Thursday , July 18 2019
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Dollar Slips Back, NZD Hits 3 Month Highs

Dollar Slips Back, NZD Hits 3 Month Highs Daily FX Market Roundup July 17, 2019 The US dollar traded lower against all of the major currencies on Wednesday as Treasury yields resumed their slide. The New Zealand benefitted the most from the decline, rising to its strongest level in 3 months. Sterling, which had fallen to a year to date low versus the greenback during the European session recovered steadily into the NY close ending the day in positive territory. Housing starts and...

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FX Steady Around Key Levels

Market Drivers July 17, 2019 UK CPI prints in-line EU CPI hotter Nikkei -0.31% Dax -0.03% UST 10Y 2.10% Oil $58/bbl Gold $1401/oz. Europe and Asia: GBP UK CPI Core 0.0% vs. 0.0% EUR CPI 0.4% vs. 0.3% North America: USD Building Permoits 8:30 CAD CPI 8:30 It’s been a quiet midweek night of trade in FX with majors holding steady around key levels after selling off against the dollar yesterday. Cable continued to feel downside pressure as shorts took out the stops around 1.2400 in early...

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Cable Starts To Crash as Brexit Worries Intensify

Market Drivers July 16, 2019 UK Labor data US Retail Sales on tap Nikkei -0.69% Dax 0.08% UST 10Y 2.09% Oil $59/bbl Gold $1413/oz. Europe and Asia: GBP UK Labor North America: USD Retail Sales 8:30 The dollar was firmer in Asian and European trade today with cable particularly weak as worries about a no-deal Brexit heightened the market anxiety and sent the pair below the 1.12500 level once again while pushing EURGBP to fresh 6 month highs. UK Labor data came in mixed today with wages...

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Commdollars Lead FX on Chinese Data Beat

Market Drivers July 12, 2019 Chinese data beats Comms rally Nikkei 0.20% Dax 0.41% UST 10Y 2.12% Oil $60/bbl Gold $1414/oz. Europe and Asia: CNY 9.8% vs. 8.5% CNY IP 6.3% 5.2% CNY GDP 6.2% vs. 6.2% North America: USD Empire 8:30 Chinese data beat the forecast providing a lift to commodity dollars in the only price action at the start of the week. With no major economic releases out of the G-7 today and all the central bank speak behind the market, FX trade was generally quiet as Chinese...

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Dollar Weakness Persists Post Powell

Market Drivers July 11, 2019 BOE Financial Stability Report offers nothing new 2nd Day of Powell Nikkei 0.51% Dax 0.14% UST 10Y 2.05% Oil $60/bbl Gold $1423/oz. Europe and Asia: BoE Financial Stibility Report North America: USD CPI 8:30 USD Powell Testifies to Senate 10:00 It’s been a very subdued night of trade in FX with the exception of USDJPY which tested support below the 108.00 in early Asia trade as dollar selling continued in the wake of surprisingly testimony by Fed Chair Jerome...

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If Powell is Hawkish Where are the Trades?

Market Drivers July 10, 2019 French IP beats All eyes on Powell Nikkei -0.15% Dax -0.21% UST 10Y 2.097% Oil $58/bbl Gold $1391/oz. Europe and Asia: EUR FR IP 2.1% vs. 0.3% GBP UK Trade Balance -11.5B vs -12.5B GBP UK GDP 0.3% vs. 0.3% North America: USD Powell Testifies to House 10:00 CAD BOC Rate Decision 10:00 USD FOMC Minutes 14:00 FX markets were generally quiet ahead of key testimony to Congress from Fed Chair Jerome Powell later today. The dollar remained bid with USDJPY hovering...

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FX: Powell vs. Bank of Canada vs. Fed Minutes

FX: Powell vs. Bank of Canada vs. Fed Minutes Daily FX Market Roundup July 9, 2019 In the next 24 hours, there are 3 major event risks that could change the course for currencies. The most significant will be Federal Reserve Chairman Powell’s testimony on the economy and monetary policy and then the Bank of Canada’s monetary policy announcement. Both of the events could amount to nothing but there’s also a high possibility of market moving new revelations. For the US dollar, everyone...

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Buck Holds BId in Quiet Market

Market Drivers July 9, 2019 Dollar rally resumes US yields creep higher Nikkei 0.14% Dax -1.10% UST 10Y 2.06% Oil $58/bbl Gold $1387/oz. Europe and Asia: No Data North America: No Data It’s been another news-free night in FX as the economic calendar remained empty, buy the buck saw a small bid in Asian and early European trade as US yields continued to rise. The EURUSD fell through the 1.1200 level before rebounding slightly while USDJPY rallied to 108.96 before backing off the big...

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Forex: This is the #1 Event Risk This Week

Forex: This is the #1 Event Risk This Week Daily FX Market Roundup July 8, 2019 US dollar bulls remain in control with the greenback extending its gains against all of the major currencies. Friday’s non-farm payrolls report sparked a broad based recovery in the greenback. With no US economic reports scheduled for release Monday and Tuesday, the dollar held onto its gains as investors wait for its next catalyst, Federal Reserve Chairman Powell’s semi-annual testimony on the economy and...

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FX Starts the Week in Cautious Mode

Market Drivers July 8, 2019 Dollar gives up some of Friday’s gains EZ investor confidence at 5 year lows Nikkei -0.98% Dax -0.22% UST 10Y 2.02% Oil $57/bbl Gold $1405/oz. Europe and Asia: EUR GE IP 0.3% vs. 0.4% EUR GE Trade Balance 18.7B vs. 16.8B EUR Sentix -5.8 vs. 0.3 North America: No Data It’s been a very quiet start to the trading week in FX, with markets coming back post US holiday amidst general summer doldrums and lack of any meaningful data on the eco calendar. The dollar was...

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