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Tag Archives: Australian Outlook

USDJPY Up 7 out of 8 Trading Days

USDJPY Up 7 out of 8 Trading Days Daily FX Market Roundup Sept 13, 2019 Next week is the Federal Reserve’s monetary policy announcement and despite widespread expectations for the Fed’s second rate cut this year USD/JPY is trading strongly ahead of the rate decision. The pair ended the week up for the 7th out of 8 trading days. The latest economic reports beat expectations with retail sales rising 0.4% in the month of August, which was double expectations. Consumer sentiment also...

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3 Reasons Behind EURO’s V-Shaped ECB Reversal

3 Reasons Behind EURO’s V-Shaped ECB Reversal Daily FX Market Roundup Sept 11, 2019 The European Central Bank went above and beyond today in rolling out a massive stimulus package. Their actions not only reflect their desperation but also their resolve to boost the Eurozone economy and mitigate the risk of recession. These were the five steps taken today and when they were first announced, the combination of efforts drove EUR/USD to a low of 1.0927. The ECB also lowered their inflation...

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EUR Outlook – How ECB Could Disappoint

EUR Outlook – How ECB Could Disappoint Daily FX Market Roundup Sept 11, 2019 Tomorrow’s European Central Bank monetary policy announcement is the most important event risk of the week and we are not surprised that EUR/USD broke below 1.10 ahead of this rate decision. Investors have big expectations for this meeting because of widespread deterioration in the Eurozone economy and talk of recession in Germany. Euro hit a 2-year low last week against the US dollar as German bund yields...

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FX: Beginning of the Week Recovery in Risk

FX: Beginning of the Week Recovery in Risk Daily FX Market Roundup Sept 9, 2019 All of the major currencies recovered today in what was a quintessential recovery in risk appetite. USD/JPY rose above 107 on the back of higher bond yields and US equities. Despite Friday’s lackluster jobs report and the lack of US data on Monday, 10 year Treasury yields rose above 1.6%. Investors were moved by the People’s Bank of China’s decision to lower its reserve requirement ratio by 50bp. This...

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Pound Wobbles on Brexit Waffles

Market Drivers September 9, 2019 BoJo ignores Parliament law Aussie recovers open gap Nikkei 0.56% Dax 0.26% UST 10Y 1.58% Oil $57/bbl Gold $1506/oz BTCUSD $10240 Europe and Asia: GBP UK GDP North America: No Data It was another rollercoaster ride for pound as the week started off more Brexit drama. Over the weekend sources close to the PM suggested that he would ignore the current Parliament law that mandated Mr. Johnson to ask for an extension if no deal was done by the deadline. One...

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USD/CAD Crashes on Cool NFPs and Hot Canadian Labor

USD/CAD Crashes on Cool NFPs and Hot Canadian Labor Daily FX Market Roundup Sept 6, 2019 Today’s non-farm payrolls report ended having very little impact on the US dollar. The greenback traded lower at the onset but recovered higher by the end of the NY session. According to the latest report, job growth slowed in August but average hourly earnings growth accelerated. Only 130K jobs were created, down from 159K but earnings grew at a 0.4% pace versus 0.3% in July. This was the...

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US Dollar Outlook – 5 Reasons why Payrolls Could Disappoint

US Dollar Outlook – 5 Reasons why Payrolls Could Disappoint Daily FX Market Roundup Sept 5, 2019 Based on the rally in the US dollar today, investors are betting on a strong jobs report. The greenback ended the day sharply higher against the Japanese Yen and Swiss Franc while recovering its losses against other major currencies. Non-farm payrolls are scheduled for release tomorrow and economists are looking for job growth to ease slightly to 160K from 164K the previous month. Investors...

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FX: US Data Revives Recession Fears, Bank of Canada Preview

FX: US Data Revives Recession Fears, Bank of Canada Preview Daily FX Market Roundup Sept 3, 2019 Recession fears are back! The US dollar traded sharply lower after the ISM manufacturing report fell to its weakest level in more than 3 years. Manufacturing is an important part of the economy and one of the first to feel the effects of slower global growth. Manufacturing activity contracted for the first time since August 2016 as exports declined and new orders fell to a 7-year low....

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Cable Drops Through 1.2000 as Parliament May Trigger Early Election

Market Drivers September 3, 2019 GBP Volatility reigns US Yields drop driving USDJPY lower Nikkei 1.19% Dax 1.02% UST 10Y 1.48% Oil $54/bbl Gold $1531/oz BTCUSD $10300 Europe and Asia: RBA keeos rates 1t 1.00% GBP UK Constructiuon PMI North America: USD ISM Manufcaturing 10:00 Cable dropped to multi-month lows hitting 1.1958 in the morning London dealing on market fears that Boris Johnson may call an early election if Parliament votes to reject the no-deal Brexit path that he has...

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Dollar Snaps Back as Yields Recover

Dollar Snaps Back as Yields Recover Daily FX Market Roundup August 29, 2019 The US dollar traded higher against all of the major currencies today with the exception of the loonie. The move was driven by conciliatory rhetoric from China, better than expected US data and the first uptick in Treasury yields in a week. Second quarter US GDP growth was unrevised but personal consumption was stronger than expected, rising 4.7% against an initial estimate of 4.3%. US and China’s trade...

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