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Home / Tag Archives: Canada / New Zealand

Tag Archives: Canada / New Zealand

EUR, NZD, AUD Crash Lower After US Retail Sales

EUR, NZD, AUD Crash Lower After US Retail Sales Daily FX Market Roundup June 14, 2019 This has been a great week for the US dollar and the US retail sales report was the icing on the cake. The greenback soared against all of the major currencies after Friday’s release showed consumer spending rising 0.5% in the month of May. This was slightly lower than expected but excluding gas and auto sales, retail sales beat expectations. Yet the main reason why the dollar took flight was because...

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FX: How US Retail Sales Could Rock the Market

FX: How US Retail Sales Could Rock the Market Daily FX Market Roundup June 13, 2019 Friday’s US retail sales report is one of the most important pieces of data on this week’s economic calendar. The Federal Reserve meets next week and this number will play a crucial role in shaping expectations for the central bank’s forward guidance. Economists are looking for a recovery in spending but there are plenty of reasons why the data could miss. First and foremost, labor market gains are...

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EUR – How Much will EZ Industrial Production Hurt?

EUR – How Much will EZ Industrial Production Hurt? Daily FX Market Roundup June 12, 2019 The Eurozone’s industrial production report is typically not a big market mover for the euro but the currency has been trading in a tight range for the past 3 days and its inability to extend higher could make Thursday’s report more market moving than usual. Given the sharp drop in German industrial production, Eurozone industrial production will not only fall for the third month in a row but the...

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3 Reasons Why USDJPY is Headed Lower

3 Reasons Why USDJPY is Headed Lower Daily FX Market Roundup June 10, 2019 We kicked off the new week with renewed demand for US assets. The S&P 500 extended last week’s gains as the greenback traded higher against all of the major currencies. By sparing Mexico punitive tariffs and US corporations, a major threat to earnings, the immigration agreement between the US and Mexico provided a big boost for risk appetite. The US dollar benefitted the most because next to Mexico, the...

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EUR: 3 Things to Expect from ECB

EUR: 3 Things to Expect from ECB Daily FX Market Roundup June 5, 2019 Tomorrow’ European Central Bank monetary policy announcement will be a big one. EUR/USD rallied for 4 days straight this week but the sellers are returning ahead of the rate decision. The 3 things to expect from the ECB this month include: 1. Details on their new Targeted Long Term Refinancing Operation 2. Updated economic projections 3. New Forward Guidance Back in March, the ECB announced a series of new loans that...

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RBA Prepares to Cut but for AUD, Guidance is Key

RBA Prepares to Cut but for AUD, Guidance is Key Daily FX Market Roundup June 3, 2019 This is a big week for the Australian dollar. The calendar is full market moving events such as retail sales, PMIs, the trade balance and first quarter GDP. All of these reports are important but the biggest driver of Australian dollar flows will be tonight’s Reserve Bank of Australia monetary policy announcement. The RBA is widely expected to lower interest rates to a record low of 1.25% and follow...

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FX – The Sting of Protectionism

FX – The Sting of Protectionism Daily FX Market Roundup May 31, 2019 Currency and equity traders felt the sting of protectionism on Friday as China and the US take fresh steps to restrict trade. Overnight, the Trump Administration announced plans to impose 5% tariff on all Mexican imports starting June 10th and the rate will “gradually increase” “if the crisis” of undocumented migrants persists. Rates would rise to 10% on July 1st if meaningful changes aren’t made and increase an...

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Stocks Break Support, More Losses Ahead for FX?

Stocks Break Support, More Losses Ahead for FX? Daily FX Market Roundup May 29, 2019 US equities sold off sharply today, breaking through some important support levels and this sell-off drove all of the major currencies lower. The Dow Jones Industrial Average hit a fresh 3-month low after breaking below the 100 and 200-day simple moving averages. The S&P500 slipped underneath 2800. The New Zealand dollar, one of the most sensitive high beta currencies led the decline despite...

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Is Fourth Time the Charm for USD/CAD? Bank of Canada – What to Expect

Is Fourth Time the Charm for USD/CAD? Bank of Canada – What to Expect Daily FX Market Roundup May 28, 2019 Don’t underestimate the power of persistence. Three times this month USD/CAD tested but failed to close above 1.35 and including the move in April, there have been four failures. Clearly this is important resistance for the pair and with the right catalyst 1.35 will break easily. Despite unambiguously positive Canadian data, USD/CAD has been in an uptrend for the last 6 weeks and...

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Near Term Correction in the US Dollar?

Near Term Correction in the US Dollar? Daily FX Market Roundup May 24, 2019 The US dollar hit fresh multi-month highs versus the euro, sterling, Australian and New Zealand dollars this past week, but the greenback actually ended the week lower against most of the major currencies. This reversal has many traders wondering if there could be a steeper near term correction in the US dollar. Fundamentally, the US economy is performing better than its peers and slower global growth will hurt...

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