Wednesday , November 20 2019
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Tag Archives: Featured

Dollar Slips Further on Trump Worries

Dollar Slips Further on Trump Worries Daily FX Market Roundup November 18, 2019 The US dollar started this new trading week on its back foot, weakening against all of the major currencies. In our note on Friday, we talked about the possibility of further losses for the greenback but we did not expect it to happen so quickly. Investors are worried about President Trump’s policies following reports that China is pessimistic about trade talks. The President also held a meeting with Fed...

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Dollar Ends Bruising Week – More Losses Ahead?

Dollar Ends Bruising Week – More Losses Ahead? Daily FX Market Roundup November 15, 2019 It has been a challenging week for the US dollar as the greenback sold off against most of the major currencies. Weaker US data combined with Federal Reserve Chairman Powell’s benign outlook for the US economy reinforced the market’s view that low rates will be here to stay. Trade talks also hit a snag this week and the ongoing uncertainty is taking its toll on currencies. Unless President Trump...

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FX Ending Week with a Whimper

Market Drivers November 15, 2019 S&P 500 hits all time highs in overnight trade FX pairs quiet – US Retail Sales main event Nikkei 0.70% Dax 0.40% UST 10Y 1.84% Oil $56/bbl Gold $1464/oz BTCUSD $8649 Europe and Asia: No Data North America: USD Retail Sales 8:30 FX markets were very quiet on the final session of the week as traders were content to tread water amidst very little fresh newsflow and no major economic releases. Both kiwi and Aussie firmed in Asia after a big selloff the...

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Aussie Drops – Is Risk About to be Clobbered?

Market Drivers November 14, 2019 AU Labor data misses EU escapes recession Nikkei -0.76% Dax -0.23% UST 10Y 1.85% Oil $56/bbl Gold $1467/oz BTCUSD $8646 Europe and Asia: AUD AU Labor data -19K vs. 16K eyed GBP UK Retail Sales -0.1 vs. 0.2% EUR GE GDP 0.1% vs. -0.1% North America: USD PPI 8:30 The Australian dollar was the biggest mover in FX market overnight after labor data from Down Under missed badly suggesting that RBA will have to cut rates further in order to stabilize the...

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Are We Setting Up for Risk-Off Sell Off in FX?

Market Drivers November 13, 2019 RBNZ surprises by holding rates steady All eyes on Powel Nikkei -0.85% Dax -0.76% UST 10Y 1.87% Oil $56/bbl Gold $1464/oz BTCUSD $8802 Europe and Asia: NZD RBNZ rates at 1.00 vs. 0.75% GBP UK CPI 1.5% vs. 1.6% North America: USD Chair Powell Testiomony 11:00 FX markets were in mild risk-off tone ahead of Fed Chair Powell testimony in front of Congress with USDJPY trading just below the 109.00 figure in morning London dealing. Overnight the kiwi was the...

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POWELL vs. RBNZ – What’s the Bigger Surprise?

POWELL vs. RBNZ – What’s the Bigger Surprise? Daily FX Market Roundup November 12, 2019 The best way to summarize President Trump’s speech to the NY Economics Club is that it could have been a lot worse for the markets. He threatened a significant increase in tariffs on China if there’s no deal but at the end of the day, nothing new was revealed. President Trump made no mention on how US-China trade talks are going and said nothing about rolling back tariffs. He also did not drop any...

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Dollar Holds Bid as FX Awaits Trump

Market Drivers November 12, 2019 Dollar remains bid Cable gives up gains Nikkei 0.81% Dax 0.44% UST 10Y 1.94% Oil $56/bbl Gold $1453/oz BTCUSD $8755 Europe and Asia: UK GBP Average Earnings 3.6% vs. 3.8% eyed EU GE ZEW -2.1 vs. -13.2 North America: USD Trump Speech 13:00 The dollar was slightly higher in steady Asian and European trade today as FX markets awaited President Trump’s speech at 1800 GMT today. Cable gave up a big chunk of yesterday’s gains as the pair slid back towards the...

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5 Biggest Risks for FX this Week

5 Biggest Risks for FX this Week Daily FX Market Roundup November 11, 2019 Monday was a slow start to a busy week for the currency market. The US bond market was closed for Veteran’s Day but the stock market was open allowing stocks to come record highs. Holiday profit taking was not the only reason for the market’s decline – the mood on trade turned sour again after President Trump said he hasn’t made a decision on tariff rollbacks. Over the weekend, his contradictory comments...

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HK Protests Escalate – USDJPY Drops Below 109.00

Market Drivers November 11, 2019 USDJPY back below 109.00 UK GDP misses forecast Nikkei -0.26% Dax -0.35% UST 10Y 1.94% Oil $56/bbl Gold $1465/oz BTCUSD $8660 Europe and Asia: UK GBP GDP 0.3% vs. 0.4% North America: No Data It’s been a generally quiet start to the week in FX with most pairs remaining in tight ranges, but the dollar was slightly weaker across the board and USDJPY dropped below 109.00 on escalating tensions in Hong Kong. In Hong Kong, the continued clashes between police...

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Trump Denies Tariff Rollback, Triggers FX Pullback

Trump Denies Tariff Rollback, Triggers FX Pullback Daily FX Market Roundup November 8, 2019 After all of this week’s conflicting headlines, the only real truth is that President Trump isn’t ready to back down on his trade war with China. There’s no doubt that China wants the tariffs cancelled and on Thursday it seemed as if both sides want to include that in the phase one trade deal. However on Friday, Trump made it clear that nothing has been decided – he said that while China wants...

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