Monday , October 21 2019
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Tag Archives: Featured

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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Will Euro Lose the 1.1000 Level?

Market Drivers August 30, 2019 UK- EU will step up talks EUR flirts with 1.1000 lows Nikkei 1.19% Dax 1.02% UST 10Y 1.53% Oil $56/bbl Gold $1525/oz BTCUSD $9440 Europe and Asia: EU GE Retail Sales -2.2% vs. -1.3% EU EUR Core CPI 0.9% vs. 1.0% North America: CAD GDP 8:30 USD PI/PS 8:30 USD Chicago PMI 9:45 USD U of M 10:00 It’s been a generally quiet last trading day of the month with little fresh newsflow to drive the currency markets as risk-on flows from yesterday were muted somewhat...

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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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Risk Reverses on Soothing China Rhetoric

Market Drivers August 29, 2019 Risk reverses on China encouraging rhetoric German labor data inline Nikkei -0.09% Dax 0.89% UST 10Y 1.507% Oil $56/bbl Gold $1539/oz BTCUSD $9456 Europe and Asia: EU GE Unemployment 4K vs. 4K North America: USD GDP 8:30 Risk flows reversed in early European trading after China came out with some encouraging rhetoric noting that it did not want to exacerbate the trade tensions and that it was preparing for bilateral meetings in September. The news quickly...

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Cable Tumbles 1% – BoJo to Suspend Parliament

Market Drivers August 28, 2019 Pound drops 1% on fear that Johnson will suspend Parliament No confidence risk rises Nikkei 0.11% Dax -0.53% UST 10Y 1.469% Oil $56/bbl Gold $1541/oz BTCUSD $10100 Europe and Asia: No Data North America: No Data Cable was rocked today dropping as much as 1% in morning London dealing after Boris Johnson attempted a political maneuver to effectively suspend the government until October 14th. Mr. Johnson argued that the move – which would not allow Parliament...

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FX: Trump Keeps Market Off Balance

FX: Trump Keeps Market Off Balance Daily FX Market Roundup August 26, 2019 Thanks to US President Trump whose tweets keeps the market off balance, it was a wild ride for currencies overnight. Pairs like USD/JPY and AUD/USD gapped lower at the Asia open after President Trump said he regrets not raising tariffs on China higher. Then all of the gaps were filled by NY when Trump said, “China called twice” to get back to the table and restart trade talks in the early European session. Its...

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