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Tag Archives: Featured

EURO Aims for 1.12, USD Loses Serious Momentum

EURO Aims for 1.12, USD Loses Serious Momentum Daily FX Market Roundup 05.16.17 The biggest story today in the forex market today was the strong rally in the euro. The single currency broke above 1.10 and came within a few pips of 1.11. Stronger than expected Eurozone data contributed to the move but the 1.10 break occurred well before the first releases. Euro is still coasting on Emmanuel Macron’s victory and the strong possibility that Angela Merkel will be reelected as Chancellor...

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Cable Crumbles as Inflation Rumbles

Market Drivers May 16, 2017 Euro takes out 1.1000 UK Inlfation remains elevated Nikkei 0.25% Dax -0.06% Oil $49/bbl Gold $1234/oz. Europe and Asia: GBP UK CPI 2.7% vs. 2.6% EUR ZEW 83.9 vs. 82 EUR GDP 1.7% vs. 1.7% North America: USD Housing Starts/Permits 8:30 USD Industrial Production 9:15 Volatility picked up markedly in the FX market on the second trading day of the week with euro and pound going separate ways as EUR/USD broke above the key 1.1000 level once again while cable took a...

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Why Dollar Fell Against Everything BUT the Yen

Why Dollar Fell Against Everything BUT the Yen Daily FX Market Roundup 05.15.17 To the frustration of anyone who believes that USD/JPY should be the purest pro dollar/ anti-dollar trade, the greenback moved lower against all of the major currencies today except for the Japanese Yen. U.S. data continues to be unimpressive as manufacturing activity in the NY region declined for the first time in 7 months. This follows the softer than expected consumer spending and inflation reports...

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Oil Pops, Risk Drops, Dollar Tops?

Market Drivers May 15, 2017 Risk On starts the week OPEC tries to prop up oil Nikkei -0.07% Dax -0.26% Oil $48/bbl Gold $1231/oz. Europe and Asia: NZD Retail Sales 1.5 vs. 0.9% CNY IP 6.5% vs. 7.1% CNY Retail Sales 10.7% vs. 10.6% North America: USD NAHB Housing Index 10:00 The Dollar was broadly lower on the first trading day of the week, losing ground against all of the major currencies with the exception of the yen. A new agreement between OPEC and Non-OPEC nations to curtail...

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Dollar Tanks after US Data – Is this a Pullback or Top?

Dollar Tanks after US Data – Is this a Pullback or Top? Daily FX Market Roundup 05.12.17 There’s a serious misalignment between U.S. data, market expectations and Fed speak. Friday’s U.S. economic reports raise questions about the possibility of a rate hike in June. Consumer spending and inflation increased but less than anticipated so outside of the increase in job and wage growth, we haven’t seen significant strength in other parts of the economy. Yet the market still believes that...

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Currencies Wobble After BoE, RBNZ Disappoints

Currencies Wobble After BoE, RBNZ Disappoints Daily FX Market Roundup 05.11.17 The Bank of England and Reserve Bank of New Zealand’s monetary policy announcements proved to be a big disappointment in terms volatility. Outside of the immediate reaction, there was very little follow through even though both central banks failed to live up to expectations. Investors bought sterling and kiwis in the days ahead of the rate decisions and sold them hard after policymakers in both countries...

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Ahead of BoE – Pound Wobbles

Market Drivers May 11, 2017 UK Data misses GBP drifts ot 1.2900 RBNZ surprisingly dovish send kiwi to near .6800 Nikkei 0.31% Dax 0.02% Oil $48/bbl Gold $1221/oz. Europe and Asia: NZD RBNZ 1.75% remains dovish GBP UK Trade -13B vs. -11B GBP UK IP 1.4% vs. 2.1% GBP IK MP 2.3% vs. 3.0% North America: GBP UK BoE 7:00 USD PPI 8:30 USD Weekly Jobless Claims 8:30 The latest batch of economic data from UK missed estimates sending cable lower in early morning London dealing as traders awaited...

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Forex – Counting Down to RBNZ and BoE

Forex – Counting Down to RBNZ and BoE Daily FX Market Roundup 05.10.17 Two major central banks have monetary policy meetings in the next 24 hours and while no changes to policy are expected, these currencies are trading firmly ahead of their announcements. The best performer today was the New Zealand dollar, which traded higher against all of the other major currencies. There’s no question that investors are looking for optimism from the central bank especially after the NZ shadow...

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Underestimating Political Risk in USDJPY?

Market Drivers May 10, 2017 USDJPY wobbles on Trump news Comm dollars rebound Nikkei -0.29% Dax 0.03% Oil $46/bbl Gold $1224/oz. Europe and Asia: No Data North America: No Data There were no major economic news releases today across any of the three main trading sessions and currencies, therefore, remained in narrow trading ranges for most of the Asian and early European dealing. Last night’s geo-political shocker out of the US however, did have an impact on USDJPY which was pressured...

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Will USD/JPY Break 115?

Will USD/JPY Break 115? Daily FX Market Roundup 05.09.17 The U.S. dollar continued to rise against all of the major currencies with USD/JPY extending its gains above 114. A test of 115 appears inevitable but a break may be more difficult. There are a number of reasons why the U.S. dollar is so strong but all of them center on the market’s expectations for June tightening. Fed fund futures have been pricing in 100% chance of a quarter point hike in June and a 63% chance of a follow up...

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