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Tag Archives: Featured

Dollar Rally Stumped by Trump; Euro Finds Fresh Bid

Market Drivers August 23, 2017 NZ Growth revised lower EZ PMI beat Nikkei 0.26% Dax -0.10% Oil $48/bbl Gold $1286/oz. Europe and Asia: NZD Net Debt Forecast 22.5% EUR PMI 55.8 vs. 55.5 North America: USD New Home Sales 10:00 It was a busy night of trade in the FX market today with newsflow creating a wide variety of moves in both majors and the commdollars. In New Zealand the Pre- Election economic update caused a stir as it forecast GDP growth for 2017-2018 period at 3.5% versus 3.7%...

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Euro & 4 Reasons Why Its Down Today

Euro & the 4 Reasons Why Its Down Today Daily FX Market Roundup 08.22.17 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management After hitting a high of 1.1825, the euro sapped a two day rally to end the day lower against the U.S. dollar. Unlike some other major currencies, there were no less than 3 reasons why euro came under selling pressure today. First and foremost, the U.S. dollar is trading higher against all of the major currencies today and probably would...

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Is This the Start of a Dollar Rally?

Market Drivers August 22, 2017 UK PSNB bit better ZEW Sentiment sours Nikkei -0.05% Dax 0.55% Oil $48/bbl Gold $1290/oz. Europe and Asia: GBP UK PSNB -0.76B vs. -0.2B EUR ZEW 10 vs. 15 North America: CAD Retail Sales 8:30 The dollar showed first signs of life this week as the single currency rallied across the board in Asian and European trade rising against all of its major economic partners. USDJPY rallied to a high of 109.45 but the move petered out ahead of the key 109.50 level and...

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Will Dollar Rally Into Jackson Hole?

Market Drivers August 21, 2017 More noise from NK USDJPY back below 109.00 Nikkei -0.40% Dax -0.47% Oil $48/bbl Gold $1287/oz. Europe and Asia: JPY All Industries 0.4% vs. 0.5% North America: No Data It’s been a very quiet open to the week in the FX market today with no economic data to drive trade and only a smattering of geo-political news to stoke some mild risk aversion flows in USDJPY. North Korea once again made some noise, objecting to the annual joint military exercises between...

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There’s More Trouble Ahead for the Dollar & USD/JPY

There’s More Trouble Ahead for the Dollar & USD/JPY Daily FX Market Roundup 08.18.17 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The single most important theme in the financial markets this past week was risk aversion. The Dow Jones Industrial Average experienced its largest one day decline in 3 months while the VIX, which measures the volatility in the equity market rose to its highest level since April. Although many currency pairs ended the week not...

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US Stocks Fall, Dollar Dumped, Euro Holds 1.17

US Stocks Fall, Dollar Dumped, Euro Holds 1.17 Daily FX Market Roundup 08.17.17 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management It was another day for the U.S. dollar where flows were dominated by Trump’s political woes. The greenback’s earlier gains were erased by rumors that President Trump’s Chief Economic Advisor Gary Cohn plans to resign. Although he hasn’t made any comments publicly, there are widespread reports according to several people close to him...

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No Relief for the Dollar as Trump Disband Councils

No Relief for the Dollar as Trump Disband Councils Daily FX Market Roundup 08.16.17 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The rally in the U.S. dollar unwound quickly today after President Trump disbanded his two business councils. The CEOs of Merck, Intel, Under Armour, AAM, Campbell Soup, 3M and Johnson & Johnson have left the group following Trump’s response to the violence in Charlottesville. More would have probably followed if the whole panel...

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Will FOMC Minutes Lift USDJPY Through 111.00?

Market Drivers August 16, 2017 EUR tumbles as reports ECB will not change policy UK Labor data beats Nikkei -0.12% Dax 0.83% Oil $47/bbl Gold $1276/oz. Europe and Asia: AUD Wage Price index 1.9% GBP UK Average Earning 2.1% vs. 2.0% GBP UK Claimant Count -4.2K vs. 3.7K North America: USD House Starts/Permits 8:30 USD FOMC Minutes 14:00 After comatose Asia session trade, currencies came to life in early European dealing with EURUSD plunging below the 1.1700 figure while cable peaked above...

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3 Reasons Why the Dollar Backed Off Good Data

3 Reasons Why the Dollar Backed Off Good Data Daily FX Market Roundup 08.15.17 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Between North Korea’s decision to scrap its missile tests near the waters of Guam and overwhelmingly positive U.S. data, the U.S. dollar should have traded sharply higher. It has been a strong day, but to the surprise of many, the rally fizzled shortly after U.S. markets opened for trading. Retail sales rose 0.6% in the month of July,...

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Dollar Roars Back

Market Drivers August 15, 2017 Easing of NK Tensions sends USDJPY through 110.00 UK CPI data misses Nikkei 1.11% Dax 0.18% Oil $47/bbl Gold $1275/oz. Europe and Asia: EUR GE GDP 0.8% vs. 1.9% GBP UK CPI 2.4% vs. 2.5% North America: USD Retail Sales 8:30 USD Empire Manufcaturing 8:30 A confluence of factors helped the dollar to rebound in Asian and early European trade today as markets braced themselves for the US Retail Sales report due later at 12:30 GMT. In early Asia, the dollar got a...

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