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Tag Archives: Featured

Fed Preview – It’s a Credibility Issue for Yellen

Fed Preview – It’s a Credibility Issue for Yellen Daily FX Market Roundup 06.13.17 On the eve of the Federal Reserve’s quarterly monetary policy announcement, no one is buying U.S. dollars. The greenback ended the day lower against the Japanese Yen, Sterling, Canadian and New Zealand dollars and was unchanged versus other major currencies. Even the strongest rise in annualized core producer price growth did not spark lasting demand as investors eye the rate decision with caution. The...

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Cable and Loonie Dominate Trade as Rest of FX Stands Still

Market Drivers June 13, 2017 UK CPI Loonie remains bid Nikkei 0.01% Dax 0.47% Oil $46/bbl Gold $1264/oz. Europe and Asia: UK CPI North America: USD PPI 8:30 Cable and loonie were the stars of early European trade rising against all other majors while the rest of the field was generally quiet in steady uneventful trade. Hotter UK inflation data helped to propel pound through the 1.2700 figure as CPI printed at 2.6% versus 2.4% eyed but PPI was a tad cooler at 2.8% versus 2.9%. Prices...

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Forex – 7 Things to Watch this Week

Forex – 7 Things to Watch this Week Daily FX Market Roundup 06.12.17 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management the most vulnerable. GBP/USD and USD/JPY traded heavy throughout the NY session leading to a more than 1% slide in GBP/JPY. Ahead of this important week GBP and USD traders made it clear that their inclination is to sell dollars and pounds barring any major surprises (like no hike from the Fed). The Federal Reserve’s monetary policy announcement...

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No Faith in FED – USDJPY Drops Below 110.00

Market Drivers June 12, 2017 Macron win the 1st round USDJPY dips below 110.00 Nikkei -0.52% Dax -0.65% Oil $46/bbl Gold $1269/oz. Europe and Asia: No Data North America: No Data It’s been a quiet start to the week after last week’s volatile events. With Australia and UK on holiday’s and no major data anywhere on the G-7 calendar, there was little fresh news to move FX. Nevertheless, USDJPY steadily drifted lower breaking below the key 110.0 despite slightly better US yields as risk-off...

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More Losses for GBP? Big Week for Dollar

More Losses for GBP? Big Week for Dollar Daily FX Market Roundup 06.09.17 We are suppose to be in the dog days of summer but with the weather just beginning to warm up here in New York, investors are getting chills from the volatility in the British pound this past week. Sterling dropped more than 2% on Thursday evening to its weakest level in 6 weeks and the worst may be yet to come. If there’s one thing that we have all learned over the past 12 months it should be that polls could be...

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How to Trade the UK Election, Plus ECB & Comey Post Mortem

How to Trade the UK Election, Plus ECB & Comey Post Mortem Daily FX Market Roundup 06.08.17 So far it seems that Super Thursday is turning out to be a major disappointment. EUR/USD traded in a 55 pip range following the European Central Bank’s monetary policy announcement and an even narrower one if you count from the start of ECB President Draghi’s press conference. Former FBI Director Comey’s testimony also failed to inspire big moves in the dollar although it reinforced the...

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Super Thursday is Here!

Market Drivers June 8, 2017 AU Trade misses EZ GDP beats Nikkei -0.38% Dax 0.39% Oil $46/bbl Gold $1287/oz. Europe and Asia: AUD Trade 0.555M vs. 3.16B CNY Trade 40.8B vs. 46.3B EUR GDP 1.9% vs. 1.7% North America: EUR ECB Presser 8:30 USD Weekly Jobless 8:30 USD James Comey Testifies 10:00 GBP UK Election Polls Close 17:00 Super Thursday is here and the FX markets as steeling themselves for a slew of event risks across the G-7 universe that could have a massive market-moving impact. In...

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Preparing for the EUR & GBP Rollercoaster Ride

Preparing for the EUR & GBP Rollercoaster Ride Daily FX Market Roundup 06.07.17 Euro and sterling traders should be prepared for a wild ride tomorrow as U.K. voters head to the polls and the European Central Bank delivers its latest monetary policy decision. We saw big intraday swings today that gave investors a taste of the exaggerated moves they can expect over the next 24 hours. There’s a lot of uncertainty surrounding tomorrow’s European Central Bank rate decision and the U.K....

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Aussie Flies; Dollar Dies

Market Drivers June 7, 2017 AU GDP Beats USDJPY probes 109.00 Nikkei 0.02% Dax -0.06% Oil $48/bbl Gold $1295/oz. Europe and Asia: AUD GDP 0.3% vs. 0.2% North America: No data The dollar was under further pressure in Asian and morning European trade today as US yields continued to compress trading at their lowest levels since Donald Trump was elected. Meanwhile, the Aussie continued its upward ways taking out the .7550 barrier in morning London dealing on the back of better than expected...

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110 Breaks, How Low Can USD/JPY Go?

110 Breaks, How Low Can USD/JPY Go? Daily FX Market Roundup 06.06.17 No major U.S. economic reports released today but the weight of recent data sent USD/JPY tumbling below 110. The decline was as much about the strength of the yen as the weakness of the dollar because risk aversion took all of the yen crosses lower. The greenback saw losses against all of the major currencies but USD/JPY took the brunt of the selling. Although we’ve said recent disappointments in U.S. data would drive...

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