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Tag Archives: Featured

Has USDJPY Bottomed Out?

Market Drivers February 1, 2018 GE yields keep euro bid UK PMI Manufacturing lowest since June 2017 Nikkei 1.68% Dax 0.31% Oil $65/bbl Gold $1340/oz. Bitcoin $9300 Europe and Asia: AUD Building Permits -20% vs. -8% GBP UK PMI Manufacturing 55.3 vs. 56.6 North America: CAD PMI Manufacturing 9:30 USD ISM Manufacturing 10:00 It’s been another choppy session of twists and turns in Asian and early European trade as both euro and cable reversed earlier losses and hit sessions high by...

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Dollar Pops on FOMC but Its Too Soon to Pick a Bottom

Dollar Pops on FOMC but Its Too Soon to Pick a Bottom Daily FX Market Roundup 01.31.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Between President Trump’s State of the Union address and the Federal Reserve meeting, the market had a bigger reaction to FOMC. The U.S. dollar shot higher after the Federal Reserve touted the improvements in the economy and upgraded their inflation outlook. This move helped the greenback erase some of its earlier gains versus the...

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Will FOMC Boost the Dollar

Market Drivers January 31, 2018 End of month flows create two-way trade FOMC on tap Nikkei -0.83% Dax 0.38% Oil $64/bbl Gold $1342/oz. Bitcoin $99000 Europe and Asia: AUD AU CPI 0.6% vs.0.7% EUR Retail Sales -1.9% vs. 2.8% EUR Unemployment -25K vs. -17K North America: USD ADP 8:15 CAD GDP 8:30 USD Pending Homes 10:00 USD FOMC 14:00 The currency markets were much more subdued today as traders processed President Trump’s state of the union speech, seesawed on end of the month flows and...

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Trump vs. FOMC – Which will be the Bigger FX Disruptor?

Trump vs. FOMC – Which will be the Bigger FX Disruptor? Daily FX Market Roundup 01.30.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The wild swings that we saw in the FX market today gave us a taste of the bigger moves that could transpire over the next 24 hours. There was little rhyme or reason for today’s volatile price action with investors buying U.S. dollars into the European open, selling it aggressively in the first half of the London trading session...

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Dollar Whips and Wipes Out Both Longs and Shorts

Market Drivers January 30, 2018 Markets seesaw on risk aversion German inflation data lower Nikkei -1.43% Dax -0.20% Oil $64/bbl Gold $1338/oz. Bitcoin $10800 Europe and Asia: EUR GBP 2.6% vs.2.6% GBP UK Mortgage Approvals 61K vs. 63.5K North America: No Data Major reversal in currency market today with both EURUSD and GBPUSD making V shaped spikes in London session as late dollar longs were squeezed mercilessly on pure price flows. There were no major fundamental drivers today and in...

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Yields Bring Dollar Back

Market Drivers January 29, 2018 10year at 2.70% helps USDJPY probe 109.00 Market looks towards US data Nikkei -0.01% Dax -0.29% Oil $66/bbl Gold $1348/oz. Bitcoin $11300 Europe and Asia: No Data North America: USD PCE 8:30 USD PI/PS 8:30 The dollar recovered slightly at the start of week’s trade aided by continuing rise in US yields which broke the 2.70% barrier on the benchmark 10-year for the first time since 2014. The rise is the buck was modest given the massive yield differential...

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Do High Volatility Forex Moves Signal a Turn?

Do the High Volatility FX Moves Signal a Turn? Daily FX Market Roundup 01.26.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management There are no shortages of factors driving the U.S. dollar lower. On a broad basis, stronger global growth makes U.S. assets less attractive especially during a time when investors are worried about trade wars and the country’s fiscal finances. In the latest week however, it was the Bank of Japan’s inflation language tweak, stronger data...

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Dollar Sessaws and Tries to Stabilize

Market Drivers January 26, 2018 Dollar tries to stabilize UK GDP beats Nikkei -0.16% Dax -0.03% Oil $65/bbl Gold $1354/oz. Bitcoin $10400 Europe and Asia: GBP UK GDP 1.7% vs. 1.4% North America: USD GDP 3.0% vs. 3.2% CAD CPI -0.6% vs. -0.1% After another week of drubbing, the dollar tried to stabilize on the last trading day of the week in volatile Asian and early London trade. The greenback seesawed, first rising towards the 110.00 figure in Asia open session, only to give back most of...

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Why Euro Broke 1.25 Despite ECB Jawboning

Why Euro Broke 1.25 Despite ECB Jawboning Daily FX Market Roundup 01.25.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management EUR/USD broke through 1.25 despite European Central Bank President Draghi’s warning that euro volatility creates uncertainty. This is the strongest level that we’ve seen the currency trade since December 2014. While investors were worried that jawboning by Draghi would drive the currency lower, as the euro continued to rise into the rate...

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Dollar Crashes, Will ECB Draghi Say Enough to Kill Euro Rally?

Dollar Crashes, Will ECB Draghi Say Enough to Kill Euro Rally? Daily FX Market Roundup 01.24.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management It was another crushing day for the U.S. dollar with the greenback trading sharply lower against all of the major currencies. What sets this leg apart from others is that it drove many major currency pairs beyond important support and resistance levels. USD/JPY broke through 110, EUR/USD hit 1.25 and GBP/USD soared to...

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