Friday , November 15 2019
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Tag Archives: Featured

Cable Wobbles on GDP, Dollar Finds Buyers

Market Drivers May 25, 2017 UK GDP misses Oil turns volatile sends comm dollars Nikkei 0.36% Dax 0.12% Oil $51/bbl Gold $1257/oz. Europe and Asia: GBP UK GDP 0.2% vs. 0.3% North America: USD Weekly Jobless Claims 8:30 A topsy-turvy night of trade in the FX market today as the greenback first saw selling across the board in the wake of yesterday’s less than hawkish FOMC minutes, only to see flows reverse in morning European dealing as EURUSD retreated off the highs while USDJPY inched...

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CAD Soars, USD Tanks of Fed Inflation Views

CAD Soars, USD Tanks of Fed Inflation Views Daily FX Market Roundup 05.24.17 The Federal Reserve minutes failed to inspire additional gains in the U.S. dollar today, which isn’t surprising as we were only looking for dollar strength going into the release. Although most Fed officials saw tightening likely to be appropriate soon as consumer spending is expected to rebound a few policymakers were worried that progress on inflation has slowed. As such they felt that it was prudent to wait...

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USD Catches a Mild Bid

Market Drivers May 24, 2017 Moody’s downgrades China ECB Constancio mildly bullish Nikkei 0.66% Dax -0.21% Oil $51/bbl Gold $1252/oz. Europe and Asia: NZD Trade Balance 572M vs. 268M North America: USD Existing Home Sales 10:00 CAD BOC Rate Decision 10:00 USD FOMC Minutes 14:30 It’s been a quiet night of trade in the FX market with little newsflow to move prices as most the major remained with 25 pip ranges through Asian and early European trade. The only major headline to move markets...

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Turnaround Tuesday – Behind the Wild Ride in FX

Turnaround Tuesday – Behind the Wild Ride in FX Daily FX Market Roundup 05.23.17 It was an unusually volatile day in the foreign exchange market. European currencies traded with a heavy bias for the first half of the North American trading session but rose quickly and aggressively ahead of the London close only to reverse course minutes later. The rollercoaster ride was driven entirely by fixing flows although it is worth noting that U.S. yields and the dollar also rebounded around the...

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Fresh Highs Hit As Euro Express Rolls On

Market Drivers May 23, 2017 GE PMI and IFO beats Manchester terror bombing grips UK Nikkei -0.33% Dax 0.48% Oil $50/bbl Gold $1260/oz. Europe and Asia: EUR EZ PMI 56.8 vs. 56.6 EUR IFO 114.6 vs. 113.1 GBP UK PSNB 9.6B vs. 8.1B North America: CAD Wholesale Sales 8:30 USD New Home Sales 10:00 The euro hit fresh yearly highs in morning European dealing today after better than expected PMI and IFO data fueled another round of buying in the currency. The Eurozone composite PMI came in at...

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Is the EURO Headed for 1.15?

Is the EURO Headed for 1.15? By Kathy Lien, Managing Director of FX Strategy for BK Asset Management1.15. There are no shortages of reasons to explain EUR/USD’s strength ranging from stronger Eurozone data, disappointing U.S. data to a rising German – U.S. 10 year yield spread. While the European Central Bank is in no position to raise rates, President Draghi acknowledged the improvements in the economy and the reduction in downside risks. If tomorrow’s German IFO and Eurozone PMI...

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Cable Stumbles on Brexit Grumbles

Market Drivers May 22, 2017 Cable stumbles on Brexit grumble EUR below 1.1200 Nikkei 0.45% Dax -0.26% Oil $51/bbl Gold $1255/oz. Europe and Asia: No data North America: No data It was a data free start to the start of week’s trade today as FX markets remained quiet in Asian and early European dealing. With little newsflow to move the markets, the major pairs remained in narrow ranges but saw a bit of profit-taking after massive gains last week. The EURUSD slipped below the 1.1200 mark...

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Dollar Extends Losses, Lives or Dies on Trump

Dollar Extends Losses, Lives or Dies on Trump By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The U.S. dollar came under heavy selling pressure this past week with the greenback breaking key support levels against the Japanese Yen, euro, British pound and other currencies. Although softer economic reports played a key role in the dollar’s decline, President Trump’s political trouble is the real reason for its aggressive slide. The investigation into the ties...

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Bounceback Friday in FX

Market Drivers May 19, 2017 Cable rebounds to 1.3000 EUR trades near short term highs Nikkei 0.19% Dax 0.30% Oil $49/bbl Gold $1250/oz. Europe and Asia: NZD CC Spending 6.4% vs. 7.2% EUR CA 34B vs. 32B North America: CAD CPI 8:30 CAD Retail Sales 8:30 After a very volatile session yesterday that saw a mini flash crash in the pound, trading in the currency market was decidedly more orderly today with most of the majors recovering their losses and cable retaking the key 1.3000 level by...

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Dollar – Is this a Relief Rally or Exhaustive Bottom?

Dollar – Is this a Relief Rally or Exhaustive Bottom? By Kathy Lien, Managing Director of FX Strategy for BK Asset Management After selling off sharply on Tuesday, the U.S. dollar finally traded higher against most of the major currencies but the rally has not convinced the bears to give up selling as the greenback struggled to move above important resistance levels. For example, USD/JPY backed off 112 and EUR/USD held 1.10. In order for the dollar to bottom, we need to see these key...

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