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Tag Archives: UK Outlook

FX: Nothing Matters More than Trade. Not ECB, Not Fed.

FX: Nothing Matters More than Trade. Not ECB, Not Fed. Daily FX Market Roundup 12.12.19 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Nothing matters more to the direction of currencies over the next few days than President Trump’s Chinese tariff decision. That includes this week’s Federal Reserve and the European Central Bank’s monetary policy decisions. On Wednesday, Jerome Powell left interest rates unchanged but made it clear that rate hikes are not on the...

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Buck Buckles Post FOMC

Market Drivers December 12, 2019 UK goes to the polls Dollar remains offered post FOMC Nikkei 0.14% Dax 0.42% UST 10Y 1.804% Oil $59/bbl Gold $1473/oz BTCUSD $7188 Europe and Asia: SNB keeps rates at -0.75% North America: EUR ECB Meeting 8:30 The dollar was on offer is Asian and early European dealing today in the wake of yesterday’s dovish FOMC press conference. Post FOMC we only half-jokingly noted that the whole event could have been summarized by – Powell, I’ll never hike rates again...

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Cable Wobbles on Tory Troubles

Market Drivers December 11, 2019 YouGov shows a slide in polls All eyes on FOMC Nikkei -0.08% Dax -0.27% UST 10Y 1.83% Oil $58/bbl Gold $1463/oz BTCUSD $7238 Europe and Asia: No Data North America: USD CPI 8:30 USD FOMC 14:00 Cable crumbled in early Asian session trade when a new poll suggested that Tory lead has shrunk to 28 seats from 68 seats projected earlier. The YouGov MRP poll which takes a much more granular view of the election by trying to project seat wins rather than just...

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FOMC preview – What FX Traders Can Expect from Powell

FOMC preview – What FX Traders Can Expect from Powell Daily FX Market Roundup 12.10.19 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Thursday’s Federal Reserve monetary policy announcement is one of the most important events of the week but we don’t expect fireworks. This is the last FOMC meeting of the year and there’s zero chance of a change in policy. However a press conference follows every central bank meeting and there’s always the possibility of market...

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Big Week for EURO & USDJPY

Big Week for EURO & USDJPY Daily FX Market Roundup 12.09.19 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The holidays may be approaching but there’s at least at least one more week of potentially big moves for currencies before we settle into the seasonal lull. With two monetary policy announcements and a big decision on tariffs for US President Trump, an expansion in volatility is almost a certainty. It’s a particularly a big week for EUR/USD and...

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Cable Inches Towards 1.3200 as Johnson Lead Extends

Market Drivers December 9, 2019 Cable inches towards 1.3200 Chinese exports slide Nikkei 0.33 Dax -0.15% UST 10Y 1.823% Oil $58/bbl Gold $1462/oz BTCUSD $7492 Europe and Asia: CNY exposrt -1.1% North America: No Data FX markets were generally quiet at the start of the week with only pound showing and significant movement. Sterling hit seven-week highs today rising to 1.3181 in late Asian session dealing after a series of polls over the weekend showed Boris Johnson extending his lead over...

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USDJPY – The Rubber Hits the Road with US NFPs

Market Drivers December 6, 2019 Cable weaker on Corbyn accusation AU eyes on NFP Nikkei 0.23 Dax 0.017% UST 10Y 1.796% Oil $58/bbl Gold $1474/oz BTCUSD $7421 Europe and Asia: No Data North America: USD NFP 8:30 CAD Employment 8:30 FX markets were characteristically quiet ahead of US Non-Farm Payrolls report with cable the only exception as it gave ground after several days of strong rallies. The pound slid about 40 pips off the highs on claims by Labor leader Jeremy Corbyn that he was in...

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USD: Why You Shouldn’t Bank on Strong Non-Farm Payrolls

USD: Don’t Bank on Strong Non-Farm Payrolls Daily FX Market Roundup 12.05.19 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management US non-farm payrolls is traditionally one of the most market moving pieces of data for currencies and equities but its impact depends on how the jobs report affects monetary policy. In the case of the Federal Reserve, they’ve made it clear that after lowering interest rates three times this year, further easing is unnecessary. So if NFPs...

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Cable Continues Climbing

Market Drivers December 4, 2019 Cable continues ripping AU data misses Nikkei 0.71% Dax 0.01% UST 10Y 1.78% Oil $58/bbl Gold $1474/oz BTCUSD $7362 Europe and Asia: AU AUD Retail Sales 0.0% vs. 0.3% North America: No Data Generally quiet markets in FX today with very little on the global economic calendar to move pairs, but cable continued its climb higher hitting a high of 1.3147 in early London trade as enthusiasm over a Tory win helped fuel the rally. At this point, the market appears...

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Will Bank of Canada Trigger Breakout in USDCAD?

Will Bank of Canada Trigger Breakout in USDCAD? Daily FX Market Roundup 12.03.19 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management November was a great month for the US dollar but December is proving to be a challenging one. We are only 2 trading days into the new month, but President Trump is back to his old ways with the market reacting to all of the elusive comments coming out of the White House. On Monday, he called for lower interest rates and criticized the...

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