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Tag Archives: UK Outlook

Are Powell’s Rate Comments a Game Changer for the US Dollar?

Are Powell’s Rate Comments a Game Changer for the US Dollar? Daily FX Market Roundup 11.28.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The big story in the FX market today was the sharp sell-off in the U.S. dollar. The greenback fell quickly and aggressively after Fed chair Jerome Powell surprised investors by saying that interest rates are “just below” neutral levels. This view represents a significant departure from his comments back in October when he...

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Pound Perks Up; Dollar Bulls Awaits US Data

Market Drivers November 28, 2018 Pound recovers a bit ahead of Brexit analysis FX Steady Nikkei 1.02% Dax 0.06% Oil $51/bbl Gold $1213/oz. Bitcoin $4120 Europe and Asia: EUR Money Supply 3.9% vs. 3.5% North America: USD GDP 8:30 USD Core PCE 8:30 USD New Home Sales 8:30 It’s been a quiet and steady night in FX with little newsflow or price action as currency markets awaited the release of Brexit analysis to Parliament and US GDP data late in the day. PM May government is scheduled to...

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This Could Be the Next Currency to Fall…

This Could Be the Next Currency to Fall… Daily FX Market Roundup 11.27.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The U.S. dollar traded higher against most of the major currencies today after Federal Reserve Vice Chairman Richard Clarida said he backed gradual rate hikes with an eventual move towards neutral rates. Although he also admitted that they don’t really know where the neutral level is and expressed concern about lower inflation expectations,...

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Pound Feels the Heat as 1.2800 Broken

Market Drivers November 27, 2018 Bears push cable towards key 1.2700 support Dollar Stays bid ahead of G-20 Nikkei 0.64% Dax 0.03% Oil $51/bbl Gold $1221/oz. Bitcoin $3700 Europe and Asia: No Data North America: No Data Cable was under assault once again in Asian and early European trade today with shorts breaking the 1.2800 barriers as Brexit pressures continued to weigh on the unit. It’s becoming increasingly clear that barring a 2nd referendum, UK will face the unpalatable choice of...

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Is the Pop in USD/JPY Durable?

Is the Pop in USD/JPY Durable? Daily FX Market Roundup 11.26.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The best performing currency pair today was USD/JPY, which broke out of a 5 day long consolidation to trade above 113.50. A number of factors contributed to today’s moves but the primary driver was strong Black Friday sales. According to Adobe Analytics, which tracks transactions from 80 of the top 100 internet retailers, online sales hit a record $6.22...

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Brexit, Italy and Risk Aversion Drive FX Post Holiday Flows

Brexit, Italy and Risk Aversion Drive FX Post Holiday Flows Daily FX Market Roundup 11.23.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The biggest story last week was the meltdown in equities that spilled over to currencies. U.S. stocks turned negative for the year after erasing all of its gains. This is significant because less than 2 months ago, the S&P 500 was up about 9%. It lost all of that in a matter of a month, recovered briefly and is now back...

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FX – Post Thanksgiving Breakout & Latest Brexit Trouble

FX – Post Thanksgiving Breakout Daily FX Market Roundup 11.21.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management *Happy Thanksgiving to my friends in the US! After Tuesday’s sharp slide in U.S. equities, stocks rebounded in pre-holiday trade fostering a broad based recovery in currencies. The U.S. dollar pulled back against most of the major currencies except for the Japanese Yen and Swiss Franc. The resilience of USD/JPY continues to surprise considering that...

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Stocks Melt Down & Most Currencies Follow

Stocks Melt Down & Most Currencies Follow Daily FX Market Roundup 11.20.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management U.S. stocks sold off sharply today as the decline in equities sent currencies tumbling lower. Unlike prior moves that may have been fueled by Fed speak or data, heavy selling of tech stocks drove today’s decline. Risk aversion was the primary theme with the Australian and Canadian dollars falling the hardest. The U.S. dollar rose...

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Jittery Trade in FX, Market Looks to US Housing Data

Market Drivers November 20, 2018 Cable seesaws again EURUSD feeling pressure from GE/IT spread Nikkei -1.09% Dax -0.86% Oil $57/bbl Gold $1222/oz. Bitcoin $4600 Europe and Asia: No Data North America: Building Permits/Housing starts 8:30 Another night of grinding seesaw action in FX tonight, with cable, as usual, seeing the most volatility. The situation surrounding the Theresa May’s Brexit deal remains in a flux as she fights battles on all fronts. She is still under threat of...

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Has Dollar Sentiment Turned?

Market Drivers November 19, 2018 Barnier suggest UK extend til 2022 Dollar remains offered Nikkei 0.65% Dax 0.55% Oil $57/bbl Gold $1219/oz. Bitcoin $5300 Europe and Asia: EUR CA 17B vs. 23B North America: No Data The FX markets were generally sedate on the first trading day of the week, but the dollar was weaker across the board with the exception of commodity dollars which retraced some of the outsized gains made Friday. Traders were still digesting the words of Vice Chair Richard...

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