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Tag Archives: UK Outlook

In FX – No Place to Hide

Market Drivers December 10, 2018 EU Reverses anti-dollar flows UK data misses across the board Nikkei -2.12% Dax -0.68% Oil $52/bbl Gold $1246/oz. Europe and Asia: GBP UK Trade -11.8B vs. -10.5B GBP UK MP -1.0% vs.0.0% GBP UK IP -0.6% vs. 0.1% North America: CAD Building Permits 8:30 A whipsaw session at the start of the week with majors first rallying against the greenback on falling US rates, only to reverse course by London open as dour data from Europe sent cable and euro back...

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FX Risk Aversion Intensifies with NFPs

FX Risk Aversion Intensifies with NFPs Daily FX Market Roundup 12.07.2018 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The last month of the year kicked off with a bang but not in the way that many of us would have hoped. Equity markets sold off across the globe and in the world of currencies, the U.S. and Australian dollars were the worst performers. A convergence of negative news pressed both currencies lower but most of the concerns centered on China,...

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US Dollar Hit by Convergence of Negative News

US Dollar Hit by Convergence of Negative News Daily FX Market Roundup 12.06.2018 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management A convergence of bad news sent equities and currencies tumbling lower. U.S. assets were hit the hardest today with USD/JPY falling to a fresh one month low and the Dow Industrial Average dropping more than 750 points intraday. Although stocks rebounded off the lows into the close, risk aversion remained. Today’s sell-off started with...

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Will US Data Kneecap the Dollar?

Market Drivers December 6, 2018 Risk off flows dissipate by EU Open A slew of US data on tap Nikkei -1.91% Dax -1.19% Oil $53/bbl Gold $1235/oz. Bitcoin $3873 Europe and Asia: AUD AU Trade 2.3B vs. 3.2B AUD AU Retail Sales 0.3% vs. 0.2% EUR GE Factory Orders 0.4% vs -0.3% North America: USD ADP 8:15 USD ISM Non Manufacturing 10:00 CAD Ivey PMI 10:00 The sharp risk-off flows that greeted traders on the start of Asia open dissipated a bit when London came on line helped by positive...

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The Strength of USD & Meltdown in CAD

The Strength of USD & Meltdown in CAD Daily FX Market Roundup 12.05.2018 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management After Tuesday’s nearly 800 point drop in the Dow, investors feared the worst for stocks as this was the largest one day decline in almost 2 months. Yet outside of the sell-off in USD/JPY, the other currencies were unfazed with euro and sterling ending Tuesday unchanged. US markets were closed today in memory of President George H.W. Bush...

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Can We Possibly Be Headed to for Hard Brexit?

Market Drivers December 5, 2018 UK PMI Services Misses AUD GDP sinks Nikkei -0.53% Dax -1.00% Oil $52/bbl Gold $1235/oz. Bitcoin $3883 Europe and Asia: AUD AU GDP 2.8% vs. 3.2% GBP UK PMI 50.4 vs. 52.5 North America: No Data – Markets Closed Cable recovered in early London dealing today retaking the 1.2700 figure despite latest economic data that suggested the services sector is on the verge of contraction. UK PMI Service came in at 50.4 – much lower than 52.5 expected and within a...

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Dollar Hits 10 Day Lows

Market Drivers December 4, 2018 GBP pops on ECJ ruling Dollar hits 10-day lows Nikkei -2.39% Dax 0.78% Oil $54/bbl Gold $1240/oz. Bitcoin $4041 Europe and Asia: GBP UK PMI 53.4 vs. 52.5 EUR EZ CPI 0.8% vs. 0.5% North America: No Data The dollar index hit a 10 day low as the slide in US yields continued to weigh on the buck in Asian and early European session. With G-20 behind them, the market started to focus on the Fed and the upcoming meeting and press conference that could provide...

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FX – Not Everyone Buys Trump and Xi’s 90 Day Trade Truce

FX – Not Everyone Buys Trump and Xi’s 90 Day Trade Truce Daily FX Market Roundup 11.29.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management By now, everyone knows that President Trump and President Xi agreed to a 90-day trade truce in Argentina. With this agreement, there will be no imminent threat of additional tariffs until March 1st. Currencies and equities gapped higher as investors who feared the worst found the outcome satisfactory. However, aside from the...

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Risk on in FX, But USD Selloff Limited

Market Drivers December 3, 2018 Euro pops on double dose of good news UK PMI beats Nikkei 1.00% Dax 2.67% Oil $53/bbl Gold $1231/oz. Bitcoin $4041 Europe and Asia: GBP UK PMI 53.1 vs. 52.0 North America: USD ISM Manufcaturing 10:00 FX Markets saw a pop in risk appetite at the start of week’s trade, but the rally in the majors faded by London morning dealing with both euro and cable well off the session highs, while Aussie and kiwi held on to most of their gains. The gap opening was...

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G20 Concerns Restrain Currency Movements

G20 Concerns Restrain Currency Movements Daily FX Market Roundup 11.29.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management We’ve seen very little continuation to yesterday’s moves when the U.S. dollar dropped sharply on the back of Fed Chair Powell’s comments on interest rates. USD/JPY extended slightly lower but GBP/USD retreated and EUR/USD was unchanged. Powell’s view that rates are just under neutral levels is a sign that they intend to slow their pace of...

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