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Tag Archives: UK Outlook

Currencies Rally but Beware of Trump’s China Tariff Announcement

Currencies Rally but Beware of Trump’s China Tariff Announcement Daily FX Market Roundup 09.17.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management No bulls were in sight today as the U.S. dollar traded lower against all of the major currencies. Softer U.S. data may finally be catching up to the greenback but the primary reason for the dollar’s slide was the improvement in risk appetite. Reports that the U.S. will “only” impose a 10% instead of 25% tariff on $200...

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Is the Dollar Baaack?

Is the Dollar Baaack? Daily FX Market Roundup 09.14.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management USD/JPY defied fundamentals today to hit a 7-week high above 112. The greenback strengthened against all of the major currencies with euro leading the slide. Retail sales grew at its slowest pace in 6 months but the dollar rallied because every policymaker who spoke on Friday said more tightening beyond September is needed. Even FOMC voter and Fed President...

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Euro Tests 1.17 on ECB – Trade or Fade?

Euro Tests 1.17 on ECB – Trade or Fade? Daily FX Market Roundup 09.13.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Investors sent EUR/USD to its highest level this month on the back of the European Central Bank’s monetary policy announcement. Considering that euro was trading strongly ahead of the rate decision, it didn’t take much for the currency pair to hit 1.17 and now that it has many traders are wondering if they should fade or follow the move. To...

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BoE vs. ECB – Which will be the Biggest Surprise?

BoE vs. ECB – Which will be the Biggest Surprise? Daily FX Market Roundup 09.12.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Thursday is a big day for euro and sterling. There are 2 monetary policy announcements on the calendar and the U.S. consumer price report. This means that not only will we learn how eager central banks in Europe are to tighten monetary policy but we’ll also see how much pressure there is for the Federal Reserve to continue raising...

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Could PPI Push USDJPY to 112.00?

Market Drivers September 12, 2018 GBPUSD above 1.3000 but 1,3050 caps EU slighhtly lowers growth projections Nikkei -0.27% Dax -0.22% Oil $69/bbl Gold $1197/oz. Bitcoin $6200 Europe and Asia: No Data North America: USD PPI 8:30 It’s been a very choppy quiet night of trade in FX with majors aimlessly trapped in tight 20 point ranges for most of early European trade. With no eco data on the docket, FX was subject to headline risk with EURUSD popping up above 1.1600 only to fall back below...

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Brexit Deal is Near So Why is GBP So Weak?

Brexit Deal is Near So Why is GBP So Weak? Daily FX Market Roundup 09.11.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management It was an extremely volatile day for sterling. Taking a look at how GBP/USD traded on an intraday basis, there were at least 3 unexplained spikes that ranged from 50 to 80 pips. GBP is usually more active than other currencies but rarely do we see such wide ranges within a 3 to 5 minute period. Fundamentally, here a number of reasons why GBP...

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Dollar Bulls Respond to Strong NFP & Trade Attacks

Dollar Bulls Respond to Strong NFP & Trade Attacks Daily FX Market Roundup 09.07.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The trade war is back and investors don’t like it. The U.S. dollar traded higher against all of the major currencies today on the back of a stronger jobs report and President Trump’s threat of fresh tariffs on China and Japan. Stocks extended their slide and unless the President retracts his threats, further losses are likely...

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Will Non-Farm Payrolls Drive EURO to 1.17?

Will Non-Farm Payrolls Drive EURO to 1.17? Daily FX Market Roundup 09.06.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management This Friday’s non-farm payrolls report is very important with a Federal Reserve rate hike expected later this month. The jobs report is crucial to shaping expectations for the Fed meeting. With the market pricing in 96.3% chance of a hike, the U.S. economy would have to report job losses for the central bank to pass on tightening this...

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Here’s Why EUR and GBP Could Extend Their Recovery

Here’s Why EUR and GBP Could Extend Their Recovery Daily FX Market Roundup 09.05.18 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management Except for two very brief periods of volatility it was an extremely quiet day in the forex market. The greenback reversed from earlier gains to end the day lower against all of the major currencies. The biggest story was the pop in EUR and GBP at 9:05AM ET followed by the 11:20AM ET drop in sterling. Before, during and after these...

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Cable Crushed by Brexit Burden

Market Drivers September 5, 2018 UK data beats but cable dips below 1.2800 BOC in view Nikkei -0.51% Dax -0.84% Oil $68/bbl Gold $1193/oz. Bitcoin $7100 Europe and Asia: GBP UK PMI Services 54.3 vs. 53.9 EUR EZ Retail Sales 1.1% vs. 1.3% North America: CAD Trade 8:30 USD Trade 8:30 CAD BOC Decision 10:00 The dollar remained bid in Asian and mid-morning European trade as risk-off flows continued to dominate the markets with both Nikkei and Dax lower by more than 50 basis points. Cable was...

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