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Tag Archives: US Outlook

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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Can Weaker US Data Make Trade Deal More Likely?

Market Drivers December 4, 2019 Cable clears 1.3000 Sources – trade deal near Nikkei -1.05% Dax 1.00% UST 10Y 1.744% Oil $56/bbl Gold $1476/oz BTCUSD $7262 Europe and Asia: AU AUD GDP 0.4% vs. 0.5% UK GBP UK PMI Services 49.3 vs. 48.6 North America: USD ADP 8:15 USD ISM Non-Manufacturing 10:00 CAD BOC 10:00 Another night of reversal in the FX markets with majors shrugging off risk-off flows after a report by Bloomberg suggested that a phase 1 trade deal was much closer than realized and...

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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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Trump – No Deadline on Trade Deal; Risk Dumps

Market Drivers December 3, 2019 RBA stays on hold Aussie rallies Cable inches higher on better polls Nikkei 1.01% Dax 0.687% UST 10Y 1.85% Oil $58/bbl Gold $1455/oz BTCUSD $7327 Europe and Asia: AU AUD RBA on hold North America: No Data An impromptu press conference by President Trump turned into a massive risk-off event when he casually mentioned that he had no deadline for Phase 1 trade deal with China and could wait until after the election if need be. Equities immediately dumped on...

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AUD Breaks Out, Can Gains be Sustained on RBA?

AUD Breaks Out, Can Gains be Sustained on RBA? Daily FX Market Roundup 12.02.19 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management One of the best performing currencies today was the Australian dollar. AUD jumped nearly 1 percent against the US dollar to its strongest level since November 20th. On a technical basis, this move goes a long way in nullifying the downtrend but Australian data is weak so a fundamental basis, its hard to trust the rally. According to the...

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Risk Explodes Higher as Week Begins

Market Drivers December 2, 2019 Risk takes off at the start of the week Kiwi breaks .6450 Nikkei 1.01% Dax 0.687% UST 10Y 1.85% Oil $58/bbl Gold $1455/oz BTCUSD $7327 Europe and Asia: UK GBP PMI Manufacturing 48.9 vs. 48.3 North America: USD ISM Manufactuing 10:00 Risk assets exploded higher at the start of week’s trade after Chinese PMI data which was released over the weekend showed improvement. Chinese Manufacturing PMI printed at 50.2 versus 49.5 rising above the boom/bust 50 mark...

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Dollar Ends November Strong, Busy Week Ahead

Dollar Ends Month Strong, Busy Week Ahead Daily FX Market Roundup 11.29.19 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management November was a great month for the US dollar. The greenback traded higher against all of the major currencies with USD/JPY and USD/CHF rising to their strongest levels since June. After lowering interest rates at the end of October, US policymakers made it clear that despite ongoing trade uncertainty and weaker global growth, further easing...

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US Data Deluge Could Determine USDJPY Fate

Market Drivers November 27, 2019 USDJPY tries to pull away from 109.00 Cable weakens ahead of a key poll Nikkei 0.28% Dax -0.087% UST 10Y 1.74% Oil $58/bbl Gold $1457/oz BTCUSD $7123 Europe and Asia: No Data North America: USD Durable Goods 8:30 USD Chicago PMI 8:30 USD GDP 8;30 USD Personal Spending 10:00 Cable was appreciably lower ahead of a key UK poll while USDJPY tried to pull away from the 109.00 level as traders awaited a deluge of data from the US on the final full trading day...

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