The Latest in Forex News & Analysis.

Monday opening levels

By CR | June 11, 2017 5:28 pm | 0 Comments

Majors staying unchanged from Friday close levels:

USDJPY 110.35

EURUSD 1.1205

GBPUSD 1.2740

USDCAD 1.3460

AUDUSD 0.7532

NZDUSD 0.7205


News over the weekend

-Germany Merkel: EU ready to begin BREXIT talks

-France Macron seen winning 415-455 seats at French Assembly

China Inflation numbers

By CR | June 8, 2017 9:49 pm | 0 Comments

CHINA May CPI +1.5%yoy as expected, vs 1.2% prior month, PPI +5.5% vs 6.4% prior but no reaction on these data as the market deeply focusing on UK election.

Cable in the meantime recovering from sub 1.27 to 1.2800 as Conservatives coming back a bit,  $JPY recovering 110 handle as Nikkei trading back above key 20k.

GBP collapses on UK exit poll

By CR | 5:17 pm | 0 Comments

Cable drops 1.3% down to 1.2730 as Exit Poll suggests Conservatives not reaching majority.

Possible Hung Parliament makes BREXIT talk even harder.

EURGBP jumps to 0.88 handle, highest level since March.


By CR | June 7, 2017 8:18 pm | 0 Comments

Japan Q1 GDP came out disappointingly low at 0.3% qoq vs 0.6% fcst and 0.5% prior quarter, Capital Expenditure was in line with exectation at 0.6% while Private consumption tad weaker at 0.3% vs 0.4% prior.

$JPY making a slow grind higher towards 110.00, N225 slightly lower but holding above 20k for now.

Other majors are quiet ahead of major events on Thursday, UK election getting a bit trickier as the Labor Party closing the gap to 1% according to Survation poll.


By CR | June 6, 2017 9:45 pm | 0 Comments

Australia Q1 GDP +0.3% qoq vs 1.1% prior, 0.2% fcst. +1.7% annualized vs 1.5% fcst.

AUD$ up about 20 pips to 0.7535 high so far testing its technical resistance 200d MA and Ichimoku cloud around 0.7535-40, also watch 0.7555 high seen in May.


Other majors are staying quiet in tight ranges, with slight recovery in $JPY up to 109.55 and GBP down to 1.2900.


Next data Japan Leading Index at 0100 EDT.

RBA rate decision tonight

By CR | June 5, 2017 6:14 pm | 0 Comments

Reserve Bank of Australia’s monetary policy meeting announcement is scheduled at 0030 EDT(0430 GMT) tonight, expected to keep policy unchanged.

Australia is now the only developed country whose official rate is expected to cut this year with 20% chance of a 25bp cut by the end of 2017 is priced in.

Australia Q1 c/a will be out prior to RBA announcement at 2130 EDT, worth watching if it comes out to be the first c/a SURPLUS since 1975, consensus is -0.5bio A$ vs -3.9bio prior.

AUD$ levels to watch

  • 0.7538 Ichimoku cloud
  • 0.7530 200d MA
  • 0.7515 previous high
  • 0.7410 yday low
  • 0.7330 May low
  • 0.7300 Fibo

new week opening levels

By CR | June 4, 2017 5:18 pm | 0 Comments

GBPUSD opening 30 pips lower from Friday close currently trading at around 1.2860, terror attack in London over the weekend weighing on GBP, and latest poll suggests UK PM May’s conservative party to lose 20 seat at the upcoming election this Thursday.

Other currency pairs are pretty much unchanged from Friday closing levels.

$JPY 110.40

EUR 1.1275

GBP 1.2860

$CAD 1.3495

AUD 0.7428

NZD 0.7132

New month, new highs

By CR | June 1, 2017 5:18 pm | 0 Comments

DJIA, S&P, Nasdaq all closed at new record highs today in NY thanks to stronger than expected ADP, firm PMI and ISM, Q2 GDP forecast revised up Atlanta Fed GDPNow, then Trump announced US exit from “PARIS Accord” which is apparently good for U.S. industries.


Currency market stayed quiet with USD staying bid overall for the same reasons stated above, await NFP tomorrow morning, market consensus 185k but more players are expecting stronger number now after this morning’s ADP.


No major economic data out of Asia tonight, Spain unemployment, EU PPI and UK Construction PMI out of Europe later followed by U.S. NFP.


By CR | May 31, 2017 9:36 pm | 0 Comments

Australia April Retail Sales came out strong +1.0% vs 0.3% est and -0.1% prior.

AUD$ popped up to 0.7443 from 0.7425 before the number.

Capital expenditure numbers were out as well, Building capital +0.7%mom vs -1.5% prior, Machinery capital -0.1%qoq vs -0.5$ prior and Private new capital +0.3%qoq vs -1.0% prior.


Other pairs are rather quiet, $JPY slowly recovering 111 handle along with slightly higher N225, EUR$ mostly unchanged for now.


By CR | May 30, 2017 6:04 pm | 0 Comments

YouGov Poll projects UK conservative party to fall 16 seats short of overall majority


GBP falls sharply lower to 1.2789 from 1.2860-65

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