The Latest in Forex News & Analysis.

Service PMI UK

By | August 3, 2017 5:13 am | 0 Comments

Service PMI in UK came out stronger than expected 53.8 vs 53.6 forecast. The reading suggests an expansion in the UK economy with the pair GBP/USD  trading higher at 1.3268.

All eyes now on the UK inflation report, interest rate decision and the press conference by BoE president Carney later today.

 

NZ job data

By | August 1, 2017 6:58 pm | 0 Comments

New Zealand 2Q labor data came out much weaker than expected with employment change at  -0.2% instead of 0.7% forecast and 1.2% prior, Unemployment rate improved slightly to 4.8% from 4.9% prior quarter.

NZD dropped immediately from 0.7465-70 to 0.7420, next support is seen at around 0.7360-70 trendline from May low.

the new month

By | July 31, 2017 9:04 pm | 0 Comments

Quiet start of August with the Greenback making some minor come backs across the board after reaching new 2 year-high in EUR$.

 

Japan July Manufacturing PMI came out 52.1 vs 52.2 prior month, had little impact on $JPY, N225 hovering around big 20k level.

 

Later tonight we have RBA rate decision expected to stay unchanged, statement needs to be closely monitored if they express discomfort on recent AUD$ gain.

 

Then we have German employment data followed by EU and UK PMI, watch EUR$ for a break above 1.1845 high today, 1.1877 monthly Ichimoku cloud, then 1.1920 area which translates to the key 92.00 in Dollar index.

Fareast opening levels

By | July 30, 2017 5:15 pm | 0 Comments

Monday 7/31/2017 Sydney open levels  (Friday close)

  • $JPY 110.65   (110.70)
  • EUR$ 1.1750   (1.1750)
  • GBP$ 1.3130   (1.3134)
  • $CHF 0.9695   (0.9687)
  • $CAD 1.2438   (1.2433)
  • AUD$ 0.7937   (0.7985)
  • NZD$ 0.7508   (0.7518)

News over the weekend

  • -Trump responds to N Korea with missile defense test and B-1 drills.
  • -Putin confirms US diplomatic missions in Russia will be cut.

Looking ahead (EDT):

  • 1950 Japan June Industrial Production
  • 2100 Australia HIA new home sales
  • 2100 China Manufacturing PMI
  • 2100 New Zealand ANZ Business confidence

US GDP

By | July 28, 2017 10:56 am | 0 Comments

US GDP as expected at 2.6%. The market reacted with USD selling anyway because of the Employment Cost Index (0.5% vs 0.6% forecast) and Employment Wages (0.5% vs 0.8% prior), that raise question about the improvement in inflation.

Biggest mover was USD/CAD, also because of the CAD GDP MoM (0.6% vs 0.2% forecast) and the continued rally in the price of Crude Oil.

 

 

 

Japan Economic Data

By | July 27, 2017 7:37 pm | 0 Comments

Japan June Nationwide CPI +0.4% as expected

Tokyo July core CPI 0.2%yoy vs 0.1% fcst

Japan June Unemployment 2.8% much better than 3.1% prior

Japan June household spending +2.3% vs 0.6% fcst

 

Overall positive number for Japan, could be positive JPY(may push $JPY lower) but positive Nikkei should support $JPY so net net not expecting a big move in FX out of these data.

$JPY marginally lower to 111.11 given

 

Japan June Retail sales coming up next at 1950 EDT

FED interest rate decision

By | July 26, 2017 2:36 pm | 0 Comments

The FED disappointed the USD bulls by saying that “balance sheet unwind will start relatively soon”, leaving too much room for uncertainty and timing of the operation. The market reacted immediately with USD selloff that continued steady bringing EUR/USD at 1.17 and pushing higher all the other currencies against the greenback.

Important to mention anyway are the bullish EUR comments by ECB Nowotny who stated (few minutes before the FED announcement) that with the risk of deflation gone in the euro area, the Central Bank has to consider the technical aspects of QE end.

 

 

 

AUSTRALIA CPI

By | July 25, 2017 9:42 pm | 0 Comments

AUSTRALIA CPI

 

Australia Q2 CPI came out 0.2%qoq lower than 0.4% forecast, year-on-year was 1.9% missing 2.0% target. AUD$ traded down to 0.7892 from 0.7925-30, now await RBA Governor Lowe’s speech at 2305 EDT.

 

In the meantime BOJ Deputy Governor Nakaso on wire saying still long way to go to meet 2% inflation, will pursue current monetary easing to meet price stability target. $JPY trading above 112.00

Asian morning session

By | July 24, 2017 8:57 pm | 0 Comments

Australia weekly consumer confidence 115.1 vs 112.5 prior, AUD$ unaffected.

BOJ June meeting minutes out saying many members agreed to keep powerful easing and a few members said important to explain how exit will impact BOJ’s finances.

Earlier today, PM Abe’s advisor Koichi HAMADA said he supports reappointing BOJ governor Kuroda when his term ends April 2018.

N225 slow grind higher to 20k pushing $JPY higher to 111.33 at present also pushed by “Go-Toh-Bi” Tokyo fixing demand.

Opening levels: mostly unchanged from Friday close

By | July 23, 2017 5:43 pm | 0 Comments

Monday 7/24/2017 Sydney open levels  (Friday close)

$JPY 111.14   (111.13)

EUR$ 1.1668   (1.1662)

GBP$ 1.2996   (1.2992)

$CHF 0.9453   (0.9458)

$CAD 1.2546   (1.2540)

AUD$ 0.7905   (0.7911)

NZD$ 0.7451   (0.7453)

 

News over the weekend

-EU ready to retaliate against US sanctions on Russia: FT

-Scaramucci says Trump still not sure Russia interfered in election.

 

Looking ahead:

2030 EDT JPN PMI

0100 EDT JPN Leading

0100 EDT SG CPI

0330 GER PMI

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FXDD Now provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FXDD Now specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FXDD Now expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.