The Latest in Forex News & Analysis.

The US takes the day off, dollar slump does not

By | January 16, 2018 1:41 am | 0 Comments

The dollar continues to be softer, even with the holiday in the states. As a result, Gold continues its push towards its highest level since September, Cable broke through 1.38 for the first time in roughly eighteen months and Euro still has its sights set on 1.23.

Yen’s recent strength against the slumping dollar slowed a bit today as Dollar Yen began to climb on the back of news out of Japan. A mixture of lower than expected PPI readings, Japan still seemingly a long way off from their 2% target inflation rate and comments from Japanese finance minister Taro Aso. In his comments he hinted that volatile price swings in currency could spell trouble. Naturally, this Yen weakness had corresponding effects on all Yen pairs.

 

CHINA to consider halting UST purchases

By | January 10, 2018 11:06 am | 0 Comments

Headline out “Chinese officials recommending to halt US Treasury buying”

Treasury yields jumping up across the curve, 10 year broke key 2.50% and testing 2.63 high seen in March 2017.

Dollar index dropped 40 points in a blink, sending EURO$ onto 1.20 handle and $JPY down to low 111. USD continues to trade under pressure for now.

N.A. Economic data

By | December 21, 2017 8:51 am | 0 Comments

Several Key Economic data out from U.S. and Canada this morning;

  • US Q3 GDP +3.2%qoq vs 3.3% expected
  • US Q3 core PCE +1.3% vs 1.4% expected
  • Initial Jobless claims 245k vs 231k expected
  • Chicago FED 0.15 vs 0.75 prior
  • Philly FED 26.2 vs 21.5 expected
  • Canada Nov  CPI +2.1%yoy vs 2.0% expected
  • Canada Oct Retail sales 0.8% vs 0.4% expected

US Dollar slightly lower on softer GDP and higher claims, $CAD dropped a big figure on a much stronger retail number.

New Zealand 3Q GDP

By | December 20, 2017 4:51 pm | 0 Comments

New Zealand 3Q GDP came out strong +2.7% yoy vs 2.4% expected. GDP Expenditure also strong at 0.9% qoq.

NZ Dollar jumped up 25 points from 0.6975 onto 0.70 handle.

FED RAISED RATES BY 25BP

By | December 13, 2017 2:30 pm | 0 Comments

FED raised Fed Fund rate band by 25bp to 1.25-1.50% as expected, sees 3 hikes in 2018.

FOMC members Evans and Kashkari dissent in favor of no hike.

Not much change in the statement, saying inflation has declined this year but expect to stabilize around 2% over medium term. Sees faster 2018 growth, Labor market staying strong.

Fed Chair Ms Yellen’s press conference to follow.

November US PPI

By | December 12, 2017 12:35 pm | 0 Comments

November US PPI came out higher than expected +3.1%yoy vs +2.9% fcst, highest reading since early 2012.

USD traded higher across the board sending EUR$ to near its key support around 1.1700-20, $JPY to 113.75 high before settling down ahead of US CPI and FOMC tomorrow.

FOMC is expected to raise FF rate by 25bp tomorrow for the third time this year.

US November NFP

By | December 8, 2017 8:49 am | 0 Comments

November NFP was 228k, stronger than 200k forecast.

Unemplyment rate stayed unchanged at 4.1%.

Average hourly earnings was 0.2% for November, slightly weaker than 0.3% forecast, previous month was revised lower to -0.1% from flat.

Not much reaction in FX market after the number, slight USD heaviness due to weaker earnings number.

 

ADP employment

By | December 6, 2017 9:06 am | 0 Comments

November US ADP nonfarm employment number came out +190k as expected, little reaction in FX market so far.

NFP is scheduled to be released this Friday at 830 EDT, market consensus is 200k, some expectation for higher number due to an increasing labor force demand after a series of hurricanes hit Texas and Florida.

Headlines hitting the market

By | November 28, 2017 1:35 pm | 0 Comments

First headline: UK and EUR agreed on BREXIT bill

GBP rallied 150 points form 1.3220 to 1.3370

Second headline: UK Government denies BREXIT agreement report,

GBP dropped 70 points to 1.3300

Third headline: North Korea launched ballistic missiles,

$JPY dropped 40 points to 111.10

Stay tuned

GBP jumps higher

By | 12:59 pm | 0 Comments

GBP popped up almost a big figure to 1.3320 on the back of UK Telegraph headline saying UK and EU have reached agreement on BREXIT Divorce bill.

Cost of leaving the EU will be between 45 to 55 billion EUR, according to the article, which is lower than 60 billion EUR that EU side was initially asking.

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