The Latest in Forex News & Analysis.

CBRT raises rate by 300bp

By | May 23, 2018 1:13 pm | 0 Comments

Central Bank of the Republic of Turkey raised its benchmark lending rate by 3% to 16.5% from 13.5% in an attempt to halt Turkish Lira’s melt down.

USDTRY today traded 4.9270 high before the Central Bank raised rate, as Turkish currency lost over 30% against US Dollar since the beginning of the year.


Economic data release this week

By | May 21, 2018 12:53 pm | 0 Comments

FF Funds futures market pricing in 96.7% chance of 25bp hike at June’s FOMC meeting, Wednesday’s release of FOMC minutes should be important to predict the next move.

NAFTA TALK pushing USDMXN lower

By | May 16, 2018 4:02 pm | 0 Comments

Mexico Economy Minister Ildefonso Guajardo on wire saying possible to reach out NAFTA deal in May or June.

USDMXN  down over 0.5%

May 14 week Data/Event 

By | May 11, 2018 1:54 pm | 0 Comments

May 14 week Data/Event

NAFTA negotiation and US/China trade talk to resume

some additional data

Tue: GER GDP, UK Unemployment & GER ZEW


OIL price rallying

By | May 9, 2018 1:07 pm | 0 Comments

WTI reached $71.26 today, highest since December 2014.

Rally in oil price got triggered yesterday by President Trump’s announcement of withdrawal from Iran Nuclear deal, followed by oil inventories data released today -2.197m vs -0.2m forecast.

Technically looking positive after breaking above 68.2% retracement, Goldman Sachs research  sees a possible $6 rise this summer.

May 7th week schedule

By | May 4, 2018 3:20 pm | 0 Comments

RBNZ: expected to keep policy unchanged

BOE: OIS market pricing in 10% probability of a 25bp hike

US Labor Data

By | 1:10 pm | 0 Comments

US April NFP was 164k, weaker than expected while unemployment rate improved to 3.9% from 4.1% previous month. Average hourly earning slowed to 0.1% mom vs 0.2% previous month.

Initial market reaction was lower USD, but quickly recovered the levels before the number, EUR$ in the meantime staying soft after weaker than expected GER PMI, EUR Zone PMI and Retail sales.

RBA Cash Rate Decision

By | May 1, 2018 1:28 am | 0 Comments

As expected the RBA left their cash rate unchanged at 1.50%. It is anticipated that the rate will continue to remain there for the foreseeable future.

Areas of underperformance such as wage growth and the housing market continue to influence the currency.

Look for Australia’s GDP to average over 3% for the next two years.

Mixed US Data

By | April 30, 2018 12:47 pm | 0 Comments

Several US Data came out this morning on the last day of the month.

  • Mar Core PCE +0.2% mom, unchanged from prior month
  • PCE Deflator +0.2% vs 0.1% fcst
  • Apr Chicago PMI 57.6 vs 58.2 fcst
  • Mar Pending Home Sales +0.4% vs 0.5% fcst
  • Apr Dallas FED 21.8 vs 25.0 fcst

USD marginally lower following soft stock market, DJIA flat, S&P, Nasdaq are lower for the day.

Treasury yield continues to rise

By | April 25, 2018 1:35 pm | 0 Comments

10 year US treasury yield climbed up to as high as 3.035% today, highest level since January 2014.

US Dollar is rallying across the board on the back of higher US rates, pushing $JPY onto 109 handle and EUR back below 1.2200.

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