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04-11-2019 08:15

Brexit day extended to Oct 31. Swift move lower in gold prices driving broad USD strength into NY trade
Brexit day extended to Oct 31.  Swift move lower in gold prices driving broad USD strength into NY trade

• EU grants UK six month extension to ratify Brexit withdrawal agreement. GBP directionless.
• June gold prices tumbling back below 1310 into NY trade.
• USDCAD probes above chart resistance zone in the 1.3360-70s.
• International Energy Agency cites “mixed signals” for oil demand growth for the rest of 2019.
• EURUSD and AUDUSD on the hunt for buyers once again.
• USDJPY recovers back above Fibo support in the 111.10s.
• Five Fed member speeches on deck today, plus the BOC’s Wilkins at 1pmET.
• US PPI for March beats expectations (+2.2% YoY vs +1.9%).

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Jennifer Danuff at 08:15 AM

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04-10-2019 09:24

Super Wednesday kicks off with bullish OPEC supply news, mixed US CPI and a dovish Mario Draghi
Super Wednesday kicks off with bullish OPEC supply news, mixed US CPI and a dovish Mario Draghi

• Weekly EIA oil inventory report up next at 10:30amET. FOMC Minutes at 2pmET. Emergency EU Summit underway re: Brexit.
• Mario Draghi speaking to reporters following latest ECB decision to keep monetary policy unchanged.
• EURUSD reversing lower. AUD following suit. USDCAD regains the 1.3330s.
• USDJPY clinging to support in the 111.10s.
• China reports March CPI figures tonight at 7:30pmET.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Jennifer Danuff at 09:24 AM

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04-09-2019 08:15

Trump announces $11bln in new tariffs against the EU
Trump announces $11bln in new tariffs against the EU

• EURUSD little fazed on the headlines. Market bid above 1.1270s, with massive option expiries adding weight.
• GBPUSD pops on rumors of Germany being amenable to a 5yr time limit on Irish backstop, then fizzles when reports denied.
• AUDUSD builds upon gains, after breaking out above the 0.7105 level yesterday. Copper rally supporting.
• USDJPY on the defensive once again as Japanese investors sell the Nikkei. Key support at 111.15 being put to the test.
• USDCAD trying to bounce off trend-line support in the 1.3280s after Libyan tension sparks oil rally.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Jennifer Danuff at 08:15 AM

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04-08-2019 08:15

USD trades broadly lower to start week
USD trades broadly lower to start week

• EURUSD shorts at CME at new 32 month high ahead of the ECB policy meeting this Wednesday.
• Brexit April 12th deadline looms. Theresa May to meet Germany’s Merkel ahead of emergency EU summit on Wednesday.
• AUDUSD riding coattails of EURUSD and copper rally to start week. Move back above 0.7105 supportive technically.
• USDJPY slumps lower after swift reversal lower in the Nikkei during Asian trade.
• USDCAD leaking lower amid broad USD selling. Both Canadian Housing Starts and Building Permits miss expectations, but traders yawn.
• US March CPI and FOMC Minutes on deck this week.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Isabella Guevara at 08:15 AM

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04-05-2019 08:15

It's the 1st Friday of the month. That means payrolls!
It's the 1st Friday of the month.  That means payrolls!

• Traders expecting +180k jobs gained in the US for the month of March, and just 1k gained in Canada.
• Consensus expects +3.4% MoM wage growth in the US and +2.2% MoM for Canada.
• USDCAD and USDJPY toying with upside breaks of chart resistance.
• GBPUSD lagging after Theresa May proposes another short Brexit extension to June 30.
• EURUSD and AUDUSD trading range-bound.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Jennifer Danuff at 08:15 AM

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04-04-2019 08:15

USD trading quietly higher ahead of US & Canadian employment reports tomorrow
USD trading quietly higher ahead of US & Canadian employment reports tomorrow

• USDCAD inching higher, with 1.3350-60 resistance channel acting as today’s pivot.
• EURUSD slips lower following abysmal German Factory Order data and rumors of an Italian GDP downgrade for 2019.
• GBPUSD sees selling traders give up on attempts to break above the 1.3170s. All eyes on Labour leader Jeremy Corbyn.
• AUDUSD struggling to hold 0.7110s as EURUSD and copper sales weigh.
• USDJPY trading quietly range-bound.
• The Fed’s Mester will be speaking at 1pmET. Williams to speak at 4pmET.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Isabella Guevara at 08:15 AM

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04-03-2019 08:15

Better than expected Australia and European data propels risk sentiment higher today
Better than expected Australia and European data propels risk sentiment higher today

• Australia reports stellar Retail Sales and Trade Balance data for February.
• Pan-European Services PMI data beats expectations.
• S&P futures trading higher while the USD trades broadly lower.
• USDCAD hugging pivotal chart support at 1.3300.
• US ADP employment growth for March disappoints. +129 vs +175k expected.
• US Non-Manufacturing PMI at 10amET. Weekly EIA oil inventory report at 10:30amET.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Jennifer Danuff at 08:15 AM

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04-02-2019 08:15

US Durable Goods for February on deck
US Durable Goods for February on deck

• Traders expecting -1.8% MoM.
• USDCAD continues to struggle as stocks and crude oil extend gains.
• AUDUSD falls after the RBA reiterates its neutral economic outlook.
• GBPUSD trading lower again after the UK parliament fails to reach majority on four indicative votes.
• Large option expiries in play today in EURUSD, AUDUSD and USDJPY.
• Australian Retail Sales & Trade Balance data on deck for tonight.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Jennifer Danuff at 08:15 AM

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04-01-2019 08:15

Huge beat on Chinese manufacturing PMI boosts risk sentiment to start week
Huge beat on Chinese manufacturing PMI boosts risk sentiment to start week

• US Retail Sales and US ISM figures on deck today.
• USDCAD holding chart support in the 1.3340-50s. BOC’s Poloz speaking at 3:10pmET.
• EURUSD pivoting around the 1.1230s while AUDUSD wrestling with the 0.7120s.
• GBPUSD rallying after a surge in the UK’s manufacturing PMI for March. No-deal Brexit stockpiling noted.
• UK Parliament planning more indicative votes this afternoon.
• Reserve Bank of Australia announces its latest interest rate decision tonight at 11:30pmET.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Isabella Guevara at 08:15 AM

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03-29-2019 08:15

Happy Brexit day
Happy Brexit day

• Britain was supposed to formally leave the EU today. UK lawmakers to vote on withdrawal agreement portion of Brexit deal at 9:30amET.
• GBPUSD rallies off overnight lows on rumors that the Labour party will support Theresa May today. DUP party still defiant.
• Treasury secretary Mnuchin signals “constructive” talks with China today. S&Ps, crude oil, copper, CNH all trading higher.
• USD trading broadly lower amid “risk-on” vibe. USDCAD struggling with 1.3430s. EURUSD eyeing break above 1.1230s.
• Canadian GDP figures for January on deck at 8:30amET. Consensus expects 0% growth.

Tags: currency news , cad , gbp , usd , eur , foreign currency market analysis , currency market rates

Posted By Isabella Guevara at 08:15 AM

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