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03-15-2019 08:15

China talks up further stimulus & US/China trade progress, but risk-on bid from Yuan strength now evaporating
China talks up further stimulus & US/China trade progress, but risk-on bid from Yuan strength now evaporating.

• April crude oil gives up 58.30s. USDCAD regains 1.3330s after bouncing off 1.3280-90s support.
• EURUSD continues to struggle with 1.1320s resistance. Huge option expiries likely weighing as well.
• GBPUSD trading calmly for a change. UK parliament passes motion to extend Article 50.
• AUDUSD rebounds on USDCNH dip, but fading now as EURUSD dips.
• USDJPY looking shaky after BOJ delivers expected status quo on monetary policy.
• Canadian Manufacturing Shipment data for January beats expectations. US Industrial Production figures up next.

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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03-14-2019 08:15

Weak Chinese Industrial Production figures for January ignite broad USD buying
Weak Chinese Industrial Production figures for January ignite broad USD buying

• USDCNH surges through 6.72. Copper falls 1.4%.
• EURUSD and AUDUSD peel back yesterday’s gains, while USDCAD bounces off 1.3280-90s.
• GBPUSD explodes higher following failure of the “no-Brexit deal” motion yesterday.
• Volatile session underway for GBP with Article 50 extension vote at 3pmET.
• USDJPY benefiting from broad USD buying. Bank of Japan meets 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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03-13-2019 08:15

Sterling bid after Theresa May loses 2nd meaningful Brexit vote yesterday. "No deal" Brexit vote on deck at 3pmET today.
Sterling bid after Theresa May loses 2nd meaningful Brexit vote yesterday.

• Shorts cover after traders could not push GBPUSD below 1.3050s yesterday. The 1.3140-50s are now resisting.
• EURUSD benefits from weak US CPI yesterday, but market still undecided with upside break of 1.1300 level.
• AUDUSD lagging today following weaker than expected Westpac consumer confidence data for March.
• USDJPY longs hanging in there as the S&Ps continue to march higher.
• USDCAD looking precarious with break below 1.3370s late yesterday. Crude oil up 1% today after bullish API report last night.
• US PPI and US Durable Goods figures up next at 8:30amET. Weekly EIA oil inventory report out 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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03-12-2019 08:15

Sterling goes on a Brexit roller-coaster ride
Sterling goes on a Brexit roller-coaster ride

• Last minute Theresa May trip to Strasbourg ignites 200pt rally in GBPUSD yesterday.
• UK Attorney General says legal risk for the UK remains unchanged re: Irish backstop. GBPUSD collapses.
• EURUSD putting fund shorts to the test with 1.1270s trend-line break.
• AUDUSD remains bid following yesterday’s move above 0.7050.
• USDCAD choppy, but cannot regain 1.3410s lost late yesterday. Crude oil holding gains above $57.
• USDJPY heavy on broad USD sales into NY trade.
• Brexit “meaningful vote” in UK Parliament at 3pmET.

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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03-11-2019 09:25

US reports better than expected Retail Sales for January, but an already bad December number is revised lower
US reports better than expected Retail Sales for January, but an already bad December number is revised lower

• US January Retail Sales +0.2% MoM vs -0.1%; December revised -1.6% MoM vs -1.2% originally reported.
• USDCAD bid, but within Friday’s post-employment report range (1.3405-1.3430). April crude oil bid on Saudi headlines.
• EURUSD traders trying to hold gains above 1.1230s. Funds extend short positions into March 5th.
• GBPUSD bouncing despite barrage of negative Brexit headlines. Tomorrow’s “meaningful vote” now not so certain to take place.
• AUDUSD threatening break above 0.7050s after mixed US Retail Sales report.
• USDJPY continues to hold 111.00 level. Bank of Japan meets on Thursday night.

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

Posted By Isabella Guevara at 09:25 AM

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03-07-2019 08:15

EURUSD plunges following ECB's announcement of new TLTROs and no rate hikes for 2019
EURUSD plunges following ECB's announcement of new TLTROs and no rate hikes for 2019

• EURUSD falling through 1.1280s support. ECB press conference now underway.
• Sterling on the defensive as well following reports that Theresa May will likely lose next week’s vote on her Brexit plan.
• AUDUSD hanging in there despite stronger Trade Balance/weak Retail Sales out of Australia.
• USDJPY traders buying the dip once again.
• USDCAD pulls off 1.3430s as oil upticks, but disappointing Building Permit data attracts buyers.
• Deputy Bank of Canada governor Patterson speaking at 12:45pmET today.

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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03-06-2019 08:15

USDCAD continues higher ahead of Bank of Canada meeting
USDCAD continues higher ahead of Bank of Canada meeting

• Decline in oil prices + weak AUDUSD helping USDCAD test resistance in the high 1.33s.
• Dovish hold to interest rates expected from the Bank of Canada at 10amET.
• AUD plunges as Australian Q4 GDP disappoints. Rate cut calls now making the rounds.
• EURUSD trading steady ahead of ECB meeting tomorrow.
• GBPUSD dialing back some of yesterday’s Carney driven gains.
• USDJPY back on the defensive after failed 112 trend-line break.
• US February ADP employment report narrowly misses expectations (+183k jobs vs +189k).
• Weekly EIA oil inventory report out at 10:30amET. APIs show massive build.

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

Posted By Rachel Butler at 08:15 AM

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03-05-2019 08:15

Sterling losses lead broad USD strength into NY trade
Sterling losses lead broad USD strength into NY trade

• USDCAD higher, but now running into chart resistance at 1.3340s. Bank of Canada meets tomorrow.
• EURUSD holding support in the 1.1310-20s as the pan-European Services PMIs beat expectations.
• GBPUSD falls despite upbeat UK Services PMI as algos sell the latest Brexit headlines.
• AUDUSD steady after the RBA keeps rates and the balanced outlook on hold.
• USDJPY holding gains ahead of hefty option expiries.
• US Non-Manufacturing ISM at 10amET. BOE’s Carney to speak at 10:35amET.
• RBA’s Lowe to speak at 5:10pmET. Australia reports Q4 GDP at 7:30pmET.

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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03-04-2019 08:15

USDCAD downtrend broken after Canada reports weaker than expected Q4 GDP
USDCAD downtrend broken after Canada reports weaker than expected Q4 GDP

• USDCAD now trading above 1.3260-70s, but gains fading as crude oil prices recover from Friday’s ISM-driven slump.
• Bank of Canada meets on Wednesday. ECB meets on Thursday.
• EURUSD continues to follow gold prices lower since 10am on Friday. Buyers step in at support in 1.1320-30s.
• GBPUSD trading quietly as traders await more Brexit headlines.
• AUDUSD moderately bid ahead of RBA rate decision at 10:30pmET tonight.
• USDJPY holding gains as the S&Ps react positively to some positive US/China trade headlines from the WSJ.

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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03-01-2019 08:15

USDCAD remains offered ahead of Canadian Q4 GDP figures
USDCAD remains offered ahead of Canadian Q4 GDP figures

• Traders expecting +1.2% QoQ Canadian GDP growth in Q4, and 0% growth for December. US Feb ISM out at 10amET.
• April crude oil prices continue to trend higher.
• Volatile 24hrs for EURUSD leaves traders whipsawed ahead of the weekend.
• Sterling leaking lower but finding buyers so far in 1.3210-40 chart support zone.
• AUDUSD following EURUSD and copper prices higher this morning.
• USDJPY rockets higher to 112.00 level as US yields continue to 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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