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07-22-2019 12:00

5 Facts You Probably Didn't Know About the Hungarian Forint
5 Facts You Probably Didn't Know About the Hungarian Forint

Do you think you know the Hungarian forint? See how much you know about Hungary's currency!

Tags: currency , cxi , currency exchange international , banknotes , ceifx , counterfeit money , hungary , hungarian , forint

Posted By Mandee Myers at 12:00 PM

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07-22-2019 08:15

Fed enters blackout period ahead of next week's meeting
Fed enters blackout period ahead of next week's meeting

• No Fed members can speak until FOMC meeting on July 31st.
• Fed rate cut trade still licking its wounds after Friday’s reversal of Thursday’s breakout.
• Oil markets taking Iran’s seizure of UK-flagged Stena Impero in stride.
• Canadian Wholesale Sales data for May disappoints. Follows weak May Retail Sales on Friday.
• EURUSD traders turning focus to Thursday’s ECB meeting + decision from Italy’s Salvini regarding possible snap election.
• Boris Johnson expected to win Tory leadership contest tomorrow. Some cabinet resignations have already begun.
• Buyers re-group in AUDUSD ahead of Lowe speech mid-week. Funds continue to cover AUD short positions.
• This week’s economic calendar features US Durable Goods for June and preliminary US Q2 GDP.

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

Posted By Mandee Myers at 08:15 AM

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07-19-2019 08:15

Fed's Williams goes uber dovish yesterday. NY Fed and Bullard try to dial it back.
Fed's Williams goes uber dovish yesterday.  NY Fed and Bullard try to dial it back.

• Embarrassing Williams fiasco sees “Fed rate cut trade” explode higher, then retrace.
• EURUSD and Italian markets fretting about possible snap election in Italy.
• Canadian Retail Sales for May miss expectations: -0.1% MoM vs +0.3%.
• Fed’d Bullard to speak at 11amET. Says again this morning that 50bp cut not warranted.
• How short are the funds now in GBPUSD?
• AUDUSD breaks higher above 0.7040 resistance, holding half of gains post Williams.

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

Posted By Mandee Myers at 08:15 AM

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07-18-2019 08:15

EU's Barnier "ready to work on alternative arrangements” regarding the Irish border
EU's Barnier

• GBP rallies across the board. Lawmakers now voting on plan to make it difficult for future PM to prorogue parliament.
• EUR sells off following Bloomberg report about ECB studying revamp of inflation mandate.
• Crude catches a bid following reports of Iran seizing a “foreign” tanker smuggling Iranian oil.
• Bank of Korea surprises with 25bp rate cut. AUD rallies following “ok” Australian jobs report for June.
• US Philly Fed report for July beats expectations. Canadian ADP report for June also beats.
• More Fed-speak on deck today from Bostic and Williams.

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

Posted By Mandee Myers at 08:15 AM

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07-17-2019 08:15

Positive talk on Iran clubs oil prices yesterday, lifts CAD crosses
Positive talk on Iran clubs oil prices yesterday, lifts CAD crosses

• USDCAD back near 1.3070s pivot. EURCAD back above 1.4640s.
• Canada reports mildly weaker CPI report for June. May Manufacturing Sales miss expectations.
• US reports weaker than expected June Housing Start and Building Permit data.
• GBP looks the victim of sell stop hunting in Europe. UK reports in-line CPI data for June.
• Weak base metal prices sees AUDUSD slump back to 0.7000 ahead of Australian jobs report tonight.
• Weekly EIA oil inventory report up next at 10:30amET. APIs come in bearish last night. Fed Beige Book at 2pmET.

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

Posted By Mandee Myers at 08:15 AM

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07-16-2019 08:15

Boris Johnson & Jeremy Hunt declare Irish backstop dead
Boris Johnson & Jeremy Hunt declare Irish backstop dead

• GBPUSD plunges to Jan 3rd flash crash lows. EURGBP finally breaks above 0.9000.
• German ZEW for July MISSES: -24.5 vs -22.3 for Economic Sentiment and -1.1 vs +5.0 for Current Situation.
• EURUSD falling with GBPUSD and EURJPY cross sales.
• US Retail Sales for June BEATS: +0.4% MoM vs +0.2%. US bonds, gold and Eurodollars tick down. USD broadly upticks.
• USDJPY benefits the most, with clean break back above 108.10s.
• USDCAD doesn’t benefit at all and continues lower, with EURCAD cross sales weighing.
• AUDUSD backs off 0.7040 chart resistance following RBA Minutes overnight.
• Slew of Fed-speak on the way today, including Powell at 1pmET.

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

Posted By Mandee Myers at 08:15 AM

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07-15-2019 08:15

Upbeat Chinese industrial production data for June lifts CNH and commodity currencies
Upbeat Chinese industrial production data for June lifts CNH and commodity currencies

• China June Industrial Production +6.3% YoY vs +5.2% exp. Chinese yuan and copper prices rally.
• USDCAD pressuring 1.3020s while AUDUSD inches higher towards 0.7040s.
• EURUSD and GBPUSD struggling with overhead chart resistance. GBP lags as EURGBP makes run for 0.9000 again.
• Leveraged funds add to USDCAD, EURUSD and GBPUSD shorts during week ending July 9, trim AUDUSD short positions
• USDJPY back under pressure as 108.10 support gives way on Friday. Japanese markets closed for Marine Day today.
• Powell speech, German ZEW, Australian jobs, UK CPI/Retail Sales, Canadian CPI/Retail sales data on tap for this week.

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

Posted By Mandee Myers at 08:15 AM

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07-12-2019 08:15

Rally in bund yields, hotter US inflation data and not-so-dovish Fed-speak stifles Fed rate-cut trade
Rally in bund yields, hotter US inflation data and not-so-dovish Fed-speak stifles Fed rate-cut trade

• German bund yield extends to new 2 week highs of -0.23%.
• Fed’s Barkin, Bostic and Quarles speak more positively about US domestic outlook.
• Broader USD mixed, with commodity currencies extending post Powell gains, while EUR and GBP lag.
• State of emergency declared in Louisiana over Tropical Storm Barry. Crude oil holding gains greater than $60.
• Gulf of Mexico oil production cut by 53% (1mln bpd) according to US government.
• US PPI for June BEATS expectations: +1.7% YoY vs +1.6% on headline, +2.3% YoY vs +2.1% on core.

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

Posted By Mandee Myers at 08:15 AM

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07-11-2019 08:15

Everyone's blaming it on trade tensions. Could it be something more?
Everyone's blaming it on trade tensions. Could it be something more?

• Powell cites increased risks of trade tensions, slowing global growth, low inflation in testimony to Congress.
• Rate cut of 25bp at July 31 FOMC meeting now a foregone conclusion. Odds of 50bp cut increase back up to 30%.
• Bonds recover, August gold surges back above 1404 level, Dec Eurodollar futures back to pricing EFF below 2.00%.
• Bank of Canada keeps rates on hold, but gives global trade tension more airtime than expected.
• August crude oil surges 4% following bullish EIA inventory data. Tropical storm Barry adding to market bid.
• US CPI reports June CPI in-line with expectations of +1.6% YoY. Core measure BEATS, +2.1% YoY vs +2.0% exp.
• Jerome Powell back at it today; testifying this time before Senate Banking Committee at 10amET.
• Fed’s Williams, Bostic, Barkin, Quarles and Kashkari speaking today as well.

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

Posted By Mandee Myers at 08:15 AM

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07-10-2019 08:15

All eyes on Powell at 10amET. Text of testimony to be released at 8:30amET.
All eyes on Powell at 10amET.  Text of testimony to be released at 8:30amET.

• Bank of Canada interest rate decision and Monetary Policy Report at 10amET as well. Press conference at 10:15amET.
• USDCAD overnight options pricing predicting 70-80pt intra-day range.
• August crude 2% higher after weekly API reports shows larger than expected oil inventory draw.
• Weekly EIA oil inventory report at 10:30amET. Fed’s Bullard speaks at 1:30pmET. FOMC Minutes at 2pmET.
• Global bond yields continue to show anxiety ahead of Powell. US 10s back up to 2.10%. German bunds back to -0.30%.
• UK May Industrial Production and Manufacturing Production figures miss expectations. UK May GDP comes in +0.3% MoM.

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

Posted By Mandee Myers at 08:15 AM

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