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05-16-2019 08:15

US Housing Starts, US Philly Fed, Canadian Manufacturing Shipments all beat expectations
US Housing Starts, US Philly Fed, Canadian Manufacturing Shipments all beat expectations

• USDCAD trying to recover after planned Trump auto tariff delay sees broad USD selling yesterday.
• EURUSD back on the defensive after two failed attempts to get above 1.1220s. Strong US data this morning not helping.
• GBPUSD continues to be plagued by Brexit uncertainty. EURGBP continues march higher after yesterday’s breakout.
• Australia reports mixed employment report for April. AUDUSD recovers, but now weighed down by EURUSD selling.
• USDJPY traders eyeing Sunday gap fill, after S&Ps get back above 2840s.
• Bank of Canada’s Stephen Poloz to speak at 11:15amET.

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

Posted By Jacquelyn McMullen at 08:15 AM

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05-15-2019 08:15

Risk off flows back in action. US Retail Sales and Canadian CPI figures for April up next.
Risk off flows back in action.  US Retail Sales and Canadian CPI figures for April up next.

• Traders expecting +0.2% MoM and +0.7% MoM ex. Autos for US Retail Sales.
• Consensus looking for +0.4% MoM and +2.0% YoY for Canadian CPI.
• Australian May Consumer Confidence and Q1 Wage Price Index misses expectations.
• Chinese April Retail Sales and Industrial Production figures disappoint.
• Italian bonds see follow-through selling following Salvini’s budget comments yesterday.
• German bund yields at new lows, BTP/Bunds at new 3-month wides, risk-off flows benefiting USD broadly.

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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05-14-2019 08:15

Trump believes discussions with China will be very successful. Expects outcome in 3-4 weeks
Trump believes discussions with China will be very successful. Expects outcome in 3-4 weeks

• S&Ps +20, USDJPY bounces, USDCNH off yesterday’s highs.
• Italy’s Salvini giving EUR traders an excuse to sell. EURUSD decouples from gold prices for now.
• Sterling toying with both sides of 1.2930s pivot, but sellers now taking over.
• AUDUSD staring into the abyss below 0.6940. Australian Consumer Confidence / Wage Price Index out tonight.
• USDCAD traders shaking off risk recovery and oil bid, continues to hold chart support in 1.3450-60s.

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

Posted By Jacquelyn McMullen at 08:15 AM

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05-13-2019 08:15

US/China trade war heats up. China retaliates with $60bln in new tariffs effective June 1
US/China trade war heats up. China retaliates with $60bln in new tariffs effective June 1

• S&Ps -60. USDCNH explodes higher once again, now above 6.90. Gold prices spiking $10 higher, lifting EURUSD.
• GBPUSD following the Euro higher, albeit mildly. Trade-sensitive AUDUSD lags as copper losses 1.7%.
• USDJPY collapses amid risk-off flows, with entrenched fund long positions adding to the weight.
• June crude oil prices surging 2.4% higher as Saudi tankers attacked.
• USDCAD traders stuck in the 1.3430-60s as risk-off flows compete with oil supply fears.
• Bank of Canada’s Lane speaking at 5:30pmET today.

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

Posted By Jacquelyn McMullen at 08:15 AM

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05-10-2019 08:15

Canadian April employment report in focus. Tariffs raised on China overnight, but US/China talks set to continue.
Canadian April employment report in focus.  Tariffs raised on China overnight, but US/China talks set to continue.

• Traders expecting 10k jobs gained, +2.3% YoY growth in wages, and 5.8% on the unemployment rate.
• US CPI report for April expected +2.1% YoY and +0.4% MoM.
• EURUSD following gold prices over the last 24hrs.
• AUDUSD higher initially post RBA Monetary Policy Statement, but then recedes.
• Dollar/yuan back in rally mode.

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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05-09-2019 08:15

Markets on edge as Chinese trade delegation set to arrive in Washington today
Markets on edge as Chinese trade delegation set to arrive in Washington today

• S&Ps -20. USDJPY offered once again. USDCNH breaks out above the 6.82s.
• USDCAD and EURCAD struggle to break 1.3500 and 1.5100 respectively.
• EURUSD holding steady amid slew of option expiries at current levels.
• China releases its April CPI in-line with expectations.
• US PPI for April, US & Canadian Trade Balance, remarks from Powell up next.
• RBA reports its quarterly Monetary Policy Statement tonight at 9:30pmET.

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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05-08-2019 08:15

China backtracked on nearly all aspects of US trade deal, according to Reuters
China backtracked on nearly all aspects of US trade deal, according to Reuters

• Reuters article leads to more S&P selling, but USD demand not so widespread today.
• EURUSD holding up as German Industrial Production for March beats expectations.
• GBPUSD notably underperforming as Tory/Labour talks appear to have broken down.
• AUDUSD trades at both ends of yesterday’s range, with RBNZ 25bp rate cut having limited impact.
• Canadian Housing Starts for April beat expectations, but USDCAD holds support in the 1.3450s.
• USDJPY feeling the weight of the selling in the S&Ps. Support at the 110.30s gave way yesterday.
• EIA oil inventory report at 10:30amET today. China reports its April CPI tonight at 9:30pmET.

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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05-07-2019 06:46

European Commission chops Germany's 2019 growth forecast in half
European Commission chops Germany's 2019 growth forecast in half

• EURUSD sales leading broad USD strength into NY trade.
• S&P futures volatile, as Lighthizer/Mnuchin confirm Trump’s China tariff threat for Friday.
• China to send Vice Premier Liu He to Washington after-all, but only on Thursday.
• German Factory Orders for March miss expectations.
• RBA holds rates steady, disappointing some AUDUSD shorts looking for a cut.
• USDCAD technicals improve with move back above 1.3450s.

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

Posted By Isabella Guevara at 06:46 AM

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05-06-2019 08:15

Trump shocks markets with tweet about raising tariffs on China this Friday
Trump shocks markets with tweet about raising tariffs on China this Friday

• Shanghai Composite crashes 5.6%. Chinese Yuan collapses. USD, JPY and bonds go bid.
• USDCNH blasts higher through 6.7450s. AUDUSD gaps lower. USDCAD gaps higher.
• Hefty option expiries and upbeat Services PMI data keeps EURUSD as the directionless out-performer.
• GBPUSD gives back half of Friday’s explosive, post NFP, rally. UK observing Early May bank holiday today.
• Reserve Bank of Australia announcing latest decision on interest rates tonight. OIS swaps pricing 40% chance of 25bp cut.
• Japanese markets reopen tomorrow after Golden Week holidays.

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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05-03-2019 08:15

USD trading bid ahead of the US non-farm payrolls report
USD trading bid ahead of the US non-farm payrolls report

• Traders expecting +190k jobs gained for April.
• US Non-Manufacturing ISM out at 10amET. Slew of Fedspeak on deck after that.
• Fed’s Evans speaks at 10:15am. Clarida 11:30amET. Williams 1:45pmET. Bowman 3pmET.
• UK Markit Services PMI misses expectations.
• USDCAD holding gains above 1.3440s.

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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