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03-28-2019 08:15

Traders continue to buy USD broadly as fears mount about Brexit deadlock and Turkish money markets
Traders continue to buy USD broadly as fears mount about Brexit deadlock and Turkish money markets

• GBPUSD down 100pts lower from NY close. Turkish lira down 5%.
• US final read on Q4 GDP disappoints, +2.2% YoY vs +2.4% expected.
• EURUSD extends losses after 1.1240s support gives way.
• AUDUSD hanging in there with option expiry and copper prices supporting.
• USDCAD benefiting from broad USD buying, but market still struggling with 1.3430s.
• USDJPY roars higher into NY open as the S&P futures and US yields bounce.

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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03-27-2019 08:15

New Zealand central bank surprises markets with dovish turn in monetary policy outlook
New Zealand central bank surprises markets with dovish turn in monetary policy outlook

• NZDUSD plunges 1.6%. Drags AUDUSD lower and helps to keep USDCAD bid.
• EURUSD bounces after comments from Mario Draghi. German 10yr bund yield hits 2 ½ year low prior to that.
• GBPUSD inches higher ahead of Parliament indicative votes, but still contained to Monday/Tuesday’s range.
• USDJPY pulling back to yesterday breakout zone as global bond yields continue to reflect growing recession fears.
• US trade deficit for January comes in at 51.1bln vs 57bln expected.
• Canadian trade deficit for January is reported 4.25bln vs 3.55bln expected.
• Weekly EIA oil inventory report on deck for 10:30amET. Traders expecting a draw of 2.5M barrels

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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03-26-2019 08:15

USD trading mixed into NY trade
USD trading mixed into NY trade

• US Housing Starts for February miss expectations (1.162M vs 1.21M or -8.7% MoM vs -1.6%).
• USDCAD trying to hold 1.3390s despite May crude oil galloping 1.8% higher.
• AUDUSD drifting higher, with RBNZ rate decision on deck tonight.
• GBPUSD rallies as Rees-Mogg reportedly reconsiders May’s Brexit deal.
• EURUSD still on the defensive, but the 1.13s are holding for now.
• USDJPY longs fight back as US stocks and yields bounce.

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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03-25-2019 08:15

Better than expected German IFO survey calms some investors nerves
Better than expected German IFO survey calms some investors nerves

• German bund yields trade back above zero. EUR and S&P futures bounce.
• USDCAD holding gains above 1.3420s support as May crude oil struggles to regain $59.
• GBPUSD drifts higher as Theresa May’s cabinet revolts.
• AUDUSD following EURUSD higher, regains 0.7080s support.
• Leveraged funds at CME carry long USD positions into the June futures, except vis a vis GBP.
• USDJPY longs taking some heat, with large option expiries looming at 110.00.

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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03-22-2019 08:15

Terrible German manufacturing PMI spooks markets
Terrible German manufacturing PMI spooks markets

• Germany Markit PMI for March comes in at 44.7 vs 48.0 expected.
• Risk-off waves sweeps across markets. German bunds now yielding below zero.
• Sterling avoids the selling as EU allows two-week Brexit extension.
• USDCAD benefitting from broad risk off flows, which is also knocking oil prices lower.
• Canadian Retail Sales and CPI data on deck.

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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03-21-2019 08:15

Fed outlook gives markets another dovish surprise, but traders now fretting over the underlying reasons for it
Fed outlook gives markets another dovish surprise, but traders now fretting over the underlying reasons for it

• USDCAD roars back from post Fed lows, now threatening to break above 1.3330s.
• EURUSD slips after testing 1.1420-30s resistance.
• GBPUSD falls further today as traders angst about what the EU will allow in terms of a Brexit extension.
• AUDUSD extends post Fed gains on 4.9% unemployment rate headline in weak Australian jobs report, but now fades.
• USDJPY struggling to find buyers as “risk-off” tone to markets today sees US 10yr yields tick below 2.50% to new 14 month low.
• US Philly Fed survey for February beats expectations (+13.7 vs +4.5).

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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03-20-2019 08:15

All eyes on the Fed today, with traders expecting modestly dovish tone to outlook
All eyes on the Fed today, with traders expecting modestly dovish tone to outlook

• EURUSD drifts back up to trend-line resistance in the 1.1360s as USDCNH recedes.
• AUDUSD recovers after cautious comments from the RBA’s Bullock.
• GBPUSD falling hard now as Theresa May confirms request made to EU for short Brexit extension.
• USDJPY stuck between support at 111.30 and resistance 111.60. S&Ps fail to break out yesterday.
• USDCAD recovers handsomely from yesterday swift dip below 1.3305. Oil price retreat the major driver.
• Weekly EIA oil inventories at 10:30amET. Fed press release at 2pmET. Press conference at 2:30pmET.

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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03-19-2019 08:15

USDCAD uptrend at risk of unraveling
USDCAD uptrend at risk of unraveling

• USDCAD now plunging as 1.3305 trend-line support gives way.
• May crude oil continues rally after breaking out above 58.80s yesterday.
• EURUSD drifts higher again but struggles at familiar resistance in the 1.1360s.
• Sterling shorts cover at 1.3190-1.3200 yesterday. Third Brexit vote denied by UK House speaker.
• AUDUSD trading steady after RBA Minutes. Copper bid 1%.
• USDJPY finally finding buyers after the S&P break above the 2840s. Large option expiries in play today.

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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03-18-2019 08:15

Optimism for a dovish Fed lifts broad risk sentiment to start week
Optimism for a dovish Fed lifts broad risk sentiment to start week.

• S&Ps, oil, copper all higher while USD trades mixed to lower.
• FOMC meets on Wednesday. Economic calendar quiet before then.
• USDCAD holds trend-line support at the 1.3300 level.
• EURUSD and AUDUSD drift higher as some trend-line resistance gives way.
• GBPUSD lags as traders nervously await what Theresa May can do this week.
• USDJPY struggling to regain 111.60s lost on Friday.

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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03-15-2019 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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