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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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05-02-2019 08:15

Powell sees low inflation as transitory. USD goes bid post Fed meeting
Powell sees low inflation as transitory. USD goes bid post Fed meeting

• April Manufacturing PMIs out of most of Europe surprise to the upside, but Germany’s number disappoints.
• Bank of England keeps monetary policy unchanged. Raises GDP forecasts but trims inflation projections.
• Sizable, post-Fed, option expiries in play today for USDCAD, EURUSD, GBPUSD and USDJPY.
• US Factory Orders on deck at 10amET. Traders expecting +1.5% MoM for March.
• US Non-Farm Payrolls employment report for April out tomorrow at 8:30amET.
• Computer-driven fund selling and thin market conditions being blamed for yesterday’s copper plunge.

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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05-01-2019 08:15

Positive Poloz kills upside USDCAD momentum. US ADP employment report beats expectations.
Positive Poloz kills upside USDCAD momentum.  US ADP employment report beats expectations.

• US ISM (April) up next at 10amET. Weekly EIA oil inventory report at 10:30amET.
• FOMC announcement at 2pmET, followed by press conference at 2:30pmET. BOC’s Poloz speaking again at 4:15pmET.
• Treasury secretary Mnuchin concludes “productive” meetings with China’s Vice Premier today.
• UK Manufacturing PMI (April) narrowly beats expectations. Bank of England meets tomorrow morning at 7amET.
• Copper prices getting hammered (-2%), prompting some AUDUSD sales into NY trade.
• USD fund longs hoping for more positive commentary from Jerome Powell 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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