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02-13-2019 08:15

Slightly hotter than expected US CPI figures adds to "risk-on" tone for the broader markets
Slightly hotter than expected US CPI figures adds to

• US January CPI +1.6% YoY vs +1.5% exp. Core CPI +2.2% YoY vs +2.1% exp.
• Mnuchin says talks with Chinese negotiators are going “so far so good”.
• USDJPY extends gains with break above 110.50s. S&Ps +10.
• AUDUSD unravelling NZDUSD driven pop; market back below 0.7110s.
• EURUSD in the process of giving back yesterday’s gains following upbeat US CPI.
• GBPUSD unwinding flow-driven pop higher around 7amET.
• USDCAD rebounds from overnight lows, but chart resistance and EURCAD cross sales weigh.

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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02-12-2019 08:15

Snap-back in oil prices prevents USDCAD from breaking higher
Snap-back in oil prices prevents USDCAD from breaking higher

• Saudi Arabia expects to reduce oil production further, starting in March. Crude oil +2.2%.
• Somewhat bearish OPEC Monthly Oil Report being brushed off.
• EURUSD shakes off negative comments from the ECB’s Weidmann; defends 1.1270s chart support.
• GBPUSD bounces after the BOE’s Carney reaffirms desire to modestly tighten monetary policy over time.
• AUDUSD finds bid after USDCNH fails at chart resistance.
• USDJPY pulling off highs on broad USD weakness + BOJ tweak to JGB purchases, but S&Ps well bid.

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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02-11-2019 08:15

USD starts the week with quiet bid
USD starts the week with quiet bid

• USDCAD stuck within Friday’s range post Canadian employment report, but downtrend still being threatened.
• EURUSD now down for the 6th consecutive session after the 1.1340s give way again.
• AUDUSD slips below support as USDCNH goes bid after the Chinese markets reopen.
• GBPUSD underperforming after weak Friday NY close + weaker than expected UK economic data today.
• USDJPY breaks higher out of last week’s range.

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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02-08-2019 08:15

Two-day USDCAD rally pauses ahead of Canadian jobs report
Two-day USDCAD rally pauses ahead of Canadian jobs report

• Traders expecting just 8k jobs gained in Canada for January.
• Italian Industrial Output figures miss expectations. BTP/Bund spread widens further and pressures EUR.
• Sterling buyers defending 1.2930-40s support after Carney’s post Brexit optimism yesterday’s saves GBP.
• AUDUSD slumps further after dovish RBA Statement of Monetary Policy, but recovering now with broad USD sales.
• USDJPY extremely quiet in overnight trade.

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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02-07-2019 08:15

Bank of England holds rates steady. Optimism for a smooth Brexit lifts GBPUSD from kneejerk lows.
Bank of England holds rates steady. Optimism for a smooth Brexit lifts GBPUSD from kneejerk lows.

• GBPUSD tests support in 1.2850 post BoE press release. Now working on bullish reversal.
• EURUSD succumbs to further weakness following weak German Industrial Production + slash in European growth forecasts from EC.
• AUDUSD on the defensive following slip below 0.7120s.
• USDJPY trapped in 109.60 to 110.10 range.
• USDCAD building on yesterday’s regain of the 1.3180s regain. Trades now fading resistance ahead of Canadian jobs report tomorrow.

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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02-06-2019 08:15

Shock dovish turn in Australian monetary policy outlook punishes AUD
Shock dovish turn in Australian monetary policy outlook punishes AUD

• RBA’s Lowe abandons long held “next move is up” rate bias and shifts to neutral outlook.
• USDCAD rallies in sympathy, but crude oil bounce off overnight lows now putting 1.3180-90s to the test.
• EURUSD holds trend-line support despite poor German Factory Orders data for September.
• Theresa May talking Brexit in North Ireland again today. Market still reeling from May’s speech yesterday.
• USDJPY goes offered during Trump’s divisive State of Union address, but buyers step in at 109.60s support.
• Canadian Building Permits (8:30amET) , BoC Lane speech (8:35amET) , weekly EIA oil inventories (10:30amET) on deck 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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02-05-2019 08:15

Reserve Bank of Australia delivers less dovish than expected hold on interest rates
Reserve Bank of Australia delivers less dovish than expected hold on interest rates

• AUDUSD rallies, but chart resistance in the 0.7260-70s confines market to recent range.
• March crude oil fails to regain $55 in overnight trade. Falling 1% now and helping USDCAD find buyers.
• EURUSD wrestling with 1.1420s pivot after decent European Services PMIs + ECB headlines about TLTROs (Italy friendly).
• GBPUSD lagging after UK Services PMI misses estimates. Theresa May meeting Juncker on Thursday.
• President Trump delivers State of the Union address tonight at 9pmET.

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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02-04-2019 08:15

Broad USD demand from post ISM beat spills over into quiet start to the week.
Broad USD demand from post ISM beat spills over into quiet start to the week.

• USDJPY bursting higher, supported by trend-line break and bullish EURJPY technicals.
• AUDUSD slips further with weaker than expected Building Permit data not helping. RBA meets tonight at 10:30pmET.
• GBPUSD falls back to Friday’s lows following weaker than expected UK Construction PMI.
• USDCAD find bid as oil prices fall back below $55.
• Chinese markets closed for week-long Lunar New Year 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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02-01-2019 08:15

US payrolls on deck. Traders expecting 165k jobs gained in January.
US payrolls on deck.  Traders expecting 165k jobs gained in January.

• Sterling taking a leg lower after weaker than expected Manufacturing PMI.
• EURUSD shrugs off weak pan-European manufacturing PMIs. Talk of large EURGBP buyer making the rounds.
• AUDUSD nursing back losses from weaker than expected Chinese Caixin Manufacturing PMI.
• USDCAD hugging chart support.
• USDJPY trading very quietly, but back above 108.80s support.

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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01-31-2019 08:15

Patient Fed roils the USD. US/China trade talks going well, but deal not expected this week. US payrolls report on deck for tomorrow.
Patient Fed roils the USD. US/China trade talks going well, but deal not expected this week.  US payrolls report on deck for tomorrow.

• USDCAD collapses to mid-November lows. Mediocre Canadian data points from this morning supporting for now.
• Post Fed EURUSD gains capped by chart resistance and poor European data. Italy went into recession in Q4 2018.
• GBPUSD struggling with chart resistance as well + continued fallout from Tuesday’s amendment votes.
• AUDUSD extends post-Fed rally as copper prices march higher again.
• USDJPY succumbs to broad USD selling yesterday, threatens move to lower range now.
• January Chicago PMI out at 9:45amET (61.5 expected).

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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