Euro Currency Fall to Six-Week Lows
Sterling rose 0.13 cents against the euro to €1.1851 and climbed 0.83 cents against the dollar to $1.5308. The pound fell versus the dollar, extending a weekly decline, as speculation the Federal Reserve may be moving closer to ending stimulus boosted… View Post
GBP/EUR To Hit 3-Month High?
Sustainability of Dollar Rally Hinges on Payrolls EUR Erases Gains as ECB Cuts Rates and Suggests Doing More GBP – Could Hit 3 Month High Against EUR AUD – Major Contraction in Manufacturing Sector CAD – Trade Surplus Returns NZD – Oil Prices Jump 3% JPY… View Post
British Pound (GBP) Strengthens on Stronger...
USD – Dollar Ticks Up as Fed Ignores Payroll Disappointment AUD – Major Contraction in Manufacturing Sector CAD – Gold and Oil Prices Plunge NZD – Chinese Manufacturing Activity Slows JPY – Extends Gains on Stronger Data The British pound traded higher… View Post
Signs of improvement in US Labour Market to See US...
EUR – Ignoring Risk of ECB Rate Cut GBP – Watch Out for UK PMI Manufacturing Report AUD – China and Australia Releases Manufacturing Numbers CAD – Better Than Expected GDP Numbers NZD – Shrugs Off Weaker Business Confidence JPY – Gradual Signs of Recovery… View Post
Cable (GBP/USD) 1.52-1.54 range seems likely ahead...
This week’s Q1 GDP data ought to be the main focus for GBP, and the comments from the MPC’s Weale last week underline that there is an increasing risk of an extension of QE if this were to produce a negative print. Concerns about this and the failure to… View Post
Italy's Political Fiasco Brings Europe Back in the...
USD – Fed Still Divided on Economic Outlook GBP – Shrugs Off Weak Retail Sales and Dovish BoE Comments CAD – Could Hit 1.04 on Softer CPI AUD – Business Confidence Turns Positive for First Time in 5 Quarters NZD – Consumer Confidence Improves JPY – Economy… View Post
EUR Collapses on Rate Cut Speculation
GBP – Beware of Weak Retail Sales CAD – Hit by Bank of Canada’s GDP Revisions NZD – CPI Ticks Higher in Q1 AUD – Shrugs Off Rise in Leading Indicators JPY – Expect Further Improvement in Trade UK retail sales is the primary focus for sterling today, and… View Post
RBA Expresses Concerns About High Aussie Dollar...
USD: Look to Beige Book Report to See if Weakness Persisted GBP: BoE Minutes Should Reflect Continued Inflation Concerns CAD: Will BoC Drop its Bias to Raise Rates? NZD: Potential Upside in CPI The BoE MPC Minutes will be the main focus today. Domestic… View Post
Canadian dollar (CAD) hit 3 week lows
EUR – Weaker ZEW Could Accelerate Losses GBP – Potential Upside Surprise in CPI Will the RBA Minutes Save the AUD? NZD – Day’s Biggest Percentage Loser There were some big moves in the foreign exchange market today but nothing compares to the sell-off in… View Post
Busy Week for UK Ahead Filled with Key Data
EUR Gains Capped Below 1.3150 All Week NZD – Slips Sharply as Longs Unwind CAD – Bank of Canada Meets Next Week AUD – Ton of Chinese Data Ahead JPY – BoJ Buying Disappoints Despite the stronger February IP numbers released last week, the weaker than… View Post
Sterling (GBP) Held Back by Dovish Comments from...
Is EUR Poised for a Move to 1.30? AUD: Breaks 1.05, Further Gains Hinge on Employment NZD: Climbs to Fresh 1 year Highs CAD: Gold Down 1.5%, Oil Up Slightly USD/JPY – Inching Towards 100 The British pound traded slightly higher against the euro today but… View Post
New Zealand Dolar (NZD) Hits 6 Week Highs
EUR – Stronger German Data but Weakness Beneath the Headline AUD: Sustained Break of 1.05 Hinges on Chinese Data CAD: Rallies Despite Mixed Housing Numbers GBP – Mixed Data Leads to Reluctant Rally Based on the price action in the currency and equity… View Post
Canadian Dollar (CAD) Extends Losses Following...
EUR – Limits to the Breakout GBP – Time to Reload GBP Shorts NZD: Worst Drought in 30 Yrs to Shave 0.7% off GDP AUD: Shrugs Off Deeper Contraction in Construction Next to the Japanese Yen, the British pound performed the worst against the U.S. Dollar.… View Post
Potential for EUR/USD Rally to Extend to 1.313
CAD – Big Decline in Jobs Erase February Gains AUD – Surprise Weakness, Support Near NZD – Oil Continues to Fall, Gold Up 1.5% GBP – Upside Breakout Could Gain Momentum The British pound also broke out on Friday with sterling rising to a one month high… View Post
British Pound (GBP) Lifted by Stronger PMI...
USD: Counting Down to Non-Farm Payrolls USD/JPY – Aiming for 100 CAD – Employment, Trade and IVEY AUD – Shrugs off Stronger PMI, Retail Sales NZD – Oil down another 1% Services PMI was better than expected rising to the highest level since August last… View Post
Focus on Comments from Draghi Today
EUR: What to Expect from the ECB Dollar Slips on Potential for NFP Miss GBP – Don’t Expect Much from BoE AUD – Another Night of Busy Data NZD – China Reports Stronger Service Sector Activity CAD – Oil Down 2.75% The MPC meeting today will probably prove… View Post
EUR/USD Near Yearly Lows
EUR – Ends Day Near its Lows What Crushed the GBP Yesterday NZD – Soaring on Hotter Export Prices AUD – RBA Has No Major Concerns about Currency CAD – Gold Down 1.5% JPY – Kuroda Sheds Light on BoJ Plans The British pound took a big hit yesterday from… View Post
US Dollar (USD) Weakens on Disappointing ISM...
GBP – Looking for Lower PMI EUR – All Eyes on ECB Meeting This Week NZD – Chinese Manufacturing Activity Increases but Less than Forecast CAD – Oil Down, Gold Up USD/JPY Down Nearly 1% on Lower ISM and Nikkei While the MPC meeting on Thursday will be… View Post
GBP Soars on News Consumers Returned to the Shops
EUR: Cyprus a Risk but Focus Shifts to PMIs AUD: Breaks Out of Consolidation on Hot Chinese Data CAD: Retail Sales Expected to Rebound AUD: Watch for Chinese Data JPY Soars on Careful Comments from Kuroda The better retail sales data yesterday provided a… View Post
Higher Confidence in Outlook for US Economy Sees...
Dollar Lifted by Bernanke’s Relaxed Vibe EUR: Cyprus a Risk but Focus Shifts to PMIs GBP: Retail Sales Report Could Drive Further Gains NZD: Stronger GDP Growth Expected CAD: Retail Sales Expected to Rebound AUD: Watch for Chinese Data JPY: Watch for… View Post
Talk of UK Triple Dip Recession Gains Momentum
USD: What to Expect from FOMC EUR: Drops to 3 Month Lows after Cyprus Parliament Rejects Levy GBP: Beware of BoE Minutes and Budget CAD: Manufacturing Sales Drop fourth time in 5 Months AUD: RBA Leaves Door Open to More Easing NZD: Current Account Numbers… View Post
Cyprus Bailout Has Set The Tone For Trading
The strength of the British pound against the euro today suggests that investors may be once again looking to the sterling for safety. Despite grim economic data and the prospect of easier monetary policy, the safety of the U.K. banking system is not in… View Post
Are People Looking At British Pound (GBP) as Safe...
Quiet start to the week will allow market to focus on events later on this week. Domestically, the key event of the week will be the Chancellor’s 2013 Budget on Wednesday. Lloyds TSB expect a Budget that is fiscally neutral and allows the current focus on… View Post
Any talk of a Cyprus Bailout would Weaken Euro...
GBP/USD traded higher yesterday. A lack of negative UK news, and with little on the calendar today, we could see GBP remain biased to the upside into the weekend. But with the market keeping an eye on the UK budget and BoE MPC minutes to the March meeting… View Post
End of Week Focus on a Cyprus Bailout Discussion?
In the UK, with less than a week to go to the 20th March budget, market is getting nervous around the potential announcement on monetary policy remit change. Market anticipation of a more ‘flexible’ inflation targeting regime has seen front-end breakevens… View Post
US retail sales should provide another indication...
While some of the weakness in yesterday’s UK industrial production data for January was due to disruptions to North Sea oil output, manufacturing output also proved to be much weaker than expected. The UK is not alone, as figures for Germany last week and… View Post
Market is Short Selling Sterling (GBP)
Sterling was under pressure yesterday morning but rallied in the afternoon and we would expect today’s data will need to be weak to produce further significant sterling losses. We are approaching some big retracement levels in both GBP/USD (1.4823) and… View Post
Canada Saw Much Beter Than Expected Jobs Growth,...
Sterling remained soft last week even though the MPC left rates unchanged at the Thursday meeting, perhaps in part because of government indications that monetary policy would retain the responsibility for stimulating growth as fiscal policy would remain… View Post
Will the USD Strengthen Further After US...
The Bank of England left asset purchases unchanged at £375bn to the surprise of some, which triggered a small GBP up move. The impact on GBP has been relatively modest so far, but the BoE decision is likely to be seen as a postponement of further QE than… View Post
Focus Today On Potential Additional Stimulus From...
Cable was also weaker on the night slipping below the 1.5100 mark as traders reacted to Parliamentary testimony of outgoing BOE Governor Mervyn King who admitted that too big to fail was still the primary problem facing UK banking while also noting that… View Post
Positive US Economic Data Sees USD Become the...
Better than expected UK PMI Services, stronger consumer spending out of Australia and a relatively sanguine all helped to drive risk currencies higher and both cable and Aussie rebounded from the the lows set at the start of the week and European equity… View Post
Bank of England Deputy Governor’s Thoughts Bring...
Paul Tucker, the BoE’s deputy governor, brought the plight of savers back into the spotlight last week when he floated the idea of introducing negative interest rates as a way of encouraging banks to lend and so kick-start Britain’s recovery. Whilst his… View Post
Weak UK Manufacturing PMI to Prompt More QE from...
Weak UK Manufacturing PMI to Prompt More QE from Bank of England? EUR Breaks 1.30 as Systemic Risk Return USD: Dollar Rallies as Sequester Kicks In CAD: Growth Slows Ahead of Bank of Canada Meeting AUD: RBA to Leave Rates Unchanged Next Week but watch Comments NZD: To Take its Cue from AUD Next Week USD/JPY Quietly Edges… View Post
Manufacturing PMI to Decide Sterling's Direction...
Manufacturing PMI to Decide Sterling’s Direction Today USD: Sequestration Kicks in Fri, No Deal in Congress EUR: Still Crippled by Italian Election Concerns CAD: Hits Fresh 7 Month Lows Ahead of GDP Data AUD: Manufacturing Activity Rebounds NZD: Sharp Improvement in Business Confidence JPY: Abe Nominates… View Post
US Economic Growth GDP figure release in Focus...
EUR: Big Gap in ECB and Fed Exit Strategy Views USD: Big Ben Dovish but Not Dovish Enough GBP: Holds Steady in Europe and North America NZD: Trade Surplus Turns into Deficit CAD: Stalls After 7 Straight Days of Losses AUD: Struggling to Hold Above 1.02 JPY… View Post
Hard to See Further EUR/GBP Gains
EUR: Does Spike in Italian Yields Matter? USD: Big Ben Dovish but Not Dovish Enough GBP: Holds Steady in Europe and North America NZD: Trade Surplus Turns into Deficit CAD: Stalls After 7 Straight Days of Losses AUD: Struggling to Hold Above 1.02 JPY:… View Post
Euro Crushed by Italian Election Mess
GBP: Holds Steady in Europe and North America CAD: Hit by Cautionary Comments from Carney AUD: RBA Debelle Still Open to Rate Cuts NZD: Chinese Manufacturing Activity Slows Sterling suffered modestly on the Moody’s downgrade yesterday, but most of the… View Post
GBP/USD Possible to test 1.50?
EUR: Italian Election Scenarios JPY: BoJ Governor Nomination Next Week CAD: Hit by Sharp Decline in Retail Sales AUD: Supported by Steven’s Optimism NZD: Oil Up, Gold Steady Moody’s dropped a bomb on the British pound half an hour before U.S. markets… View Post
Canadian Dollar (CAD) Hit By Drop in Oil, All Eyes...
EUR Sinks to Fresh Lows, Hit From Both Sides USD: Driven Higher by Comments from FOMC Voter GBP: Rebounds on Stronger Data CAD: Hit By Drop in Oil, All Eyes on Retail AUD: Slips to 4 Month Lows NZD: Driven Lower By Dollar Strength JPY: How the Weak Yen is… View Post
US FOMC Minutes Rock the Markets
EUR: Will the PMI Numbers Save the Euro? GBP: 2.5 Year Low Against the USD NZD: RBNZ Comments Kill the NZD AUD: Watch Out for RBA Semi-Annual Testimony AUD: Gold Prices Sink JPY: How the Weak Yen is Hurting Japan’s Trade Balance The British pound dropped… View Post
UK Labour Market & BoE MPC Minutes In Focus
GBP continues to look vulnerable to the downside and rumours of a possible UK Downgrade yesterday weighed on GBP. For today, UK labour market statistics and the BoE MPC minutes will be of interest. Last week’s Quarterly inflation report revealed a higher… View Post
Cheaper Borrowing & Labour Market Recovery in US...
There is nothing on the UK Calendar today, and GBP/USD downside bias looks set to continue, yesterday’s low of 1.5438 should provide initial support but there are risks for a break towards the 1.54 level. EUR/GBP could edge marginally higher but looks… View Post
Spain, France, Italy & Portugal Are At Risk Of...
USD: Helped by Stronger Data GBP: Shrugs Off Fourth Month of Negative Retail Sales NZD: Major Defense Happening in NZD AUD: Gold Prices Sink CAD: Manufacturing Sales Plummet, Home Sales Rise UK Retail Sales shocked to the downside taking cable back below… View Post
More Concerns for Euro Currency
USD: U.S. Data to Take Back Seat to G20 GBP: Drops to 7 Month Lows, All Eyes on Retail Sales NZD: Strong Rise in Retail Sales AUD: Inflation Expectations Edge Higher CAD: Holds Above Parity The British pound continued to slide against the U.S. dollar,… View Post
Sterling (GBP) Crushed by Grim Outlook from BoE...
Will G20 Come Down Hard on Japan? EUR: Eurozone Technical Recession to Deepen USD: Retail Sales and Bullard Comments Reinforce Easy Monetary Policy AUD: Biggest Jump in Confidence Since September 2011 NZD: English Says Intervention is Futile CAD: Oil Edges… View Post
Canadian Dollar (CAD) Lifted by Carney's Comments
US Data a Welcomed Break from Currency War Talk EUR: Draghi Criticizes Talk of Currency War GBP: Potential Surprise in BoE Inflation Report USD/JPY Not Out of the Woods AUD: Business Confidence Stabilizes NZD: Continues to Recover Despite Weaker Data Whil… View Post
Aussie Dollar Tests 3 Month Lows
USD: Light Data, Dovish Comments from Yellen GBP: Resumes its Slide, Down 1% Against EUR CAD: Third Straight Day of Losses NZD: Credit Card Spending Rises 0.3% AUD: Testing 3 Month Lows JPY: Kuroda Comments Example of Why Yen Will Remain Weak The UK CPI… View Post
Why Policymakers did a 180 on Currencies?
Why Policymakers did a 180 on Currencies? FX: Why Policymakers did a 180 on Currencies USD: Stocks Soar, Currencies Do Not Follow GBP: Comeback Week for the GBP CAD: Hit By Weaker Employment AUD: RBA Cuts GDP and Inflation Forecasts NZD: Saved by Stronger Chinese Trade Numbers JPY: Rally Sparked… View Post
Why Policymakers did a 180 on Currencies?
FX: Why Policymakers did a 180 on Currencies USD: Stocks Soar, Currencies Do Not Follow GBP: Comeback Week for the GBP CAD: Hit By Weaker Employment AUD: RBA Cuts GDP and Inflation Forecasts NZD: Saved by Stronger Chinese Trade Numbers JPY: Rally Sparked… View Post
Aussie Dollar (AUD) Poised for Further Losses?
Are FX Traders Getting Ahead of Themselves? Has ECB Draghi Permanently Killed the EUR Rally? GBP: Saved by Carney CAD: In Focus on Friday with Trade and Employment NZD: Extends Losses After Employment Report JPY: Potential Replacements for Shirakawa Carne… View Post