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Asian session – Dollar steadies lower as safe havens gain on risk aversion

Posted on January 31, 2017 at 8:44 am GMT

The US dollar traded mostly sideways during today’s Asian session after reversing the sharp gains of the previous day on worries that the new US administration’s policies on immigration and trade could create uncertainty. Mainly benefitting from the US currency’s weakness was the Japanese yen, as dollar / yen dropped below 114 to 113.60.  Dollar / yen was still about a yen away from the previous week’s 112.52 two-month low.  Euro / dollar was trying to climb back above 1.07 [..]

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Week Ahead – BoJ, Fed and BoE meet amid rising inflation; NFP and Eurozone flash GDP also eyed

Posted on January 27, 2017 at 5:04 pm GMT

Central bank meetings will dominate a packed week as investors await for clues on policy direction, while a flurry of key data releases will also keep markets on edge. The US non-farm payrolls report and the flash estimate of Eurozone GDP will likely be the main highlights in terms of data. But political developments with President Trump and Brexit could also impact trading in a week where many Asian markets will be closed for the Lunar New Year celebrations. Bank [..]

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Asian session – US dollar makes comeback on growth optimism

Posted on January 27, 2017 at 8:42 am GMT

The US dollar clawed back some of its recent losses during Friday’s Asian trading on optimism about US economic prospects and as some market participants speculated that the dollar’s recent losses had gone too far. The dollar index extended its run above the 100 mark to around 100.80, as the greenback posted solid gains across the board against other majors.  Euro / dollar was pushed below the 1.07 level down to 1.0662, while dollar / yen rallied above 115 to [..]

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Forex News – Aussie slides on weak inflation as data keeps RBA rate cut prospect alive

Posted on January 25, 2017 at 2:35 pm GMT

Inflation data out of Australia on Wednesday failed to match analysts’ expectations, suggesting price pressures remain subdued despite rates being cut to a record low of 1.5%. The 12-month CPI rate rose from 1.3% in the third quarter to 1.5% in the final three months of 2016. The figure is the highest in a year but below forecasts of 1.6% and still below the Reserve Bank of Australia’s target band of 2-3%. On a quarter-on-quarter basis, CPI was up 0.5%, [..]

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Asian session – Aussie drops following inflation; US dollar in uneasy calm

Posted on January 25, 2017 at 8:35 am GMT

The US dollar declined a little but then rebounded back to almost unchanged during today’s Asian session, as traders were still trying to weigh the impact of the new administration’s trade and economic policies. The dollar index traded in a relatively narrow range of 100.15 to 100.41, while there were few new developments out of the United States.  Existing home sales for December dropped 2.8% instead of a drop of only 1.1% expected by economists, but the miss was mostly [..]

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Asian session – US dollar extends losses after Trump inauguration

Posted on January 23, 2017 at 8:28 am GMT

The US dollar extended its decline from Friday, as the market continued to lighten up on long dollar positions after Donald Trump’s inauguration speech.  According to analysts, Trump’s speech was nationalistic and protectionist in tone as it stressed the need to produce goods in the United States and to hire US workers.  The Trump administration looks more likely to follow a unilateral approach on economic and trade policy.  There was less in the speech about upcoming fiscal stimulus; a theme [..]

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Week Ahead – First look at US, UK Q4 GDP; UK Supreme Court to rule on Brexit trigger

Posted on January 20, 2017 at 2:46 pm GMT

GDP and CPI data will dominate the coming week as the UK and the US publish their first estimates of how growth fared in Q4, while the latest inflation numbers out of Australia, New Zealand and Japan will come under the spotlight too. Headlines from Donald Trump’s inauguration speech could have an impact on trading on Monday, and there could also be some volatility from the UK Supreme Court’s ruling on triggering Article 50 on Tuesday. Eurozone economy likely strong [..]

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