FX Daily Outlook | 17-10-16
Posted on October 17, 2016 at 9:37 am GMT[..]
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Asian session – Dollar keeps most of last week’s gains as focus switches to ECB this week
Posted on October 17, 2016 at 7:59 am GMTThe US dollar kept most of its gains despite some attempts of profit-taking as the market seemed to brace for a rate hike in December. The dollar index reached its highest in 7 months at 98.15 right after the beginning of Asian trading but subsequently fell below 98 to 97.99. Fed Chair Janet Yellen said on Friday that it would be best to let the US economy run “hot” for a while so as to repair the damage that took place during [..]
European Session – Mixed US data caps dollar’s advance; Carney remarks support pound
Posted on October 14, 2016 at 3:35 pm GMTRisk appetite extended into Friday’s European session after strong Chinese inflation data had boosted sentiment in Asian trade. The US dollar looks set the end the week on a high note with the dollar index making gains of more than 1% over the week. However, the dollar’s gains were capped today following some mixed data out of the US. Retail sales rose by 0.6% month-on-month in September, in line with estimates and the prior month’s figure was revised up from -0.3% [..]
FX Daily Outlook | 14-10-16
Posted on October 14, 2016 at 10:02 am GMT[..]
European Session – Dollar extends gains but sterling retreats from highs
Posted on October 12, 2016 at 3:14 pm GMTThe US dollar resumed its uptrend in European trading on Wednesday as traders made a bullish bet ahead of the release of the FOMC minutes of the Fed’s September meeting later in the day. The odds of a Fed rate hike have been strengthening over the past week following some solid US data. The dollar index, which measures the US currency against those of its major trading partners, hit a fresh 7-month high of 97.97, sending gold to a three-day [..]
Asian Session – Sterling rebounds on reports that parliament to be consulted on Brexit
Posted on October 12, 2016 at 8:01 am GMTThe pound managed to rebound from the 1.20 level following reports that the British Prime Minister would consult parliament on Brexit. The Australian dollar also performed well after the country’s government successfully sold a long-term bond to investors. In other currencies, euro / dollar looked set to challenge the 1.10 mark due to recent optimism about the Fed raising rates in December while the ECB is set to continue with its present policy of asset purchases and negative rates. The [..]
European Session – Euro and pound pushed lower as dollar climbs to 11-week high
Posted on October 11, 2016 at 2:44 pm GMTRising expectations that the Fed is on course to raise rates at its December meeting drove the US dollar to an 11-week high against a basket of currencies on Tuesday. The dollar index hit 97.49 in today’s European session as Fed Funds Futures pointed to a 70% probability of a rate hike in December. A slump in the polls for US Presidential hopeful Donald Trump provided additional support to the greenback. The next big focus for the US currency is Friday’s [..]
Asian Session – US dollar makes up payroll losses; sterling drops once more
Posted on October 11, 2016 at 7:47 am GMTThe dollar made up all the losses in view of Friday’s softer-than-expected employment report, as optimism returned about the health of the US economy and the increasing probability of a December rate hike. Sterling on the other hand was losing the ground it regained following the flash crash on concerns about the impact of Brexit. In economic data, Japan’s current account surplus climbed to 2 trillion yen in August, higher than economists’ expectations of a 1.5 trillion figure. The higher figure [..]
Week Ahead – US retail sales, Yellen speech and Chinese trade to attract attention
Posted on October 7, 2016 at 1:38 pm GMTGiven this week’s major events such as nonfarm payrolls, the twin ISM surveys out of the US and the steep drop in the British pound, next week will likely be calmer. Thursday and Friday could see more action due to US retail sales, Chinese trade balance and a speech by Fed Chair Janet Yellen. US: Retail sales and Yellen speech At the beginning of the week, the Columbus day holiday in the United States could lead to thin trading conditions during North American trading [..]
European Session – Dollar rallies ahead of Friday’s employment report
Posted on October 6, 2016 at 1:53 pm GMTThe US dollar was again the big winner today, as the drop of weekly jobless claims to near a 43-year low encouraged dollar bulls who bought the greenback even on the day before the all-important employment report. The dollar made a 4-week high against the yen at 103.88, while the aussie was pushed back to 0.7568. The pound was searching for a bottom versus the US dollar as heavy selling drove it to as low as 1.2625 – further down [..]
