FX Daily Outlook| 08-03-2016
Posted on March 8, 2016 at 10:03 am GMT[..]
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Asian Session – Aussie drops on commodity profit-taking while euro rises ahead of ECB
Posted on March 8, 2016 at 9:10 am GMTStrong commodity prices were a key feature of trading during the previous session but market participants took this opportunity to book some profits in the Australian dollar. There was some volatile trading in the aussie, which made a 7-month high against the US dollar at 0.7483 during the US session. The aussie had been significantly helped by a big rally in iron ore and overall positive tone in commodities. Oil rose to its highest since early January as US crude [..]
FX Daily Outlook| 07-03-2016
Posted on March 7, 2016 at 10:09 am GMT[..]
US GDP in surprise upward revision; dollar/yen lifted to 1-week high
Posted on February 26, 2016 at 4:03 pm GMTThe US economy expanded by more than initially estimated in the final three months of 2015 as inventories rose by more than first reported. GDP grew at an annualized rate of 1% in the fourth quarter, up from initial estimates of 0.7% and above consensus forecasts of a 0.4% expansion. However, this still represents a slowdown from the 2.0% rate seen in the previous quarter. The main changes in the second estimate that drove the upward revision were higher inventories, [..]
Dollar firmer after US durable goods orders bounce back in January
Posted on February 25, 2016 at 3:33 pm GMTTotal new orders for manufactured durable goods in the United States jumped by 4.9% in January, reversing December’s upwardly revised 4.6% drop. Consensus forecasts were for a monthly increase of 2.5%. The data follows better-than-expected industrial production figures from last week that showed output increasing by 0.9% month-on-month in January. US manufacturers have been struggling since the second half of last year amid weak global demand and a strong dollar, relying on domestic demand to sustain growth. The latest figures [..]
Sterling and euro united in pain amid rising Brexit fears
Posted on February 23, 2016 at 12:15 pm GMTThe pound and the euro under pressure The pound was under severe pressure at the beginning of the week after the Mayor of London, Boris Johnson, an important member of the ruling Conservative party’s leadership, decided to take a stance against the position of the leader of his own party, Prime Minister David Cameron. Specifically, Boris Johnson said he would back the “Leave” campaign on the upcoming June referendum for Britain’s EU membership. In hindsight, as Britain’s conservatives have been [..]
Upbeat January retail sales data briefly lift dollar
Posted on February 12, 2016 at 3:43 pm GMTRetail sales data out of the United States today showed consumer spending remained buoyant in the first month of the year. Total retail sales rose by 0.2% month-on-month in January, beating estimates of a 0.1% increase. The data is even more upbeat when considering the revision to December’s figure, which was revised up to 0.2% from -0.1%. On a year-on-year basis, retail sales were up 3.4%. The ‘control’ measure of retail sales, which excludes sales of volatile items, rebounded even [..]
European Session – Yen surges on risk aversion, gold at one-year high
Posted on February 11, 2016 at 3:24 pm GMTRisk aversion spiraled again today, pushing investors to seek safe havens such as the yen and gold, while the US dollar and global equities tumbled. Today’s sell off from risky assets extends from Wednesday following Fed Chair Janet Yellen’s testimony to the US Congress and her acknowledgement of intensifying risks in the US and global economy, while also suggesting the Fed was in no rush to hike rates. Gold prices soared to a one-year high above $1240 on safe-haven demand, [..]
FX Daily Outlook| 11-02-16
Posted on February 11, 2016 at 10:29 am GMT[..]
Asian Session – Dollar slides below 112 yen on dovish Yellen
Posted on February 11, 2016 at 8:38 am GMTThe US dollar slipped to fresh 4-month lows following Fed Chair Janet Yellen’s testimony yesterday where she warned of downside risks to the US economy. Speaking before Congress, Yellen stuck to the Fed’s current policy path but signalled that rates might have to rise at a more gradual pace than expected, saying that the Fed is not on a “preset course”. She noted that financial conditions in the US have become less supportive of growth and while the economy is [..]
