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Week Ahead – GDP out of US and UK in focus; Eurozone and Japan inflation due

Posted on June 23, 2017 at 3:13 pm GMT

Growth data are due from two of the world’s largest economies – the United States and the United Kingdom. Japan will also be releasing a flurry of data. United States A slew of data are expected from the US next week. The Personal Consumption Expenditure (PCE) price index is one of the most important indicator as well as personal income and spending. The May PCE figure is due on Friday and it is a closely monitored indicator as it is the [..]

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Forex Market Review (European Session) – Loonie suffers on inflation; dollar down; sterling maintains positive momentum

Posted on June 23, 2017 at 2:56 pm GMT

Among the highlights in today’s European session were flash Markit PMI estimates out of the eurozone and the US, Canadian inflation figures and US new home sales data. Beyond economic releases, the pound maintained yesterday’s momentum on rising expectations of a rate hike by the Bank of England. Flash eurozone PMI numbers for the month of June showed the manufacturing sector performing strongly and the services sector surprising to the downside. Specifically, the manufacturing PMI number came in at the [..]

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Forex Market Review (Asian Session) – Oil-linked currencies gain with the commodity’s rise; dollar retreats

Posted on June 23, 2017 at 7:43 am GMT

As the Asian trading session is coming to a close, the dollar is modestly down while commodity-linked currencies, such as the loonie, are gaining ground versus the greenback on the back of oil rising. The dollar index, a broader gauge of the US currency’s strength, was last down two-tenths of a percent on the day. Dollar/yen was slightly down at 111.25. If it closes the day lower, it would be the fourth consecutive day of declines for the pair. The [..]

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Forex Market Review (European Session) – Loonie boosted by strong Canadian retail sales; oil makes some recovery

Posted on June 22, 2017 at 2:55 pm GMT

Major currencies were mostly range-bound in a relatively quiet session due to a light news flow and few data releases. The UK published the CBI industrial orders expectations data for June, which rose to +16 versus an expectation for a fall to +7 from a reading of +9. This was the highest number in 30 years, reflecting strength across most sectors of the economy. A weaker pound since the Brexit vote has helped. Meanwhile, UK Prime Minister Theresa May went [..]

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Forex Market Review (Asian Session) – Kiwi lifted by positive RBNZ growth outlook; oil prices deteriorate on supply glut concerns

Posted on June 22, 2017 at 7:27 am GMT

The New Zealand dollar jumped after the Reserve Bank of New Zealand said the country’s growth outlook remained positive. Sterling held onto gains after the hawkish comments from Bank of England’s Andrew Haldane.  Oil prices hovered near 10-month lows on over-supply concerns. The RBNZ held a policy meeting today and announced its decision to keep its benchmark interest rate at the record low of 1.75%. The central bank maintained its neutral policy stance and had an overall positive tone. It [..]

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Investment Theme – Sterling weighed by uncertainty of Brexit talks and unlikely rise in interest rates soon

Posted on June 21, 2017 at 3:14 pm GMT

The British pound has been weighed by political uncertainty that has been brought about by Brexit as well as the inconclusive outcome of the snap general election that took place on June 8 that resulted in a hung parliament. Sterling has been unable to recover from its tumble of almost two and a half cents against the dollar on the Monday after the vote, which took it to the $1.26 handle from above $1.29 before the elections. Aside from a [..]

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Forex Market Review (European Session) – Sterling bounces up on BoE Haldane’s comments; dollar flat; WTI oil gains on EIA

Posted on June 21, 2017 at 3:08 pm GMT

In another relatively quiet European session in terms of economic releases and in similar fashion to yesterday, forex market participants mainly reacted to comments by central banking figures, namely the hawkish remarks by a Bank of England policymaker which helped the pound bounce higher. In terms of the few releases during the day, those that attracted most attention were existing home sales data and the Energy Information Administration’s weekly report on crude stockpiles out of the US. Sterling received a [..]

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