FX Daily Outlook | 06-02-17
Posted on February 6, 2017 at 9:24 am GMT[..]
XM does not provide services to residents of the United States of America.
Week Ahead – RBA and RBNZ meetings eyed in quiet data week
Posted on February 3, 2017 at 4:34 pm GMTCentral bank meetings in Australia and New Zealand will come into focus next week in an otherwise muted seven days for economic data. Industrial output and trade data from Germany and the UK will also be eyed, while Canadian employment figures will be watched too. Clouded outlook for RBA rates The Reserve Bank of Australia will meet on Tuesday for its first policy meeting of 2017. It is expected to keep rates unchanged at the current record low of 1.50% [..]
FX Daily Outlook | 03-02-17
Posted on February 3, 2017 at 10:04 am GMT[..]
European session – Pound plummets as BoE in no hurry to raise rates; Dollar extends Fed losses
Posted on February 2, 2017 at 4:33 pm GMTMarket participants’ attention shifted for the most part to the UK today as the Bank of England meeting on monetary policy and subsequent press conference by BoE Governor Mark Carney took place. The BoE’s Monetary Policy Committee unanimously decided to maintain its key rate at the record low of 0.25%. No changes were made to its bond-buying program either, while the Bank was more upbeat in both the prospects of the job market and its growth forecasts, upwardly revising its [..]
Forex News – Sterling hit by Bank of England promise to keep low interest rates
Posted on February 2, 2017 at 4:06 pm GMTThe Bank of England released today its first interest rate decision as well as economic forecasts of the year, followed by a press conference by Governor Mark Carney. Sterling fell sharply from a pre-announcement seven-week high against the dollar. The BoE held its key rate at a record-low 0.25 percent as expected and by a unanimous vote by the Monetary Policy Committee (MPC). It also left its bond-purchase programs unchanged, by agreeing to halt purchases of government bonds at £435 billion and a [..]
FX Daily Outlook | 02-02-17
Posted on February 2, 2017 at 10:10 am GMT[..]
Asian session – US dollar on back foot following Fed statement; aussie helped by trade numbers
Posted on February 2, 2017 at 8:46 am GMTThe US dollar was under some pressure during Thursday’s Asian session as the Fed statement from the previous day underwhelmed the market. The dollar index sunk to a 2 ½ -month low following the Fed statement, which showed little urgency on behalf of the rate-setting committee to raise rates. The Fed’s decision to hold rates was unanimous and a no-change verdict was widely expected by market participants. The Fed was upbeat on US economic prospects regarding both growth and inflation. [..]
Forex News – Fed holds rates; Avoids signalling March hike but more confident on inflation
Posted on February 1, 2017 at 8:49 pm GMTThe Federal Reserve’s Open Market Committee (FOMC) kept interest rates unchanged on Wednesday at the first policy meeting of the year and the first since Donald Trump took office as US President. The decision was widely expected given that the Committee had only raised rates in December by 25bps to a target range of 0.50-0.75%. The language of today’s FOMC statement was largely similar to recent meetings’ but there were a few notable changes, in particular, with regards to inflation. [..]
FX Daily Outlook | 01-02-17
Posted on February 1, 2017 at 10:43 am GMT[..]
Asian session – Dollar attempts recovery after Trump and aide’s comments reopen currency wars prospect
Posted on February 1, 2017 at 8:31 am GMTThe US dollar was trying to regain some ground following a selloff, as President Trump together with an administration official responsible for trade policy, castigated countries like China, Japan and Germany for their currency policies. Specifically, Trump and his administration official Peter Navarro said that other countries were using undervalued currencies to gain an unfair trade advantage. This created concern to dollar bulls that the greenback would now also become an instrument of trade policy, together with other protectionist measures that [..]
