All Articles Tagged - GER30

US Open Preview – Pound faces headwinds as inflation disappoints; FOMC meeting minutes awaited

Posted on October 17, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Worse-than-expected CPI readings out of the UK drove sterling lower early in the European session after September’s data showed an annual inflation rate of 2.4%, below the consensus of 2.6% and under the previous mark of 2.7%. This is the lowest annual price growth in three months. Pound/dollar dropped by 0.61% to 1.3100, paring the gains it posted on Tuesday, while pound/yen declined by 0.55% and euro/pound edged higher by 0.21%. Rising concerns over the EU summit not providing [..]

US Open Preview – Pound gains on upbeat British wages before EU summit

Posted on October 16, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: Growth in British average earnings (excluding bonuses) in August came in stronger than expected at 3.1% y/y versus forecasts of 2.9%, helping pound/dollar to rally as high as 1.3227 early in the European session before slipping back to 1.3219 (+0.51%). Employment declined, though, by 5k missing forecasts of a 11k rise and the unemployment rate matched expectations, remaining unchanged at 4.0%. Optimistic comments by a German government official who said that a Brexit deal could be achieved by [..]

US Open Preview – Pound bounces up as geopolitics weigh on dollar; gold rallies to 3-month highs

Posted on October 15, 2018 at 12:06 pm GMT

Here are the latest developments in global markets: FOREX: After starting the day with a gap down at 1.3082, pound/dollar managed to turn positive during the early European session, rallying to 1.3170 (+0.12%) mainly due to a weaker dollar. Brexit uncertainties continued to linger in the background as the talks between Brexit negotiators failed to break the Irish deadlock on Sunday, though some officials showed optimism that a deal could be agreed in coming weeks. The yen attracted further demand in the [..]

US Open Preview – Euro, pound erase gains; equities take off as risk-off recedes

Posted on October 12, 2018 at 11:45 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen moved off one-month lows, trading marginally up at 112.32 (+0.13%) as US 10-year Treasury yields slightly rebounded despite US President’s criticism on monetary policy and as risk aversion eased. Trade fears also somewhat calmed down after Chinese exports in September surprised analysts, showing a double-digit growth of 14.5% y/y, the highest since February, while imports appeared weaker than expected. News that the US and the Chinese President could hold a meeting in November and headlines [..]

US Open Preview – Dollar cautious ahead of US CPI; Europe joins in global stock sell-off

Posted on October 11, 2018 at 11:14 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was barely moving around 112.22 after dropping to 111.95 early on Thursday as US 10-year Treasury yields weakened to 3.15% from 3.24% on Wednesday. Trade worries were also weighing on investors appetite despite China’s Commerce Ministry saying Beijing is open for dialogue with Washington. US CPI figures later today could bring fresh waves of volatility to the greenback (see below). The dollar index was struggling too at 95.32 (-0.20%) on the [..]

US Open Preview – Brexit hopes hold pound up; US PPI in focus

Posted on October 10, 2018 at 11:56 am GMT

Here are the latest developments in global markets: FOREX: The British pound unlocked fresh two-week highs against the US dollar at 1.3184 but it soon fell to 1.3136 after GDP growth readings out of the UK missed a forecast of 1.6% y/y, showing instead an expansion of 1.5%. July’s mark, though, was revised upwards, from 1.6% to 1.7%. Separately, manufacturing and construction outputs in August disappointed as well, driving industrial production back to the negative territory. The British trade balance [..]

US Open Preview – Euro feels more pain as Italian stress weighs; bond yields hit fresh highs

Posted on October 9, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: The euro erased earlier gains to fall as low as 1.1435 (-0.50%), the lowest since August 20, as a potential clash between Rome and the EU over Italy’s spending plans looked unavoidable – especially after bitter comments by the Deputy Prime Minister, Matteo Salvini in Brussels on Monday. Meanwhile, Italy’s finance minister reiterated today that the deficit target for 2019 will be 2.4% of GDP, but also said that the government will take action if the yield spread widens. US [..]

US Open Preview – Dollar steady ahead of NFP; Brexit hopes support pound

Posted on October 5, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar held steady against the Japanese yen on Friday, as investors turned their attention to the monthly US Nonfarm payrolls report due later today. The pair was last trading around 113.87. The US dollar index, which tracks the dollar’s strength against six major currencies, was also flat around 95.76, set to complete the second consecutive green week. Turning to Brexit news, European Union Brexit negotiators see a deal with Britain in the near future, [..]

US Open Preview – Dollar holds above 114 vs yen as US bond yields soar; US factory orders pending

Posted on October 4, 2018 at 12:08 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar retreated by 0.33% to 114.16 against the Japanese yen on Thursday after topping at 114.54 on Wednesday, the highest in 11 months. Following yesterday’s positive US data and hawkish comments from Federal Reserve Chairman Jerome Powell, US 10-year government bond yields spiked as high as 3.23% today, a level never seen since June 2011. Powell said that interest rates still have a long way to go to reach neutral levels, flagging that additional rate [..]

US Open Preview – Pound weaker after UK PM May’s conference speech

Posted on October 3, 2018 at 12:05 pm GMT

Here are the latest developments in global markets: FOREX: The common currency crawled up on Wednesday from six-week lows on news that the final version of Italy’s budget deficit could be less worse than originally reported. Government sources signalled possible reductions to the deficit targets in 2020, 2021, according to reports. Earlier today, retail sales in the Euro area dropped by 0.2% m/m in September from a downwardly revised 0.6% decline in the previous month, missing market expectations of a 0.2% gain. It was the second consecutive month of decrease in [..]

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