All Articles Tagged - IT40

US Open Preview – Dollar holds up versus yen ahead of NFP job report

Posted on November 2, 2018 at 12:20 pm GMT

Here are the latest developments in global markets: FOREX: Dollar/yen eased to 112.81 but remained up on the day (+0.12%) after rising as high as 113.10 early in the European session as investors were looking for details to confirm that the US President and the Chinese leader will attempt to reach a trade agreement at the G20 summit in Argentina later this month. This came after reports that the government heads had a constructive phone call yesterday, with China’s foreign [..]

US Open Preview – Pound cheers on Brexit optimism and BoE rate guidance

Posted on November 1, 2018 at 12:34 pm GMT

Here are the latest developments in global markets: FOREX: Pound pairs were trading notably higher early in the European session, benefiting on reports the EU and the UK have reached a tentative agreement to allow British financial services companies to have a continued access to European markets after Brexit. It should be kept in mind though that the UK’s Brexit negotiator said that “nothing is agreed until everything is agreed”. On the monetary policy front, all nine BoE policymakers voted to keep rates steady at 0.75%, while slightly lowering growth projections [..]

US Open Preview – Euro slips to 2 ½-month lows despite encouraging inflation signs; stocks bounce higher

Posted on October 31, 2018 at 12:05 pm GMT

Here are the latest developments in global markets: FOREX: Euro/dollar printed a 2 ½-month low at 1.1330 on Wednesday despite eurozone’s flash core inflation rate inching up to 1.3% y/y in October, from 1.2% expected, and 1.1% seen in September. The headline inflation print remained unchanged at 2.2% y/y, at the strongest since 2012, but buying interest was subdued as concerns over the Italian budget battle as well as uncertainty about how political conditions would unfold in Germany after Chancellor Merkel leaves the office in 2021, brushed funds out of the market. [..]

US Open Preview – Dollar gains ground as euro and pound underperform; BoJ rate decision awaited

Posted on October 30, 2018 at 12:26 pm GMT

Here are the latest developments in global markets: FOREX: Eurozone’s initial GDP growth estimate for the third quarter was rather disappointing, clocking in at 1.7% y/y, the lowest since Q4 2017. On a quarterly basis, expansion unexpectedly slowed to 0.2%, from 0.4% previously. Consumer confidence was confirmed at -2.7 in October, not far above the 1 ½ -year low of -2.9 reached in September. Yet investors’ mood didn’t deteriorate significantly in the wake of the data, even under rising political noises in [..]

US Open Preview – Euro rises softly ahead of ECB rate announcement; equities show some recovery

Posted on October 25, 2018 at 11:22 am GMT

Here are the latest developments in global markets: FOREX: The euro was slowly rising versus the US dollar (+0.15%) below 1.1500 on Thursday ahead of the European Central Bank (ECB) interest rate decision later in the day, where the Bank is expected to keep policy unchanged but is likely to give some growth hints. The pair pared some losses after sliding to a fresh 2-month low of 1.1377 on Wednesday. Earlier in the day, the German Ifo business climate index for October dropped [..]

US Open Preview – Euro, pound among the worst performers; May’s speech and BoC rate decision in focus

Posted on October 24, 2018 at 11:49 am GMT

Here are the latest developments in global markets: FOREX: The British pound and the euro were among the worst performing major currencies in early European session on Wednesday, losing around 0.60% against the greenback. Pound/dollar hit a fresh 1 ½-week low at 1.2898 before the UK Prime Minister Theresa May meets with her Conservative Party lawmakers later today (see below). The European Council President, Donald Tusk, said he would call for a November summit, which was previously cancelled by EU leaders, [..]

US Open Preview – Euro trades flat as Italy awaits EU’s verdict; European stocks in the red

Posted on October 23, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was trading weaker by 0.10% while dollar/yen failed to pierce the 113 round level and instead dived to 112.30 (-0.43%), as the yield on 10-year Treasuries dropped by 5 basis points to 3.14%. Meanwhile the US President promised to give the middle class a 10% tax cut yesterday, intensifying his campaign ahead of US midterm elections on November 6. Euro/dollar was flat at 1.1468 as investors awaited the EU to give an answer on the Italian draft budget later today. Pound/dollar was up by [..]

US Open Preview – Euro returns below 1.15 after Italy’s response; UK PM to speak in Parliament

Posted on October 22, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: Sterling was declining by 0.25% against the US dollar on Monday as uncertainties around the Irish border weighed on hopes that a Brexit deal is close ahead of the UK Prime Minister’s speech in the Parliament. Pound/yen was fairly steady, while euro/pound increased by 0.23%. Euro/dollar reversed earlier gains to trade at 1.1494 (-0.16%) after Italy’s Finance Minister backed the 2019 draft budget even after EU’s warning letter last week (see below). Dollar/yen traded [..]

US Open Preview – Euro ticks up despite EU’s Italy warning; loonie edges higher ahead of Canadian CPI

Posted on October 19, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The euro reached a new 10-day low at 1.1431 against the US dollar earlier on Friday after the European Commission sent a cautionary letter to Italy over the submitted draft of their budget plan. However, euro/dollar managed to pare its losses, rising by 0.10% to 1.1462 later in the day, while euro/yen improved as well, jumping by 0.23% on the day. Pound/dollar moved slightly higher by 0.09% earlier today after European Union negotiator Michel Barnier said that a [..]

US Open Preview – Pound regains ground despite retail sales weakness; offshore yuan at 2-month lows ahead of China’s GDP growth

Posted on October 18, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar ran to a new 1-week high against the Japanese yen earlier on Thursday after FOMC minutes from the September 24-25 policy meeting affirmed the prospect of additional rate hikes until the end of 2019. However, the pair eased by 0.18% soon after to trade at 112.47. The US dollar index reversed lower as well, last seen at 95.51 (-0.07%). British retail sales fell by 0.8% in September, posting a larger decline than the 0.4% [..]

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