All Articles Tagged - IT40

US Open Preview – Yen rebounds on Abe’s remarks; US retail sales and industrial production eyed

Posted on September 14, 2018 at 11:43 am GMT

Here are the latest developments in global markets: FOREX: Hopes for China and the US to restart trade dialogues soon, higher growth projections by the Bank of England and the ECB’s optimism for wages and inflation in the EU reduced the demand for safe-havens such as the yen, sending dollar/yen to 112.07 early on Friday for the first time since August 1. Yet, the upside did not last for long, with the pair dropping back to 111.70 (-0.11%) after the Japanese Prime Minister, Shinzo Abe [..]

European Open Preview – Yen crumbles amid risk-on mood; US retail sales in the spotlight

Posted on September 14, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly unchanged on Friday (-0.02%), holding on to the losses it posted in the previous session following a disappointment in the US CPI inflation data. The yen also retreated across the board, as risk appetite remained firm and investors rotated funds out of haven assets and into riskier ones. Meanwhile, the euro gained slightly after the ECB confirmed its normalization plans remain on track yesterday, while the pound was [..]

US Open Preview – Euro, pound on the sidelines ahead of BoE and ECB rate announcements; Turkey decides on rates too

Posted on September 13, 2018 at 10:59 am GMT

Here are the latest developments in global markets: FOREX: The euro and the pound were in a quiet trade a few hours before the European Central Bank and the Bank of England make announcements on interest rates, with euro/dollar edging slightly down to 1.1610 (-0.13%) and pound/dollar consolidating around 1.3045. The Turkish central bank is also scheduled to decide on interest rates later today and unlike its European counterparts who are projected to stand pat, it is expected to lift borrowing costs to [..]

European Open Preview – Trade talk hopes weigh on dollar; BoE, ECB & Turkish central bank policy decisions eyed

Posted on September 13, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is slightly higher on Thursday (+0.08%), recouping some of the losses it posted in the previous session as safe-haven bets on the currency were scaled back, following news the US and China are set to hold new trade talks. The risk-sensitive aussie surged, while the loonie also advanced after Mexico’s economy minister played up the prospect of a US-Canada trade deal. Elsewhere, the euro and sterling were little changed, ahead [..]

US Open Preview – Dollar trades with caution ahead of PPI; EM currencies at fresh lows as trade fears weigh

Posted on September 12, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: During the early European session, the dollar was slightly weaker against the yen at 111.47 (-0.13%), while the dollar index also stood marginally lower at 95.16 (-0.09%) as investors were cautious about whether Washington will proceed with further import tariffs against China, potentially forcing Beijing to take countermeasures as well. In emerging markets, trade fears spurred a further sell-off, with the offshore Chinese yuan dropping to 2 ½ -week lows and the Indian rupee hitting fresh record troughs [..]

European Open Preview – Yen retreats as risk appetite firms; trade, EM-angst and Brexit remain in the background

Posted on September 12, 2018 at 8:03 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was nearly flat against a basket of six major currencies on Wednesday (-0.03%), after posting some modest losses in the previous session. Meanwhile, the yen retreated notably on Tuesday, as risk appetite remained firm and investors rotated out of safer assets. In Canada, the loonie staged a significant comeback amid encouraging NAFTA signals from the US President and a surge in oil prices. STOCKS: US markets closed in the green on Tuesday, buoyed by [..]

US Open Preview – Brexit hopes and wage data support sterling; euro drops as China turns to WTO for US sanctions

Posted on September 11, 2018 at 11:25 am GMT

Here are the latest developments in global markets: FOREX: An upbeat employment report in the UK helped pound/dollar to briefly rally toward a fresh five-week high of 1.3086 during the early European session as the data showed that average weekly earnings picked up speed to 2.6% y/y in July, surpassing the forecast of 2.4%. Excluding bonuses, British wages recorded a stronger growth as well, expanding at 2.9% compared to the 2.8% estimate and the previous mark of 2.7%. Regarding the number of people claiming unemployment benefits, [..]

US Open Preview – Euro benefits on Italian political optimism; Pound rebounds as UK GDP growth surprises

Posted on September 10, 2018 at 11:47 am GMT

Here are the latest developments in global markets: FOREX: Sterling crossed marginally below 1.2900 per dollar before better than expected GDP growth figures out of the UK drove the pair up to an intra-day high of 1.2954 amid speculation that British economy could have a good start in the third quarter despite Brexit uncertainties looming in the background. GDP growth clocked in at 0.3% in monthly terms, driving the yearly gauge up to 1.6%. Expectations were for an expansion of 0.2% month-on-month [..]

US Open Preview – Dollar index steady as trade deadline clocks down; ADP employment report in focus

Posted on September 6, 2018 at 11:36 am GMT

Here are the latest developments in global markets: FOREX: The pound continued the rally today that it posted yesterday on reports that Germany and the UK have dropped key Brexit demands after giving back some of them on Wednesday on new headlines that Germany has not changed position on Brexit. Pound/dollar rose by 0.26% above 1.2900, while euro/pound dropped by 0.29% below the 0.9000 round number. Furthermore, euro/dollar turned negative after it opened the day in the green, retreating by 0.06% to 1.1620 following disappointing German [..]

US Open Preview – Pound holds bearish move despite upbeat Services PMI; loonie rebounds ahead of BoC rate decision

Posted on September 5, 2018 at 11:55 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was moving sideways versus a basket of six major currencies on Wednesday as worries remain that the US President Donald Trump may soon restart a trade war with Beijing by imposing tariffs on more Chinese imports as early as tomorrow. Dollar/yen edged up by 0.12% but remained below its intraday high of 111.71. Turning to the euro area, the final German Markit services PMIfor the month of August was revised down to 55.0 compared to the 55.2 in the preliminary estimate, [..]

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