Continental AG issues profit warning, shares fall 8% ForexLive European stocks recovered from softer opening tones in the first hour but the DAX is seeing a rather short-lived reprieve. This comes as Continental AG decides to revise its guidance for the current fiscal year and cuts 2018 sales along with adjusted EBIT margin guidance. The
Jens Pedersen, Senior Analyst at Danske Bank, gives his opinion on the current developments around the buck. Key Quotes “In G10, EUR/USD moved higher yesterday towards the 1.16 level aided by further stabilization in risk sentiment and development in the personal investigation against US President Trump”. “Trade talks could be important to keep an eye
Talking Points – EU, US, Iran, Japanese Yen, Swiss Franc, EUR/USD US sanctions on Iran may reignite EU-US trade war, decrease Iranian oil exports Global trade war could hurt growth, cause widespread dovish monetary policy shift Yen, Franc may rise as commodity currencies and the Euro fall amid risk aversion BACKGROUND – A Brief History
Moody’s say China economic growth likely slow to 6.6% in 2018 from 6.9% in 2017 Coming Up! Title text for next article The ratings agency with forecasts Asia Pacific non-financial corporates show stable credit trend, but escalating trade tensions pose risks Further escalation of trade tensions to not only harm growth in both China and
Analysts at TD Securities explained that New Zealand real retail sales jumped by +1.1%/q, smashing even the most optimistic +0.8%/q forecast (mkt +0.3%/q). Key Quotes: “11/15 industries expanded in the quarter. After +4.7%/q blockbuster Building supplies, other contributors to the strong result were Food and beverage services (+1.7%/q) and Dept stores (+2.8%/q).Broad-based strength dilutes concerns
Resistance held like it was supposed to… The tough nut to crack at the 100 hour MA, trend line, 50% was indeed a tough nut to crack (see earlier post). The price has now rotated back lower. The price has moved back down to test the Friday lows at the 110.318. A move below should
Below are the key quotes, via Reuters, from the opening remarks by Michel Barnier, European Commission Chief Negotiator for Article 50 Negotiations with the UK. Negotiations are entering the ‘final stage’. After July talks, we’re far more advanced in defining common ground for security cooperation than trade. EU single market must be respected in economic
Talking Points: – The US Dollar has fallen-back to find short-term support at a key area on the chart. This is the potential support zone that we had looked at yesterday taken from the resistance area that held the highs in DXY for a month-and-a-half. The zone runs from 95.00 up to 95.53, but it
Latest data released by the Confederation of British Industry – 21 August 2018 Prior 11 Trends selling prices 15 vs 14 expected Prior 13 ForexLive Readings above 0 indicates optimism while below indicates pessimism. The headline is a survey on manufacturers to rate the level of volume for orders expected during the next 3 months. Factory
Zhu Hexin, the deputy governor of the People’s Bank of China (PBoC), was out on the wires in the last hour, saying that the central bank intends to make policies more flexible, forward-looking and effective. Key quotes: • Will keep reasonable, ample liquidity without flooding the financial system. • Will step up policy coordination
UK government aims to boost exports to 35 percent of GDP – plan due on Tuesday Coming Up! Title text for next article British government will publish a new export strategy on Tuesday The aim is to boost exports to 35 % of gross domestic product Wants to increase trade with the rest of the
AUD/NZD Talking Points: The Australian and New Zealand Dollars tend to closely follow global stock indexes AUD/NZD can thus at times net out market mood swings, acting as “risk neutral” This places the focus for AUD/NZD on RBA and RBNZ monetary policy expectations Have more questions about AUD/NZD? Join a free Q&A webinar and have
AUD/USD has been making tracks to the upside on dollar weakness and stability overall in the commodity complex. AUD/USD has rallied from 0.72 the figure since the 15th August to make a high of 0.7245 printed within the last hour. Currently, AUD/USD is oscillating at 0.7343. While there has been a correction in the CRB
German Dax up 1.1% The major European stock indices are ending the session with gains led by the German Dax. German Dax, +1.1% France’s CAC, +0.7% UK FTSE, +0.6% Spain’s Ibex, +0.7% Italy’s FTSE MIB, +0.27% Portugal PSI20 up 0.32% In the 10 year notes, yields were lower with the riskier pairs down the most.
Talking Points: – There are only two ‘high’ rated data releases on the calendar this week, the July Japanese National Consumer Price Index and the preliminary July US Durable Goods Orders report. – Central banks are in the spotlight, with a speech from RBA Governor Lowe, both of the most recent ECB & FOMC meeting
EUR/USD falls below the near-term upwards trendline ForexLive The inability to break above the 200-hour MA (blue line) and offers around the 1.1450 level has resulted in a move lower in EUR/USD and the pair is now trading near session lows close to the 1.1400 handle. The move lower in the last hour also sees
There are some political shenanigans occurring in Australia today, a potential challenge to the Prime Minister I have seen a think-out-loud piece from Australia’s best election analyst (ABC’s Antony Green’ raising the potential for an early poll: We are within 12 months of the end of the Senate term So whoever is Prime Minister is
Martin Enlund and Andreas Steno Larsen, analysts at Nordea offered some FX quickies for those of a tactical persuasion. Key Quotes: “EUR/USD: still slightly downwards biased, with resistance on the upside around 1.1448.” “EUR/NOK: rising liquidity a seasonal problem for the NOK even as a first rate hike beckons. Shorts should stay away until mid-September.
Jackson Hole back on the agenda The week ahead should be lively with some top-tier data and news on the agenda. Here are a few things to watch out for. Monday: Eurozone construction output The BOC’s Wilkins speaks in Frankfurt Fed’s Bostic speaks in Tennessee Tuesday: A Chinese delegation led by Vice Minister of Commerce
View our economic calendar to see the events that might influence each currency this week. US Dollar Forecast: US Dollar Rally May Resume on Fed Minutes, Jackson Hole Symposium The US Dollar fell from an 18-month high on hopes for trade war de-escalation. Augusts’ FOMC meeting minutes and the Jackson Hole Symposium may revive the
FUNDAMENTAL FORECAST FOR THE US DOLLAR: BULLISH US Dollar Talking Points: US Dollar touches 18-month high amid emerging market turmoil Hopes for US, China trade war de-escalation trigger downturn Hawkish FOMC minutes, Jackson Hole news-flow to revive rally See the latest US Dollar forecast learn what will drive prices in the third quarter! The US
FUNDAMENTAL FORECAST FOR CNH: Neutral How to trade news? Learn with DailyFX Free Trading Guides! PBOC stepped in twice when the USD/CNH broke above 6.90, a key threshold below 7.0. US-China Trade war and weak Chinese fundamentals add difficulties to support the Yuan. USD/HKD touched the lower limit of 7.85, a level that HKMA will
Fundamental Australian Dollar Forecast: Neutral AUD Talking Points The Australian Dollar remains in a pervasive downtrend against its US cousin Interest rate differentials and twitchy risk appetite will probably ensure it stays ther But this week could offer some pause Find out what retail foreign exchange traders make of the Australian Dollar’s prospects right now,
Forex news for North American trading on August 17, 2018: Markets: WTI crude up 0.48 to $65.94 Gold up $10 to $1184 S&P 500 up 9 points to 2850 US 10-year yields float at 2.86% AUD leads, USD lags The day started with a surprisingly hot Canadian CPI report at 3.0% y/y versus 2.5% expected.
Ripple leads the way with a 15% gain The chart doesn’t paint the prettiest near-term picture but a massive gain is a massive gain and that’s exactly what Ripple and some other cryptos had today. Ripple led the way with a 15% gain, up to 0.34 cents. It’s up 38% from the mid-week low. Ripple announced
S&P Global Ratings has recently announced that it lowered Turkey’s sovereign rating to B+ from BB- while maintaining the outlook at stable. Below are key takeaways, via Reuters, from the publication. S&P says Turkey long-term foreign currency rating lowered to ‘b+’ on implications of extreme lira volatility; outlook stable. S&P says substantial weakening of lira has
Fundamental Forecast for <USOIL>: Neutral Talking Points: The ONE Thing: Emerging markets like China, Turkey, & South Africa dominated the news flow and continued to be a cause for concern about whether or not demand is waning for energy. Seven straight weekly losses would account for the longest losing streak since 2015 Per BHI, U.S.
“Gold specs continued to add to their net short positioning, which is the shortest since 2001, as the record amount of shorts continue to grow,” TD Securities analysts pointed out in a recently published report that assesses the latest CFTC report. Key quotes “Gold: Persistent dollar strength amid Turkey concerns and EM currency turmoil prompted