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
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
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
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.
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 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,
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