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709200.0 | 2019-08-08 00:00:00 UTC | China Trade Data and a Weaker Yuan Set the Tone Early | DBO | https://www.nasdaq.com/articles/china-trade-data-and-a-weaker-yuan-set-the-tone-early-2019-08-08 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a busier Asian session on the economic calendar this morning.
Economic data through the session included June current account figures out of Japan and, more importantly, July trade data out of China.
For the Japanese Yen
The current account surplus narrowed from ¥1.595tn to ¥1.211tn in June, which was better than a forecasted narrowing to ¥1.140tn.
The Japanese Yen moved from ¥106.112 to ¥106.120 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.03% to ¥106.24 against the U.S Dollar
Out of China
The trade surplus narrowed from $50.98bn to $45.06bn in U.S Dollar terms. Economists had forecasted a narrowing to $40.00bn.
Exports rose by 3.3% year-on-year, coming in ahead of a forecasted 2% fall. In June, exports had fallen by 1.3%.
Imports fell by 5.6%, year-on-year, which was also better than a forecasted 8.3% slide. In June exports had tumbled by 7.3%.
The Aussie Dollar moved from $0.67772 to $0.67820 upon release of the figures, before easing back. At the time of writing, the Aussie Dollar was up by 0.25% to $0.6774.
Elsewhere
At the time of writing, the Kiwi Dollar was up by 0.20% to $0.6459.
In the Asian equity markets, it was risk on with the major indexes in positive territory at the time of writing. The CSI300 led the way early on, with a 1.18% gain. While the Hang Seng and Nikkei were up by 0.69% and 0.64%, the ASX200 trailed, rising by just 0.34%.
Support from the majors came from better than expected trade data and a stronger than expected daily fixing of the Yuan.
The Day Ahead:
For the EUR
It’s another relatively quiet day ahead on the economic calendar. There are no material stats to provide direction on the day. The lack of stats leaves the EUR in the hands of the ECB Economic Bulletin due out later this morning.
Negative sentiment towards the Eurozone and global economies could add pressure on the EUR on the day.
Any downside could be offset should there be any negative chatter from Beijing or Washington on trade.
At the time of writing, the EUR was up by 0.11% to $1.1211.
For the Pound
It’s a relatively quiet day ahead on the data front, with economic data limited to July house price figures released early this morning.
House prices fell by 9% in July, according to the latest RICS Survey. The figures had a muted impact on the Pound in the early hours, however.
A lack of stats through the day will continue to leave the Pound in the hands of Boris Johnson and Brexit. While the Pound may have bottomed out for now, there may well be more twists and turns in the coming weeks.
The EU has continued to stand its ground and stated that there is little point in meeting at the negotiating table. With the UK Parliament in summer recess, there’s not much talk of preventing a no-deal departure to support a Pound resurgence.
At the time of writing, the Pound was up by 0.19% to $1.2166.
Across the Pond
It’s another quiet day for the Greenback, with key stats due out of the U.S limited to the weekly jobless claims figures.
Barring a material jump in claims, we would expect the Oval Office to continue to be the key driver. Will there be an olive branch for China, or will Trump stand his ground? Some pressure must be building on Capitol Hill for a change intact…
At the time of writing, the Dollar Spot Index was down by 0.01% to 97.534.
For the Loonie
It’s a relatively quiet day ahead on the economic calendar. House price figures are due out later today. We would expect the markets to brush aside the numbers as market sentiment towards the global economy grips the majors.
This morning’s trade data out of China set the tone early. Better than expected figures provided early support, though much of the upside came off the back of a bounce-back in crude oil prices.
News of the Saudis looking to provide price support gave WTI and Brent 2.92% and 2.63% gains for the morning.
The Loonie was up by 0.20% at C$1.3276, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond It’s another quiet day for the Greenback, with key stats due out of the U.S limited to the weekly jobless claims figures. Better than expected figures provided early support, though much of the upside came off the back of a bounce-back in crude oil prices. This article was originally posted on FX Empire More From FXEMPIRE: Another Choppy Crypto Market Week Sees the Bears Fight Back Weekly Wrap – Bond Yields, the Trade War and the Stats Did the Talking U.S. Dollar Index Futures (DX) Technical Analysis – Closing in Position to Challenge Contract High at 98.700 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Economic data through the session included June current account figures out of Japan and, more importantly, July trade data out of China. For the Pound It’s a relatively quiet day ahead on the data front, with economic data limited to July house price figures released early this morning. Better than expected figures provided early support, though much of the upside came off the back of a bounce-back in crude oil prices. | Economic data through the session included June current account figures out of Japan and, more importantly, July trade data out of China. At the time of writing, the Japanese Yen was up by 0.03% to ¥106.24 against the U.S Dollar Out of China The trade surplus narrowed from $50.98bn to $45.06bn in U.S Dollar terms. For the Pound It’s a relatively quiet day ahead on the data front, with economic data limited to July house price figures released early this morning. | In the Asian equity markets, it was risk on with the major indexes in positive territory at the time of writing. For the Pound It’s a relatively quiet day ahead on the data front, with economic data limited to July house price figures released early this morning. At the time of writing, the Pound was up by 0.19% to $1.2166. | 3329ca4a-dc46-490f-9ac6-cec01bd70140 |
709201.0 | 2019-08-06 00:00:00 UTC | The RBNZ Sinks the Kiwi. Next Up, the Press Conference… | DBO | https://www.nasdaq.com/articles/the-rbnz-sinks-the-kiwi.-next-up-the-press-conference...-2019-08-07 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a quieter Asian session on the economic calendar this morning.
Economic data through the session included Australia’s June home loan figures. While the stats were on the lighter side, the RBNZ delivered its August monetary policy decision this morning.
For the Aussie Dollar
According to the ABS, new home loans fell by 0.9% in June, month on month, which was worse than a forecasted 0.6% rise. New home loans were flat in May.
The Aussie Dollar moved from $0.67770 to $0.67780 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.16% to $0.6750.
For the Kiwi Dollar
The RBNZ cut interest rates by 50 basis points to 1.00%. The markets had anticipated a 25 basis point rate cut. Salient points from the rate statement included:
The Committee noted recent economic developments were broadly as expected and employment was around targeted maximum sustainable levels.
Inflation remained below 2%, however, with the outlook for employment and inflation softer.
Also on the negative, GDP growth had slowed and global conditions had weakened.
Private sector wage growth was also subdued, in spite of a shortage of skilled labor.
The effects of a slowdown in growth could dampen wage growth inflation more than projected.
Heightened global uncertainty was reducing investment and suppressing trading-partner growth.
It was acknowledged that additional spending from households, businesses and the government was important in delivering inflation and employment targets.
The Committee noted that business confidence had remained weak in mid-2019 and could limit growth over the medium-term.
Uncertainty over house price inflation could offset the effects of lower mortgage rates and the impact on house prices.
Members of the Committee noted that estimates of the neutral level of interest rates have continued to decline.
The Committee agreed to continue to monitor and assess the impacts of monetary policy, including transmission through to retail sales.
There was nothing hawkish monetary policy statement, with downward revisions supporting the RBNZ’s larger than an anticipated rate cut.
The Kiwi Dollar moved from $0.65452 to $0.64359 upon release of the rate statement and monetary policy statement. At the time of writing, the Kiwi Dollar was down by 1.10% to $0.6453. Next up, the RBNZ press conference…
Elsewhere
At the time of writing, the Japanese Yen was up by 0.34% to ¥106.11 against the U.S Dollar
In the Asian equity markets, it was a mixed bag at the time of writing. The CSI300 and ASX200 found support early on, rising by 0.535 and by 0.12% respectively. The Nikkei and Hang Seng were down by 0.46% and by 0.14% respectively.
In spite of the PBoC intervention on Tuesday, the Yuan continued to hold at CNY7.00 levels early on in the session. At the time of writing, the Yuan was down by 0.17% to CNY7.0315.
The Day Ahead:
For the EUR
It’s another relatively quiet day ahead on the economic calendar. Key stats due out of the Eurozone are limited to Germany’s June industrial production figures.
We could see the EUR under pressure should industrial production see worse than projected numbers.
Outside of the stats, geopolitical risk will continue to have an influence on the day.
At the time of writing, the EUR was up by 0.12% to $1.1212.
For the Pound
It’s a relatively quiet day ahead on the data front, with economic data due out of the UK limited to July house price figures. We would expect the stats to have a muted impact on the Pound as the focus continues to be on Brexit.
Expect the Pound to be particularly sensitive to any Brexit chatter. For now, the baseline story is of a no-deal Brexit. Any talk of averting a no-deal departure would provide much-needed support for Sterling.
At the time of writing, the Pound was up by 0.06% to $1.2178.
Across the Pond
It’s a quiet day for the Greenback, with no key stats due out of the U.S.
The lack of stats will leave the market focus on any chatter from the Oval Office. Any further retaliatory measures would place pressure on the Dollar.
At the time of writing, the Dollar Spot Index was down by 0.15% to 97.488.
For the Loonie
It’s a relatively quiet day ahead on the economic calendar. July’s Ivey PMI is due out later today, which will provide the Loonie with direction.
We can also expect crude oil inventory numbers to also provide direction, with the weekly EIA numbers due out later in the session.
The Loonie was up by 0.02% at C$1.3279, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Salient points from the rate statement included: The Committee noted recent economic developments were broadly as expected and employment was around targeted maximum sustainable levels. The Committee agreed to continue to monitor and assess the impacts of monetary policy, including transmission through to retail sales. This article was originally posted on FX Empire More From FXEMPIRE: EUR Tango Down Price of Gold Fundamental Daily Forecast – Gold Firms on Falling Yields; Gains Capped by Strong Dollar EUR/USD Forex Technical Analysis – Straddling Weak Side of Short-term Retracement Zone The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Economic data through the session included Australia’s June home loan figures. For the Kiwi Dollar The RBNZ cut interest rates by 50 basis points to 1.00%. The Kiwi Dollar moved from $0.65452 to $0.64359 upon release of the rate statement and monetary policy statement. | Salient points from the rate statement included: The Committee noted recent economic developments were broadly as expected and employment was around targeted maximum sustainable levels. Next up, the RBNZ press conference… Elsewhere At the time of writing, the Japanese Yen was up by 0.34% to ¥106.11 against the U.S Dollar In the Asian equity markets, it was a mixed bag at the time of writing. For the Pound It’s a relatively quiet day ahead on the data front, with economic data due out of the UK limited to July house price figures. | Salient points from the rate statement included: The Committee noted recent economic developments were broadly as expected and employment was around targeted maximum sustainable levels. The effects of a slowdown in growth could dampen wage growth inflation more than projected. We could see the EUR under pressure should industrial production see worse than projected numbers. | da51ef4c-1df1-4c91-80b7-d9036eb0c6c1 |
709202.0 | 2019-08-04 00:00:00 UTC | The USD Takes a Hit as Trade War Jitters Bite. Can Stats Save the Day? | DBO | https://www.nasdaq.com/articles/the-usd-takes-a-hit-as-trade-war-jitters-bite.-can-stats-save-the-day-2019-08-05 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a relatively quiet Asian session on the economic data front this morning.
Economic data through the session included Japan and China service sector PMI numbers for July.
Outside of the numbers, geopolitical risk continued to provide direction in the wake Trump’s Thursday tweets and Friday’s sell-off.
For the Japanese Yen
The service sector PMI fell from 51.9 to 51.8 in July, which came short of a forecasted increase to 52.3. According to the Markit survey,
New business from abroad steadied following a marked decline in June. That said, demand rose at a slower extent in July.
While employment levels increased for a 31st consecutive month, the rate of job creation fell to the weakest since October.
Firms remained optimistic going into the 3rd quarter, though the level of confidence slid to the lowest in nearly 2-years.
The Japanese Yen moved from ¥106.301 to ¥106.348 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.45% to ¥106.11 against the U.S Dollar
Out of China
The Caixin services PMI stood at 51.6 in July, falling from 52.0 in June to the lowest level in 5-months. Economists had forecasted a hold at 52.0.
According to the July Caixin Composite Survey,
New orders within the services sector supported further upward momentum across the private sector, in spite of orders rising at a slower pace.
A rebound in new orders from overseas, within the services sector, also supported a pickup in new export orders at the composite level.
Job creation across the services sector was modest as firms looked to manage costs in a softer business activity growth environment. At the composite level, there was a marginal reduction in headcount for a 3rd consecutive month.
Overall private sector confidence rose to a 3-month high in July. While confidence across the manufacturing sector improved from a June record low, it was service sector confidence that was key.
The Aussie Dollar moved from $0.67645 to $0.67695 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.44% to $0.6771.
Elsewhere
The Kiwi Dollar was down by 0.54% to $0.6501.
Risk aversion weighed through the Asian session, driving support for the Yen at the expense of the Aussie Dollar and Kiwi Dollar.
The Day Ahead:
For the EUR
It’s a relatively busy day ahead on the economic calendar. Key stats due out of the Eurozone include Spanish and Italian services PMI figures for June. While France and Germany’s finalized PMIs will have a limited impact, we would expect the Eurozone’s composite PMI to also influence.
Outside of the numbers, market risk sentiment towards the U.S – China trade war will also be a factor on the day.
At the time of writing, the EUR was up by 0.11% to $1.1120 as the Dollar struggles amidst the latest trade spat.
For the Pound
It’s a relatively quiet day ahead on the data front, with July services PMI numbers to provide the Pound with direction.
While we would expect the headline number to provide direction, the devil may well be in the details on the day.
Outside of the numbers, expect Brexit chatter and sentiment towards a no-deal Brexit to also influence on the day.
At the time of writing, the Pound was down by 0.02% to $1.2160.
Across the Pond
It’s a relatively busy for the Greenback, with key stats due out of the U.S including finalized Markit services and composite PMIs and the market’s preferred ISM non-manufacturing PMI.
Barring material deviation from prelim, the ISM figures will be the key driver on the day. Expect the sub-indexes for activity, new work, employment, and optimism to also have an impact on the day.
Outside of the numbers, chatter from the Oval Office will also be key.
At the time of writing, the Dollar Spot Index was down by 0.17% to 97.906.
For the Loonie
There are no material stats due out in the day ahead. With the economic calendar bare, market risk appetite will be the key driver on the day.
Negative sentiment towards trade and the global economic outlook weighed early on.
The Loonie was down by 0.10% at C$1.3220, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Japanese Yen was up by 0.45% to ¥106.11 against the U.S Dollar Out of China The Caixin services PMI stood at 51.6 in July, falling from 52.0 in June to the lowest level in 5-months. Job creation across the services sector was modest as firms looked to manage costs in a softer business activity growth environment. Across the Pond It’s a relatively busy for the Greenback, with key stats due out of the U.S including finalized Markit services and composite PMIs and the market’s preferred ISM non-manufacturing PMI. | Economic data through the session included Japan and China service sector PMI numbers for July. For the Pound It’s a relatively quiet day ahead on the data front, with July services PMI numbers to provide the Pound with direction. Across the Pond It’s a relatively busy for the Greenback, with key stats due out of the U.S including finalized Markit services and composite PMIs and the market’s preferred ISM non-manufacturing PMI. | Economic data through the session included Japan and China service sector PMI numbers for July. At the time of writing, the Japanese Yen was up by 0.45% to ¥106.11 against the U.S Dollar Out of China The Caixin services PMI stood at 51.6 in July, falling from 52.0 in June to the lowest level in 5-months. For the Pound It’s a relatively quiet day ahead on the data front, with July services PMI numbers to provide the Pound with direction. | For the Japanese Yen The service sector PMI fell from 51.9 to 51.8 in July, which came short of a forecasted increase to 52.3. At the time of writing, the Japanese Yen was up by 0.45% to ¥106.11 against the U.S Dollar Out of China The Caixin services PMI stood at 51.6 in July, falling from 52.0 in June to the lowest level in 5-months. Outside of the numbers, market risk sentiment towards the U.S – China trade war will also be a factor on the day. | 74d5c5a0-eb8c-47b4-bb7a-29db15f2abd5 |
709203.0 | 2019-07-31 00:00:00 UTC | Where will the USD go today? | DBO | https://www.nasdaq.com/articles/where-will-the-usd-go-today-2019-07-31 | nan | nan | FXEmpire.com -
Regardless of the final number, we can expect a higher volatility. For those excited about the big movements on the USD, we have two setups with the American Dollar in them.
First one is the USDCHF, where the price action is suggesting us an upswing. Pair bounced from the horizontal support on the 0.97 and created an inverse head and shoulders pattern. Last week finished with the breakout of the neckline and the mid-term down trendline. This week, started with the correction but it does not change the positive sentiment that was triggered on the last Thursday. As long as we are above the neckline, the buy signal is ON.
Next instrument is Brent Oil, where we are still waiting for a proper trading signal. The price is still locked in the symmetric triangle pattern. The way to trade this is pretty simple. You buy, when the price will break the upper line of the triangle and sell, when the price will break the lower line of this pattern. As for now, traders need to be patient.
Last instrument is an exotic pair – EURPLN. Setup here is quite similar to this one on the USDCHF. We do have an inverse head and shoulders pattern, with the neckline, which was already broken. Today, we do have a small drop but the bullish momentum is still very strong and the price should be aiming higher again in the nearest future.
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Pair bounced from the horizontal support on the 0.97 and created an inverse head and shoulders pattern. Today, we do have a small drop but the bullish momentum is still very strong and the price should be aiming higher again in the nearest future. This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis This article was originally posted on FX Empire More From FXEMPIRE: China Trade Data and a Weaker Yuan Set the Tone Early Natural Gas Price Prediction – Prices Consolidate Ahead of EIA Inventory Report E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Will Sellers Stop Short-Covering Rally on Test of 26215 – 26494? | Pair bounced from the horizontal support on the 0.97 and created an inverse head and shoulders pattern. As long as we are above the neckline, the buy signal is ON. We do have an inverse head and shoulders pattern, with the neckline, which was already broken. | You buy, when the price will break the upper line of the triangle and sell, when the price will break the lower line of this pattern. We do have an inverse head and shoulders pattern, with the neckline, which was already broken. This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis This article was originally posted on FX Empire More From FXEMPIRE: China Trade Data and a Weaker Yuan Set the Tone Early Natural Gas Price Prediction – Prices Consolidate Ahead of EIA Inventory Report E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Will Sellers Stop Short-Covering Rally on Test of 26215 – 26494? | As long as we are above the neckline, the buy signal is ON. Next instrument is Brent Oil, where we are still waiting for a proper trading signal. Setup here is quite similar to this one on the USDCHF. | 1b16cb47-a3d9-497b-bd57-00f009f0edcb |
709204.0 | 2019-07-29 00:00:00 UTC | Geopolitical Risk and Sentiment towards Monetary Policy the Key Drivers | DBO | https://www.nasdaq.com/articles/geopolitical-risk-and-sentiment-towards-monetary-policy-the-key-drivers-2019-07-29 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was another quiet Asian session this morning, with Japan’s June retail sales figures the only stats to provide direction in the early hours.
Outside of the stats, the markets responded further to U.S 2nd quarter GDP numbers from Friday as the U.S – China trade talks resumed.
Sentiment towards Iran was also a factor, as Britain and the U.S look to ease tensions.
For the Japanese Yen
According to the Ministry of Economy, Trade, and Industry, retail sales rose by 0.5% in June, which came in ahead of a forecasted 0.2%. Sales had risen by 1.3% in May.
The Japanese Yen moved from ¥108.607 to ¥108.633 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.11% to ¥108.56 against the U.S Dollar.
Elsewhere
At the time of writing, the Aussie Dollar was down by 0.07% to $0.6906, while the Kiwi Dollar was down by 0.11% to $0.6629.
In the Asian equity markets, it was a mixed bag for the majors. The Hang Seng led the way down, falling by 1.43%. The Nikkei and CSI300 also saw red, with falls of 0.43% and 0.18% respectively as trade talks resume. Bucking the trend was the ASX200, which rose by 0.5%.
The Day Ahead:
For the EUR
It’s a quiet day ahead for the EUR, with Spain’s prelim July inflation numbers due out later this morning. With the ECB focused on consumption and labor market conditions to support the economy, inflation would need to materially accelerate to question the ECB’s dovish stance on monetary policy.
On the geopolitical front, sentiment towards trade talks between the U.S and China and updates from Iran will also influence.
At the time of writing, the EUR was down by 0.01% to $1.1126.
For the Pound
Economic data is limited to house price figures due out later this morning that will unlikely to have an impact on the Pound.
With the stats on the lighter side, Brexit chatter, updates from the U.S – China trade talks and Iran will be of influence.
Boris Johnson had told Merkel and Macron that Brexit talks are on hold until the backstop requirement has been removed. While Johnson’s comments will have ruffled the EU’s feathers, the more hardline, Trump-like approach would certainly garner some support. Members of the Tory party in favor of remaining in the EU would have felt bruised, however. But, as Theresa May has learned, it is almost impossible to appease both sides of the Brexit camp… For the Pound, Johnson’s stance on the backstop is negative.
We would expect risk aversion to also be negative for the Pound on the day.
At the time of writing, the Pound was down by 0.15% to $1.2366.
Across the Pond
There are no material stats due out later today to provide the Greenback with direction. A lack of stats will leave the Dollar in the hands of the U.S – China trade talks that resume this week.
Following better than expected stats last week and a pickup in the Greenback, rising tensions in the Middle East would also be a boost for the Dollar.
At the time of writing, the Dollar Spot Index was down by 0.01% to 98.00.
For the Loonie
It’s a quiet start to the week, with no material stats due out of Canada until Wednesday. The lack of stats continues to leave the Loonie in the hands of crude oil prices and market risk sentiment.
The Loonie was down by 0.08% at C$1.3176, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: It was another quiet Asian session this morning, with Japan’s June retail sales figures the only stats to provide direction in the early hours. For the Japanese Yen According to the Ministry of Economy, Trade, and Industry, retail sales rose by 0.5% in June, which came in ahead of a forecasted 0.2%. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets continue to look soft Asia Shares Lower; China Factory Output Contracts; Steady Aussie CPI Eases Pressure on RBA US Stock Market Overview – Stocks Slide Ahead of Fed Meeting The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: It was another quiet Asian session this morning, with Japan’s June retail sales figures the only stats to provide direction in the early hours. A lack of stats will leave the Dollar in the hands of the U.S – China trade talks that resume this week. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets continue to look soft Asia Shares Lower; China Factory Output Contracts; Steady Aussie CPI Eases Pressure on RBA US Stock Market Overview – Stocks Slide Ahead of Fed Meeting The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With the stats on the lighter side, Brexit chatter, updates from the U.S – China trade talks and Iran will be of influence. A lack of stats will leave the Dollar in the hands of the U.S – China trade talks that resume this week. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets continue to look soft Asia Shares Lower; China Factory Output Contracts; Steady Aussie CPI Eases Pressure on RBA US Stock Market Overview – Stocks Slide Ahead of Fed Meeting The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen According to the Ministry of Economy, Trade, and Industry, retail sales rose by 0.5% in June, which came in ahead of a forecasted 0.2%. With the stats on the lighter side, Brexit chatter, updates from the U.S – China trade talks and Iran will be of influence. A lack of stats will leave the Dollar in the hands of the U.S – China trade talks that resume this week. | a4c38a1f-2b17-46ad-89ee-6eed161f0b94 |
709205.0 | 2019-07-26 00:00:00 UTC | U.S GDP Numbers, Corporate Earnings and Trade War Chatter in Focus | DBO | https://www.nasdaq.com/articles/u.s-gdp-numbers-corporate-earnings-and-trade-war-chatter-in-focus-2019-07-26 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was another quiet Asian session this morning, with Tokyo’s July inflation numbers the only stats to provide direction in the early hours.
Outside of the stats, the markets responded further to the ECB’s monetary policy decision on Thursday and corporate earnings results.
For the Japanese Yen
Tokyo’s core annual rate of inflation held steady at 0.9% in July, coming in ahead of a forecasted 0.8%. According to consumer price figures released by the Ministry of Internal Affairs and Communication,
Prices for transportation and communication fell by 1.1%, the only drag on inflation in July.
Providing support were increased in prices for fuel, light and water charges (+2.8%) and for furniture and household goods (+2.6%).
Prices for culture and recreation (+1.4%) and for clothes and footwear (+1.2%) also contributed.
The Japanese Yen moved from ¥108.644 to ¥108.671 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.01% to ¥108.64 against the U.S Dollar.
Elsewhere
At the time of writing, the Aussie Dollar was down by 0.13% to $0.6942, while the Kiwi Dollar was down by 0.14% to $0.6655.
In the Asian equity markets, it was a mixed bag for the majors. The Nikkei and ASX200 fell by 0.48% and by 0.27% respectively. At the time of writing, the Hang Seng was down by 0.43%, while CSI300 bucked the trend, rising by 0.16%
The Day Ahead:
For the EUR
It’s a quiet day ahead for the EUR, with no material stats due out of the Eurozone.
A lack of stats will leave the markets to consider Thursday’s ECB monetary policy decision, forward guidance and what lies ahead for the FED.
On the geopolitical front, market sentiment towards next week’s trade talks, Iran and Corporate earnings will also be a factor.
At the time of writing, the EUR was down by 0.01% to $1.1146.
For the Pound
There are no material stats due out today, leaving the Pound firmly in the hands of Brexit.
With the UK Parliament in summer recess, sentiment towards Brexit, the new British PM, and BoE monetary policy will be the key drivers.
At the time of writing, the Pound was down by 0.18% to $1.2435.
Across the Pond
While it’s a relatively quiet day ahead, 2nd estimate GDP numbers due out of the U.S will have an impact. Forecasts are for a sharp downward revision from 1st estimates that could raise the stakes for a higher than priced in FED rate cut.
Outside of the stats, there’s also Trump and the U.S – China trade war to consider and Iran.
At the time of writing, the Dollar Spot Index was down by 0.01% to 97.805.
For the Loonie
It’s another quiet day ahead, with no material stats due out of Canada. The lack of stats continues to leave the Loonie in the hands of crude oil prices.
As central banks become more dovish, some more than others, will the Bank of Canada join in…
The Loonie was up by 0.02% at C$1.3162, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: It was another quiet Asian session this morning, with Tokyo’s July inflation numbers the only stats to provide direction in the early hours. For the Japanese Yen Tokyo’s core annual rate of inflation held steady at 0.9% in July, coming in ahead of a forecasted 0.8%. A lack of stats will leave the markets to consider Thursday’s ECB monetary policy decision, forward guidance and what lies ahead for the FED. | A lack of stats will leave the markets to consider Thursday’s ECB monetary policy decision, forward guidance and what lies ahead for the FED. The lack of stats continues to leave the Loonie in the hands of crude oil prices. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast – Crude oil markets continue to grind Silver Price Forecast – Silver markets continue to grind US Stock Market Overview – Stocks Slide Ahead of Fed Meeting The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Hang Seng was down by 0.43%, while CSI300 bucked the trend, rising by 0.16% The Day Ahead: For the EUR It’s a quiet day ahead for the EUR, with no material stats due out of the Eurozone. A lack of stats will leave the markets to consider Thursday’s ECB monetary policy decision, forward guidance and what lies ahead for the FED. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast – Crude oil markets continue to grind Silver Price Forecast – Silver markets continue to grind US Stock Market Overview – Stocks Slide Ahead of Fed Meeting The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Japanese Yen was down by 0.01% to ¥108.64 against the U.S Dollar. For the Loonie It’s another quiet day ahead, with no material stats due out of Canada. The lack of stats continues to leave the Loonie in the hands of crude oil prices. | 05063f1e-a51c-4dcf-afbe-da9adad5e1f2 |
709206.0 | 2019-07-25 00:00:00 UTC | Draghi and the ECB Put the EUR in the Spotlight | DBO | https://www.nasdaq.com/articles/draghi-and-the-ecb-put-the-eur-in-the-spotlight-2019-07-25 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was another quiet Asian session this morning, with no material stats to provide direction through the early part of the day.
A lack of stats left the markets to respond further to the outcome of the UK leadership race and to corporate earnings.
The markets also prepared for today’s ECB monetary policy decision and press conference, where Draghi et al are expected to cut rates and pin back the EUR.
For the Majors
At the time of writing, the Japanese Yen was up by 0.07% to ¥108.11 against the U.S Dollar. The Aussie Dollar was down by 0.11% to $0.7070, with the Kiwi Dollar down by 0.13% to $0.6696.
In the Asian equity markets, the majors found support early on. The ASX200 led the way with a 0.61% gain on the day, with the Nikkei ending the day up by 0.22%. At the time of writing, the CSI300 and Hang Seng were up by 0.46% and by 0.30% respectively.
The Day Ahead:
For the EUR
It’s a particularly busy day ahead for the EUR, with key stats due out including Germany’s IFO Business Climate figures. Jobseeker numbers out of France will have less influence on the day.
While we can expect the IFO numbers to have an impact, the key driver will be the ECB monetary policy statement and press conference.
The ECB avoided jawboning the EUR last month, but with the FED about to cut interest rates, Draghi is expected to deliver further easing later today.
Trade continues to be an issue and Germany’s manufacturing sector has been in contraction throughout the year. With China’s economy slowing and the U.S – China trade war ongoing, central banks will have just cause to follow the FED’s moves.
From outside of the Eurozone, the result of the UK leadership race will also influence. The Boris Johnson victory is expected to raise the prospects of a no-deal Brexit that would also be a negative for the EUR.
At the time of writing, the EUR was down by 0.04% to $1.1135.
For the Pound
There are no material stats due out today, leaving the Pound firmly in the hand of the UK Parliament.
Any chatter from the new British Prime Minister Boris Johnson will have an impact on the day.
At the time of writing, the Pound was down by 0.06% to $1.2476.
Across the Pond
It’s a relatively busy day ahead. Key stats due out of the U.S include June durable goods orders and the weekly jobless claims figures.
While we would expect the core durable goods orders to be the key driver, the Dollar would be more sensitive to the jobless claims figures. We’ve got the FED interest rate decision and nonfarm payrolls next week. Any unexpected jump in claims would weigh more heavily than normal on the Greenback.
Outside of the stats, there’s also Trump and the U.S – China trade war to consider and Iran.
At the time of writing, the Dollar Spot Index was down 0.01% at 97.723.
For the Loonie
It’s yet another quiet day ahead, with no material stats due out of Canada. A lack of stats continues to leave the Loonie in the hands of crude oil prices.
Monetary policy easing by the likes of the ECB and FED in support of growth would support crude oil prices.
The Loonie was up 0.08% at C$1.3132, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The markets also prepared for today’s ECB monetary policy decision and press conference, where Draghi et al are expected to cut rates and pin back the EUR. The ECB avoided jawboning the EUR last month, but with the FED about to cut interest rates, Draghi is expected to deliver further easing later today. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast – Australian dollar continues to fail Gold Price Forecast – Gold markets continue to flex muscles Asia Shares Lower; China Factory Output Contracts; Steady Aussie CPI Eases Pressure on RBA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s a particularly busy day ahead for the EUR, with key stats due out including Germany’s IFO Business Climate figures. Key stats due out of the U.S include June durable goods orders and the weekly jobless claims figures. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast – Australian dollar continues to fail Gold Price Forecast – Gold markets continue to flex muscles Asia Shares Lower; China Factory Output Contracts; Steady Aussie CPI Eases Pressure on RBA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: It was another quiet Asian session this morning, with no material stats to provide direction through the early part of the day. The Day Ahead: For the EUR It’s a particularly busy day ahead for the EUR, with key stats due out including Germany’s IFO Business Climate figures. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast – Australian dollar continues to fail Gold Price Forecast – Gold markets continue to flex muscles Asia Shares Lower; China Factory Output Contracts; Steady Aussie CPI Eases Pressure on RBA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s a particularly busy day ahead for the EUR, with key stats due out including Germany’s IFO Business Climate figures. At the time of writing, the EUR was down by 0.04% to $1.1135. For the Loonie It’s yet another quiet day ahead, with no material stats due out of Canada. | f9b493c3-1442-41b3-ac6f-1058798c227c |
709207.0 | 2019-07-23 00:00:00 UTC | The UK Leadership Race Puts the Pound in the Spotlight | DBO | https://www.nasdaq.com/articles/the-uk-leadership-race-puts-the-pound-in-the-spotlight-2019-07-23 | nan | nan | FXEmpire.com -
Earlier in the Day:
It’s yet another particularly quiet day on theeconomic calendar with no material stats released through the Asian session.
A lack of stats left the majors on the defensive, with the Dollar finding support on bets that the FED would cut rates by a smaller amount than had been hoped.
Geopolitical risk added further support for the Greenback through the morning, with the Theresa May’s replacement due to be announced. There’s also hopes of progress on the U.S – China trade talks to factor in.
For the Asian Majors
At the time of writing, the Japanese Yen was down by 0.18% to ¥108.06 against the U.S Dollar. The Kiwi Dollar was down by 0.37% to $0.6734, with the Aussie Dollar down by 0.18% to $0.7023.
In the Asian equity markets, it was a mixed bag for the majors early on. The Nikkei led the way up, with a 1.05% gain at the time of writing. The ASX200 and Hang Seng were also in positive territory, up by 0.51% and 0.11% respectively. The CSI300 bucked the trend early on, falling by 0.11%.
The Day Ahead:
For the EUR
It’s also a quiet another quiet day ahead, with no material stats due out of the Eurozone. A lack of stats will continue to leave geopolitical risk to provide direction on the day.
Rising tension in the Middle East and a Boris Johnson win in the UK leadership race would be considered negatives for the EUR.
At the time of writing, the EUR was down by 0.14% to $1.1193.
For the Pound
Economic data is limited to July’s CBI Industrial Trend Orders. Barring impressive numbers, the Pound will remain in the hands of UK Parliament.
The new leader of the Conservative Party and the British Prime Minister will be announced later today and will influence the Pound.
Outsider Jeremy Hunt would be considered the most favorable outcome for the Pound. Boris Johnson will do his best to take Britain out of the EU by 31st October, deal or no deal…
At the time of writing, the Pound was down by 0.14% to $1.2458.
Across the Pond
Existing home sales figures are due out later today. While the Dollar will react to any particularly dire numbers, the focus will remain on Trump and FED monetary policy.
There’s plenty for the markets to consider at present, including but not limited to, Iran, Trade and FED monetary policy.
At the time of writing, the Dollar Spot Index was up by 0.19% to 97.438. The Dollar found early support from expectations of a smaller rate cut next week.
For the Loonie
It’s a quiet day ahead, with no material stats due out of Canada. A lack of stats leaves the Loonie in the hands of crude oil prices.
The Loonie was down 0.11% at C$1.3134, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A lack of stats left the majors on the defensive, with the Dollar finding support on bets that the FED would cut rates by a smaller amount than had been hoped. Rising tension in the Middle East and a Boris Johnson win in the UK leadership race would be considered negatives for the EUR. This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast – British pound continues to fall against Japanese yen Crude Oil Price Forecast – Crude oil markets continue to grind Natural Gas Price Forecast – Natural gas markets continue to look soft The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s also a quiet another quiet day ahead, with no material stats due out of the Eurozone. A lack of stats leaves the Loonie in the hands of crude oil prices. This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast – British pound continues to fall against Japanese yen Crude Oil Price Forecast – Crude oil markets continue to grind Natural Gas Price Forecast – Natural gas markets continue to look soft The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A lack of stats left the majors on the defensive, with the Dollar finding support on bets that the FED would cut rates by a smaller amount than had been hoped. The Day Ahead: For the EUR It’s also a quiet another quiet day ahead, with no material stats due out of the Eurozone. This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast – British pound continues to fall against Japanese yen Crude Oil Price Forecast – Crude oil markets continue to grind Natural Gas Price Forecast – Natural gas markets continue to look soft The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Asian Majors At the time of writing, the Japanese Yen was down by 0.18% to ¥108.06 against the U.S Dollar. The CSI300 bucked the trend early on, falling by 0.11%. A lack of stats will continue to leave geopolitical risk to provide direction on the day. | d96cc443-c5df-4cdc-8e81-ccc6c15043ee |
709208.0 | 2019-07-18 00:00:00 UTC | Stats, Trade, Brexit and Corporate Earnings to Influence on the Day | DBO | https://www.nasdaq.com/articles/stats-trade-brexit-and-corporate-earnings-to-influence-on-the-day-2019-07-19 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released during the Asian session this morning on the lighter side. Key stats included Japan’s June inflation numbers.
For the Japanese Yen
The annual rate of core inflation came in at 0.6% in June, which was in line with a forecasted 0.6%, whilst down from 0.8% in May.
The Japanese Yen moved from ¥107.397 to ¥107.385 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.21% to ¥107.53 against the U.S Dollar.
Elsewhere
At the time of writing, the Kiwi Dollar was down by 0.01% to $0.6782, with the Aussie Dollar down by 0.07% to $0.7070.
The pair failed to find support in spite of the upward momentum in the Asian equity markets and dovish FOMC chatter. Comments from the NY FED provided support for U.S Treasury yields early on.
In the Asian equity markets, the majors found support early on. The Nikkei led the way up, with a 1.66% gain at the time of writing. The Hang Seng and CSI300 weren’t far behind, the pair were up by 1.08% and 1.54% respectively. The ASX200 trailed the Asian majors, rising by 0.81%.
A combination of positive economic data out of the U.S and hopes of a near-term FED rate cut provided support early. FED messages were mixed, however. While FED Chair Williams stated that the FED should cut rates at the first sign of trouble, the NY FED looked to soften the effect of Williams’s comments.
The Day Ahead:
For the EUR
It’s a quiet day ahead on the economic calendar. German wholesale inflation figures will provide direction to the EUR in the early part of the session.
While we can expect the EUR to react, geopolitical risk and economic data out of the U.S will also provide direction on the day.
At the time of writing, the EUR was down by 0.12% to $1.1263.
For the Pound
It’s also a quiet day ahead on the economic calendar. With no material stats due out of the UK, the market focus will be on UK politics.
The markets will learn who will lead Britain out of the EU next week. Any chatter on Brexit through the day will influence. We can also expect the markets to consider the stats through the week and what lies ahead on the monetary policy front.
For now, hopes of the EU being willing to renegotiate the backstop part of the Brexit deal has been the Pound’s ally.
At the time of writing, the Pound was down by 0.02% to $1.2546.
Across the Pond
Prelim July consumer sentiment and expectations figures are due out later today. Expect the Dollar to be responsive to the numbers.
Consumer confidence is key, with any deterioration signaling a possible cut back in domestic consumption.
Outside of the numbers, chatter from the Oval Office will also need to be considered on the day.
At the time of writing, the Dollar Spot Index was flat at 96.795.
For the Loonie
It’s a busier day ahead, with key stats due out of Canada later today including May retail sales figures.
The Loonie will be particularly sensitive to today’s numbers, with any weak figures likely to shift sentiment towards BoC monetary policy.
Outside of the numbers, market risk sentiment and influence on crude oil prices will also provide direction on the day.
The Loonie was down 0.02% at C$1.3030, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The pair failed to find support in spite of the upward momentum in the Asian equity markets and dovish FOMC chatter. For the Loonie It’s a busier day ahead, with key stats due out of Canada later today including May retail sales figures. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Recap – Cable Woes over EU’s Updated Financial Market Access Post Brexit Crude Oil Price Forecast – Crude Oil Markets continue to levitate USD/JPY Price Forecast – US dollar recovers after initially selling off against yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A combination of positive economic data out of the U.S and hopes of a near-term FED rate cut provided support early. Outside of the numbers, market risk sentiment and influence on crude oil prices will also provide direction on the day. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Recap – Cable Woes over EU’s Updated Financial Market Access Post Brexit Crude Oil Price Forecast – Crude Oil Markets continue to levitate USD/JPY Price Forecast – US dollar recovers after initially selling off against yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s a quiet day ahead on the economic calendar. Outside of the numbers, market risk sentiment and influence on crude oil prices will also provide direction on the day. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Recap – Cable Woes over EU’s Updated Financial Market Access Post Brexit Crude Oil Price Forecast – Crude Oil Markets continue to levitate USD/JPY Price Forecast – US dollar recovers after initially selling off against yen The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Expect the Dollar to be responsive to the numbers. For the Loonie It’s a busier day ahead, with key stats due out of Canada later today including May retail sales figures. Outside of the numbers, market risk sentiment and influence on crude oil prices will also provide direction on the day. | 7c5e7082-fe79-49da-97fc-23729451919b |
709209.0 | 2019-07-18 00:00:00 UTC | Stats, Corporate Earnings and Trade War Chatter in Focus | DBO | https://www.nasdaq.com/articles/stats-corporate-earnings-and-trade-war-chatter-in-focus-2019-07-18 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released during the Asian session this morning was on the busier side. Key stats included Japan’s June trade figures and Australia’s June employment numbers. The National Bank of Australia also released its quarterly business confidence survey results.
For the Japanese Yen
Japan’s trade balance recovered from a ¥968.3bn deficit to a ¥589.5 surplus in June. Economists had forecast a surplus of ¥420bn.
According to figures released by the Ministry of Finance,
Exports fell by 6.7% compared with June 2018, while imports fell by 5.2% over the same period.
Exports to Asia fell by 8.2%, with a 10.1% fall in exports to China and 14.8% fall in exports to R Korea doing the damage.
To Europe, an 8.2% fall in exports to Germany and 5.2% fall in exports to the Netherlands saw exports to Europe fall by 9.4%.
Exports to the U.S rose by 4.8% and by 4.1% to Canada.
The Japanese Yen moved from ¥107.943 to ¥107.945 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.24% to ¥107.69 against the U.S Dollar.
For the Aussie Dollar
June employment figures provided the Aussie Dollar with direction in the early hours. According to figures released by the ABS,
Employment increased by 26,300 persons in employment in June.
There was a net increase of 15,000 persons in full-time employment, while there was an 11,300 increase in part-time employment.
Year-on-year, full-time employment increased by 248,900 persons, while part-time employment increased by 79,000 persons.
The unemployment rate held steady at 5.2%, which was in line with forecast.
Seasonally adjusted, the participation rate also held steady at 66.0%.
The NAB’s Quarterly Business Confidence Index increased from 0 to +6 in the 2nd quarter. According to the latest survey,
The sub-indexes for sentiment towards conditions over the next 3-months fell from 14 to 12. The sentiment towards the next 12-months sub-index rose from 22 to 23.
CAPEX intentions over the next 12-months increased from 22 to 24.
The profitability sub-index fell from -1 to -4, with the forward orders sub-index falling from -2 to -3.
The exports sub-index remained unchanged at zero.
On the employment front, the sub-index fell from 7 to 4. Employment expectations over next 3-months fell from 9 to 5, with the employment expectations sub-index for next 12-months falling from 19 to 16.
.While the business confidence index showed some improvement, the business conditions index fell from 4 to 1.
The Aussie Dollar moved from $0.0.7012 to $0.70194 upon release of the figures. At the time of writing, the Aussie Dollar up by 0.34% to $0.7034.
Elsewhere
At the time of writing, the Kiwi Dollar was up by 0.19% to $0.6744.
The Day Ahead:
For the EUR
It’s a quiet day ahead on the economic calendar. With no material stats due out on the day, the focus will be on Philly FED manufacturing PMI numbers due out of the U.S later today.
Outside of the stats, market sentiment towards the U.S economy and updates from the U.S – China trade talks will also be in focus.
At the time of writing, the EUR was up by 0.13% to $1.1239.
For the Pound
It’s another big day ahead, with the UK’s retail sales figures due out later this morning.
Following particularly disappointing BRC retail sales figures the numbers will need to impress to support the Pound.
Outside of the numbers, the result of the Conservative Party leadership race is just around the corner. Any chatter from Parliament will also need to be considered
At the time of writing, the Pound was up by 0.06% to $1.2441.
Across the Pond
July’s Philly FED Manufacturing figures are due out later this morning. We can expect the Dollar to be sensitive to the numbers.
Barring particularly dire numbers, we expect the weekly jobless claims figures to have a muted impact on the Dollar.
Outside of the numbers, chatter from the Oval Office will also need to be considered on the day along with corporate earnings.
At the time of writing, the Dollar Spot Index was down by 0.13% to 97.097.
For the Loonie
It’s a quiet day ahead, with no material stats due out of Canada later today.
A lack of stats leaves the crude oil prices and market risk sentiment to provide direction on the day.
The Loonie was up 0.01% at C$1.3053, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Barring particularly dire numbers, we expect the weekly jobless claims figures to have a muted impact on the Dollar. A lack of stats leaves the crude oil prices and market risk sentiment to provide direction on the day. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction -Gold Edges Higher Despite Solid GDP S&P 500 Weekly Price Forecast – Stock markets continue sideways grind R-Word Index, Google Trends and Gold The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats included Japan’s June trade figures and Australia’s June employment numbers. For the Aussie Dollar June employment figures provided the Aussie Dollar with direction in the early hours. Year-on-year, full-time employment increased by 248,900 persons, while part-time employment increased by 79,000 persons. | For the Aussie Dollar June employment figures provided the Aussie Dollar with direction in the early hours. According to figures released by the ABS, Employment increased by 26,300 persons in employment in June. Employment expectations over next 3-months fell from 9 to 5, with the employment expectations sub-index for next 12-months falling from 19 to 16. | Employment expectations over next 3-months fell from 9 to 5, with the employment expectations sub-index for next 12-months falling from 19 to 16. For the Pound It’s another big day ahead, with the UK’s retail sales figures due out later this morning. Any chatter from Parliament will also need to be considered At the time of writing, the Pound was up by 0.06% to $1.2441. | b3f88ab6-a104-46c7-bf46-38258960a7e2 |
709210.0 | 2019-07-12 00:00:00 UTC | The Greenback is on the Back Foot as the Markets Await China Trade Data | DBO | https://www.nasdaq.com/articles/the-greenback-is-on-the-back-foot-as-the-markets-await-china-trade-data-2019-07-12 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was another relatively busy Asian session this morning. Key stats including New Zealand business PMI and finalized industrial production figures out of Japan. Later in the day, China trade is also due out.
Outside of the stats, the markets reacted further to FED Chair Powell’s testimony to Congress on Thursday and updates from the U.S – China trade talks.
For the Kiwi Dollar
The Business PMI increased from 50.2 to $51.3 in June, falling short of a forecasted rise to 53.1. According to the latest PMI survey,
The production and new orders sub-indexes recovered, while the employment sub-index hit its lowest level since Aug-16.
Looking at the sub-indexes,
The production sub-index bounced back from 46.8 to 51.0, with the new orders sub-index rising from 50.7 to 52.8.
Finished stocks were also on the rise, with the sub-index up from 56.8 to 57.6.
The employment sub-index fell from 48.5 to 48.0, with the deliveries sub-index falling from 51.2 to 48.9.
Optimism was also on the slide, with just 42.9% of those surveyed delivering positive comments, down from 54.3% in May.
The Kiwi Dollar moved from $ 0.66641to $0.66636 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.35% to $0.6684.
For the Japanese Yen
According to finalized figures released by Ministry of Economy, Trade, and Industry, industrial production rose by 2% in May. The finalized number came up short of a prelim and forecasted 2.3% rise.
The Japanese Yen moved from ¥108.391 to ¥108.363 upon release of the data. At the time of writing, the Japanese Yen was up by 0.14% to ¥108.35 against the U.S Dollar.
Elsewhere
At the time of writing, the Aussie Dollar was up by 0.33% to $0.6997, as the markets awaited trade data out of China.
The Day Ahead:
For the EUR
It’s a relatively busy day ahead on theeconomic calendar Finalized Spanish inflation figures for June are due out ahead of the Eurozone’s industrial production figures for May. Barring any revisions to Spain’s inflation numbers, the focus will be on industrial production.
Outside of the stats, geopolitical risk could also influence on the day…
At the time of writing, the EUR was up by 0.14% to $1.1270.
For the Pound
It’s a quiet day ahead on theeconomic calendar leaving Brexit and the leadership race on focus.
At the time of writing, the Pound was up 0.18% to $1.2543.
Across the Pond
As the dust settles from FED Chair Powell’s 2-days of testimony, wholesale inflation figures for June are due out later today.
We can expect the Dollar to be sensitive to the numbers.
Outside of the numbers, chatter from the Oval Office will also need to be considered on the day.
At the time of writing, the Dollar Spot Index was down by 0.13% to 96.922.
For the Loonie
There are no material stats due out, leaving the Loonie in the hands of market risk appetite.
On the crude oil front, the IEA’s monthly report will also influence…
The Loonie was up by 0.28% to C$1.3036, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Outside of the stats, the markets reacted further to FED Chair Powell’s testimony to Congress on Thursday and updates from the U.S – China trade talks. Across the Pond As the dust settles from FED Chair Powell’s 2-days of testimony, wholesale inflation figures for June are due out later today. This article was originally posted on FX Empire More From FXEMPIRE: Grains Down Amid Cooler Weather in US, but Heatwave Looms in Europe S&P 500 Price Forecast – Stock markets quiet on Monday Gold Price Futures (GC) Technical Analysis – July 22, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats including New Zealand business PMI and finalized industrial production figures out of Japan. The Day Ahead: For the EUR It’s a relatively busy day ahead on theeconomic calendar Finalized Spanish inflation figures for June are due out ahead of the Eurozone’s industrial production figures for May. Across the Pond As the dust settles from FED Chair Powell’s 2-days of testimony, wholesale inflation figures for June are due out later today. | Looking at the sub-indexes, The production sub-index bounced back from 46.8 to 51.0, with the new orders sub-index rising from 50.7 to 52.8. Elsewhere At the time of writing, the Aussie Dollar was up by 0.33% to $0.6997, as the markets awaited trade data out of China. The Day Ahead: For the EUR It’s a relatively busy day ahead on theeconomic calendar Finalized Spanish inflation figures for June are due out ahead of the Eurozone’s industrial production figures for May. | Later in the day, China trade is also due out. Elsewhere At the time of writing, the Aussie Dollar was up by 0.33% to $0.6997, as the markets awaited trade data out of China. The Day Ahead: For the EUR It’s a relatively busy day ahead on theeconomic calendar Finalized Spanish inflation figures for June are due out ahead of the Eurozone’s industrial production figures for May. | cceecf35-65bb-48f5-9bda-3a9cbd52ed72 |
709211.0 | 2019-07-10 00:00:00 UTC | Predictive Modeling Suggest Oil Headed Much Lower | DBO | https://www.nasdaq.com/articles/predictive-modeling-suggest-oil-headed-much-lower-2019-07-10 | nan | nan | FXEmpire.com -
Our Adaptive Dynamic Learning (ADL) predictive price modeling system is suggesting Crude Oil will likely continue to find resistance near $64 as a price ceiling and trend lower over the next 3 to 5 months – eventually breaking below the $40 price level near the end of 2019 or in early 2020.
Our research team believes this move could very well be contingent on a continued decline in global economic activity as well as our research suggesting that global currencies could be setting up for a breakdown event.
Please read the following research posts for more information:
Report #1: PART III – DEBT CRISIS TO BE REBORN IN 2020
Report #2: KING DOLLAR RIDES HIGHER CREATING PRESSURES ON FOREIGN ECONOMIES
Report #3: FEAR DRIVES MARKET EXPECTATIONS
We believe the breakdown in support for Crude Oil will coincide with a general perception of global economic weakness, foreign Central Bank posturing and the possibility that foreign currency weakness may push global demand for Oil much lower than current expectations.
The volatility increased suggested near the right side of this chart, in late 2019 and early 2020, are indicative of oil prices reaching a critical support level while attempting to re-balance supply/demand-side economic factors against historic price lows. This will likely become a period where global oil traders feel the need to try to push oil prices higher while supply/demand factors settle to establish a basis price level for future price trends.
IN CONCLUSION:
If our ADL predictive modeling is correct, we will see rotation between $47 and $64 over the next 3+ months before a breakdown in price hits in November 2019. This will be followed by two fairly narrow price range months (December 2019 and January 2020) where oil prices will tighten near $45 to $50. After that tightening, we believe an extremely volatile price move will happen in February through April 2020 that could see oil prices trade as low as $22 and as high as $51 over a two to three-month span.
As we’ve continued to state, 2019 and 2020 are going to include incredible opportunities for skilled technical traders and investors. Think about how a more like this in Oil and the global markets will reflect into the precious metals markets and the US Dollar?
Be prepared for these incredible price swings before they happen and learn how you can identify and trade these fantastic trading opportunities in 2019, 2020, and beyond with our Wealth Building & Global Financial Reset Newsletter. You won’t want to miss this big move, folks. As you can see from our research, everything has been setting up for this move for many months – most traders/investors have simply not been looking for it.
Chris Vermeulen
www.TheTechnicalTraders.com
This article was originally posted on FX Empire
More From FXEMPIRE:
Silver Price Forecast – Silver markets signal eminent pull back
Gold Spikes to Multi-year High after Fed’s Williams Puts 50bps Rate Cut Back in Play
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Please read the following research posts for more information: Report #1: PART III – DEBT CRISIS TO BE REBORN IN 2020 Report #2: KING DOLLAR RIDES HIGHER CREATING PRESSURES ON FOREIGN ECONOMIES Report #3: FEAR DRIVES MARKET EXPECTATIONS We believe the breakdown in support for Crude Oil will coincide with a general perception of global economic weakness, foreign Central Bank posturing and the possibility that foreign currency weakness may push global demand for Oil much lower than current expectations. If our ADL predictive modeling is correct, we will see rotation between $47 and $64 over the next 3+ months before a breakdown in price hits in November 2019. Chris Vermeulen www.TheTechnicalTraders.com This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast – Silver markets signal eminent pull back Gold Spikes to Multi-year High after Fed’s Williams Puts 50bps Rate Cut Back in Play Crude Oil Price Forecast – Crude oil markets continue to struggle in general. | FXEmpire.com - Our Adaptive Dynamic Learning (ADL) predictive price modeling system is suggesting Crude Oil will likely continue to find resistance near $64 as a price ceiling and trend lower over the next 3 to 5 months – eventually breaking below the $40 price level near the end of 2019 or in early 2020. Please read the following research posts for more information: Report #1: PART III – DEBT CRISIS TO BE REBORN IN 2020 Report #2: KING DOLLAR RIDES HIGHER CREATING PRESSURES ON FOREIGN ECONOMIES Report #3: FEAR DRIVES MARKET EXPECTATIONS We believe the breakdown in support for Crude Oil will coincide with a general perception of global economic weakness, foreign Central Bank posturing and the possibility that foreign currency weakness may push global demand for Oil much lower than current expectations. Chris Vermeulen www.TheTechnicalTraders.com This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast – Silver markets signal eminent pull back Gold Spikes to Multi-year High after Fed’s Williams Puts 50bps Rate Cut Back in Play Crude Oil Price Forecast – Crude oil markets continue to struggle in general. | FXEmpire.com - Our Adaptive Dynamic Learning (ADL) predictive price modeling system is suggesting Crude Oil will likely continue to find resistance near $64 as a price ceiling and trend lower over the next 3 to 5 months – eventually breaking below the $40 price level near the end of 2019 or in early 2020. This will likely become a period where global oil traders feel the need to try to push oil prices higher while supply/demand factors settle to establish a basis price level for future price trends. Chris Vermeulen www.TheTechnicalTraders.com This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast – Silver markets signal eminent pull back Gold Spikes to Multi-year High after Fed’s Williams Puts 50bps Rate Cut Back in Play Crude Oil Price Forecast – Crude oil markets continue to struggle in general. | FXEmpire.com - Our Adaptive Dynamic Learning (ADL) predictive price modeling system is suggesting Crude Oil will likely continue to find resistance near $64 as a price ceiling and trend lower over the next 3 to 5 months – eventually breaking below the $40 price level near the end of 2019 or in early 2020. Our research team believes this move could very well be contingent on a continued decline in global economic activity as well as our research suggesting that global currencies could be setting up for a breakdown event. After that tightening, we believe an extremely volatile price move will happen in February through April 2020 that could see oil prices trade as low as $22 and as high as $51 over a two to three-month span. | 73ce0945-fbd9-4d08-b442-6696a2212038 |
709212.0 | 2019-07-07 00:00:00 UTC | German Economic Data to Put the EUR in the Spotlight | DBO | https://www.nasdaq.com/articles/german-economic-data-to-put-the-eur-in-the-spotlight-2019-07-08 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data was on the lighter side through the Asian session this morning. Japan’s factory orders and current account numbers for May provided direction early on.
While the numbers drew attention, the markets also reacted further to Friday’s U.S nonfarm payroll figures.
For the Japanese Yen
Core machinery orders fell by 3.7% in May, year-on-year, which was less than a forecasted 3.9% decline. In April, orders had increased by 2.5%. Month-on-month, orders slid by 7.8%, which was worse than a forecasted 4.7% fall. Orders rose by 5.2% in April. The figures were released by the Cabinet Office.
In May, Japan’s current account surplus narrowed from ¥1.707tn to ¥1.595tn, which was better than a forecasted narrowing to ¥1.385tn.
The Japanese Yen moved from ¥108.50 to ¥108.486 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.06% to ¥108.53 against the U.S Dollar.
Elsewhere
At the time of writing, the Kiwi Dollar was up by 0.11% to $0.6635, while the Aussie Dollar was up by 0.04% to $0.6983.
In the Asian equity markets, the Nikkei was down by 0.71%, with the ASX200 down by 0.84%, the pair under pressure following Friday’s NFP numbers.
The Day Ahead:
For the EUR
It’s a relatively busy day ahead on the economic calendar.
Germany trade and industrial production figures for May will provide direction in the early part of the day.
Factory orders saw 2 consecutive monthly gains in March and April, which should support production in spite of a continued decline in new orders. The latest manufacturing PMI surveys continued to report falling backlogs. The numbers are unlikely to be particularly impressive, however, with the auto sector weakening.
Outside of the numbers, any escalation in the Middle East and updates from the U.S – China trade talks will also need to be considered.
At the time of writing, the EUR was up by 0.01% to $1.1226.
For the Pound
It’s a quiet day ahead, with no material stats due out of the UK today.
The focus will remain on the leadership race ahead of tomorrow’s live televised debate, where Johnson and Hunt go head to head.
Conservative party members will have received their postal ballots and some will have voted ahead of the debate. Any signs of where the support sits will also have an impact.
Any upside for the Pound will be limited as economic indicators begin to flash red following the pre-Brexit activity in the 1st quarter.
At the time of writing, the Pound was up by 0.05% to $1.2527.
Across the Pond
There are no material stats due out of the U.S to provide the Greenback with direction. The markets will be looking ahead to FED Chair Powell’s testimony to Congress on Wednesday. The FED Chair is expected to be grilled on policy and the state of the economy.
Through the latter part of the day, any updates from the Oval Office on trade talks will need to be considered. There’s also Iran to factor in. Any threat of war would provide support for the Dollar.
At the time of writing, the Dollar Spot Index was down by 0.04% to 97.246.
For the Loonie
It’s a quiet day ahead, with no material stats due out of Canada. Any upside for the Loonie will be limited ahead of the Bank of Canada’s interest rate decision on Wednesday.
Crude oil prices and any chatter on Iran will have some influence on the day.
The Loonie was up by 0.06% to C$1.3073, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Germany trade and industrial production figures for May will provide direction in the early part of the day. Any upside for the Pound will be limited as economic indicators begin to flash red following the pre-Brexit activity in the 1st quarter. This article was originally posted on FX Empire More From FXEMPIRE: NZD/USD Forex Technical Analysis – Strengthens Over .6703, Weakens Under .6702 Asia Pacific Shares Finish Week Lower but US Rate Cut Talk Provides Support Natural Gas Price Futures (NG) Technical Analysis – Strengthens Over $2.435, Weakens Under $2.428 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Japan’s factory orders and current account numbers for May provided direction early on. For the Loonie It’s a quiet day ahead, with no material stats due out of Canada. This article was originally posted on FX Empire More From FXEMPIRE: NZD/USD Forex Technical Analysis – Strengthens Over .6703, Weakens Under .6702 Asia Pacific Shares Finish Week Lower but US Rate Cut Talk Provides Support Natural Gas Price Futures (NG) Technical Analysis – Strengthens Over $2.435, Weakens Under $2.428 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s a relatively busy day ahead on the economic calendar. Factory orders saw 2 consecutive monthly gains in March and April, which should support production in spite of a continued decline in new orders. This article was originally posted on FX Empire More From FXEMPIRE: NZD/USD Forex Technical Analysis – Strengthens Over .6703, Weakens Under .6702 Asia Pacific Shares Finish Week Lower but US Rate Cut Talk Provides Support Natural Gas Price Futures (NG) Technical Analysis – Strengthens Over $2.435, Weakens Under $2.428 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Japan’s factory orders and current account numbers for May provided direction early on. The Day Ahead: For the EUR It’s a relatively busy day ahead on the economic calendar. Any threat of war would provide support for the Dollar. | 18d7bfa4-dbc4-44bc-b5c4-22bf6d80e185 |
709213.0 | 2019-07-04 00:00:00 UTC | It’s Nonfarm Payrolls. Will It Be a Green Light for the FED? | DBO | https://www.nasdaq.com/articles/its-nonfarm-payrolls.-will-it-be-a-green-light-for-the-fed-2019-07-05 | nan | nan | FXEmpire.com -
Earlier in the Day:
Theeconomic calendarwas on the lighter side once more through the Asian session this morning.
Japan’s May household spending figures provided direction in the early part of the day.
For the Japanese Yen
Household spending surged by 5.5%, month-on-month, in May, coming in well ahead of a forecasted 1.2% increase. Spending had fallen by 1.4% in April. Year-on-year, household spending humped by 4%, off the back of a 1.3% rise in April. Economists had forecast a 1.4% rise.
According to the Statistic Bureau,
Spending on furniture and household utensils surged by 12.8% year-on-year.
There were also sharp increases in spending on education (+7.8%), fuel, light and water charges (+6.9%), housing (+6.7%), and culture and recreation (+5.2%).
Spending on medical care fell by 0.8%, which was the only negative.
The Japanese Yen moved from ¥107.817 to ¥107.812 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.04% to ¥107.86 against the U.S Dollar.
Elsewhere
At the time of writing, the Kiwi Dollar was up by 0.09% to $0.6693, while the Aussie Dollar was up by 0.10% to $0.7029. The pair found early support ahead of today’s NFP numbers out of the U.S, which could signal a FED rate cut later this month.
In the Asian equity markets, the Nikkei was up by just 0.01% in spite of the jump in household spending and softer Yen. The ASX200 was up by 0.35%. In the futures markets, the U.S majors were in positive territory early on, supporting the Asian markets. The Dow Mini was up by 16 points at the time of writing.
The Day Ahead:
For the EUR
It’s a relatively busy day ahead on theeconomic calendar
Germany factory order and industrial production figures for May will provide direction in the early part of the day.
Forecasts are EUR negative, with factory orders and industrial production forecasted to fall. Germany’s May Manufacturing PMI survey showed that new orders received fell for an 8th consecutive month, supporting the negative forecast.
With orders on the slide and the manufacturing sector in contraction, industrial production figures are unlikely to be too impressive either…
Outside of the numbers, rising tension in the Middle East and any updates from the U.S – China trade talks will also need to be considered.
At the time of writing, the EUR was down by 0.03% to $1.1282.
For the Pound
It’s a quiet day ahead, with house price figures due out in the early part of the day likely to have a muted impact on the Pound.
With Conservative Party members already casting their votes, the focus will be on the leadership race on the day. Members were due to receive their postal ballots by next Tuesday ahead of the 9th July televised debate.
At the time of writing, the Pound was flat at $1.2579.
Across the Pond
It’s a big day for the Greenback. With the markets having priced in a July rate cut, it’s all about the nonfarm payroll and wage growth numbers.
The FED has stated that it would watch employment numbers closely and, following June’s weak figures, another disappointment could see Trump and the markets get their wish…
Outside of the stats, any chatter from the Oval Office on trade and Iran will also need to be considered.
At the time of writing, the Dollar Spot Index was down by 0.01% to 96.757.
For the Loonie
It’s a busy day ahead for the Loonie. June’s employment and Ivey PMI are due out this afternoon. We can expect the Loonie to be particularly sensitive to the numbers ahead of next week’s BoC monetary policy decision.
Outside of the numbers, any threat from the U.S of action against Iran would support crude oil prices and the Loonie.
The Loonie was down 0.02% at C$1.3055, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With orders on the slide and the manufacturing sector in contraction, industrial production figures are unlikely to be too impressive either… Outside of the numbers, rising tension in the Middle East and any updates from the U.S – China trade talks will also need to be considered. The FED has stated that it would watch employment numbers closely and, following June’s weak figures, another disappointment could see Trump and the markets get their wish… Outside of the stats, any chatter from the Oval Office on trade and Iran will also need to be considered. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets rally again on Thursday Gold and Metals Turn Negative Amid Inflation Data and Risk Appetite Crude Oil Price Forecast – Crude oil markets rallied slightly on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s a relatively busy day ahead on theeconomic calendar Germany factory order and industrial production figures for May will provide direction in the early part of the day. Forecasts are EUR negative, with factory orders and industrial production forecasted to fall. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets rally again on Thursday Gold and Metals Turn Negative Amid Inflation Data and Risk Appetite Crude Oil Price Forecast – Crude oil markets rallied slightly on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s a relatively busy day ahead on theeconomic calendar Germany factory order and industrial production figures for May will provide direction in the early part of the day. For the Pound It’s a quiet day ahead, with house price figures due out in the early part of the day likely to have a muted impact on the Pound. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets rally again on Thursday Gold and Metals Turn Negative Amid Inflation Data and Risk Appetite Crude Oil Price Forecast – Crude oil markets rallied slightly on Thursday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen Household spending surged by 5.5%, month-on-month, in May, coming in well ahead of a forecasted 1.2% increase. The Day Ahead: For the EUR It’s a relatively busy day ahead on theeconomic calendar Germany factory order and industrial production figures for May will provide direction in the early part of the day. Outside of the numbers, any threat from the U.S of action against Iran would support crude oil prices and the Loonie. | 82aff27d-931d-4e78-b4d4-7064a4ddff04 |
709214.0 | 2019-06-26 00:00:00 UTC | It’s Risk on with the Markets Hoping for a Resolution to the Trade War | DBO | https://www.nasdaq.com/articles/its-risk-on-with-the-markets-hoping-for-a-resolution-to-the-trade-war-2019-06-27 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data was on the lighter side through the Asian session this morning. Japan retail sales and New Zealand business confidence figures provided direction early on.
Outside of the stats, optimistic chatter from the U.S administration ahead of the G20 provided support for riskier assets to pin back the Yen.
For the Japanese Yen
Retail sales increased by 1.2% in May, month-on-month, which was in line with forecast. Retail sales increase by 0.4% in April.
The Japanese Yen moved from ¥107.726 to ¥107.759 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.20% to ¥108.01 against the U.S Dollar.
For the Kiwi Dollar
The ANZ Business Confidence Index slid from -32 to -38.1 in June. Economists had forecast a rise to -22.
According to the latest ANZ Business survey,
The firms’ views of their own activity fell by 1 point to +8, with the other activity indicators holding relatively steady.
Employment intentions, investment intentions, and capacity utilization were all unchanged at 0, +3 and +5 respectively.
A net 40% of firms expect it to be tough to get credit, down 4 points.
Export intentions rose by 5 points.
Profit expectations fell by 3 points to a net 13% expecting profit to decline.
The Kiwi Dollar moved from $0.66837 to $0.66833 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.01% to $0.6682.
Elsewhere
The Aussie Dollar was up by 0.11% to $0.6993.
The Day Ahead:
For the EUR
It’s a busier day ahead on the economic data front.
Key stats include June prelim inflation figures for Spain and Germany and Eurozone business confidence numbers.
With the ECB willing to step in should inflationary pressures ease, we can expect the EUR to be responsive to the inflation numbers.
Business confidence will also impact the EUR on the day.
Outside of the numbers, we can expect the markets to particularly sensitive to any chatter from the U.S and Beijing ahead of the G20 Summit that kicks off tomorrow.
At the time of writing, the EUR was down by 0.07% to $1.1361.
For the Pound
There are no material stats due out of the UK today to provide direction for the Pound.
The lack of stats will leave chatter from Conservative Party leadership candidates Johnson and Hunt in focus.
At the time of writing, the Pound was down by 0.03% to $1.2686.
Across the Pond
It’s another relatively busy day on the economic calendar.
Finalized 1st quarter GDP figures are due out of the U.S along with the weekly jobless claims figures.
Later in the U.S session, May pending home sales numbers are also due out.
Barring any deviation from 2nd estimates, the weekly jobless claims and pending home sales numbers will likely have the greatest influence.
Outside of the numbers, it’s the eve of the heavily anticipated G20 Summit. Any chatter on trade and/or Iran will have an impact on risk sentiment on the day.
At the time of writing, the Dollar Spot Index was up by 0.07% to 96.281.
For the Loonie
There are no material stats due out of Canada to provide direction.
We can expect crude oil prices to provide direction on the day. Market sentiment towards the economic outlook, rising tensions in the Middle East and the extended trade war remain the key drivers.
The Loonie was down by 0.02% to C$1.3130, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats include June prelim inflation figures for Spain and Germany and Eurozone business confidence numbers. Market sentiment towards the economic outlook, rising tensions in the Middle East and the extended trade war remain the key drivers. This article was originally posted on FX Empire More From FXEMPIRE: The Crypto Daily – The Movers and Shakers 05/07/19 European Equities: Will U.S Non-Farm Payrolls Deliver for the Majors? | For the Japanese Yen Retail sales increased by 1.2% in May, month-on-month, which was in line with forecast. For the Kiwi Dollar The ANZ Business Confidence Index slid from -32 to -38.1 in June. Barring any deviation from 2nd estimates, the weekly jobless claims and pending home sales numbers will likely have the greatest influence. | Japan retail sales and New Zealand business confidence figures provided direction early on. The Day Ahead: For the EUR It’s a busier day ahead on the economic data front. Key stats include June prelim inflation figures for Spain and Germany and Eurozone business confidence numbers. | Japan retail sales and New Zealand business confidence figures provided direction early on. The Day Ahead: For the EUR It’s a busier day ahead on the economic data front. Business confidence will also impact the EUR on the day. | 4f092959-3f93-4499-88e2-1c67d78bdf32 |
709215.0 | 2019-06-25 00:00:00 UTC | Stats Are Likely to Play 2nd Fiddle to Chatter on Iran and China | DBO | https://www.nasdaq.com/articles/stats-are-likely-to-play-2nd-fiddle-to-chatter-on-iran-and-china-2019-06-25 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data was on the lighter side through the Asian session this morning.
New Zealand’s May Trade figures provided direction in the early part of the day. Later in the morning, the BoJ released its monetary policy meeting minutes from May.
Outside of the numbers, chatter from, China, the Middle East, and the U.S administration also influenced through the session.
The list of possible market shocks just keeps getting longer…
For the Kiwi Dollar
The trade surplus narrowed from a revised NZ$383m to NZ$264m in May, month-on-month. Economists had forecasted a narrowing to NZ$200m. Year-on-year, the trade deficit narrowed from a revised NZ$5,560m to NZ$5,490m. Economists had forecasted a narrowing to NZ$5,530m.
According to figures released by NZ Stats,
The value of total goods exports increased by NZ455m (8.5%) to NZ$5.81bn from May 2018.
Exports of dairy products led way, rising by NZ$171m (15%) to NZ$1.3bn.
Across trading partners, exports to China jumped by NZ$349m (29%) to NZ$1.5bn.
The value of total goods imports increased by NZ$390m (7.6%) to NZ$5.54bn.
The increase was attributed to an NZ$363m increase in the imports of crude oil. (In May 2018, an oil refinery shutdown meant that refined products were imported, leading to a sizeable fall in crude oil imports).
The Kiwi Dollar moved from $0.66199 to $0.66213 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.45% to $0.6649. The relatively stable trade figures offset negative comments on trade. Exports to China were certainly a factor.
For the Japanese Yen
The Bank of Japan released the monetary policy meeting minutes from the April 24th – 25th meeting. Following last week’s monetary policy decision and monetary policy statement, the dated minutes were brushed aside.
The Japanese Yen moved from ¥107.303 to ¥107.391 upon release of the minutes. At the time of writing, the Japanese Yen was up by 0.39% to ¥106.88 against the U.S Dollar.
Elsewhere
The Aussie Dollar was down by 0.03% to $0.6961. Risk aversion pinned back the Aussie early on.
The Day Ahead:
For the EUR
There are no material stats due out of the Eurozone today.
A lack of stats leaves the markets to consider monetary policy divergence that has favored the EUR and rising geopolitical risk.
Geopolitics will remain the main area of focus ahead of consumer confidence figures due out of the U.S later in the day.
At the time of writing, the EUR was up by 0.09% to $1.1409.
For the Pound
It’s another quiet day for the Pound.
While the Pound has found support of late, recent economic data suggests that the BoE is biding its time before shifting to a more dovish stance.
The rising prospects of a no-deal Brexit, the extended trade war between the U.S and China and shift in BoE sentiment towards inflation suggests some downside.
Support could come from any positive updates from the G20 Summit later in the week. One reality is, however, that the trade war is unlikely to end any time soon, handshakes or not…
At the time of writing, the Pound was up by 0.02% to $1.2746.
Across the Pond
It’s a busier day ahead on the economic calendar.
May new home sales, April house price figures, and June consumer confidence figures are due out this afternoon.
The key driver will be consumer confidence numbers, which will need to hold onto 130 levels to support the Greenback.
Outside of the stats, the Oval Office will also be in focus. Will there be any further chatter from the Oval Office on trade or Iran?
While we can expect the Oval Office to be of influence, FED Chair Powell and FOMC members Williams, Bostic, and Bullard are also scheduled to speak.
Will there be a swing in favor of a rate cut in September or even sooner?
At the time of writing, the Dollar Spot Index was down by 0.11% to 95.876.
For the Loonie
It’s another quiet day on the economic calendar. April wholesale sales figures are due out, which will provide direction.
Sentiment towards the Iran and U.S chatter on trade will also get the markets to begin to focus on the G20, which is just days away.
The Loonie was down by 0.20% to C$1.3185, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While the Pound has found support of late, recent economic data suggests that the BoE is biding its time before shifting to a more dovish stance. The rising prospects of a no-deal Brexit, the extended trade war between the U.S and China and shift in BoE sentiment towards inflation suggests some downside. While we can expect the Oval Office to be of influence, FED Chair Powell and FOMC members Williams, Bostic, and Bullard are also scheduled to speak. | According to figures released by NZ Stats, The value of total goods exports increased by NZ455m (8.5%) to NZ$5.81bn from May 2018. For the Japanese Yen The Bank of Japan released the monetary policy meeting minutes from the April 24th – 25th meeting. Geopolitics will remain the main area of focus ahead of consumer confidence figures due out of the U.S later in the day. | The list of possible market shocks just keeps getting longer… For the Kiwi Dollar The trade surplus narrowed from a revised NZ$383m to NZ$264m in May, month-on-month. According to figures released by NZ Stats, The value of total goods exports increased by NZ455m (8.5%) to NZ$5.81bn from May 2018. Across trading partners, exports to China jumped by NZ$349m (29%) to NZ$1.5bn. | According to figures released by NZ Stats, The value of total goods exports increased by NZ455m (8.5%) to NZ$5.81bn from May 2018. Across trading partners, exports to China jumped by NZ$349m (29%) to NZ$1.5bn. A lack of stats leaves the markets to consider monetary policy divergence that has favored the EUR and rising geopolitical risk. | 553ffe7a-874d-4803-8da2-3b41b99893fc |
709216.0 | 2019-06-24 00:00:00 UTC | A Most Delicate Start to an Uncertain Week | DBO | https://www.nasdaq.com/articles/a-most-delicate-start-to-an-uncertain-week-2019-06-24 | nan | nan | FXEmpire.com -
Markets
We were calling for a mixed start today regardless of the middle east bruhaha as the market is weighted down but the uncertainty of what door to walk through. Door number 1: The dovish Fed- Door number 2: Trade war uncertainty -Door number 3: Middle east escalation.
The markets have opened with slight risk-off posturing, and those who remained hedged over the weekend will be keen to see where Sunday’s Iran news flow leads before even thinking about reversing.
Oil Markets
The geopolitical escalation in the Middle East is unquestionably a bullish short-term signal for oil markets, as even the thought of 20 % of the world oil supply being affected is enough to trigger significant tremors across oil markets. And these tremors are noticeably moving up the Richter scale as finally there was some noticeable activity for August $70 calls, but frankly, I have no idea why it took so long.
While Iran risk premiums are tentatively holding, life in the oil market is never a one-way street these days as the lack of a significant push higher at the open suggests the market remains focused on OPEC summit, G-20 and of course U.S.-led oversupply concerns which suggest US inventory data will drive the bus this week.
And while I continue to look for commodity and oil demand side support from the likely Fed pro-cycle rate cut in July, however with U.S.-led oversupply holding the reins, the market remains nervous about counterseasonal builds in both oil and gas inventories and should act as price topper.
Gold markets
A tentatively bullish move higher at the COMEX open as the USD continues losing its haven appeal; Middle East tensions smolder but threaten to ignite, while negative real interest rates make Gold just that much more appealing.
But for today, SGE and TOCOM could provide us with a good read on the broader market sentiment when liquidity picks up later today.
Gold continues to trade well despite equities rallying to all-time highs and while I do think one of these markets will eventually prove to be wrong, but for the time being, the race to the bottom in fixed income market remains supportive for both.
Falling global yields and unwinding of long USD positioning has made gold attractive to a broader range of investors. And these new waves of buyers continue to support gold prices amidst a growing list of catalysts which continues to suggest Gold demand could continue to swell.
Sure, there has been an outsized focus on lower interest rates after the FOMC but ultimately while lower interest provides a supportive scrim, but like most commodities, Gold’s price is a function of supply and demand in the long run where demand is the dominating force. Frankly, gold bulls care little if lower interest rates are driving the market demand, they only care if prices move higher, but they also know lower interest rates alone is not a reason to buy Gold.
If we see signs of de-escalation in middle east tensions it could take some of the shine off Gold, but if he begins to factor in a more trade-friendly atmosphere coming out of G-20, Gold prices could remain heavy, and we could see a correction lower.
But, with strategic buyers backing up the tuck on market dips coupled with the unyielding Pboc appetite, these pillars of support will continue to bolster the market for the foreseeable future.
Gold’s broadening appeal.
Gold’s broadening appeal is what makes it so attractive me as a not only hedge against the weaker USD on the back of a dovish Fed but also against the recessionary signals that we have talked about endless last week.
But with both Gold trading firmly and equity markets making new highs something must give. With stock indexes making all-time highs, equity markets always remain incredibly vulnerable to a significant downside correction. Given the numerous catalyst that could trigger as stock market decline, Gold in this feverish environment, Gold needs to be your first flipside investment.
From the Fog of war to the Fog of currency war we go
As far as a flat-out currency war is concerned, I don’t think that will happen but none the fewer discussions are now shifting from a conspiracy theory lark to a possibility.
But what should be visible to everyone now is that the US administration will most certainly be looking for currency concession from both China and the Eurozone when trade negotiations resume and while I don’t think this will lead to a massive US dollar sell-off, but dollar bulls like myself will need to temper our expectations.
The Euro
The EURUSD sent off a bullish signal by closing above the 200dma (1.1351 Friday) as trader emerged from their low volatility cocoon no longer content to pick up nickels in front of a steam roller by staying long USD for the carry.
But with the uber-dovish Fed still firmly ingrained on traders’ minds and the Fed speak so far failing to walk down the market post-FOMC dovish lean, the USD should remain on the defensive.
But nothing is ever easy in currency trading especially as Draghi and Trump take turns batting the Euro around.
EONIA could temper USD sell-off.
The Eurozone is in dire need of a weaker Euro as the sense of policy urgency builds.
Looking at October EONIA pricing which stood around -10 bp on Friday but went as deep as -14/15 bp after Draghi’s Sintra speech I would expect those level to be revisited this week which could stake some of the steam out of the USD unwind.
But with the Fed dovish shift steering the ship, buying dips should remain supported at least down to EURUSD 1.1325
Dollar-Yen
Since the break of 107.75, it has been a way street, and the market remains mainly offered on pullbacks and could stay that way until the market can close convincingly above 107.75. I’m paying attention to critical levels when liquidity returns at the Tokyo open before making any rash judgment.
Iran Opinion
The worst-case scenarios of a military escalation have been averted, but it appears that choking off Iran’s ability to sell oil to the world is not having the desired economic effect of forcing them back to the negotiating table. Instead, Tehran is showing few signs of backing down preferring to escalate by vowing to reboot its atomic production into gear.
I can’t help but think Iranian tensions will get worse before improving, and even with the immediate crisis over the drone abating, still with the US Administration launching today’s version of “Shock and Awe” a precision-targeted Cyberstrike against Iran is the world that much of a safer place?
On Friday via my direct client Gold chat line, I reminded clients never to look a gift horse in the mouth, referring to the uber-dovish FOMC, and that greed was the eternal killer when it came to Gold trading. But suggested that it’s not out of “greed”, but out of fear that the world could be a less safe place on Monday was the main reason not to take profits on Friday.
So now we have the President threating to choke off the remnants of Iran’ economy, and while this will have little impact on the global economy but after endless hours of weekend wool-gathering, and comparing the opinions of 50 top Iran experts that know 1000 X more about Iran than I.
There is a clear and frequent thread developing that the next wave of US sanction in the context of no weekend military escalation, could be one step back but two steps forward to dragging global capital markets over the cliff.
These new US sanctions could back Iran into a corner and might lead to a tactical military mistake as Tehran could start thinking that if you must fight, fight like a cornered cat. And while the Saudi-Israeli-US axis would have overwhelming success in military terms, but it would come at an enormous economic cost as the surge in oil prices alone could negatively impact the global economy for years to come.
This article was written by Stephen Innes, Managing Partner at Vanguard Markets LLC
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The markets have opened with slight risk-off posturing, and those who remained hedged over the weekend will be keen to see where Sunday’s Iran news flow leads before even thinking about reversing. The Euro The EURUSD sent off a bullish signal by closing above the 200dma (1.1351 Friday) as trader emerged from their low volatility cocoon no longer content to pick up nickels in front of a steam roller by staying long USD for the carry. I can’t help but think Iranian tensions will get worse before improving, and even with the immediate crisis over the drone abating, still with the US Administration launching today’s version of “Shock and Awe” a precision-targeted Cyberstrike against Iran is the world that much of a safer place? | Door number 1: The dovish Fed- Door number 2: Trade war uncertainty -Door number 3: Middle east escalation. Frankly, gold bulls care little if lower interest rates are driving the market demand, they only care if prices move higher, but they also know lower interest rates alone is not a reason to buy Gold. This article was written by Stephen Innes, Managing Partner at Vanguard Markets LLC This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Fundamental Daily Forecast – Needs to Hold $2.249 to $2.222 or New Lows Likely Over Near-Term EUR/USD Price Forecast – Euro falls yet finds support S&P 500 Price Forecast – Stock markets gap higher to kick off week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oil Markets The geopolitical escalation in the Middle East is unquestionably a bullish short-term signal for oil markets, as even the thought of 20 % of the world oil supply being affected is enough to trigger significant tremors across oil markets. Gold markets A tentatively bullish move higher at the COMEX open as the USD continues losing its haven appeal; Middle East tensions smolder but threaten to ignite, while negative real interest rates make Gold just that much more appealing. This article was written by Stephen Innes, Managing Partner at Vanguard Markets LLC This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Fundamental Daily Forecast – Needs to Hold $2.249 to $2.222 or New Lows Likely Over Near-Term EUR/USD Price Forecast – Euro falls yet finds support S&P 500 Price Forecast – Stock markets gap higher to kick off week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Gold markets A tentatively bullish move higher at the COMEX open as the USD continues losing its haven appeal; Middle East tensions smolder but threaten to ignite, while negative real interest rates make Gold just that much more appealing. And these new waves of buyers continue to support gold prices amidst a growing list of catalysts which continues to suggest Gold demand could continue to swell. Gold’s broadening appeal is what makes it so attractive me as a not only hedge against the weaker USD on the back of a dovish Fed but also against the recessionary signals that we have talked about endless last week. | d8832a5d-6225-4b72-a9b2-cc60d5a792a5 |
709217.0 | 2019-06-17 00:00:00 UTC | The RBA Hits the Aussie as the Focus Shifts to the GBP and the EUR | DBO | https://www.nasdaq.com/articles/the-rba-hits-the-aussie-as-the-focus-shifts-to-the-gbp-and-the-eur-2019-06-18 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a busier day on the economic calendar. Key stats included New Zealand 2nd quarter consumer sentiment figures and Australia 1st quarter house price numbers.
Outside of the stats, the RBA also released its RBA meeting minutes from the 4th June meeting, where the RBA cut interest rates by 25 basis points.
For the Kiwi Dollar
The Westpac Consumer Sentiment Index fell from 103.8 to 103.5 for the 2nd quarter.
The Kiwi Dollar moved from $0.64941 to $0.64946 upon release of the figures. At the time of writing, the Kiwi Dollar was up 0.05% to $0.6498.
For the Aussie Dollar
The Stats
The house price index fell by 3.0% in the 1st quarter, which was worse than a forecasted 2.5% decline. The house price index had fallen by 2.4% in the 4th quarter. According to the ABS,
All cities reported property price falls in the 1st quarter, with Sydney (-3.9%) and Melbourne (-3.8%) recording the largest falls.
Continued tight credit supply and reduced demand from investors and owner occupiers pressured house prices.
The total residential dwelling value fell by A$172.7bn to A$6.6bn in the quarter, marking a 4th consecutive quarterly decline.
The RBA Minutes
The RBA released its monetary policy meeting minutes this morning. According to the 4th June meeting minutes,
Risks from international trade disputes had increased and weighed on investment intentions in a number of economies.
International trade remained weak as a result.
The RBA noted that the outlook for the Australian economy remained reasonable, with the low-interest rate environment supporting the economy.
A pickup in growth in household disposable income, continued investment in infrastructure and a renewed expansion in the resource sector are to contribute to growth in the coming years.
Members expect the unemployment rate to decline towards the end of the forecast period. They also expect underlying inflation to pick up gradually, but to remain at the lower end of the target range in the next couple of years.
A rising labor force has offset reasonably strong demand for labor, leaving the unemployment rate higher than anticipated.
Spare capacity in the labor market is expected to remain for some time.
Wage growth remained subdued, with inflationary pressures also remaining subdued.
Members noted that further improvement in the labor market would be needed for wages and inflation to rise to the medium-term range.
While members agreed to a 25 basis point lowering of the cash rate, they also noted that it was more likely than not that a further easing in monetary policy would be appropriate in the period ahead.
The RBA considers developments in the labor market to be particularly important.
The Aussie Dollar moved from $0.6855 to $0.68433 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.16% to $0.6842.
Elsewhere,
The Japanese Yen was up 0.18% to ¥108.34 against the U.S Dollar.
The Day Ahead:
For the EUR
It’s a busier day ahead for the EUR.
German and the Eurozone’s ZEW economic sentiment figures for June are due out later this morning. Later on in the day, the Eurozone’s finalized May inflation figures and April trade data will also be in focus.
Barring any material deviation from inflation prelim and forecasts, the market focus will likely be on Germany and the Eurozone’s economic sentiment figures.
Outside of the stats, the markets will also need to consider geopolitical risk and the U.S – China trade war will through the day.
ECB President Draghi will also be speaking, which will influence the EUR should there be any chatter on monetary policy.
At the time of writing, the EUR was up by 0.12% to $1.1232.
For the Pound
It’s also another quiet day ahead on the economic calendar.
There are no material stats due out of the UK later in the day.
A lack of stats will leave the markets to focus on today’s 2nd Tory Party leadership race ballot and 2nd live televised debate.
Boris Johnson continues to be favorite, which also continues to point towards a no-deal Brexit unless Johnson shifts on his stance.
While the focus will be on the 2nd ballot, BoE Governor Carney is also scheduled to speak. Expect the Pound to respond to any monetary chatter. Recent economic data suggests that the BoE may not be able to be as hawkish as initially suggested.
At the time of writing, the Pound was down by 0.05 to $1.2528.
Across the Pond
Economic due out of the U.S include May building permit and house start numbers. With the FED monetary policy decision and FOMC economic projections due out tomorrow, expect some Dollar sensitivity to the numbers.
Dire numbers could reflect a lack of confidence in the U.S economic outlook. It wouldn’t be the first time that the housing sector signaled a shift in economic conditions.
Outside of the numbers, U.S – China trade war chatter and chatter over Iran will also provide direction on the day.
At the time of writing, the Dollar Spot Index was down by 0.10% to 97.465.
For the Loonie
Canada April manufacturing sales figures are due out later this afternoon. We can expect the numbers to have an influence on the Loonie.
Outside of the numbers, market risk appetite and influence on crude oil prices will continue to provide direction.
Mixed economic data out of the U.S suggests that the U.S economy is also beginning to show cracks. Retail sales figures may have impressed, but the rest of the numbers have been poor. Demand for crude oil will need to weaken further, however, for the Loonie to really sink…
The Loonie was up by 0.05% to C$1.3406, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to the 4th June meeting minutes, Risks from international trade disputes had increased and weighed on investment intentions in a number of economies. Barring any material deviation from inflation prelim and forecasts, the market focus will likely be on Germany and the Eurozone’s economic sentiment figures. A lack of stats will leave the markets to focus on today’s 2nd Tory Party leadership race ballot and 2nd live televised debate. | Key stats included New Zealand 2nd quarter consumer sentiment figures and Australia 1st quarter house price numbers. The RBA Minutes The RBA released its monetary policy meeting minutes this morning. Outside of the numbers, market risk appetite and influence on crude oil prices will continue to provide direction. | Key stats included New Zealand 2nd quarter consumer sentiment figures and Australia 1st quarter house price numbers. For the Aussie Dollar The Stats The house price index fell by 3.0% in the 1st quarter, which was worse than a forecasted 2.5% decline. This article was originally posted on FX Empire More From FXEMPIRE: Oil Price Fundamental Daily Forecast – Late Session API Report Could Trigger Volatile Reaction Gold Price Futures (GC) Technical Analysis – June 25, 2019 Forecast Gold Price Prediction – Gold Rallies Hitting Fresh 6-year Highs The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar The Stats The house price index fell by 3.0% in the 1st quarter, which was worse than a forecasted 2.5% decline. Spare capacity in the labor market is expected to remain for some time. Outside of the numbers, market risk appetite and influence on crude oil prices will continue to provide direction. | a054009b-9341-4865-b69b-d83e4a64d58c |
709218.0 | 2019-06-17 00:00:00 UTC | The UK Leadership Race, Trade, Monetary Policy, Iran and U.S Stats in Focus | DBO | https://www.nasdaq.com/articles/the-uk-leadership-race-trade-monetary-policy-iran-and-u.s-stats-in-focus-2019-06-17 | nan | nan | FXEmpire.com -
Earlier in the Day:
There were no material stats to provide direction through the Asian session as the markets prepare for a busy week ahead.
The lack of stats left the focus on the extended U.S – China trade war and events in the Gulf following last week’s attack on two oil tankers. With the FED also delivering its June policy decision and economic projections on Wednesday, Friday’s U.S retail sales figures could question how dovish the FED will be.
With U.S – Iran tensions now heightened, U.S President Trump may look to use the latest attacks as a reason to take military action against Iran, which has been accused of the attacks.
For the Majors,
At the time of writing, the Kiwi Dollar was up 0.25% to $0.6508. The Aussie Dollar saw a more modest gain of 0.10% to $0.6879. The Japanese Yen was down by just 0.03% to ¥108.59 against the U.S Dollar.
In the equity markets,
The Hang Seng led the way, rising by 0.66%, with the gains coming off the back of the HK Government decision to suspend the extradition bill.
Weak economic data from Friday weighed on the CSI300, which was down 0.22%. The ASX200 was down by just 0.01% ahead of the close, while the Nikkei was up by just 0.09%.
The Day Ahead:
For the EUR
It’s a relatively quiet day ahead for the EUR.
Eurozone 1st quarter wage growth figures due out later this morning will garner some attention.
With tensions in the Middle East on the rise and the U.S – China trade war bounding on, geopolitics will likely be the key driver on the day.
At the time of writing, the EUR was up by 0.06% to $1.1215.
For the Pound
It’s also a quiet day ahead.
There are no material stats due out of the UK to provide the Pound with direction.
A lack of stats will leave the markets to focus on tomorrow’s 2nd Tory Party leadership race ballot.
Boris Johnson remains favorite to take the top spot following last week’s ballot result.
At the time of writing, the Pound was up by 0.03 at $1.2593.
Across the Pond
While it’s a big week ahead for the Greenback, it’s a relatively quiet day ahead.
NY Empire State Manufacturing Index numbers for June will provide the Greenback with direction later this afternoon.
While we can expect the Dollar to respond to the numbers, chatter from the Oval Office will likely be the key driver on the day.
On top of the ongoing U.S – China trade war, there’s now talk of possible military action against Iran following last week’s attacks.
It remains to be seen, however, whether Trump will make a move? The Saudis have pushed for a response…
At the time of writing, the Dollar Spot Index was down by 0.06% to 97.509.
For the Loonie
Foreign security purchase figures due out later today are unlikely to have an impact on the Loonie.
Influence from the Middle East on crude oil prices could provide support, though any talk of military action would likely favor the Greenback.
Market sentiment towards the global economic outlook also continues to be negative for the Loonie.
The Loonie was up by 0.04% to C$1.3409, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The lack of stats left the focus on the extended U.S – China trade war and events in the Gulf following last week’s attack on two oil tankers. In the equity markets, The Hang Seng led the way, rising by 0.66%, with the gains coming off the back of the HK Government decision to suspend the extradition bill. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Recap – Fiber Gained, Shrugging over Dovish ECB Stances Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 25/06/19 Trump-Xi Meeting: The $300 Billion Bet The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With tensions in the Middle East on the rise and the U.S – China trade war bounding on, geopolitics will likely be the key driver on the day. NY Empire State Manufacturing Index numbers for June will provide the Greenback with direction later this afternoon. On top of the ongoing U.S – China trade war, there’s now talk of possible military action against Iran following last week’s attacks. | FXEmpire.com - Earlier in the Day: There were no material stats to provide direction through the Asian session as the markets prepare for a busy week ahead. The Day Ahead: For the EUR It’s a relatively quiet day ahead for the EUR. Across the Pond While it’s a big week ahead for the Greenback, it’s a relatively quiet day ahead. | With tensions in the Middle East on the rise and the U.S – China trade war bounding on, geopolitics will likely be the key driver on the day. On top of the ongoing U.S – China trade war, there’s now talk of possible military action against Iran following last week’s attacks. The Loonie was up by 0.04% to C$1.3409, against the U.S Dollar, at the time of writing. | d8fb5db6-682a-4946-9995-5dcbb139676d |
709219.0 | 2019-06-14 00:00:00 UTC | As the Aussie and Kiwi Sink Focus Shifts to U.S Retail Sales and the USD | DBO | https://www.nasdaq.com/articles/as-the-aussie-and-kiwi-sink-focus-shifts-to-u.s-retail-sales-and-the-usd-2019-06-14 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data was on the lighter side once more during the Asian session this morning.
New Zealand Business PMI figures for May and Japan’s finalized industrial production figures for April provided direction in the early part of the day.
For the Kiwi Dollar,
The Business PMI fell from 53.0 to 50.2 in May. According to the latest Business PMI Survey,
Production contracted in May, with the sub-index falling from 50.1 to 46.4.
New orders stagnated, with the sub-index falling from 52.2 to 50.4.
Employment also hit reverse, with the sub-index sliding from 51.4 to 48.6.
The dire numbers left the PMI at its lowest level since 2012.
The Kiwi Dollar moved from $0.65732 to $0.65608 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.52% to $0.6534.
For the Japanese Yen,
According to figures released by the Ministry of Economy, Trade, and Industry, industrial production increased by 0.6% in April. The finalized figures were in line with prelim and forecast. Industrial production had fallen by 0.6% in March.
The Japanese Yen moved from ¥108.326 to ¥108.331 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.06% to ¥108.32 against the U.S Dollar.
Elsewhere,
At the time of writing, the Aussie Dollar was down by 0.23% to $0.6899.
The Day Ahead:
For the EUR,
It’s another relatively quiet day ahead for the EUR.
French and Italian finalized May inflation figures are due out later this morning.
Barring a material deviation from prelims, we can expect the inflation figures to have a muted impact on the EUR.
From the U.S, retail sales and industrial production figures will have an impact on the pair later in the day, however.
Outside of the numbers, expect geopolitics and trade war chatter will have a greater influence on the day. The latest oil tanker attack in the Gulf of Oman could lead to rising tensions in the Middle East.
At the time of writing, the EUR was down by 0.04% to $1.1271.
For the Pound,
It’s also a quiet day ahead.
While there are no material stats due out of the UK, BoE Governor Carney is scheduled to speak later in the day. Any forward guidance on monetary policy will provide the Pound with direction on the day.
From Parliament, the leadership race and Brexit chatter will remain the main area of focus on the day.
With Boris Johnson the clear front runner, his views on Brexit will be of particular influence ahead of the next ballot.
At the time of writing, the Pound was flat at $1.2674.
Across the Pond,
It’s a big day for the Greenback. Key stats include May retail sales and industrial production figures and April business inventory numbers. Later on in the session, prelim June consumer sentiment figures will also influence.
While we can expect the markets to take a close look at today’s stats, retail sales will likely be the key driver on the day. Forecasts are Dollar positive.
As always, chatter from the Oval office will also need to be considered through the day. On top of the trade war with China, there’s also rising tension between the U.S and Iran to consider.
At the time of writing, the Dollar Spot Index was up by 0.07% to 97.081.
For the Loonie,
There are no material stats due out of Canada to provide direction to the Loonie.
Crude oil prices and the IEA’s monthly report will have some influence later in the day. On the geopolitical front, any chatter from Iran or the U.S will also need to be considered following the latest oil tanker attack in the Gulf.
The Loonie was down by 0.1% to C$1.3341, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The latest oil tanker attack in the Gulf of Oman could lead to rising tensions in the Middle East. Key stats include May retail sales and industrial production figures and April business inventory numbers. This article was originally posted on FX Empire More From FXEMPIRE: The Iran, the U.S and the Rest of Middle East Natural Gas Price Fundamental Daily Forecast – Still in ‘Sell the Rally’ Mode USD/CAD Daily Forecast – Bear Flag Indicating Downtrend Continuation The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | New Zealand Business PMI figures for May and Japan’s finalized industrial production figures for April provided direction in the early part of the day. Outside of the numbers, expect geopolitics and trade war chatter will have a greater influence on the day. Key stats include May retail sales and industrial production figures and April business inventory numbers. | New Zealand Business PMI figures for May and Japan’s finalized industrial production figures for April provided direction in the early part of the day. The Day Ahead: For the EUR, It’s another relatively quiet day ahead for the EUR. From the U.S, retail sales and industrial production figures will have an impact on the pair later in the day, however. | New Zealand Business PMI figures for May and Japan’s finalized industrial production figures for April provided direction in the early part of the day. At the time of writing, the Japanese Yen was up by 0.06% to ¥108.32 against the U.S Dollar. Outside of the numbers, expect geopolitics and trade war chatter will have a greater influence on the day. | ed09c558-8e26-4c32-bdc3-8d9819560cba |
709220.0 | 2019-06-11 00:00:00 UTC | Draghi, Inflation, UK Politics and Trump Keep the EUR, USD and GBP in Focus | DBO | https://www.nasdaq.com/articles/draghi-inflation-uk-politics-and-trump-keep-the-eur-usd-and-gbp-in-focus-2019-06-12 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data was on the heavier side through the Asian session this morning. NZ electronic card retail sales, Australian consumer sentiment figures, and China inflation numbers provided direction.
For the Kiwi Dollar,
Electronic card retail sales fell by 0.5% in May, month-on-month, which was worse than a forecasted 0.7% increase. Card retail sales had increased by 0.6% in April.
According to NZStats,
The durables industry reported the largest decline in retail card spending, down by 0.8%.
Spending on grocery and liquor reported the 2nd largest decline, down by 0.4%.
There were also declines in spending on apparel and fuel industries, while there was no change in spending within the hospitality group.
Bucking the trend was spending on vehicles (excl. fuel), up by 0.9%.
The Kiwi Dollar moved from $0.65859 to $0.65832 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.14% to $0.6573.
For the Aussie Dollar,
The Westpac Consumer Sentiment Index fell by 0.6% to 100.7 in June, reversing a 0.6% rise from May.
According to the latest Westpac report,
The family finances vs a year ago fell by 2.4% to 83.2. The sub-index continued to remain below the long run average 89.4.
Conversely, the family finances next 12-months rose by 3.1% to 107.0, supported by the latest RBA rate cut and tax cuts
Sentiment towards the economic outlook was mixed in June.
The economic conditions next 12-months sub-index decreased by 4.7% to 99.3, continuing to hold well above the average 90.9.
By contrast, the economic conditions next 5-years rose by 1% to 98.2.
On the consumer spending front, the time to buy a major household item index slipped by 0.2% to 115.5. The index continued to sit well below a long run average 127.3.
Weighed by negative sentiment towards the economy near-term, the unemployment expectations index jumped by 5.1% to 127.0, reversing the previous month’s decline. The long-run average stood at 130.0 in May.
From the housing sector, the time to buy a dwelling sub-index increased by 1.8% to 116.9, with the House Price Expectations Index surging by 22.7% to 109.7. Both sub-indexes sat below their long-run averages in June.
The Aussie Dollar moved from $0.69584 to $0.69566 upon release of the figures.
Out of China,
The annual rate of inflation picked up from 2.5% to 2.7% in May, which was in line with forecast. Month-on-month, however, consumer prices remained unchanged. Economic forecasts were for a 0.1% increase. The annual rate of wholesale inflation eased from 0.9% to 0.6%, which was in line with forecast.
The Aussie Dollar moved from $0.69539 to $0.6955 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.16% to $0.6951.
Elsewhere,
At the time of writing, the Japanese Yen was up by 0.04% to ¥108.48 against the U.S Dollar.
The Day Ahead:
For the EUR,
It’s a relatively busy day ahead for the EUR.
Finalized May inflation figures for Spain and French 1st quarter nonfarm payroll numbers are due out later this morning.
Barring a material deviation from prelim figures, the finalized inflation figures are unlikely to have an impact on the EUR.
Outside of the numbers, ECB President Draghi is scheduled to speak after the release of the Spanish inflation numbers. It remains to be seen whether Draghi delivers a blow to the EUR to reverse last Thursday’s gain…
Looking elsewhere, the market focus will remain on the Oval Office and any trade war chatter. There’s also the issue of Dollar strength to consider, which has moved back into the U.S President’s sights.
At the time of writing, the EUR was up by 0.02% to $1.1322.
For the Pound,
It’s a quiet day ahead.
There are no material stats due out of the UK today.
The lack of stats will leave the market focus on Parliament, the leadership race and Brexit chatter.
The Pound found support on Tuesday off the back support for a Labour Party move to block a no-deal Brexit. While the Pound found support, it was yet another demonstration of the lack of cohesion within the Conservative Party.
Michael Gove and other pro-remainers are reportedly looking to prevent a possible no-deal departure, which is a Boris Johnson proposal.
At the time of writing, the Pound was down by 0.07% to $1.2716,
Across the Pond,
It’s another relatively quiet day ahead on the economic data front, though we can expect Dollar sensitivity to the stats.
U.S May inflation figures are due out later this afternoon. We can expect the Dollar to respond to the numbers, with core inflation likely to have the greatest impact.
Outside of the stats, expect trade war chatter to continue to be an area of focus as the G20 Summit nears.
At the time of writing, the Dollar Spot Index was up by 0.02% to 96.701.
For the Loonie,
There are no material stats due out today to provide direction to the Loonie.
The lack of stats will leave market risk sentiment and today’s EIA crude oil inventory numbers in focus.
The Loonie was flat at C$1.3284, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | NZ electronic card retail sales, Australian consumer sentiment figures, and China inflation numbers provided direction. At the time of writing, the Pound was down by 0.07% to $1.2716, Across the Pond, It’s another relatively quiet day ahead on the economic data front, though we can expect Dollar sensitivity to the stats. The lack of stats will leave market risk sentiment and today’s EIA crude oil inventory numbers in focus. | NZ electronic card retail sales, Australian consumer sentiment figures, and China inflation numbers provided direction. For the Kiwi Dollar, Electronic card retail sales fell by 0.5% in May, month-on-month, which was worse than a forecasted 0.7% increase. For the Aussie Dollar, The Westpac Consumer Sentiment Index fell by 0.6% to 100.7 in June, reversing a 0.6% rise from May. | NZ electronic card retail sales, Australian consumer sentiment figures, and China inflation numbers provided direction. For the Kiwi Dollar, Electronic card retail sales fell by 0.5% in May, month-on-month, which was worse than a forecasted 0.7% increase. At the time of writing, the Pound was down by 0.07% to $1.2716, Across the Pond, It’s another relatively quiet day ahead on the economic data front, though we can expect Dollar sensitivity to the stats. | NZ electronic card retail sales, Australian consumer sentiment figures, and China inflation numbers provided direction. For the Aussie Dollar, The Westpac Consumer Sentiment Index fell by 0.6% to 100.7 in June, reversing a 0.6% rise from May. Economic forecasts were for a 0.1% increase. | 81397d7d-2b57-4059-94a1-bcb2bd17bc4a |
709221.0 | 2019-06-10 00:00:00 UTC | The Dollar Fights Back as Mexico Avoids Tariffs | DBO | https://www.nasdaq.com/articles/the-dollar-fights-back-as-mexico-avoids-tariffs-2019-06-10 | nan | nan | FXEmpire.com -
Earlier in the Day:
Theeconomic calendarwas on the heavier side this morning. Key stats included Japan’s finalized 1st quarter GDP numbers and China trade data for May.
The Australia market was closed on the day.
For the Japanese Yen,
The economy grew by 2.2% in the 1st quarter, according to finalized figures, which was better than a forecasted and prelim 2.1%. In the 4th quarter, the economy grew by 1.9% year-on-year. Quarter-on-quarter, the economy had grown by 0.6%, which also came in ahead of prelim and forecast figures. In the 4th quarter, the economy had grown by 0.5%. Japan’s cabinet office released the figures.
The Japanese Yen moved from ¥108.432 to ¥108.456 against the U.S Dollar upon release of the figures. At the time of writing, the Japanese Yen was down by 0.42% to ¥108.64 against the U.S Dollar.
Out of China,
Exports rose by 1.1%, year-on-year, in May, coming in well ahead of a forecasted 3.8% fall. In April, exports had fallen by 2.7%. While exports were on the rise, imports slid by 8.5%, which was far worse than a forecasted 3.8% decline. In April, imports had risen by 4%. As a result of the slide in imports, the Dollar trade surplus widened from $13.84bn to $41.65bn. Economists had forecasted a widening to $20.5bn.
The Aussie Dollar moved from $0.69840 to $0.69834 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.44% to $0.6970, with a positive impact of a rise in exports offset by concerns over domestic demand and future output. A jump in support for the Greenback weighed early on.
Elsewhere,
At the time of writing, the Kiwi Dollar was down by 0.51% to $0.6631.
The Day Ahead:
For the EUR
It’s a quiet day ahead for the EUR, with Germany on holiday.
The lack of stats and lighter volumes will leave the EUR in the hands of market sentiment towards the U.S and Eurozone economies.
Later in the day, any updates from either the U.S or China on trade will also have an impact.
At the time of writing, the EUR was down by 0.21% to $1.1309, the EUR giving up some of last week’s gains early on. Market reaction to the U.S – Mexico agreement that avoids the rollout of tariffs later today supported the Greenback early on.
For the Pound
It’s a particularly busy day ahead on theeconomic calendar GDP numbers, industrial and manufacturing production, and trade data are due out later this morning.
The market focus will be on the manufacturing production and GDP figures.
With the BoE looking to raise rates at a more aggressive pace later in the year to curb inflation, positive numbers would support the current outlook.
Outside of the numbers, however, political chatter from Parliament will also have an influence on the day. There’s been plenty of chatter in recent days, with threats coming from the likes of Macron, who continues to lay his claim to be the voice of the EU as Merkel’s power diminishes.
At the time of writing, the Pound was down by 0.21% to $1.2710, Dollar strength weighing early on.
Across the Pond
It’s a relatively quiet day ahead on the economic data front.
The U.S JOLTs job openings figures for April are due out later today. Following the dire nonfarm payroll figures from Friday, we can expect the Greenback to be responsive to today’s numbers.
Any updates from the U.S or China will also influence on the day.
Outside of the stats, early support came from the Mexico – U.S agreement that averted the rollout of tariffs later today
At the time of writing, the Dollar Spot Index was up by 0.24% to 96.779.
For the Loonie
It’s a relatively quiet day ahead.
May housing starts and April building permits figures are due out later today. We can expect the stats to have a limited impact on the Loonie.
Crude oil prices and sentiment towards trade will likely provide direction on the day.
The Loonie was down by 0.06% to C$1.3275, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Pound It’s a particularly busy day ahead on theeconomic calendar GDP numbers, industrial and manufacturing production, and trade data are due out later this morning. There’s been plenty of chatter in recent days, with threats coming from the likes of Macron, who continues to lay his claim to be the voice of the EU as Merkel’s power diminishes. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/06/19 E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Weekly Chart Strengthens Over 7551.00, Weakens Under 7439.75 Fed Messaging the Key Focus for Week Ahead The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats included Japan’s finalized 1st quarter GDP numbers and China trade data for May. For the Pound It’s a particularly busy day ahead on theeconomic calendar GDP numbers, industrial and manufacturing production, and trade data are due out later this morning. Outside of the stats, early support came from the Mexico – U.S agreement that averted the rollout of tariffs later today At the time of writing, the Dollar Spot Index was up by 0.24% to 96.779. | The Day Ahead: For the EUR It’s a quiet day ahead for the EUR, with Germany on holiday. For the Pound It’s a particularly busy day ahead on theeconomic calendar GDP numbers, industrial and manufacturing production, and trade data are due out later this morning. Outside of the stats, early support came from the Mexico – U.S agreement that averted the rollout of tariffs later today At the time of writing, the Dollar Spot Index was up by 0.24% to 96.779. | Key stats included Japan’s finalized 1st quarter GDP numbers and China trade data for May. Later in the day, any updates from either the U.S or China on trade will also have an impact. For the Pound It’s a particularly busy day ahead on theeconomic calendar GDP numbers, industrial and manufacturing production, and trade data are due out later this morning. | 495ff51d-aeb2-4e6a-8c11-d358ee80dad3 |
709222.0 | 2019-06-06 00:00:00 UTC | Nonfarm Payrolls – It May Take More Than 1 Bad Reading to Force a Rate Cut | DBO | https://www.nasdaq.com/articles/nonfarm-payrolls-it-may-take-more-than-1-bad-reading-to-force-a-rate-cut-2019-06-07 | nan | nan | FXEmpire.com -
Earlier in the Day:
Theeconomic calendarwas on the quieter side through the Asian session this morning. Japan’s April household spending figures provided direction in the early part of the session.
Later on in the morning, Australia’s home loan figures failed to influence as the markets looked ahead to the U.S nonfarm and wage growth figures due out later in the day.
For the Japanese Yen,
Household spending slid by 1.4% in April, month-on-month, which was far worse than a forecasted 0.3% decline. Spending had increased by 0.1% in March. Year-on-year, household spending rose by 1.3%, falling short of a forecasted 2.6% and March 2.1% increase.
According to the Statistic Bureau,
Spending on transportation & communication (+12.1%), culture & recreation (+5.7%), food (+1.9%) and medical care (+1.9%) supported spending.
Dragging on spending, however, were falls in spending on housing (-10.5%), furniture & household utensils (-6.6%), clothing & footwear (-4.1%) and fuel, light & water charges (-3.2%).
The Japanese Yen moved from ¥108.444 to ¥108.468 against the U.S Dollar upon release of the figures. At the time of writing, the Japanese Yen was down by 0.06% to ¥108.47 against the U.S Dollar.
For the Aussie Dollar,
According to the ABS, homes loans fell by 1.2% in April, month-on-month, which was worse than a forecasted 0.2% decline. In March home loans had fallen by 2.5%.
The Aussie Dollar moved from $0.69743 to $0.69759 upon release of the figures. At the time of writing, the Aussie Dollar was flat at $0.6977, with the markets ignoring the home loan figures early on.
Elsewhere,
At the time of writing, the Kiwi Dollar was down by 0.06% to $0.6616.
The Day Ahead:
For the EUR
It’s a relatively busy day ahead for the EUR.
German industrial production and trade data are due out later this morning, ahead of French industrial production and trade data.
While we expect the French numbers to influence, the market focus will be on Germany’s numbers. Following an upward revision to March factory orders, industrial production figures could come in better than a forecasted 0.4% fall in April.
Outside of the numbers, any trade chatter will also influence on the day.
At the time of writing, the EUR was down by 0.06% to $1.1269.
For the Pound
It’s a quiet day on theeconomic calendar with May house price figures likely to have a muted effect on the Pound.
On the political front, it’s Theresa May’s last day as the leader of the Conservative Party. It remains to be seen whether there will be any negative chatter to weigh on the Pound.
At the time of writing, the Pound was up 0.01% to $1.2695, which has been resilient in spite of the political uncertainty ahead.
Across the Pond
It’s a big day for the Greenback.
U.S nonfarm payrolls and wage growth will be the key drivers on the day. Following particularly disappointing ADP numbers released earlier in the week, pressure on the FED would mount of similar numbers are released later today.
Steady wage growth and 180K plus nonfarm payroll figures would ease immediate concerns over labor market conditions.
Outside of the stats, we can expect more chatter on trade throughout the day. Updates from Mexico – U.S trade talks will also have an impact on market risk sentiment. The U.S was due to impose tariffs on Monday…
At the time of writing, the Dollar Spot Index was flat at 97.042.
For the Loonie
It’s a relatively busy day ahead.
May employment figures are due out of Canada. While the markets will focus on the employment change figures, the unemployment rate will need to hold steady to provide support.
Outside of the stats, progress on U.S – Mexico trade talks and the direction of crude oil prices will also influence on the day.
The Loonie was up by 0.07% to C$1.3353, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Steady wage growth and 180K plus nonfarm payroll figures would ease immediate concerns over labor market conditions. Outside of the stats, progress on U.S – Mexico trade talks and the direction of crude oil prices will also influence on the day. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview – Stocks Rally Led by Energy Shares Following Tanker Attacks DASH Technical Analysis – Support Levels in Play –14/06/19 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/06/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Later on in the morning, Australia’s home loan figures failed to influence as the markets looked ahead to the U.S nonfarm and wage growth figures due out later in the day. At the time of writing, the Aussie Dollar was flat at $0.6977, with the markets ignoring the home loan figures early on. German industrial production and trade data are due out later this morning, ahead of French industrial production and trade data. | Later on in the morning, Australia’s home loan figures failed to influence as the markets looked ahead to the U.S nonfarm and wage growth figures due out later in the day. At the time of writing, the Aussie Dollar was flat at $0.6977, with the markets ignoring the home loan figures early on. The Day Ahead: For the EUR It’s a relatively busy day ahead for the EUR. | Later on in the morning, Australia’s home loan figures failed to influence as the markets looked ahead to the U.S nonfarm and wage growth figures due out later in the day. Outside of the numbers, any trade chatter will also influence on the day. At the time of writing, the Pound was up 0.01% to $1.2695, which has been resilient in spite of the political uncertainty ahead. | 56b2841a-0fcb-4795-a720-e0a0f0a8b85f |
709223.0 | 2019-06-05 00:00:00 UTC | Forex Daily Recap – Euro Slides as EU Plans to Start Infringement Procedure Against Italy | DBO | https://www.nasdaq.com/articles/forex-daily-recap-euro-slides-eu-plans-start-infringement-procedure-against-italy-2019-06 | nan | nan | FXEmpire.com -
USD Index
The Greenback was showing good signs of recovery in the Asian trading session, moving upwards breaking 97.08 resistance mark. The USD Index had gained strength out of the plunging EUR/USD pair, which makes up 50% of the Index. The Buck marked the day’s high near 97.15 levels at around 12:00 GMT. France May Markit PMI Composite recorded 51.2 over 51.3 forecasts. However, most of the Euro-specific data came out positive laterwards. There was a massive slump observed in the US Dollar Index at 12:15 GMT when the ADP May Employment data got released. The Employment Change recorded 27K in comparison to the market expectation of 180K.
US Dollar Index 60 Min 05 June 2019
Following the release of such appalling reports, the Index slipped 0.30% landing near 96.76 levels. Nevertheless, ISM May Non-Manufacturing PMI reported 2.52% over the consensus estimates of 55.5 points. Also, the US May Markit PMI Composite and Services PMI were in-line with the Street expectation. Hence, from the then lowest levels, the Index took a slight pickup reaching near 97.06 levels.
EUR/USD
Fiber displayed a see-sawed performance throughout the day. The May Markit PMI and Services data for France, Spain, Italy, Germany, and Eurozone came out today. Most of the Markit data reflected positive data. Notably, the reports for the European Monetary Union recorded 51.8 points over to the 51.6 points forecasts. There were also some adverse Eurozone data in the middle of the day. Both the MoM and YoY Eurozone April Producer Price Index reported lower-than-expectation. The EUR/USD pair kept showing rigorous volatility with such release of each report. The pair gained in the European session when the USD Index bowed down over weak Employment data. At around 12:15 GMT, the Euro pair marked the day’s high near 1.1306 levels, 0.46% up since the last closing. The pair started falling from the top levels as reports suggested the EU would start infringement procedures against Italy.
AUD/USD
The Aussie pair took a U-turn today amid poor Australian and Chinese data. In the early hours, the Aussie QoQ Q1 Gross Domestic Product (GDP) reported 0.4% over 0.5% estimates. Along with the QoQ data, the Q1 YoY GDP came out in-line with the market expectation of 1.8%. China and Antipodeans have good trade relations. Any changes in the Chinese counterpart significantly impacts the Aussie Dollar too.
AUDUSD 60 Min 05 June 2019
Today, at around 01:45 GMT, Caixin May Services PMI reported 52.7 in place of 54.3 estimates. The Aussie Dollar had already started the plunge rally after RBA’s rate cut yesterday. RBA policymakers had reduced the interest rates to 1.25% over the previous 1.50%. The late plunge was also due to the drop in the USD Index over poor Employment data. After opening near 0.6989 levels, the AUD/USD pair was trading near 0.6971 levels, 0.26% down for the day.
USD/CAD
The Loonie pair started trading on Wednesday near 1.3391 levels and continued the last day’s downtrend until 10:15 GMT. After touching the pivotal mark near 1.3361 levels, day’s low, the pair took on the upward movement. Meanwhile, the Oil prices slumped after EIA Crude Oil Stocks Change computed since May 31 came out. The EIA reports recorded 6.771 Million over -0.849 Million. Following reports, the Crude Oil Futures dropped 5.43% reaching near $50.64 bbl. In the middle of the day, CAD Q1 QoQ Labor Productivity reported in-line with the Street analysts hope of 0.3%. With falling Fiber, the Greenback started recovering from the earlier incurred losses. And, with the rising USD Index, the USD/CAD pair also took the north flight.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - USD Index The Greenback was showing good signs of recovery in the Asian trading session, moving upwards breaking 97.08 resistance mark. AUDUSD 60 Min 05 June 2019 Today, at around 01:45 GMT, Caixin May Services PMI reported 52.7 in place of 54.3 estimates. In the middle of the day, CAD Q1 QoQ Labor Productivity reported in-line with the Street analysts hope of 0.3%. | Also, the US May Markit PMI Composite and Services PMI were in-line with the Street expectation. Most of the Markit data reflected positive data. Meanwhile, the Oil prices slumped after EIA Crude Oil Stocks Change computed since May 31 came out. | US Dollar Index 60 Min 05 June 2019 Following the release of such appalling reports, the Index slipped 0.30% landing near 96.76 levels. The pair started falling from the top levels as reports suggested the EU would start infringement procedures against Italy. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Daily Forecast – Euro Eases Lower From 2 Month Highs Natural Gas Price Fundamental Daily Forecast – Traders Looking for EIA Report to Show 110 Bcf Build AUD/USD Forex Technical Analysis – June 13, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Most of the Markit data reflected positive data. The late plunge was also due to the drop in the USD Index over poor Employment data. After opening near 0.6989 levels, the AUD/USD pair was trading near 0.6971 levels, 0.26% down for the day. | 5bc350b4-faed-454c-a984-52acab179d33 |
709224.0 | 2019-06-05 00:00:00 UTC | Service Sector PMIs Put the GBP, the EUR and the USD in the Spotlight | DBO | https://www.nasdaq.com/articles/service-sector-pmis-put-gbp-eur-and-usd-spotlight-2019-06-05 | nan | nan | FXEmpire.com -
Earlier in the Day:
Theeconomic calendarwas on the busy side through the Asian session.
Australia 1st quarter GDP numbers and China’s Caixin Services May PMI provided direction in the early part of the day.
For the Aussie Dollar,
The Australia economy grew by 1.8%, year-on-year, in the 1st Quarter GDP, which was in line with market forecasts. The economy had grown by 2.3% in the 4th quarter. Quarter-on-quarter, the economy grew by 0.4%, coming up short of a forecasted 0.5%. The economy had seen a quarterly growth of just 0.2% in the 4th quarter.
According to the ABS,
Government spending was the main contributor to growth. Spending increased by 0.8% in the quarter and by 5.1% through the year.
Household spending slowed and contributed just 0.1% to growth. Household final consumption increased by 0.3% in the quarter and by 1.8% through the year.
Dwelling investments also impacted. Dwelling investments fell by 2.5% in the quarter and by 3.1% through the year.
The Aussie Dollar moved from $0.69937 to $0.70000 upon release of the figures that preceded China service PMI numbers.
Out of China,
The Caixin Services PMI slipped from 54.5 to a 3-month low 52.7 in May. According to the May Markit Survey,
News business increased at a more moderate, but still solid pace. New orders from abroad expanded at a slower pace.
Service companies continued to add to payrolls, though the pace of hiring eased in May.
Service sector companies reported the lowest degree of confidence since Jul-18.
At composite level, the PMI eased from 52.7 to a 3-month low 51.5
The Aussie Dollar moved from $0.70000 to $0.69985 upon release of the figures. At the time of writing, the Aussie Dollar was up 0.14% to $0.7001.
Elsewhere,
At the time of writing, the Kiwi Dollar was up by 0.39% to $0.6634, while the Japanese Yen was up by 0.05% to ¥108.10 against the U.S Dollar.
The Day Ahead:
For the EUR
It’s a particularly busy day ahead on theeconomic calendar Spain and Italy’s May service PMI numbers are due out in the early part of the session.
France, Germany and the Eurozone’s Finalized service PMIs are also due out along with the Eurozone’s April retail sales figures.
Barring material deviation from prelim numbers out of France and Germany, Italy service PMI and the Eurozone’s composite PMI will be the key drivers on the PMI front.
The Eurozone’s retail sales figures will also influence and will likely be EUR negative.
From elsewhere, private sector PMI numbers out of the U.S will have an impact on the pair as will any Beijing and U.S administration chatter on trade.
At the time of writing, the EUR was up 0.09% to $1.1262.
For the Pound
The UK’s May service PMI is due out later this morning. While forecasts for the PMI to hold steady at 50.9, an unexpected contraction would certainly impact the Pound.
Outside of the numbers, chatter from the UK Parliament and sentiment towards Brexit will continue to influence.
Macron continues to attempt to show strength in Europe, stating that the 31st October deadline should be Britain’s final deadline. Fortunately, for the British government and the rests of the EU, France is not the only member state with a say on this.
A no-deal Brexit remains the worst-case scenario for the Pound, leaving the race to become Theresa May’s successor the key driver near-term.
At the time of writing, the Pound was up 0.06% to $1.2705.
Across the Pond
It’s a relatively busy day ahead on theeconomic calendar ADP nonfarm employment change figures are due out ahead of service sector PMI numbers.
Alongside May’s employment numbers, the market’s preferred ISM non-manufacturing service PMI will be the key drivers.
Outside of the stats, trade war chatter will also provide direction on the day.
At the time of writing, the Dollar Spot Index was down 0.02% to 97.054.
For the Loonie
1st quarter labor productivity figures will provide direction later this afternoon.
We can expect crude oil inventory numbers and any trade war chatter to also have an impact on the day.
The Loonie was up by 0.12% to C$1.3378, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Australia 1st quarter GDP numbers and China’s Caixin Services May PMI provided direction in the early part of the day. A no-deal Brexit remains the worst-case scenario for the Pound, leaving the race to become Theresa May’s successor the key driver near-term. Alongside May’s employment numbers, the market’s preferred ISM non-manufacturing service PMI will be the key drivers. | Australia 1st quarter GDP numbers and China’s Caixin Services May PMI provided direction in the early part of the day. The Day Ahead: For the EUR It’s a particularly busy day ahead on theeconomic calendar Spain and Italy’s May service PMI numbers are due out in the early part of the session. Across the Pond It’s a relatively busy day ahead on theeconomic calendar ADP nonfarm employment change figures are due out ahead of service sector PMI numbers. | Australia 1st quarter GDP numbers and China’s Caixin Services May PMI provided direction in the early part of the day. The Day Ahead: For the EUR It’s a particularly busy day ahead on theeconomic calendar Spain and Italy’s May service PMI numbers are due out in the early part of the session. Barring material deviation from prelim numbers out of France and Germany, Italy service PMI and the Eurozone’s composite PMI will be the key drivers on the PMI front. | The economy had seen a quarterly growth of just 0.2% in the 4th quarter. Service companies continued to add to payrolls, though the pace of hiring eased in May. Barring material deviation from prelim numbers out of France and Germany, Italy service PMI and the Eurozone’s composite PMI will be the key drivers on the PMI front. | 5f02b47d-288c-4ac4-a207-eee956abd248 |
709225.0 | 2019-06-03 00:00:00 UTC | Forex Daily Recap – USD Index Fell 0.5% over Lowest PMI figures since September 2009 | DBO | https://www.nasdaq.com/articles/forex-daily-recap-usd-index-fell-0.5-over-lowest-pmi-figures-september-2009-2019-06-03 | nan | nan | FXEmpire.com -
USD Index
The Greenback had started slumping since May 31 over Fed rate cut fears. The market expected such a rate, seeing the rising 3M-10Y Yield Curve. Today, the Index opened up near the 97.62 bottom levels. In the earlier hours, the USD Index made a good upturn pleasing the investor community. The Index had reached near 97.80 levels or 0.18% up, marking the daily high. However, the weak Greenback failed to hold the morning gains for long and lost over in-line Euro-specific data.
US Dollar Index 60 Min 03 June 2019
Adding to the sour sentiment, the US May Markit Manufacturing PMI reported 50.5 over 50.6 estimates. The Index dropped further as ISM May Manufacturing PMI also missed forecasts. Though ISM May Prices Paid recorded 2.3% higher than the market expectation of 52 points, the Buck continued the downtrend. The USD Index marked the day’s low near 97.49 levels. Any fresh headline from the US-China trade front would have impaired the Buck more severely.
AUD/USD
The Aussie pair made a grand opening near 0.6940 levels conquering fresh monthly highs. The pair continues to stay in uptrend mode since the last day of May. Few lower-than-expected AUD data came out in the early hours. TD Securities May MoM Inflation reported 0.0% over last recorded 0.2%. Also, the Street analysts had hoped the Q1 QoQ Company Gross Operating Profits to report 0.2% higher than the prior 2.8%. Anyhow, actual reports came near 1.7% shocking the market. The pair kept on moving upwards despite such poor AUD events. The Antipodean received further elevation following the release of the Caixin May Manufacturing PMI data. The Chinese PMI reported 50.2 over 50.0 estimates, pushing the AUD/USD pair to 0.6958 levels. Laterwards there was a small correction in the pair’s performance. However, the Aussie pair rallied in the European session over Greenback weakness.
USD/CAD
The USD/CAD pair followed the Greenback’s path and lost most of the last week accumulated gains in Monday’s session. After making the opening near 1.3514 levels, the USD/CAD pair kept plunging throughout the day. Canadian dollar shattered over trade concerns.
USDCAD 60 Min 03 June 2019
Trump’s latest 5% tariffs on all the Mexican goods coming to the US, created havoc among the Loonie Investors. However, any fresh headline on that front helped the pair to limit daily losses. On the events front, Canadian May Markit Manufacturing PMI reported 50.5 over 50.6 estimates. Further adverse reports from the US side sharply hammered the pair, making it drop near 1.3460 levels. Meanwhile, the Crude Oil prices remained in the lower price range of $52.50/54.50 bbl amid trade tensions and recession fears.
EUR/USD
The Fiber sleeves up and heads north in the start of June as Greenback bows down. The EUR/USD pair marked the opening near 1.1173 levels and crossed the 1.1200 psychological level. Amid some sound reports, the pair touched the day’s high near 1.1221 levels in the evening session. Earlier the day, the Switzerland May YoY Consumer Price Index reported in-line with the market hopes of 0.6%.
Moreover, France, Germany, and the European Monetary Union also provided in-line Manufacturing PMI data this time. Notably, the Italian PMI data was quite above-the-consensus reporting near 49.7 over 48.6 forecasts. Falling USD Index provided an extra boost to the overall performance of the strong rival Euro.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | US Dollar Index 60 Min 03 June 2019 Adding to the sour sentiment, the US May Markit Manufacturing PMI reported 50.5 over 50.6 estimates. USDCAD 60 Min 03 June 2019 Trump’s latest 5% tariffs on all the Mexican goods coming to the US, created havoc among the Loonie Investors. This article was originally posted on FX Empire More From FXEMPIRE: Caution Returns to the Markets NZD/USD Forex Technical Analysis – June 12, 2019 Forecast Asia-Pacific Shares Mixed; Hong Kong’s Hang Seng Index Plunges More Than 1.50 Percent The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Though ISM May Prices Paid recorded 2.3% higher than the market expectation of 52 points, the Buck continued the downtrend. On the events front, Canadian May Markit Manufacturing PMI reported 50.5 over 50.6 estimates. Earlier the day, the Switzerland May YoY Consumer Price Index reported in-line with the market hopes of 0.6%. | US Dollar Index 60 Min 03 June 2019 Adding to the sour sentiment, the US May Markit Manufacturing PMI reported 50.5 over 50.6 estimates. The Chinese PMI reported 50.2 over 50.0 estimates, pushing the AUD/USD pair to 0.6958 levels. Amid some sound reports, the pair touched the day’s high near 1.1221 levels in the evening session. | Though ISM May Prices Paid recorded 2.3% higher than the market expectation of 52 points, the Buck continued the downtrend. The USD Index marked the day’s low near 97.49 levels. On the events front, Canadian May Markit Manufacturing PMI reported 50.5 over 50.6 estimates. | f977aef4-9e99-4006-af68-04c14725d33d |
709226.0 | 2019-05-30 00:00:00 UTC | China Data Disappoints as the Trump Trade War Draws in New Targets | DBO | https://www.nasdaq.com/articles/china-data-disappoints-trump-trade-war-draws-new-targets-2019-05-31 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a particularly busy day on theeconomic calendarthrough the Asian session this morning.
In the early part of the session, Japan industrial production, inflation, and retail sales figures provided direction.
The main event, however, was the impact of China’s private sector PMI numbers on market risk sentiment, which came ahead of Australia’s private sector credit figures.
For the Japanese Yen,
Tokyo core consumer prices rose by 1.1% in May, which was softer than a forecasted 1.2% rise and a 1.3% increase in April.
According to figures released by the Ministry of Internal Affairs and Communication,
Rising fuel prices (+4.7%), furniture and household utensil prices (+3.7%) and culture and recreation (+1.4%) supported.
There were also increases in prices for clothing and footwear (+1%), medical care (+1%), education (+0.7%), and housing (+0.6%).
Prices for transportation and communication fell by 0.7%.
While prices for goods increased by 1.7%, year-on-year, prices for services rose by just 0.7% in May.
The Japanese Yen moved from ¥109.566 to ¥109.46 upon release of the figures that preceded production and retail sales data.
Industrial production increased by 0.6% in April, according to prelim figures. The Increase reversed a 0.6% fall in March. Forecasts were for a 0.2% increase. According to prelim figures released by the Ministry of Economy, Trade, and Industry,
Industries that contributed to the increase were: Motor vehicles, production machinery and transport equipment (excl. motor vehicles).
Industries that contributed to a decrease were: General-purpose and business orientated machinery, electronic parts and devices, and inorganic and organic chemicals.
Retail sales rose by 0.5% in April, year-on-year, falling short of a forecasted and March 1% increase.
The Japanese Yen moved from ¥109.418 to ¥109.351 upon releases of the figures. At the time of writing, the Japanese Yen was up by 0.26% to ¥109.34 against the U.S Dollar.
Out of China,
In May, the NBS manufacturing PMI slipped from 50.10 to 49.4, which was worse than a forecasted fall to 49.9. The NSB non-manufacturing sector PMI held steady at 54.3, which was in line with forecasts.
Weighing on market risk sentiment was the contraction in the manufacturing sector. The contraction was attributed to a fall in new export orders and a slower pace of output. Import orders also contracted at a faster pace, pointing to softer domestic demand.
The Aussie Dollar moved from $0.69021 to $0.69092 upon release of the figures that preceded Australia private credit numbers.
For the Aussie Dollar,
Private sector credit increased by 0.2% in April, month-on-month, following a 0.3% rise in March. Forecasts were for a 0.3% rise.
According to figures released by RBA,
Housing credit rose by 0.3% in April, following a 0.3% rise in March, month-on-month.
Personal credit fell by 0.3%, following a 0.3% fall in March.
Business credit stagnated, following a 0.5% increase in March.
Year-on-year private sector credit increased by 3.7%, following a 5% rise in March.
A 2.8% fall in personal credit weighed on the headline number.
The Aussie Dollar moved from $0.69121 to $0.69137 upon release of the figures. At the time of writing, the Aussie Dollar was up 0.03% to $0.6914.
Elsewhere,
At the time of writing, the Kiwi Dollar was up down by 0.02% to $0.6510.
The Day Ahead:
For the EUR
Economic data due out of the Eurozone is on the heavier side. German inflation and retail sales figures are due out along with Italy’s May prelim inflation numbers.
While any softer than expected inflation figures will be negative for the EUR, the focus will likely be on the retail sales figures. Retail sales are forecasted to be EUR negative for April.
Outside of the numbers, trade war chatter will influence through the day. While Trump has moved his attention to Mexico, it may not be long before the spotlight falls on the EU…
At the time of writing, the EUR was up 0.05% to $1.1135.
For the Pound
A quiet week on theeconomic calendarcomes to a close, with no material stats due out on the day.
While there’s been very little major news or progress on Brexit, a shift in the political landscape continues to pin back the Pound. The prospects of a no-deal Brexit have significantly increased following the EU election results and Theresa May’s resignation.
While the race for the Tory Party leadership continues, the real question will be whether there will be a General Election and whether the Tories can hold on. The polls suggest an end to mainstream politics, with the Brexit Party and Liberal Democrats expected to fight for the leadership.
For now, political uncertainty will continue to be negative for the Pound.
At the time of writing, the Pound was up 0.08% to $1.2636.
Across the Pond
Economic data is on the heavier side later this afternoon.
The FED’s preferred Core PCE Price Index figures are due out along with personal spending, Chicago PMI and finalized consumer expectation numbers.
Market focus will likely be on the inflation and personal spending figures on the day.
Concerns over the global economic outlook will increase sensitivity to the personal spending and Chicago PMI numbers.
Barring a material deviation from prelim numbers, the markets will likely brush aside the finalized consumer sentiment numbers.
Outside of the stats, Trump and the administration will continue to influence market risk appetite through the day.
At the time of writing, the Dollar Spot Index was down 0.03% to 98.110.
For the Loonie
It’s another big day for the Loonie. 1st quarter GDP and April RMPI figures are due out this afternoon.
While the focus will be on the March, month-on-month GDP number, we can expect the Loonie to be sensitive to any soft figures on the day. Forecasts are Loonie positive.
Outside of the stats, any further downside in crude oil prices would pressure the Loonie further. This morning’s manufacturing PMI numbers out of China won’t have helped…
The Loonie was down 0.21% at C$1.3529, against the U.S Dollar, at the time of writing, with a slide in crude oil prices weighing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Industries that contributed to a decrease were: General-purpose and business orientated machinery, electronic parts and devices, and inorganic and organic chemicals. The FED’s preferred Core PCE Price Index figures are due out along with personal spending, Chicago PMI and finalized consumer expectation numbers. This morning’s manufacturing PMI numbers out of China won’t have helped… The Loonie was down 0.21% at C$1.3529, against the U.S Dollar, at the time of writing, with a slide in crude oil prices weighing. | The main event, however, was the impact of China’s private sector PMI numbers on market risk sentiment, which came ahead of Australia’s private sector credit figures. The FED’s preferred Core PCE Price Index figures are due out along with personal spending, Chicago PMI and finalized consumer expectation numbers. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Forecast – Gold markets pull back from major resistance Natural Gas Price Forecast – Natural gas markets stabilize S&P 500 Price Forecast – Stock markets gap higher to kick off week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The main event, however, was the impact of China’s private sector PMI numbers on market risk sentiment, which came ahead of Australia’s private sector credit figures. This morning’s manufacturing PMI numbers out of China won’t have helped… The Loonie was down 0.21% at C$1.3529, against the U.S Dollar, at the time of writing, with a slide in crude oil prices weighing. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Forecast – Gold markets pull back from major resistance Natural Gas Price Forecast – Natural gas markets stabilize S&P 500 Price Forecast – Stock markets gap higher to kick off week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Forecasts were for a 0.2% increase. According to prelim figures released by the Ministry of Economy, Trade, and Industry, Industries that contributed to the increase were: Motor vehicles, production machinery and transport equipment (excl. According to figures released by RBA, Housing credit rose by 0.3% in April, following a 0.3% rise in March, month-on-month. | 44dd351e-a7fc-4a89-83c0-46099de312d0 |
709227.0 | 2019-05-30 00:00:00 UTC | Forex Daily Recap – Yet Another Disappointing Session for the Fiber | DBO | https://www.nasdaq.com/articles/forex-daily-recap-yet-another-disappointing-session-fiber-2019-05-30 | nan | nan | FXEmpire.com -
EUR/USD
Fiber continued suffering pullbacks on Thursday’s trading session, though minor ones. The EUR/USD pair marked a fresh weekly low near 1.1117 levels in the European session. On account of Ascension Day, the Banks in Germany, Switzerland, and France remained closed throughout the day. However, from the EU side, HICP and CPI data came out for Spain at 07:00 GMT. The May HICP MoM and YoY figures reported lower than market expectation. Whereas, the May CPI showed reports above consensus for monthly data and yearly data missed estimates. Anyhow, there appeared less impact from these low volatile event outcomes on the pair’s movements.
EURUSD 60 Min 30 May 2019
The significant move occurred after the release of positive US Unemployment data. With Continuing Jobless Claims computed since May 17 reporting a lower-than-expected figure, the Fiber lost traction and slipped. The pair then precisely dropped from 1.1141 levels to 1.1118 levels. Fortunately, the EUR/USD pair got a helping hand laterwards on the back of weak US Pending Home Sales data. The pair was trading near 1.1137 levels at around 16:54 GMT.
AUD/USD
The Aussie pair marked yet another disappointing trading session on Thursday. After opening near 0.6921 levels today, the pair had displayed an excellent upward drift in the morning hours. The market expected the April Aussie MoM Building Permits to report 0.0% to the previous -13.4%. However, the actual reports turned out to a negative figure, i.e., 4.7%. Following such a release, the pair made the day’s first slump from 0.6929 levels to 0.6919 levels. In the next couple of morning hours, the pair kept fluctuating between 0.6937 levels and 0.6927 levels as a consequence of AUD-specific events. The pair lost ground in the European session as Greenback elevated on positive Unemployment data. AUD/USD pair had then touched the bottom near 0.6900 levels, marking daily low.
USD/CAD
The Loonie pair had started the week near 1.3437 levels, and the pair was at the monthly high yesterday. Anyhow the weekly gains appeared to evaporate since last day’s North American session. The pair extended the same plunge rally into today’s session dropping near 1.3483 levels. High Crude prices over lower-than-expected API Weekly Oil Stockpile data pushed the Loonie up. Nevertheless, there was an opposite reaction on the USD/CAD pair making it slip. The fall in the pair received a stoppage when US Unemployment data showed positive reports.
USDCAD 60 Min 30 May 2019
Further gains of the Loonie pair remained capped amid weak US Core Personal Consumption Expenditures (PCE) data. At around 15:00 GMT, the EIA Crude Oil Stocks Change calculated since May 24, reported higher figures than the market estimates. The Street had hoped the EIA reports to come around -0.857 million. Somehow, the actual reports revealed -0.282 million. The Loonie pair made a ten pips jump following the Crude sparse data.
US Dollar Index
The Greenback continued to sustain near healthy 98 levels throughout the day and holds its current safe-haven position. The Index had made the day’s opening near 98.12 levels and was trading near the same levels at 17:35 GMT. Earlier the day, the Index found strength out of its falling rivals. The US Dollar Index had then touched the day’s first high near 98.22 levels. However, the gains were short-lived and dropped again to the opening levels amid some positive Spain data. Buck’s second move in the European session was instead a stronger one, allowing it to knock off weekly top levels. The Continuing Jobless Claims computed since May 17 reported 5K lower than expectation boosting the Greenback gains. Meanwhile, US April MoM Pending Home Sales recorded -1.5% over 0.9% estimates. This Home Sales data at last brought down the Greenback again to the opening levels.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | USDCAD 60 Min 30 May 2019 Further gains of the Loonie pair remained capped amid weak US Core Personal Consumption Expenditures (PCE) data. At around 15:00 GMT, the EIA Crude Oil Stocks Change calculated since May 24, reported higher figures than the market estimates. US Dollar Index The Greenback continued to sustain near healthy 98 levels throughout the day and holds its current safe-haven position. | With Continuing Jobless Claims computed since May 17 reporting a lower-than-expected figure, the Fiber lost traction and slipped. The Continuing Jobless Claims computed since May 17 reported 5K lower than expectation boosting the Greenback gains. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – June 10, 2019 Forecast Gold Price Futures (GC) Technical Analysis – June 10, 2019 Forecast Natural Gas Price Forecast – Natural gas markets stabilize The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Following such a release, the pair made the day’s first slump from 0.6929 levels to 0.6919 levels. The Loonie pair had started the week near 1.3437 levels, and the pair was at the monthly high yesterday. The Index had made the day’s opening near 98.12 levels and was trading near the same levels at 17:35 GMT. | The EUR/USD pair marked a fresh weekly low near 1.1117 levels in the European session. With Continuing Jobless Claims computed since May 17 reporting a lower-than-expected figure, the Fiber lost traction and slipped. The Index had made the day’s opening near 98.12 levels and was trading near the same levels at 17:35 GMT. | 58e95abb-e7b2-4c71-91aa-b1ffb51bcd6b |
709228.0 | 2019-05-22 00:00:00 UTC | UK Inflation, EU Elections and the FED Minutes Put the GBP and USD in Focus | DBO | https://www.nasdaq.com/articles/uk-inflation-eu-elections-and-fed-minutes-put-gbp-and-usd-focus-2019-05-22 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session was on the heavier side this morning. Key stats included New Zealand 1st quarter retail sales figures, Japan’s April trade data and March core machinery orders. Later in the morning Australia 1st quarter construction work done numbers also provided direction.
For the Kiwi Dollar,
Quarter-on-quarter, retail sales increased by 0.7% in the 1st quarter, following a 1.7% rise in the 4th quarter. Forecasts were for a 0.6% rise in the quarter.
According to figures released by NZStats,
A pickup in department store and hardware and building supply sales were attributed to the rise in retail sales.
Department store sales jumped by 4.4%, with hardware, building and garden supply sales up by 3.0%.
Weighing on sales were a 4.7% fall in accommodation and a 5.7% slide in pharmaceutical and other store-based retailing.
While sales volumes were on the rise, sales value increased by just 0.2%.
The Kiwi Dollar moved from $0.65071 to $0.65075 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.09% to $0.6501.
For the Japanese Yen,
Japan’s trade surplus narrowed from ¥528bn to ¥60.4bn in April. Forecasts were for a narrowing to ¥203.2bn.
According to figures released by Ministry of Finance, exports fell by 2.4% to ¥6.659bn, while imports jumped by 6.4% to ¥6.598bn.
Exports to China fell by 6.3%, while exports to the U.S increased by 9.6%.
To Western Europe, exports also saw red, falling by 7%, with exports to Germany and the UK falling by 2.1% and 10.4% respectively.
While April trade figures were a negative, March core machinery orders impressed. According to the latest Cabinet Office Survey, month-on-month, core machinery orders increased by 3.8%, coming in well ahead of a forecasted 0.7% fall. Orders increased by 1.8% in February.
Year-on-year, orders slipped by 0.7%, which was better than a forecast 3.4% slide. Orders had fallen by 5.5% in February.
The Japanese Yen moved from ¥110.588 to ¥110.557 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.01% to ¥110.51 against the U.S Dollar.
For the Aussie Dollar,
Construction work done fell by 1.9% in the 1st quarter, following on from a 3.1% slide in the 4th quarter. Forecasts were for a 0.4% rise.
According to the ABS, a 3.9% slide in engineering and a 2.5% fall in residential work done weighed on the headline figure. Also in decline was building work down, while fell by 0.4% in the quarter. Bucking the trend in the quarter was a 3.6% increase in non-residential construction work done.
The Aussie Dollar moved from $0.68788 to $0.8811 upon release of the figures. At the time of writing, the Aussie Dollar was down 0.01% to $0.6882.
The Day Ahead:
For the EUR,
It’s a particularly quiet day ahead on theeconomic calendar with no material stats due out today.
While there are no material stats due out, ECB President Draghi is scheduled to speak later this morning and could provide some early movement.
Outside of the stats, the influence of the U.S – China trade war will be ever-present. From Brussels, the EUR has yet to show any response to the EU parliamentary polls. Things could change as the week progresses, however, should anti-EU sentiment appear to be in the hot seat as the UK and the Netherlands vote tomorrow.
At the time of writing, the EUR was down by 0.02% to $1.1159.
For the Pound,
It’s another relatively busy day ahead on theeconomic calendar April inflation figures are due out of the UK later this morning.
Forecasts are for the annual rate of inflation to accelerate from 1.9% to 2.2% in April, which is Sterling positive. The closely watched wholesale inflation figures are also forecasted to bounce, with the PPI Input forecasted to rise by 1.3% in April, month-on-month.
In line with or better than forecasted figures would support the BoE’s latest outlook on inflation and monetary policy.
While any pickup in inflationary pressure will be positive for the Pound, the direction remains hinged on this week’s EU Parliamentary elections, Brexit and who’s next in line for the top job.
For now, the markets appear to be pricing in a Boris Johnson, no-deal Brexit combo. It all hinges on this weekend’s results. If the Tories get slaughtered, the Pound may well suffer the same demise.
At the time of writing, the Pound was up 0.06% to $1.2714.
Across the Pond,
There are no material stats scheduled for release through the day. With no material stats due out, the focus will be on FOMC member chatter ahead of the FOMC Meeting minutes due out later this afternoon.
Will the minutes reflect any bias towards a 4th quarter rate hike or will FOMC members be comfortable with inflation and economic indicators of late?
We’ve yet to see any dire numbers from the U.S, but as the trade war continues, there may be some raised eyebrows among the more dovish FED members…
At the time of writing, the Dollar Spot Index was down 0.05% to 98.013.
For the Loonie,
It’s a busier day ahead. March retail sales figures are due out later this afternoon. Figures in line with or better than forecast will likely provide support.
The numbers will need to be impressive, however, to give the BoC reason to be more hawkish at next week’s BoC monetary policy meeting.
Outside of the numbers, crude oil prices will also influence later in the day.
The Loonie was up 0.01% at C$1.3404, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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USD/JPY Price Forecast – US dollar looking for support
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats included New Zealand 1st quarter retail sales figures, Japan’s April trade data and March core machinery orders. While any pickup in inflationary pressure will be positive for the Pound, the direction remains hinged on this week’s EU Parliamentary elections, Brexit and who’s next in line for the top job. We’ve yet to see any dire numbers from the U.S, but as the trade war continues, there may be some raised eyebrows among the more dovish FED members… At the time of writing, the Dollar Spot Index was down 0.05% to 98.013. | Key stats included New Zealand 1st quarter retail sales figures, Japan’s April trade data and March core machinery orders. For the Pound, It’s another relatively busy day ahead on theeconomic calendar April inflation figures are due out of the UK later this morning. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets continue to fall S&P 500 Price Forecast – Stock markets all over the place USD/JPY Price Forecast – US dollar looking for support The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats included New Zealand 1st quarter retail sales figures, Japan’s April trade data and March core machinery orders. For the Kiwi Dollar, Quarter-on-quarter, retail sales increased by 0.7% in the 1st quarter, following a 1.7% rise in the 4th quarter. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets continue to fall S&P 500 Price Forecast – Stock markets all over the place USD/JPY Price Forecast – US dollar looking for support The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Forecasts were for a 0.6% rise in the quarter. At the time of writing, the Pound was up 0.06% to $1.2714. Across the Pond, There are no material stats scheduled for release through the day. | cba2bd5c-264d-4d41-8f8d-a898b5b4505f |
709229.0 | 2019-05-22 00:00:00 UTC | EU Elections, Economic Data and the Trade War to Drive the EUR, GBP and USD | DBO | https://www.nasdaq.com/articles/eu-elections-economic-data-and-trade-war-drive-eur-gbp-and-usd-2019-05-23 | nan | nan | FXEmpire.com -
Earlier in the Day:
Following a relatively busy Wednesday, Japan’s May prelim manufacturing PMI figures provided direction through the early part of the day.
The lack of stats left the markets to respond to trade war chatter and the FOMC meeting minutes released late on Wednesday.
Another consideration through the Asian session this morning was Brexit and the EU Parliamentary elections that are expected to bring an early end to British Prime Minister Theresa May’s political career.
For the Japanese Yen,
According to prelim figures, the Manufacturing PMI fell from 50.2 to 49.6 in May. Forecasts were for a rise to 50.5.
While new orders fell at a slower rate, new export orders decreased at a fast rate in May.
Both output and new orders decreased for a 5th consecutive month.
Businesses became pessimistic about the year ahead for the first time in six-and-a-half years.
The Japanese Yen moved from ¥110.224 to ¥110.218 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.09% to ¥110.26 against the U.S Dollar.
Elsewhere,
At the time of writing, the Kiwi Dollar was down by 0.09% to $0.6489, with the Aussie Dollar down 0.13% to $0.6873.
Trade war jitters weighed on the pair early on, as the U.S looks to turn the screw on China in the extended trade war.
In the equity markets
The Nikkei and ASX200 were down by 0.82% and by 0.32% early in the session. The threat of more Chinese companies being blacklisted suggests that there could be more pain to come in the U.S – China trade war.
For the Hang Seng and CSI300, things were not much better, with the pair down by 1.06% and 0.57% respectively.
The Day Ahead:
For the EUR
It’s a particularly busy day ahead on the economic calendar. 2nd estimate German GDP numbers, member state prelim May private sector PMIs and Germany’s IFO Business climate index figures are due out.
Barring deviation from 1st estimate GDP numbers, the focus will be on Germany’s manufacturing PMI and IFO business climate figures.
Outside of the stats, the ECB monetary policy meeting minutes are due out, which will have an influence on the EUR.
While the EU election results are not due out until the weekend, both Britain and the Netherlands vote today. A vote in favor of the Brexit Party would point towards a hard Brexit, which would be negative for the Pound and, to a lesser extent, the EUR. The focus has been on the UK and the Brexit Party, will there be any surprises in the weekend results?
At the time of writing, the EUR was up by 0.02% to $1.1152.
For the Pound
There are no material stats scheduled for release through the day. The focus will be on the EU parliamentary elections and events in the UK Parliament.
Theresa May’s days appear to be numbered. She may not make it to the weekend to face a likely in party backlash. The Tories will blame the PM, but the divisions in the ranks since the EU Referendum are ultimately to blame.
At the time of writing, the Pound was down 0.13% to $1.2649.
Across the Pond
Economic data is on the heavier side this afternoon. Prelim private sector PMI numbers, weekly jobless claims figures, and new home sales numbers are due out this afternoon.
Barring particularly dire weekly jobless claims figures, the market focus will likely be on the private sector PMI numbers. Of greater influence will be the prelim service sector PMI on the day.
Outside of the numbers, demand for U.S Treasuries could build on expectations of a Brexit Party victory in the EU and an end to Theresa May’s leadership. Any trade war chatter will also need to be considered.
At the time of writing, the Dollar Spot Index was up 0.07% to 98.107.
For the Loonie
It’s a quieter day ahead on the economic calendar. March wholesale sales figures are due out this afternoon.
While we can expect the Loonie to respond to the numbers, trade war chatter and private sector PMI numbers from the Eurozone and the U.S will likely influence crude oil prices and the Loonie through the day.
A combination of dire numbers and increased trade war tension would leave the Bank of Canada in an extended holding pattern. The Bank of Canada is due to deliver its May policy decision next week.
The Loonie was down 0.08% at C$1.3446, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The lack of stats left the markets to respond to trade war chatter and the FOMC meeting minutes released late on Wednesday. Another consideration through the Asian session this morning was Brexit and the EU Parliamentary elections that are expected to bring an early end to British Prime Minister Theresa May’s political career. 2nd estimate German GDP numbers, member state prelim May private sector PMIs and Germany’s IFO Business climate index figures are due out. | 2nd estimate German GDP numbers, member state prelim May private sector PMIs and Germany’s IFO Business climate index figures are due out. Prelim private sector PMI numbers, weekly jobless claims figures, and new home sales numbers are due out this afternoon. While we can expect the Loonie to respond to the numbers, trade war chatter and private sector PMI numbers from the Eurozone and the U.S will likely influence crude oil prices and the Loonie through the day. | FXEmpire.com - Earlier in the Day: Following a relatively busy Wednesday, Japan’s May prelim manufacturing PMI figures provided direction through the early part of the day. Prelim private sector PMI numbers, weekly jobless claims figures, and new home sales numbers are due out this afternoon. While we can expect the Loonie to respond to the numbers, trade war chatter and private sector PMI numbers from the Eurozone and the U.S will likely influence crude oil prices and the Loonie through the day. | Trade war jitters weighed on the pair early on, as the U.S looks to turn the screw on China in the extended trade war. At the time of writing, the EUR was up by 0.02% to $1.1152. While we can expect the Loonie to respond to the numbers, trade war chatter and private sector PMI numbers from the Eurozone and the U.S will likely influence crude oil prices and the Loonie through the day. | 3fe84249-8d02-4686-96dd-280268534ad9 |
709230.0 | 2019-05-22 00:00:00 UTC | Forex Daily Recap – FOMC Minutes Revealed No Rate Change in the Near Period | DBO | https://www.nasdaq.com/articles/forex-daily-recap-fomc-minutes-revealed-no-rate-change-near-period-2019-05-22 | nan | nan | FXEmpire.com -
US Dollar Index
The Greenback that weighs against the six significant rivals currencies sustained near 98 top levels today. Fed minutes indicated no as such urgency among FOMC members to observe a rate surge. The minutes highlighted that there remained no severe concerns from the global cues like Brexit and Trade war. In a nutshell, the Fed would keep the rates unchanged for the next couple of months. The USD Index showcased 4-6 pips upward movement following the minutes’ release. Earlier the day, the Greenback had remained highly volatile jumping between highs and lows. Investors continued to stay anxious over the rising US-Sino trade tensions. Some reports suggested that the US is planning to blacklist a few other Chinese Surveillance firms running in the US, like Huawei.
USD Index 60 Min 22 May 2019
GBP/USD
During the Asian opening session, the Cable made a downshift amid Brexit uncertainties. Last night, Theresa May presented her “new improvised deal” to the MPs. The main highlights of the deal were the Customs Union and the Second Referendum. The Tories had mentioned their disagreement yesterday itself. May had introduced the Customs Union section over demand from the Corbyn’s Labor. Hence, the PM expects strong support from the Labor in her Fourth attempt. However, in the early session, a Labor party representative hinted that they don’t agree to May’s latest deal. Cable investors went unnerved over rising odds of May losing again.
Meanwhile, talks continued on May’s resignation. Speculations suggested that her former Foreign Secretary Boris Johnson may become the next PM. Johnson had also served as the Mayor of London. On the events front, positive UK April Retail Price Index attempted to provide an upward drift. Nonetheless, lower-than-expected CPI and PPI figures pushed the Cable more down. The GBP/USD pair had touched the four-month low near 1.2624 levels.
USD/CAD
Loonie traders stood worried earlier the day seeing the plunge rally in the pair. The Oil prices had shot up in the Asian session amid OPEC+ proclaims production cuts. On the other hand, Russia remained reluctant for a supply cut. Such contrasting opinions among the OPEC+ members made the Crude steady thereon. Crude price change has an inverse impact on the USD/CAD pair. Hence, the pair was down in the morning. Later in the European session, Canadian March Retail Sales figures came out. The reports were above the market expectation. Following such positive reports, the Loonie lost another slot of around 40 pips. The pair had then reached the lowest point near 1.3355 levels today. However, the pair reversed the trend as the Oil slumped on the release of EIA Crude Stocks Change report. This EIA Inventory report computed since May 17 recorded 4.740 million figure.
USDCAD 60 Min 22 May 2019
On the contrary, the market had expected a negative number this time. Hence, such a vast inventory revealing report pushed the Loonie 0.58% upwards. The pair marked the day’s high near 1.3434 healthy resistance levels.
AUD/USD
The Aussie pair maintained seesawed performance throughout the day. Robust support lines near 0.6873 levels made the pair bounce upwards three times today. Earlier the day, the Westpac April MoM Leading Index came near negative 0.1% over previous 0.3%. Also, Q1 Construction Work Done reported negative 1.9% over 0.0% forecast. The AUD/USD pair dropped around 0.19% following such adverse reports. The pair had marked the day’s high near 0.6897 levels. In the second half of the day, the earlier accumulated gains got vapourised amid rising Greenback. The Index had aroused from 97.90 levels, straight to 98.06 levels.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - US Dollar Index The Greenback that weighs against the six significant rivals currencies sustained near 98 top levels today. On the events front, positive UK April Retail Price Index attempted to provide an upward drift. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis – June 4, 2019 Forecast Fibonacci Support may Signal Bounce in Oil & Equities USD/CAD Daily Forecast – Powell’s Rate Cut Response in Focus The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The USD Index showcased 4-6 pips upward movement following the minutes’ release. On the events front, positive UK April Retail Price Index attempted to provide an upward drift. Robust support lines near 0.6873 levels made the pair bounce upwards three times today. | Robust support lines near 0.6873 levels made the pair bounce upwards three times today. The pair had marked the day’s high near 0.6897 levels. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis – June 4, 2019 Forecast Fibonacci Support may Signal Bounce in Oil & Equities USD/CAD Daily Forecast – Powell’s Rate Cut Response in Focus The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The main highlights of the deal were the Customs Union and the Second Referendum. Speculations suggested that her former Foreign Secretary Boris Johnson may become the next PM. The pair had marked the day’s high near 0.6897 levels. | da063b1a-e26d-4b5f-b894-ea242cb7a35a |
709231.0 | 2019-05-21 00:00:00 UTC | Forex Daily Recap – RBA Minutes Hinted for a Rate Cut Triggering Heavy Selling in the Aussie Pair | DBO | https://www.nasdaq.com/articles/forex-daily-recap-rba-minutes-hinted-rate-cut-triggering-heavy-selling-aussie-pair-2019-05 | nan | nan | FXEmpire.com -
AUD/USD
The Aussie pair opened up on Tuesday morning displaying a steep fall of around 0.73%. The heavy selling pressure was following the release of RBA meeting minutes. As per reports, the Bank had alluded that it may opt for a rate cut in June. “As in the previous meeting, members discussed the scenario where inflation did not move any higher and unemployment trended up, recognizing that in those circumstances a decrease in the cash rate would likely be appropriate.”, the minutes read.
GBPUSD 240 Min 21 May 2019
The Bank Officials have noted that unemployment in the nation was increasing multifold and increasing cash flow was the best option left. Hence, the Bank Officials hinted that they might decrease the interest rates soon. The AUD/USD pair continued to move range-bounded between 0.6865/85 levels thereon. The pessimistic sentiment around the USD Index helped the pair to recover some part of the losses incurred earlier the day. However, the AUD bears combined with the USD bears restrained the Aussie pair from moving upwards.
EUR/USD
The Euro pair was showing some good recovery signs since last few sessions. The pair had dropped significantly in the opening hours, reaching near 1.1140 levels. The earlier hammering in the EUR/USD pair was due to the robust growing USD Index. The Greenback was up in the Asian trading session as the market expected a bullish Home Sales data this time. However, the US April MoM Existing Home Sales came out lower than estimates, recording 5.19 million. All the gains developed over mere expectation got evaporated. The US Dollar Index slipped from 98.10 levels to 97.85 levels, or 0.26% drop. Quite impressively, the major Greenback rival – “EUR/USD” took advantage of the scenario and jumped 0.31%. Along with the Dollar plunge, higher-than-expected Eurozone May Consumer Confidence Index supported the Euro upliftment. The Index had reported a negative 6.5 over a negative 7.6 forecast.
GBP/USD
In the Asian session, the GBP/USD pair was trading near 1.2727 levels. Laterwards, the pair took a downturn reaching near 1.2689 levels. This plunge in the pair occurred after the UK Treasury Committee inflation report hearings. The report stood negative, and the sentiments of inflation hitting the UK’s economy pushed the cable down. Also, the release of CBI’s May Industrial Trends Survey Orders MoM added in ‘pair’s pullback. The Survey appeared negative 10 points than anticipated negative 5 points. After 11:15 GMT, there was a reverse picture with the pair. The cable shot up, reaching 1.2743 levels in the morning session. Today, the UK Prime Minister met the cabinet to discuss the improvised Brexit-deal. Following the PM’s stance, investors remained optimistic on Brexit and increased demand for GBP. During the European session, the Greenback stood reluctant to the bearish US economic data and continued to move upwards. The rising US Dollar Index pushed the GBP/USD pair downwards.
AUDUSD 60 Min 21 May 2019
USD/CAD
The Loonie remained slightly seesawed throughout the day. The USD/CAD pair marked the day’s low near 1.3395 levels. The pair had slumped over rising Oil prices and USD fall. OPEC-led supply cuts and the Middle East tensions drove the Crude prices upwards. The Crude Oil WTI Futures knocked off the day’s high near $63.80 per barrel. In the meanwhile, US-Iran disputes continued set investors under fear. However, the rising uncertainties revolving around US-Sino trade talks capped the crude gains.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | “As in the previous meeting, members discussed the scenario where inflation did not move any higher and unemployment trended up, recognizing that in those circumstances a decrease in the cash rate would likely be appropriate.”, the minutes read. The pessimistic sentiment around the USD Index helped the pair to recover some part of the losses incurred earlier the day. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Mid-Session Technical Analysis for June 3, 2019 EUR/USD Price Forecast – Euro rallies into resistance E-mini S&P 500 Index (ES) Futures Technical Analysis – June 3, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Greenback was up in the Asian trading session as the market expected a bullish Home Sales data this time. The report stood negative, and the sentiments of inflation hitting the UK’s economy pushed the cable down. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Mid-Session Technical Analysis for June 3, 2019 EUR/USD Price Forecast – Euro rallies into resistance E-mini S&P 500 Index (ES) Futures Technical Analysis – June 3, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The AUD/USD pair continued to move range-bounded between 0.6865/85 levels thereon. In the Asian session, the GBP/USD pair was trading near 1.2727 levels. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Mid-Session Technical Analysis for June 3, 2019 EUR/USD Price Forecast – Euro rallies into resistance E-mini S&P 500 Index (ES) Futures Technical Analysis – June 3, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As per reports, the Bank had alluded that it may opt for a rate cut in June. In the Asian session, the GBP/USD pair was trading near 1.2727 levels. The USD/CAD pair marked the day’s low near 1.3395 levels. | 570ed253-0dcf-4c3d-b197-89b7464a310d |
709232.0 | 2019-05-20 00:00:00 UTC | RBA Rate Cut Talk Pins Back the Aussie Dollar as Trade Remains in Focus | DBO | https://www.nasdaq.com/articles/rba-rate-cut-talk-pins-back-aussie-dollar-trade-remains-focus-2019-05-21 | nan | nan | FXEmpire.com -
Earlier in the Day:
There were no material stats released through the Asian session to provide the majors with direction.
Outside of the numbers, the RBA released its monetary policy meeting minutes from the 7th May meeting.
For the Aussie Dollar,
The RBA monetary policy meeting minutes struck a dovish note, which was largely in line with the RBA Statement on Monetary Policy released back on 10th May.
Salient points from the minutes were as follows:
Growth in Australia’s major trading partners had slowed, largely attributed to slower growth in China.
Targeted stimulus measures in China appeared to be having an effect and global financial conditions remained very accommodative.
In advanced economies, inflation remained subdued in spite of strong labor market conditions and wage growth.
Domestically,
Household income growth had remained low and the March quarter inflation data indicated that inflationary pressures were lower than previously thought.
The Bank’s goals of reducing unemployment and returning inflation towards the midpoint are now anticipated to occur at a more gradual pace than previously expected.
GDP growth has been revised lower in the near-term but is expected to pick up to around 2.75% over 2019 and 2020.
The unemployment rate is expected to remain at around 5% over 2019 and 2020 before falling to 4.75% in 2021.
This implied spare capacity would remain in the economy for some time. On this basis, underlying inflation was expected to be 1.75% over 2019, 2% over 2020 and a little higher after that.
The central forecast scenario was based on the usual technical assumption that the cash rate followed the path implied by market pricing, pointing to lower interest rates over the next 6-months.
Members noted that there were risks to the forecasts in both directions.
Risks to the global economy remained titled to the downside.
Domestically, the outlook for household consumption remained a key uncertainty, with risks also titled to the downside.
On the upside, it was possible to combine the effects of continued accommodative financial conditions, the increase in Australia’s terms of trade, a renewed expansion in the resources sector and the expected lift in household disposable income. The combination would result in strong growth in output than in the central forecast scenario.
Members noted that a decrease in the cash rate would be appropriate if inflation did not move higher and unemployment trended higher.
Members agreed that it was important to continue to pay close attention to developments in the labor market.
The Aussie Dollar moved from $0.69228 to $0.69130 upon release of the minutes. At the time of writing, the Aussie Dollar was up 0.04% to $0.6911, with RBA Governor Lowe next up for the Aussie Dollar.
Elsewhere,
At the time of writing, the Japanese Yen was down by 0.07% to ¥110.14 against the U.S Dollar, while the Kiwi Dollar was up by 0.02% to $0.6535. The early moves came in spite of trade war jitters plaguing the global equity markets.
In the equity markets, the ASX200 gave up some of its Federal Election result gains, down by 0.2%, at the time of writing. The Nikkei was down by 0.32%, with the Hang Seng down by just 0.08%.
Bucking the trend early on was the CSI300, which was up by 0.67%, partially reversing Monday’s heavy losses.
The Day Ahead:
For the EUR.
It’s another quiet day on theeconomic calendar with just the Eurozone’s consumer confidence flash figures due out later today.
With little else for the markets to consider, we can expect the EUR to remain sensitive to today’s data. Last month, the EUR took a tumble on weaker numbers.
Outside of the stats, market risk sentiment will influence through the day. On top of the trade war chatter, the EU parliamentary elections will likely begin to creep into the market’s purview.
At the time of writing, the EUR was flat at $1.1166.
For the Pound,
It’s a relatively busy day on theeconomic calendar May CBI Industrial Trend Orders figures are due out this afternoon. While the figures have had a tendency to be overoptimistic, the BoE Inflation Report Hearings, taking place earlier in the day will likely overshadow the numbers.
BoE Governor Carney had recently spoken of the markets not reflecting a more aggressive rate path. An anticipated pickup in inflationary pressures is one of Carney’s concerns. Today’s hearings could raise the prospects of a near-term rate hike should the BoE see inflationary pressures building.
Geopolitical risk will remain the key driver, however. Theresa May’s Brexit deal, Nigel Farage and the Brexit Party and Theresa May’s successor are key drivers near-term. It’s a combination that continues to leave a no-deal Brexit scenario on the table…
At the time of writing, the Pound was up 0.02% to $1.2728.
Across the Pond,
May existing home sales figures are due out later this afternoon. While forecasted Dollar positive, the numbers are unlikely to have a material impact on the Greenback.
The extended U.S – China trade war continues to be the main area of focus. The fallout from Trump’s blacklisting of Huawei last week has been significant and this is likely to materially impact any progress on trade talks near-term.
At the time of writing, the Dollar Spot Index was up 0.02% to 97.954.
For the Loonie
It’s another quiet day on theeconomic calendar The Loonie has found strong support from a pickup in crude oil prices, with a lack of economic data turning out to be a positive influence.
While concerns over the ongoing U.S – China trade war are negative, OPEC’s pledge to manage supply is positive. The Loonie’s going to need more than a pickup in crude oil prices, however, ahead of next week’s Bank of Canada monetary policy decision.
The Loonie was up 0.02% at C$1.3426, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Domestically, Household income growth had remained low and the March quarter inflation data indicated that inflationary pressures were lower than previously thought. On the upside, it was possible to combine the effects of continued accommodative financial conditions, the increase in Australia’s terms of trade, a renewed expansion in the resources sector and the expected lift in household disposable income. This article was originally posted on FX Empire More From FXEMPIRE: Silver Weekly Price Forecast – Silver markets form supportive weekly candle Gold Price Forecast – Gold markets break out Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/06/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In advanced economies, inflation remained subdued in spite of strong labor market conditions and wage growth. For the Loonie It’s another quiet day on theeconomic calendar The Loonie has found strong support from a pickup in crude oil prices, with a lack of economic data turning out to be a positive influence. This article was originally posted on FX Empire More From FXEMPIRE: Silver Weekly Price Forecast – Silver markets form supportive weekly candle Gold Price Forecast – Gold markets break out Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/06/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, The RBA monetary policy meeting minutes struck a dovish note, which was largely in line with the RBA Statement on Monetary Policy released back on 10th May. At the time of writing, the Aussie Dollar was up 0.04% to $0.6911, with RBA Governor Lowe next up for the Aussie Dollar. This article was originally posted on FX Empire More From FXEMPIRE: Silver Weekly Price Forecast – Silver markets form supportive weekly candle Gold Price Forecast – Gold markets break out Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/06/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Domestically, Household income growth had remained low and the March quarter inflation data indicated that inflationary pressures were lower than previously thought. The early moves came in spite of trade war jitters plaguing the global equity markets. While forecasted Dollar positive, the numbers are unlikely to have a material impact on the Greenback. | 3ff72e33-d06a-4231-ab3b-e1edaf006b9e |
709233.0 | 2019-05-19 00:00:00 UTC | Aussie Dollar Makes a Move, While Trade War Jitters Linger | DBO | https://www.nasdaq.com/articles/aussie-dollar-makes-move-while-trade-war-jitters-linger-2019-05-20 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side. Japan’s 1st quarter GDP figures provided direction early on. Later this morning, finalized March industrial production figures are also due out of Japan. Forecasts are for production to fall by 0.9%, which are in line with prelim. Production had risen by 0.7% in February.
For the Japanese Yen,
The Japanese economy grew by 0.5% in the 1st quarter, which was far better than a forecasted 0.1% contraction. Year-on-year the economy grew by 2.1% in the 1st quarter, which was well ahead of a forecast 0.2% contraction.
The economy grew by a revised 0.4% in 4th quarter year-on-year and by a revised 1.6%, year-on-year. According to figures released by Japan’s cabinet office.
Imports slid by 4.6%, quarter-on-quarter, while exports fell by a lesser 2.4%, which provided the largest contribution to GDP in the quarter.
Private consumption fell by 0.1%.
The Japanese Yen moved from ¥110.123 to ¥110.257 upon release of the figures that preceded the industrial production numbers. At the time of writing, the Japanese Yen was down by 0.13% to ¥110.22 against the U.S Dollar.
Elsewhere,
At the time of writing, the Aussie Dollar was up 0.68% to $0.6915, early support coming off the back of the surprise election result on the weekend. The Kiwi Dollar was also on the rise, up by 0.26% to $0.6536.
In the equity markets, the major indexes were on the move. The ASX200 was up by 1.60% supported by the Federal Election result. At the time of writing, the Nikkei was also up, gaining 0.27% supported by the softer Japanese Yen.
Hitting reverse, however, were the CSI300 and Hang Seng, which were down by 1.02% and 0.51% respectively.
Hopes of a resolution to the extended trade war remain, following news of a conversation between China’s Foreign Minister Yi and Secretary of State Pompeo.
In spite of the lingering hopes that has prevented the global equity markets from sinking, pressure on China and HK stocks remained. News of U.S tech companies halting the supply of software and components to Huawei weighed on tech stocks.
Sunny Optical Tech led the way down on the Hang Seng, down by 4.92% at the time of writing. Tencent Holdings was also deep in the red, down by 2.36%.
The Day Ahead:
For the EUR,
It’s a particularly quiet day ahead on the economic data front. Germany wholesale inflation figures due out later this morning will provide the EUR with direction early on.
Outside of the stats, market risk sentiment will influence through the day.
At the time of writing, the EUR was down 0.03% at $1.1155.
For the Pound,
There are no material stats due out of the UK today.
With EU Parliamentary elections now just days away, the focus will remain on Brexit and chatter from Parliament. There has been talk of another round of indicative votes in Parliament. Theresa May could have another issue on her hands, however, should the Tories have yet another disaster election.
Nigel Farage and the Brexit Party have the lead, according to the latest polls, which is considered a negative for the Pound. Any further Boris Johnson talk will also have an impact.
At the time of writing, the Pound was up 0.06% to $1.2731.
Across the Pond,
There are no material stats scheduled for release later this afternoon.
The lack of stats leaves the focus on the U.S – China trade talks and geopolitical risk in general.
While there are no material stats, FED Chair Powell is scheduled to speak late in the day. Any monetary policy talk will provide direction for the Greenback.
At the time of writing, the Dollar Spot Index was up 0.02% to 98.019.
For the Loonie,
There are no material stats, with the Canadian markets closed for the day. While volumes will be on the lighter side, crude oil prices and market risk sentiment will provide direction through the day.
Gains through the early part of the day came off the back of a jump in crude oil prices early on. Brent and WTI were up by 1.5% and 1.45% respectively, at the time of writing. Early support came from news of OPEC’s latest pledge to continue to limit supply.
The Loonie was up 0.18% at C$1.3434, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Hopes of a resolution to the extended trade war remain, following news of a conversation between China’s Foreign Minister Yi and Secretary of State Pompeo. In spite of the lingering hopes that has prevented the global equity markets from sinking, pressure on China and HK stocks remained. This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Daily Forecast – Cable Consolidates Near 5-Month Low Equities Rebound, Bond Yields Rise, Trade Rhetoric Intensifies Oil and SP500 bounce from Local Lows The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side. Japan’s 1st quarter GDP figures provided direction early on. While volumes will be on the lighter side, crude oil prices and market risk sentiment will provide direction through the day. | At the time of writing, the Japanese Yen was down by 0.13% to ¥110.22 against the U.S Dollar. Elsewhere, At the time of writing, the Aussie Dollar was up 0.68% to $0.6915, early support coming off the back of the surprise election result on the weekend. While volumes will be on the lighter side, crude oil prices and market risk sentiment will provide direction through the day. | Japan’s 1st quarter GDP figures provided direction early on. The Japanese Yen moved from ¥110.123 to ¥110.257 upon release of the figures that preceded the industrial production numbers. Sunny Optical Tech led the way down on the Hang Seng, down by 4.92% at the time of writing. | e56689e8-eb03-4e65-8bde-e0f965fcd40e |
709234.0 | 2019-05-16 00:00:00 UTC | Forex Daily Recap – The USD Index Recovered Amid Sound US Economic Data | DBO | https://www.nasdaq.com/articles/forex-daily-recap-usd-index-recovered-amid-sound-us-economic-data-2019-05-16 | nan | nan | FXEmpire.com -
US Dollar Index
The Greenback marked the day’s high near its weekly top levels. The Green money was hovering near 97.82 levels at around 15:00 GMT. With the backing of some positive US events, the USD Index managed to recover from all its weekly incurred losses. The April Housing Starts MoM reported around 1.235 million over the estimates of 1.205 million. Monthly Building Permits for April came 6 million higher than the market expectation of 1.290 million. Initial Jobless Claims computed since May 10 recorded 8K lesser than the consensus estimates of 220K. The day highlight remained the Philadelphia Fed May Manufacturing Survey, which reported 84.44% growth this time. Notably, the weak Euro-specific data had provided the early upward push for the Index.
EUR/USD
The Euro pair had remained consolidated in the early Asian trading session. At around 08:00 GMT, Italy reported mixed CPI and Trade data. Following the in-line MoM & YoY Italy CPI figures, the pair attempted to breach the healthy 1.1225 resistance levels.
EURUSD 240 Min 16 May 2019
However, the Fiber couldn’t knock off the sound levels and cooled down near 1.1203 levels. The primary force behind the plunge was the poor Italy April CPI numbers computed on EU norms. Though there appeared positive Italy Trade balance laterwards, the pair ignored and extended plunging. The fall in the EUR/USD pair deepened with the release of positive USD-specific reports. US April Housing data and Philadelphia Fed May Manufacturing Survey reports recorded higher-than-estimates. The US Unemployment data also reported fewer numbers helping the Greenback and hammering the Fiber. Anyhow, the stumble in the pair ceased near 1.1173 support levels, last touched on May 9.
AUD/USD
The Aussie pair extended last day’s tumble rally into today’s session. The AUD/USD pair had made the opening on Thursday near 0.6929 levels. Laterwards, the pair received support near 0.6907 healthy levels. In the first session, a bearish Australian Employment data made the pair suffer a pullback. The April Unemployment rates increased to eight-months high, appeared near 5.2%. Also, the full-time Employment data reported negative figures than positive estimates. Furthermore, RBA’s Bullock gave her speech on the ‘Better Payment and Clearing Systems’. However, the AUD/USD pair ignored her words and continued the downward rally getting supported near 0.6911 levels. The Greenback got uplifted amid the bullish US economic data. Today, the US Housing, Building Permits, Jobless Claims, and Philadephia Fed Manufacturing data appeared higher than expected. Following such positive US reports, the pair slipped reaching near 0.6901 levels.
USD/CAD
USDCAD 60 Min 16 May 2019
The Loonie seesawed during the Thursday trading session. The pair opened up near 1.3441 levels, slid to 1.3400 levels, and then again reverted to the opening point. The early decline in the USD/CAD pair gets discounted to the crude upsurge. The Crude Oil WTI Futures went up near $62 per barrel mark amid global crude supply tensions. The last two attacks on Saudi attacks got linked with Iran’s outrage over US sanctions. Fearing a possible attack anytime, President Trump asked all the US non-emergency diplomatic staffs to come back from Iran. These global cues elevated the Oil prices and left the Loonie under pain. The second part was the upliftment from the day’s low to the day’s high. Sound US Housing data, Unemployment figures, and Fed Manufacturing Survey Index helped the pair gain the lost pips. The USD/CAD was trading near 1.3443 levels at 17:37 GMT.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Following the in-line MoM & YoY Italy CPI figures, the pair attempted to breach the healthy 1.1225 resistance levels. Today, the US Housing, Building Permits, Jobless Claims, and Philadephia Fed Manufacturing data appeared higher than expected. Sound US Housing data, Unemployment figures, and Fed Manufacturing Survey Index helped the pair gain the lost pips. | US April Housing data and Philadelphia Fed May Manufacturing Survey reports recorded higher-than-estimates. Today, the US Housing, Building Permits, Jobless Claims, and Philadephia Fed Manufacturing data appeared higher than expected. Sound US Housing data, Unemployment figures, and Fed Manufacturing Survey Index helped the pair gain the lost pips. | The pair opened up near 1.3441 levels, slid to 1.3400 levels, and then again reverted to the opening point. Sound US Housing data, Unemployment figures, and Fed Manufacturing Survey Index helped the pair gain the lost pips. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Futures (GC) Technical Analysis – May 28, 2019 Forecast Crude Oil Price Forecast – Oil markets choppy to kick off week Natural Gas Price Prediction -Prices Whipsaw Forming Bearish Pattern The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Though there appeared positive Italy Trade balance laterwards, the pair ignored and extended plunging. Also, the full-time Employment data reported negative figures than positive estimates. The USD/CAD was trading near 1.3443 levels at 17:37 GMT. | 422e7fcd-4bf8-4dfa-97ce-d4f1ca9c584e |
709235.0 | 2019-05-09 00:00:00 UTC | It’s Risk On as Optimism Sweeps Across the Financial Markets | DBO | https://www.nasdaq.com/articles/its-risk-optimism-sweeps-across-financial-markets-2019-05-10 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a busier day on theeconomic calendarthrough the Asian session this morning. April electronic card retail sales out of New Zealand and March Japanese spending numbers provided direction in the early hours.
On the monetary policy front, the RBA released its Statement on Monetary Policy that had a largely muted impact on the Aussie Dollar.
For the Kiwi Dollar,
Electronic card retail sales rose by 0.6% in April, falling short of a forecasted 0.8% increase. Card retail sales fell by a revised 0.2% in March.
According to NZStats:
The increase in card spending coincided with the timing of Easter and the school holidays.
Spending on hospitality rose by 0.6%, with spending on consumables rising by 0.5%.
There was also a recovery in spending on apparel, which increased by 1.8%. Sales had fallen by 2.9% in March.
Spending on fuel jumped by 2.8%, with spending on durables rising by 1.3%.
The Kiwi Dollar moved from $0.65888 to $0.65872 upon release of the figures. At the time of writing, the Kiwi Dollar was up 0.23% to $0.6606.
For the Japanese Yen,
Month-on-month, personal spending rose by 0.1% in March, falling short of a forecasted 0.5% increase. Spending had tumbled by 2% in February. Year-on-year, spending rose by 2.1%, which was better than a forecasted and February 1.7% increase.
According to year-on-year figures released by Ministry of Internal Affairs and Communications,
Weighing on overall household spending, year-on-year, were
Spending on fuel, light & water charges slid by 5.4%. There were also falls in spending on medical care (-2.6%) and clothing & footwear (-1.6%).
Supporting household spending:
Spending on housing surged by 9.4%, with spending on education jumping by 7.2%.
There were also notable increases in spending on transportation & communication (+3.4%) and furniture & household utensils (+2.9%).
The Japanese Yen moved from ¥109.757 to ¥109.798 against the Dollar upon release of the figures. At the time of writing, the Japanese Yen was down 0.22% to ¥109.98 against the U.S Dollar
For the Aussie Dollar,
The RBA released its May Statement on Monetary Policy. Key from the statement was a downward revision to growth forecasts:
The RBA noted that household consumption remained a major source of uncertainty for growth forecasts.
The growth forecast for year-ended 2019 was cut from 3% to 2.75%. For year-ended June 2019, it was even more dire, with the growth forecast revised down from 2.5% to 1.75%.
While business investment and public demand are expected to provide support to growth, dwelling investment and consumption growth were considered negatives.
The Aussie Dollar moved from $0.69985 to $0.70117 upon release of the Statement. At the time of writing, the Aussie Dollar was up 0.36% to $0.7014.
In spite of the stats and minutes released early in the day, market sentiment towards the U.S – China trade talks was key early on in the day. Optimism fueled support for riskier assets early in the day.
The Day Ahead:
For the EUR,
March trade figures out of Germany and French 1st quarter nonfarm payrolls are due out later this morning.
Barring dire numbers out of France, the focus will Germany’s trade data. The markets will be looking for a turnaround in the Germany economy. The EU Commission is not so convinced for the current year, leading to the latest downward revision to growth for 2019.
Outside of the numbers, updates from the U.S – China trade talks will continue to remain key through the day.
At the time of writing, the EUR was up 0.16% at $1.1233.
For the Pound,
It’s a particularly busy day ahead. 1st quarter business investment and GDP figures are due out of the UK. March industrial and manufacturing production and trade data are also due out later this morning. Later in the day, NIESR GDP estimates are also due out of the UK.
While we expect the GDP numbers to be the key driver, manufacturing production will also need to impress to support the Pound.
Outside of the figures, the markets will continue to monitor events in Parliament. While Theresa May looks to deliver a deal, the Opposition Party continues to support a 2nd Referendum. Theresa May will need to hang on for the Pound to avoid a tumble.
At the time of writing, the Pound was flat at $1.3014.
Across the Pond,
April inflation figures are due out of the U.S this afternoon. Following FED Chair Powell’s views on inflation, any pickup up in the annual rate of core inflation beyond forecasts could reignite talk of a rate hike down the road.
Outside of the stats, a 2nd day of U.S – China trade negotiations will remain the key driver through the session.
The markets will be expecting progress from 2-days of trade talks. Anything less and expect risk aversion to bite…
At the time of writing, the Dollar Spot Index was flat at 97.374.
For the Loonie,
March building permits and April employment figures are due out of Canada. The employment figures will be the key driver from the data front and will need to impress to offset the effects of disappointing trade figures released on Thursday.
Outside of the stats, the second day of U.S – China trade talks will need to be considered. Updates from talks will influence crude oil prices and the Loonie later in the day.
The Loonie was up 0.24% at C$1.3444, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | April electronic card retail sales out of New Zealand and March Japanese spending numbers provided direction in the early hours. The Day Ahead: For the EUR, March trade figures out of Germany and French 1st quarter nonfarm payrolls are due out later this morning. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast – Euro continues to show soft as Equities Rebound, Huawei Gets Reprieve, Earnings In Focus USD/CAD Daily Forecast – Oil Price Upshot Amid Global Cues Undermining the Loonie The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the monetary policy front, the RBA released its Statement on Monetary Policy that had a largely muted impact on the Aussie Dollar. For the Kiwi Dollar, Electronic card retail sales rose by 0.6% in April, falling short of a forecasted 0.8% increase. Key from the statement was a downward revision to growth forecasts: The RBA noted that household consumption remained a major source of uncertainty for growth forecasts. | Supporting household spending: Spending on housing surged by 9.4%, with spending on education jumping by 7.2%. At the time of writing, the Japanese Yen was down 0.22% to ¥109.98 against the U.S Dollar For the Aussie Dollar, The RBA released its May Statement on Monetary Policy. In spite of the stats and minutes released early in the day, market sentiment towards the U.S – China trade talks was key early on in the day. | For the Kiwi Dollar, Electronic card retail sales rose by 0.6% in April, falling short of a forecasted 0.8% increase. Year-on-year, spending rose by 2.1%, which was better than a forecasted and February 1.7% increase. The Day Ahead: For the EUR, March trade figures out of Germany and French 1st quarter nonfarm payrolls are due out later this morning. | d8460b2f-d710-4b98-a958-88a6f306cf67 |
709236.0 | 2019-05-09 00:00:00 UTC | Trade Talks Are Set to Resume Today – Expect some Vol | DBO | https://www.nasdaq.com/articles/trade-talks-are-set-resume-today-expect-some-vol-2019-05-09 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a relatively quiet day on theeconomic calendarthrough the Asian session this morning. April house price figures out of the UK and China inflation numbers were the only stats for the markets to consider.
Out of China,
The annual rate of inflation accelerated from 2.3% to 2.5% in April, which was in line with forecasts. Month-on-month, consumer prices rose by 0.1%, which was also in line with forecasts. In March, consumer prices had fallen by 0.4%.
Wholesale price inflation also accelerated, with the producer price index rising by 0.9% in April, year-on-year, following a 0.4% rise in March. Forecasts were for wholesale prices to rise by 0.6%.
While inflation numbers were positive, new loans disappointed in April. New loans stood at CNY1,020bn, coming up short of a forecasted CNY1,200bn. In March, new loans stood at CNY1,690bn.
The Aussie Dollar moved from $0.69765 to $0.69786 upon release of data. At the time of writing, the Aussie Dollar was down 0.20% to $0.6974.
Elsewhere,
At the time of writing, the Japanese Yen was up 0.15% to ¥109.93 against the U.S Dollar, while the Kiwi Dollar was down 0.03% to $0.6573.
Trade war jitters weighed on risk appetite through the session, as the markets largely brushed aside weaker than expected new loan figures out of China.
The Day Ahead:
For the EUR,
There are no material stats due out of the Eurozone to provide direction to the EUR.
Following a mixed bag of stats in the early part of the week, the focus will be on the U.S – China trade talks later today.
At the time of writing, the EUR was down 0.01% at $1.1191.
For the Pound,
It’s also a quiet day on theeconomic calendar with no material stats due out of the UK today.
The lack of stats will leave the focus on Parliament and Brexit. Theresa May has made a promise of a new Brexit deal for Parliament to vote on in a couple of weeks. While that’s the good news, there’s no guarantee that Parliament will be interested in any deal that is brought to the table by the British PM.
From Parliament, Theresa May continues to lead the Tories and the UK. After rejecting calls to resign on Wednesday, the British PM now has 2 weeks to deliver. The good news for the Pound is that there’s unlikely to be a vote of no confidence between now and then. Should Theresa May fail ahead of the EU Parliamentary elections, however, it will be an altogether different story.
At the time of writing, the Pound was up 0.01% to $1.3007.
Across the Pond,
April wholesale inflation figures, the weekly jobless claims numbers, and March trade data are due out of the U.S.
While we can expect some influence from the weekly jobless claims figures, wholesale inflation numbers will likely be the key driver this afternoon.
There will be some interest in the trade data, however. The figures are due out as the U.S and China return to the negotiating table.
All eyes will ultimately be on Washington and whether the two sides can reach an agreement on trade.
At the time of writing, the Dollar Spot Index was down 0.02% to 97.604.
For the Loonie,
March house price figures and trade data are due out of Canada this afternoon. Barring particularly dire house price figures, the focus will be on the trade data.
The Bank of Canada has maintained its dovish stance and, while today’s numbers are unlikely to cause a material shift, a narrowing of the trade deficit would certainly help.
Forecasts are for the trade deficit to narrow from C$2.90bn to C$2.30bn. The numbers will need to be better than forecasted, however, for the Loonie to benefit.
Outside of the stats, the U.S – China trade talks will have a material impact on risk sentiment and crude oil prices. Positive news would be a boon for the Loonie.
The Loonie was down 0.05% at C$1.3486, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Trade war jitters weighed on risk appetite through the session, as the markets largely brushed aside weaker than expected new loan figures out of China. Across the Pond, April wholesale inflation figures, the weekly jobless claims numbers, and March trade data are due out of the U.S. The Bank of Canada has maintained its dovish stance and, while today’s numbers are unlikely to cause a material shift, a narrowing of the trade deficit would certainly help. | Across the Pond, April wholesale inflation figures, the weekly jobless claims numbers, and March trade data are due out of the U.S. While we can expect some influence from the weekly jobless claims figures, wholesale inflation numbers will likely be the key driver this afternoon. This article was originally posted on FX Empire More From FXEMPIRE: U.S. Dollar Index Futures (DX) Technical Analysis – May 21, 2019 Forecast AUD/USD Forex Technical Analysis – May 21, 2019 Forecast Oil Price Fundamental Daily Forecast – Demand Concerns Outweighing Supply Worries The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond, April wholesale inflation figures, the weekly jobless claims numbers, and March trade data are due out of the U.S. For the Loonie, March house price figures and trade data are due out of Canada this afternoon. This article was originally posted on FX Empire More From FXEMPIRE: U.S. Dollar Index Futures (DX) Technical Analysis – May 21, 2019 Forecast AUD/USD Forex Technical Analysis – May 21, 2019 Forecast Oil Price Fundamental Daily Forecast – Demand Concerns Outweighing Supply Worries The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | April house price figures out of the UK and China inflation numbers were the only stats for the markets to consider. Forecasts were for wholesale prices to rise by 0.6%. For the Loonie, March house price figures and trade data are due out of Canada this afternoon. | f0b26881-fcf1-4464-a503-67d0cf394dbb |
709237.0 | 2019-05-07 00:00:00 UTC | The RBNZ Slashes the Kiwi as Trade Talk Jitters Linger | DBO | https://www.nasdaq.com/articles/rbnz-slashes-kiwi-trade-talk-jitters-linger-2019-05-08 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a relatively busy Asian session this morning. Key stats released during the Asian session included April trade data out of China and retail sales figures out of the UK.
On the monetary policy front, the Bank of Japan released its monetary policy meeting minutes from its April meeting and the RBNZ delivered its May decision.
For the Kiwi Dollar,
The RBNZ cut the official cash rate from 1.75% to 1.50%, which was largely expected.
From the RBNZ monetary policy statement, salient points included:
While having supported employment and inflation, economic growth has slowed recently as headwinds have emerged.
Trade disputes between major economies have reduced global trade, leading to delays in investment.
Domestically, a lack of confidence in the economic outlook has resulted in reduced business investment.
Slower growth appears to be continuing in 2019 and this is expected to dampen employment and inflation.
Lower interest rates are needed to support the economy.
The statement also noted that there may be a need to change the OCR to help stabilize employment and inflation. The statement suggesting that more could be on the horizon.
The Kiwi Dollar tumbled from $0.65996 to a session low $0.65251 upon the RBNZ announcement, which preceded the press conference. At the time of writing, the Kiwi Dollar was down 0.48% to $0.6572.
In the press conference:
RBNZ Governor Orr talked of surprise over the fall in business investment and consumer spending. Concerns over the U.S – China trade war raised plenty of uncertainties over what lies ahead.
Out of China,
The U.S Dollar trade surplus narrowed from $32.67bn to $13.84bn in April.
Exports fell by 2.7%, which was worse than a forecasted 2.3% increase. Exports had surged by 14.2% in March.
Imports rose by 4%, coming in well ahead of a forecasted 3.6% fall. Imports had fallen by 7.6% in March.
The Aussie Dollar moved from $0.70215 to $0.7019 upon release of data. At the time of writing, the Aussie Dollar was up 0.16% to $0.7023.
Elsewhere,
At the time of writing, the Japanese Yen was up 0.21% to ¥110.03 against the U.S Dollar. The dated BoJ minutes had no impact on the Yen this morning, as the markets continued to fret of the U.S – China trade war.
The Day Ahead:
For the EUR,
It’s a relatively quiet day on the economic calendar. German industrial production figures for March are due out later this morning.
Following weaker than expected factory order numbers on Tuesday, today’s stat is expected to be EUR negative, supported by the disappointing manufacturing PMI numbers seen through the current year.
While the EUR showed resilience to the weak numbers on Tuesday, it remains to be seen whether the EUR can hold on later this morning.
The EU Commission’s latest growth forecasts could come into question should the data be dire.
Outside the numbers, ECB President Draghi is due to speak later today. Any policy talk will be of interest.
At the time of writing, the EUR was up 0.13% at $1.1205.
For the Pound,
April house price figures are due out of the UK later this morning. The Pound will likely brush aside the figures.
Earlier this morning the UK’s BRC Retail Sales Monitor jumped by 3.7%, year-on-year in April, coming in well ahead of a forecasted 2.4% rise. Economic data out of the UK continues to surprise, providing with the Pound with some much-needed support early on.
Unsurprisingly, the focus remains on Brexit through the day. With the government setting a 1st July deadline for a deal to be in place, it’s going to be an interesting run-up to the EU Parliamentary elections…
Will Theresa May will be able to see a deal through or is a vote of no confidence on the cards.
At the time of writing, the Pound was up 0.02% to $1.3078.
Across the Pond,
It’s another quiet day ahead on the economic calendar. There are no material stats due out of the U.S this afternoon.
With no data to consider, the focus will remain hinged on the U.S – China trade talks. The U.S government has upped the ante… Will the Chinese government flinch or play hardball?
Updates from both sides ahead of trade talks scheduled to begin tomorrow will be of influence.
At the time of writing, the Dollar Spot Index was down 0.17% to 97.463.
For the Loonie,
House price figures are due out later today that will unlikely have an impact on the Loonie this afternoon.
The U.S – China trade war and impact on crude oil prices will likely be the key driver through the day.
Any hint of China abandoning tomorrow’s talks and C$1.36 levels could come into play.
The Loonie was up 0.11% at C$1.3459, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats released during the Asian session included April trade data out of China and retail sales figures out of the UK. From the RBNZ monetary policy statement, salient points included: While having supported employment and inflation, economic growth has slowed recently as headwinds have emerged. This article was originally posted on FX Empire More From FXEMPIRE: Sterling Struggles to Nurse Wounds as Political Risk Continues to Bite European Equities: It’s All Eyes and Ears on the Oval Office. | Key stats released during the Asian session included April trade data out of China and retail sales figures out of the UK. On the monetary policy front, the Bank of Japan released its monetary policy meeting minutes from its April meeting and the RBNZ delivered its May decision. From the RBNZ monetary policy statement, salient points included: While having supported employment and inflation, economic growth has slowed recently as headwinds have emerged. | Key stats released during the Asian session included April trade data out of China and retail sales figures out of the UK. From the RBNZ monetary policy statement, salient points included: While having supported employment and inflation, economic growth has slowed recently as headwinds have emerged. The dated BoJ minutes had no impact on the Yen this morning, as the markets continued to fret of the U.S – China trade war. | FXEmpire.com - Earlier in the Day: It was a relatively busy Asian session this morning. Any policy talk will be of interest. With no data to consider, the focus will remain hinged on the U.S – China trade talks. | 50c3af00-5997-4d08-b371-c58eae60c5a5 |
709238.0 | 2019-05-07 00:00:00 UTC | Forex Daily Recap – Turkish Lira Plunged Amid Political Turmoil Pushing the USD/TRY to 2019 Highs | DBO | https://www.nasdaq.com/articles/forex-daily-recap-turkish-lira-plunged-amid-political-turmoil-pushing-usd/try-2019-highs | nan | nan | FXEmpire.com -
AUD/USD
The Aussie pair rang the Tuesday morning bell near 0.6993 levels. The pair displayed a decent performance in the early hours after some positive AUD-specific events. The March MoM AUD Retail Sales came around 0.1 percent higher than the estimates near 0.2 percent. Also, the March AUD Trade Balance reported a figure around 4949 million over expectation of 4300 million. The investors witnessed a whopping 0.76 percent in the Asian trading session post such positive results.
However, the AUD/USD pair slid back to 0.6999 levels in the next session after the RBA rate announcement. The market had expected the Central Bank to report a rate cut this time. Somehow, the RBA kept the interest rates unchanged at 1.5 percent shattering the investor hopes. At around 17:00 GMT, the pair was trading near 0.7006 levels.
AUDUSD 60 Min 07 May 2019
EUR/USD
The Fiber managed to keep up near 1.1200 levels since last few sessions. However, the pair lost hold of high levels today. The EUR/USD had tested near the day’s high near 1.1219 levels. Laterwards, the pair fell amid poor German Factory Order figures. The March MoM German Factory Orders recorded near 0.6 percent over the estimates of 1.5 percent. Adding to this negative sentiment, France March Trade Balance reported a negative €5.3B over expectation of negative €4.5B.
Meanwhile, France March Current Account came as negative €1.3B, as to the consensus estimate of negative €0.97B. The primary rationale behind the Fiber plunge was the political turmoil prevailing in Turkey. During the day, the EUR/USD pair lost almost 0.46 percent of the gains accumulated since last few sessions.
USD/TRY
The Turkish Lira had extended its losses into today’s session amid Istanbul political chaos. During the day, the USD/TRY pair made a substantial 1.76 percent marking the year’s high near 6.2000 levels. The Lira investors went unnerved, calling for a massive sell-off after the Turkish government announced for re-election on June 23. The Opposition party had won in the local elections conducted on March 31.
USDTRY 60 Min 07 May 2019
Speculations suggested that the Turkish President Erdoğan is trying to misuse his powers to bring back control over Istanbul. The citizens protested against the government and its decision. The fall in the Turkish Lira had significantly benefitted the earlier-falling US Dollar Index. The USD/TRY pair had remained fragile to the last Central Bank Interest Rate meeting. The Bank had decided to keep the rates unchanged at 24.00 percent. This move was initiated to compete against the rising US interest rates and heavy debt pressures on the country.
US Dollar Index
The Greenback measured against the six major rival currencies weighed higher today after slumping yesterday. The Index was pretty down amid Trump threats to impose more tariffs on Chinese goods. However, the Index has successfully managed to rebound from its previous day losses. The Index jumped back near 97.70 levels from where it had fallen the last day. During the day, the Green Money made a swing high of around 0.32 percent. The primary rival (EUR/USD) which constitutes almost 50 percent of the Index dropped over Greenback rise. Quite notably, most of the competitors computed against the greenback remained lower today. The AUD/USD and USD/TRY remained among such tumbling currency pairs.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | USDTRY 60 Min 07 May 2019 Speculations suggested that the Turkish President Erdoğan is trying to misuse his powers to bring back control over Istanbul. US Dollar Index The Greenback measured against the six major rival currencies weighed higher today after slumping yesterday. This article was originally posted on FX Empire More From FXEMPIRE: The EU Parliamentary Elections – Entry is not only a Fail for the Tories U.S. Dollar Index Futures (DX) Technical Analysis – May 20, 2019 Forecast Natural Gas Price Futures (NG) Technical Analysis – Bullish Weather Picture Could Spike Prices to $2.762 Over Near-Term The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, the March AUD Trade Balance reported a figure around 4949 million over expectation of 4300 million. The March MoM German Factory Orders recorded near 0.6 percent over the estimates of 1.5 percent. Adding to this negative sentiment, France March Trade Balance reported a negative €5.3B over expectation of negative €4.5B. | However, the AUD/USD pair slid back to 0.6999 levels in the next session after the RBA rate announcement. During the day, the EUR/USD pair lost almost 0.46 percent of the gains accumulated since last few sessions. During the day, the USD/TRY pair made a substantial 1.76 percent marking the year’s high near 6.2000 levels. | However, the pair lost hold of high levels today. The Turkish Lira had extended its losses into today’s session amid Istanbul political chaos. The USD/TRY pair had remained fragile to the last Central Bank Interest Rate meeting. | 977b8345-cfcf-4db9-9ca5-003d3ea5e172 |
709239.0 | 2019-05-06 00:00:00 UTC | Forex Daily Recap – The Greenback has Fallen Amid US-Sino Trade Tensions & Positive Euro Data | DBO | https://www.nasdaq.com/articles/forex-daily-recap-greenback-has-fallen-amid-us-sino-trade-tensions-positive-euro-data-2019 | nan | nan | FXEmpire.com -
EUR/USD
The Fiber showcased a seesawed performance during the day amid some astounding Euro-specific data. Multiple bounces from the robust 1.1181 support levels remained capped near 1.1205 levels. The April Markit Services PMI for the EMU region reported well above the consensus estimates. The PMI came around 51.5 points, over the market expectation of 51.3 points.
Along with PMI, the March YoY Retail figures culminated near 1.9 percent, over the estimates around 1.8 percent. The Fiber marked the day’s high near 1.1204 levels and lowed near 1.1180 levels. In the middle of all the positive Euro reports, two adverse reports got published. Firstly, Spain April Markit Services PMI reported 4.33 percent below the consensus estimates of 55.4 points. Secondly, Italy April PMI came around 50.4 points compared to the expectation of 52.0 points.
US Dollar Index
USD Index 240 Min 06 May 2019
The Greenback computed against the six major rival currencies initiated the day near 97.58 levels. The US Dollar Index touched the active resistance line near 97.70 levels, last marked on May 2. Notably, theeconomic calendarremained silent amid lack of USD-specific events. However, higher-than-expected EMU April PMI figures pushed down the Green Money during the day. Trump’s threat to increase tariff duties on Chinese goods had already left the investors unnerved. The US President had mentioned that the US might lift the Chinese tariffs to 25% over the current 10%. He also alluded of some additional tariff duties which are yet to come. Hence, the overall sentiment remained risk-averse amid trade talk uncertainties.
AUD/USD
The Aussie pair started the day near 0.6975 level and remained capped near 0.6994 levels. After opening, the pair kept on moving upward. In the last week, the pair observed a decreasing trend whereas, this week the pair remained higher. The AUD/USD pair kept deviating above and created a new high today near 0.6999 levels. The US Federal Reserve Bank’s prominent Authorities delivered a speech at 13:30 GMT elevated the hike. Also today, the USD slipped 20 pips following the bearish US 3-Months & 6-Months Bill Auction. This downfall in the US Dollar Index helped the pair to move upward. The pair then attempted to touch 0.7000 levels. At 17:30 GMT, the pair was trading around, 0.6998 level.
USD/CNY
The USD/CNY pair opened up on Monday morning near 6.7346 level. The pair displayed a massive rise of 0.88 percent, reaching near 6.7941 level in the Asian session. However, at 01:45 GMT the pair tumbled down reaching near 6.7648 level. The sudden soar in the pair gets discounted to Trump’s Tweet on Sunday. The President warned that he would increase the US tariffs on Chinese goods.
USDCNY 240 Min 06 May 2019
During the last week, some progress over the US-Sino Trade deadlock got observed. Somehow, the sudden change in the US tone has increased pressure on China to further negotiations over the trade deal. In the meantime, China’s Central Bank addressed the reduction of Reserve Requirement Ratios (RRRs). With this move, the Bank aims to help small and medium-sized banks. And, this rate cut gave a boost to the Chinese Yuan dragging down the pair.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Firstly, Spain April Markit Services PMI reported 4.33 percent below the consensus estimates of 55.4 points. The US Federal Reserve Bank’s prominent Authorities delivered a speech at 13:30 GMT elevated the hike. This article was originally posted on FX Empire More From FXEMPIRE: U.S Mortgages – Down for a 3rd Week in a Row as Trade War Jitters Lingered E-mini S&P 500 Index (ES) Futures Technical Analysis – Trader Reaction to 2880.50 Will Set Tone into Close Aussie Dollar is Worst G10 Currency So Far in May, Leading Up to Weekend’s Elections The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The April Markit Services PMI for the EMU region reported well above the consensus estimates. Firstly, Spain April Markit Services PMI reported 4.33 percent below the consensus estimates of 55.4 points. US Dollar Index USD Index 240 Min 06 May 2019 The Greenback computed against the six major rival currencies initiated the day near 97.58 levels. | The Aussie pair started the day near 0.6975 level and remained capped near 0.6994 levels. In the last week, the pair observed a decreasing trend whereas, this week the pair remained higher. At 17:30 GMT, the pair was trading around, 0.6998 level. | The Fiber marked the day’s high near 1.1204 levels and lowed near 1.1180 levels. The Aussie pair started the day near 0.6975 level and remained capped near 0.6994 levels. At 17:30 GMT, the pair was trading around, 0.6998 level. | 63f57e8e-1567-41ac-b1a5-fbc8c0900ffe |
709240.0 | 2019-05-02 00:00:00 UTC | Labor Market Stats and Service Sector PMIs Put the USD in Focus | DBO | https://www.nasdaq.com/articles/labor-market-stats-and-service-sector-pmis-put-usd-focus-2019-05-03 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a quiet day on the data front through the Asian session this morning. March building approvals were released early on in the day.
While the stats were on the lighter side, China returned from a 2-day holiday, with risk sentiment through the early part of the day being driven by better than expected stats out of the U.S on Thursday.
For the Aussie Dollar,
Building approvals tumbled by 15.5% in March, which was worse than a forecasted 14% decline. Approvals had surged by 19.1% in February.
According to the ABS,
The slide was attributed to a 27.4% fall in New South Wales and a 27% fall in Victoria.
Private dwellings excl. houses, slid by 30.6%, weighing most heavily on the headline figure.
Private house approvals fell by just 3.2% in March.
The Aussie Dollar moved from $0.0.69937 to $0.0.69875 upon release of the figures. At the time of writing, the Aussie Dollar was down 0.06% to $0.6996.
Elsewhere,
At the time of writing, the Japanese Yen was up 0.03% to ¥111.48 against the U.S Dollar. With no stats out of New Zealand to rock the boat, the Kiwi Dollar was up 0.05% to $0.6621.
The moves across the major pairings came in spite of a mixed session in the Asian equity markets. While the markets in Japan and China remained closed, the ASX200 was on the move following Thursday’s 0.59% fall. At the time of writing, the ASX200 was up by 0.22%.
The Hang Seng was under pressure in the early hours, down by 0.3%. Tech stocks struggled, with Sunny Optical Tech and Tencent Holdings, down by 1.35% and 0.77% respectively. Oil stocks also saw red, with CNOOC Ltd seeing the heaviest loss of the day, down by 2.01% at the time of writing.
The Day Ahead:
For the EUR,
It’s a relatively quiet day ahead on the economic calendar. Prelim April inflation figures for the Eurozone will provide direction early on.
A pickup in inflationary pressure will provide some support for the EUR in the early part of the day, if in line with or better than forecasted.
From elsewhere, key stats out of the U.S will have a material impact on risk sentiment and the pairing later in the day. Labor market and non-manufacturing PMI numbers will need to be considered.
At the time of writing, the EUR was up 0.0.2% at $1.1174.
For the Pound,
It’s a relatively quiet day ahead on the economic calendar. In the wake of the BoE’s hawkish chatter, the focus will shift to April’s service sector PMI due out later today.
Forecasts are for a return to expansion in the sector, with the PMI forecasted to rise from 48.90 to 50.50 in April.
On the political arena, local elections results will be rolling out through the day. While less influential than the general election, the chances of a vote of no confidence could rise should the Tories have a disaster.
At the time of writing, the Pound was up 0.05% to $1.3059.
Across the Pond,
It’s a big day ahead on the economic calendar. Key stats due out of the U.S include nonfarm payroll and wage growth figures and the market’s preferred ISM non-manufacturing PMI.
Trade data and the less influential Markit service sector PMI will also need to be considered.
Outside of the numbers, FOMC members Clarida and Williams will speak during the U.S session. Expect some market sensitivity to any monetary policy chatter following Wednesday’s fence-sitting.
At the time of writing, the Dollar Spot Index was down 0.01% to 97.819.
For the Loonie,
There are no material stats due out of Canada.
Crude oil prices and risk appetite will likely provide direction later in the day.
The Loonie was up 0.07% at C$1.3466, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the wake of the BoE’s hawkish chatter, the focus will shift to April’s service sector PMI due out later today. Key stats due out of the U.S include nonfarm payroll and wage growth figures and the market’s preferred ISM non-manufacturing PMI. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast – Weak Australian Employment Data Will Raise Odds of Rate Cut Aussie Stats Weigh as the Markets Digest Trade Talk Gold Price Forecast – Gold markets continue to struggle with major figure The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | March building approvals were released early on in the day. In the wake of the BoE’s hawkish chatter, the focus will shift to April’s service sector PMI due out later today. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast – Weak Australian Employment Data Will Raise Odds of Rate Cut Aussie Stats Weigh as the Markets Digest Trade Talk Gold Price Forecast – Gold markets continue to struggle with major figure The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While the stats were on the lighter side, China returned from a 2-day holiday, with risk sentiment through the early part of the day being driven by better than expected stats out of the U.S on Thursday. The Day Ahead: For the EUR, It’s a relatively quiet day ahead on the economic calendar. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD and NZD/USD Fundamental Daily Forecast – Weak Australian Employment Data Will Raise Odds of Rate Cut Aussie Stats Weigh as the Markets Digest Trade Talk Gold Price Forecast – Gold markets continue to struggle with major figure The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Aussie Dollar moved from $0.0.69937 to $0.0.69875 upon release of the figures. A pickup in inflationary pressure will provide some support for the EUR in the early part of the day, if in line with or better than forecasted. Forecasts are for a return to expansion in the sector, with the PMI forecasted to rise from 48.90 to 50.50 in April. | 60a56949-af7f-4b53-a089-ada4d34bd86b |
709241.0 | 2019-05-02 00:00:00 UTC | The BoE and Local Elections Put the Pound in the Spotlight | DBO | https://www.nasdaq.com/articles/boe-and-local-elections-put-pound-spotlight-2019-05-02 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was another relatively quiet day on the economic calendar. March building consent figures out of New Zealand and new home sales out of Australia were the only stats to consider early on.
For the Kiwi Dollar,
Month-on-month, building consents slid by 6.9% in March 2019. The slide came off the back of a sizeable upswing in January and February. Consents had surged by 13.4% in January and were up by 1.7% in February.
According to figures released by NZ Stats,
A total of 34,516 new homes were consented in New Zealand in the March year 2019.
Home consents in Auckland jumped by 24%, equivalent to 13,874 new homes.
The Kiwi Dollar moved from $0.66281 to $0.66272 upon release of the figures. At the time of writing, Kiwi Dollar was up 0.18% to $0.6635.
For the Aussie Dollar,
New Home Sales fell by just 0.1% in March, month-on-month. The decline came off the back of a 1% increase in sales in February.
According to the Housing Industry Association,
New home sales stabilized in the 1st quarter, falling by just 1%, quarter-on-quarter.
The 1% fall came off the back of an 8.5% slide in 2018.
Apprehension ahead of this month’s federal election reportedly contributed to weak sales.
The Aussie Dollar moved from $0.70221 to $0.70261 upon release of the figures. At the time of writing, the Aussie Dollar was up 0.14% to $0.7025.
Elsewhere,
At the time of writing, the Japanese Yen was down 0.15% to ¥111.55 against the U.S Dollar.
The moves across the major pairings came in spite of a mixed session in the Asian equity markets. While the markets in China and Japan remained closed, the Hang Seng found early support, up by 0.63%.
Things were not so good for the ASX200, which tracked the U.S majors into the red. At the time of writing, the ASX200 was down by 0.75%.
The Day Ahead:
For the EUR,
It’s another relatively busy day on the economic calendar. Key stats due out of the Eurozone include April’s manufacturing PMI numbers and German retail sales figures.
The focus will likely remain on Italy and Germany’s manufacturing PMIs. While France and Germany’s PMI numbers are finalized numbers, any revision to prelim numbers will test the EUR.
In the earlier part of the day, Germany’s retail sales figures will also need to be considered. Forecasts are EUR negative.
Outside of the stats, expect updates on trade negotiations between the U.S and China to also influence risk sentiment.
Positive updates would be supportive of risk appetite and the EUR.
At the time of writing, the EUR was up 0.10% at $1.1207.
For the Pound,
It’s a big day for the Pound. On the economic data front, April construction PMI numbers will provide the Pound with direction early on. The construction PMI will unlikely have a material influence, however, as the markets look ahead to the BoE monetary policy decision.
With the BoE scheduled to deliver its May monetary policy decision, the focus will likely be on the inflation report and BoE Governor Carney’s speech.
The BoE is expected to hold rates steady at 0.75%. Of interest will be whether there is any bias towards a rate hike later in the year. While the UK economy demonstrated resilience through the 1st quarter, hoarding in anticipation of Brexit was attributed to the better than anticipated figures.
Any shifts in sentiment towards growth and inflation will be key for the Pound on the day.
On the political arena, local elections will get underway this morning. Results are expected to begin trickling through overnight tonight. The Tories are forecasted to take a hammering, which should be negative for the Pound. Brexit woes and in party fighting have led to increased support for the Labour party of late.
At the time of writing, the Pound was up 0.05% to $1.3056.
Across the Pond,
Economic data due out of the U.S include 1st quarter nonfarm productivity and unit labor cost figures. The weekly jobless claims and March factor order numbers will also provide direction.
Following the FED’s fence-sitting on Wednesday, a bounce back in factory orders and a pickup in unit labor costs would be positive for the Greenback.
On the earnings front, there are no major corporate earnings releases due out of the U.S on the day to influence.
From the Oval Office, updates on trade negotiations between the U.S and China could also influence. Positive updates would likely lead to softer demand for the safety of the Dollar.
At the time of writing, the Dollar Spot Index was down 0.09% to 97.602.
For the Loonie,
There are no material stats due out of Canada.
A slide in crude oil prices through the week and some disappointing stats out of Canada have done the Loonie few favors. Despite a slide in the Greenback, the Loonie closed out Wednesday with a 0.43% loss to cut the current week gain to just 0.07%.
For the day ahead, the Loonie could find more support should the U.S – China trade talks deliver support for crude oil and risk appetite in general.
The Loonie was up 0.04% at C$1.3440, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats due out of the Eurozone include April’s manufacturing PMI numbers and German retail sales figures. Following the FED’s fence-sitting on Wednesday, a bounce back in factory orders and a pickup in unit labor costs would be positive for the Greenback. This article was originally posted on FX Empire More From FXEMPIRE: Aussie Pressured by Sluggish Wages; China Reports Miss Forecasts Asian Shares Follow Wall Street’s Lead, Rising on Hope of Timely Trade Deal The Crypto Daily – The Movers and Shakers – 15/05/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats due out of the Eurozone include April’s manufacturing PMI numbers and German retail sales figures. On the economic data front, April construction PMI numbers will provide the Pound with direction early on. For the day ahead, the Loonie could find more support should the U.S – China trade talks deliver support for crude oil and risk appetite in general. | March building consent figures out of New Zealand and new home sales out of Australia were the only stats to consider early on. Key stats due out of the Eurozone include April’s manufacturing PMI numbers and German retail sales figures. For the day ahead, the Loonie could find more support should the U.S – China trade talks deliver support for crude oil and risk appetite in general. | At the time of writing, the Aussie Dollar was up 0.14% to $0.7025. Positive updates would be supportive of risk appetite and the EUR. The Loonie was up 0.04% at C$1.3440, against the U.S Dollar, at the time of writing. | 65c08cce-f938-4525-954c-6eec67850587 |
709242.0 | 2019-04-29 00:00:00 UTC | Forex Daily Recap – The Fiber Reflected Multiple Highs on the Backdrop of the USD Specific Events | DBO | https://www.nasdaq.com/articles/forex-daily-recap-fiber-reflected-multiple-highs-backdrop-usd-specific-events-2019-04-29 | nan | nan | FXEmpire.com -
USD/JPY
The ninja kicked off the day near 111.60 levels. The pair recorded few high levels throughout the day. In the Asian session, the USD/JPY had attempted to remain above the resistance point around 111.70 levels. The pair hit the highest point of the day near 111.88 levels during the North American session.
USDJPY 30 Min 29 April 2019
In the morning hours of the day, the US PCE (Both YoY & MoM) for February and the Personal Spending appeared positive. The USD/JPY gained some momentum to travel upward contrary to any JPY events for today.
The Green Money was ascending since the release of positive PCE index which reported above-the-consensus estimates. This growing US Dollar also further pushed up the USD/JPY pair.
EUR/USD
The pair was trading at around 1.1168 levels at 15:15 GMT. The early hours of the day marked with a small correction and later hours displayed many highs for the cable. Followed by many EUR & USD events, the pair had managed to remain above the support line near 1.1146 levels.
In the Asian Session, the pair was drifting in the top over bullish outlook the EUR calendar events. The EUR Service Sentiments, Italian PPI, and M3 March Money Supply came out ahead of the market anticipation.
Later in the day, a high reading recorded with the PCE data for the US. These reports helped the EUR/USD pair to create multiple-high levels for today.
The pair experienced pull back from the actual numbers of the EUR Business, Industrial & Consumer Confidence. However, these reports turned bearish over the currency.
USD/CAD
The loonie pair started the day, with 1.3459 levels and remained trending upside. A break-even point appeared with the pair during the European session. The pair tumbled down with 21 pips after 12:00 GMT.
USDCAD 30 Min 29 April 2019
The USD/CAD pair gained pace in the early hour od the day with the optimistic yield over the US Treasury Bonds. Further, aided with the broadcasting of the US March PCE index recorded a bullish outlook over the previous figures.
Further in the day, the disruptions in the crude oil prices stayed uncooperative with the USD/CAD pair from any upthrust.
GBP/USD
The GBP/USD pair seesawed throughout today and remained between 1.2945 / 07 levels.
The pair were seen hovering around the resistance point near 1.2918 levels. Post 12:30 GMT the pair took a new turn for making corrections ahead and stood above this resistance point.
Today, the void cross-party talks over Brexit stood unsupportive towards the pair. After the release of BoE’s Governor speech during the start of the day, allowed the cable to bounce up. The GBP/USD pair marked a new high for this day following this speech.
Moreover, the US Treasury Bonds performed well, and it shores up the USD. This improvement in US Dollars added in the pullback of the GBP/USD pair during the mid-hours.
AUD/USD
The Aussie pair started the day with 0.7042 levels and displayed waving up & down ahead. The pair remained within the 0.7060 / 40 levels. Currently, the AUD/USD was trading around the 0.7056 levels at 17:30 GMT.
The PCE & core PCE of February recorded optimistic data and helped the USD to crop up. The US Dollars got strongly supported with the US events aligned for today. During the European session, the Dallas Fed manufacturing business index got released. This report appeared bearish and resulted in lowering of the USD. The reduction in the US dollars helped pair to climb above the lowest 0.7042 levels.
In the absence of any significant AUD specific events, the currency relied upon the US events scheduled for the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | USDJPY 30 Min 29 April 2019 In the morning hours of the day, the US PCE (Both YoY & MoM) for February and the Personal Spending appeared positive. USDCAD 30 Min 29 April 2019 The USD/CAD pair gained pace in the early hour od the day with the optimistic yield over the US Treasury Bonds. This article was originally posted on FX Empire More From FXEMPIRE: In Light of Trade Dispute Developments, Does Fed’s Clarida Still Believe Economy is ‘In a Very Good Place’? | Further, aided with the broadcasting of the US March PCE index recorded a bullish outlook over the previous figures. Post 12:30 GMT the pair took a new turn for making corrections ahead and stood above this resistance point. The PCE & core PCE of February recorded optimistic data and helped the USD to crop up. | The pair recorded few high levels throughout the day. The pair hit the highest point of the day near 111.88 levels during the North American session. Followed by many EUR & USD events, the pair had managed to remain above the support line near 1.1146 levels. | The pair recorded few high levels throughout the day. Post 12:30 GMT the pair took a new turn for making corrections ahead and stood above this resistance point. The pair remained within the 0.7060 / 40 levels. | ab28c84d-85ca-4644-8f02-734325e0ef37 |
709243.0 | 2019-04-29 00:00:00 UTC | U.S Inflation and Personal Spending Places the USD in the Spotlight | DBO | https://www.nasdaq.com/articles/u.s-inflation-and-personal-spending-places-usd-spotlight-2019-04-29 | nan | nan | FXEmpire.com -
Earlier in the Day:
There were no material stats released through the Asian session this morning.
A lack of stats left the Asian markets to respond to Friday’s economic data out of the U.S.
Across the Majors
At the time of writing, Kiwi Dollar was up 0.24% to $0.6678, with the Aussie Dollar was up 0.20% to $0.7056. Support early on came from the U.S stats from Friday. While the U.S economy grew by 3.2%, consumption and investment slumped, pinning back the greenback.
For the Japanese Yen, it was a flat start to the day, with the Yen down 0.02% to ¥111.60 against the U.S Dollar. Volumes were on the lighter side for the Yen, with Japanese markets closed for the week.
In the equity markets
At the time of writing, the Hang Seng and CSI300 were up by 0.76% and by 0.78% respectively, while the ASX200 was down 0.50%. While hopes of a resolution to the U.S – China trade war supported HK and Chinese stocks, the ASX200 failed to find support from the gains in the U.S on Friday.
On the ASX200, bank stocks were amongst the heavy losers on the day, with the big 4 weighing through the session.
The Day Ahead:
For the EUR
There are no material stats due out of the Eurozone to provide direction through the day. With no material stats, the markets will consider Eurozone business confidence and economic sentiment figures due out later this morning.
Last week we saw the EUR’s sensitivity to the disappointing consumer confidence figures. We can expect the same today.
On the corporate earnings front, with no major corporate earnings releases out of the EU, Alphabet Inc. earnings later in the day could influence risk appetite.
Following last week’s GDP numbers out of the U.S, U.S inflation and personal spending figures due out this afternoon will set the tone ahead of Wednesday.
At the time of writing, the EUR was up 0.06% at $1.1158.
For the Pound
There are no material stats due out of the UK today to provide the Pound with direction. A lack of stats leaves the Pound in the hands of Brexit chatter through the day.
Chatter from the weekend was more about gaining power than delivering a deal. The Pound could begin to struggle should there be a continued lack of progress on Brexit. The EU elections are rapidly approaching.
At the time of writing, the Pound was up 0.12% to $1.2932.
Across the Pond
Personal spending and the FED’s preferred Core PCE Price Index figures are due out this afternoon.
We can expect the Dollar to be particularly sensitive to the stats. Following the 1st quarter GDP figures on Friday, the market continues to price in a FED rate cut later in the year. Inflationary pressures have abated and consumption and investment slumped in the 1st quarter.
Any contrarian numbers later today and we can see the Dollar rally resume.
Outside of the stats, U.S corporate earnings will also be in focus. Alphabet Inc earnings will be of influence to risk appetite later in the day.
At the time of writing, the Dollar Spot Index was down by 0.04% to 97.964.
For the Loonie
It’s a quiet day on the economic calendar. Market risk sentiment will be the key driver. We can expect some influence from crude oil prices later in the day, however.
The Loonie was up 0.02% at C$1.3452, against the U.S Dollar, at the time of writing, the gains coming in spite of a pullback in crude oil prices.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Following last week’s GDP numbers out of the U.S, U.S inflation and personal spending figures due out this afternoon will set the tone ahead of Wednesday. Across the Pond Personal spending and the FED’s preferred Core PCE Price Index figures are due out this afternoon. The Loonie was up 0.02% at C$1.3452, against the U.S Dollar, at the time of writing, the gains coming in spite of a pullback in crude oil prices. | With no material stats, the markets will consider Eurozone business confidence and economic sentiment figures due out later this morning. On the corporate earnings front, with no major corporate earnings releases out of the EU, Alphabet Inc. earnings later in the day could influence risk appetite. Following the 1st quarter GDP figures on Friday, the market continues to price in a FED rate cut later in the year. | A lack of stats left the Asian markets to respond to Friday’s economic data out of the U.S. Across the Majors At the time of writing, Kiwi Dollar was up 0.24% to $0.6678, with the Aussie Dollar was up 0.20% to $0.7056. The Day Ahead: For the EUR There are no material stats due out of the Eurozone to provide direction through the day. This article was originally posted on FX Empire More From FXEMPIRE: Forex Daily Recap – Poor CPI Data Pushed Down the Greenback Near 97.14 Weekly Low Levels USD/JPY Weekly Price Forecast – US dollar struggles for the week Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 11/05/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A lack of stats left the Asian markets to respond to Friday’s economic data out of the U.S. Across the Majors At the time of writing, Kiwi Dollar was up 0.24% to $0.6678, with the Aussie Dollar was up 0.20% to $0.7056. With no material stats, the markets will consider Eurozone business confidence and economic sentiment figures due out later this morning. On the corporate earnings front, with no major corporate earnings releases out of the EU, Alphabet Inc. earnings later in the day could influence risk appetite. | 18014a45-063a-43ca-b253-fa82097de1ab |
709244.0 | 2019-04-26 00:00:00 UTC | Forex Daily Recap – The Greenback Lost Hold of 98.00 Top Levels on Weaker US Q1 GDP & PCE Data | DBO | https://www.nasdaq.com/articles/forex-daily-recap-greenback-lost-hold-98.00-top-levels-weaker-us-q1-gdp-pce-data-2019-04 | nan | nan | FXEmpire.com -
US Dollar Index
Today, the greenback lost hold of the 98 top levels. The pair plunged straight away 0.38 percent after the release of poor US Q1 GDP results. The US GDP reported 0.6 percent over the expectation of 1.3 percent.
USD Index 60 Min 26 April 2019
Also, the US Personal Consumption Expenditures (PCE) Prices and Core PCE Prices for Q1 was below consensus. In the middle of such adverse reports, the US reported two positive events as well. Firstly, the US Annualized Q1 GDP came out 1.2 percent higher than the market expectation. Secondly, the April Michigan Consumer Sentiment Index reported 0.21 percent above the consensus estimation. Anyhow, the three negative results won over the two positive ones. The USD Index that computes the greenback against its rivals touched the day’s low near 97.86 levels. Post 15:00 GMT, the index appeared recovering the lost gains drifting around 97.97 levels.
EUR/USD
The Euro pair extended its last day’s consolidation phase into today’s session. The pair continued to remain fluctuated in the range of 1.1130/40 levels. In the last couple of sessions, the EUR/USD remained silent amid a light euro significant economic calendar.
Investors went unnerved as the fragile pair was hovering near its 18 months low levels. However, there was a slight upliftment in the pair at around 12:30 GMT. More precisely, the EUR/USD got uplifted 36 pips marking fresh highs near 1.1171 levels. The pair went north amid weakening US Dollar Index. The greenback had fallen after the release of downbeat US Q1 GDP data. Here the consensus had taken a bearish stance on the US Q1 GDP Index. They expected a 0.6 percent decrease in the index this time, to the prior 1.3 percent.
Nevertheless, the index came around more 0.7 percent less than the estimates, reporting near 0.6 percent. Even the US Q1 QoQ Personal Consumption Expenditures Prices was 0.7 percent lower than the expectation. The EUR/USD limited gains as the US Annualized Q1 GDP data came out higher-than-expectation.
USD/JPY
The USD/JPY pair attempted recovering after yesterday’s 0.81 percent drop. The pair stared during the Asian Session around the 111.55 levels. Later, the safe haven pair displayed a few corrections. Further, the pair collapsed and came back to the opening point 111.55 levels at 15:00 GMT.
USDJPY 60 Min 26 April 2019
The pair attempted corrections after the USD Q1 Annualized GDP event came out positive. This GDP went highly bullish and reached near 3.2 percent than the previous 2.2 percent. However, the other US indexes for the day appeared bearish. The PCE, core PCE, and the GDP Price Index came out pessimistic. These events caused the USD/JPY pair to slip down. In the meanwhile, reports suggested that the US-Sino Trade Settlement will likely happen within two months period. This news further helped the USD/JPY pair to improve, reaching near 111.60 levels.
AUD/USD
The AUD/USD pair opened up at the 0.7021 levels and kept towering above its opening line. The pair crossed the previous highest point 0.7049 levels. The Aussie pair recorded three corrective bounce, one at 0.7022 levels, second at 0.7033 levels and third at 0.7039 levels. The pair is currently trading at 0.7053 levels at 14:45 GMT. The Aussie specific events occurred deficient to the estimated numbers. The QoQ PPI lacked with 0.2 percent while the YoY PPI remained 0.1 percent deficit. However, the Import PPI improved with 1 percent, but the Export PPI remained unfavorable. The AUD/USD pair could not benefit much after the release of the above Australian PPI indexes.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The USD Index that computes the greenback against its rivals touched the day’s low near 97.86 levels. In the last couple of sessions, the EUR/USD remained silent amid a light euro significant economic calendar. USDJPY 60 Min 26 April 2019 The pair attempted corrections after the USD Q1 Annualized GDP event came out positive. | USD Index 60 Min 26 April 2019 Also, the US Personal Consumption Expenditures (PCE) Prices and Core PCE Prices for Q1 was below consensus. Even the US Q1 QoQ Personal Consumption Expenditures Prices was 0.7 percent lower than the expectation. USDJPY 60 Min 26 April 2019 The pair attempted corrections after the USD Q1 Annualized GDP event came out positive. | The US GDP reported 0.6 percent over the expectation of 1.3 percent. Nevertheless, the index came around more 0.7 percent less than the estimates, reporting near 0.6 percent. The Aussie pair recorded three corrective bounce, one at 0.7022 levels, second at 0.7033 levels and third at 0.7039 levels. | The US GDP reported 0.6 percent over the expectation of 1.3 percent. USDJPY 60 Min 26 April 2019 The pair attempted corrections after the USD Q1 Annualized GDP event came out positive. The Aussie pair recorded three corrective bounce, one at 0.7022 levels, second at 0.7033 levels and third at 0.7039 levels. | 2f22ae62-8415-4a43-b1b2-4369168a1474 |
709245.0 | 2019-04-26 00:00:00 UTC | Corporate Earnings and U.S GDP Numbers Keep the USD in Focus | DBO | https://www.nasdaq.com/articles/corporate-earnings-and-u.s-gdp-numbers-keep-usd-focus-2019-04-26 | nan | nan | FXEmpire.com -
Earlier in the Day:
Theeconomic calendarwas on the busier side through the Asian session this morning.
Key stats included March trade figures out of New Zealand, April inflation, retail sales and industrial production figures out of Japan. For the Aussie Dollar, wholesale inflation numbers were released.
For the Kiwi Dollar,
According to NZStats, the annual trade deficit narrowed from NZ$6,620m to NZ$5,620m in March. Rising exports and a fall in imports led to better than forecasted trade figures.
Exports hit a record high in March, rising by NZ$899m (19%) to NZ5.7bn. Higher exports of dairy, meat and forestry products, from China, in particular, drove exports.
In contrast, the total value of imports fell by NZ$174m (-3.5%) to NZ$4.8bn.
The monthly trade surplus widened from NZ$12m to NZ$922m in March, the highest since April 2011.
While the monthly trade surplus hit an 8-year high, the annual trade deficit of NZ$5,620m remains at high levels.
The Kiwi Dollar moved from $0.66327 to $0.66340 upon release of the figures. At the time of writing, Kiwi Dollar was up 0.23% to $0.6641 for the session.
For the Japanese Yen,
Tokyo core consumer prices rose by 1.3% in April, which was better than a forecasted and March 1.1% increase.
According to figures released by the Ministry of Internal Affairs and Communication,
Rising prices for fuel, light and water charges (+6.4%), furniture and household utensils (+3.2%) and culture and recreation (+2.6%) contributed to the pickup in inflationary pressure.
A 0.5% fall in prices for transportation and communication was the only negative number in April.
Also dragging on inflation was a 0.5% rise in prices for housing, a 0.7% rise in prices for education and a 0.8% rise in prices medical care.
Retail sales rose by 1%, coming in ahead of a forecasted 0.8% increase. In February, retail sales rose by 0.6%. The figures were released by the Ministry of Economy, Trade and Industry.
Industrial production fell by 0.9% in March, according to prelim figures released by Ministry of Economy, Trade and Industry,
Industries that mainly contributed to the decrease were: Motor vehicles; production machinery; and fabricated metals.
Industries that mainly contributed to an increase were: Electronic parts and devices; general-purpose and business-oriented machinery; and inorganic and organic metals.
The Japanese Yen moved from ¥111.555 to ¥111.510 upon release of the figures. At the time of writing, the Japanese Yen was flat at ¥111.63 against the U.S Dollar
For the Aussie Dollar,
Wholesale prices rose by 0.4% in the 1st quarter from the 4th quarter. While in line with forecasts, inflation softened from 0.5% in the 4th quarter. The annual rate of wholesale inflation stood at 1.9%, reflecting a softening in factory gate prices from the 4th quarter of 2018. Forecasts were for wholesale inflation to hold steady at 2%.
According to figures released by the ABS,
The 0.4% increase was attributed to an increase in prices received for: Other agriculture (+10.3%); heavy and civil engineering construction (+0.4%) and tertiary education (+1.7%).
Partially offsetting were falls in prices for Petroleum refining and petroleum fuel manufacturing (-3.1%); accommodation (-2.8%) and pharmaceutical and medical product manufacturing (-1.9%).
The Aussie Dollar moved from $0.70231 to $0.70171 upon release of the figures. At the time of writing, the Aussie Dollar was up 0.11% to $0.7023.
The Day Ahead:
For the EUR,
France’s jobseeker figures are the only stats due out of the Eurozone. The stats are unlikely to have a material impact on the EUR.
Market risk sentiment will continue to be the key driver, with recent economic data suggesting that ECB is likely to remain on the more dovish side near-term.
On the corporate earnings front, Deutsche Bank and Daimler are due to release earnings later this morning. Disappointing numbers could add further pressure on to the EUR.
At the time of writing, the EUR was up 0.04% at $1.1136.
For the Pound,
Mortgage approvals due out of the UK will unlikely have an impact on the Pound. The focus will remain on Parliament and Brexit, which continues to fuel uncertainty over what lies ahead.
At the time of writing, the Pound was up 0.03% to $1.2903.
Across the Pond,
1st quarter GDP numbers and finalized consumer sentiment figures are due out of the U.S.
The GDP numbers are not only expected to, reflect the effects of the extended government shutdown, but also the ongoing trade war with China.
Outside of the stats, U.S corporate earnings will also be in focus. Key earnings results include those for Chevron Corp. and Exxon Mobil Corp.
At the time of writing, the Dollar Spot Index was down by 0.06% to 98.147.
For the Loonie,
There are no material stats due out this afternoon, leaving the Loonie in the hands of crude oil prices and risk sentiment.
The Loonie was up 0.03% at C$1.3481, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to figures released by the Ministry of Internal Affairs and Communication, Rising prices for fuel, light and water charges (+6.4%), furniture and household utensils (+3.2%) and culture and recreation (+2.6%) contributed to the pickup in inflationary pressure. Market risk sentiment will continue to be the key driver, with recent economic data suggesting that ECB is likely to remain on the more dovish side near-term. Key earnings results include those for Chevron Corp. and Exxon Mobil Corp. At the time of writing, the Dollar Spot Index was down by 0.06% to 98.147. | While the monthly trade surplus hit an 8-year high, the annual trade deficit of NZ$5,620m remains at high levels. Industrial production fell by 0.9% in March, according to prelim figures released by Ministry of Economy, Trade and Industry, Industries that mainly contributed to the decrease were: Motor vehicles; production machinery; and fabricated metals. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast – Crude oil markets fall again US Stock Markets Could Rally Beyond Expectations S&P 500 Price Forecast – Stock markets get hit The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats included March trade figures out of New Zealand, April inflation, retail sales and industrial production figures out of Japan. At the time of writing, the Japanese Yen was flat at ¥111.63 against the U.S Dollar For the Aussie Dollar, Wholesale prices rose by 0.4% in the 1st quarter from the 4th quarter. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast – Crude oil markets fall again US Stock Markets Could Rally Beyond Expectations S&P 500 Price Forecast – Stock markets get hit The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, wholesale inflation numbers were released. Also dragging on inflation was a 0.5% rise in prices for housing, a 0.7% rise in prices for education and a 0.8% rise in prices medical care. At the time of writing, the Japanese Yen was flat at ¥111.63 against the U.S Dollar For the Aussie Dollar, Wholesale prices rose by 0.4% in the 1st quarter from the 4th quarter. | fbf418d0-29f7-4aa4-9205-bb7fae374060 |
709246.0 | 2019-04-25 00:00:00 UTC | The BoJ Revises Forecasts as the Focus Shifts to Corporate Earnings | DBO | https://www.nasdaq.com/articles/boj-revises-forecasts-focus-shifts-corporate-earnings-2019-04-25 | nan | nan | FXEmpire.com -
Earlier in the Day:
Theeconomic calendarwas on the quieter side through the Asian session this morning. With both New Zealand and Australian market closed, volumes were also on the lighter side.
While there were no material stats released, the Bank of Japan delivered its April monetary policy decision.
For the Japanese Yen,
The Bank of Japan held rates unchanged at -0.10%, which was in line with market expectations. Following a string of disappointing stats, the uncertainty circled around whether there would be any immediate plans to ease policy further.
While holding the target yield for 10-year government bonds at about zero, the Bank also maintained its forecast for core CPI at 1.1% for 2019. Forecasts for 2020 were lowered from 1.5% to 1.4%, however.
GDP numbers were also revised downward from 0.9% to 0.8% for 2019 and from 1% to 0.9% for 2020.
On forward guidance, the Bank advised that interest rates would remain very low for an extended period of time.
At the time of writing, the Japanese Yen was up by 0.20% to ¥111.97 against the U.S Dollar. The Yen showed little immediate reaction to the shift in forward guidance and revisions to both growth and inflation.
Elsewhere,
At the time of writing, the Aussie Dollar was up 0.09% to $0.7021. The Kiwi Dollar was up 0.11% to $0.6600 for the session. A pullback in the greenback provided some early relief with volumes on the lighter side in the session.
In the equity markets,
The Nikkei was up by 0.26% at the time of writing, with the gains coming in spite of a stronger Yen. The Hang Seng and CSI300 were in the red early on, down by 0.08% and 0.71% respectively.
The Day Ahead:
For the EUR,
No material stats are due out of the Eurozone today. While there are no stats due for release, the ECB’s economic bulletin will garner plenty of attention later this morning.
Further negative commentary on the economic outlook would pin the EUR back in the early part of the European session.
Following the ECB Economic Bulletin, the focus will shift to corporate earnings, with risk sentiment likely to be a key driver throughout the day.
At the time of writing, the EUR up by just 0.01% to $1.1156.
For the Pound,
It’s a relatively quiet day ahead on theeconomic calendar CBI Industrial Trend Order figures for April are due out this morning. Barring a material move from March’s figure, which was the weakest since May 2018, there’s unlikely to be too much impact on the Pound.
On the Brexit front, Theresa May found support from the 1922 Committee on Wednesday. The Committee rejected a rule change on Conservative Party leadership contests that leaves Theresa May as the Party leader for now…
At the time of writing, the Pound was up 0.03% to $1.2906.
Across the Pond,
Durable goods orders and the weekly jobless claims figures are due out of the U.S. The focus will likely be on the durable goods orders, with the markets looking for a bounce back from February’s 0.2% fall.
Risk sentiment will likely remain the key driver, with U.S corporate earnings in focus. Key earnings results include those for Amazon.com Inc., American Airlines Group Inc., Ford Motor Co., and South West Airlines.
At the time of writing, the Dollar Spot Index was down by 0.13% to 98.014.
For the Loonie,
The Loonie will likely remain on the defensive following Wednesday’s BoC forward guidance. There are no material stats due out of Canada today.
Market risk sentiment and the weekly EIA crude oil inventory numbers will likely have less of an impact on the day.
The Loonie was up 0.02% at C$1.3490, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Further negative commentary on the economic outlook would pin the EUR back in the early part of the European session. Following the ECB Economic Bulletin, the focus will shift to corporate earnings, with risk sentiment likely to be a key driver throughout the day. For the Pound, It’s a relatively quiet day ahead on theeconomic calendar CBI Industrial Trend Order figures for April are due out this morning. | Following the ECB Economic Bulletin, the focus will shift to corporate earnings, with risk sentiment likely to be a key driver throughout the day. Risk sentiment will likely remain the key driver, with U.S corporate earnings in focus. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Forecast – Gold markets fail to hang onto gains NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7773.50, Weakens Under 7798.50 Natural Gas Price Prediction – Prices Fall but Continue to Consolidate The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Japanese Yen was up by 0.20% to ¥111.97 against the U.S Dollar. Following the ECB Economic Bulletin, the focus will shift to corporate earnings, with risk sentiment likely to be a key driver throughout the day. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Forecast – Gold markets fail to hang onto gains NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7773.50, Weakens Under 7798.50 Natural Gas Price Prediction – Prices Fall but Continue to Consolidate The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While there were no material stats released, the Bank of Japan delivered its April monetary policy decision. A pullback in the greenback provided some early relief with volumes on the lighter side in the session. At the time of writing, the EUR up by just 0.01% to $1.1156. | 066b7a74-3acb-44cc-b0a6-4ec19b6331c1 |
709247.0 | 2019-04-24 00:00:00 UTC | Forex Daily Recap – Bears Continued Throttling the EUR/USD Following Sparse German IFO Reports | DBO | https://www.nasdaq.com/articles/forex-daily-recap-bears-continued-throttling-eur/usd-following-sparse-german-ifo-reports | nan | nan | FXEmpire.com -
EUR/USD
The Euro pair back to where it started at the start of the month. During the European session, the pair hit the lowest vicinity near 1.1180 levels. The pair reached this day’s low, breaching the active resistance line of 1.1185 levels, earlier marked on April 2. Now, coming to the rationales behind this plunge in the pair. In the Asian session, the pair had opened up low as investor sentiment seemed to weigh more on the US Dollar Index.
EURUSD 60 Min 24 April 2019
The EUR/USD was pushed further down after the release of sparse German IFO reports. All the German April Current Assessment, Expectations, and Business Climate came out lower-than-expectation. Following the release of such weak reports, the EUR/USD got hammered from 1.1223 levels to 1.1180 levels. The US Dollar Index benefitted the most out of the Euro fall. The greenback skyrocketed reaching a new day’s high near 97.85 levels.
USD/CAD
The loonie pair made a positive opening soaring from 1.3428 levels reaching near 1.3453 levels. The pair jumped this 25 pips on the back of optimistic updates on the US-Sino trade agreement. Reports had suggested that the US Officials will leave soon to Beijing to resume trade talks. The USD/CAD pair jumped around 71 pips in a matter of seconds following the BoC’s monetary statement. The Bank officials decided to keep the interest rates unchanged at 1.75 percent, noting economic sluggishness. This news undermined the Canadian Dollars, taking the loonie pair upwards. In the meantime, the EIA reported a massive pile of US Crude Inventories. The Stocks change computed since April 19 recorded 5.479 million, in comparison to the expectation of 1.255 million. Crude prices fell following the EIA reports reaching near $65.70 per barrel. The crude upliftment gave an extra boost to the USD/CAD marking the day’s high near 1.3520 levels.
AUD/USD
The AUD/USD pair opened up on Wednesday morning near 0.7091 levels and significantly slumped 0.75 percent. The Aussie Dollar later remained in the range of 0.7049/24 levels. The AUD/USD had then slipped to 0.7031 levels creating a new lowest record for the month. The Asian trading session break down occurred after the release of Australian CPI. Things worsened after reports revealed a drop in US-Aussie T-Bond yields.
AUDUSD 60 Min 24 April 2019
The street analysts had expected the Aussie CPI to come near 0.4 percent. However, it recorded around 0.1 percent down. Laterwards, the RBA Trimmed Mean CPI emerged more bearish than anticipated. The market was shocked over the Australian inflation which touched the lowest 1.3 percent in three years. Later the US-Aussie 10 year Government Bond yields reduced to negative 0.76 basis points. Notably, this drop in the bond is the lowest level in 38 years. In this way, the pair suffered a huge dropdown effect and further pushed to toggle between 0.7027 levels.
USD/JPY
The pair started with 111.77 levels during the Asian session and seesawed throughout the day. The USD/JPY pair tumbled reaching creating day’s fresh lows near 111.69 levels. Things reversed after 10:30 GMT, and it continued to stir up reaching 111.74 levels. The USD/JPY pair had slipped following the Japanese Economic Indexes. These indexes appeared more bearish than expected which undermined the JPY to boost up. The safe heaven pair was hovering near 111.96 levels at 17:46 GMT.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The pair reached this day’s low, breaching the active resistance line of 1.1185 levels, earlier marked on April 2. In the Asian session, the pair had opened up low as investor sentiment seemed to weigh more on the US Dollar Index. This article was originally posted on FX Empire More From FXEMPIRE: NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7773.50, Weakens Under 7798.50 AUD/USD Price Forecast – Australian dollar continues to test major support area USD/JPY Price Forecast – US dollar gaps lower to kick off the week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The AUD/USD had then slipped to 0.7031 levels creating a new lowest record for the month. The USD/JPY pair tumbled reaching creating day’s fresh lows near 111.69 levels. This article was originally posted on FX Empire More From FXEMPIRE: NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7773.50, Weakens Under 7798.50 AUD/USD Price Forecast – Australian dollar continues to test major support area USD/JPY Price Forecast – US dollar gaps lower to kick off the week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The pair reached this day’s low, breaching the active resistance line of 1.1185 levels, earlier marked on April 2. Following the release of such weak reports, the EUR/USD got hammered from 1.1223 levels to 1.1180 levels. The loonie pair made a positive opening soaring from 1.3428 levels reaching near 1.3453 levels. | EURUSD 60 Min 24 April 2019 The EUR/USD was pushed further down after the release of sparse German IFO reports. The AUD/USD had then slipped to 0.7031 levels creating a new lowest record for the month. The Asian trading session break down occurred after the release of Australian CPI. | 1ca23497-1a6a-4f32-a943-a20484af4e55 |
709248.0 | 2019-04-23 00:00:00 UTC | Dollar Prepares to Storm Significant Levels | DBO | https://www.nasdaq.com/articles/dollar-prepares-storm-significant-levels-2019-04-23 | nan | nan | FXEmpire.com -
US Dollar Index
The Dollar began trading on this week at around 97 for USDX, remaining near the high-end of its 6 months’ trading range. The American currency has repeatedly departed from these levels, but this year the corrective kickbacks became less pronounced. This can be viewed as a sign of the weakening pressure from the dollar sellers. The Breakthrough of the resistance area could be able to shift the scope of USDX buyers to a major round level of 100, and further to 103, to where the dollar climbed in early 2017.
GBPUSD
The British pound remains trapped between the support on a 200-day moving average (now at around 1.2970) and a resistance level at around 1.3000. In addition, it’s worth mentioning that the GBPUSD pair has fallen below the uptrend support, but the reverse to decline will only be confirmed after the pair goes under the previous local lows of 1.2970.
EURUSD
Following a Euro’s sale at the end of last week, this week began with a cautious growth of the single currency to to 1.1250 dollar. There will be not much economic releases at European session on Tuesday, thus volatility is expected to be lighter. Among important macroeconomic publications today, it is worth paying attention to the U.S. new home sales. The real estate market is a significant indicator of overall economic activity. Lower housing sales will be able to help the EURUSD repair some of its losses.
Brent
Oil has jumped at the start of the week by 3%% to $66 for WTI and 73.70 for Brent. The reason behind this spike was the announcement that US will no longer grant sanctions waivers to any country that is currently importing from Iran. In addition to the collapse of production in Venezuela and the rigid OPEC+ quotas, this solution will shift the balance of production and consumption further towards the deficit. This is very good and positive news for oil itself, but it is worth keeping an eye on the comments from OPEC and the presidential administration. The chances of OPEC + increasing the levels of quotas is now higher. Moreover Trump, in turn, has repeatedly put verbal pressure on oil quotes, as he sees cheaper Oil to be the source of economic growth.
This article was written by FxPro
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Breakthrough of the resistance area could be able to shift the scope of USDX buyers to a major round level of 100, and further to 103, to where the dollar climbed in early 2017. This is very good and positive news for oil itself, but it is worth keeping an eye on the comments from OPEC and the presidential administration. This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: DASH Technical Analysis – Support Levels in Play –03/05/19 Price of Gold Fundamental Daily Forecast – Could Break Sharply if Payrolls Jump Above 210K European Equities: It Could be a Choppy Day Ahead The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - US Dollar Index The Dollar began trading on this week at around 97 for USDX, remaining near the high-end of its 6 months’ trading range. Following a Euro’s sale at the end of last week, this week began with a cautious growth of the single currency to to 1.1250 dollar. Brent Oil has jumped at the start of the week by 3%% to $66 for WTI and 73.70 for Brent. | FXEmpire.com - US Dollar Index The Dollar began trading on this week at around 97 for USDX, remaining near the high-end of its 6 months’ trading range. Following a Euro’s sale at the end of last week, this week began with a cautious growth of the single currency to to 1.1250 dollar. This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: DASH Technical Analysis – Support Levels in Play –03/05/19 Price of Gold Fundamental Daily Forecast – Could Break Sharply if Payrolls Jump Above 210K European Equities: It Could be a Choppy Day Ahead The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - US Dollar Index The Dollar began trading on this week at around 97 for USDX, remaining near the high-end of its 6 months’ trading range. The Breakthrough of the resistance area could be able to shift the scope of USDX buyers to a major round level of 100, and further to 103, to where the dollar climbed in early 2017. Following a Euro’s sale at the end of last week, this week began with a cautious growth of the single currency to to 1.1250 dollar. | def051db-2aae-4756-820f-60bab69677df |
709249.0 | 2019-04-12 00:00:00 UTC | China Exports Impress with Focus Shifting to Corporate Earnings to Fuel Risk | DBO | https://www.nasdaq.com/articles/china-exports-impress-focus-shifting-corporate-earnings-fuel-risk-2019-04-12 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session was on the heavier side this morning. Key stats included Business PMI and electronic card sales out of New Zealand and March trade data out of China.
Outside of the numbers, the RBA also released its financial stability review.
For the Kiwi Dollar,
The Business PMI decreased from 53.7 to 51.9 in March, recording the lowest level since July 2018. According to the figures released by BusinessNZ,
The employment sub-index was the only sub-index to improve in March, rising from 50.8 to 51.9.
Weighing on the headline number were falls in the sub-indexes for production and new orders. New orders fell from 54.4 to 52.5, with the production sub-index falling from 53.6 to 51.4.
Finished stocks also fell, with the sub-index falling from 55.0 to 53.1.
Electronic card retail sales fell by 0.3% in March, partially reversing a downwardly revised 0.6% rise in February. According to figures released by NZStats,
The decline was attributed to a 1.9% slide in spending on durables (appliances, electronics, and hardware).
Spending on apparel also declined in March.
Spending on consumables increased by 0.5%, with spending on fuel rising by 0.7%. There was also an increase in spending on other necessities at the end of the quarter.
For the 1st quarter of the year, total credit card spending rose by 1%, reversing a 0.3% fall from the 4th quarter of last year.
Quarter-on-quarter, spending on fuel fell by 6.2% in the 1st The decline came off the back of a slide in fuel prices.
The Kiwi Dollar moved from $0.67294 to $0.67246 upon release of the figures. At the time of writing, the Kiwi Dollar was up 0.04% to $0.6731 for the session
For the Aussie Dollar,
The RBA’s Financial Stability Review weighed on the Aussie Dollar early in the day. The RBA noted that:
Global economic growth has slowed, with asset prices remaining at elevated levels.
Domestic economic growth has also eased, with the housing market remaining weak.
Risks to Australian financial stability include:
Vulnerabilities in key trading partners and global financial markets remain elevated. The likelihood of an event adversely impacting those vulnerabilities has seemingly increased.
Trade tensions could escalate.
High household debt increases the vulnerability of households and the financial sector to a sharp deterioration in economic conditions. A cut in consumption would compound economic weakness.
The slowing Housing market is expected to face more pressure from an increase in the supply of apartments.
The Aussie Dollar moved from $0.71311 to $0.71192 upon release of the review, which preceded trade data out of China.
Out of China,
Exports jumped by 14.2% in March, coming in well ahead of a forecasted 7.3% increase. Exports had tumbled by 20.8% in February. Imports fell by 7.6%, which was far greater than a forecasted 1.3% decline. Imports had fallen by 5.2% in February.
The Aussie Dollar moved from $0.71257 to $0.71357 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.06% at $0.7128, the gains coming in spite of a gloomy financial stability review.
Elsewhere,
The Japanese Yen down by 0.15% to ¥111.83 against the U.S Dollar.
In the equity markets, the ASX200 and Nikkei closed out the day with gains of 0.85% and 0.73% respectively. In contrast, the Hang Seng and CSI300 were in the red at the time of writing, down by 0.38% and 0.73% respectively.
The Day Ahead:
For the EUR
Economic data due out of the Eurozone is limited to finalized inflation figures for Spain and February industrial production figures for the Eurozone.
While finalized inflation figures will unlikely have an impact on the EUR, industrial production figures will likely influence.
Looking across the member states, while manufacturing PMI numbers reflected weaker output in February, industrial production figures painted a different picture.
Industrial production in France, Germany, and Italy saw unexpected increases in production supporting a positive reading later this morning. Forecasts are for production to fall by 0.5%.
While industrial production figures will have an influence, market risk sentiment will be the key driver through the day. March trade figures out of China this morning reflected a larger than forecasted increase in exports, which was a positive for risk appetite ahead of the European open.
At the time of writing, the EUR was up 0.28% at $1.1285.
For the Pound
It’s another quiet day on the economic calendar. The quiet day will leave events in Parliament in focus through the day.
Will Teresa May make it to the weekend? She made it through day 1, but there’s no guarantee she’ll make it to the weekend, let alone 31st October.
On the bright side, the Pound will have a respite from all the Brexit chatter, at least for now, though expect this to be a short-lived one. Lawmakers will be pushing agendas, which will include the possibility of a 2nd EU Referendum…
At the time of writing, the Pound was up 0.05% to $1.3063.
Across the Pond
Economic data due out of the U.S includes import and export price figures, which are due out ahead of April prelim consumer sentiment figures.
For the Greenback, the focus will be on the consumer sentiment figures.
Outside of the numbers, corporate earnings will likely be the key driver for U.S Treasury yields this afternoon. JPMorgan Chase and Wells Fargo will release quarterly earnings today and will set the tone for the season. Disappointing results and expect yields and risk appetite to take a tumble.
At the time of writing, the Dollar Spot Index was down by 0.15% to 97.032.
For the Loonie
It’s been a quiet week on the data front, which hasn’t been a bad thing for the Loonie. While the lack of stats was positive, a slide in crude oil prices on Thursday put the Loonie back under pressure.
Market risk sentiment and the influence on China’s trade data on crude oil prices will be the key driver today.
The Loonie was up 0.12% at C$1.3367, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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AUD/USD and NZD/USD Fundamental Daily Forecast – Dropping Sharply Ahead of Australian CPI Report
USD/JPY Price Forecast – US dollar finding a bid
US Stock Market Overview – S&P and Nasdaq Hit All Time Highs!
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking across the member states, while manufacturing PMI numbers reflected weaker output in February, industrial production figures painted a different picture. March trade figures out of China this morning reflected a larger than forecasted increase in exports, which was a positive for risk appetite ahead of the European open. Market risk sentiment and the influence on China’s trade data on crude oil prices will be the key driver today. | Risks to Australian financial stability include: Vulnerabilities in key trading partners and global financial markets remain elevated. The Day Ahead: For the EUR Economic data due out of the Eurozone is limited to finalized inflation figures for Spain and February industrial production figures for the Eurozone. Market risk sentiment and the influence on China’s trade data on crude oil prices will be the key driver today. | At the time of writing, the Kiwi Dollar was up 0.04% to $0.6731 for the session For the Aussie Dollar, The RBA’s Financial Stability Review weighed on the Aussie Dollar early in the day. The Day Ahead: For the EUR Economic data due out of the Eurozone is limited to finalized inflation figures for Spain and February industrial production figures for the Eurozone. Across the Pond Economic data due out of the U.S includes import and export price figures, which are due out ahead of April prelim consumer sentiment figures. | At the time of writing, the Kiwi Dollar was up 0.04% to $0.6731 for the session For the Aussie Dollar, The RBA’s Financial Stability Review weighed on the Aussie Dollar early in the day. While industrial production figures will have an influence, market risk sentiment will be the key driver through the day. The Loonie was up 0.12% at C$1.3367, against the U.S Dollar, at the time of writing. | aad28aa8-2c07-4d14-a9aa-bb2661aa8bdb |
709250.0 | 2019-04-11 00:00:00 UTC | Forex Daily Recap – Dollar Index Rebounded Previous Losses On The Back Of Strong US Reports | DBO | https://www.nasdaq.com/articles/forex-daily-recap-dollar-index-rebounded-previous-losses-back-strong-us-reports-2019-04-11 | nan | nan | FXEmpire.com -
US Dollar Index
The greenback remained sustained with a sideways pattern during the Asian trading session in the range of 96.90/95 levels. The US Dollar Index had shot straight up on the release of multiple higher than expected US reports. The US March Producer Price Index (PPI) reported 0.3 percent above the market expectation.
USD Index 30 Min 11 April 2019
The MoM reports for the US March PPI figures excluding Food and Energy revealed 0.1 percent above the street estimates. Both Initial Jobless Claims computed since April 9, and Continuing Jobless Claims calculated since March 29 reported lower than the analyst anticipation provided an extra boost to the already rising US Dollar Index. The DXY had touched the strong resistance of 97.19 level making it the day’s high at 17:58 GMT.
USD/JPY
After plunging continuously for three days in a row, the safe-haven pair was 0.44 percent today. The USD/JPY pair opened up on Thursday morning near 111.01 level. The pair later on slowly kept climbing the chart knocking off the strong 111.53 resistance level. The main pushing force behind the yen pair was the uplifting US Dollar Index. The greenback computed against the six major rival currencies went above the 97.00 level rebounding last day’s losses. The USD Index had risen underpinned strong US Producer Price Index (PPI), and Jobless claims figures. Along with these positive reports, the 10-year T-bond went 0.75 percent up adding fuel to the pair’s upward rally.
EUR/USD
The Euro pair remained in the consolidation phase near 1.1276 level during the early Asian trading session. German March Consumer Price Index (Both YoY & MoM) reported in-line with the respective consensus estimates. However, the EUR/USD faced steep falls reaching day’s fresh low near 1.1254 levels. The greenback soared amid positive reports touching new highs pushing down the most prominent rival euro and thereby generating strong pullbacks for the EUR/USD. Earlier the day, ECB President Mario Draghi and ECB Governing Council member & Bank of France Head Villeroy had mentioned their dovish stance regarding eurozone economic slowdown.
GBP/USD
The GBP/USD rang the opening bell on Thursday morning near 1.3094 levels. It saw some slight upward initially but failed to keep up the hold dropping near the lower vicinity marking fresh low for the day at 1.3057 level. The previous day, the EU had granted the UK with an additional Brexit extension until October 31. This time, the extension is a bit “flexible” one which means the UK can leave at any point within the deadline after ratifying a proper deal with the EU.
GBPUSD 30 Min 11 April 2019
But, the cable bulls remained silent despite such a flexible Brexit extension. The cable also falls prey to the rising greenback. The Pound pair slumped after the release of above the expected US PPI figures and lowest Jobless claims recorded since 1969.
AUD/USD
The Aussie pair started the morning session near 0.7169 level and was pushed off the cliff making it land somewhere near the lower vicinity of 0.7120 level. The continuous tumbling in the AUD/USD was backed obviously on the strengthening US Dollar Index. The US had released some splendid report numbers which brought forth the deepened plunge in the significant rival currencies weighed against the greenback.
This article was originally posted on FX Empire
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The U.S China Trade War, the UK Pound and the Eurozone Economy in Focus
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | USD Index 30 Min 11 April 2019 The MoM reports for the US March PPI figures excluding Food and Energy revealed 0.1 percent above the street estimates. The greenback soared amid positive reports touching new highs pushing down the most prominent rival euro and thereby generating strong pullbacks for the EUR/USD. This article was originally posted on FX Empire More From FXEMPIRE: The U.S China Trade War, the UK Pound and the Eurozone Economy in Focus Crude Oil Price Update – Buyers Stepping in to Defend Against Closing Price Reversal Top E-mini S&P 500 Index (ES) Futures Technical Analysis – April 23, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | USD Index 30 Min 11 April 2019 The MoM reports for the US March PPI figures excluding Food and Energy revealed 0.1 percent above the street estimates. Both Initial Jobless Claims computed since April 9, and Continuing Jobless Claims calculated since March 29 reported lower than the analyst anticipation provided an extra boost to the already rising US Dollar Index. The USD Index had risen underpinned strong US Producer Price Index (PPI), and Jobless claims figures. | FXEmpire.com - US Dollar Index The greenback remained sustained with a sideways pattern during the Asian trading session in the range of 96.90/95 levels. Both Initial Jobless Claims computed since April 9, and Continuing Jobless Claims calculated since March 29 reported lower than the analyst anticipation provided an extra boost to the already rising US Dollar Index. The Aussie pair started the morning session near 0.7169 level and was pushed off the cliff making it land somewhere near the lower vicinity of 0.7120 level. | The US March Producer Price Index (PPI) reported 0.3 percent above the market expectation. GBPUSD 30 Min 11 April 2019 But, the cable bulls remained silent despite such a flexible Brexit extension. The Aussie pair started the morning session near 0.7169 level and was pushed off the cliff making it land somewhere near the lower vicinity of 0.7120 level. | 2931162b-6390-4da9-aec9-211d3f5955f7 |
709251.0 | 2019-04-11 00:00:00 UTC | Forex Daily Recap – Dollar Index Rebounded Previous Losses On The Back Of Strong US Reports | DBO | https://www.nasdaq.com/articles/forex-daily-recap-dollar-index-rebounded-previous-losses-back-strong-us-reports-2019-04-0 | nan | nan | US Dollar Index
The greenback remained sustained with a sideways pattern during the Asian trading session in the range of 96.90/95 levels. The US Dollar Index had shot straight up on the release of multiple higher than expected US reports. The US March Producer Price Index (PPI) reported 0.3 percent above the market expectation.
The MoM reports for the US March PPI figures excluding Food and Energy revealed 0.1 percent above the street estimates. Both Initial Jobless Claims computed since April 9, and Continuing Jobless Claims calculated since March 29 reported lower than the analyst anticipation provided an extra boost to the already rising US Dollar Index. The DXY had touched the strong resistance of 97.19 level making it the day's high at 17:58 GMT.
USD/JPY
After plunging continuously for three days in a row, the safe-haven pair was 0.44 percent today. The USD/JPY pair opened up on Thursday morning near 111.01 level. The pair later on slowly kept climbing the chart knocking off the strong 111.53 resistance level. The main pushing force behind the yen pair was the uplifting US Dollar Index. The greenback computed against the six major rival currencies went above the 97.00 level rebounding last day's losses. The USD Index had risen underpinned strong US Producer Price Index (PPI), and Jobless claims figures. Along with these positive reports, the 10-year T-bond went 0.75 percent up adding fuel to the pair's upward rally.
EUR/USD
The Euro pair remained in the consolidation phase near 1.1276 level during the early Asian trading session. German March Consumer Price Index (Both YoY & MoM) reported in-line with the respective consensus estimates. However, the EUR/USD faced steep falls reaching day's fresh low near 1.1254 levels. The greenback soared amid positive reports touching new highs pushing down the most prominent rival euro and thereby generating strong pullbacks for the EUR/USD . Earlier the day, ECB President Mario Draghi and ECB Governing Council member & Bank of France Head Villeroy had mentioned their dovish stance regarding eurozone economic slowdown.
GBP/USD
The GBP/USD rang the opening bell on Thursday morning near 1.3094 levels. It saw some slight upward initially but failed to keep up the hold dropping near the lower vicinity marking fresh low for the day at 1.3057 level. The previous day, the EU had granted the UK with an additional Brexit extension until October 31. This time, the extension is a bit "flexible" one which means the UK can leave at any point within the deadline after ratifying a proper deal with the EU.
But, the cable bulls remained silent despite such a flexible Brexit extension. The cable also falls prey to the rising greenback. The Pound pair slumped after the release of above the expected US PPI figures and lowest Jobless claims recorded since 1969.
AUD/USD
The Aussie pair started the morning session near 0.7169 level and was pushed off the cliff making it land somewhere near the lower vicinity of 0.7120 level. The continuous tumbling in the AUD/USD was backed obviously on the strengthening US Dollar Index. The US had released some splendid report numbers which brought forth the deepened plunge in the significant rival currencies weighed against the greenback.
This article was originally posted on FX Empire
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Crude Oil Price Forecast - Crude oil markets continue to press against resistance
GBP/JPY Price Forecast - British pound continues to consolidate
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The greenback soared amid positive reports touching new highs pushing down the most prominent rival euro and thereby generating strong pullbacks for the EUR/USD . It saw some slight upward initially but failed to keep up the hold dropping near the lower vicinity marking fresh low for the day at 1.3057 level. This time, the extension is a bit "flexible" one which means the UK can leave at any point within the deadline after ratifying a proper deal with the EU. | The US March Producer Price Index (PPI) reported 0.3 percent above the market expectation. Both Initial Jobless Claims computed since April 9, and Continuing Jobless Claims calculated since March 29 reported lower than the analyst anticipation provided an extra boost to the already rising US Dollar Index. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast - Crude oil markets continue to press against resistance GBP/JPY Price Forecast - British pound continues to consolidate S&P 500 Price Forecast - Stock markets continue to struggle with major levels The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Both Initial Jobless Claims computed since April 9, and Continuing Jobless Claims calculated since March 29 reported lower than the analyst anticipation provided an extra boost to the already rising US Dollar Index. The Aussie pair started the morning session near 0.7169 level and was pushed off the cliff making it land somewhere near the lower vicinity of 0.7120 level. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast - Crude oil markets continue to press against resistance GBP/JPY Price Forecast - British pound continues to consolidate S&P 500 Price Forecast - Stock markets continue to struggle with major levels The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The US March Producer Price Index (PPI) reported 0.3 percent above the market expectation. The Aussie pair started the morning session near 0.7169 level and was pushed off the cliff making it land somewhere near the lower vicinity of 0.7120 level. The US had released some splendid report numbers which brought forth the deepened plunge in the significant rival currencies weighed against the greenback. | 1140ad44-89fa-4f41-b14c-68ee9b2af2e1 |
709252.0 | 2019-04-11 00:00:00 UTC | A Quiet Day on the Economic Calendar Puts Geopolitics Front and Center | DBO | https://www.nasdaq.com/articles/quiet-day-economic-calendar-puts-geopolitics-front-and-center-2019-04-11 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data was on the lighter side this morning, with key stats limited to March inflation figures out of China.
Outside of the numbers, the markets also responded to the latest FOMC meeting minutes the EU’s decision to approve a Brexit extension to 31st October.
Of interest through the European and U.S sessions on Wednesday was the lack of market interest in the IMF global growth forecasts that were released on Tuesday.
Out of China,
The annual rate of inflation accelerated in March, rising from 1.5% to 2.3%, which was in line with forecasts. A 0.4% fall in consumer prices, month-on-month, however, was greater than a forecasted 0.2% decline.
In spite of the monthly fall, wholesale prices rose by 0.4%, which was in line with forecasts. Wholesale prices rose by 0.1% in February, month-on-month.
The Aussie Dollar moved from $0.71659 to $0.71640 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.11% at $0.7163.
Elsewhere,
The Japanese Yen down by 0.05% to ¥111.07 against the U.S Dollar, while the Kiwi Dollar was down 0.06% to $0.6762 for the session. Risk off sentiment through the early part of the day weighed on the Kiwi and Aussie Dollar, while the Yen struggled to return to ¥110 levels.
In the equity markets, the ASX200 closed out the day with a 0.36% loss. The Hang Seng, and CSI300 were also in the red at the time of writing, down by 0.75% and 1.79% respectively. Bucking the trend was the Nikkei, which was up by 0.10% ahead of the close.
The Day Ahead:
For the EUR
Economic data due out of the Eurozone is limited to finalized inflation figures for Germany and France. Following Wednesday’s ECB press conference, the numbers are unlikely to have a material impact on the EUR.
Unsurprisingly, ECB President Draghi continues to see Eurozone risks tilted to the downside, a recent string of economic data supporting the dovish outlook.
The lack of stats will leave the EUR exposed to geopolitical risks and risk sentiment in general.
At the time of writing, the EUR was up 0.05% at $1.1280.
For the Pound
There are no material stats due out of the UK later this morning. While the Pound found support through the early part of the day, rumblings in Parliament could dictate direction through the latter part of the day.
The EU gave Britain an extension to 31st October, largely thanks to French President Macron. This goes beyond the requested extension to the end of June and yet again demonstrates the EU’s self-interest.
While the extension will be considered good news, Britain only narrowly avoiding a disorderly Brexit. Theresa May could find herself in some hot water in the coming days. There’s certainly sufficient time for a snap General Election ahead of the 31st October deadline.
At the time of writing, the Pound was up 0.06% to $1.3099.
Across the Pond
March wholesale inflation figures and the weekly jobless claims numbers are due out of the U.S
Barring material deviation from forecasts, the numbers are unlikely to have a material impact later this afternoon. The FOMC meeting minutes overnight revealed the FED’s view on inflation. A lack of inflationary pressure will continue to support the hold on interest rates through the remainder of the year.
Outside the numbers, market risk appetite will provide direction throughout the day. The markets will also need to consider FOMC member chatter through the day. Following the release of the FOMC meeting minutes, we can expect the markets to be receptive to the chatter.
Members Clarida, Williams, and Bullard are due to speak after FED Chair Powell, who will be speaking in the early afternoon.
At the time of writing, the Dollar Spot Index was down by 0.04% to 96.905.
For the Loonie
It’s another quiet day on theeconomic calendar leaving the Loonie in the hands of market risk sentiment and crude oil prices. Following the Loonie positive OPEC monthly report on Wednesday, the monthly IEA report today will provide some further color on supply and demand.
The Loonie was down 0.17% at C$1.3342, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: Economic data was on the lighter side this morning, with key stats limited to March inflation figures out of China. Unsurprisingly, ECB President Draghi continues to see Eurozone risks tilted to the downside, a recent string of economic data supporting the dovish outlook. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Inside Move Indicates Trader Indecision, Impending Volatility Pound Calm Early in The Week E-mini S&P 500 Index (ES) Futures Technical Analysis – Tight Range, Investors Waiting for Fresh Earnings News The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In spite of the monthly fall, wholesale prices rose by 0.4%, which was in line with forecasts. The Day Ahead: For the EUR Economic data due out of the Eurozone is limited to finalized inflation figures for Germany and France. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Inside Move Indicates Trader Indecision, Impending Volatility Pound Calm Early in The Week E-mini S&P 500 Index (ES) Futures Technical Analysis – Tight Range, Investors Waiting for Fresh Earnings News The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR Economic data due out of the Eurozone is limited to finalized inflation figures for Germany and France. Across the Pond March wholesale inflation figures and the weekly jobless claims numbers are due out of the U.S Barring material deviation from forecasts, the numbers are unlikely to have a material impact later this afternoon. For the Loonie It’s another quiet day on theeconomic calendar leaving the Loonie in the hands of market risk sentiment and crude oil prices. | Outside of the numbers, the markets also responded to the latest FOMC meeting minutes the EU’s decision to approve a Brexit extension to 31st October. In spite of the monthly fall, wholesale prices rose by 0.4%, which was in line with forecasts. Outside the numbers, market risk appetite will provide direction throughout the day. | b6601522-1de1-4109-8b1e-ad524dadb180 |
709253.0 | 2019-04-10 00:00:00 UTC | Stats, Monetary Policy and Brexit Puts the EUR, USD and GBP in Focus | DBO | https://www.nasdaq.com/articles/stats-monetary-policy-and-brexit-puts-eur-usd-and-gbp-focus-2019-04-10 | nan | nan | FXEmpire.com -
Earlier in the Day:
While it’s a busy day ahead on theeconomic calendar stats out of Asia were on the lighter side this morning. Key data included March BRC Retail Sales figures out of the UK and April consumer sentiment figures out of Australia. Core Machinery orders out Japan were also in focus in the early part of the session.
While consumer sentiment figures influenced, the markets also responded to the latest IMF global growth forecasts. On Tuesday, the IMF cut its global growth forecast to its lowest since the Global Finance Crisis. The growth forecast for 2019 was cut from 3.5% to 3.3%. The growth forecast for 2020 was left unchanged at 3.6%.
For the Japanese Yen,
Core machinery orders slid by 5.5% in February, year-on-year. Orders fell by more than a forecasted 5.2% following a 2.9% fall in January. Month-on-month, orders rose by 1.8%. While partially reversing a 5.4% slide from January, orders fell short of a forecasted 2.5% increase.
According to figures released by the Cabinet Office,
Orders from overseas jumped by 19% in February, month-on-month, reversing an 18.1% slide in January.
While the monthly increase was the 1st in 4-months, forecasts are for core machinery orders to fall by 0.9% in the 1st quarter of this year.
The Japanese Yen moved from ¥111.089 to ¥111.124 upon release of the figures. At the time of writing, the Japanese Yen down by 0.01% to ¥111.15 against the U.S Dollar.
For the Aussie Dollar,
The Westpac-Melbourne Institute Index of Consumer Sentiment rose by 1.9% to 100.7 in April. The index had fallen by 4.8% to 98.8 in March.
According to the April report,
Sentiment towards the economic outlook improved in April. The Economic Conditions next-12 months index rose by 6.2% to 101.8, with the next 5-years sub-index rising by 5.9%.
While the family finances vs a year ago sub-index fell by 4.9%, the family finances next 12-months sub-index rose by 4.1%.
The improved sentiment led to a 2.5% fall in the unemployment expectations index.
From the housing sector, the time to buy a dwelling sub-index rose by 2.4%, with the House Price Expectations Index surging by 11.9%.
In spite of the improved sentiment, the time to buy a major household item sub-index fell by 2.5%.
The Aussie Dollar moved from $0.71263 to $0.71251 upon release of the figures, which got a boost from the 2019 Budget. At the time of writing, the Aussie Dollar was up by 0.08% at $0.7130
Elsewhere,
The Kiwi Dollar was up by 0.04% to $0.6748 for the session. The Aussie and Kiwi Dollar managed to recover from losses early on.
In the equity markets, the Nikkei, Hang Seng, and CSI300 were all in the red at the time of writing. The Nikkei led way, down by 0.62%. Bucking the trend was the ASX200, which was up by 0.08% ahead of the close.
The Day Ahead:
For the EUR
While there are no material stats scheduled for release later this morning, it’s a big day for the EUR. The ECB will deliver is April policy decision and also hold the all-important press conference.
While there are no expectations that the ECB will make a move later today, forward guidance will be key. Economic data out of the Eurozone has continued to disappoint, which will have added more pressure on the ECB to act.
U.S – China trade talks have progressed, but tariffs remain and the threat of tariffs on the EU have resurfaced. To add fuel to the fire, the IMF also cut the Eurozone’s growth forecast from 1.6% to 1.3% on Tuesday.
Dovish is already priced in but anything veering towards doomsday and expect the EUR to sink. While we’ve heard of the possibility of tiered deposit rates and also seen the ECB re-activate LTRO loans, we’ve not heard any serious chatter on a possible further cut to interest rates.
At the time of writing, the EUR was down 0.04% at $1.1258.
For the Pound
It’s a big day for the Pound. On the economic data front, key stats due out of the UK include GDP, industrial and manufacturing production and trade data.
While we would traditionally see the Pound respond to the GDP and manufacturing production figures, Brexit could overshadow the numbers on the day.
Are we in for one final Brexit twist? Theresa May got the backing of an extension to June, but the EU is veering in favor of a 1-year extension to 30th March 2020. Another year of Brexit… What a prospect.
At the time of writing, the Pound was up 0.02% to $1.3054.
Across the Pond
March inflation figures are due out of the U.S this afternoon.
With the markets not expecting the FED to actually cut rates later on in the year. A jump in inflation could have a material impact on the Dollar.
Based on forecasts, there would be little reason for the FED to shift from its March projections so soon, however.
Later on the session, the FOMC meeting minutes are due out that will likely shed some more color on the FED’s intentions, vis-à-vis interest rates, and balance sheet through the 2nd half of the year.
Ahead of the FOMC meeting minutes and inflation figures, FED Chair Powell is scheduled to speak and could ultimately overshadow the meeting minutes if there’s any policy chatter that falls outside of market expectations.
Status quo and the spoils could likely go to the EUR, barring any surprise move by the ECB.
At the time of writing, the Dollar Spot Index was up by 0.03% to 97.037.
For the Loonie
There are no material stats scheduled for release to provide the Loonie with direction. Of interest, however, will be the OPEC Monthly report and inventory numbers out of the U.S.
A confirmed cut in production would be supportive of crude oil prices and the Loonie on the day.
The Loonie was down 0.02% at C$1.3333, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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USD/JPY Weekly Price Forecast – US dollar continues to struggle to break out
Crude Oil Weekly Price Forecast – Crude oil running into resistance
Natural Gas Price Forecast – Natural gas markets fall hard for the week
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to figures released by the Cabinet Office, Orders from overseas jumped by 19% in February, month-on-month, reversing an 18.1% slide in January. Later on the session, the FOMC meeting minutes are due out that will likely shed some more color on the FED’s intentions, vis-à-vis interest rates, and balance sheet through the 2nd half of the year. Of interest, however, will be the OPEC Monthly report and inventory numbers out of the U.S. A confirmed cut in production would be supportive of crude oil prices and the Loonie on the day. | Key data included March BRC Retail Sales figures out of the UK and April consumer sentiment figures out of Australia. On the economic data front, key stats due out of the UK include GDP, industrial and manufacturing production and trade data. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Weekly Price Forecast – US dollar continues to struggle to break out Crude Oil Weekly Price Forecast – Crude oil running into resistance Natural Gas Price Forecast – Natural gas markets fall hard for the week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Aussie Dollar was up by 0.08% at $0.7130 Elsewhere, The Kiwi Dollar was up by 0.04% to $0.6748 for the session. Ahead of the FOMC meeting minutes and inflation figures, FED Chair Powell is scheduled to speak and could ultimately overshadow the meeting minutes if there’s any policy chatter that falls outside of market expectations. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Weekly Price Forecast – US dollar continues to struggle to break out Crude Oil Weekly Price Forecast – Crude oil running into resistance Natural Gas Price Forecast – Natural gas markets fall hard for the week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The improved sentiment led to a 2.5% fall in the unemployment expectations index. While we would traditionally see the Pound respond to the GDP and manufacturing production figures, Brexit could overshadow the numbers on the day. With the markets not expecting the FED to actually cut rates later on in the year. | 89cb0fc4-43c8-4da8-a048-4bf6f1124c51 |
709254.0 | 2019-04-08 00:00:00 UTC | Will the EU Give the GBP a Much-Needed Brexit Boost? | DBO | https://www.nasdaq.com/articles/will-eu-give-gbp-much-needed-brexit-boost-2019-04-09 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session was on the lighter side once more this morning. Australian home loan figures were the only stats to consider in the early hours.
For the Aussie Dollar,
New home loans increased by 2% in February, partially reversing 2.6% slide in January. According to figures released by the ABS,
The number of commitments for owner occupied dwellings increased by 1.8% for first-time buyers.
Owner-occupied dwelling new commitments tumbled by 10.7% year-on-year.
Refinancing increased by 4.4%, month-on-month, while down by 6.9% year-on-year.
The Aussie Dollar moved from $0.71247 to $0.71219 upon release of the figures. At the time of writing, the Aussie Dollar was flat at $0.7127
Elsewhere,
At the time of writing, the Japanese Yen up by 0.13% to ¥111.34 against the U.S Dollar. The Kiwi Dollar was up 0.06% to $0.6745 for the session.
In the equity markets, it was mixed in the early part of the day. The Nikkei was down 0.18%, feeling pressure from a pickup in appetite for the Yen. The Hang Seng was up by 0.27%, while the ASX200 and CSI managed to recover from early losses. The pair were up by 0.07% and by 0.51% respectively.
The Day Ahead:
For the EUR
There are no material stats scheduled for release to provide the EUR with direction through the day.
Following better than expected trade data out of Germany on Monday and the softer wage growth out of the U.S last Friday, the EUR was on a tear on Monday.
The lack of stats today could see the markets look ahead to tomorrow’s ECB policy decision and press conference.
Draghi’s unlikely to be talking up the EUR anytime soon, which should pin back the EUR. In spite of a dovish Draghi, the EUR could find more upside should Theresa May get the necessary support from EU member states for the much talked about an extension.
Monetary policy divergence may have eased up in favor of the EUR of late, but the threat of U.S tariffs on the EU and a failure to wrap up the U.S – China trade talks are ever present.
At the time of writing, the EUR was up 0.03% at $1.1266.
For the Pound
Another quiet day on the data front continues to leave Brexit front and center. Key through the day will be the market reaction on Theresa May’s ability to convince EU member states to agree to an extension.
We can also expect the markets to respond to the House of Lords move late on Monday.
The House of Lords allowed the passing of the European Union (Withdrawal) (No 5) Bill late on Monday. The Bill legally requires the British Prime Minister to seek an extension to Article 50 in order to avoid a no-deal Brexit. The Bill will be back in the Commons for a final vote. It’s yet unclear on when the debate to any changes made by the House of Lords will be held.
At the time of writing, the Pound was up 0.14% to $1.3079.
Across the Pond
It’s another quiet day ahead. February’s JOLTs job openings will be the only numbers out of the U.S in focus later today.
Following the better than expected nonfarm payroll figures, the quit rate will provide further indication of worker confidence in labor market conditions. The quit rate held steady at 2.3% in January, so would need to be in line with or higher to reflect a rise in worker confidence.
Outside of the numbers, market risk sentiment will provide direction for the Dollar. While trade negotiations continue to be a key driver, Brexit will also influence appetite for U.S Treasuries on the day.
On the earnings front, the first big release will be on Friday, with both JPMorgan Chase and Wells Fargo releasing 1st quarter figures. Ahead of Friday’s numbers, the markets could get a taste of what’s to come, however, which could also influence risk appetite.
At the time of writing, the Dollar Spot Index was down by 0.06% to 96.995.
For the Loonie
It’s a quiet day on theeconomic calendar leaving the Loonie in the hands of U.S crude oil inventory numbers and risk sentiment.
A sharp pullback in the Greenback on Monday provided the Loonie with much-needed support. The pullback followed the disappointing wage growth figures released on Friday and another fall in factory orders.
Adding to the upside for the Loonie was a jump in crude oil prices, as fighting in Libya breaks out. Risks of supply disruption led the WTI to a day high $64.44 before easing back to $63 Levels. With supply disruption, planned OPEC production cutbacks and reports of a jump in buying by China, there could be more gains on the way.
The Loonie was up 0.02% at C$1.3311, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Monetary policy divergence may have eased up in favor of the EUR of late, but the threat of U.S tariffs on the EU and a failure to wrap up the U.S – China trade talks are ever present. The Bill legally requires the British Prime Minister to seek an extension to Article 50 in order to avoid a no-deal Brexit. Following the better than expected nonfarm payroll figures, the quit rate will provide further indication of worker confidence in labor market conditions. | For the Pound Another quiet day on the data front continues to leave Brexit front and center. Outside of the numbers, market risk sentiment will provide direction for the Dollar. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast – Euro gives up gains Gold Price Prediction – Gold Continues to Slip, as Negative Momentum Accelerates Natural Gas Price Prediction – Prices Drop Through Support on Declining Demand The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Aussie Dollar was flat at $0.7127 Elsewhere, At the time of writing, the Japanese Yen up by 0.13% to ¥111.34 against the U.S Dollar. The Day Ahead: For the EUR There are no material stats scheduled for release to provide the EUR with direction through the day. For the Loonie It’s a quiet day on theeconomic calendar leaving the Loonie in the hands of U.S crude oil inventory numbers and risk sentiment. | The Aussie Dollar moved from $0.71247 to $0.71219 upon release of the figures. At the time of writing, the Aussie Dollar was flat at $0.7127 Elsewhere, At the time of writing, the Japanese Yen up by 0.13% to ¥111.34 against the U.S Dollar. The Loonie was up 0.02% at C$1.3311, against the U.S Dollar, at the time of writing. | a0fac7ab-05e8-4d3c-b55e-05314c393189 |
709255.0 | 2019-04-08 00:00:00 UTC | Forex Daily Recap – The Greenback 30 Pips Down Acted As A Catalyst For Its Major Rivals | DBO | https://www.nasdaq.com/articles/forex-daily-recap-greenback-30-pips-down-acted-catalyst-its-major-rivals-2019-04-08 | nan | nan | FXEmpire.com -
US Dollar Index
The USD Index started trading at near 97.30 level. The index bled continuously during the day until it found some support near the 97.00 level. The pair rebounded from the same support vicinity twice in the afternoon session. The overall sentiment of the greenback was pretty low amid global concerns. The US February MoM Factory Orders reported as a negative 0.5 percent in place of the consensus estimate of a negative 0.6 percent. The significant rivals that weigh against the greenback benefitted most of the dollar plunge today.
USD Index 5 Min 8 April 2019
EUR/USD
The biggest rival that rose against the greenback was the euro pair. The pair kicked off during the Asian trading session near the lowest vicinity of 1.1218 level. EUR/USD created a new high for the day near 1.1275 level. Along with the plummet in the US Dollar Index, the German February Trade Balance recorded figures higher than market expectation. The consensus had estimated €17.0B while the actual numbers came out as €18.7B. The Eurozone Sentix Investor Confidence for the April month recorded a negative 0.3 points as compared to the street expectation of a negative 2.1 points.
USD/CAD
The loonie pair opened up on Monday morning near 1.3377 levels after sustaining two days of a range-bound pattern. The USD/CAD fell steeply later the day on the back of massive crude price upsurge. The pair was trading at a new four-day low level at 1.3313 touching the lowest vicinity. The plunge in the pair took place in the middle of falling US Dollar Index. The Index was 0.30 percent down hovering near the 97.00 level. Crude prices recorded fresh highs for the day amid rising geopolitical issues in the Libyan region and OPEC supply cuts. These global cues led to the upliftment in the crude prices thereby escalating the commodity-linked currency – Canadian dollars. The West Texas Intermediate (WTI) was trading near $64.00, 1.75 percent up for the day.
AUD/USD
The Aussie pair started the day near the lower vicinity of 0.7095 level. The pair shot up breaking all the in-between resistance levels. The AUD/USD pair reached near the strong resistance level of 0.7130 level but failed to breach it. The pair instead continued to stay in the consolidation mode after that. The weakening in the US Dollar Index was the primary driver for the Aussie pair upshot. The dollar was falling despite increased US yields reaching 2.50 percent. AUD/USD is on its path of recovering the previous incurred massive losses and getting stronger on the back of a weak greenback.
AUDUSD 5 Min 8 April 2019
GBP/USD
The cable rang the Monday morning bell at 1.3037 level from where the GBP/USD kept uplifting. As GBP/USD had no significant events during the day, the fall in the greenback remains the primary reason behind the rise in the pair. The cable had touched the strong resistance level marking the day’s high at 1.3072 level. GBP/USD dropped vigorously from that high point rebounding again at 1.3036 level. However, the cable was again last seen to head to the same upper vicinity level. On the Brexit front, things are still uncertain, and no events pertaining to the same had happened during today’s trading session. UK PM Theresa May had put forth a request to the EU for an extension until June 30. May is anticipating a proper response to her request ahead of Wednesday’s EU summit. Fears of a year additional extension to the Brexit deadline have weighed more on the pair increasing the selling bais among the investor community.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Crude prices recorded fresh highs for the day amid rising geopolitical issues in the Libyan region and OPEC supply cuts. Fears of a year additional extension to the Brexit deadline have weighed more on the pair increasing the selling bais among the investor community. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Futures (GC) Technical Analysis – Another $20 to Downside if $1268.90 Fails as Support Upbeat China GDP Sends Gold to Multi-Month Lows E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – April 17, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - US Dollar Index The USD Index started trading at near 97.30 level. Crude prices recorded fresh highs for the day amid rising geopolitical issues in the Libyan region and OPEC supply cuts. The cable had touched the strong resistance level marking the day’s high at 1.3072 level. | FXEmpire.com - US Dollar Index The USD Index started trading at near 97.30 level. The AUD/USD pair reached near the strong resistance level of 0.7130 level but failed to breach it. The cable had touched the strong resistance level marking the day’s high at 1.3072 level. | FXEmpire.com - US Dollar Index The USD Index started trading at near 97.30 level. The dollar was falling despite increased US yields reaching 2.50 percent. The cable had touched the strong resistance level marking the day’s high at 1.3072 level. | 4907a18b-0083-4739-99b4-50e90ef558f5 |
709256.0 | 2019-04-08 00:00:00 UTC | Forex Daily Recap – The Greenback 30 Pips Down Acted As A Catalyst For Its Major Rivals | DBO | https://www.nasdaq.com/articles/forex-daily-recap-the-greenback-30-pips-down-acted-as-a-catalyst-for-its-major-rivals-2019 | nan | nan | US Dollar Index
The USD Index started trading at near 97.30 level. The index bled continuously during the day until it found some support near the 97.00 level. The pair rebounded from the same support vicinity twice in the afternoon session. The overall sentiment of the greenback was pretty low amid global concerns. The US February MoM Factory Orders reported as a negative 0.5 percent in place of the consensus estimate of a negative 0.6 percent. The significant rivals that weigh against the greenback benefitted most of the dollar plunge today.
EUR/USD
The biggest rival that rose against the greenback was the euro pair. The pair kicked off during the Asian trading session near the lowest vicinity of 1.1218 level. EUR/USD created a new high for the day near 1.1275 level. Along with the plummet in the US Dollar Index, the German February Trade Balance recorded figures higher than market expectation. The consensus had estimated €17.0B while the actual numbers came out as €18.7B. The Eurozone Sentix Investor Confidence for the April month recorded a negative 0.3 points as compared to the street expectation of a negative 2.1 points.
USD/CAD
The loonie pair opened up on Monday morning near 1.3377 levels after sustaining two days of a range-bound pattern. The USD/CAD fell steeply later the day on the back of massive crude price upsurge. The pair was trading at a new four-day low level at 1.3313 touching the lowest vicinity. The plunge in the pair took place in the middle of falling US Dollar Index. The Index was 0.30 percent down hovering near the 97.00 level. Crude prices recorded fresh highs for the day amid rising geopolitical issues in the Libyan region and OPEC supply cuts. These global cues led to the upliftment in the crude prices thereby escalating the commodity-linked currency - Canadian dollars. The West Texas Intermediate ( WTI ) was trading near $64.00, 1.75 percent up for the day.
AUD/USD
The Aussie pair started the day near the lower vicinity of 0.7095 level. The pair shot up breaking all the in-between resistance levels. The AUD/USD pair reached near the strong resistance level of 0.7130 level but failed to breach it. The pair instead continued to stay in the consolidation mode after that. The weakening in the US Dollar Index was the primary driver for the Aussie pair upshot. The dollar was falling despite increased US yields reaching 2.50 percent. AUD/USD is on its path of recovering the previous incurred massive losses and getting stronger on the back of a weak greenback.
GBP/USD
The cable rang the Monday morning bell at 1.3037 level from where the GBP/USD kept uplifting. As GBP/USD had no significant events during the day, the fall in the greenback remains the primary reason behind the rise in the pair. The cable had touched the strong resistance level marking the day's high at 1.3072 level. GBP/USD dropped vigorously from that high point rebounding again at 1.3036 level. However, the cable was again last seen to head to the same upper vicinity level. On the Brexit front, things are still uncertain, and no events pertaining to the same had happened during today's trading session. UK PM Theresa May had put forth a request to the EU for an extension until June 30. May is anticipating a proper response to her request ahead of Wednesday's EU summit. Fears of a year additional extension to the Brexit deadline have weighed more on the pair increasing the selling bais among the investor community.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Along with the plummet in the US Dollar Index, the German February Trade Balance recorded figures higher than market expectation. Crude prices recorded fresh highs for the day amid rising geopolitical issues in the Libyan region and OPEC supply cuts. Fears of a year additional extension to the Brexit deadline have weighed more on the pair increasing the selling bais among the investor community. | Crude prices recorded fresh highs for the day amid rising geopolitical issues in the Libyan region and OPEC supply cuts. The cable had touched the strong resistance level marking the day's high at 1.3072 level. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Rise, But Fail to Eclipse Resistance EUR/USD Price Forecast - Euro breaks out of short term consolidation Forex Daily Recap - The Greenback 30 Pips Down Acted As A Catalyst For Its Major Rivals The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The AUD/USD pair reached near the strong resistance level of 0.7130 level but failed to breach it. The cable had touched the strong resistance level marking the day's high at 1.3072 level. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Rise, But Fail to Eclipse Resistance EUR/USD Price Forecast - Euro breaks out of short term consolidation Forex Daily Recap - The Greenback 30 Pips Down Acted As A Catalyst For Its Major Rivals The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The US February MoM Factory Orders reported as a negative 0.5 percent in place of the consensus estimate of a negative 0.6 percent. The dollar was falling despite increased US yields reaching 2.50 percent. The cable had touched the strong resistance level marking the day's high at 1.3072 level. | cd151002-585a-445d-b011-b654be472b95 |
709257.0 | 2019-04-08 00:00:00 UTC | A light Calendar Leaves Brexit and the GBP in the Spotlight | DBO | https://www.nasdaq.com/articles/light-calendar-leaves-brexit-and-gbp-spotlight-2019-04-08 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session was on the lighter side this morning. Current account figures out of Japan were the only stats to consider in the early hours. Later in the day, Japanese consumer confidence figures will provide further direction following disappointing household spending figures from Friday. Overnight, loan growth figures out of China were released ahead of the Asian open.
For the Japanese Yen,
According to figures released by the Ministry of Finance, the current account surplus widened from ¥600.4tn to ¥2.677tn in February. Forecasts were for a widening to ¥2.679tn.
The Japanese Yen moved from ¥111.714 to ¥111.666 against the U.S Dollar upon release of the figures. At the time of writing, the Japanese Yen up by 0.30% to ¥111.39 against the U.S Dollar.
Elsewhere,
At the time of writing, the Aussie Dollar was down 0.21% to $0.7090, while the Kiwi Dollar was down 0.01% to $0.6729 for the session. In spite of continued optimism over a trade deal, the Aussie Dollar was under pressure as expectations of a rate cut weighed early on.
New loans figures out of China failed to impress in March. New loans stood at 885.8bn, which came in short of a forecasted 1,200bn. The size of new loans was in line with February figures. The rate of outstanding loan growth held steady at 13.4% year-on-year, however, which was in line with forecasts.
In the equity markets, it was mixed in the early part of the day. The Nikkei was down 0.23%, with the CSI300 also in the red, down by 0.09%. The ASX200 looked set to recover some of Friday’s losses. At the time of writing, the ASX200 was up by 0.52%.
The Day Ahead:
For the EUR
Following some negative stats out of Germany last week, focus shifts to February trade data due out later this morning.
Forecasts are for Germany’s trade surplus to narrow from €18.5bn to €18.0bn. Barring particularly dire numbers, we would expect the EUR to show little reaction to today’s figures.
Outside of the numbers, updates on both Brexit and U.S – China trade talks will also influence. With the ECB policy decision and press conference on Wednesday, there’s unlikely to be too much upside for the EUR, however.
At the time of writing, the EUR was up 0.12% at $1.1230.
For the Pound
There are no material stats scheduled for release through the day. The focus will remain on Brexit, with the EU’s 10th April deadline now just days away.
With time running out, all eyes will be on the House of Lords, which is due to vote on the Cooper Bill that was rushed through Parliament.
While the House of Lords passing of the Bill is a must, Theresa May could deliver Parliament with a deal to vote on. How much wriggle room the British PM has remains to be seen. Any deviation from the script would need EU agreement…
Over the weekend, Theresa May looked to fend off another Tory party rebellion over her reach out to opposition party leader Corbyn. The early part of the day could give some indications as to whether Theresa May was successful. There seems to be little point in trying to get support from the opposition party only to lose more support from within.
At the time of writing, the Pound was up 0.23% to $1.3068.
Across the Pond
It’s a quiet day ahead on the economic calendar. February factory orders, due out of the U.S, will provide the Dollar with direction later this afternoon.
Forecasts are for factory orders to fall in February, which would be aligned with the downward trend in new orders reflected in the manufacturing PMI surveys. According to the market’s preferred ISM survey, the New Orders Index fell by 2.7% in February, before recovering to 57.4 in March (+1.9%).
Outside of the numbers, market risk sentiment will provide direction for the Dollar ahead of the numbers. While trade negotiations continue to be a key driver, Brexit will also influence appetite for U.S Treasuries on the day.
At the time of writing, the Dollar Spot Index was down by 0.14% to 97.258.
For the Loonie
Economic data due out later today is limited to February building permit and March housing start figures. The numbers are unlikely to have a material impact on the Loonie as the markets look ahead to this week’s monthly OPEC and IEA reports.
While crude oil prices will provide some direction to the Loonie, any upside remains limited. The Bank of Canada’s dovish stance on monetary policy will likely continue to weigh on the Loonie near-term.
The Loonie was down 0.04% at C$1.3378, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In spite of continued optimism over a trade deal, the Aussie Dollar was under pressure as expectations of a rate cut weighed early on. The Day Ahead: For the EUR Following some negative stats out of Germany last week, focus shifts to February trade data due out later this morning. For the Loonie Economic data due out later today is limited to February building permit and March housing start figures. | FXEmpire.com - Earlier in the Day: Economic data released through the Asian session was on the lighter side this morning. The Day Ahead: For the EUR Following some negative stats out of Germany last week, focus shifts to February trade data due out later this morning. For the Loonie Economic data due out later today is limited to February building permit and March housing start figures. | Later in the day, Japanese consumer confidence figures will provide further direction following disappointing household spending figures from Friday. The Day Ahead: For the EUR Following some negative stats out of Germany last week, focus shifts to February trade data due out later this morning. This article was originally posted on FX Empire More From FXEMPIRE: Market Outlook: April 15-19, 2019 GBP/USD Daily Price Forecast – The Cable Lingers Near 1.3080 levels Ahead Of The UK Unemployment Data Natural Gas Price Prediction – Prices Drop as LNG Exports Slow The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Loonie Economic data due out later today is limited to February building permit and March housing start figures. While crude oil prices will provide some direction to the Loonie, any upside remains limited. The Loonie was down 0.04% at C$1.3378, against the U.S Dollar, at the time of writing. | aaca7b76-7d7f-44e4-9f0f-4e297e4d0c5a |
709258.0 | 2019-04-04 00:00:00 UTC | A Quiet Day Ahead Leaves Brexit and the Pound in Focus | DBO | https://www.nasdaq.com/articles/quiet-day-ahead-leaves-brexit-and-pound-focus-2019-04-04 | nan | nan | FXEmpire.com -
Earlier in the Day:
Following a busy start to the week, there were no material stats released through the Asian session to provide direction this morning.
While there were no numbers for the markets to consider, economic data out of the U.S on Wednesday reined back the bulls to a certain extent.
It’s all about the U.S – China trade negotiations now. While there’s been plenty of progress, the markets will be looking for the U.S to begin removing the existing tariffs, or at least start talking about it.
For the Majors,
At the time of writing, the Aussie Dollar was up 0.04% to $0.7116, with the Kiwi Dollar up 0.10% to $0.6785 for the session. With the mixed Asian session and U.S futures pointing to a shaky open, the Japanese Yen was up by 0.07% to ¥111.41 against the U.S Dollar. Some reversals following the recent trends can be expected should the markets have little to go on in the day ahead.
In the equity markets, the Nikkei managed a 0.03% gain, while the ASX200 ended the day with a 0.83% loss. At the time of writing, the CSI300 was up 0.79%, while the Hang Seng was down by 0.36%, with some profit-taking contributing to the pullback from levels last hit back in June of last year.
The Day Ahead:
For the EUR
It’s a quieter day ahead on the economic data front, though we can expect the EUR to be on the move through the day. February factory order numbers are due out of Germany in the early part of the day. While forecasts are for a 0.3% rise, it’s going to need to be far better than that to reverse the recent downward trend. Factor orders have fallen for 3 consecutive months and November’s 1% decline was the best of the bunch.
If Germany’s manufacturing PMI numbers are anything to go by, a 0.3% rise may be on the optimistic side. According to the February PMI survey, the downward trend in new orders accelerated, largely driven by a slide in export sales. New business from abroad fell the most since Oct-2012. Moving to the March PMI survey, new orders saw their largest fall since Apr-2009.
Outside of the numbers, the ECB monetary policy meeting minutes from 7th March are also scheduled for release. Following a particularly dovish press conference and some dovish chatter thereafter, the minutes could further discuss the ECB’s willingness to ease further.
While economic data out of China and hopes of a U.S – China trade agreement may have eased the market angst, the reality remains that the Eurozone economy is struggling.
Service sector PMI numbers released on Wednesday may have been on the more positive side, but the bread and butter manufacturing numbers have not been…
Ahead of the numbers and the minutes, market risk sentiment will continue to influence. The latest MP vote preventing a no-deal Brexit was also a positive for the EUR in the early hours.
At the time of writing, the EUR was up 0.11% at $1.1245.
For the Pound
It’s a particularly quiet day on the economic calendar. With no material stats scheduled for release through the day, the focus will remain on Brexit.
Wednesday was another big day in Parliament, with the key vote being the passing of the Cooper Bill. Labour MP Yvette Cooper’s bill forces Theresa May to request for a long extension to Brexit day in the event that there is no deal by 12th April. The House of Lords will need to approve the bill possibly later today. The bigger hurdle could be EU member state support, however.
It wasn’t a resounding victory, with the bill getting through by just 1 vote. What’s next remains to be seen. Theresa May and Opposition Party leader Corbyn will continue their discussions to find a compromise.
Expect the Pound to continue to bounce around as the news wires deliver updates through the day. Of interest will be whether the House of Lords is willing to favor the bill later today. The speed with which the bill passed through Parliament and the 1 vote majority will test the House.
At the time of writing, the Pound was up 0.14% to $1.3177.
Across the Pond
It’s a quiet day ahead on the economic calendar. The weekly jobless claims figures are the only key stats due out of the U.S.
After the week ADP figures on Wednesday, we can expect a degree of sensitivity to today’s numbers.
Any moves will likely be short-lived, however, with a combination of drivers likely to be in play through the day. Positive sentiment towards U.S trade negotiations and updates on Brexit will likely be the main considerations.
Risk on and expect the Dollar to ease further back. We’ve yet to see any data out of the U.S to support a resumption of rate hikes by the FED.
At the time of writing, the Dollar Spot Index was down by 0.02% to 97.07.
For the Loonie
Following a quiet first half of the week, the Ivey PMI is due out later today. The numbers will have to be impressive for the Loonie to hold onto any gains from the stats. Economic data out of Canada continues to be on the softer side, supporting the BoC’s dovish stance on policy.
Outside of the numbers, crude oil prices will continue to influence. The latest EIA figures didn’t do any favors on Wednesday. A sizeable buildup pinned the Loonie back in spite of the risk on sentiment through the day.
The Loonie was down 0.04% at C$1.3353, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: Following a busy start to the week, there were no material stats released through the Asian session to provide direction this morning. Labour MP Yvette Cooper’s bill forces Theresa May to request for a long extension to Brexit day in the event that there is no deal by 12th April. This article was originally posted on FX Empire More From FXEMPIRE: Technical analysis: Bitcoin Correction is not Over Yet AUD/USD Forex Technical Analysis – April 12, 2019 Forecast Equity Bears are Crying in Their Soup Today The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - Earlier in the Day: Following a busy start to the week, there were no material stats released through the Asian session to provide direction this morning. Service sector PMI numbers released on Wednesday may have been on the more positive side, but the bread and butter manufacturing numbers have not been… Ahead of the numbers and the minutes, market risk sentiment will continue to influence. This article was originally posted on FX Empire More From FXEMPIRE: Technical analysis: Bitcoin Correction is not Over Yet AUD/USD Forex Technical Analysis – April 12, 2019 Forecast Equity Bears are Crying in Their Soup Today The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR It’s a quieter day ahead on the economic data front, though we can expect the EUR to be on the move through the day. Service sector PMI numbers released on Wednesday may have been on the more positive side, but the bread and butter manufacturing numbers have not been… Ahead of the numbers and the minutes, market risk sentiment will continue to influence. The weekly jobless claims figures are the only key stats due out of the U.S. After the week ADP figures on Wednesday, we can expect a degree of sensitivity to today’s numbers. | Service sector PMI numbers released on Wednesday may have been on the more positive side, but the bread and butter manufacturing numbers have not been… Ahead of the numbers and the minutes, market risk sentiment will continue to influence. Risk on and expect the Dollar to ease further back. The Loonie was down 0.04% at C$1.3353, against the U.S Dollar, at the time of writing. | 3a11c97f-3478-4a36-8c12-fbfc94a7b120 |
709259.0 | 2019-04-03 00:00:00 UTC | Forex Daily Recap – The Greenback Weighed Lower To Its Rival On The Back Of Poor Reports Published | DBO | https://www.nasdaq.com/articles/forex-daily-recap-greenback-weighed-lower-its-rival-back-poor-reports-published-2019-04-03 | nan | nan | FXEmpire.com -
US Dollar Index
The Index that had touched the three-and-a-half high on the previous day tumbled with the same momentum today. Slowing down of US Bond Yields and dovish stances of global central banks increased the selling pressure on the greenback. The USD Index opened on Wednesday morning at 96.87 level, falling straight to the lowest vicinity of 96.53 level.
However, the plunge seemed to diminish with positive news on US-Sino trade talks. Myron Brilliant, Executive VP for International Affairs at the U.S. Chamber of Commerce said “Ninety percent of the deal is over, but the last 10% is the hardest part, it’s the trickiest part, and it will require trade-offs on both sides,”
More than expected Eurozone February Retail sales figures (YoY) also bolstered the DYX to rise a bit more during the European trading session.
US March ISM Non-Manufacturing Purchasing Managers Index (PMI) recorded lower than the market expectation. PMI reported 3.39 percent down to the consensus estimate. ADP released poor US March employment change numbers. DYX, however, created a fresh day low of 96.96 level. After a slight upliftment out of a few positive events, DYX again rebounded near 97 levels.
EUR/USD
After plunging in the North American trading session, the euro pair uplifted underpinned highly optimistic events. Markit Economics reported above the consensus Purchasing Managers Index (PMI) for Spain, Italy, and France. Eurozone February Retail Sales Figures YoY recorded 2.8 percent in comparison to the 2.3 percent street expectation. The plunging USD Index further led the EUR/USD to climb new heights today.
EURUSD 5 Min 3 April 2019
The EUR/USD broke yesterday’s strong resistance level of 1.1248 touching 1.1255 level. Easing global conditions amid settling US-China trade talks and Brexit hopes, further helped the pair to maintain the upper levels during the day.
GBP/USD
After consolidating in the early hours, the pair extended last day’s uptrend at 1.3132 level. Pound Sterling uplifted during the day over hopes developed around easing Brexit. The pair extended the upward rally for the third trading session. This positive behavior of the cable increased multifold after UK PM Theresa May said that she would meet the opposition Labour Party leader Jeremy Corbyn to talk about breaching the Brexit impasse.
As per Britain’s Press Association reports, May also has plans to arrange meetings with Nicola Sturgeon, Scotland’s First Minister and Mark Drakeford, the First Minister of Wales. Markit Economics reported weaker UK March Markit Services PMI reports. The PMI came around 48.9 points, before the consensus estimate of 50.9 points. This negative UK PMI figures triggered a slump shedding the gains accumulated during the Asian trading session. The GBP/USD was trading near 1.3171 level at 16:15 GMT.
AUD/USD
AUDUSD 5 Min 3 April 2019
The Aussie opened on Wednesday morning with a huge green candle ranging from 0.7060 to 0.7100 level. Thereon, the AUD/USD kept up the bull run knocking off the significant resistance of 0.7128 level. March ANZ Commodity Price surprised the market with a report of 1.4 percent as compared to the consensus estimate of -0.3 percent. February Retail Sales reported 0.6 percent up as to the market expectation of 0.2 percent. February Australian Trade Balance was 1001 million above the expectation.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Easing global conditions amid settling US-China trade talks and Brexit hopes, further helped the pair to maintain the upper levels during the day. This positive behavior of the cable increased multifold after UK PM Theresa May said that she would meet the opposition Labour Party leader Jeremy Corbyn to talk about breaching the Brexit impasse. This article was originally posted on FX Empire More From FXEMPIRE: Risk Mode is ON again Natural Gas Price Fundamental Daily Forecast – Traders Expecting Large Injection Next Week E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Bulls Facing Challenge at 26285 to 26337 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Markit Economics reported above the consensus Purchasing Managers Index (PMI) for Spain, Italy, and France. Eurozone February Retail Sales Figures YoY recorded 2.8 percent in comparison to the 2.3 percent street expectation. Markit Economics reported weaker UK March Markit Services PMI reports. | The USD Index opened on Wednesday morning at 96.87 level, falling straight to the lowest vicinity of 96.53 level. Myron Brilliant, Executive VP for International Affairs at the U.S. Chamber of Commerce said “Ninety percent of the deal is over, but the last 10% is the hardest part, it’s the trickiest part, and it will require trade-offs on both sides,” More than expected Eurozone February Retail sales figures (YoY) also bolstered the DYX to rise a bit more during the European trading session. Easing global conditions amid settling US-China trade talks and Brexit hopes, further helped the pair to maintain the upper levels during the day. | However, the plunge seemed to diminish with positive news on US-Sino trade talks. Eurozone February Retail Sales Figures YoY recorded 2.8 percent in comparison to the 2.3 percent street expectation. February Retail Sales reported 0.6 percent up as to the market expectation of 0.2 percent. | f9eef3ed-2772-4330-b67b-3fdf377a7450 |
709260.0 | 2019-04-03 00:00:00 UTC | Forex Daily Recap – The Greenback Weighed Lower To Its Rival On The Back Of Poor Reports Published | DBO | https://www.nasdaq.com/articles/forex-daily-recap-greenback-weighed-lower-its-rival-back-poor-reports-published-2019-04-0 | nan | nan | US Dollar Index
The Index that had touched the three-and-a-half high on the previous day tumbled with the same momentum today. Slowing down of US Bond Yields and dovish stances of global central banks increased the selling pressure on the greenback. The USD Index opened on Wednesday morning at 96.87 level, falling straight to the lowest vicinity of 96.53 level.
However, the plunge seemed to diminish with positive news on US-Sino trade talks. Myron Brilliant, Executive VP for International Affairs at the U.S. Chamber of Commerce said "Ninety percent of the deal is over, but the last 10% is the hardest part, it's the trickiest part, and it will require trade-offs on both sides,"
More than expected Eurozone February Retail sales figures (YoY) also bolstered the DYX to rise a bit more during the European trading session.
US March ISM Non-Manufacturing Purchasing Managers Index (PMI) recorded lower than the market expectation. PMI reported 3.39 percent down to the consensus estimate. ADP released poor US March employment change numbers. DYX, however, created a fresh day low of 96.96 level. After a slight upliftment out of a few positive events, DYX again rebounded near 97 levels.
EUR/USD
After plunging in the North American trading session, the euro pair uplifted underpinned highly optimistic events. Markit Economics reported above the consensus Purchasing Managers Index (PMI) for Spain, Italy, and France. Eurozone February Retail Sales Figures YoY recorded 2.8 percent in comparison to the 2.3 percent street expectation. The plunging USD Index further led the EUR/USD to climb new heights today.
The EUR/USD broke yesterday's strong resistance level of 1.1248 touching 1.1255 level. Easing global conditions amid settling US-China trade talks and Brexit hopes, further helped the pair to maintain the upper levels during the day.
GBP/USD
After consolidating in the early hours, the pair extended last day's uptrend at 1.3132 level. Pound Sterling uplifted during the day over hopes developed around easing Brexit. The pair extended the upward rally for the third trading session. This positive behavior of the cable increased multifold after UK PM Theresa May said that she would meet the opposition Labour Party leader Jeremy Corbyn to talk about breaching the Brexit impasse.
As per Britain's Press Association reports, May also has plans to arrange meetings with Nicola Sturgeon, Scotland's First Minister and Mark Drakeford, the First Minister of Wales. Markit Economics reported weaker UK March Markit Services PMI reports. The PMI came around 48.9 points, before the consensus estimate of 50.9 points. This negative UK PMI figures triggered a slump shedding the gains accumulated during the Asian trading session. The GBP/USD was trading near 1.3171 level at 16:15 GMT.
AUD/USD
The Aussie opened on Wednesday morning with a huge green candle ranging from 0.7060 to 0.7100 level. Thereon, the AUD/USD kept up the bull run knocking off the significant resistance of 0.7128 level. March ANZ Commodity Price surprised the market with a report of 1.4 percent as compared to the consensus estimate of -0.3 percent. February Retail Sales reported 0.6 percent up as to the market expectation of 0.2 percent. February Australian Trade Balance was 1001 million above the expectation.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Easing global conditions amid settling US-China trade talks and Brexit hopes, further helped the pair to maintain the upper levels during the day. This positive behavior of the cable increased multifold after UK PM Theresa May said that she would meet the opposition Labour Party leader Jeremy Corbyn to talk about breaching the Brexit impasse. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast - Australian dollar continues to find buyers on dips Trade Hope Lifts Stocks, Brexit Drama Rages On, Good Data Down Under Forex Daily Recap - The Greenback Weighed Lower To Its Rival On The Back Of Poor Reports Published The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Markit Economics reported above the consensus Purchasing Managers Index (PMI) for Spain, Italy, and France. Eurozone February Retail Sales Figures YoY recorded 2.8 percent in comparison to the 2.3 percent street expectation. Markit Economics reported weaker UK March Markit Services PMI reports. | Myron Brilliant, Executive VP for International Affairs at the U.S. Chamber of Commerce said "Ninety percent of the deal is over, but the last 10% is the hardest part, it's the trickiest part, and it will require trade-offs on both sides," More than expected Eurozone February Retail sales figures (YoY) also bolstered the DYX to rise a bit more during the European trading session. Easing global conditions amid settling US-China trade talks and Brexit hopes, further helped the pair to maintain the upper levels during the day. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast - Australian dollar continues to find buyers on dips Trade Hope Lifts Stocks, Brexit Drama Rages On, Good Data Down Under Forex Daily Recap - The Greenback Weighed Lower To Its Rival On The Back Of Poor Reports Published The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The USD Index opened on Wednesday morning at 96.87 level, falling straight to the lowest vicinity of 96.53 level. However, the plunge seemed to diminish with positive news on US-Sino trade talks. The EUR/USD broke yesterday's strong resistance level of 1.1248 touching 1.1255 level. | 301ef230-7aaa-4705-8d09-6f662a94e5a8 |
709261.0 | 2019-04-02 00:00:00 UTC | Forex Daily Recap – Amongst The Six Rivals Of Greenback, Euro Spotted The Last Position | DBO | https://www.nasdaq.com/articles/forex-daily-recap-amongst-six-rivals-greenback-euro-spotted-last-position-2019-04-02 | nan | nan | FXEmpire.com -
NZD/USD
The Kiwi pair extended previous day’s losses, but this time with more intensity. The pair tumbled down throughout the day making it to the lowest level since the second week of March. Poor Business Confidence Index and weaker fourth fiscal quarter figures had initiated the last day’s plunge. On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. The dovish economic stance of RBA further worsened the fall, uplifting selling pressure. Investors unnerved witnessing the appalling condition of the NZD/USD. The pair opened up on the Asian trading session at 0.6790 level. However, during the North American session, the pair had reached 0.6743, 0.69 percent down.
NZDUSD 5 Min 2 April 2019
US Dollar Index
The greenback computed against the major six currencies surprisingly began with a Gap Up opening, 0.096 up from the previous closing. The index knocked off the significant resistance of 97.094 level creating fresh three-week highs. In the real sense, the USD Index was supposed to drop considering the weak US Durable Goods Orders reports. February Durable Goods Orders was 1.6 percent diminished as compared to the consensus estimate of -1.8 percent. Non-defense Capital Goods Orders excluding the Aircraft reported 0.1 percent down while the market expected around 0.0 percent. Both the other reported Durable Goods Orders one excluding Defense and one excluding Transportation reported weaker than market expectation. The USD Index completely overlooked the weak reports and rose to break all the in-between resistance levels.
EUR/USD
During the day, Euro fell the most among the six major currencies weighed against the greenback. The USD Index got stronger as today’s trading session proceeded. Investors believed that the European Central Bank would hardly opt for an interest rate hike. Poor Factory data reports of the Eurozone region reported on Monday was the lowest March score in the last six years. February Producer Price Index reported 0.1 percent lower than the consensus estimate of 3.1 percent.
EURUSD 5 Min 2 April 2019
The EUR/USD opened up the day at 1.1206 level and later settled near the lowest vicinity of 1.1184 level, albeit had a small jump touching 1.1211 level. Brexit uncertainties have put the EU officials under full pressure ahead of their upcoming elections. Even the UK is not able to frame a proper deal for a Brexit, so things get light and tensions over the euro currency diminishes.
AUD/USD The Aussie pair kicked off lowered during the Asian session touching the lowest vicinity of 0.7053 level in the last three weeks. On the way to the lower side, the AUD/USD breached the strong support level of 0.71 level. The dovish outlook of the Reserve Bank of Australia (RBA) sent severe upset in the minds of the investor thereby embedding immense selling pressure on the pair. In the morning session, RBA reiterated that monetary policy interest would remain unchanged and hopes of interest rate remain almost nil. On the other side, the USD index was climbing new highs for the day dragging the pair more down.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | NZDUSD 5 Min 2 April 2019 US Dollar Index The greenback computed against the major six currencies surprisingly began with a Gap Up opening, 0.096 up from the previous closing. The dovish outlook of the Reserve Bank of Australia (RBA) sent severe upset in the minds of the investor thereby embedding immense selling pressure on the pair. This article was originally posted on FX Empire More From FXEMPIRE: Intra-Day Fibonacci Modeling Shows Volatility is About to Spike How To Choose the Best Forex and CFD Broker GBP/USD Daily Price Forecast – Cable Combats To Uphold The 1.1310 Levels Amid Flextension The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. Both the other reported Durable Goods Orders one excluding Defense and one excluding Transportation reported weaker than market expectation. February Producer Price Index reported 0.1 percent lower than the consensus estimate of 3.1 percent. | On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. February Producer Price Index reported 0.1 percent lower than the consensus estimate of 3.1 percent. EURUSD 5 Min 2 April 2019 The EUR/USD opened up the day at 1.1206 level and later settled near the lowest vicinity of 1.1184 level, albeit had a small jump touching 1.1211 level. | On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. The pair opened up on the Asian trading session at 0.6790 level. On the other side, the USD index was climbing new highs for the day dragging the pair more down. | d74dbbee-b822-467b-ab86-199d105bc618 |
709262.0 | 2019-04-02 00:00:00 UTC | Forex Daily Recap – Amongst The Six Rivals Of Greenback, Euro Spotted The Last Position | DBO | https://www.nasdaq.com/articles/forex-daily-recap-amongst-six-rivals-greenback-euro-spotted-last-position-2019-04-02-0 | nan | nan | NZD/USD
The Kiwi pair extended previous day's losses, but this time with more intensity. The pair tumbled down throughout the day making it to the lowest level since the second week of March. Poor Business Confidence Index and weaker fourth fiscal quarter figures had initiated the last day's plunge. On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. The dovish economic stance of RBA further worsened the fall, uplifting selling pressure. Investors unnerved witnessing the appalling condition of the NZD/USD . The pair opened up on the Asian trading session at 0.6790 level. However, during the North American session, the pair had reached 0.6743, 0.69 percent down.
US Dollar Index
The greenback computed against the major six currencies surprisingly began with a Gap Up opening, 0.096 up from the previous closing. The index knocked off the significant resistance of 97.094 level creating fresh three-week highs. In the real sense, the USD Index was supposed to drop considering the weak US Durable Goods Orders reports. February Durable Goods Orders was 1.6 percent diminished as compared to the consensus estimate of -1.8 percent. Non-defense Capital Goods Orders excluding the Aircraf t report ed 0.1 percent down while the market expected around 0.0 percent. Both the other reported Durable Goods Orders one excluding Defense and one excluding Transportation reported weaker than market expectation. The USD Index completely overlooked the weak reports and rose to break all the in-between resistance levels.
EUR/USD
During the day, Euro fell the most among the six major currencies weighed against the greenback. The USD Index got stronger as today's trading session proceeded. Investors believed that the European Central Bank would hardly opt for an interest rate hike. Poor Factory data reports of the Eurozone region reported on Monday was the lowest March score in the last six years. February Producer Price Index reported 0.1 percent lower than the consensus estimate of 3.1 percent.
The EUR/USD opened up the day at 1.1206 level and later settled near the lowest vicinity of 1.1184 level, albeit had a small jump touching 1.1211 level. Brexit uncertainties have put the EU officials under full pressure ahead of their upcoming elections. Even the UK is not able to frame a proper deal for a Brexit, so things get light and tensions over the euro currency diminishes.
AUD/USD The Aussie pair kicked off lowered during the Asian session touching the lowest vicinity of 0.7053 level in the last three weeks. On the way to the lower side, the AUD/USD breached the strong support level of 0.71 level. The dovish outlook of the Reserve Bank of Australia ( RBA ) sent severe upset in the minds of the investor thereby embedding immense selling pressure on the pair. In the morning session, RBA reiterated that monetary policy interest would remain unchanged and hopes of interest rate remain almost nil. On the other side, the USD index was climbing new highs for the day dragging the pair more down.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Poor Business Confidence Index and weaker fourth fiscal quarter figures had initiated the last day's plunge. US Dollar Index The greenback computed against the major six currencies surprisingly began with a Gap Up opening, 0.096 up from the previous closing. The dovish outlook of the Reserve Bank of Australia ( RBA ) sent severe upset in the minds of the investor thereby embedding immense selling pressure on the pair. | On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. Both the other reported Durable Goods Orders one excluding Defense and one excluding Transportation reported weaker than market expectation. February Producer Price Index reported 0.1 percent lower than the consensus estimate of 3.1 percent. | On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. The EUR/USD opened up the day at 1.1206 level and later settled near the lowest vicinity of 1.1184 level, albeit had a small jump touching 1.1211 level. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast - Crude oil markets continue to push Natural Gas Price Prediction - Prices Form Inside Day and Continue to Trade Sideways Forex Daily Recap - Amongst The Six Rivals Of Greenback, Euro Spotted The Last Position The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the USD Index front, the greenback rose amid weaker Durable Goods Orders reports. The pair opened up on the Asian trading session at 0.6790 level. On the other side, the USD index was climbing new highs for the day dragging the pair more down. | 1fb04d90-aa00-4591-91af-c95265bcdead |
709263.0 | 2019-04-01 00:00:00 UTC | Forex Daily Recap – Volatility Action Coming Back In The USD/CAD Pair | DBO | https://www.nasdaq.com/articles/forex-daily-recap-volatility-action-coming-back-usdcad-pair-2019-04-01-0 | nan | nan | USD/CAD
After two-days extended range-bound pair movement, the loonie finally showed high volatility. The USD/CAD maintained steadiness during the day but was seen slumping later the day.
On Monday, Bank of Canada Governor Stephen Poloz commented regarding the recent economic data directing the slowdown in domestic growth to be temporary.
The Crude Oil price surge making it reach new highs had already started undermining the par during the Asian session. Below expected both Canadian and the US, March Market Manufacturing PMI affected the pair movement deeply. Disappointing US Retail Sales Report further gave an impetus to the pullback of the loonie pair to the lowest level of 1.3300 levels before bouncing off.
USD/JPY
Today, the USD/JPY touched both the upper and lower vicinity of the chart. The pair rose slightly in the Asian session, tumbled during the European session and skyrocketed in the North American trading window. The safe-haven pair displayed some great movements during the day following the release of various Japanese data reports, the US related significant events, and other global cues.
The Japanese Tankan index revealed poor economic activity in the fourth fiscal quarter mainly due to the manufacturing sector. And these weak results were pretty expected as demand for Japanese exports had fallen for a couple of months. On the US release front, both the retail sales and core retail sales recorded below than market expectations. The USD/JPY recorded the highest jump from 110.87 to 111.44 level.
USD/CNY
The Yuan pair was seen recovering last day's heavy losses in the morning session after the report of positive Caixin/Markit PMI data. The PMI recorded shown 50.8 for the month of March which was well above the market expectation of 49.9. This positive March figure helped the Chinese stocks reach new heights, but the Yuan currency was left unlifted much. The softening of the US-Sino Trade also bolstered the USD/CNY during the day. Chinese Vice Premier Liu He had mentioned that he would have a meet up with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin for more trade talks.
EUR/USD
The Euro pair opened on Monday morning near 1.1223 level. The start was quite intriguing. The pair shot up reaching 1.1249 level following Spain's above consensus March Markit Manufacturing PMI of 50.9 points. The EUR/USD , however, couldn't sustain at those high levels for an extended period.
March Consumer Price Index ( CPI ) and Core CPI both recorded lower than the market expectation. Upbeat US March ISM Manufacturing PMI reported 55.3 points, 1.5 percent above the consensus estimate of 54.5 points. This positive US report worsened the pair plunge drastically making it drop from 1.1250 level to 1.1203 level.
AUD/USD
The AUD/USD pair was seen to fall back near the lower support area in the North American trading session regardless of having many above-the-expected positive reports during the day. National Australia Bank's March Business Conditions was 5 points up than the consensus estimate of 2 points. RBA Commodity index SDR YoY for March reported 11.0 percent higher than the market expectation. The AUD/USD bounced off near the 0.7115 vicinities twice during the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On Monday, Bank of Canada Governor Stephen Poloz commented regarding the recent economic data directing the slowdown in domestic growth to be temporary. The safe-haven pair displayed some great movements during the day following the release of various Japanese data reports, the US related significant events, and other global cues. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast - Australian dollar gapped higher to kick the week off Major Indexes Jump Over 1 Percent on Strong US and China Data Silver Price Forecast - Silver markets looking for a floored The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | March Consumer Price Index ( CPI ) and Core CPI both recorded lower than the market expectation. Upbeat US March ISM Manufacturing PMI reported 55.3 points, 1.5 percent above the consensus estimate of 54.5 points. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast - Australian dollar gapped higher to kick the week off Major Indexes Jump Over 1 Percent on Strong US and China Data Silver Price Forecast - Silver markets looking for a floored The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Yuan pair was seen recovering last day's heavy losses in the morning session after the report of positive Caixin/Markit PMI data. The AUD/USD pair was seen to fall back near the lower support area in the North American trading session regardless of having many above-the-expected positive reports during the day. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast - Australian dollar gapped higher to kick the week off Major Indexes Jump Over 1 Percent on Strong US and China Data Silver Price Forecast - Silver markets looking for a floored The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Yuan pair was seen recovering last day's heavy losses in the morning session after the report of positive Caixin/Markit PMI data. The PMI recorded shown 50.8 for the month of March which was well above the market expectation of 49.9. This positive US report worsened the pair plunge drastically making it drop from 1.1250 level to 1.1203 level. | 13af95b2-3a4f-423e-ad4e-abd2ef561ce6 |
709264.0 | 2019-03-31 00:00:00 UTC | The Pound Struggles Over Brexit, While Risk Appetite Drives the Pack | DBO | https://www.nasdaq.com/articles/pound-struggles-over-brexit-while-risk-appetite-drives-pack-2019-04-01 | nan | nan | FXEmpire.com -
Earlier in the Day:
The week kicked off with a bang. A deluge of economic data out of Asia got the majors into action early in the day. Key stats that influenced included:
Australia AIG Manufacturing Index (Mar)
All Big Industry CAPEX (Q1) (Japan)
Big Manufacturing Outlook Index (Q1) (Japan)
Large Manufacturers Index (Q1) (Japan)
Large Non-Manufacturers Index (Q1) (Japan)
Australia NAB Business Confidence (Mar)
China Caixin Manufacturing PMI (Mar)
Ahead of the Asian session, private sector PMI figures released out of China on Sunday provided support to risk appetite.
According to the NBS survey, the manufacturing sector saw growth once more. The PMI rose from 49.2 to 50.5. The service sector saw growth accelerate, with the PMI rising from 54.3 to 54.8. Both sets of figures were better than forecasted.
For the Japanese Yen,
1st quarter Tankan survey provided further guidance on how the business sentiment stood at the turn of the year. According to the Tankan Survey figures released by the Bank of Japan:
All Big Industry CAPEX (Q1) rose by 1.2%. While coming in ahead of a forecasted 0.4% decline, the increase in CAPEX was well below the 4th quarter’s 14.3% increase.
Big Manufacturing Outlook Index (Q1) fell from 15 to 8. Forecasts were for a decline to 12.
Large Manufacturers Index (Q1) fell from 19 to 12. Forecasts were for a fall to 13.
Large Non-Manufacturers Index (Q1) fell from 24 to 21, which was worse than a forecasted 22.
The Japanese Yen moved from ¥110.938 to ¥110.992 upon release of the figures. The deterioration in sentiment comes as the global economic outlook deteriorates amidst the ongoing U.S – China trade war. At the time of writing, the Japanese Yen was down by 0.26% to ¥111.15 against the U.S Dollar at the time of writing.
For the Aussie Dollar,
The AIG Manufacturing Index fell from a revised 54.0 to 52.0 in March, which was in line with forecasts. According to the latest AIG report, the decline was attributed to a slowing in the economy and to customers delaying orders ahead of the Federal Election.
The new orders sub-index fell by 2 points to 50.0, with the exports sub-index sliding by 4.5 points to 50.7.
The Aussie Dollar moved from $0.71102 to $0.71109 upon release of the figures, which preceded the business confidence numbers.
The NAB Business Confidence Index fell from 2 to 0 in March, which was worse than a forecasted rise to 4. According to the NAB Monthly Business Survey, in spite of confidence being on the decline, the business conditions index increased from 4 to 7 in March.
The Aussie Dollar moved from $0.71232 to $0.71220 upon release of the figures, which preceded China’s Caixin Manufacturing PMI.
Out of China,
The CAIXIN Manufacturing PMI rose from 49.9 to 50.8 in March. Coming in ahead of a forecasted 50.1, the PMI hit its highest level since Jul-18. According to the latest Markit survey:
Employment increased for the first time in 5-years, supported by a quicker rise in both output and overall new work.
Production rose at the quickest pace since Aug-18, supported by the pickup in overall new work.
On a positive note, new export orders also increased following a fall in February.
Optimism also improved, with optimism towards the year ahead rising to a 10-month high.
The Aussie Dollar moved from $0.7122 to $0.71215 upon release of the figures that reflected a first improvement in the sector in 4-months. At the time of writing, the Aussie Dollar was up 0.35% to $0.7121.
For Kiwi Dollar,
There were no material stats released through the session to provide the Kiwi Dollar with direction. Economic data out of China over the weekend and this morning together with optimism over trade talks provided support early on. It could be a choppy week, however, with a mass of data scheduled for release that could materially impact risk sentiment.
At the time of writing, the Kiwi Dollar stood at $0.6827, up 0.34% for the session.
The Day Ahead:
For the EUR
Finalized March manufacturing PMI figures out of France, Germany and the Eurozone, coupled with PMI numbers out of Italy and Spain will provide direction for the EUR.
Later on in the morning, prelim Eurozone March inflation figures will also be in focus, though barring any material pickup, the numbers will likely have a muted impact on the EUR.
Outside of the stats, positive economic data out of China provided support for risk appetite and the EUR early on.
At the time of writing, the EUR was up 0.07% at $1.1226.
For the Pound
Economic data due out of the UK is limited to March manufacturing PMI figures. While PMI will provide the Pound with direction upon release, the focus will remain on Parliament and Brexit.
Following last week’s failure to decide a path out of the EU, the markets will be looking for a plan to prevent a no-deal departure. Theresa May could look for a 4th vote, while we are also expecting the popular alternatives of last week’s Wednesday session to also be voted on.
As a reminder,
Based on the result on Wednesday, there will likely be 3 alternatives for MPs to vote on this week:
Second Referendum: Received the largest number of votes on Wednesday, totaling 268.
Remain within the customs union: Saw the narrowest margin of defeat. (272 against/264 for).
Labour Party Alternative: Received the 3rd largest support (307 against/237 for).
At the time of writing, the Pound was down 0.10% to $1.3022.
Across the Pond
February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar.
While sentiment towards the economic outlook and monetary policy has deteriorated, a heavy set of stats through the week could shift sentiment once more.
Positive retail sales figures would certainly ease concerns over a near-term slowdown and support the Dollar and Treasury Yields.
The manufacturing PMI numbers will need to hold up, however, for the U.S Treasury yield curve to avoid another inversion.
Outside of the data, progress on the U.S – China will provide support for riskier assets at the start of the week.
At the time of writing, the Dollar Spot Index was down 0.04% to 97.243.
For the Loonie
There are no material stats scheduled for release to provide direction for the Loonie. A return to expansion in China’s manufacturing sector provided support for crude oil prices early on, which is Loonie positive.
Outside of the numbers, BoC Governor Poloz will be speaking later in the day. Any dovish chatter and expect a pullback in the Loonie late on.
The Loonie was down 0.02% at C$1.3352, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to the latest AIG report, the decline was attributed to a slowing in the economy and to customers delaying orders ahead of the Federal Election. Later on in the morning, prelim Eurozone March inflation figures will also be in focus, though barring any material pickup, the numbers will likely have a muted impact on the EUR. A return to expansion in China’s manufacturing sector provided support for crude oil prices early on, which is Loonie positive. | Key stats that influenced included: Australia AIG Manufacturing Index (Mar) All Big Industry CAPEX (Q1) (Japan) Big Manufacturing Outlook Index (Q1) (Japan) Large Manufacturers Index (Q1) (Japan) Large Non-Manufacturers Index (Q1) (Japan) Australia NAB Business Confidence (Mar) China Caixin Manufacturing PMI (Mar) Ahead of the Asian session, private sector PMI figures released out of China on Sunday provided support to risk appetite. Outside of the stats, positive economic data out of China provided support for risk appetite and the EUR early on. Across the Pond February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar. | Key stats that influenced included: Australia AIG Manufacturing Index (Mar) All Big Industry CAPEX (Q1) (Japan) Big Manufacturing Outlook Index (Q1) (Japan) Large Manufacturers Index (Q1) (Japan) Large Non-Manufacturers Index (Q1) (Japan) Australia NAB Business Confidence (Mar) China Caixin Manufacturing PMI (Mar) Ahead of the Asian session, private sector PMI figures released out of China on Sunday provided support to risk appetite. The Day Ahead: For the EUR Finalized March manufacturing PMI figures out of France, Germany and the Eurozone, coupled with PMI numbers out of Italy and Spain will provide direction for the EUR. Across the Pond February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar. | For the Aussie Dollar, The AIG Manufacturing Index fell from a revised 54.0 to 52.0 in March, which was in line with forecasts. Outside of the stats, positive economic data out of China provided support for risk appetite and the EUR early on. Across the Pond February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar. | f55a4529-16bb-4f2d-87eb-08a5399d18ee |
709265.0 | 2019-03-31 00:00:00 UTC | The Pound Struggles Over Brexit, While Risk Appetite Drives the Pack | DBO | https://www.nasdaq.com/articles/pound-struggles-over-brexit-while-risk-appetite-drives-pack-2019-03-31 | nan | nan | Earlier in the Day:
The week kicked off with a bang. A deluge of economic data out of Asia got the majors into action early in the day. Key stats that influenced included:
Australia AIG Manufacturing Index (Mar)
All Big Industry CAPEX (Q1) (Japan)
Big Manufacturing Outlook Index (Q1) (Japan)
Large Manufacturers Index (Q1) (Japan)
Large Non-Manufacturers Index (Q1) (Japan)
Australia NAB Business Confidence (Mar)
China Caixin Manufacturing PMI (Mar)
Ahead of the Asian session, private sector PMI figures released out of China on Sunday provided support to risk appetite.
According to the NBS survey, the manufacturing sector saw growth once more. The PMI rose from 49.2 to 50.5. The service sector saw growth accelerate, with the PMI rising from 54.3 to 54.8. Both sets of figures were better than forecasted.
For the Japanese Yen,
1 st quarter Tankan survey provided further guidance on how the business sentiment stood at the turn of the year. According to the Tankan Survey figures released by the Bank of Japan :
All Big Industry CAPEX (Q1) rose by 1.2%. While coming in ahead of a forecasted 0.4% decline, the increase in CAPEX was well below the 4 th quarter's 14.3% increase.
Big Manufacturing Outlook Index (Q1) fell from 15 to 8. Forecasts were for a decline to 12.
Large Manufacturers Index (Q1) fell from 19 to 12. Forecasts were for a fall to 13.
Large Non-Manufacturers Index (Q1) fell from 24 to 21, which was worse than a forecasted 22.
The Japanese Yen moved from ¥110.938 to ¥110.992 upon release of the figures. The deterioration in sentiment comes as the global economic outlook deteriorates amidst the ongoing U.S - China trade war. At the time of writing, the Japanese Yen was down by 0.26% to ¥111.15 against the U.S Dollar at the time of writing.
For the Aussie Dollar,
The AIG Manufacturing Index fell from a revised 54.0 to 52.0 in March, which was in line with forecasts. According to the latest AIG report, the decline was attributed to a slowing in the economy and to customers delaying orders ahead of the Federal Election.
The new orders sub-index fell by 2 points to 50.0, with the exports sub-index sliding by 4.5 points to 50.7.
The Aussie Dollar moved from $0.71102 to $0.71109 upon release of the figures, which preceded the business confidence numbers.
The NAB Business Confidence Index fell from 2 to 0 in March, which was worse than a forecasted rise to 4. According to the NAB Monthly Business Survey , in spite of confidence being on the decline, the business conditions index increased from 4 to 7 in March.
The Aussie Dollar moved from $0.71232 to $0.71220 upon release of the figures, which preceded China's Caixin Manufacturing PMI.
Out of China,
The CAIXIN Manufacturing PMI rose from 49.9 to 50.8 in March. Coming in ahead of a forecasted 50.1, the PMI hit its highest level since Jul-18. According to the latest Markit survey :
Employment increased for the first time in 5-years, supported by a quicker rise in both output and overall new work.
Production rose at the quickest pace since Aug-18, supported by the pickup in overall new work.
On a positive note, new export orders also increased following a fall in February.
Optimism also improved, with optimism towards the year ahead rising to a 10-month high.
The Aussie Dollar moved from $0.7122 to $0.71215 upon release of the figures that reflected a first improvement in the sector in 4-months. At the time of writing, the Aussie Dollar was up 0.35% to $0.7121.
For Kiwi Dollar,
There were no material stats released through the session to provide the Kiwi Dollar with direction. Economic data out of China over the weekend and this morning together with optimism over trade talks provided support early on. It could be a choppy week, however, with a mass of data scheduled for release that could materially impact risk sentiment.
At the time of writing, the Kiwi Dollar stood at $0.6827, up 0.34% for the session.
The Day Ahead:
For the EUR
Finalized March manufacturing PMI figures out of France, Germany and the Eurozone, coupled with PMI numbers out of Italy and Spain will provide direction for the EUR.
Later on in the morning, prelim Eurozone March inflation figures will also be in focus, though barring any material pickup, the numbers will likely have a muted impact on the EUR.
Outside of the stats, positive economic data out of China provided support for risk appetite and the EUR early on.
At the time of writing, the EUR was up 0.07% at $1.1226.
For the Pound
Economic data due out of the UK is limited to March manufacturing PMI figures. While PMI will provide the Pound with direction upon release, the focus will remain on Parliament and Brexit.
Following last week's failure to decide a path out of the EU, the markets will be looking for a plan to prevent a no-deal departure. Theresa May could look for a 4 th vote, while we are also expecting the popular alternatives of last week's Wednesday session to also be voted on.
As a reminder,
Based on the result on Wednesday, there will likely be 3 alternatives for MPs to vote on this week:
Second Referendum: Received the largest number of votes on Wednesday, totaling 268.
Remain within the customs union: Saw the narrowest margin of defeat. (272 against/264 for).
Labour Party Alternative: Received the 3 rd largest support (307 against/237 for).
At the time of writing, the Pound was down 0.10% to $1.3022.
Across the Pond
February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar.
While sentiment towards the economic outlook and monetary policy has deteriorated, a heavy set of stats through the week could shift sentiment once more.
Positive retail sales figures would certainly ease concerns over a near-term slowdown and support the Dollar and Treasury Yields.
The manufacturing PMI numbers will need to hold up, however, for the U.S Treasury yield curve to avoid another inversion.
Outside of the data, progress on the U.S - China will provide support for riskier assets at the start of the week.
At the time of writing, the Dollar Spot Index was down 0.04% to 97.243.
For the Loonie
There are no material stats scheduled for release to provide direction for the Loonie. A return to expansion in China's manufacturing sector provided support for crude oil prices early on, which is Loonie positive.
Outside of the numbers, BoC Governor Poloz will be speaking later in the day. Any dovish chatter and expect a pullback in the Loonie late on.
The Loonie was down 0.02% at C$1.3352, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to the latest AIG report, the decline was attributed to a slowing in the economy and to customers delaying orders ahead of the Federal Election. Later on in the morning, prelim Eurozone March inflation figures will also be in focus, though barring any material pickup, the numbers will likely have a muted impact on the EUR. This article was originally posted on FX Empire More From FXEMPIRE: Precious Metals Bleed On Healthy Risk On Investor Sentiment European Equities: Economic Data out of China Spurs the Bulls into Action The Pound Struggles Over Brexit, While Risk Appetite Drives the Pack The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats that influenced included: Australia AIG Manufacturing Index (Mar) All Big Industry CAPEX (Q1) (Japan) Big Manufacturing Outlook Index (Q1) (Japan) Large Manufacturers Index (Q1) (Japan) Large Non-Manufacturers Index (Q1) (Japan) Australia NAB Business Confidence (Mar) China Caixin Manufacturing PMI (Mar) Ahead of the Asian session, private sector PMI figures released out of China on Sunday provided support to risk appetite. Outside of the stats, positive economic data out of China provided support for risk appetite and the EUR early on. Across the Pond February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar. | Key stats that influenced included: Australia AIG Manufacturing Index (Mar) All Big Industry CAPEX (Q1) (Japan) Big Manufacturing Outlook Index (Q1) (Japan) Large Manufacturers Index (Q1) (Japan) Large Non-Manufacturers Index (Q1) (Japan) Australia NAB Business Confidence (Mar) China Caixin Manufacturing PMI (Mar) Ahead of the Asian session, private sector PMI figures released out of China on Sunday provided support to risk appetite. The Day Ahead: For the EUR Finalized March manufacturing PMI figures out of France, Germany and the Eurozone, coupled with PMI numbers out of Italy and Spain will provide direction for the EUR. Across the Pond February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar. | For the Aussie Dollar, The AIG Manufacturing Index fell from a revised 54.0 to 52.0 in March, which was in line with forecasts. Outside of the stats, positive economic data out of China provided support for risk appetite and the EUR early on. Across the Pond February retail sales figures and March ISM Manufacturing PMI numbers will provide direction to the U.S Dollar. | d3d3d5ca-7e15-4d0b-9917-239ff4366654 |
709266.0 | 2019-03-29 00:00:00 UTC | Stats, Brexit and Trade Talks Put the EUR, GBP and USD in Focus | DBO | https://www.nasdaq.com/articles/stats-brexit-and-trade-talks-put-eur-gbp-and-usd-focus-2019-03-29 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a busier Asian session than usual this morning. Key stats released through the session included:
NZ Building Consents (MoM) (Feb)
Japan Jobs/applications ratio (Feb)
Tokyo Core CPI (YoY) (Mar)
Japan Industrial Production (MoM) (Feb) Prelim
Japan Retail Sales (YoY) (Feb)
Australia Private Sector Credit (MoM) (Feb)
Outside of the numbers, RBNZ Governor Orr spoke ahead of the morning’s stats.
For Kiwi Dollar,
Ahead of the Asian open, RBNZ Governor Orr reiterated the RBNZ’s bias towards a rate cut, which weighed on the Kiwi Dollar early.
The Kiwi Dollar moved from $0.67845 to $0.67754 during the speech that preceded the building consent figures.
Building consents rose by 1.9% in February, month-on-month. The increase came off the back of a revised 13.6% jump in January. According to NZStats:
In the year ended February 2019, new dwellings consented increased by 9.7% from Feb-2018.
The Kiwi Dollar moved from $0.67756 to $0.67758 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6784, up 0.01% for the session.
For the Japanese Yen,
Job applications and March inflation figures were first up. The focus was on the inflation figures in the early part of the morning.
According to figures released by statistics Japan, the annual rate of core inflation held steady at 1.1% for Tokyo. In line with forecasts, inflation continued to fall well short of the BoJ’s target.
Prices for fuel, light and water increased by 7.6% year-on-year.
There were also notable increases in prices for furniture and household utensils (+2.4%) and medical care (+1.3%).
Weighing on inflation were prices for housing (+0.5%), clothes and footwear (0.6%) and transportation and communication (-0.6%).
Month-on-month, core consumer prices for the Ku-area fell by 0.1%.
Separately, the job/applications ratio held steady at 1.63, which was in line with forecasts.
The Japanese Yen moved from ¥110.637 to ¥110.634 upon release of the figures that preceded the industrial production and retail sales figures.
Industrial production increased by 1.4% in February, according to prelim figures, which was in line with forecasts.
According to figures released by the Ministry of Economy, Trade and Industry,
Industries that contributed to the increase included:
Motor vehicles; Production machinery; and Electrical machinery and information and communication electronics equipment.
Industries that dragged on the headline number included:
Transport equipment (excl. motor vehicles); Inorganic and organic chemicals; and Electronic parts and devices.
Retail sales increased by 0.4%, year-on-year, in February, falling short of a forecasted 0.9% rise. Sales in January rose by 0.6%. According to figures released by the Ministry of Economy, Trade and Industry, sales fell by 2.3% month-on-month.
The Japanese Yen moved from ¥110.65 to ¥110.651 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.14% to ¥110.79 against the U.S Dollar at the time of writing.
For the Aussie Dollar,
Private sector credit rose by 0.3% in February, following a 0.2% increase in January. Forecasts were for a 0.2% rise. According to figures released by RBA,
Housing credit rose by 0.3%, month-on-month, picking up from a 0.2% increase in January.
Personal credit fell by 0.1%, following on from a 0.7% slide in January.
Business credit rose by 0.3%, which was at the same rate as in January.
Year-on-year total credit rose by 4.2%, easing back from a 4.9% rise in January.
Housing credit rose by 4.2%, down from a 6.2% rise in February 2018.
Personal credit slid by 2.7%, following a 1.1% fall in February 2018.
Business credit rose by 5.3%, picking up from a 3.4% rise in February 2018.
The Aussie Dollar moved from $0.70868 to $0.70862 upon release of the figures. At the time of writing, the Aussie Dollar was up 0.18% to $0.7087.
The Day Ahead:
For the EUR
It’s a busy day ahead for the EUR. Key stats out of the Eurozone include German retail sales and unemployment figures, French consumer spending and inflation numbers and 4th quarter GDP figures out of Spain.
Later in the morning inflation figures out of Italy and the Eurozone will also provide direction for the EUR.
Following a string of disappointing stats and a dovish ECB, we can expect the EUR to be sensitive to the numbers.
Outside of the numbers, updates from the continuation of trade talks between the U.S and China and Brexit will also influence.
At the time of writing, the EUR was up 0.09% at $1.1254.
For the Pound
Economic data out of the UK include 4th quarter GDP and business investment figures. Barring a material deviation from a forecasted 1.3%, we would expect the figures to have a muted impact on the Pound.
The main event of the day will be the UK Parliamentary vote on Theresa May’s Brexit deal. Well, part of the deal. Excluded from the original deal will be a vote on the UK’s future relationship with the EU.
MPs will be voting on citizens rights, the Irish backstop, and the divorce bill. On Thursday the DUPs had yet to show their support for the Irish backstop, suggesting that Theresa May would struggle to turn the 75 needed votes.
At the time of writing, the Pound was up 0.20% to $1.3070. While another vote against the British PM would weigh, hopes would then shift to next week’s votes on the alternatives.
Across the Pond
It’s another busy day ahead on the economic calendar. On the data front, the U.S session kicks off with the FED’s preferred inflation figures and personal spending numbers. With the markets now expecting the FED to cut rates later in the year, the Core PCE Price Index will need to be up by more than 2% to influence. Forecasts are for the annual rate of core inflation to hold steady at 1.9%.
An unexpected fall in personal spending could add pressure on riskier assets. Forecasts are for personal spending to rise by 0.3%, reversing a 0.5% fall in December.
Later on in the session, the Chicago PMI and consumer sentiment figures are also scheduled for release ahead of new home sales figures.
Outside of the data, FOMC members Williams, Kaplan, and Quarles are scheduled to speak. Any talk of a sooner rather than a later need for a rate cut would influence.
With the final day of U.S – China trade negotiations also there to consider, it’s a particularly busy day ahead.
At the time of writing, the Dollar Spot Index was down 0.01% to 97.196.
For the Loonie
January GDP and February’s RMPI numbers are due out later today. We can expect the Loonie to be more responsive to the GDP numbers that are forecasted to be Loonie positive.
Any upside may be short-lived, however, with market risk sentiment and crude oil prices to be the key driver on the day.
The Loonie was up 0.07% at C$1.3428, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On Thursday the DUPs had yet to show their support for the Irish backstop, suggesting that Theresa May would struggle to turn the 75 needed votes. With the markets now expecting the FED to cut rates later in the year, the Core PCE Price Index will need to be up by more than 2% to influence. Any upside may be short-lived, however, with market risk sentiment and crude oil prices to be the key driver on the day. | Key stats released through the session included: NZ Building Consents (MoM) (Feb) Japan Jobs/applications ratio (Feb) Tokyo Core CPI (YoY) (Mar) Japan Industrial Production (MoM) (Feb) Prelim Japan Retail Sales (YoY) (Feb) Australia Private Sector Credit (MoM) (Feb) Outside of the numbers, RBNZ Governor Orr spoke ahead of the morning’s stats. According to figures released by the Ministry of Economy, Trade and Industry, Industries that contributed to the increase included: Motor vehicles; Production machinery; and Electrical machinery and information and communication electronics equipment. Key stats out of the Eurozone include German retail sales and unemployment figures, French consumer spending and inflation numbers and 4th quarter GDP figures out of Spain. | Key stats released through the session included: NZ Building Consents (MoM) (Feb) Japan Jobs/applications ratio (Feb) Tokyo Core CPI (YoY) (Mar) Japan Industrial Production (MoM) (Feb) Prelim Japan Retail Sales (YoY) (Feb) Australia Private Sector Credit (MoM) (Feb) Outside of the numbers, RBNZ Governor Orr spoke ahead of the morning’s stats. The Japanese Yen moved from ¥110.637 to ¥110.634 upon release of the figures that preceded the industrial production and retail sales figures. Key stats out of the Eurozone include German retail sales and unemployment figures, French consumer spending and inflation numbers and 4th quarter GDP figures out of Spain. | Business credit rose by 0.3%, which was at the same rate as in January. Key stats out of the Eurozone include German retail sales and unemployment figures, French consumer spending and inflation numbers and 4th quarter GDP figures out of Spain. With the markets now expecting the FED to cut rates later in the year, the Core PCE Price Index will need to be up by more than 2% to influence. | fcc5cd3f-b68e-45c0-b5cc-2aa2a51a42d2 |
709267.0 | 2019-03-28 00:00:00 UTC | Trade Talks, U.S GDP numbers and Brexit to Drive the USD and the GBP | DBO | https://www.nasdaq.com/articles/trade-talks-us-gdp-numbers-and-brexit-drive-usd-and-gbp-2019-03-28 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a relatively quiet morning on the economic calendar. March business confidence figures out of New Zealand was the only major data item of the session.
Outside of the numbers, the UK Parliament failed to deliver a direction on Brexit, pinning back the Pound. Concerns over economic growth returned through the U.S session and filtered into the Asian session. Treasuries yields tumbled overnight and the yield curve inverted once more, sparking more fears of an impending recession.
For Kiwi Dollar,
Following Wednesday’s RBNZ driven tumble, the ANZ Business Confidence Index fell from -30.9% to -38%. Forecasts had been for a pickup to -24.3%.
The figures reflect that a net 38% of respondents expect economic conditions to deteriorate in the year ahead. According to the figures released by ANZ:
Firms’ expectations for their own activity eased 5 points to a net 6% expecting an improvement.
Across the sectors, the retail sector was the least optimistic, while services were the most optimistic.
Employment intentions fell by 2 points to +1%.
Profit expectations fell 3 points to a net 14% expecting profits to decline.
A net 40% expect it to be tougher to get credit, falling by 2 points.
Export intentions fell to below levels seen during both the Asian and global financial crisis.
The Kiwi Dollar moved from $0.67968 to $0.67842 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6818, up 0.31% for the session.
Elsewhere,
At the time of writing, the Aussie Dollar was up 0.18% to $0.7097. While economic growth concerns pinned back the Aussie Dollar, hopes of a resolution to the trade war provided support.
Risk sentiment provided support for the Japanese Yen, however, which was up by 0.31% to ¥110.17 against the U.S Dollar at the time of writing.
The Day Ahead:
For the EUR
It’s another quiet day on the economic calendar. Prelim March inflation figures out of Spain are due out and will likely have little influence on the EUR. Of greater influence will be the Eurozone’s business confidence numbers due out later in the day. A forecasted fall in confidence would pressure the EUR.
Outside of the numbers, a resumption of trade talks between the U.S and China will likely garner plenty of interest. Progress would be supportive of the EUR through the day, though the upside could be capped by the negative sentiment toward economic growth prospects.
At the time of writing, the EUR was up 0.09% at $1.1254.
For the Pound
Economic data out of the UK is limited to house price figures that will have a muted impact on the Pound.
Following a lack of progress in Parliament on Wednesday, the Pound remained under pressure in the early hours. Theresa May offered the much talked about resignation in exchange for support for her deal.
While the focus will shift to a shorter number of Brexit connotations next week, a vote could come sooner should the British PM manage to align all the ducks.
At the time of writing, the Pound was up 0.04% to $1.3194.
Across the Pond
It’s a busy day ahead on the economic calendar. On the data front, key stats due out of the U.S include 4th quarter GDP numbers, the weekly jobless claims figures and pending home sales data.
Following a downward revision to December retail sales figures that were released on 11th March, 2nd estimate GDP number is forecasted to come in at 2.4%. Anything weaker and risk sentiment will deteriorate more significantly.
While we would expect the weekly jobless claims figures to have some impact, pending home sales figures will likely be ignored.
Outside of the numbers, FOMC members Quarles, Clarida, Bowman, and Williams are scheduled to speak.
Expectations are for the FED to cut rates by September. Today’s speeches could give some more clarity on what lies ahead on the policy front.
On the positive for risk sentiment could be progress on trade talks between the U.S and China. Talks resumed in Beijing this morning and progress will need to be made to ease concerns over the economic outlook.
At the time of writing, the Dollar Spot Index was up 0.10% to 96.833.
For the Loonie
Following disappointing trade data released on Wednesday, it’s a quiet day ahead. With no material stats scheduled for release, the Loonie will be in the hands of risk sentiment through the day.
Crude oil prices could get a boost should progress be made on the U.S – China trade talks that resumed this morning.
The Loonie was up 0.03% at C$1.3405, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While economic growth concerns pinned back the Aussie Dollar, hopes of a resolution to the trade war provided support. While the focus will shift to a shorter number of Brexit connotations next week, a vote could come sooner should the British PM manage to align all the ducks. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets rally to kick off week US Stock Market Overview – Stocks are Mixed, Apples Surges, Boeing Tanks European Equities: The Futures are Pointing to another Day in the Red The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the data front, key stats due out of the U.S include 4th quarter GDP numbers, the weekly jobless claims figures and pending home sales data. While we would expect the weekly jobless claims figures to have some impact, pending home sales figures will likely be ignored. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets rally to kick off week US Stock Market Overview – Stocks are Mixed, Apples Surges, Boeing Tanks European Equities: The Futures are Pointing to another Day in the Red The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to the figures released by ANZ: Firms’ expectations for their own activity eased 5 points to a net 6% expecting an improvement. The Day Ahead: For the EUR It’s another quiet day on the economic calendar. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural gas markets rally to kick off week US Stock Market Overview – Stocks are Mixed, Apples Surges, Boeing Tanks European Equities: The Futures are Pointing to another Day in the Red The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Risk sentiment provided support for the Japanese Yen, however, which was up by 0.31% to ¥110.17 against the U.S Dollar at the time of writing. A forecasted fall in confidence would pressure the EUR. With no material stats scheduled for release, the Loonie will be in the hands of risk sentiment through the day. | 4d53cd18-7167-46d8-ad49-32751ed55f23 |
709268.0 | 2019-03-26 00:00:00 UTC | The RBNZ Sinks the Kiwi Dollar, with Focus back to Brexit and the Pound | DBO | https://www.nasdaq.com/articles/rbnz-sinks-kiwi-dollar-focus-back-brexit-and-pound-2019-03-26 | nan | nan | FXEmpire.com -
Earlier in the Day:
It was a quiet day on the economic data front, left central banks to drive the markets through the early part of the day.
First up was RBA Assistant Governor Kent, who delivered opening remarks at FX Week Australia. The main event of the Asian session, however, was the RBNZ interest rate decision and Rate Statement, which certainly had an impact.
For the Aussie Dollar,
A scheduled speech by RBA Assistance Governor Kent in the early hours had a muted impact on the Aussie Dollar. There was nothing related to monetary policy in the opening remarks to have an influence on market sentiment towards RBA monetary policy.
The Aussie Dollar moved from $0.71372 to $0.7381 during the opening remarks. At the time of writing, the Aussie Dollar was down 0.43% to $0.7104, a dovish RBNZ contributing to the slide.
For Kiwi Dollar,
The RBNZ held rates unchanged at 1.75% this morning, which was in line with market expectations. Following a hawkish February statement, the tone was somewhat different this morning, however. The RBNZ rate statement steered to the more dovish side and included the following salient points:
Given the weaker global economic outlook and reduced momentum in domestic spending, the more likely direction of the next OCR move is down.
Core consumer inflation remains below the 2% target, necessitating continued supportive monetary policy.
The global economic outlook has continued to weaken, particularly with some of the key trading partners.
As a result of central banks easing their expected monetary policy stances, upward pressure has been placed on the Kiwi Dollar.
Domestic growth slowed in 2018.
Low-interest rates and increased government spending and investment is expected to support growth over 2019.
Low-interest rates and continued employment growth should support household spending and business investment.
Risk of a more pronounced global downturn has increased and low business sentiment continues to weigh on domestic spending.
The RBNZ will keep the OCR at an expansionary level for a considerable period.
The Kiwi Dollar slid from $0.69107 to $0.68062 upon release of the statement. At the time of writing, the Kiwi Dollar stood at $0.6798, down 1.53% for the session.
Elsewhere,
At the time of writing, the Japanese Yen was up by 0.08% to ¥110.55 against the U.S Dollar. Mixed sentiment through the early part of the day provided the Yen with support. A particularly dovish RBNZ will have contributed to a pullback in risk appetite in the early hours.
The Day Ahead:
For the EUR
It’s a quiet day on the economic calendar. With no material stats scheduled for release, ECB President Draghi could rain on the bulls’ parade. Central bank commentary has certainly shifted and, with the RBNZ joining the party, Draghi could deliver a EUR slide.
Outside of the numbers, risk sentiment through the day will influence, any risk aversion expected to pin back the EUR.
At the time of writing, the EUR was down 0.07% at $1.1258.
For the Pound
There are no material stats scheduled for release through the day. The focus will remain on Brexit as the markets look for a resolution to the Brexit standoff in Parliament.
It’s all about the alternatives later today and, when considering the need for cross-party support, this could go on for days. It’s been reported that MPs will be completing a number of ballots that address different versions of the Brexit deal.
Expect chaos during the Parliamentary session and with it, a choppy session for the Pound. Lack of direction and pandemonium could lead to support for Theresa May’s deal, but and there is always a but… Theresa May will likely have to resign in order to get the deal over the line.
Parliament could vote in favor of revoking Article 50 or even be in favor of a 2nd referendum.
At the time of writing, the Pound was down by 0.23% to $1.3182.
Across the Pond
It’s a relatively quiet day ahead for the Greenback. 4th quarter current account and January trade data are due out of this U.S this afternoon.
The timing of the trade data couldn’t be better as the U.S administration prepares to resume trade talks with China tomorrow. There’s certainly a greater incentive for China to find an agreement, now that the U.S President looks set to take on the Democrats in the 2020 election. There’s also an incentive for the U.S president to find common ground with China. A recession going into the 2020 campaign would almost certainly end any chance of re-election.
With the markets likely to be focused on tomorrow and Friday’s trade talks, expect some chatter from the Oval Office.
At the time of writing, the Dollar Spot Index was up 0.10% to 96.833.
For the Loonie
January trade data due out later today will provide the Loonie with some direction. While forecasts are Loonie positive, however, risk sentiment will likely have a greater influence through the day.
The Loonie was down 0.10% at C$1.3395, against the U.S Dollar, at the time of writing. A pickup in crude oil prices failed to provide support early on, with risk sentiment through the Asian session driving demand for the Greenback.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The RBNZ rate statement steered to the more dovish side and included the following salient points: Given the weaker global economic outlook and reduced momentum in domestic spending, the more likely direction of the next OCR move is down. A pickup in crude oil prices failed to provide support early on, with risk sentiment through the Asian session driving demand for the Greenback. This article was originally posted on FX Empire More From FXEMPIRE: U.S. Investors Reassured by Rebound in Jobs Creation Asian Shares Mixed on Muted Reaction to U.S. Non-Farm Payrolls Report A busy Week Ahead for Financial Markets: Oil Spikes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | First up was RBA Assistant Governor Kent, who delivered opening remarks at FX Week Australia. For the Aussie Dollar, A scheduled speech by RBA Assistance Governor Kent in the early hours had a muted impact on the Aussie Dollar. There was nothing related to monetary policy in the opening remarks to have an influence on market sentiment towards RBA monetary policy. | FXEmpire.com - Earlier in the Day: It was a quiet day on the economic data front, left central banks to drive the markets through the early part of the day. For the Aussie Dollar, A scheduled speech by RBA Assistance Governor Kent in the early hours had a muted impact on the Aussie Dollar. At the time of writing, the Aussie Dollar was down 0.43% to $0.7104, a dovish RBNZ contributing to the slide. | At the time of writing, the Aussie Dollar was down 0.43% to $0.7104, a dovish RBNZ contributing to the slide. The RBNZ rate statement steered to the more dovish side and included the following salient points: Given the weaker global economic outlook and reduced momentum in domestic spending, the more likely direction of the next OCR move is down. While forecasts are Loonie positive, however, risk sentiment will likely have a greater influence through the day. | 8aa53c9e-6e63-4029-b96e-5897b82b9dfa |
709269.0 | 2019-03-26 00:00:00 UTC | Forex Daily Recap – Risk Appetite Stabilising The Market | DBO | https://www.nasdaq.com/articles/forex-daily-recap-risk-appetite-stabilising-market-2019-03-26 | nan | nan | FXEmpire.com -
USD/JPY
Today, the USD/JPY pair skyrocketed breaking all the in-between resistance levels. After the heavy plunge of Friday, the pair had tried to rally upwards on Monday but failed to break the major resistance levels. The pair sustained range bound movement between 109.73 and 110.23 levels.
The USD/JPY pair began the day at 110.09 level. After that, it made a slight upward drift following the rebound of 10-year US T-bond yield. The pair again slipped lower to a new support level of 110.01. From that reversal point, the pair soared continuously moving up more than 0.58 percent.
During the morning session, the Bank of Japan (BoJ) reported its Summary of Opinions which mentioned that the bank would stay flexible on varying economic changes.
USD Index
The USD Index that computes the greenback against the six major currencies weighed more against its peers today. After consolidating in the early hours, the index changed gears at 04:00 GMT and took a steep upward jump reaching 96.092 level. After a small correction, the index uplifted further on lower 10-year Treasury Bond Yields. The escalation continued despite poor February Housing Starts and Building Permits reports released today. Both numbers were below the consensus estimate.
“There is a reluctance to buy dollars, while the bar for selling dollars has been relatively high because people have been burned before,” said Steven Englander, global head of G10 FX research at Standard Chartered Bank in New York.
EUR/USD
The EUR/USD tumbled reaching far below 1.1300 level. The greenback climbed new highs recovering previous losses. The USD Index had touched 96.7500 level during the day. The pair was unsuccessful in breaking the 200-week Simple Moving Average (SMA). The fall worsened later the day reaching weekly low under the vicinity of 1.1280.
EURUSD 5 Min 26 March 2019
The Brexit changed controls over to the Parliamentarians. Euro Investors are highly worried over concerns on a deal Brexit as Eurozone Elections are nearing.
USD/CAD
The Loonie pair seems to end the day at low levels. The pair had risen in the mid-day session after the rebounding of the US 10-year treasury bonds yields. Poor US housing data and other indexes released today, pushed the loonie pair down later the day.
With the OPEC cut in production and rising oil demands, the price of crude oil reached new highs. This elevation in the crude price helped the Canadian Dollar to uplift which lowered the pair further. The USD/CAD pair touched the day’s low of 1.3371 twice during the day.
USD/TRY
The pair remained under consolidation mode for quite some time before beginning with the downtrend. The USD/TRY pair showed violent movements ranging between 5.50/5.60 levels during the day. At 14:20 GMT, the pair started slumping heavily from 5.5616 level reaching 5.3829 level. Investors look for the Sunday Municipal elections.
USDTRY 5 Min 26 March 2019
The Simple Moving Average (SMA) for the major days lie above the last traded level of the pair. This symbolizes a bearish stance for the pair. The pair traded staying within the range of the Bollinger Band without breaking the boundaries. Mid-day contraction was followed by a later expansion. The bearish pressure increased multifold with the economic sluggishness amid US poor data revealing reports released during the day. A selling has taken place which brought the pair down to lower levels as the day approaches to end.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | USDTRY 5 Min 26 March 2019 The Simple Moving Average (SMA) for the major days lie above the last traded level of the pair. The bearish pressure increased multifold with the economic sluggishness amid US poor data revealing reports released during the day. This article was originally posted on FX Empire More From FXEMPIRE: Monero Technical Analysis – Resistance Levels in Play – 08/04/19 EUR/USD Daily Price Forecast – The Pair Contains Some Bearish Signals Amid Unstable Global Conditions AUD/USD Forex Technical Analysis – April 8, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Poor US housing data and other indexes released today, pushed the loonie pair down later the day. USDTRY 5 Min 26 March 2019 The Simple Moving Average (SMA) for the major days lie above the last traded level of the pair. This article was originally posted on FX Empire More From FXEMPIRE: Monero Technical Analysis – Resistance Levels in Play – 08/04/19 EUR/USD Daily Price Forecast – The Pair Contains Some Bearish Signals Amid Unstable Global Conditions AUD/USD Forex Technical Analysis – April 8, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At 14:20 GMT, the pair started slumping heavily from 5.5616 level reaching 5.3829 level. USDTRY 5 Min 26 March 2019 The Simple Moving Average (SMA) for the major days lie above the last traded level of the pair. This article was originally posted on FX Empire More From FXEMPIRE: Monero Technical Analysis – Resistance Levels in Play – 08/04/19 EUR/USD Daily Price Forecast – The Pair Contains Some Bearish Signals Amid Unstable Global Conditions AUD/USD Forex Technical Analysis – April 8, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | After a small correction, the index uplifted further on lower 10-year Treasury Bond Yields. This elevation in the crude price helped the Canadian Dollar to uplift which lowered the pair further. The bearish pressure increased multifold with the economic sluggishness amid US poor data revealing reports released during the day. | 557fc73d-647d-47ac-896d-201367d3ffad |
709270.0 | 2019-03-26 00:00:00 UTC | Forex Daily Recap – Risk Appetite Stabilising The Market | DBO | https://www.nasdaq.com/articles/forex-daily-recap-risk-appetite-stabilising-market-2019-03-26-0 | nan | nan | USD/JPY
Today, the USD/JPY pair skyrocketed breaking all the in-between resistance levels. After the heavy plunge of Friday, the pair had tried to rally upwards on Monday but failed to break the major resistance levels. The pair sustained range bound movement between 109.73 and 110.23 levels.
The USD/JPY pair began the day at 110.09 level. After that, it made a slight upward drift following the rebound of 10-year US T-bond yield. The pair again slipped lower to a new support level of 110.01. From that reversal point, the pair soared continuously moving up more than 0.58 percent.
During the morning session, the Bank of Japan (BoJ) reported its Summary of Opinions which mentioned that the bank would stay flexible on varying economic changes.
USD Index
The USD Index that computes the greenback against the six major currencies weighed more against its peers today. After consolidating in the early hours, the index changed gears at 04:00 GMT and took a steep upward jump reaching 96.092 level. After a small correction, the index uplifted further on lower 10-year Treasury Bond Yields. The escalation continued despite poor February Housing Starts and Building Permits reports released today. Both numbers were below the consensus estimate.
"There is a reluctance to buy dollars, while the bar for selling dollars has been relatively high because people have been burned before," said Steven Englander, global head of G10 FX research at Standard Chartered Bank in New York.
EUR/USD
The EUR/USD tumbled reaching far below 1.1300 level. The greenback climbed new highs recovering previous losses. The USD Index had touched 96.7500 level during the day. The pair was unsuccessful in breaking the 200-week Simple Moving Average (SMA). The fall worsened later the day reaching weekly low under the vicinity of 1.1280.
The Brexit changed controls over to the Parliamentarians. Euro Investors are highly worried over concerns on a deal Brexit as Eurozone Elections are nearing.
USD/CAD
The Loonie pair seems to end the day at low levels. The pair had risen in the mid-day session after the rebounding of the US 10-year treasury bonds yields. Poor US housing data and other indexes released today, pushed the loonie pair down later the day.
With the OPEC cut in production and rising oil demands, the price of crude oil reached new highs. This elevation in the crude price helped the Canadian Dollar to uplift which lowered the pair further. The USD/CAD pair touched the day's low of 1.3371 twice during the day.
USD/TRY
The pair remained under consolidation mode for quite some time before beginning with the downtrend. The USD/TRY pair showed violent movements ranging between 5.50/5.60 levels during the day. At 14:20 GMT, the pair started slumping heavily from 5.5616 level reaching 5.3829 level. Investors look for the Sunday Municipal elections.
The Simple Moving Average (SMA) for the major days lie above the last traded level of the pair. This symbolizes a bearish stance for the pair. The pair traded staying within the range of the Bollinger Band without breaking the boundaries. Mid-day contraction was followed by a later expansion. The bearish pressure increased multifold with the economic sluggishness amid US poor data revealing reports released during the day. A selling has taken place which brought the pair down to lower levels as the day approaches to end.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | After consolidating in the early hours, the index changed gears at 04:00 GMT and took a steep upward jump reaching 96.092 level. The bearish pressure increased multifold with the economic sluggishness amid US poor data revealing reports released during the day. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast - Australian dollar grinds higher Natural Gas Price Forecast - Natural gas markets do little on Tuesday Forex Daily Recap - Risk Appetite Stabilising The Market The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | After a small correction, the index uplifted further on lower 10-year Treasury Bond Yields. Poor US housing data and other indexes released today, pushed the loonie pair down later the day. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Price Forecast - Australian dollar grinds higher Natural Gas Price Forecast - Natural gas markets do little on Tuesday Forex Daily Recap - Risk Appetite Stabilising The Market The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Loonie pair seems to end the day at low levels. At 14:20 GMT, the pair started slumping heavily from 5.5616 level reaching 5.3829 level. The Simple Moving Average (SMA) for the major days lie above the last traded level of the pair. | After consolidating in the early hours, the index changed gears at 04:00 GMT and took a steep upward jump reaching 96.092 level. After a small correction, the index uplifted further on lower 10-year Treasury Bond Yields. This elevation in the crude price helped the Canadian Dollar to uplift which lowered the pair further. | 4a3d8265-b5f7-468c-a433-1bc362fc523d |
709271.0 | 2019-03-26 00:00:00 UTC | Brexit and Economic Data Put the GBP and USD in Focus | DBO | https://www.nasdaq.com/articles/brexit-and-economic-data-put-gbp-and-usd-focus-2019-03-26 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session was on the lighter side once more. February trade data out of New Zealand provided the Kiwi Dollar with direction in the early hours.
Outside if the data, RBA Assistance Governor Ellis spoke in the early hours.
For the Aussie Dollar,
A scheduled speech by RBA Assistance Governor Ellis in the early hours had limited impact on the Aussie Dollar. There was nothing particularly new covered in the speech, with the focus being on consumption, labor market conditions and household income growth.
The Aussie Dollar moved from $0.71087 to $0.711 levels. At the time of writing, the Aussie Dollar was up 0.10% to $0.7119, support coming from a pickup in risk appetite in the early hours.
For Kiwi Dollar,
The trade balance shifted from an NZ$914m deficit to an NZ$12m surplus in February
According to figures released by NZ Stats,
Overall goods exports rose by NZ$371m (8.3%) to NZ$4.8bn compared with the same month of last year.
Lamb exports reached a record high in February, with lamb exports hitting NZ$391m. The record high was attributed to higher prices.
Overall meat exports reached a record high NZ$839m. The increase was attributed to the record high lamb exports.
The total value of goods imports increased by NZ$547m (13%) to NZ$4.8bn.
The increase was attributed to an NZ$133m (27%) jump in the imports of vehicles, parts, and accessories.
The Kiwi Dollar moved from $0.69109 to $0.69094 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6910, up 0.01% for the session.
Elsewhere,
At the time of writing, the Japanese Yen was down by 0.08% to ¥110.06 against the U.S Dollar. Risk appetite returned through the early hours to pull the Yen into the red.
In the equity markets, the Nikkei was up by 2.16%, with the Hang Seng and ASX200 up by 0.14% and 0.09% respectively. The CSI300 bucked the trend early on, down by 0.59% at the time of writing.
A pickup in government bond yields provided support early on, with the U.S futures also pointing to a positive start to the day.
Looking across at U.S Treasury yields, 10-year yields stood at 2.44%, which was in line with the yield for 3-month Treasuries.
The Day Ahead:
For the EUR,
It’s a busier day ahead on the economic calendar. Germany consumer sentiment figures will provide direction for the EUR early on.
Following on from the consumer sentiment figures, 4th quarter GDP numbers out of France could also provide the EUR with direction. Finalized numbers will need to come in ahead of forecasts, however, to provide any upside to the EUR.
Following the EUR’s reaction to business sentiment figures on Monday, expect consumer sentiment figure to also influence. Outside of the stats, risk sentiment will continue to be a driving force ahead of a scheduled Draghi speech tomorrow.
At the time of writing, the EUR was down 0.02% at $1.1310.
For the Pound,
It’s another quiet day on the economic calendar. Mortgage approvals are due out this morning, which will unlikely have a material influence on the Pound.
The market focus will remain on Brexit chatter through the day. Overnight, Parliament voted in favor of taking control of the Brexit process. The focus will now shift to Wednesday. Expect volatility in the Pound to continue ahead of the Wednesday session, however. There is a possibility of a parliamentary vote on Theresa May’s deal if she can rally the rebels but it may come at a price…
At the time of writing, the Pound was down by 0.08% to $1.3184.
Across the Pond,
It’s a busy day ahead for the Greenback. Economic data due out of the U.S this afternoon includes February housing sector data and March consumer confidence figures.
Housing sector data will provide the Dollar with direction. A continued slide in mortgage rates and strong labor market conditions have supported a pickup in sector activity. In spite of the pickup in applications, the numbers are forecasted to pressure the Dollar. The Dollar’s downside should be limited, however, with weather conditions likely to have weighed on housing starts in February.
The key driver this afternoon will be March consumer confidence figures. Anything in line with, or better than forecast, will be Dollar positive and also positive for Treasury yields.
Consumption remains key to the U.S economy. Upbeat consumer confidence figures will ease some of the market jitters over the U.S economic outlook
At the time of writing, the Dollar Spot Index was down by 0.03% to 96.540.
For the Loonie,
Yet another quiet day ahead leaves the Loonie firmly in the hands for crude oil prices. The weekly API figures due out late in the session will influence alongside market risk appetite through the day.
The Loonie was up 0.08% at C$1.3393, against the U.S Dollar, at the time of writing., with support coming from a pickup in crude oil prices.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Upbeat consumer confidence figures will ease some of the market jitters over the U.S economic outlook At the time of writing, the Dollar Spot Index was down by 0.03% to 96.540. The weekly API figures due out late in the session will influence alongside market risk appetite through the day. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Weekly Price Forecast – Natural gas markets continue to struggle Forex Daily Recap – The Greenback Accumulates More Power Despite US Mixed Job Reports Crypto Bulls Show Their Claws Going into the 2nd Quarter The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, A scheduled speech by RBA Assistance Governor Ellis in the early hours had limited impact on the Aussie Dollar. Economic data due out of the U.S this afternoon includes February housing sector data and March consumer confidence figures. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Weekly Price Forecast – Natural gas markets continue to struggle Forex Daily Recap – The Greenback Accumulates More Power Despite US Mixed Job Reports Crypto Bulls Show Their Claws Going into the 2nd Quarter The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Aussie Dollar was up 0.10% to $0.7119, support coming from a pickup in risk appetite in the early hours. For Kiwi Dollar, The trade balance shifted from an NZ$914m deficit to an NZ$12m surplus in February According to figures released by NZ Stats, Overall goods exports rose by NZ$371m (8.3%) to NZ$4.8bn compared with the same month of last year. Upbeat consumer confidence figures will ease some of the market jitters over the U.S economic outlook At the time of writing, the Dollar Spot Index was down by 0.03% to 96.540. | February trade data out of New Zealand provided the Kiwi Dollar with direction in the early hours. At the time of writing, the Aussie Dollar was up 0.10% to $0.7119, support coming from a pickup in risk appetite in the early hours. At the time of writing, the Kiwi Dollar stood at $0.6910, up 0.01% for the session. | 91f851e1-22c4-4d23-91e9-28b41f94508b |
709272.0 | 2019-03-25 00:00:00 UTC | As Risk Aversion Hits, Focus will be on Theresa May and the Pound | DBO | https://www.nasdaq.com/articles/risk-aversion-hits-focus-will-be-theresa-may-and-pound-2019-03-25 | nan | nan | FXEmpire.com -
Earlier in the Day:
Theeconomic calendarwas bare through the Asian session this morning. Other than a BoJ board member Harada speech, there was very little to shift market sentiment following the European and U.S sell-off on Friday.
While there were no stats, the markets had a window of opportunity to respond to the outcome of the Robert Mueller investigation. The investigation into the U.S administration’s presidential election campaign failed to implicate the U.S President. While positive for risk sentiment, any upside in the futures market was short-lived
For the Major Pairings,
At the time of writing, the Japanese Yen was up by 0.12% to ¥119.79 against the U.S Dollar. Risk aversion provided support through the early part of the day and will likely continue to do so throughout.
In spite of risk aversion, the Kiwi Dollar held on through the early hours. At the time of writing, the Kiwi Dollar was flat at $0.6879. Support continues to come ahead of this week’s RBNZ monetary policy decision. While the RBNZ is expected to leave rates steady, 4th quarter GDP numbers supported the optimistic outlook towards the New Zealand economy.
Things were less rosy for the Aussie Dollar, however, which was down by 0.07% to $0.7078.
In the equity markets, the Nikkei was down by 3.22%, with the Hang Seng and CSI300 down by 1.81% and 1.27% respectively. The ASX200 also saw heavy losses ahead of the close, down by 1.2% at the time of writing.
Bond yields were back on the slide, with both Australian and Japanese government bond yields taking a tumble at the start of the week.
The Day Ahead:
For the EUR
It’s a quiet day ahead on theeconomic calendar Business sentiment figures will provide the EUR with direction in the early part of the day.
Barring particularly impressive numbers, however, we would expect risk sentiment to be the key driver.
At the time of writing, the EUR was down 0.04% at $1.1298.
For the Pound
There are no material stats to provide direction to the Pound. Brexit will be the key driver through the day and throughout the week for that matter…
Uncertainty over what lies ahead weighed on the Pound in the early part of the day. Theresa May is due to convene later this morning with her cabinet and lay out her plans. A timetable that must include her resignation will then decide the fate of the Brexit Deal that had been voted out previously.
At the time of writing, the Pound was down by 0.08% to $1.3198.
Across the Pond
It’s a quiet start to the week, with no material economic data to provide direction to the Dollar. FOMC member chatter and risk sentiment will be the key drivers.
FOMC member Harker is scheduled to speak later today. The question will be whether there will be an attempt to calm the markets over the Treasury yield inversion. It will take more than one FOMC member to ease the pain, however, so more members could hit the news wires through the day.
At the time of writing, the Dollar Spot Index was down by 0.04% to 96.617.
For the Loonie
It’s also a quiet day on theeconomic calendar Crude oil prices and risk appetite will provide the Loonie with direction through the day.
With January’s trade data not due out until Wednesday, it could be a tough first half of the week for the Loonie.
The Loonie was up 0.01% at C$1.3429, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other than a BoJ board member Harada speech, there was very little to shift market sentiment following the European and U.S sell-off on Friday. While positive for risk sentiment, any upside in the futures market was short-lived For the Major Pairings, At the time of writing, the Japanese Yen was up by 0.12% to ¥119.79 against the U.S Dollar. While the RBNZ is expected to leave rates steady, 4th quarter GDP numbers supported the optimistic outlook towards the New Zealand economy. | Risk aversion provided support through the early part of the day and will likely continue to do so throughout. The Day Ahead: For the EUR It’s a quiet day ahead on theeconomic calendar Business sentiment figures will provide the EUR with direction in the early part of the day. For the Loonie It’s also a quiet day on theeconomic calendar Crude oil prices and risk appetite will provide the Loonie with direction through the day. | The Day Ahead: For the EUR It’s a quiet day ahead on theeconomic calendar Business sentiment figures will provide the EUR with direction in the early part of the day. Brexit will be the key driver through the day and throughout the week for that matter… Uncertainty over what lies ahead weighed on the Pound in the early part of the day. For the Loonie It’s also a quiet day on theeconomic calendar Crude oil prices and risk appetite will provide the Loonie with direction through the day. | Brexit will be the key driver through the day and throughout the week for that matter… Uncertainty over what lies ahead weighed on the Pound in the early part of the day. FOMC member chatter and risk sentiment will be the key drivers. The Loonie was up 0.01% at C$1.3429, against the U.S Dollar, at the time of writing. | f1f9d5b6-ba2f-4527-8c98-b05549d426ca |
709273.0 | 2019-03-21 00:00:00 UTC | Make the Most of the Oil Rush With These ETFs | DBO | https://www.nasdaq.com/articles/make-most-oil-rush-these-etfs-2019-03-21 | nan | nan | After feeble trading at the end of last year, oil price made a nice comeback and is hovering around this year's high on OPEC-led fresh crude output cuts and falling output from Iran and Venezuela due to U.S. sanctions. Notably, oil price in New York has rallied 30% this year so far (read: Oil Jumps: 4 ETFs to Benefit & 4 to Suffer ).
The Organization of the Petroleum Exporting Countries (OPEC) has agreed to curb production by 1.2 million barrels per day during the first six months of 2019 in order to tackle global supply glut and rebalance the oil market. The 14-member OPEC cartel has agreed to reduce its output by 800,000 barrels per day, while Russia and the allied producers will take off 400,000 barrels per day from the market. Further, the Fed's dovish outlook, which pushed the U.S. dollar down, led to a spike in oil price. Notably, a weak dollar made dollar-denominated assets cheap for foreign investors, potentially raising demand for commodities.
However, renewed fears of global slowdown and lingering uncertainty surrounding the US-China trade deal have dampened the outlook for oil demand, thereby capping the oil rally. Additionally, U.S. crude oil production has risen more than 2 million barrels per day since early 2018 to around 12 million barrels per day, making the United States the world's biggest producer ahead of Russia and Saudi Arabia. The combination of higher domestic production and prospect of reducing demand is weighing on the oil price.
Given the clouds over the outlook for oil investment, investors should place their bet on oil ETFs cautiously or could take advantage of the quick turn in sentiment with the help of leveraged or inverse ETFs.
Oil ETFs
These ETFs might be easier plays for investors seeking to deal directly in the futures market.
United States Oil Fund USO : This is the most popular and liquid ETF in the oil space with an AUM of $1.6 billion and average daily volume of more than 28.3 million shares. The fund seeks to match the performance of the spot price of West Texas Intermediate (WTI or U.S. crude). The ETF has 0.45% in expense ratio (read: Wall Street's Best Start Since 1987: Top ETFs of Top Sectors ).
United States Brent Oil Fund BNO : This fund provides direct exposure to the spot price of Brent crude oil on a daily basis through future contracts. It has amassed $97.6 million in its asset base and trades in a good volume of roughly 360,000 shares a day. The ETF charges 75 bps in annual fees and expenses.
Invesco DB Oil Fund DBO : This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. The fund sees solid average daily volume of around 788,000 shares and has AUM of $319.4 million. It charges an expense ratio of 0.78%.
iPath S&P GSCI Crude Oil Total Return Index ETN OIL : This is an ETN option for oil investors and delivers returns through an unleveraged investment in the WTI crude oil futures contract. The product follows the S&P GSCI Crude Oil Total Return Index, a subset of the S&P GSCI Commodity Index. The note has amassed $99.4 million in AUM and trades in a paltry volume of 7,000 shares a day. Its expense ratio came in at 0.75%
United States 12 Month Oil Fund USL : USL provides investors exposure to front-month WTI futures contracts. It is unpopular and less liquid with AUM of $63.9 million and average daily volume of 19,000 shares. Its expense ratio is 0.86% (read: Hedge Funds Bet Big on Oil: ETFs in Focus ).
Leveraged Oil ETFs
Investors who are bullish on oil may consider a near-term long on the commodity with the following ETFs depending on their risk appetite.
ProShares Ultra Bloomberg Crude Oil ETF UCO : This fund seeks to deliver twice (2x or 200%) the returns of the daily performance of the Bloomberg WTI Crude Oil Subindex, which consists of futures contracts on crude oil. It has $442.3 million in AUM and trades in heavy volume of about 3.5 million shares a day on average. Its expense ratio came in at 0.95%.
VelocityShares 3x Long Crude Oil ETN UWT : This seeks to deliver thrice (3x or 300%) the returns of the S&P GSCI Crude Oil Index Excess Return and has amassed $422.2 million in its asset base. The ETN trades in heavy volumes of around 8.8 million shares a day though it charges a higher fee of 1.50% per year.
ProShares UltraPro 3x Crude Oil ETF OILU : This ETF offers three times exposure to the daily performance of the Bloomberg WTI Crude Oil Subindex. The fund has amassed $137.9 million in its asset base and trades in solid average volume of 802,000 shares. It charges investors 95 bps in annual fees (read: How to Play Oil Rally With Leveraged ETFs ).
UBS ETRACS ProShares Daily 3x Long Crude ETN WTIU : With AUM of $21.3 million, WTIU also delivers three times exposure to the daily performance of the Bloomberg WTI Crude Oil Subindex ER. It has an expense ratio of 1.45% and trades in average daily volume of 77,000 shares.
United States 3x Oil Fund USOU : This fund provides three times the daily price movements of WTI oil, charging investors 1.00% in expense ratio. It has accumulated $22.3 million in its asset base and trades in moderate volume of 94,000 shares a day.
Inverse Oil ETFs
Any negative news flow could provide investors' a near-term short opportunity on the commodity according to their risk appetite.
DB Crude Oil Short ETN SZO : This is an ETN option and arguably the least risky choice in this space as it provides inverse exposure to the WTI crude without any leverage. It tracks the Deutsche Bank Liquid Commodity Index - Oil - which measures the performance of the basket of oil future contracts. The note is unpopular as evident from an AUM of $0.9 million and average daily volume of under 1,000 shares a day. Its expense ratio is 0.75%.
ProShares UltraShort Bloomberg Crude Oil SCO : This fund seeks to deliver twice the inverse daily performance of the Bloomberg WTI Crude Oil Subindex. It has attracted $67.6 million in its asset base and charges 95 bps in fees and expenses. Volume is solid as it exchanges nearly 2.5 million shares in hand per day.
DB Crude Oil Double Short ETN DTO : This ETN provides 2x inverse exposure to the Deutsche Bank Liquid Commodity Index-Light Crude. It has amassed $15.1 million in its asset base and trades in a paltry daily volume of roughly 4,000 shares. The product charges 75 bps in fees per year.
United States 3x Short Oil Fund USOD : The ETF creates a three times short position in the movements of WTI. It has amassed about $2.26 million in its asset base and has expense ratio of 0.95%. Volume is solid as it exchanges around 36,000 shares a day on average (see: all the Inverse Commodity ETFs here ).
ProShares UltraPro 3x Short Crude Oil ETF OILD : This fund seeks to deliver thrice the daily inverse performance of the Bloomberg WTI Crude Oil Subindex. It has attracted $12.4 million in its asset base and charges 95 bps in fees and expenses. Volume is solid as it exchanges nearly 434,000 shares in hand per day.
UBS ETRACS ProShares Daily 3x Inverse Crude ETN WTID : This ETN is linked to the daily compounded 3x leveraged inverse performance of the Bloomberg WTI Crude Oil Subindex ER. It has lower AUM of $3.1 million in AUM and trades in light volume of 4,000 shares a day. Expense ratio is pretty high at 1.85%.
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DB CO SH (SZO): ETF Research Reports
United States Brent Oil Fund LP (BNO): ETF Research Reports
US Commodity Funds United States 12 Month Oil (USL): ETF Research Reports
Invesco DB Oil Fund (DBO): ETF Research Reports
ProShares Ultra Bloomberg Crude Oil (UCO): ETF Research Reports
US Commodity Funds United States Oil Fund (USO): ETF Research Reports
iPath Series B S&P GSCI Crude Oil Total Return Index ETN (OIL): ETF Research Reports
ProShares UltraShort Bloomberg Crude Oil (SCO): ETF Research Reports
DB CO DS (DTO): ETF Research Reports
ProShares UltraPro 3x Short Crude Oil ETF (OILD): ETF Research Reports
ProShares UltraPro 3x Crude Oil ETF (OILU): ETF Research Reports
United States 3x Short Oil Fund (USOD): ETF Research Reports
UBS ETRACS - ProShares Daily 3x Long Crude ETN (WTIU): ETF Research Reports
UBS ETRACS - ProShares Daily 3x Inverse Crude ETN (WTID): ETF Research Reports
Velocityshares 3X Long Crude Oil Etn (UWT): ETF Research Reports
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Invesco DB Oil Fund DBO : This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. Click to get this free report DB CO SH (SZO): ETF Research Reports United States Brent Oil Fund LP (BNO): ETF Research Reports US Commodity Funds United States 12 Month Oil (USL): ETF Research Reports Invesco DB Oil Fund (DBO): ETF Research Reports ProShares Ultra Bloomberg Crude Oil (UCO): ETF Research Reports US Commodity Funds United States Oil Fund (USO): ETF Research Reports iPath Series B S&P GSCI Crude Oil Total Return Index ETN (OIL): ETF Research Reports ProShares UltraShort Bloomberg Crude Oil (SCO): ETF Research Reports DB CO DS (DTO): ETF Research Reports ProShares UltraPro 3x Short Crude Oil ETF (OILD): ETF Research Reports ProShares UltraPro 3x Crude Oil ETF (OILU): ETF Research Reports United States 3x Short Oil Fund (USOD): ETF Research Reports UBS ETRACS - ProShares Daily 3x Long Crude ETN (WTIU): ETF Research Reports UBS ETRACS - ProShares Daily 3x Inverse Crude ETN (WTID): ETF Research Reports Velocityshares 3X Long Crude Oil Etn (UWT): ETF Research Reports To read this article on Zacks.com click here. The Organization of the Petroleum Exporting Countries (OPEC) has agreed to curb production by 1.2 million barrels per day during the first six months of 2019 in order to tackle global supply glut and rebalance the oil market. | Click to get this free report DB CO SH (SZO): ETF Research Reports United States Brent Oil Fund LP (BNO): ETF Research Reports US Commodity Funds United States 12 Month Oil (USL): ETF Research Reports Invesco DB Oil Fund (DBO): ETF Research Reports ProShares Ultra Bloomberg Crude Oil (UCO): ETF Research Reports US Commodity Funds United States Oil Fund (USO): ETF Research Reports iPath Series B S&P GSCI Crude Oil Total Return Index ETN (OIL): ETF Research Reports ProShares UltraShort Bloomberg Crude Oil (SCO): ETF Research Reports DB CO DS (DTO): ETF Research Reports ProShares UltraPro 3x Short Crude Oil ETF (OILD): ETF Research Reports ProShares UltraPro 3x Crude Oil ETF (OILU): ETF Research Reports United States 3x Short Oil Fund (USOD): ETF Research Reports UBS ETRACS - ProShares Daily 3x Long Crude ETN (WTIU): ETF Research Reports UBS ETRACS - ProShares Daily 3x Inverse Crude ETN (WTID): ETF Research Reports Velocityshares 3X Long Crude Oil Etn (UWT): ETF Research Reports To read this article on Zacks.com click here. Invesco DB Oil Fund DBO : This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. UBS ETRACS ProShares Daily 3x Long Crude ETN WTIU : With AUM of $21.3 million, WTIU also delivers three times exposure to the daily performance of the Bloomberg WTI Crude Oil Subindex ER. | Click to get this free report DB CO SH (SZO): ETF Research Reports United States Brent Oil Fund LP (BNO): ETF Research Reports US Commodity Funds United States 12 Month Oil (USL): ETF Research Reports Invesco DB Oil Fund (DBO): ETF Research Reports ProShares Ultra Bloomberg Crude Oil (UCO): ETF Research Reports US Commodity Funds United States Oil Fund (USO): ETF Research Reports iPath Series B S&P GSCI Crude Oil Total Return Index ETN (OIL): ETF Research Reports ProShares UltraShort Bloomberg Crude Oil (SCO): ETF Research Reports DB CO DS (DTO): ETF Research Reports ProShares UltraPro 3x Short Crude Oil ETF (OILD): ETF Research Reports ProShares UltraPro 3x Crude Oil ETF (OILU): ETF Research Reports United States 3x Short Oil Fund (USOD): ETF Research Reports UBS ETRACS - ProShares Daily 3x Long Crude ETN (WTIU): ETF Research Reports UBS ETRACS - ProShares Daily 3x Inverse Crude ETN (WTID): ETF Research Reports Velocityshares 3X Long Crude Oil Etn (UWT): ETF Research Reports To read this article on Zacks.com click here. Invesco DB Oil Fund DBO : This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. iPath S&P GSCI Crude Oil Total Return Index ETN OIL : This is an ETN option for oil investors and delivers returns through an unleveraged investment in the WTI crude oil futures contract. | Click to get this free report DB CO SH (SZO): ETF Research Reports United States Brent Oil Fund LP (BNO): ETF Research Reports US Commodity Funds United States 12 Month Oil (USL): ETF Research Reports Invesco DB Oil Fund (DBO): ETF Research Reports ProShares Ultra Bloomberg Crude Oil (UCO): ETF Research Reports US Commodity Funds United States Oil Fund (USO): ETF Research Reports iPath Series B S&P GSCI Crude Oil Total Return Index ETN (OIL): ETF Research Reports ProShares UltraShort Bloomberg Crude Oil (SCO): ETF Research Reports DB CO DS (DTO): ETF Research Reports ProShares UltraPro 3x Short Crude Oil ETF (OILD): ETF Research Reports ProShares UltraPro 3x Crude Oil ETF (OILU): ETF Research Reports United States 3x Short Oil Fund (USOD): ETF Research Reports UBS ETRACS - ProShares Daily 3x Long Crude ETN (WTIU): ETF Research Reports UBS ETRACS - ProShares Daily 3x Inverse Crude ETN (WTID): ETF Research Reports Velocityshares 3X Long Crude Oil Etn (UWT): ETF Research Reports To read this article on Zacks.com click here. Invesco DB Oil Fund DBO : This product provides exposure to crude oil through WTI futures contracts and follows the DBIQ Optimum Yield Crude Oil Index Excess Return. The ETN trades in heavy volumes of around 8.8 million shares a day though it charges a higher fee of 1.50% per year. | 8edca86b-34c6-40f9-8bc7-fa1e451c8687 |
709274.0 | 2019-03-21 00:00:00 UTC | The EU Summit and the BoE Put the Pound Back in the Spotlight | DBO | https://www.nasdaq.com/articles/eu-summit-and-boe-put-pound-back-spotlight-2019-03-21 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side. 4th quarter GDP numbers out of New Zealand and employment figures out of Australia provided direction early on.
In the wake of a particularly dovish FED, the markets also responded further to the forward guidance on policy and economic outlook for the U.S.
For the Kiwi Dollar,
The economy grew by 0.6%, quarter-on-quarter, in the 4th quarter. In line with forecasts, growth picked up from the 3rd quarter’s 0.3%. According to figures released by NZStats:
Growth was attributed to a 0.9% rise in service industries, which was partially offset by 0.2% growth in goods-producing industries.
Retail and accommodation led the services industry, with growth of 2.5%, which came primarily from food and beverage services.
Transport, postal and warehousing also saw strong growth, up by 3.2%.
From goods-producing industries, construction (+1.8%) was the only industry to see an increase in growth.
The economy grew by 2.8% in 2018, which was in line with forecasts, whilst softer than 3.1% growth in 2017.
Year-on-year, the economy grew by 2.3% in the 4th quarter, which was softer than a forecasted 2.5% and 3rd quarter 2.6%.
The Kiwi Dollar moved from $0.68718 to $0.69719 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6920, up by 0.54% for the session.
For the Aussie Dollar,
According to the figures released by the ABS,
The number of employed rose by 14.8k in February, coming up short of a forecasted 15k increase, following January’s 39.1k rise.
Full employment slipped by 7.3k in February, following a 65.4k increase in January.
The unemployment rate fell from 5.0% to 4.9% in February, with the participation rate falling from 65.7% to 65.6%.
Part-time employment increased by 11.9k, partially reversing a 26.3k decrease in January.
Since February 2018, full-time employment increased by 210k, while part-time employment has risen by 74k.
The Aussie Dollar moved from $0.71358 to $0.71564 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7147, up by 0.44% for the session
Elsewhere,
At the time of writing, the Japanese Yen was up 0.15% to ¥110.53 against the Dollar. In spite of the BoJ going nowhere on a shift in policy, support for the Yen continued early in the day. Whether a return to ¥109 levels is feasible remains to be seen, however, with economic data out of Japan suggesting more easing may be required.
The Day Ahead:
For the EUR
There are no material stats scheduled for release out of the Eurozone today to provide direction to the EUR. While there are no stats, the ECB Economic Bulletin will garner some attention. Following a more dovish than anticipated FED, the upside for the EUR could be limited should there be any more downward revisions.
Convergence in the ECB and FED’s outlook towards monetary policy will provide support for the EUR. Any risk aversion would likely limit any upside later in the day, however.
At the time of writing, the EUR was up 0.08% at $1.1422.
For the Pound
It’s a big day for the Pound. On the data front, February retail sales figures are due out. While forecasts are for a moderate increase in sales, the Pound would likely find some support early on in the day.
Outside of the numbers, the BoE will deliver its March monetary policy decision later in the day. With uncertainty over Brexit continuing to linger, there’s unlikely to be any surprise guidance from Carney and the team.
On the Brexit front, the EU Summit kicks off today and British Prime Minister Theresa May will be looking for approval of the Brexit extension. According to reports, the extension request was for just 3-months. With Parliament having failed to agree on a deal, how member states view the timeline will be of interest. The EU may force Britain into a lengthier extension, which should be Pound negative.
At the time of writing, the Pound was up by 0.13% to $1.3215, early gains coming off the back of Dollar weakness.
Across the Pond
It’s a busier day on the economic calendar. The weekly jobless claims and March Philly FED Manufacturing PMI numbers are due out. Both data sets are likely to influence, whilst 4th quarter current account figures will likely be brushed aside.
Outside of the numbers, more U.S-China trade war chatter may also be on the cards. Comments on Wednesday raised some concerns over whether an agreement can be reached ahead of an anticipated Trump – Xi meeting next month.
At the time of writing, the Dollar Spot Index was up by 0.18% to 95.935.
For the Loonie
Following a quiet first half of the week, January wholesale sales figures are due out later today. While forecasts are skewed against the Loonie, a jump in crude oil prices and a dovish FED should limit any downside.
The Bank of Canada may have been dovish but, with the FED joining the likes of the BoC and ECB, a degree of monetary policy convergence took place late on Wednesday.
The Loonie was up 0.16% at C$1.3284, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
More From FXEMPIRE:
Market Review – EURUSD testing 1.1200, Stocks rise stall on lack of further impulse
AUD/USD Price Forecast – Australian dollar falls hard
Natural Gas Price Forecast – Natural gas markets drift lower on Tuesday
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the wake of a particularly dovish FED, the markets also responded further to the forward guidance on policy and economic outlook for the U.S. For the Kiwi Dollar, The economy grew by 0.6%, quarter-on-quarter, in the 4th quarter. The Bank of Canada may have been dovish but, with the FED joining the likes of the BoC and ECB, a degree of monetary policy convergence took place late on Wednesday. This article was originally posted on FX Empire More From FXEMPIRE: Market Review – EURUSD testing 1.1200, Stocks rise stall on lack of further impulse AUD/USD Price Forecast – Australian dollar falls hard Natural Gas Price Forecast – Natural gas markets drift lower on Tuesday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Convergence in the ECB and FED’s outlook towards monetary policy will provide support for the EUR. On the data front, February retail sales figures are due out. This article was originally posted on FX Empire More From FXEMPIRE: Market Review – EURUSD testing 1.1200, Stocks rise stall on lack of further impulse AUD/USD Price Forecast – Australian dollar falls hard Natural Gas Price Forecast – Natural gas markets drift lower on Tuesday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, According to the figures released by the ABS, The number of employed rose by 14.8k in February, coming up short of a forecasted 15k increase, following January’s 39.1k rise. At the time of writing, the Aussie Dollar stood at $0.7147, up by 0.44% for the session Elsewhere, At the time of writing, the Japanese Yen was up 0.15% to ¥110.53 against the Dollar. This article was originally posted on FX Empire More From FXEMPIRE: Market Review – EURUSD testing 1.1200, Stocks rise stall on lack of further impulse AUD/USD Price Forecast – Australian dollar falls hard Natural Gas Price Forecast – Natural gas markets drift lower on Tuesday The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to figures released by NZStats: Growth was attributed to a 0.9% rise in service industries, which was partially offset by 0.2% growth in goods-producing industries. For the Aussie Dollar, According to the figures released by the ABS, The number of employed rose by 14.8k in February, coming up short of a forecasted 15k increase, following January’s 39.1k rise. Convergence in the ECB and FED’s outlook towards monetary policy will provide support for the EUR. | ba243705-361b-49dc-96a3-4a35f70e2b6c |
709275.0 | 2019-03-21 00:00:00 UTC | The EU Summit and the BoE Put the Pound Back in the Spotlight | DBO | https://www.nasdaq.com/articles/eu-summit-and-boe-put-pound-back-spotlight-2019-03-21-0 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side. 4 th quarter GDP numbers out of New Zealand and employment figures out of Australia provided direction early on.
In the wake of a particularly dovish FED, the markets also responded further to the forward guidance on policy and economic outlook for the U.S.
For the Kiwi Dollar,
The economy grew by 0.6%, quarter-on-quarter, in the 4 th quarter. In line with forecasts, growth picked up from the 3 rd quarter's 0.3%. According to figures released by NZStats :
Growth was attributed to a 0.9% rise in service industries, which was partially offset by 0.2% growth in goods-producing industries.
Retail and accommodation led the services industry, with growth of 2.5%, which came primarily from food and beverage services.
Transport, postal and warehousing also saw strong growth, up by 3.2%.
From goods-producing industries, construction (+1.8%) was the only industry to see an increase in growth.
The economy grew by 2.8% in 2018, which was in line with forecasts, whilst softer than 3.1% growth in 2017.
Year-on-year, the economy grew by 2.3% in the 4 th quarter, which was softer than a forecasted 2.5% and 3 rd quarter 2.6%.
The Kiwi Dollar moved from $0.68718 to $0.69719 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6920, up by 0.54% for the session.
For the Aussie Dollar,
According to the figures released by the ABS ,
The number of employed rose by 14.8k in February, coming up short of a forecasted 15k increase, following January's 39.1k rise.
Full employment slipped by 7.3k in February, following a 65.4k increase in January.
The unemployment rate fell from 5.0% to 4.9% in February, with the participation rate falling from 65.7% to 65.6%.
Part-time employment increased by 11.9k, partially reversing a 26.3k decrease in January.
Since February 2018, full-time employment increased by 210k, while part-time employment has risen by 74k.
The Aussie Dollar moved from $0.71358 to $0.71564 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7147, up by 0.44% for the session
Elsewhere,
At the time of writing, the Japanese Yen was up 0.15% to ¥110.53 against the Dollar. In spite of the BoJ going nowhere on a shift in policy, support for the Yen continued early in the day. Whether a return to ¥109 levels is feasible remains to be seen, however, with economic data out of Japan suggesting more easing may be required.
The Day Ahead:
For the EUR
There are no material stats scheduled for release out of the Eurozone today to provide direction to the EUR. While there are no stats, the ECB Economic Bulletin will garner some attention. Following a more dovish than anticipated FED, the upside for the EUR could be limited should there be any more downward revisions.
Convergence in the ECB and FED's outlook towards monetary policy will provide support for the EUR. Any risk aversion would likely limit any upside later in the day, however.
At the time of writing, the EUR was up 0.08% at $1.1422.
For the Pound
It's a big day for the Pound. On the data front, February retail sales figures are due out. While forecasts are for a moderate increase in sales, the Pound would likely find some support early on in the day.
Outside of the numbers, the BoE will deliver its March monetary policy decision later in the day. With uncertainty over Brexit continuing to linger, there's unlikely to be any surprise guidance from Carney and the team.
On the Brexit front, the EU Summit kicks off today and British Prime Minister Theresa May will be looking for approval of the Brexit extension. According to reports, the extension request was for just 3-months. With Parliament having failed to agree on a deal, how member states view the timeline will be of interest. The EU may force Britain into a lengthier extension, which should be Pound negative.
At the time of writing, the Pound was up by 0.13% to $1.3215, early gains coming off the back of Dollar weakness.
Across the Pond
It's a busier day on the economic calendar . The weekly jobless claims and March Philly FED Manufacturing PMI numbers are due out. Both data sets are likely to influence, whilst 4 th quarter current account figures will likely be brushed aside.
Outside of the numbers, more U.S-China trade war chatter may also be on the cards. Comments on Wednesday raised some concerns over whether an agreement can be reached ahead of an anticipated Trump - Xi meeting next month.
At the time of writing, the Dollar Spot Index was up by 0.18% to 95.935.
For the Loonie
Following a quiet first half of the week, January wholesale sales figures are due out later today. While forecasts are skewed against the Loonie, a jump in crude oil prices and a dovish FED should limit any downside.
The Bank of Canada may have been dovish but, with the FED joining the likes of the BoC and ECB, a degree of monetary policy convergence took place late on Wednesday.
The Loonie was up 0.16% at C$1.3284, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the wake of a particularly dovish FED, the markets also responded further to the forward guidance on policy and economic outlook for the U.S. For the Kiwi Dollar, The economy grew by 0.6%, quarter-on-quarter, in the 4 th quarter. For the Aussie Dollar, According to the figures released by the ABS , The number of employed rose by 14.8k in February, coming up short of a forecasted 15k increase, following January's 39.1k rise. The Bank of Canada may have been dovish but, with the FED joining the likes of the BoC and ECB, a degree of monetary policy convergence took place late on Wednesday. | Convergence in the ECB and FED's outlook towards monetary policy will provide support for the EUR. On the data front, February retail sales figures are due out. This article was originally posted on FX Empire More From FXEMPIRE: Fed Crashed the Dollar in Favour of Trump Downbeat Fed to Encourage Further Investments Into Emerging Markets EUR/USD Price Forecast - Euro Gains on Post FOMC USD Weakness The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, According to the figures released by the ABS , The number of employed rose by 14.8k in February, coming up short of a forecasted 15k increase, following January's 39.1k rise. At the time of writing, the Aussie Dollar stood at $0.7147, up by 0.44% for the session Elsewhere, At the time of writing, the Japanese Yen was up 0.15% to ¥110.53 against the Dollar. This article was originally posted on FX Empire More From FXEMPIRE: Fed Crashed the Dollar in Favour of Trump Downbeat Fed to Encourage Further Investments Into Emerging Markets EUR/USD Price Forecast - Euro Gains on Post FOMC USD Weakness The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to figures released by NZStats : Growth was attributed to a 0.9% rise in service industries, which was partially offset by 0.2% growth in goods-producing industries. For the Aussie Dollar, According to the figures released by the ABS , The number of employed rose by 14.8k in February, coming up short of a forecasted 15k increase, following January's 39.1k rise. Convergence in the ECB and FED's outlook towards monetary policy will provide support for the EUR. | 301eaf9e-d244-4202-989d-4ebdea514e60 |
709276.0 | 2019-03-20 00:00:00 UTC | USD Index Licks More Pain After Fed Decision | DBO | https://www.nasdaq.com/articles/usd-index-licks-more-pain-after-fed-decision-2019-03-20 | nan | nan | FXEmpire.com -
US Dollar Slips Ahead Of FOMC
The Dollar Index touched the intraday low of 95.76 after the Federal Open Market Committee (FOMC) announcement of keeping the rates unchanged. Earlier in the day, USD Index computing the greenback against the six major rival currencies touched new peaks drifting near 96.50 during the morning trading session.
The Committee maintained the target range for the federal funds rate at 2-1/4 to 2-1/2 percent. Market participants were expecting unchanged interest rates. The reason for having a sudden selling pressure in USD Index was due to unexpected information. The surprising factor was of having more than anticipated dovish stance in policy statement and projections. The GDP growth forecasts were revised downwards slightly for the year 2019 and 2020. The unemployment rate was also expected to slightly higher.
USD Index 21 March 2019
In the post-FOMC press conference, Jerome Powell, Chair of the Federal Reserve commented that Budget Deficits Still Matter – “Deficits matter… it’s not controversial,” Mr. Powell said. “I’d like to see a greater focus on that over time,” adding that he didn’t see the issue as something leading to an immediate problem. “It’s not in the nature of a near-term debt crisis or anything like that.”
EUR/USD Skyrocketed Under A Weak USD
The EUR/USD which was drifting near 1.1350 level before the FOMC release upshot to 1.1414 level post meeting. With the interest rates maintained at the same levels as per the FOMC statement, USD Index slumped heavily. The Equity prices were seen to rise while US Yields were down. The pair decisively crossed its March month’s highest level.
EURUSD 30 Min 21 March 2019
USD/JPY Dragged Down Post FOMC
Today, the USD/JPY pair wiped the losses which it made in the Tuesday’s trading session. The USD/JPY pair touched a 5-day high level of 111.7, and laterwards it started to consolidate amidst major FOMC announcements to come. The pair lost more than 50 pips following the FOMC meeting release. USD tumbled while Yen escalated. The 10-year yield had declined to reach 2.56 percent. This was the lowest since January which helped USD/JPY to plunge more.
USDJPY 60 Min 21 March 2019
The government of Japan had reduced the outlook numbers for the economy in its March report after three years. The manufacturing and the export sectors produced the weakest numbers according to the report. The yen remained silent again but can violate with some impactful news coming out of the US-China trade talks.
USD/CAD Drops From Peak With High Crude Prices
WTI price shot up reaching a 4-month high of $59.55. The global sluggish economic growth and crude supply cut added extra elevation to the commodity price. As per the latest decision by the OPEC, the scheduled April meeting was postponed to more than until June. Last day, API had released its weekly crude inventory report which came out to be a draw and market expected an addition to the crude stock.
The Canadian Government announced its budget for the year 2019 but seemed to have less impact on the loonie.
AUD/USD Pushes Upward With Rates Unchanged
Following the Fed’s confirmation to keep rates the same as previous helped the AUD/USD to soar. The pair badly tumbled earlier the day after the release of the speech by Reserve Bank of Australia (RBA) Assist Governor Bullock. The impacting part of the statement was regarding the lowered Sydney home prices and iron ore futures. The commodity price slipped after Vale was allowed to reopen one of its major iron ore mines in Brazil. Following this news, the pair dropped below to 0.7057 level after that the upward movement was pretty steady.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the day, USD Index computing the greenback against the six major rival currencies touched new peaks drifting near 96.50 during the morning trading session. EURUSD 30 Min 21 March 2019 USD/JPY Dragged Down Post FOMC Today, the USD/JPY pair wiped the losses which it made in the Tuesday’s trading session. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast – Even With Central Banks Turning Dovish, Gold Can’t Seem to Attract Buyers AUD and NZD get another Hit DAX Index Daily Price Forecast – DAX to Trade Flat on Mixed Cues The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With the interest rates maintained at the same levels as per the FOMC statement, USD Index slumped heavily. USD/CAD Drops From Peak With High Crude Prices WTI price shot up reaching a 4-month high of $59.55. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast – Even With Central Banks Turning Dovish, Gold Can’t Seem to Attract Buyers AUD and NZD get another Hit DAX Index Daily Price Forecast – DAX to Trade Flat on Mixed Cues The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FXEmpire.com - US Dollar Slips Ahead Of FOMC The Dollar Index touched the intraday low of 95.76 after the Federal Open Market Committee (FOMC) announcement of keeping the rates unchanged. With the interest rates maintained at the same levels as per the FOMC statement, USD Index slumped heavily. This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Daily Forecast – Even With Central Banks Turning Dovish, Gold Can’t Seem to Attract Buyers AUD and NZD get another Hit DAX Index Daily Price Forecast – DAX to Trade Flat on Mixed Cues The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The USD/JPY pair touched a 5-day high level of 111.7, and laterwards it started to consolidate amidst major FOMC announcements to come. USD/CAD Drops From Peak With High Crude Prices WTI price shot up reaching a 4-month high of $59.55. AUD/USD Pushes Upward With Rates Unchanged Following the Fed’s confirmation to keep rates the same as previous helped the AUD/USD to soar. | ecc183f5-a06a-4ece-bed5-1a7943775baf |
709277.0 | 2019-03-18 00:00:00 UTC | US Stock Market Overview – Energy Shares Outperform, Boeing Weighs on Dow Industrials | DBO | https://www.nasdaq.com/articles/us-stock-market-overview-energy-shares-outperform-boeing-weighs-dow-industrials-2019-03-18 | nan | nan | FXEmpire.com -
US stocks continued to rally on Monday, as the global stock rally continued to perpetuate. Stocks in Asia were higher led by a robust 2.47% rally in the Shanghai. The Heng Sang and the Nikkei were also higher which spilled over into Europe. The Dow Jones Industrial started the session in the red, and but rallied into positive territory despite pressure from headwinds generated by Boeing. Federal US prosecutors are scrutinizing the developments with regard to the black box on the Boeing 737 that recently crashed in Ethiopia. FANG stocks were mixed, but a breakout in Amazon shares should help the broader market especially the discretionary sector.
Sectors were mixed on Monday with Energy and Financials leading the S&P 500 higher, while real-estate and Utilities were the worst performers. Facebook was downgraded on Monday and dropped 3.3%, as the digital advertising platform is changing as their platform has been diluted. The company is trying to figure out how to monetize there other platforms including Instagram and Whatsapp.
Energy Shares Continue to Rally Buoyed by Crude Oil
Energy shares were the best performing sector on Monday, led by a 1% rise in crude oil prices. WTI closed above $59 per barrel on Monday for the first time since November of 2018. Oil prices were buoyed by news that OPEC would hold off on changing their output until June. OPEC officials have been signaling that they would consider a change in April but now it appears to be too early to assess the actual impact of the sanctions on Venezuela and the U.S. policy on the waivers for Iranian oil customers after the current waivers expire in early May.
Boeing Continues to Face Negative Headlines
Federal prosecutors and Department of Transportation officials are investigating the development of Boeing 737 MAX jetliners. A grand jury in Washington, D.C., issued a broad subpoena dated March 11 to at least one person involved in the 737 MAX’s development. The subpoena, with a prosecutor from the Justice Department’s criminal division listed as a contact, sought documents to be handed over later this month.
Facebook Was Downgraded by Needham
Facebook dropped Monday after Needham analyst Laura Martin downgraded the stock to a hold rating and warned clients that the recent departure of 11 senior managers could spark further declines in the profitability of the company. Martin wrote that Facebook’s issues with privacy and encrypted messaging, rising regulatory risk and the upload of disturbing content will accelerate the management exodus.
Amazon is Breaking Higher Eclipsing Key Levels
Amazon shares are leading the discretionary shares higher, breaking out of a range that has encapsulated the shares for all of 2019. Prices closed above the pivotal 200-day moving average for the first time in nearly 5-months which helped the entire discretionary sector gain traction.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Dow Jones Industrial started the session in the red, and but rallied into positive territory despite pressure from headwinds generated by Boeing. Martin wrote that Facebook’s issues with privacy and encrypted messaging, rising regulatory risk and the upload of disturbing content will accelerate the management exodus. This article was originally posted on FX Empire More From FXEMPIRE: Gold Monthly Forecast – April 2019 Bitcoin – A Bullish Start to the Day Brings Optimism Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/04/19 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Energy Shares Continue to Rally Buoyed by Crude Oil Energy shares were the best performing sector on Monday, led by a 1% rise in crude oil prices. Facebook Was Downgraded by Needham Facebook dropped Monday after Needham analyst Laura Martin downgraded the stock to a hold rating and warned clients that the recent departure of 11 senior managers could spark further declines in the profitability of the company. Amazon is Breaking Higher Eclipsing Key Levels Amazon shares are leading the discretionary shares higher, breaking out of a range that has encapsulated the shares for all of 2019. | Energy Shares Continue to Rally Buoyed by Crude Oil Energy shares were the best performing sector on Monday, led by a 1% rise in crude oil prices. Facebook Was Downgraded by Needham Facebook dropped Monday after Needham analyst Laura Martin downgraded the stock to a hold rating and warned clients that the recent departure of 11 senior managers could spark further declines in the profitability of the company. Amazon is Breaking Higher Eclipsing Key Levels Amazon shares are leading the discretionary shares higher, breaking out of a range that has encapsulated the shares for all of 2019. | FANG stocks were mixed, but a breakout in Amazon shares should help the broader market especially the discretionary sector. Energy Shares Continue to Rally Buoyed by Crude Oil Energy shares were the best performing sector on Monday, led by a 1% rise in crude oil prices. Boeing Continues to Face Negative Headlines Federal prosecutors and Department of Transportation officials are investigating the development of Boeing 737 MAX jetliners. | 5e326940-0c26-4443-9484-2e81c0f306f3 |
709278.0 | 2019-03-15 00:00:00 UTC | The USD is on the Back Foot as Risk Appetite Kicks in Ahead of Today’s Stats | DBO | https://www.nasdaq.com/articles/usd-back-foot-risk-appetite-kicks-ahead-todays-stats-2019-03-15 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side once more. February Business PMI numbers out of New Zealand was the only major stat released in the early hours.
Outside of the numbers, the Bank of Japan’s March monetary policy decision was also there to consider.
For the Kiwi Dollar,
The Business PMI increased from 53.1 to 53.7 in February. According to the figures released by BusinessNZ,
The Production sub-Index rose from 51.3 to 53.9, with the New Orders sub-Index rising by 2.5 points to 54.7.
While there were increases across the finished stocks and deliveries sub-indexes, the employment sub-index fell by 1.2 points to 50.8.
The employment index fell to its lowest level since Aug-18, while the headline PMI hit the 2nd highest level in 9-months.
The Kiwi Dollar moved from $0.68239 to $0.68296 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6843, a gain of 0.29% for the session.
For the Japanese Yen,
The BoJ delivered its March monetary policy decision this morning. There were no surprises, with the BoJ holding rates steady at -0.1%.
While holding rates steady, the BoJ took a more dovish economic outlook. Joining a number of central banks the BoJ also noted rising overseas risks that could materially influence the economy.
BoJ Governor Kuroda had previously spoken of a willingness to deliver more easing should the need arise. Japan’s latest trade and industrial production painted a gloomy picture. The time may be rapidly approaching where the BoJ needs to become somewhat more inventive…
The Japanese Yen moved from ¥111707 to ¥111.571 upon release of the policy decision and policy statement. At the time of writing, the Japanese Yen was up 0.03% to ¥111.67 against the Dollar, with the BoJ Press Conference to come. Early support for the Yen came following news hitting the wires of North Korea planning to suspend nuclear talks with the U.S. The news was not enough to rattle appetite for riskier assets, however.
Elsewhere,
The Aussie Dollar was up by 0.24% to $0.7081. Risk-on sentiment through the early morning provided the upside for the Aussie Dollar and Kiwi Dollar. UK Parliament’s vote in favor of an extension to Article 50 and optimism over a U.S – China trade agreement provided support early on.
The Day Ahead:
For the EUR
Finalized annual headline and core inflation figures are due out of the Eurozone. The Eurozone’s monthly CPI numbers are also due out. With the data on the lighter side through the day, we can expect the EUR to respond to February’s month-on-month move in consumer prices. Forecasts are for a pickup in consumer prices, though for any support for the EUR, finalized figures would need to be in line with or better than prelims.
Outside the numbers, we can expect the markets to continue to respond to the UK parliament’s vote and chatter on U.S – China trade talks. The EUR made an early move off the back of the Brexit extension vote and optimism on trade.
At the time of writing, the EUR up 0.11% at $1.1316.
For the Pound
It’s yet another quiet day on the data front. With no material stats scheduled for release, it’s going to be another day of Brexit induced maneuvers.
Fortunately for the Pound, Parliament voted in favor of extending Article 50, with a majority of 211. The focus will now shift to whether there is any chance of the British PM getting her deal through at a 2nd time of asking. The timeline of the extension remains unclear, with next week’s vote on the deal to dictate whether an extended period of time is needed.
As things stand, Theresa May faces a tall order in getting her deal through. The in-house division saw a large number of Conservative MPs vote against the extension. The vast majority of the votes, in fact, came from the Labour Party.
At the time of writing, the Pound was down by 0.04% to $1.3237.
Across the Pond
It’s a busier day ahead on the economic calendar. In the early part of the afternoon, NY State manufacturing figures, and Industrial production figures are due out. JOLTs job openings and prelim March consumer sentiment figures are due out later in the day.
Following some disappointing NFP numbers released last week, we can expect the JOLTs job openings to have an impact alongside the consumer sentiment figures.
Of less influence will be the manufacturing numbers, though expect the Dollar to respond to any disappointing numbers.
At the time of writing, the Dollar Spot Index was down by 0.11% to 96.676.
For the Loonie
Manufacturing Sales figures are due out this afternoon. While forecasts are for a pickup in sales, following a 1.3% slide in December, any upside in the Loonie would likely be short-lived.
The IEA will release its monthly report later in the morning that will influence the direction of crude oil prices. Market risk sentiment will likely remain the key driver through the day, however.
The Loonie was up 0.17% at C$1.3312, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | UK Parliament’s vote in favor of an extension to Article 50 and optimism over a U.S – China trade agreement provided support early on. Following some disappointing NFP numbers released last week, we can expect the JOLTs job openings to have an impact alongside the consumer sentiment figures. This article was originally posted on FX Empire More From FXEMPIRE: Chinese Stocks Spiked, but Gold and Euro Decline Reflect Market Alertness E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Trader Reaction to 25761 – 25852 Will Set Near-Term Tone Natural Gas Price Fundamental Daily Forecast – Price Action Suggests Early Start to Injection Season The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen, The BoJ delivered its March monetary policy decision this morning. UK Parliament’s vote in favor of an extension to Article 50 and optimism over a U.S – China trade agreement provided support early on. JOLTs job openings and prelim March consumer sentiment figures are due out later in the day. | The time may be rapidly approaching where the BoJ needs to become somewhat more inventive… The Japanese Yen moved from ¥111707 to ¥111.571 upon release of the policy decision and policy statement. At the time of writing, the Japanese Yen was up 0.03% to ¥111.67 against the Dollar, with the BoJ Press Conference to come. Risk-on sentiment through the early morning provided the upside for the Aussie Dollar and Kiwi Dollar. | The Kiwi Dollar moved from $0.68239 to $0.68296 upon release of the figures. JOLTs job openings and prelim March consumer sentiment figures are due out later in the day. Of less influence will be the manufacturing numbers, though expect the Dollar to respond to any disappointing numbers. | d7286150-c693-48f6-a6fa-904c79f8ee32 |
709279.0 | 2019-03-15 00:00:00 UTC | The USD is on the Back Foot as Risk Appetite Kicks in Ahead of Today’s Stats | DBO | https://www.nasdaq.com/articles/usd-back-foot-risk-appetite-kicks-ahead-todays-stats-2019-03-15-0 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side once more. February Business PMI numbers out of New Zealand was the only major stat released in the early hours.
Outside of the numbers, the Bank of Japan's March monetary policy decision was also there to consider.
For the Kiwi Dollar,
The Business PMI increased from 53.1 to 53.7 in February. According to the figures released by BusinessNZ ,
The Production sub-Index rose from 51.3 to 53.9, with the New Orders sub-Index rising by 2.5 points to 54.7.
While there were increases across the finished stocks and deliveries sub-indexes, the employment sub-index fell by 1.2 points to 50.8.
The employment index fell to its lowest level since Aug-18, while the headline PMI hit the 2 nd highest level in 9-months.
The Kiwi Dollar moved from $0.68239 to $0.68296 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6843, a gain of 0.29% for the session.
For the Japanese Yen,
The BoJ delivered its March monetary policy decision this morning. There were no surprises, with the BoJ holding rates steady at -0.1%.
While holding rates steady, the BoJ took a more dovish economic outlook. Joining a number of central banks the BoJ also noted rising overseas risks that could materially influence the economy.
BoJ Governor Kuroda had previously spoken of a willingness to deliver more easing should the need arise. Japan's latest trade and industrial production painted a gloomy picture. The time may be rapidly approaching where the BoJ needs to become somewhat more inventive…
The Japanese Yen moved from ¥111707 to ¥111.571 upon release of the policy decision and policy statement. At the time of writing, the Japanese Yen was up 0.03% to ¥111.67 against the Dollar, with the BoJ Press Conference to come. Early support for the Yen came following news hitting the wires of North Korea planning to suspend nuclear talks with the U.S. The news was not enough to rattle appetite for riskier assets, however.
Elsewhere,
The Aussie Dollar was up by 0.24% to $0.7081. Risk-on sentiment through the early morning provided the upside for the Aussie Dollar and Kiwi Dollar. UK Parliament's vote in favor of an extension to Article 50 and optimism over a U.S - China trade agreement provided support early on.
The Day Ahead:
For the EUR
Finalized annual headline and core inflation figures are due out of the Eurozone. The Eurozone's monthly CPI numbers are also due out. With the data on the lighter side through the day, we can expect the EUR to respond to February's month-on-month move in consumer prices. Forecasts are for a pickup in consumer prices, though for any support for the EUR, finalized figures would need to be in line with or better than prelims.
Outside the numbers, we can expect the markets to continue to respond to the UK parliament's vote and chatter on U.S - China trade talks. The EUR made an early move off the back of the Brexit extension vote and optimism on trade.
At the time of writing, the EUR up 0.11% at $1.1316.
For the Pound
It's yet another quiet day on the data front. With no material stats scheduled for release, it's going to be another day of Brexit induced maneuvers.
Fortunately for the Pound, Parliament voted in favor of extending Article 50, with a majority of 211. The focus will now shift to whether there is any chance of the British PM getting her deal through at a 2 nd time of asking. The timeline of the extension remains unclear, with next week's vote on the deal to dictate whether an extended period of time is needed.
As things stand, Theresa May faces a tall order in getting her deal through. The in-house division saw a large number of Conservative MPs vote against the extension. The vast majority of the votes, in fact, came from the Labour Party.
At the time of writing, the Pound was down by 0.04% to $1.3237.
Across the Pond
It's a busier day ahead on the economic calendar . In the early part of the afternoon, NY State manufacturing figures, and Industrial production figures are due out. JOLTs job openings and prelim March consumer sentiment figures are due out later in the day.
Following some disappointing NFP numbers released last week, we can expect the JOLTs job openings to have an impact alongside the consumer sentiment figures.
Of less influence will be the manufacturing numbers, though expect the Dollar to respond to any disappointing numbers.
At the time of writing, the Dollar Spot Index was down by 0.11% to 96.676.
For the Loonie
Manufacturing Sales figures are due out this afternoon. While forecasts are for a pickup in sales, following a 1.3% slide in December, any upside in the Loonie would likely be short-lived.
The IEA will release its monthly report later in the morning that will influence the direction of crude oil prices . Market risk sentiment will likely remain the key driver through the day, however.
The Loonie was up 0.17% at C$1.3312, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | UK Parliament's vote in favor of an extension to Article 50 and optimism over a U.S - China trade agreement provided support early on. Following some disappointing NFP numbers released last week, we can expect the JOLTs job openings to have an impact alongside the consumer sentiment figures. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Daily Forecast - Rangebound with North Korean Concerns, U.S. Data Market Moving Events NEO Technical Analysis - Support Levels in Play - 15/03/19 Forex Daily Outlook - March 15, 2019 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen, The BoJ delivered its March monetary policy decision this morning. UK Parliament's vote in favor of an extension to Article 50 and optimism over a U.S - China trade agreement provided support early on. JOLTs job openings and prelim March consumer sentiment figures are due out later in the day. | The time may be rapidly approaching where the BoJ needs to become somewhat more inventive… The Japanese Yen moved from ¥111707 to ¥111.571 upon release of the policy decision and policy statement. At the time of writing, the Japanese Yen was up 0.03% to ¥111.67 against the Dollar, with the BoJ Press Conference to come. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Daily Forecast - Rangebound with North Korean Concerns, U.S. Data Market Moving Events NEO Technical Analysis - Support Levels in Play - 15/03/19 Forex Daily Outlook - March 15, 2019 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Kiwi Dollar moved from $0.68239 to $0.68296 upon release of the figures. With the data on the lighter side through the day, we can expect the EUR to respond to February's month-on-month move in consumer prices. Of less influence will be the manufacturing numbers, though expect the Dollar to respond to any disappointing numbers. | 4aef7c89-852e-4741-a0fb-c5eea3ad6f31 |
709280.0 | 2019-03-14 00:00:00 UTC | Is the Pound in Store for Another Brexit Shocker? | DBO | https://www.nasdaq.com/articles/pound-store-another-brexit-shocker-2019-03-14 | nan | nan | FXEmpire.com -
Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side. January fixed asset investment, retail sales, and industrial production figures were released out of China. Earlier on in the session, February house price figures were also released out of the UK.
Out of China,
Retail sales rose by 8.2% in January, year-on-year. Sales came in ahead of a forecasted 8.1% increase, whilst in line with December’s 8.2%.
Fixed Asset investment rose by 6.1% in January, year-on-year. While in line with forecasts, investment picked up from a 5.9% rise in December.
Industrial production increased by 5.3% in January. Falling short of a forecasted 5.5% increase, production eased from December’s 5.7% rise.
The Aussie Dollar moved from $0.70749 to $0.70781 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7061, a loss of 0.47% for the session.
Elsewhere,
The Japanese Yen was down by 0.36% to ¥111.57 against the Dollar. Things were not much better for the Kiwi Dollar, which was down 0.28% to $0.6839 at the time of writing. Support for the Dollar weighed on the majors in the early part of the day.
The Day Ahead:
For the EUR
Finalized February inflation figures are due out of Germany and France later this morning. We would expect the EUR to ignore the figures, barring a material deviation from prelim numbers.
With theeconomic calendarlikely to be of little influence, market risk sentiment through the day will remain the key driver. Updates on trade talks between the U.S and China and Brexit will be in focus through the day.
At the time of writing, the EUR down 0.08% at $1.1318, the Dollar clawing back some of Wednesday’s losses.
For the Pound
There are no material stats scheduled for release through the day, leaving the Pound in the hands of Brexit chatter and Parliament.
While Theresa May’s struggles continue, the Pound found some much-needed support on Wednesday. The 2% rally came off the back of Parliament voting against a no-deal Brexit.
The next vote is on whether to extend Article 50 and the vote will be later today. A vote in favor of an extension will see the British government request an extension from the EU. A vote against an extension would leave the option of re-voting on the existing deal or for Britain to leave the UK without a deal.
Today’s vote could see the Pound give up Wednesday’s gains, with interest, in the event that MPs vote against an extension. An extension and we’ll be talking about Brexit for a little while longer, though Theresa May would possibly be on the way out…
The general consensus is that MPs will vote in favor of an extension, which would be positive for the Pound. There could be a surprise, however.
At the time of writing, the Pound was down by 0.67% to $1.3248.
Across the Pond
The weekly initial jobless claims and February import and export price figures are due out this afternoon, ahead of January new home sales figures.
Barring a jump in initial jobless claims, we would expect the numbers to have a limited influence on the Dollar.
Risk sentiment will continue to impact the Dollar. A Parliamentary vote in favor of an extension to Article 50 later today would likely add further pressure on the Dollar later in the day.
At the time of writing, the Dollar Spot Index was up by 0.11% to 96.657.
For the Loonie
January house price figures are due out later today. The numbers are unlikely to have a material influence on the Loonie through the day.
Of greater influence will be moves in the price of crude oil. Today’s OPEC monthly report could deliver a boost should OPEC project lower output and relatively stable demand.
China’s industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. Sentiment could change later in the day…
The Loonie was down 0.08% at C$1.3312, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR Finalized February inflation figures are due out of Germany and France later this morning. China’s industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Rangebound Trade Indicates Investor Indecision, Impending Volatility E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Traders Trying to Establish Support after Early Rally Fails Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins To Continue Consolidative Price Action The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | January fixed asset investment, retail sales, and industrial production figures were released out of China. Across the Pond The weekly initial jobless claims and February import and export price figures are due out this afternoon, ahead of January new home sales figures. China’s industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. | A Parliamentary vote in favor of an extension to Article 50 later today would likely add further pressure on the Dollar later in the day. China’s industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Rangebound Trade Indicates Investor Indecision, Impending Volatility E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Traders Trying to Establish Support after Early Rally Fails Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins To Continue Consolidative Price Action The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the EUR down 0.08% at $1.1318, the Dollar clawing back some of Wednesday’s losses. China’s industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. Sentiment could change later in the day… The Loonie was down 0.08% at C$1.3312, against the U.S Dollar, at the time of writing. | b9021b37-3549-487f-bdeb-b2a14ec605e4 |
709281.0 | 2019-03-14 00:00:00 UTC | Is the Pound in Store for Another Brexit Shocker? | DBO | https://www.nasdaq.com/articles/pound-store-another-brexit-shocker-2019-03-14-0 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side. January fixed asset investment, retail sales, and industrial production figures were released out of China. Earlier on in the session, February house price figures were also released out of the UK.
Out of China,
Retail sales rose by 8.2% in January, year-on-year. Sales came in ahead of a forecasted 8.1% increase, whilst in line with December's 8.2%.
Fixed Asset investment rose by 6.1% in January, year-on-year. While in line with forecasts, investment picked up from a 5.9% rise in December.
Industrial production increased by 5.3% in January. Falling short of a forecasted 5.5% increase, production eased from December's 5.7% rise.
The Aussie Dollar moved from $0.70749 to $0.70781 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7061, a loss of 0.47% for the session.
Elsewhere,
The Japanese Yen was down by 0.36% to ¥111.57 against the Dollar. Things were not much better for the Kiwi Dollar, which was down 0.28% to $0.6839 at the time of writing. Support for the Dollar weighed on the majors in the early part of the day.
The Day Ahead:
For the EUR
Finalized February inflation figures are due out of Germany and France later this morning. We would expect the EUR to ignore the figures, barring a material deviation from prelim numbers.
With the economic calendar likely to be of little influence, market risk sentiment through the day will remain the key driver. Updates on trade talks between the U.S and China and Brexit will be in focus through the day.
At the time of writing, the EUR down 0.08% at $1.1318, the Dollar clawing back some of Wednesday's losses.
For the Pound
There are no material stats scheduled for release through the day, leaving the Pound in the hands of Brexit chatter and Parliament.
While Theresa May's struggles continue, the Pound found some much-needed support on Wednesday. The 2% rally came off the back of Parliament voting against a no-deal Brexit.
The next vote is on whether to extend Article 50 and the vote will be later today. A vote in favor of an extension will see the British government request an extension from the EU. A vote against an extension would leave the option of re-voting on the existing deal or for Britain to leave the UK without a deal.
Today's vote could see the Pound give up Wednesday's gains, with interest, in the event that MPs vote against an extension. An extension and we'll be talking about Brexit for a little while longer, though Theresa May would possibly be on the way out…
The general consensus is that MPs will vote in favor of an extension, which would be positive for the Pound. There could be a surprise, however.
At the time of writing, the Pound was down by 0.67% to $1.3248.
Across the Pond
The weekly initial jobless claims and February import and export price figures are due out this afternoon, ahead of January new home sales figures.
Barring a jump in initial jobless claims, we would expect the numbers to have a limited influence on the Dollar.
Risk sentiment will continue to impact the Dollar. A Parliamentary vote in favor of an extension to Article 50 later today would likely add further pressure on the Dollar later in the day.
At the time of writing, the Dollar Spot Index was up by 0.11% to 96.657.
For the Loonie
January house price figures are due out later today. The numbers are unlikely to have a material influence on the Loonie through the day.
Of greater influence will be moves in the price of crude oil . Today's OPEC monthly report could deliver a boost should OPEC project lower output and relatively stable demand.
China's industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. Sentiment could change later in the day…
The Loonie was down 0.08% at C$1.3312, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | January fixed asset investment, retail sales, and industrial production figures were released out of China. China's industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Mid-Session Technical Analysis for March 14, 2019 DASH Technical Analysis - Support Levels in Play -14/03/19 Oil Price Fundamental Daily Forecast - Tighter Global Inventories Underpinning Prices The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | January fixed asset investment, retail sales, and industrial production figures were released out of China. Across the Pond The weekly initial jobless claims and February import and export price figures are due out this afternoon, ahead of January new home sales figures. China's industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. | A Parliamentary vote in favor of an extension to Article 50 later today would likely add further pressure on the Dollar later in the day. China's industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Mid-Session Technical Analysis for March 14, 2019 DASH Technical Analysis - Support Levels in Play -14/03/19 Oil Price Fundamental Daily Forecast - Tighter Global Inventories Underpinning Prices The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the EUR down 0.08% at $1.1318, the Dollar clawing back some of Wednesday's losses. China's industrial production figures, released during the Asian session, had limited influence on crude oil prices early on. Sentiment could change later in the day… The Loonie was down 0.08% at C$1.3312, against the U.S Dollar, at the time of writing. | 0ce2ba78-e885-4247-b919-5a40e5b75980 |
709282.0 | 2019-03-12 00:00:00 UTC | Brexit and the Pound in the Spotlight – Parliament Could Vote for a No-Deal | DBO | https://www.nasdaq.com/articles/brexit-and-pound-spotlight-parliament-could-vote-no-deal-2019-03-12 | nan | nan | Earlier in the Day:
Stats released through the Asian session was on the lighter side this morning. Economic data was limited to March consumer sentiment figures out of Australia.
While the economic calendar was on the lighter side, the main event of the day was Parliament's vote on Theresa May's Brexit deal.
For the Aussie Dollar,
The Westpac-Melbourne Institute Index of Consumer Sentiment fell by 4.8% to 98.8 in March. The slide reversed February's 4.3% rise to 103.8.
There was plenty of red across the major sub-indexes for the month and when compared to March 2018.
The Economic Conditions next 12-months sub-index slid by 6.9% in March to take it into negative territory year-on-year.
Close behind, the family finances next 12-months sub-index fell by 5.9%. Family finances vs a year ago also saw a heavy slide, down by 5.6%.
With sentiment towards the next 12-months downbeat, the economic conditions next 5-years sub-index slid by 5.5%.
On the positive side, the time to buy a new dwelling sub-index rose by 3.5%. The upside came in spite of the house price expectations sub-index falling by 2.7%.
While 4 th quarter GDP numbers and concerns over the economic outlook weighed on the sub-indexes, a marked increase in the Unemployment Expectations Index will be a concern for the RBA. The index increased by 8.9 in March
The Aussie Dollar moved from $0.70714 to $0.70561 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7055, a loss of 0.38% for the session.
Elsewhere,
The Japanese Yen was up by 0.10% to ¥111.25, support coming off the back of pullback in risk appetite through the early part of the day. The negative sentiment weighed on the Kiwi Dollar, which was down 0.29% to $0.6841 at the time of writing.
The Day Ahead:
For the EUR
January industrial production figures are due out of the Eurozone that will provide the EUR with direction early on. Finalized February inflation numbers out of Spain will unlikely have an influence on the day.
Outside of the numbers, market risk sentiment will likely remain the key driver through the day.
At the time of writing, the EUR down 0.04% at $1.1283.
For the Pound
It was yet another dark day for Theresa May and British politics on Tuesday. Parliament shot down Theresa May's last-ditch effort to deliver a soft exit. In spite of the EU Referendum result and the intent of the British population to leave the EU, politicians seemingly have an altogether different agenda.
The question that remains is whether the very same members of parliament will plunge Britain into the abyss later today. A free vote is to take place later to decide on whether Britain will leave the EU without a deal. The vote comes ahead of an anticipated Thursday vote on whether to extend the 29 th March deadline. If today's vote goes against, there will be no vote on Thursday and the Pound will pay the price.
On theeconomic calendar the Annual Budget release and Spring Forecast Statement are expected though, with Brexit in a state of flux, even the Budget may fall on deaf ears.
At the time of writing, the Pound was up by 0.06% to $1.3083.
Across the Pond
It's back to the manufacturing sector. January durable goods orders and February wholesale inflation figures are due out later today. Forecasts are Dollar negative.
Following a string of weak economic indicators, today's figures could have a material impact on the Dollar.
Outside of the stats, geopolitical risk will be a factor to consider through the day. British Parliament will be voting on whether to leave the EU without a deal. If previous votes are anything to go by, there's just cause to expect a pickup in demand for U.S Treasuries through the day.
At the time of writing, the Dollar Spot Index was up by 0.06% to 96.997.
For the Loonie
There are no material stats scheduled for release, leaving the Loonie in the hands of crude oil and market risk sentiment.
Negative sentiment in the early part of the day weighed on the Loonie in spite of a pickup in crude oil prices . While there are no material stats, today's EIA crude oil inventory numbers could provide some direction later in the day.
The Loonie was down 0.10% at C$1.33367, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While the economic calendar was on the lighter side, the main event of the day was Parliament's vote on Theresa May's Brexit deal. Negative sentiment in the early part of the day weighed on the Loonie in spite of a pickup in crude oil prices . This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 13/03/19 AUD/USD and NZD/USD Fundamental Daily Forecast - Theresa May Defeat Pressures Kiwi AUD/USD Forex Technical Analysis - March 13, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Negative sentiment in the early part of the day weighed on the Loonie in spite of a pickup in crude oil prices . While there are no material stats, today's EIA crude oil inventory numbers could provide some direction later in the day. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 13/03/19 AUD/USD and NZD/USD Fundamental Daily Forecast - Theresa May Defeat Pressures Kiwi AUD/USD Forex Technical Analysis - March 13, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While the economic calendar was on the lighter side, the main event of the day was Parliament's vote on Theresa May's Brexit deal. Negative sentiment in the early part of the day weighed on the Loonie in spite of a pickup in crude oil prices . This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 13/03/19 AUD/USD and NZD/USD Fundamental Daily Forecast - Theresa May Defeat Pressures Kiwi AUD/USD Forex Technical Analysis - March 13, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While the economic calendar was on the lighter side, the main event of the day was Parliament's vote on Theresa May's Brexit deal. The index increased by 8.9 in March The Aussie Dollar moved from $0.70714 to $0.70561 upon release of the figures. British Parliament will be voting on whether to leave the EU without a deal. | 85a94ad6-311d-474d-8e52-5c28087cdf67 |
709283.0 | 2019-03-12 00:00:00 UTC | Brexit and Economic Data Put the Pound Front and Center | DBO | https://www.nasdaq.com/articles/brexit-and-economic-data-put-pound-front-and-center-2019-03-12 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side once more. The session kicked off with 1 st quarter manufacturing condition figures out of Japan. Out of Australia, new home loan figures and February business confidence numbers provided direction for the Aussie Dollar.
For the Japanese Yen,
The BSI Large Manufacturing Conditions Index fell from 5.5 to -7.3 points for the 1 st quarter. Forecasts were for the index to fall to 4.80 points.
A material slide was of little surprise considering recent trade and manufacturing PMI numbers out of Japan.
The Japanese Yen moved from ¥111.338 to ¥111.328 against the U.S Dollar, upon release of the figures. At the time of writing, the Yen was down 0.10% at ¥111.32.
For the Aussie Dollar,
New home loans fell by 2.4% in January. Following a revised 3.6% slide in December, forecasts were for a 2% decline.
According to figures released by the ABS ,
A 2.1% fall in lending for dwellings weighed on overall lending to households. Lending for investment dwellings tumbled by 4.1%, with lending for owner-occupied dwellings falling by 1.3%.
Year-on-year, new home loans is down 20%, which is the largest year-on-year slide since 2008.
Business confidence also took a hit in February. The NAB Business Confidence Index eased from +4points to +2 points. Forecasts were for the index to fall to +3 points.
According to the NAB Monthly Business Survey ,
In spite of the downward trend, the employment sub-index was reportedly resilient, as labor market demands lag economic activity.
The Business Conditions Index fell by 3 points to +4 points. The decline was attributed to a fall in the sub-indexes for profitability and for trading.
There were declines in forward-looking indicators, with capacity utilization also on a downward trend.
Across the industries, the retail sector continued to be the most negative, though the downward trend was broad-based in February.
The Aussie Dollar moved from $0.70666 to $0.70632 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7067, down by 0.04% for the session.
Elsewhere,
The Kiwi Dollar was on the move. At the time of writing, the Kiwi Dollar was up by 0.16% to $0.6841. Market risk appetite provided much-needed support, though a larger contribution would have come from monetary policy divergence in favor of the Kiwi.
The Day Ahead:
For the EUR
French non-farm payroll figures for the 4 th quarter are due out. Barring a material deviation from forecasts, we would expect the figures to be brushed aside later this morning.
Outside of the numbers and in spite of more disappointing data out of Germany on Monday, the risk-on sentiment is EUR positive. Additionally, concerns over a sharper slowdown in U.S growth than previously anticipated will provide some support to the EUR. U.S retail sales figures were positive for January, but a sharp downward revision to December sales figures raises a red flag on 4 th quarter growth.
Downside risk could come from an unexpected result to the Parliamentary vote on Brexit or negative news on trade talks.
At the time of writing, the EUR up by 0.06% at $1.1252.
For the Pound
It's B-Day for the Pound. Theresa May's deal, in whatever form, could be torn apart by Parliament later today. The day will culminate with a meaningful vote that is expected to throw out a deal and lead to an extension to 29 th March.
The Pound has been on a tear as news hits the wires of the British PM managing to negotiate changes to the previous deal. It remains to be seen whether the new deal is good enough for Parliament…
On the data front, it's a busy day ahead. GDP, industrial and manufacturing production and trade data are due out. While Brexit will be the key driver through the day, we can expect some influence from the numbers. Later this afternoon, the NIESR GDP figure will also need to be considered.
At the time of writing, the Pound was up by 0.40% to $1.3203.
Across the Pond
Inflation figures for February are due out later this afternoon. The Dollar could be in for a hammering if there are softer numbers. December's revised retail sales figures certainly raise the prospects of a more dovish FED. Softer inflation could push the chances of a rate hike back to the 4 th quarter, at the earliest.
At the time of writing, the Dollar Spot Index was down by 0.13% to 97.089.
For the Loonie
It's another quiet day on the economic calendar . There are no material stats scheduled for release, which can only be a good thing for the Loonie. A softer U.S Dollar has provided support to crude oil prices following news of the Saudis planning to cut production.
In spite of further gains in crude oil prices in the early hours of this morning, a particularly dovish BoC will likely limit the upside for the Loonie near-term.
The Loonie was down 0.06% at C$1.3402, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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Risk Appetite in Asia Surges as UK Prime Minister May Secures Brexit Assurances
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to the NAB Monthly Business Survey , In spite of the downward trend, the employment sub-index was reportedly resilient, as labor market demands lag economic activity. In spite of further gains in crude oil prices in the early hours of this morning, a particularly dovish BoC will likely limit the upside for the Loonie near-term. This article was originally posted on FX Empire More From FXEMPIRE: Stock Market Forecast - Technology and Energy Lead US Market Higher Pound Bouncing Strongly Before Tuesday's Voting Risk Appetite in Asia Surges as UK Prime Minister May Secures Brexit Assurances The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Out of Australia, new home loan figures and February business confidence numbers provided direction for the Aussie Dollar. U.S retail sales figures were positive for January, but a sharp downward revision to December sales figures raises a red flag on 4 th quarter growth. A softer U.S Dollar has provided support to crude oil prices following news of the Saudis planning to cut production. | Out of Australia, new home loan figures and February business confidence numbers provided direction for the Aussie Dollar. U.S retail sales figures were positive for January, but a sharp downward revision to December sales figures raises a red flag on 4 th quarter growth. This article was originally posted on FX Empire More From FXEMPIRE: Stock Market Forecast - Technology and Energy Lead US Market Higher Pound Bouncing Strongly Before Tuesday's Voting Risk Appetite in Asia Surges as UK Prime Minister May Secures Brexit Assurances The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | GDP, industrial and manufacturing production and trade data are due out. The Dollar could be in for a hammering if there are softer numbers. The Loonie was down 0.06% at C$1.3402, against the U.S Dollar, at the time of writing. | 4fb48c8b-ce14-4bf5-b247-ce353749a4c5 |
709284.0 | 2019-03-11 00:00:00 UTC | Brexit Weighs on the GBP as Focus Shifts to the USD and Retail Sales | DBO | https://www.nasdaq.com/articles/brexit-weighs-gbp-focus-shifts-usd-and-retail-sales-2019-03-11 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the lighter side this morning. Stats were limited to February electronic card retail sales figures out of New Zealand.
For the Kiwi Dollar,
Electronic card retail sales rose by 0.9% in February, following on from a 1.8% rise in January. According to figures released by NZStats ,
Spending rose in five of the six retail industries. Spending on groceries and liquor increased by 1% (NZ$19m). There were also sizeable increases in spending on fuel (+1.3%, NZ$7.4m) and hospitality (+0.7%, NZ$7.0m).
Spending on fuel came off the back of rising fuel prices.
The Kiwi Dollar moved from $0.67999 to $0.6792 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $6798, down 0.09% for the session.
Elsewhere,
The Japanese Yen stood at ¥111.14 against the U.S Dollar, up 0.03% for the session, while the Aussie Dollar was down by 0.14% to $0.7035.
In spite of the Dollar slide last Friday, there was support through the early morning. FED Chair Powell talked down the chances of a recession, whilst continuing to support the need for patience on policy.
The equity markets were able to brush off the dire NFP numbers from Friday. The CSI300 was up by 1.46% early on, with the Hang Seng and Nikkei up by 0.64% and by 0.21% respectively.
The Day Ahead:
For the EUR
German industrial production and trade data will provide direction to the EUR through the early part of the day. Following last week's dovish ECB press conference, another set of disappointing numbers could hit the EUR hard.
While the stats are skewed to the negative for the EUR, progress on trade talks between the U.S and China could spur risk appetite and much needed support for the EUR.
At the time of writing, the EUR down by 0.02% at $1.1233.
For the Pound
It's a big week ahead for the Pound. Tuesday's parliamentary vote on Theresa May's Brexit deal will be the first order of business. A vote to delay Brexit could be made as early as Thursday, assuming Theresa May gets hit with yet another parliamentary loss.
A lack of economic data will leave the Pound particularly sensitive throughout the day. A failure to garner concessions from the EU could also lead to another vote of no confidence. This time around, Theresa May could be less fortunate, though we would likely have to await the outcome of tomorrow's vote.
The failure to get the EU to make further concessions over the weekend will likely be negative for the Pound. Political uncertainty in the months ahead will likely add further pressure on the economy.
At the time of writing, the Pound was down by 0.32% to $1.2973.
Across the Pond
Retail sales and business inventory figures are due out this afternoon. While we can expect December business inventory numbers to provide some direction, the focus will be on January's retail sales figures.
A dire nonfarm payroll number for February will see the Dollar more sensitive to stats going into the week. The retail sales figures cover the period of the extended government shutdown. Forecasts are skewed in favor of the Dollar.
Outside of the stats, progress on the U.S - China trade talks could ease demand for the Greenback, though Brexit is also there to factor in.
At the time of writing, the Dollar Spot Index was up 0.11% to 97.414.
For the Loonie
There are no material stats to provide direction to the Loonie through the day. Market risk sentiment and crude oil prices will provide direction, though any support for the Loonie will likely be limited following last week's BoC outlook.
An early pickup in crude oil prices provided support but failed to pull the Loonie into positive territory against the Dollar in the early hours.
The Loonie was down 0.09% at C$1.3428, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | FED Chair Powell talked down the chances of a recession, whilst continuing to support the need for patience on policy. Market risk sentiment and crude oil prices will provide direction, though any support for the Loonie will likely be limited following last week's BoC outlook. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update - Strengthens Over $56.98, Weakens Under $56.58 EUR/USD Mid-Session Technical Analysis for March 11, 2019 Is the Bull Market Under Threat? | Stats were limited to February electronic card retail sales figures out of New Zealand. For the Kiwi Dollar, Electronic card retail sales rose by 0.9% in February, following on from a 1.8% rise in January. Market risk sentiment and crude oil prices will provide direction, though any support for the Loonie will likely be limited following last week's BoC outlook. | The Day Ahead: For the EUR German industrial production and trade data will provide direction to the EUR through the early part of the day. An early pickup in crude oil prices provided support but failed to pull the Loonie into positive territory against the Dollar in the early hours. The Loonie was down 0.09% at C$1.3428, against the U.S Dollar, at the time of writing. | While the stats are skewed to the negative for the EUR, progress on trade talks between the U.S and China could spur risk appetite and much needed support for the EUR. An early pickup in crude oil prices provided support but failed to pull the Loonie into positive territory against the Dollar in the early hours. The Loonie was down 0.09% at C$1.3428, against the U.S Dollar, at the time of writing. | 272277ba-ad08-4f48-8260-700d6b53a390 |
709285.0 | 2019-03-07 00:00:00 UTC | China Data Disappoints as Focus Shifts to NFP Data and the U.S Dollar | DBO | https://www.nasdaq.com/articles/china-data-disappoints-focus-shifts-nfp-data-and-us-dollar-2019-03-07 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the heavier side this morning. January household spending and 4 th quarter GDP numbers out of Japan kicked off the session. Later on in the morning, China's February's trade data was released.
For the Japanese Yen,
Household spending increased by 2% in January, year-on-year. Forecasts were for a 0.5% fall, following a 0.1% rise in December.
According to figures released by the Ministry of Internal Affairs and Communications ,
Notable increases in household spending were reported on housing (+18%) and education (+17.7%).
There were also sizeable increases in spending on transportation and communication (+6.1%); culture & recreation (+3.8%); furniture & household utensils (+3.6%).
Household spending on food increased by just 0.1% year-on-year.
Notable decreases in household spending were on fuel, light & water charges (-8.3%); medical care (-4.6%) and clothing & footwear (-4.1%).
Household incomes rose by 3.6% year-on-year, with disposable income rising by 3.9%, supporting the uptick in household spending.
Month-on-month, household spending rose by 0.7%, reversing the previous month's 0.1% decline.
The Japanese Yen moved from ¥111.585 to ¥111.623, against the U.S Dollar, upon release of the figures, which preceded the GDP numbers.
Japan's economy grew by 0.5% in the 4 th quarter, quarter-on-quarter. Forecasts were for a 0.4% rise, following a 1 st estimate 0.3% rise. The economy had shrunk by 0.7% in the previous quarter.
Year-on-year, the economy grew by 1.9%, which was better than a forecasted 1.8% and prelim 1.4%. The economy had contracted by 2.6% in the 3 rd quarter.
According to figures released by the Cabinet Office , notable contributions to growth include:
Private non-residential investment (business inv.) rose by 2.7%, which was better than a 1 st estimate 2.4% increase.
Both private and domestic demand figures were also revised upwards in the final numbers.
The Japanese Yen moved from ¥111.621 to ¥111.604, against the U.S Dollar, upon release of the figures. At the time of writing, the Japanese Yen stood at ¥111.4, up 0.16% for the session.
Out of China,
The trade surplus narrowed from $39.16bn to $4.12bn in February.
Dollar-denominated exports fell by 20.7%, which was worse than a forecasted 4.5% decline. In January, exports had risen by 9.1%.
Imports fell by 5.2%, which was worse than a forecasted 1.4% fall. Imports had fallen by 1.5% in January.
The Aussie Dollar moved from $0.70283 to $0.70133 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.70120, down 0.06% for the session.
The Day Ahead:
For the EUR
Key stats scheduled for release through the day are on the lighter side today. Germany's January factory order figures will provide the EUR with direction through the early part of the day. Forecasts are for a pickup in orders, though whether it will be enough to shift sentiment towards the Germany economy remains to be seen.
Outside of the numbers, market risk sentiment will have an influence as the markets continue to respond to Thursday's ECB press conference. This morning's trade figures out of China will likely limit any chance of any recovery from Thursday's sell-off
At the time of writing, the EUR up by 0.04% at $1.1197.
For the Pound
There are no material stats scheduled for release through the day to provide direction for the Pound. With the 12 th March meaningful vote rapidly approaching, all eyes will be on Brussels and parliament. It looks like Brussels is looking to test the British government's resolve.
While there had been hopes of support for Theresa May's deal on Tuesday, recent chatter suggests otherwise.
A no-deal outcome, however unlikely, remains the worst case scenario for both sides.
At the time of writing, the Pound was up by 0.06% to $1.3093.
Across the Pond
The economic calendar is on the busier side throughout the day. Key stats scheduled for release includes February's nonfarm payroll and wage growth figures. While the focus will be on the nonfarm payroll and wage growth figures, expect the Dollar to respond to any fall in the unemployment rate.
Outside of the numbers, chatter from the Oval Office will need to be monitored through the day.
At the time of writing, the Dollar Spot Index was down 0.10% to 97.566.
For the Loonie
February employment figures will provide direction to the Loonie through the day. A slide to $1.34 levels following the Bank of Canada's dovish outlook could continue if the numbers disappoint, however.
Forecasts are for the unemployment rate to fall from 5.8% to 5.7%, a positive for the Loonie. In contrast, employment is forecasted to fall, which would offset any upside for the Loonie.
Outside the stats, market risk sentiment and crude oil prices will provide direction, though sensitivity will depend upon this afternoon's numbers.
The Loonie was flat at C$1.3455, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | According to figures released by the Cabinet Office , notable contributions to growth include: Private non-residential investment (business inv.) Outside the stats, market risk sentiment and crude oil prices will provide direction, though sensitivity will depend upon this afternoon's numbers. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - EUR/USD To Continue Range Bound Action Below Mid -1.12 Handle Bitcoin - An Elusive $4,000 Opens the Door for the Bears Bitcoin And Ethereum Daily Price Forecast - Crypto Bulls Struggle To Break Free From Consolidation The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen, Household spending increased by 2% in January, year-on-year. Key stats scheduled for release includes February's nonfarm payroll and wage growth figures. While the focus will be on the nonfarm payroll and wage growth figures, expect the Dollar to respond to any fall in the unemployment rate. | According to figures released by the Ministry of Internal Affairs and Communications , Notable increases in household spending were reported on housing (+18%) and education (+17.7%). The Japanese Yen moved from ¥111.585 to ¥111.623, against the U.S Dollar, upon release of the figures, which preceded the GDP numbers. This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Price Forecast - EUR/USD To Continue Range Bound Action Below Mid -1.12 Handle Bitcoin - An Elusive $4,000 Opens the Door for the Bears Bitcoin And Ethereum Daily Price Forecast - Crypto Bulls Struggle To Break Free From Consolidation The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | January household spending and 4 th quarter GDP numbers out of Japan kicked off the session. For the Japanese Yen, Household spending increased by 2% in January, year-on-year. For the Loonie February employment figures will provide direction to the Loonie through the day. | 8cc22a1a-d155-4161-8ab6-95217c8cf46b |
709286.0 | 2019-03-05 00:00:00 UTC | China Economic Data Weighs as Focus Shifts to the EUR and the Dollar | DBO | https://www.nasdaq.com/articles/china-economic-data-weighs-focus-shifts-eur-and-dollar-2019-03-05 | nan | nan | Earlier in the Day:
The economic calendar for the Asian session this morning was on the lighter side. Key stats were limited to current account figures out Australia and China's service sector PMI.
Outside of the numbers, the RBA announced its March interest rate decision and released its rate statement.
Out of China, the National People's Congress began this morning that will also influence through the day.
For the Aussie Dollar,
The current account deficit narrowed from A$108bn to A$7.2bn in the 4 th quarter. The deficit was forecast to narrow to A$9.2bn. The figures were released by the ABS ,
The narrowing was attributed to an increase in the exports of goods and services in the quarter.
Exports of goods and services increased by A$3.676bn in the 4 th quarter, while the imports of goods and services rose by A$1.015bn.
The net primary income deficit narrowed by A$818m to A$15.318bn in the quarter.
The Aussie Dollar moved from $0.70819 to $0.70674 upon release of the figures. The moves came ahead of the RBA's monetary policy decision and rate statement release.
The RBA held rates unchanged at 1.5%, which was in line with market expectations. Of greater interest was the rate statement. Salient points from the RBA rate statement included:
The labor market remains strong and a further decline in unemployment is expected over the next couple of years.
An improving labor market should see a further lift in wage growth over time, though gradual.
Other indicators suggest growth slowed in the 2 nd half of 2018. Central scenario for growth this year remains at around 3%.
Main domestic uncertainty continues to be the strength of household consumption. A pickup in household income is expected to support spending over the next year.
Demand for credit by investors in the housing sector has slowed noticeably. Growth in credit extended to owner-occupiers has also eased.
Inflation remains low and stable. The central scenario is for underlying inflation to be 2% this year and 2.25% by 2020.
The Aussie Dollar moved from $0.70779 to $0.70763 upon the announcement of the policy decision and the release of the rate statement. At the time of writing, the Aussie Dollar stood at $0.7077, down by 0.21% for the session. The lack of suggestion of a possible rate cut failed to prop up the Aussie after another set of weak stats out of China.
Out of China,
The services PMI fell from 53.6 to 51.1 in February. The forecast was for a rise to 53.8. According to the Markit survey ,
Service sector activity was at its softest since October of last year.
A slower increase in new business weighed on the PMI. Service providers reported the least marked expansion of new orders since last October.
Service sector companies also reported that new export orders eased to a 5-month low.
In contrast to the manufacturing sector, service sector companies increased headcounts for a 5 th consecutive month.
Backlogs fell at the quickest pace since September 2015. The decline contributed to the first fall in unfinished business at the composite level for 3-years.
Operating expenses were on the rise in February, though the rate of increase was modest.
Service providers increased output prices only marginally.
The Aussie Dollar moved from $0.70819 to $0.70674 upon release of the figures.
Of greater influence to risk sentiment through the day will be any updates from the National People's Congress. Likely areas of focus will be trade, technology and plan to support domestic growth.
Elsewhere,
The Japanese Yen stood at ¥111.90, against the U.S Dollar, down by 0.13% for the session. The Kiwi Dollar tumbled by 0.38% to $0.6793 through the early part of the day.
Market risk aversion weighed through the Asian session. Concerns over the likely terms of a trade deal between the U.S and China weighed, following a pullback in the U.S equity markets on Monday.
Weak economic data out of China added to the doom and gloom in the early part of the day.
The Day Ahead:
For the EUR
It's a busier day ahead on the data front. Key stats due out of the Eurozone include finalized February service sector PMI numbers out of France, Germany, and the Eurozone. Spain and Italy's February services PMIs are also due out ahead of the finalized figures.
Later on in the morning, the Eurozone's January retail sales figures are also scheduled for release. Following some impressive figures out of Germany and France expectations are for retail sales to rebound. While the EUR will likely make a move on the release, the EUR may struggle to hold onto any gains ahead of Thursday's ECB policy decision and press conference.
While generally not considered a material stat, this morning's GDP numbers out of Italy will also be watched closely. Finalized figures could confirm a 2 nd quarterly contraction.
Outside of the numbers, sentiment towards ECB policy has pinned the EUR back and will likely continue to do so ahead of Thursday's press conference. Progress on trade talks and geopolitical risk across the region will also continue to be factors to consider.
The Italian coalition government sees the risk of a snap election on the rise. At a time when the EU's 3 rd largest economy is struggling, there is more for the ECB to be fretting over.
At the time of writing, the EUR down by 0.09% at $1.1330.
For the Pound
February service sector PMI figures will provide the Pound with direction later this morning. The manufacturing sector reported slower growth, with the construction sector contracting in February. Service sector activity will need to come in better than forecast for the Pound to avoid a pullback. The services sector is forecasted to contract in February.
Outside of the numbers, the BoE will release its FPC statement that is not expected to deliver too many surprises. Brexit discussions will remain the key driver barring initial responses to the stats and FPC statement.
At the time of writing, the Pound was down by 0.17% to $1.3158.
Across the Pond
The ISM non-Manufacturing PMI, scheduled for release later today, will provide direction. Forecasts are Dollar positive, though much will depend on risk sentiment through the day and, in particular, chatter from Capitol Hill.
February's finalized Markit Service sector PMI, by contrast, will unlikely influence. The Markit PMI will precede the ISM numbers.
December new home sales, which are scheduled for release alongside the ISM numbers, are forecasted to be Dollar negative. The Dollar will likely show little reaction to the numbers. Recent mortgage application figures have pointed to a pickup in activity, which should ease near-term negative sentiment towards the sector.
At the time of writing, the Dollar Spot Index was up 0.16% to 96.682.
For the Loonie
It's another quiet day on the data front. The Loonie is edging every close to tomorrow's Bank of Canada monetary policy decision. Expectations are for the BoC to take a more dovish outlook on growth, which would see the Loonie come under pressure mid-week.
We would expect the API crude oil inventory numbers to have a limited impact on the Loonie ahead of Wednesday's BoC meeting.
The Loonie was down 0.17% to C$1.3325, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Salient points from the RBA rate statement included: The labor market remains strong and a further decline in unemployment is expected over the next couple of years. Outside of the numbers, sentiment towards ECB policy has pinned the EUR back and will likely continue to do so ahead of Thursday's press conference. We would expect the API crude oil inventory numbers to have a limited impact on the Loonie ahead of Wednesday's BoC meeting. | Key stats were limited to current account figures out Australia and China's service sector PMI. Outside of the numbers, the RBA announced its March interest rate decision and released its rate statement. Key stats due out of the Eurozone include finalized February service sector PMI numbers out of France, Germany, and the Eurozone. | Key stats due out of the Eurozone include finalized February service sector PMI numbers out of France, Germany, and the Eurozone. For the Pound February service sector PMI figures will provide the Pound with direction later this morning. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Slide on Stronger Dollar and Negative Technicals Commodities Daily Forecast - March 5, 2019 GBP/USD Price Forecast - GBP/USD On Path For Steady Downside Move The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Out of China, The services PMI fell from 53.6 to 51.1 in February. The Day Ahead: For the EUR It's a busier day ahead on the data front. The Loonie was down 0.17% to C$1.3325, against the U.S Dollar, at the time of writing. | d5475cd7-c20f-493f-84ab-730d04ea5067 |
709287.0 | 2019-03-04 00:00:00 UTC | The Dollar Takes a Back Seat on Hopes of an End to the Trade War | DBO | https://www.nasdaq.com/articles/dollar-takes-back-seat-hopes-end-trade-war-2019-03-04 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning was on the lighter side. Key stats were limited to January building approvals and 4 th quarter gross company operating profits out of Australia.
For the Aussie Dollar,
Building approvals rose by 2.5% in January, month-on-month. Forecasts were for a 1.5% increase following December's revised 8.1% slide. According to the ABS ,
Private dwellings excluding houses rose by 2.7%. Private houses increased by 2.7%.
Non-residential building approvals rose by just 0.4%.
4 th quarter company gross operating profits increased by 0.8%, quarter-on-quarter. Profits fell short of a forecasted 3% increase and a 3 rd quarter 1.9% rise. According to the ABS ,
4 th quarter gross operating profits increased by 10.5% year-on-year.
The Aussie Dollar moved from $0.70982 to $0.70826 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7085, up by 0.08% for the session.
Elsewhere,
The Japanese Yen stood at ¥111.94, against the U.S Dollar, down by 0.0.4% for the session. The Kiwi Dollar rose by 0.13% to $0.6809 through the early part of the day.
Market risk sentiment provided direction through the Asian session. Support came from optimism on trade talks, though with a number of key central banks delivering monetary policy decisions and economic forecasts this week, it may not all be bells and whistles.
In the Asian equity markets, the CSI300 topped the Asian majors, up by 1.18%. The Nikkei and ASX200 closed out the day with 1.02% and 0.40% gains respectively. For the Hang Seng, a 0.74% gain ahead of the close was somewhat tempered. The index losing some of the upside gained from earlier in the day.
The Day Ahead:
For the EUR
After a hectic end to last week, it's a more sedate affair today. Key stats scheduled for release are limited to Spanish unemployment figures. Following an 83.5k increase last month, the numbers may well turn out to be on the lower side.
Outside of the numbers, we can expect chatter from the Oval Office to influence risk sentiment. The markets will also be looking ahead to this week's ECB policy decision and all-important press conference.
The big question is whether domestic consumption will be enough to offset negatives surrounding trade on which the Eurozone economy is heavily dependent. The only real hope for the EUR near-term has to be a pickup in market risk appetite. However, with Trump ready to unleash tariffs on EU goods, the upside can't be too significant.
At the time of writing, the EUR down by 0.02% at $1.1363.
For the Pound
Economic data due out this morning is limited to February construction PMI numbers. The near-term debate will be on whether the BoE will make a move on rates this year. While the probability of a rate hike has increased, it ultimately hangs on how Brexit unfolds over the next 10-days and beyond.
News over the weekend was in support of Theresa May and her Brexit deal. An alignment of the Tory party is a must if they are to retain power. The Labour Party are waiting in the wings and, in the event of 12 th March vote going against the deal, a vote of no confidence and an EU referendum could ensue.
Either way, the hope is that Britain will avoid a no-deal departure from the EU. Would the Pound really rally to $1.40 levels if Theresa May's deal gets thrown out and Parliament votes for an extension?
The Labour Party would certainly rain on economic growth prospects and that's never a good thing.
At the time of writing, the Pound was up by 0.31% to $1.3243.
Across the Pond
There are no material stats scheduled for release out of the U.S today. Following an action-packed week that had the U.S President up front and center, the focus will likely remain on trade talks, Mueller's investigation and whether the U.S President looks to drag the EU into the trade battlefield to detract from the Michael Cohen fallout.
At the time of writing, the Dollar Spot Index was down by 0.09% to 96.437. Sentiment towards trade talks weighed early on in the day.
For the Loonie
Following a dire day for the Loonie on Friday, crude oil prices will be the key driver as focus shifts to the Bank of Canada's policy decision and forward guidance on Wednesday.
A pickup in crude oil prices may not be enough going into Wednesday, however. A contraction in the economy in December will have the doves out in full force.
The Loonie was up by 0.04% to C$1.3292, against the U.S Dollar, at the time of writing. Early support came from a slight uptick in crude oil prices.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Support came from optimism on trade talks, though with a number of key central banks delivering monetary policy decisions and economic forecasts this week, it may not all be bells and whistles. The big question is whether domestic consumption will be enough to offset negatives surrounding trade on which the Eurozone economy is heavily dependent. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 04/03/19 Major China and the United States indexes are Vulnerable after a long rally EUR/USD Mid-Session Technical Analysis for March 4, 2019 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats were limited to January building approvals and 4 th quarter gross company operating profits out of Australia. 4 th quarter company gross operating profits increased by 0.8%, quarter-on-quarter. Support came from optimism on trade talks, though with a number of key central banks delivering monetary policy decisions and economic forecasts this week, it may not all be bells and whistles. | Support came from optimism on trade talks, though with a number of key central banks delivering monetary policy decisions and economic forecasts this week, it may not all be bells and whistles. For the Loonie Following a dire day for the Loonie on Friday, crude oil prices will be the key driver as focus shifts to the Bank of Canada's policy decision and forward guidance on Wednesday. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 04/03/19 Major China and the United States indexes are Vulnerable after a long rally EUR/USD Mid-Session Technical Analysis for March 4, 2019 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning was on the lighter side. Market risk sentiment provided direction through the Asian session. Sentiment towards trade talks weighed early on in the day. | 0c4096e7-1bbf-45ac-912d-8655b3f41241 |
709288.0 | 2019-02-27 00:00:00 UTC | Powell and the North Korea – U.S Summit Keep the USD in Focus | DBO | https://www.nasdaq.com/articles/powell-and-north-korea-us-summit-keep-usd-focus-2019-02-27 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the lighter side this morning. Key stats included January trade data out of New Zealand. Later in the morning, 4 th quarter construction work done figures were released out of Australia.
For the Kiwi Dollar,
The trade deficit widened from NZ$5,860m to NZ$6,360m in January, year-on-year. Forecasts were for a narrowing of the deficit to NZS5,496m According to figures released by NZ Stats :
For the month of January, the trade surplus fell from a revised NZ$12m to an NZ$914m deficit.
While both imports and exports were up compared with January 2018, imports rose at a greater pace.
In January 2019, exports rose by NZ$379m (7.7%) from January 2018 to reach NZ$5.3bn. Exports rose by NZ$128m (3.0%) to reach NZ$4.4bn.
The increase in imports was attributed to a rise in the import of commodities. Petroleum and product imports rose by NZ$81m to lead the way.
The rise in exports came from an NZ$167m increase in the exports of milk powder, butter, and
The Kiwi Dollar moved from $0.68917 to $0.68862 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.07% to $0.6893.
For the Aussie Dollar,
According to figures released by the ABS , 4 th quarter construction work done tumbled by 3.1%, quarter-on-quarter. Forecasts were for a 0.6% rise following a 3 rd quarter 2.8% fall.
Engineering work done fell by 5%, with residential work done down by 3.6% for the quarter.
Also on the slide was building work done, which fell by 1.7%.
Offsetting some of the downside was a 1.9% rise in non-residential work done.
Compared with the 4 th quarter of 2017, construction work done was down by 2.6%. A 7.8% slide in engineering work done weighed.
The Aussie Dollar moved from $0.71936 to $0.71875 upon release of the figures. At the time of writing, the Aussie Dollar was flat at $0.7186.
Elsewhere,
At the time of writing, the Japanese Yen was flat at ¥110.59, against the U.S Dollar. A pickup in risk appetite through the session pegged back the Yen on the day while providing support for the Kiwi Dollar and Aussie Dollar.
The Day Ahead:
For the EUR
February business confidence figures are scheduled for release out of the Eurozone. With economic indicators out of the Eurozone flashing red, the EUR could come under pressure should the numbers be in line with or worse than forecast.
Outside the numbers,
The Bundesbank's Weidmann will speak later this morning. As a member of the ECB, any dovish chatter will weigh on the EUR. The EUR may see little downside, however, as few expect any hawkish chatter from the ECB for now.
At the time of writing, the EUR down 0.11% at $1.1377.
For the Pound
Through the day, no material stats scheduled for release. The lack of stats has become a support mechanism for the Pound, which has been on the rise on hopes of a no-deal departure being averted.
For the British PM, Theresa May assured members of parliament that a vote on delaying Brexit or in favor of ruling out a no-deal departure would be on the table. The assurance came as the threat of more "Remainers" departing for the Independent group threatened any chance of the 12 th March meaningful vote getting through.
Interestingly, the British PM added that any deadline could only extend to June and would need to be a one-off. So, as things stand, a lack of support for the deal on 12 th March would lead to a 14 th March vote on delaying Brexit. In the event of parliament votes against a delay, Britain would then fall out of the EU without a deal. If the vote comes in favor of an extension, the British PM would then need to obtain the backing of all 27 member states.
There's certainly some choppy days ahead.
At the time of writing, the Pound was down by 0.08% at $1.3242.
Across the Pond
Economic data scheduled for release includes December factory order numbers and January pending home sales.
In spite of a string of disappointing stats out of the manufacturing sector, factory orders are forecasted to rebound in December. In contrast, pending home sales are forecasted to slide once more, which may pin back the Dollar later in the day.
Outside of the numbers, FED Chair Powell gives his second day of testimony to lawmakers. Despite a jump in consumer confidence, the Dollar was under pressure on Tuesday. Weak housing sector data and a dovish FED Chair did the damage.
Gains the early part of this morning come ahead of the U.S - North Korean Summit in Vietnam. While Trump will be looking to deliver progress on denuclearization, friction on Capitol Hill continues and needs to be monitored.
At the time of writing, the Dollar Spot Index was up by 0.13% to 96.129.
For the Loonie
After a quiet start to the week, economic data scheduled for release includes January inflation figures. We can expect the Loonie to be particularly sensitive to the numbers later today.
Outside of the numbers, risk sentiment and today's weekly EIA crude oil inventory numbers will also provide direction.
The Loonie was flat at C$1.3169, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the British PM, Theresa May assured members of parliament that a vote on delaying Brexit or in favor of ruling out a no-deal departure would be on the table. Across the Pond Economic data scheduled for release includes December factory order numbers and January pending home sales. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 27/02/19 USD/CAD Daily Price Forecast - CAD Erased Early Loss On Crude Oil Price Rebound Barrick's Gold Rush for Newmont The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Across the Pond Economic data scheduled for release includes December factory order numbers and January pending home sales. For the Loonie After a quiet start to the week, economic data scheduled for release includes January inflation figures. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash - ABC, Litecoin and Ripple Daily Analysis - 27/02/19 USD/CAD Daily Price Forecast - CAD Erased Early Loss On Crude Oil Price Rebound Barrick's Gold Rush for Newmont The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Forecasts were for a narrowing of the deficit to NZS5,496m According to figures released by NZ Stats : For the month of January, the trade surplus fell from a revised NZ$12m to an NZ$914m deficit. The rise in exports came from an NZ$167m increase in the exports of milk powder, butter, and The Kiwi Dollar moved from $0.68917 to $0.68862 upon release of the figures. For the Aussie Dollar, According to figures released by the ABS , 4 th quarter construction work done tumbled by 3.1%, quarter-on-quarter. | Later in the morning, 4 th quarter construction work done figures were released out of Australia. Forecasts were for a 0.6% rise following a 3 rd quarter 2.8% fall. For the British PM, Theresa May assured members of parliament that a vote on delaying Brexit or in favor of ruling out a no-deal departure would be on the table. | 6277973e-3bf1-47ce-9bc1-93ee5637224c |
709289.0 | 2019-02-27 00:00:00 UTC | 4th Quarter GDP Numbers, Powell and Trade Talk Keep the Dollar in View | DBO | https://www.nasdaq.com/articles/4th-quarter-gdp-numbers-powell-and-trade-talk-keep-dollar-view-2019-02-27 | nan | nan | Earlier in the Day:
Economic data release was on the heavier side through the Asian session. Key stats included January industrial production and retail sales figures out of Japan and January business confidence figures out of New Zealand. Later in the morning, 4 th quarter private CAPEX and January private sector credit figures were released. The stats were rounded off with the all-important private sector PMI numbers out of China.
For the Japanese Yen,
Industrial production tumbled by 3.7% in January, according to prelim figures. The slide was worse than a forecasted 2.4% decline. In December, industrial production fell by 0.1%.
According to figures released by the Ministry of Economy, Trade and Industry ,
Industries that mainly contributed to the decrease were:
Motor vehicles; electrical machinery and information and communication electronics equipment; and production machinery.
Industries that mainly contributed to an increase were:
Transport equipment (excl. motor vehicles); inorganic and organic chemicals; and petroleum and coal products.
Retail sales increased by 0.6%, year-on-year, in January, falling short of a forecasted 1.4% rise. Sales in December rose by 1.3%. According to figures released by the Ministry of Economy, Trade and Industry , sales fell by 2.3% month-on-month.
The Japanese Yen moved from ¥110.887 to ¥110.883, against the Dollar, upon release of the figures. At the time of writing, the Japanese Yen stood at ¥110.84, up by 0.14% for the session.
For the Kiwi Dollar,
The ANZ Business Confidence Index fell from -24.1 to -30.9 in January. According to figures released by ANZ ,
A net 31% of respondents expected general business conditions to worsen in the year ahead.
Firms' expectations of their own activity eased by 3 points to a net 11% expecting an improvement in conditions.
Employment intentions fell 4 points to +3%. A net 2% of firms are expecting to increase investments, down by 2 points.
Profit expectations fell by 5 points to a net 11% expecting a decline in profits. All sectors were in the red.
The Kiwi Dollar moved from $0.68511 to $0.68399 upon release of the data. At the time of writing, the Kiwi Dollar was down by 0.10% to $0.6841.
For the Aussie Dollar,
Private new capital expenditures rose by 2% in the 4 th quarter, quarter-on-quarter. In the 3 rd quarter, new CAPEX had fallen by 0.5%. Forecasts were for a 1.1% increase. According to figures released by the ABS ,
New capital expenditure on buildings and structures rose by 3.2%. Expenditures on equipment, plant and machinery rose by just 0.7%
Year-on-year, total new CAPEX rose by 1.9%. New CAPEX on buildings and structures fell by 2.9%. By contrast, new CAPEX on equipment, plant and machinery surged by 8.1%.
Private sector new credit increased by 0.2% in January, month-on-month, falling short of a forecasted 0.3% rise. In December, private sector new credit also rose by 0.2%. According to figures released by the RBA ,
Housing credit rose by 0.2%, easing up from a 0.3% increase in December.
Personal credit fell by 0.6%, falling further from a 0.4% decline in December.
Business credit increased by 0.3%, rising at the same pace as in the previous month.
Year-on-year, total credit rose by 4.3%, easing from a 4.9% rise in January of last year.
Personal credit slid by 2.8%, year-ending January 2019. In the year ending January 2018, personal credit fell by 1.1%.
Business credit rose by 5.2%, accelerating from a 3.3% increase the previous year.
Housing credit increased by 4.4% in the year ending January 2019. Housing credit had risen by 6.3% in the year ending January 2018.
The Aussie Dollar moved from $0.71936 to $0.71875 upon release of the figures, which preceded China's private sector PMIs.
Out of China
The NBS Manufacturing PMI fell from 49.5 to 49.2 in February. Forecasts were for the PMI to hold steady at 49.5.
The non-manufacturing PMI fell from 54.7 to 54.3 in February, falling beyond a forecasted 54.5.
Hopes of the non-manufacturing sector picking up the slack were dashed, with the pace of growth easing in February. The manufacturing sector contracted for a 3 rd consecutive month after having stalled in October and November.
According to the figures released by the NBS, the PMI fell to its lowest level in 2-years.
The Aussie Dollar moved from $0.71540 to $0.71454 upon release of the figures. At the time of writing, the Aussie Dollar was up 0.06% to $0.7142.
The Day Ahead:
For the EUR
French consumer spending and 2 nd estimate, 4 th quarter GDP numbers will provide direction for the EUR in the early part of the session.
Through the European session, prelim February inflation numbers out of France, Germany, Italy, and Spain are also scheduled for release.
Barring deviation from 1 st estimate numbers, we would expect the inflation numbers to provide direction for the EUR through the day.
Outside of the numbers, risk sentiment will continue to play a hand in the EUR's direction. Any more dovish chatter from FOMC members and the FED Chair could prop up the EUR in spite of the weak economic outlook.
At the time of writing, the EUR up by 0.07% at $1.1378.
For the Pound
It's another quiet day on the economic data front.
The lack of stats remains a positive for the Pound. Prospects of a no deal Brexit continue to diminish as members of Parliament look to prevent the unthinkable. Uncertainty remains, but for now, the can has been kicked down the road. Key dates are 12 th March and 14 th March, with few expecting Britain to be out of the EU on 29 th .
Brexit chatter will remain the key driver through the day.
At the time of writing, the Pound was down by 0.06% at $1.3301.
Across the Pond
It's a big day for the Greenback. 4 th quarter GDP figures will provide direction for the Dollar through the early part of the day. Other stats scheduled for release in the early part of the session include the weekly jobless claims, and Chicago's February PMI. Influence of the secondary data will depend on the 4 th quarter GDP numbers.
Outside of the data FED Chair Powell and FOMC member's Clarida, Bostic and Harker are scheduled to speak.
FED Chair Powell and FOMC member Clarida are first up, with FED chair Powell the key driver. The speech is scheduled ahead of the 4 th quarter GDP numbers and could ultimately overshadow the stats, barring betting than expected figures.
At the time of writing, the Dollar Spot Index was up down by 0.06% to 96.095.
For the Loonie
January's RMPI will provide the Loonie with direction in the early afternoon. While forecasted to be Loonie positive, crude oil prices and market risk sentiment will likely remain the key drivers through the day.
The Loonie was up by 0.02% to C$1.3154, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other stats scheduled for release in the early part of the session include the weekly jobless claims, and Chicago's February PMI. The speech is scheduled ahead of the 4 th quarter GDP numbers and could ultimately overshadow the stats, barring betting than expected figures. While forecasted to be Loonie positive, crude oil prices and market risk sentiment will likely remain the key drivers through the day. | Key stats included January industrial production and retail sales figures out of Japan and January business confidence figures out of New Zealand. Later in the morning, 4 th quarter private CAPEX and January private sector credit figures were released. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Drop as Yields Rise on Energy Inflation Fears 4th Quarter GDP Numbers, Powell and Trade Talk Keep the Dollar in View U.S GDP Numbers Could Shock as the Trade War Wages On The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Key stats included January industrial production and retail sales figures out of Japan and January business confidence figures out of New Zealand. Later in the morning, 4 th quarter private CAPEX and January private sector credit figures were released. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Drop as Yields Rise on Energy Inflation Fears 4th Quarter GDP Numbers, Powell and Trade Talk Keep the Dollar in View U.S GDP Numbers Could Shock as the Trade War Wages On The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Later in the morning, 4 th quarter private CAPEX and January private sector credit figures were released. In December, industrial production fell by 0.1%. Private sector new credit increased by 0.2% in January, month-on-month, falling short of a forecasted 0.3% rise. | 77c1c37b-c10f-4389-9594-054841b29243 |
709290.0 | 2019-02-26 00:00:00 UTC | Theresa May and FED Chair Powell Keep the GBP and USD in Focus | DBO | https://www.nasdaq.com/articles/theresa-may-and-fed-chair-powell-keep-gbp-and-usd-focus-2019-02-26 | nan | nan | Earlier in the Day:
There were no material stats scheduled for release through the Asian session this morning. The lack of data left the markets to consider what lies ahead for the day while responding to the market moves through the U.S session.
At the time of writing, the Kiwi Dollar was down by 0.04% to $0.6881. 4 th quarter retail sales figures, released on Monday, provided support to the RBNZ's outlook on economic growth for the current year. Throw in the prospects of a U.S - China trade agreement and the bulls will be eyeing $0.700 levels should all go to plan.
For the Aussie Dollar, it was deeper into the red. A number of dovish forecasts on the monetary policy front from the start of the week weighed. At the time of writing, the Aussie Dollar was down 0.18% at $0.7154. Whether China's economy can turn it around off the back of a trade agreement may be wishful thinking. Economic indicators are beginning to flash red in a number of economies at the turn of the year.
Risk appetite at the start of the week had pinned back the Japanese Yen. At the time of writing, the Japanese Yen stood at ¥110.82, up 0.22% against the U.S Dollar, as risk sentiment deteriorated early on.
The Day Ahead:
For the EUR
Economic data scheduled for release is limited to March consumer climate figures out of Germany. Forecasts are for consumer sentiment to weaken for March. Economic indicators out of Germany have been far from impressive. Further weakness in the numbers could begin to take its toll on the EUR once the risk on moves has filtered through from trade negotiations.
Outside of the data, ECB's Mersch is scheduled to speak later in the day. Some chatter over the possibility of a shift in forward guidance on policy will make the EUR particularly sensitive to member commentary. The combination of a worsening economic outlook and more dovish ECB suggests a slide through $1.12 levels is imminent should output not pick up going into the 2 nd quarter.
At the time of writing, the EUR down 0.01% at $1.1357.
For the Pound
It's another quiet day on the economic data front. Economic data scheduled for release is limited to gross mortgage approvals. The mortgage approval figures are likely to be brushed aside by the markets. The focus will continue to be on Brexit. Interestingly, the Labour Party have said that they would back a 2 nd referendum.
If British PM fails to bring an acceptable deal to the table, Jeremy Corbyn may find himself at number 10 off the back of a no-confidence vote and snap election.
Aside from Brexit, today's inflation hearings and BoE FPC meeting will also garner some attention.
At the time of writing, the Pound was up by 0.23% at $1.3127.The upside comes on hopes that Britain would avoid a no-deal departure from the EU.
Across the Pond
It's a big day for the Greenback. Economic data scheduled for release includes December housing sector numbers and February consumer confidence figures.
On the data front, we would expect the focus to be on the consumer confidence numbers, forecasted to be Dollar positive.
Outside of the numbers, FED Chair Powell's testimony will be the key driver for the U.S Dollar. The testimony to the Senate Banking Committee has had a history of influence on the Dollar. This time around, the focus will likely be on how the FED plans to bring an end to the balance sheet sell-down. Additionally, for how long the FED will need to remain patient on rates will also influence.
Economic indicators have continued to raise red flags. Any raised concerns over the U.S economic outlook and expect safe haven demand to pick up.
While Powell will be doing all the talking, U.S President Trump could be doing all the tweeting. Trump's attitudes towards the FED suggests that any hints of an extended pause will be well received. On the flip side, expect some negative tweets should Powell raise concerns over the economic outlook.
At the time of writing, the Dollar Spot Index was down by 0.02% to 96.397.
For the Loonie
It's another quiet day on the economic data front. While risk appetite supported riskier assets, crude oil prices slumped at the start of the week. Trump's Tweeter did all the damage, leading to a 3.1% slide in WTI and a 3.5% slide in Brent on Monday. Trump's Tweet "Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike - fragile!"
The slide in oil prices weighed on the Loonie, which ended Monday with a 0.4% loss against the Dollar.
BoC Governor Poloz won't be thanking the U.S President anytime soon for the Tweet, with the reversal in crude oil prices have led to a shift in monetary policy.
For the day ahead, we can expect crude oil prices to remain the key driver. This evening's API numbers and market risk sentiment will likely be of influence.
The Loonie was down 0.10% to C$1.3200, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 4 th quarter retail sales figures, released on Monday, provided support to the RBNZ's outlook on economic growth for the current year. If British PM fails to bring an acceptable deal to the table, Jeremy Corbyn may find himself at number 10 off the back of a no-confidence vote and snap election. BoC Governor Poloz won't be thanking the U.S President anytime soon for the Tweet, with the reversal in crude oil prices have led to a shift in monetary policy. | The Day Ahead: For the EUR Economic data scheduled for release is limited to March consumer climate figures out of Germany. For the day ahead, we can expect crude oil prices to remain the key driver. This article was originally posted on FX Empire More From FXEMPIRE: Theresa May and the Gravity Defying Pound Natural Gas Price Fundamental Daily Forecast - Testing Weekly Resistance Zone at $2.812 to $2.871 Oil Price Fundamental Daily Forecast - Will Trump Follow-Up Bearish Comments with a Threat? | The Day Ahead: For the EUR Economic data scheduled for release is limited to March consumer climate figures out of Germany. On the data front, we would expect the focus to be on the consumer confidence numbers, forecasted to be Dollar positive. This article was originally posted on FX Empire More From FXEMPIRE: Theresa May and the Gravity Defying Pound Natural Gas Price Fundamental Daily Forecast - Testing Weekly Resistance Zone at $2.812 to $2.871 Oil Price Fundamental Daily Forecast - Will Trump Follow-Up Bearish Comments with a Threat? | The Day Ahead: For the EUR Economic data scheduled for release is limited to March consumer climate figures out of Germany. At the time of writing, the EUR down 0.01% at $1.1357. Trump's Tweet "Oil prices getting too high. | d46ed38e-0e5f-408b-af78-c30dbba55469 |
709291.0 | 2019-02-23 00:00:00 UTC | Brexit and Trade Talk Overshadowed the Stats and Central Banks in the Week | DBO | https://www.nasdaq.com/articles/brexit-and-trade-talk-overshadowed-stats-and-central-banks-week-2019-02-23 | nan | nan | The Dollar
Thursday proved to be a moment of truth for the Dollar and the U.S economy.
A mixed view of the FOMC meeting minutes released on Wednesday left the data to do the talking on Thursday.
The Philly FED Manufacturing Index slid into negative territory for the first time since May 2016. On the durable goods orders for December, whilst overall orders rose by 1.2%, the more influential goods orders non-defense ex-air fell by 0.7%, following a 1% fall in November.
Further evidence of a weakening manufacturing sector came from a fall in the U.S Manufacturing PMI , from 54.9 to 53.7. According to prelim figures, a 17-month low was attributed to softer demand. Concerns over global trade and the economic growth outlook and adverse weather conditions weighed in the month.
In spite of the slowdown in manufacturing sector activity, service sector activity saw its sharpest pickup in activity since June 2018. The Service sector PMI rose from 54.2 to 56.2 in February, according to prelim figures. While demand waned across the manufacturing sector, the services sector saw the strongest rise in incoming new work since September 2018.
The ongoing trade war between the U.S and China has made the markets particularly sensitive to manufacturing data. The reality is, however, that the services sector now accounts for around 80% of the U.S economy. With the broader manufacturing sector continuing to see growth and service sector activity picking up, a 0.42% slide in the U.S Dollar Index ("DXY") last week had little to do with the numbers. The FED's relatively optimistic outlook on the economy was justified, as were the downside risks stemming from the ongoing trade war that was reflected in the manufacturing sector numbers.
The EURO,
Looking across to the Eurozone, the manufacturing sector contracted, while support from the services sector led to a rise in the composite , from 51.0 to 51.4. Unlike the U.S, the Eurozone's economy is far more reliant on the manufacturing sector. A continued contraction in Germany's manufacturing sector will continue to be the red flag for the bloc's economy.
The EUR gained 0.35% against the U.S Dollar last week. Economic data alone would have placed the EUR under significant pressure. Risk sentiment and updates from the U.S - China trade talks provided the direction throughout the week.
A pickup in risk appetite weighed on the Dollar and the Japanese Yen through the week. The Japanese Yen fell by a further 0.2% to leave it down by 1.65% against the U.S Dollar for the current month.
For the Japanese Yen, stats through the week included December's machinery orders , January's trade data , prelim February Manufacturing PMI numbers, and January inflation figures . If there had been concerns over the outlook for the Japanese economy going into the week, the sentiment would have deteriorated further by the end of the week. Dire trade data, a fall in core machinery orders and a contraction in the manufacturing sector added to the doom and gloom.
The latest numbers and lackluster inflation suggests significantly more support is going to be needed to offset slowing demand. Bank of Japan Governor Kuroda spoke of the BoJ's willingness to further ease monetary policy. The need may already be evident…
Brexit,
For the Pound, Brexit continued to be the key driver through the week. The Pound rallied by 1.27% against the Greenback for the week. The gains came in spite of some relatively disappointing employment figures released in the week.
A parliamentary rebellion continued, which led to the creation of the Independent Party. With the British government having failed to improve "The Deal", the prospects of a no-deal departure appear to have diminished. At a minimum, hopes are of a delay to the departure date. The ever-optimistic "pro-remains" will be hoping for a 2 nd EU Referendum. Such hopes supported the Pound through the week.
The Rest,
Elsewhere, the Aussie Dollar and Kiwi Dollar failed to make ground. The Aussie Dollar ended the week down 0.17%, with the Kiwi Dollar down by 0.32%. The losses came in spite of progress on trade talks between the U.S and China.
News of one of China's ports banning the import of coal from Australia certainly didn't help the cause for the pair. The downside, however, was more likely to be as a result of a shift in sentiment towards monetary policy. Concerns over the outlook for growth near-term continue to be a common topic of discussion across a number of central banks. While the RBNZ has remained upbeat, the RBA's more negative cautions outlook weighed in the week.
For the Loonie, a further rise in crude oil prices provided much-needed support. The Loonie ended the week up 0.82% against the Greenback. The upside came in spite of disappointing December retail sales figures released on Friday.
Risk appetite from progress on trade talks and the impact on crude oil prices remained the key driver. The upside continued to be pinned back, however. Concerns over the global economic outlook and the Bank of Canada's stance on monetary policy limit the upside.
This article was originally posted on FX Empire
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Brexit and Trade Talk Overshadowed the Stats and Central Banks in the Week
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The FED's relatively optimistic outlook on the economy was justified, as were the downside risks stemming from the ongoing trade war that was reflected in the manufacturing sector numbers. Dire trade data, a fall in core machinery orders and a contraction in the manufacturing sector added to the doom and gloom. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Rebound From Support Forming Continuation Pattern Trade Deal Hopes Support Crude, Gold, While Cold Forecasts Encourage Natural Gas Shorts to Cover Brexit and Trade Talk Overshadowed the Stats and Central Banks in the Week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The EURO, Looking across to the Eurozone, the manufacturing sector contracted, while support from the services sector led to a rise in the composite , from 51.0 to 51.4. For the Japanese Yen, stats through the week included December's machinery orders , January's trade data , prelim February Manufacturing PMI numbers, and January inflation figures . This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Rebound From Support Forming Continuation Pattern Trade Deal Hopes Support Crude, Gold, While Cold Forecasts Encourage Natural Gas Shorts to Cover Brexit and Trade Talk Overshadowed the Stats and Central Banks in the Week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | With the broader manufacturing sector continuing to see growth and service sector activity picking up, a 0.42% slide in the U.S Dollar Index ("DXY") last week had little to do with the numbers. For the Japanese Yen, stats through the week included December's machinery orders , January's trade data , prelim February Manufacturing PMI numbers, and January inflation figures . This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction - Prices Rebound From Support Forming Continuation Pattern Trade Deal Hopes Support Crude, Gold, While Cold Forecasts Encourage Natural Gas Shorts to Cover Brexit and Trade Talk Overshadowed the Stats and Central Banks in the Week The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Japanese Yen, stats through the week included December's machinery orders , January's trade data , prelim February Manufacturing PMI numbers, and January inflation figures . If there had been concerns over the outlook for the Japanese economy going into the week, the sentiment would have deteriorated further by the end of the week. Such hopes supported the Pound through the week. | fe08dfe2-b352-4792-9819-4e4b19c423a8 |
709292.0 | 2019-02-21 00:00:00 UTC | A Packed Economic Calendar Puts the EUR and USD in the Spotlight | DBO | https://www.nasdaq.com/articles/packed-economic-calendar-puts-eur-and-usd-spotlight-2019-02-21 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included January employment figures out of Australia and prelim February manufacturing PMI numbers out of Japan.
For the Aussie Dollar,
According to the figures released by the ABS ,
The number of employed rose by 39.1k in January, coming in ahead of a forecasted 15.2k increase, following December's 21.6k rise.
Full employment surged by 65.4k in the month, following a 3.0k decrease in December.
The unemployment rate held steady at 5.0% in January, while the participation rate rose from 65.6% to 65.7%.
Part-time employment declined by 26.3k, reversing a 24.6k increase in December.
Since January 2018, full-time employment increased by 236.1k, while part-time employment has risen by just 35.2k.
The Aussie Dollar moved from $0.71650 to $0.72038 upon release of the minutes. At the time of writing, the Aussie Dollar stood at $0.7161, down by 0.06% for the session.
For the Japanese Yen,
Japan's manufacturing sector hit the brakes in February, according to February's prelim Manufacturing PMI .
The manufacturing PMI slid from 50.3 to a 32-month low 48.5. Looking at the components of the PMI,
New orders decreased at a faster pace, with output also falling at a faster pace in February. While new export orders decreased at a slower pace, Japan's latest trade figures and the slide in demand from China suggests that there may be more trouble ahead. The U.S administration could make things a little more challenging should tariffs be rolled out on autos.
The Japanese Yen moved from ¥110.720 to ¥110.719 against the Dollar upon release of the figures. At the time of writing, the Japanese Yen stood at ¥110.78, up 0.06% for the session.
Elsewhere,
At the time of writing, the Kiwi Dollar was down by 0.21% to $0.6849. The losses come in spite of the risk-on sentiment through the early part of the day, U.S Dollar strength off the back of the FOMC meeting minutes release on Wednesday, weighed early on.
The Day Ahead:
For the EUR
It's a particularly busy day ahead on the economic calendar . Key stats scheduled for release include prelim February private-sector PMI numbers out of France, Germany, and the Eurozone and finalized inflation numbers out of France, Germany, and Italy.
On the data front, EUR sensitivity to the manufacturing numbers will be heightened as economic indicators across major markets raise more red flags.
Outside of the numbers, the ECB's monetary policy meeting minutes will also be released later in the day that will likely be in stark contrast to the FED's outlook on growth. While the minutes will be a reminder of the ECB's dovish outlook on growth, updates from ongoing trade negotiations between the U.S and China would likely limit any downside from the ECB's dovishness.
At the time of writing, the EUR up by 0.11% at $1.1350.
For the Pound
There are no material stats scheduled for release through the day. Brexit will remain the area of focus as British Prime Minister Theresa May looks to resolve the backstop issue that has become the bone of contention on both sides of La Manche.
The clock is ticking and pressure on the Pound could begin to build should there be a lack of progress.
At the time of writing, the Pound was down by 0.03% at $1.3046.
Across the Pond
It's a busy day ahead for the Greenback. Key stats scheduled for release include December durable goods orders, February private-sector PMI numbers for Philly and the U.S, the weekly jobless claims figures and January existing home sales numbers.
Following a relatively upbeat outlook on U.S economic growth, in spite of a string of softer numbers out of the U.S of late, today's figures will provide more evidence on where the economy is heading. There will be nowhere for the Dollar to hide this afternoon, with all of the data expected to have an impact.
We would expect the Durable goods orders, Philly Fed Manufacturing PMI, the prelim service sector PMI and the weekly jobless claims figures to have the greatest impact, however.
Outside of the numbers, FOMC member Bostic is scheduled to speak, who will unlikely have too much influence with the slew of data due out shortly after.
At the time of writing, the Dollar Spot Index was up 0.02% to 96.472, with today's stats and Trump to provide direction through the day.
For the Loonie
Economic data scheduled for release is limited to December wholesale sales figures this afternoon. While we can expect the Loonie to respond to the data, forecasted to be Loonie positive, risk sentiment and impact on crude oil prices will likely be of greater influence through the day.
Outside of the data, Bank of Canada Poloz is scheduled to speak later in the day. Any monetary policy chatter could pin back the Loonie, the BoC having recently joined the doves on the policy front.
The Loonie was up by 0.906% to C$1.3168, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: Economic data released through the Asian session this morning included January employment figures out of Australia and prelim February manufacturing PMI numbers out of Japan. Brexit will remain the area of focus as British Prime Minister Theresa May looks to resolve the backstop issue that has become the bone of contention on both sides of La Manche. Following a relatively upbeat outlook on U.S economic growth, in spite of a string of softer numbers out of the U.S of late, today's figures will provide more evidence on where the economy is heading. | Key stats scheduled for release include prelim February private-sector PMI numbers out of France, Germany, and the Eurozone and finalized inflation numbers out of France, Germany, and Italy. Key stats scheduled for release include December durable goods orders, February private-sector PMI numbers for Philly and the U.S, the weekly jobless claims figures and January existing home sales numbers. We would expect the Durable goods orders, Philly Fed Manufacturing PMI, the prelim service sector PMI and the weekly jobless claims figures to have the greatest impact, however. | Earlier in the Day: Economic data released through the Asian session this morning included January employment figures out of Australia and prelim February manufacturing PMI numbers out of Japan. For the Aussie Dollar, According to the figures released by the ABS , The number of employed rose by 39.1k in January, coming in ahead of a forecasted 15.2k increase, following December's 21.6k rise. Key stats scheduled for release include December durable goods orders, February private-sector PMI numbers for Philly and the U.S, the weekly jobless claims figures and January existing home sales numbers. | Earlier in the Day: Economic data released through the Asian session this morning included January employment figures out of Australia and prelim February manufacturing PMI numbers out of Japan. For the Aussie Dollar, According to the figures released by the ABS , The number of employed rose by 39.1k in January, coming in ahead of a forecasted 15.2k increase, following December's 21.6k rise. The Loonie was up by 0.906% to C$1.3168, against the U.S Dollar, at the time of writing. | 649d5d16-c8cc-4ac2-96ed-8b7cddecbf91 |
709293.0 | 2019-02-21 00:00:00 UTC | Brexit, Trade Talk and Economic Data out of the Eurozone in Focus Today | DBO | https://www.nasdaq.com/articles/brexit-trade-talk-and-economic-data-out-eurozone-focus-today-2019-02-21 | nan | nan | Earlier in the Day:
January inflation figures out of Japan were the only material stats released through the Asian session this morning.
Outside of the numbers, RBA Governor Lowe gave testimony to the House of Representatives Standing Committee on Economics.
For the Japanese Yen,
The annual rate of core inflation picked up from 0.7% to 0.8% in January, which was in line with forecast.
Figures released by the Ministry of Internal Affairs and Communications also revealed that consumer prices rose by 0.3% in January, month-on-month. The rise in prices reversed a 0.2% fall in December.
In spite of the uptick, core inflation continues to sit well below the BoJ's target. Further monetary policy easing could be on the cards, as the Japanese economy struggles on amidst the ongoing trade war between the U.S and China.
The Japanese Yen moved from ¥110.678 to ¥110.684 against the Dollar upon release of the figures. At the time of writing, the Japanese Yen stood at ¥110.79, down by 0.08% for the session.
For the Aussie Dollar,
RBA Governor Lowe gave testimony to the House of Representatives Standing Committee on Economics.
Salient points from the initial statement published on the RBA website included:
The central scenario is for GDP growth of around 3% for this year and 2.75% for 2020. The numbers are lower than those expected at the previous hearing in August.
Labour market conditions have performed better than expected. The unemployment rate is expected to move lower to around 4.75% over the next couple of years.
Inflation has come in lower than expected. By 2020, inflation is forecasted to reach 2.25%.
The economy is benefitting from increased spending on infrastructure and a pickup in private investment. Strong growth in jobs is also supporting spending, as is the sustained low level of interest rates.
There are 2 major areas of risk globally that the RBA continues to monitor.
Political risk: Includes trade and technology tensions between the U.S and China; Brexit; the rise of populism; and the strains in some Western European economies.
The Chinese economy. Growth has slowed by more than the government had been expecting.
Domestically, the Board has been monitoring household spending and developments in the housing market.
The underlying trend in consumption is softer, impacting growth. Weaker consumption was attributed to:
A protracted period of relatively low growth in aggregate household income. Since 2016, aggregate disposable income has grown at an average rate of around 2.75% per year. Down from 6% over the preceding decade.
A decline in housing prices in the largest cities.
Forecasts are for disposable income to increase and wages are rising more quickly in almost all industries.
The change in outlook for consumption has caused the Board to revise its outlook on policy to take a more neutral stance.
In spite of the neutral position, the Board still expects to make further progress towards its goals.
As was the case 6-months ago, there is no strong case for a near-term change in the cash rate.
While there was very little in the initial speech to catch the markets off-guard, news of Chinese port Dalian banning the import of coal from Australia did some damage in the session. Lowe looked to reassure investors over the ban, stating that a port ban on Australian coal would have no 'dramatic effect' on the economy.
The Aussie Dollar moved from $0.70953 to $0.70906 during the early part of an extended speech. At the time of writing, the Aussie Dollar stood at $0.7091, down by 0.01% for the session.
Elsewhere,
At the time of writing, the Kiwi Dollar was down by 0.49% to $0.6768, the reversal coming off the back of the China ban on Australian coal imports.
The Day Ahead:
For the EUR
It's another relatively busy day on the economic calendar . Key stats scheduled for release include finalized 4 th quarter GDP numbers and February business sentiment numbers out of Germany and finalized January inflation figures for the Eurozone.
Barring a deviation from prelim GDP numbers out of Germany, we would expect the business sentiment and the Eurozone's month-on-month consumer price move to be the key drivers from the data perspective. Forecasts are skewed to the negative for the EUR.
Outside of the numbers, market risk sentiment will continue to be the main driver. Trade talks between the U.S and China will be in focus through the day.
Later in the day, ECB President Draghi will be speaking, with yesterday and today's stats likely to give good reason to maintain the dovish tones that continue to peg back the EUR.
At the time of writing, the EUR down by 0.03% at $1.1333.
For the Pound
It's another quiet day on the data front. Brexit chatter will provide direction, with no material stats scheduled for release to distract the markets from Brexit.
Hopes of a delay to Britain departing the EU continues to provide near-term support. In a normal world, the political environment in the UK would be sinking the Pound, as members of both sides of the leading political parties shift allegiances to the newly created Independent Group.
The British government failed to make progress in Brussels on Thursday and time is running out for the British PM. Theresa May will need to show progress next week else face the prospect of losing control of the Brexit process.
There will be one last chance, as both sides of met again next week in a bid to salvage the deal.
At the time of writing, the Pound was down by 0.12% at $1.3028.
Across the Pond
It's a quiet day on the data front, with no material stats scheduled for release out of the U.S.
The focus will be on U.S - China trade talks, with any commentary from the Oval Office also needing consideration.
On the policy front, FOMC Member Williams will be speaking later today. Following some disappointing stats out of the U.S on Thursday, any dovish comments could put the Dollar back under pressure.
At the time of writing, the Dollar Spot Index was up 0.04% to 96.642.
For the Loonie
December retail sales figures will be released this afternoon. Core retail sales numbers will be the key driver, which are forecasted to be Loonie negative.
Outside of the numbers, market risk sentiment and impact on crude oil prices will continue to be the key driver. The markets will be looking for more positive news from trade talks between the U.S and China
The Loonie was down 0.06% to C$1.3240, against the U.S Dollar, at the time of writing, a pullback in crude oil prices weighing early on in the day.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Barring a deviation from prelim GDP numbers out of Germany, we would expect the business sentiment and the Eurozone's month-on-month consumer price move to be the key drivers from the data perspective. Later in the day, ECB President Draghi will be speaking, with yesterday and today's stats likely to give good reason to maintain the dovish tones that continue to peg back the EUR. The markets will be looking for more positive news from trade talks between the U.S and China The Loonie was down 0.06% to C$1.3240, against the U.S Dollar, at the time of writing, a pullback in crude oil prices weighing early on in the day. | Outside of the numbers, RBA Governor Lowe gave testimony to the House of Representatives Standing Committee on Economics. For the Aussie Dollar, RBA Governor Lowe gave testimony to the House of Representatives Standing Committee on Economics. Key stats scheduled for release include finalized 4 th quarter GDP numbers and February business sentiment numbers out of Germany and finalized January inflation figures for the Eurozone. | Key stats scheduled for release include finalized 4 th quarter GDP numbers and February business sentiment numbers out of Germany and finalized January inflation figures for the Eurozone. The markets will be looking for more positive news from trade talks between the U.S and China The Loonie was down 0.06% to C$1.3240, against the U.S Dollar, at the time of writing, a pullback in crude oil prices weighing early on in the day. This article was originally posted on FX Empire More From FXEMPIRE: Stock Market Forecast - Stocks Drop Led Lower by Energy Shares USD/JPY Fundamental Daily Forecast - FOMC Members Will Set the Tone on Friday Natural Gas Price Prediction - Prices Rise on Surprise Inventory Draw The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Growth has slowed by more than the government had been expecting. Key stats scheduled for release include finalized 4 th quarter GDP numbers and February business sentiment numbers out of Germany and finalized January inflation figures for the Eurozone. The markets will be looking for more positive news from trade talks between the U.S and China The Loonie was down 0.06% to C$1.3240, against the U.S Dollar, at the time of writing, a pullback in crude oil prices weighing early on in the day. | 2e21cdb0-7fbc-4597-a144-5ddb445f5182 |
709294.0 | 2019-02-21 00:00:00 UTC | Central Banks – Who is the Most Dovish of them All? | DBO | https://www.nasdaq.com/articles/central-banks-who-most-dovish-them-all-2019-02-21 | nan | nan | The FED and the Bank of Canada,
The FOMC meeting minutes were released on Wednesday and, in stark contrast to the influence of minutes and central bank commentary from elsewhere, the Dollar didn't sink.
In recent months, there's been a material shift in monetary policy across a number of central banks, including the FED, though the direction of the Dollar and Treasury yields suggest that there's not been as much as a shift as some suggest.
The swings in the Dollar and U.S equity markets through the U.S session on Wednesday came from the markets being drip fed the minutes. In the end, while the general consensus was that the minutes maintained a hawkish bias, talk of needing to remain patient on resuming rate hikes was all that the markets wanted to hear.
In stark contrast to the FED's decision to pause on rate hikes, we have seen the RBA and the ECB take a far gloomier outlook and, when considering recent economic data released out of China and the Eurozone, there's certainly just cause for the shift.
Neighbouring Bank of Canada was left with little choice but to change its stance on the policy front. In spite of Canada, Mexico and the U.S wrapping up trade negotiations, sliding crude oil prices have weighed on the BoC and any prospects of a rate hike anytime soon.
Bank of Canada Governor Poloz is scheduled to speak later today. Having slashed economic growth forecasts in January, there's unlikely to be any upbeat commentary from Poloz when considering economic data released out of Canada since the 9 th January monetary policy statement .
Moving Eastwards
For the ECB, the asset purchasing program may have come to an end, but what remains are negative deposit rates and all-time low-interest rates that sit at zero. ECB President Draghi's 8-year term at the end of the ECB is rapidly coming to an end. While Draghi will have hoped for an opportunity to lift rates from historic lows, particularly disappointing economic data suggests that the ECB will be holding deposit and interest rates at current levels through the year. A reintroduction of the asset purchasing program and negative interest rates may also be needed should economic conditions deteriorate further.
Stats out of the EU economic powerhouse Germany have certainly raised material concerns over the outlook, leading to the EU Commission and the ECB to slash growth forecasts. A rollout of tariffs on auto imports into the U.S would add fuel to the fire. All of this comes at a time when the Chinese economy appears to be growing at a slower pace than disappointing GDP numbers suggest.
With China in the doldrums and looking to negotiate its way out of the trade war with the U.S, the RBA has also fallen into the dove trap. The RBA monetary policy meeting minutes released earlier in the week stated that the probability of a rate hike or rate cut were evenly balanced. Just a few months ago, optimism over the economic outlook had led the RBA to indicate that the next move would be up.
The RBA has also cut its growth forecasts and, with wage growth remaining tepid and house prices on the slide, the Aussie Dollar is beginning to slide. The slide comes as the markets begin to consider a possible rate cut later in the year.
Unsurprisingly, the Bank of Japan is high on the dove list. Just earlier in the week, BoJ Governor Kuroda spoke in Parliament, stating that further monetary policy easing would be delivered if deemed necessary. Well, when viewing the latest trade figures, core machinery orders and this morning's flash manufacturing PMI number, that moment may have already arrived…
The Hawk
With the Bank of England and Governor Carney's hands tied as Britain struggles to negotiate its way favorably out of the EU, alongside a relatively optimistic FED is the RBNZ.
In spite of the ongoing trade war between the U.S and China and slower economic growth out of China, the RBNZ delivered a surprisingly hawkish outlook on economic growth. The confidence in growth was not enough to shift its language on the likely next move, which remains either up or down, but taking the confidence in isolation, up looked more likely than down at the time of the statement.
The Kiwi Dollar rallied from $0.67275 to $0.68216 through the release of the statements and the RBNZ press conference and has recovered to $0.68 levels, following the 2 nd week of February dip. Whether the optimism remains is another question, however.
While a resolution to the U.S - China trade war would certainly support the more optimistic, the damage has already been done if economic data is anything to go by.
Today's private sector PMI numbers out of the Eurozone and the U.S will provide further guidance on where the respective economies are heading in the 1 st quarter. If January's numbers and today's forecasts are anything to go by, the FED's standing as the most hawkish of the central banks seems justified.
The RBNZ may be the hawk from an outlook perspective, but continuing to suggest that rates could go up or down places the Central Bank behind the FED going into today's session.
As for the BoC, BoJ, ECB, and the RBA, the Bank of Japan will likely be leading the doves for some time to come.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the end, while the general consensus was that the minutes maintained a hawkish bias, talk of needing to remain patient on resuming rate hikes was all that the markets wanted to hear. In stark contrast to the FED's decision to pause on rate hikes, we have seen the RBA and the ECB take a far gloomier outlook and, when considering recent economic data released out of China and the Eurozone, there's certainly just cause for the shift. Well, when viewing the latest trade figures, core machinery orders and this morning's flash manufacturing PMI number, that moment may have already arrived… The Hawk With the Bank of England and Governor Carney's hands tied as Britain struggles to negotiate its way favorably out of the EU, alongside a relatively optimistic FED is the RBNZ. | Having slashed economic growth forecasts in January, there's unlikely to be any upbeat commentary from Poloz when considering economic data released out of Canada since the 9 th January monetary policy statement . The RBA monetary policy meeting minutes released earlier in the week stated that the probability of a rate hike or rate cut were evenly balanced. In spite of the ongoing trade war between the U.S and China and slower economic growth out of China, the RBNZ delivered a surprisingly hawkish outlook on economic growth. | In stark contrast to the FED's decision to pause on rate hikes, we have seen the RBA and the ECB take a far gloomier outlook and, when considering recent economic data released out of China and the Eurozone, there's certainly just cause for the shift. In spite of the ongoing trade war between the U.S and China and slower economic growth out of China, the RBNZ delivered a surprisingly hawkish outlook on economic growth. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis - February 21, 2019 Forecast Price of Gold Fundamental Daily Forecast - Weakens on Fed Rate Hike Concerns EUR Climbs Higher The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In stark contrast to the FED's decision to pause on rate hikes, we have seen the RBA and the ECB take a far gloomier outlook and, when considering recent economic data released out of China and the Eurozone, there's certainly just cause for the shift. Having slashed economic growth forecasts in January, there's unlikely to be any upbeat commentary from Poloz when considering economic data released out of Canada since the 9 th January monetary policy statement . The RBNZ may be the hawk from an outlook perspective, but continuing to suggest that rates could go up or down places the Central Bank behind the FED going into today's session. | a059073c-32ec-47cd-8692-c713234d92ee |
709295.0 | 2019-02-19 00:00:00 UTC | The RBA Pins back the Aussie as the Focus Shifts to the Pound | DBO | https://www.nasdaq.com/articles/rba-pins-back-aussie-focus-shifts-pound-2019-02-19 | nan | nan | Earlier in the Day:
There were no material stats released through the Asian session this morning, leaving the news wires and risk sentiment to continue to drive the markets through the early part of the day.
While there were no material stats, the RBA released its monetary policy meeting minutes from 5 th February's meeting, which had delivered a more dovish statement than the markets had anticipated.
For the Aussie Dollar,
The RBA monetary policy meeting minutes included the following salient points:
Trade tensions were a material risk to the outlook for global growth.
Downside risk to the global economy had increased.
Mining investment is expected to begin contributing to growth after being a drag over the last 6 years.
The outlook for domestic consumption was uncertain, attributed to falling house prices and weak retail sales growth.
House prices have fallen by around 8%, after having risen by around 50% r to a peak in September 2017.
Growth in China had slowed more than the most recent GDP numbers suggested.
Members noted that it would be appropriate to hold the cash rate steady and for the Bank to be a source of stability and confidence.
Members also noted that the probability of increasing or decreasing the cash rate was more evenly balanced. Over the preceding year, an increase in the cash rate had been more likely.
The Aussie Dollar moved from $0.71288 to $0.71206 upon release of the minutes. At the time of writing, the Aussie Dollar stood at $0.7113, down 0.24% for the session.
Elsewhere,
The Kiwi Dollar stood at $0.6833 at the time of writing, a loss of 0.22% for the morning. The Japanese Yen was flat at ¥110.62, against the Dollar. The Yen gave up early gains following some dovish comments from BoJ Governor Kuroda early on in the day. The BoJ Governor had spoken in Parliament stating that further monetary policy easing would be delivered if deemed necessary.
The Day Ahead:
For the EUR
Following a quiet start to the week, on the data front, February economic sentiment figures out of Germany and the Eurozone will be in focus later this morning.
The focus will be on Germany's economic sentiment figure that is forecast to be EUR negative. Concerns over the economic outlook for Germany and the Eurozone continue to pin the EUR back and today's figure will provide further color ahead of Thursday's private sector PMI numbers.
Outside of the political arena, sentiment towards the U.S - China trade talks will influence risk sentiment through the day.
At the time of writing, the EUR up by 0.10% at $1.1300.
For the Pound
Economic data scheduled for release include December's avera ge earnings figures and the unemployment rate, which will be released alongside February's claimant count figures.
While any shift in the unemployment rate will influence, the focus will be on average earnings and claimant count numbers. Economic data out of the UK has been mixed of late, but with Brexit continuing to leave the markets uncertain over what lies ahead, downside figures will likely have more of a lasting impact than positive numbers.
Outside of the stats, Brexit chatter will need to be monitored through the day.
At the time of writing, the Pound was down by 0.15% at $1.2905.
Across the Pond
There are no material stats scheduled for release, leaving the focus on Capitol Hill and Beijing. Updates from the Oval Office and Beijing on trade talks will be a key influence, while chatter from Congress about the "Wall" and the state of emergency source of funding will also be a consideration.
Economic data out of the U.S was disappointing last week, putting the Dollar on the back foot. FOMC member Mester, scheduled to speak this afternoon, could put more pressure on should there be any suggestions of the FED needing to hold rates steady through the year.
At the time of writing, the Dollar Spot Index was up by 0.01% to 96.912.
For the Loonie
As the markets reopen following Monday's holiday, risk sentiment and influence on crude oil prices will provide direction through the day. There are no material stats scheduled for release to impact.
The Loonie was down by 0.13% to C$1.3257, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - February 19, 2019 Forecast
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, The RBA monetary policy meeting minutes included the following salient points: Trade tensions were a material risk to the outlook for global growth. Concerns over the economic outlook for Germany and the Eurozone continue to pin the EUR back and today's figure will provide further color ahead of Thursday's private sector PMI numbers. Economic data out of the UK has been mixed of late, but with Brexit continuing to leave the markets uncertain over what lies ahead, downside figures will likely have more of a lasting impact than positive numbers. | For the Aussie Dollar, The RBA monetary policy meeting minutes included the following salient points: Trade tensions were a material risk to the outlook for global growth. For the Pound Economic data scheduled for release include December's avera ge earnings figures and the unemployment rate, which will be released alongside February's claimant count figures. This article was originally posted on FX Empire More From FXEMPIRE: Brexit, the Pound and the Political Chaos S&P 500 Price Forecast - stock market closed, futures market quiet E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - February 19, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats released through the Asian session this morning, leaving the news wires and risk sentiment to continue to drive the markets through the early part of the day. For the Pound Economic data scheduled for release include December's avera ge earnings figures and the unemployment rate, which will be released alongside February's claimant count figures. This article was originally posted on FX Empire More From FXEMPIRE: Brexit, the Pound and the Political Chaos S&P 500 Price Forecast - stock market closed, futures market quiet E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis - February 19, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the Day: There were no material stats released through the Asian session this morning, leaving the news wires and risk sentiment to continue to drive the markets through the early part of the day. Outside of the political arena, sentiment towards the U.S - China trade talks will influence risk sentiment through the day. For the Pound Economic data scheduled for release include December's avera ge earnings figures and the unemployment rate, which will be released alongside February's claimant count figures. | 39ca6aa9-a804-4939-9d90-f059e781b616 |
709296.0 | 2019-02-19 00:00:00 UTC | Japan Trade Woes Continue as Focus Shifts to the USD and the FED | DBO | https://www.nasdaq.com/articles/japan-trade-woes-continue-as-focus-shifts-to-the-usd-and-the-fed-2019-02-19 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included 4 th quarter producer input price figures out of New Zealand, January trade data out of Japan and 4 th quarter wage growth numbers out of Australia.
For the Kiwi Dollar,
According to figures released by NZ Stats , Producer input prices rose by 1.6% in the 4 th quarter of last year, with inputs rising from the previous quarter's 1.4%.
The rise in input prices was attributed to a jump in electricity prices in the quarter. Fewer resources had been available through the quarter to generate electricity, leading to the sharpest increase in electricity prices since 2008.
Prices paid by electricity and gas supply producers rose by 23% in the 4 th Commercial electricity prices for business increased by 8.2% in the quarter.
Electricity prices for dairy farms increased by 6.1% over the quarter, with prices for all farms rising by 5.1%.
In spite of the jump in electricity prices, the increased cost was not passed onto households, resulting in a 0.2% fall in consumer prices in the 4 th
Output prices saw a more modest increase of just 0.8%, muting the effect of the jump in input prices on the Kiwi Dollar.
The Kiwi Dollar moved from $0.68821 to $0.68827 upon release of the figures. At the time of writing, the Kiwi Dollar stood at $0.6872, down by 0.16% for the morning.
For the Japanese Yen,
The trade deficit widened from ¥57bn to ¥1,415bn in January, according to figures released by the Ministry of Finance .
Exports slumped by 8.4% year-on-year, which was worse than a forecasted 5.5% fall. Exports had fallen by 3.9% in December, compared with the year prior.
Exports to China tumbled by 17.4% and by 21.2% to Hong Kong.
By contrast, exports to the U.S rose by 6.8%, which may well put Japan back under the scrutiny of the U.S administration.
Imports fell by just 0.6%, which was better than a forecasted 2.8% decline. In December, imports had risen by 1.9%.
The Japanese Yen moved from ¥110.636 to ¥110.623 against the Dollar upon release of the figures, with exports seeing the largest year-on-year fall since late 2016. At the time of writing, the Japanese Yen stood at ¥110.78, down 0.14% for the session.
For the Aussie Dollar,
In the 4 th quarter, wages rose by 0.5%, quarter-on-quarter, which was weaker than a forecasted and 3 rd quarter 0.6% increase.
According to the figures released by the ABS ,
Over the year, wages grew by 2.3%. Public sector wages continued to outpace private sector wages, growing by 2.5%. Private sector wages rose by 2.3%.
While public sector wages outpaced public sector wage growth for the 4 th year, the pace of private sector wage growth was the highest since the final quarter of 2014.
The Aussie Dollar moved from $0.71679 to $0.71571 upon release of the minutes. At the time of writing, the Aussie Dollar stood at $0.7164, down by 0.01% for the session.
The Day Ahead:
For the EUR
Economic data scheduled for release this morning includes January wholesale inflation numbers out of Germany. Later in the day, February prelim consumer confidence figures for the Eurozone are also scheduled for release.
Barring a surprise pickup in inflationary pressures, we would expect the focus to be on the consumer confidence numbers due out late into the European session.
On the monetary policy front, the ECB's Praet is scheduled to speak ahead of the European open this morning.
Away from the economic calendar , market risk sentiment will continue to influence. Progress on trade talks will be the positive, whilst concerns over the outlook for growth are expected to be negative for the EUR.
At the time of writing, the EUR up by 0.04% at $1.1345.
For the Pound
Economic data is limited to February's CBI Industrial Trend Orders. While we will expect the Pound to respond to the number, the Pound will continue to remain in the hands of Brexit chatter as both the Tories and the opposition party face the prospects of party members walking out the door.
The British PM is back to Brussels today in a bid to resolve the backstop issue. We can expect the Pound to be particularly sensitive to any chatter through the day.
At the time of writing, the Pound was down by 0.02% at $1.3060.
Across the Pond
It's another quiet day on the economic calendar, with no material stats scheduled for release. While there are no stats scheduled for release, the FOMC meeting minutes will garner plenty of attention and could pin back the Dollar further.
Following Monday's holiday, trade resumed and the markets will likely receive further updates in the coming days. With few expecting a resolution to the trade war this week, an extension to the 1 st March deadline will need to be a minimum to support market risk sentiment.
At the time of writing, the Dollar Spot Index was down by 0.01% to 96.513.
For the Loonie
It's another day free of economic data out of Canada, leaving the Loonie in the hands of risk sentiment and direction of crude oil prices .
While the Loonie will respond to the weekly EIA crude oil inventory numbers, updates on trade talks will likely remain the key driver near-term.
The Loonie was up by 0.11% to C$1.3196, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR Economic data scheduled for release this morning includes January wholesale inflation numbers out of Germany. Barring a surprise pickup in inflationary pressures, we would expect the focus to be on the consumer confidence numbers due out late into the European session. While the Loonie will respond to the weekly EIA crude oil inventory numbers, updates on trade talks will likely remain the key driver near-term. | Earlier in the Day: Economic data released through the Asian session this morning included 4 th quarter producer input price figures out of New Zealand, January trade data out of Japan and 4 th quarter wage growth numbers out of Australia. While public sector wages outpaced public sector wage growth for the 4 th year, the pace of private sector wage growth was the highest since the final quarter of 2014. The Day Ahead: For the EUR Economic data scheduled for release this morning includes January wholesale inflation numbers out of Germany. | Earlier in the Day: Economic data released through the Asian session this morning included 4 th quarter producer input price figures out of New Zealand, January trade data out of Japan and 4 th quarter wage growth numbers out of Australia. In spite of the jump in electricity prices, the increased cost was not passed onto households, resulting in a 0.2% fall in consumer prices in the 4 th Output prices saw a more modest increase of just 0.8%, muting the effect of the jump in input prices on the Kiwi Dollar. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin And Ethereum Daily Price Forecast - Trade Volume Hits Multi-Month High's Hinting at Continued Positive Price Action E-mini S&P 500 Index ( ES ) Futures Technical Analysis - Dovish Minutes Could Spike Index Higher USD/CAD Daily Price Forecast - USD/CAD Continues Range Bound Action Amid Lack of Macro Data Updates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For the Aussie Dollar, In the 4 th quarter, wages rose by 0.5%, quarter-on-quarter, which was weaker than a forecasted and 3 rd quarter 0.6% increase. According to the figures released by the ABS , Over the year, wages grew by 2.3%. The Day Ahead: For the EUR Economic data scheduled for release this morning includes January wholesale inflation numbers out of Germany. | 44217a9b-9d90-400b-9abb-029c4442ad0d |
709297.0 | 2019-02-15 00:00:00 UTC | Retail Sales and Brexit Keep the Pound Front and Center | DBO | https://www.nasdaq.com/articles/retail-sales-and-brexit-keep-pound-front-and-center-2019-02-15 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included January's business PMI numbers out of New Zealand, January inflation figures out of China and finalized December industrial production numbers out of Japan.
For the Kiwi Dollar,
The Business PMI slipped from 55.1 to 53.1 in January, according to figures released by Business NZ .
Looking at the PMI's components
The New Orders sub-index slid from 55.2 to 52.2. The production index also took a hit, falling from 54.9 to 51.1.
Also weighing on the headline number were the finished stocks sub-index, which fell from 59 to 54.8 and deliveries, which fell from 58.6 to 53.8.
Only the employment sub-index held steady at 52.2 in February.
In spite of the decline, the PMI sits just shy of the long-run average of 53.4, though there will need to be more progress on trade talks between the U.S and China for the sector to avoid further declines.
The Kiwi Dollar moved from $0.68332 to $0.6831 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.16% to $0.6826
Out of China,
According to figures released by the National Bureau of Statistics , the annual rate of inflation softened from 1.9% to 1.7% in January. Forecasts were for the rate of inflation to hold at 1.9%. Month-on-month, consumer prices rose by 0.5%, which was in line with forecasts. The softer inflation figures were attributed to a decline in food prices.
Wholesale inflation was of greater concern. Wholesale prices rose by just 0.1%, year-on-year, coming in below a forecasted 0.3% rise and December's 0.9% increase.
The Aussie Dollar moved from $0.70946 to $0.70839 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7090, down by 0.23% for the session.
For the Japanese Yen,
Industrial production fell by 0.1% in December according to the Ministry of Economy, Trade, and Industry . Which was in line with prelim figures. In November, industrial production had fallen by 1%.
Upon release of the figures, the Japanese Yen moved from ¥110.310 to ¥110.296, against the Dollar. At the time of writing, the Yen stood at ¥110.34, up 0.13% for the session.
The Day Ahead:
For the EUR
Economic data scheduled for release includes finalized January inflation figures out of Spain and December trade data for the Eurozone.
Barring a material deviation from prelim figures, the greatest influence will likely come from today's trade data, which could be EUR positive if Germany's trade figures are anything to go by.
Following weaker than expected GDP numbers out of Germany for the 4 th quarter, any upside in the EUR may be capped, however, as economic indicators continue to raise red flags.
Outside of the numbers, updates from trade talks between the U.S and China will continue to influence risk appetite and the EUR through the day.
At the time of writing, the EUR down by 0.09% at $1.1285.
For the Pound
Economic data scheduled for release includes January retail sales figures. While forecasts are for a rise in sales, the numbers would need to be on the higher side to make a dent into December's slump and give the Pound some much-needed support.
Outside the numbers, we can expect Brexit chatter to continue to impact following Theresa May's latest loss in Parliament.
At the time of writing, the Pound was down by 0.03% at $1.2799.
Across the Pond
Stats scheduled for release are on the heavier side through the day. The focus will be on January's retail sales and prelim consumer sentiment figures. Early support for the Dollar could come from February manufacturing numbers out of NY Stats, headline number needing to be in line with or better than forecast.
Outside of the numbers, we can expect updates from trade talks to influence market risk sentiment. From the Oval Office a bill, passed by Congress overnight, is awaiting Trump's signature to avert another government shutdown.
At the time of writing, the Dollar Spot Index was down by 0.09% to 97.067.
For the Loonie
There are no material stats scheduled for release through the day, leaving the Loonie in the hands of market risk sentiment and the influence of U.S - China trade talks on crude oil prices .
The Loonie was down by 0.08% to C$1.3306, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the time of writing, the Kiwi Dollar was down by 0.16% to $0.6826 Out of China, According to figures released by the National Bureau of Statistics , the annual rate of inflation softened from 1.9% to 1.7% in January. Following weaker than expected GDP numbers out of Germany for the 4 th quarter, any upside in the EUR may be capped, however, as economic indicators continue to raise red flags. This article was originally posted on FX Empire More From FXEMPIRE: Stock Market Forecast - Late Session Rebound is a Positive Sign Despite Lackluster Retail Sales Crude Oil Price Update - WTI Divergence with Brent Indicates Weakness AUD/USD Forex Technical Analysis - February 15, 2019 Forecast The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Day Ahead: For the EUR Economic data scheduled for release includes finalized January inflation figures out of Spain and December trade data for the Eurozone. For the Pound Economic data scheduled for release includes January retail sales figures. For the Loonie There are no material stats scheduled for release through the day, leaving the Loonie in the hands of market risk sentiment and the influence of U.S - China trade talks on crude oil prices . | Earlier in the Day: Economic data released through the Asian session this morning included January's business PMI numbers out of New Zealand, January inflation figures out of China and finalized December industrial production numbers out of Japan. At the time of writing, the Kiwi Dollar was down by 0.16% to $0.6826 Out of China, According to figures released by the National Bureau of Statistics , the annual rate of inflation softened from 1.9% to 1.7% in January. The Day Ahead: For the EUR Economic data scheduled for release includes finalized January inflation figures out of Spain and December trade data for the Eurozone. | At the time of writing, the Kiwi Dollar was down by 0.16% to $0.6826 Out of China, According to figures released by the National Bureau of Statistics , the annual rate of inflation softened from 1.9% to 1.7% in January. Outside of the numbers, updates from trade talks between the U.S and China will continue to influence risk appetite and the EUR through the day. For the Pound Economic data scheduled for release includes January retail sales figures. | bdd46ce4-6eea-4ac5-95da-8413293ec9ca |
709298.0 | 2019-02-11 00:00:00 UTC | Carney and Powell Could Deliver More Swings in the GBP and USD | DBO | https://www.nasdaq.com/articles/carney-and-powell-could-deliver-more-swings-gbp-and-usd-2019-02-11 | nan | nan | Earlier in the Day:
Economic data released through the Asian session this morning included electronic card retail sales figures out of New Zealand, and new home loan sales and business confidence figures out of Australia.
For the Kiwi Dollar,
According to figures released by NZ Stats , card sales rose by 1.8%, month-on-month, in January. Reversing most of December's 2.3% slide, the figure also came in ahead of a forecasted 1.4% increase.
Sales were driven by spending on durables, which increased by 5.1%. The increase reversed a 4.2% slide in December.
Spending increased in 5 of the 6 retail industries. Spending on apparel came a distant second, rising by 2.2%. Spending had fallen by 1.7% in December.
Core retail spending, which excludes vehicle-related industries, rose by 2.2% in January, reversing a 1.7% fall in December.
The Kiwi Dollar moved from $0.67325 to $0.67331 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.10% to $0.6726. The figures were a much needed positive, but will unlikely be enough for the RBNZ tomorrow morning…
For the Aussie Dollar,
Home loans fell by 6.1%, month-on-month, in December, which was worse than a forecasted 2.8% decline. In November, home loans had fallen by 0.9%. According to figures released by the ABS ,
The NAB Business Confidence Index came in at 4 in January, coming in ahead of a forecasted and December 3.0.
The Business conditions index increased by 4 points to +7, the rise attributed to an increase in trading (+10), profitability (+5) and employment (+5).
The rise in the confidence index failed to pull the index above the long-run average.
Forward indicators were described as mixed in January.
Forward orders rose to above average.
Capex and capacity utilization declined, leaving capacity utilization at just above long-run averages.
Most industries saw capacity utilization fall to below average levels, which may impact hiring trends down the road.
The NAB also noted that the RBA's next move on interest rates could be down rather than up when considering the current trajectory of growth and rising downside risks.
The Aussie Dollar moved from $0.70632 to $0.70748 upon release of the figures. At the time of writing, the Aussie Dollar stood at $0.7076, up by 0.20% for the session.
Elsewhere,
The Japanese Yen was down by 0.19% to ¥110.59 against the U.S Dollar. Risk on sentiment through the session weighed on the Yen in the early part of the day. The Nikkei was the main beneficiary, rallying by 2.66%.
A lack of negative commentary on trade provided support, leading to a 0.85% rise in the CSI300 and a more modest 0.16% rise in the Hang Seng. The ASX200 was up by 0.34% at the time of writing.
The Day Ahead:
For the EUR
It's another quiet day on the economic calendar . Focus through the day will likely remain on trade war chatter and any updates on Brexit negotiations between the EU and Britain. No deal would be a dire outcome for Britain, but the EU economy would certainly not be unscathed.
The EUR has been largely unaffected by the Brexit chatter in recent months. When considering the possible impact of a no-deal on certain economies, including Germany's, sensitivity may begin to kick in.
At the time of writing, the EUR up by 0.02% at $1.1278, early support coming from the risk-on sentiment.
For the Pound
There are no material stats scheduled for release out of the UK to provide direction through the day.
While there are no stats, BoE Governor Carney is scheduled to speak and could provide the Pound with further direction should there be any further comments on monetary policy.
Following disappointing economic stats out of the UK on Monday, there's little reason for Carney to deliver a hawkish stance, though it wouldn't be the first time that Carney has caught the markets off-guard.
On the Brexit front, any updates on talks between British PM May and Opposition leader Corbyn will also influence through the day, as would any comments from Brussels. British PM May is scheduled to update Parliament today, while the government has also confirmed that there will be no meaningful vote this week.
The Pound needs a no-deal scenario to come off the table to bring $1.30 levels back.
At the time of writing, the Pound was up 0.06% at $1.2863.
Across the Pond
Economic data scheduled for release out of the U.S is limited to December's JOLTs job openings. Following January's nonfarm payroll figures, we can expect the Dollar to largely ignore the numbers, barring particularly dire numbers.
Outside of the numbers, FED Chair Powell is scheduled to speak later in the day. A renewed love for the Dollar comes in spite of the FED's more dovish stance on rates. We can expect the Dollar to respond to any policy chatter.
While FED Chair Powell will influence, the focus will remain on updates on from the U.S administration on trade talks with China and where things stand on the government funding deadline.
At the time of writing, the Dollar Spot Index was up by 0.01% to 96.069.
For the Loonie
There are no material stats scheduled for release through the day. Crude oil prices will likely provide direction, with sentiment towards the U.S - China trade talks and the global economic outlook influencing alongside OPEC's monthly report due out later in the morning.
The Loonie was up by 0.11% to C$1.3288, against the U.S Dollar, at the time of writing, support coming from a pickup in crude oil prices and risk appetite across the broader market.
This article was originally posted on FX Empire
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The figures were a much needed positive, but will unlikely be enough for the RBNZ tomorrow morning… For the Aussie Dollar, Home loans fell by 6.1%, month-on-month, in December, which was worse than a forecasted 2.8% decline. While FED Chair Powell will influence, the focus will remain on updates on from the U.S administration on trade talks with China and where things stand on the government funding deadline. Crude oil prices will likely provide direction, with sentiment towards the U.S - China trade talks and the global economic outlook influencing alongside OPEC's monthly report due out later in the morning. | Earlier in the Day: Economic data released through the Asian session this morning included electronic card retail sales figures out of New Zealand, and new home loan sales and business confidence figures out of Australia. For the Kiwi Dollar, According to figures released by NZ Stats , card sales rose by 1.8%, month-on-month, in January. Crude oil prices will likely provide direction, with sentiment towards the U.S - China trade talks and the global economic outlook influencing alongside OPEC's monthly report due out later in the morning. | Earlier in the Day: Economic data released through the Asian session this morning included electronic card retail sales figures out of New Zealand, and new home loan sales and business confidence figures out of Australia. For the Kiwi Dollar, According to figures released by NZ Stats , card sales rose by 1.8%, month-on-month, in January. According to figures released by the ABS , The NAB Business Confidence Index came in at 4 in January, coming in ahead of a forecasted and December 3.0. | For the Kiwi Dollar, According to figures released by NZ Stats , card sales rose by 1.8%, month-on-month, in January. The Aussie Dollar moved from $0.70632 to $0.70748 upon release of the figures. For the Pound There are no material stats scheduled for release out of the UK to provide direction through the day. | fc5c4585-0c87-4377-afbe-38744a875a13 |
709299.0 | 2019-02-08 00:00:00 UTC | With the Aussie under Pressure, the EUR Could Follow with Trade Data in Focus | DBO | https://www.nasdaq.com/articles/with-the-aussie-under-pressure-the-eur-could-follow-with-trade-data-in-focus-2019-02-08 | nan | nan | Earlier in the Day:
Economic data released through the Asian session was on the lighter side this morning. Key stats were limited to household spending out of Japan.
Outside of the numbers, the RBA also released its statement on monetary policy.
For the Japanese Yen
According to figures released by the Statistics Bureau , household spending increased by 0.1%, year-on-year, falling short of a forecasted 0.8% rise, whilst recovering from a revised 0.5% fall in November.
The rise in spending was attributed to:
Ay 19.4% surge in spending on housing, with spending also on the rise on furniture & household utensils (+7.3%); education (+7%); transportation & communication (+5.1%); clothing & footwear (+4.3%); and culture & recreation (+1.1%).
Partially offsetting the increase spending were declines in spending on fuel, light & water charges (-13.3%); medical care (-6%); and food (-3.2%).
Month-on-month, spending fell by 0.1%, which was better than a forecasted 0.2% decline following a 1.1% rise in November.
The Japanese Yen moved from ¥109.790 to ¥109.781 against the Dollar, upon release of the figures. At the time of writing, the Japanese Yen stood at ¥109.7 against the Dollar, up 0.11% for the session
For the Aussie Dollar
The RBA Statement of Monetary Policy was released in the early hours.
Following dovish commentary from RBA Governor Lowe the day after the RBA's policy decision and release of the rate statement on Tuesday, there was more bad news for the Aussie Dollar.
Growth forecasts were revised downwards and the revisions were certainly not minor.
For year-ended June 2019, GDP growth was revised down from 3.25% to 2.5%. For year-ended December 2019, growth was revised down from 3.25% to 3%.
Things were not much better for 2020. Year-ended June 2020 GDP forecasts were revised down from 3.25% to 2.75% and from 3% to 2.75% for year-ended December 2020.
For year-ended June 2021, the GDP growth estimate came in at 2.75%.
Inflation was also revised down,
CPI inflation was forecasted to come in at 1.25% for year-ended June 2019, revised from a previous 2%. For year-ended December 2019, inflation was revised down from 2.25% to 1.75%.
Forecasts for year-ended June 2020 were also revised down, from 2.25% to 2%, whilst year-ended December 2020 forecasts were left unchanged at 2.25%.
The Aussie Dollar moved from $0.70975 to $0.70697 upon release of the statement. At the time of writing, the Aussie Dollar stood at $0.7074, a loss of 0.38% for the session.
Elsewhere
The Kiwi Dollar was up by 0.10% to $0.6756, a recovery from earlier losses coming ahead of next week's RBNZ policy decision. The Kiwi bulls could be in for a surprise, with the RBNZ likely to be joining the doves in next week's meeting.
This morning's growth forecasts released by the RBA come off the back of the ECB's forecasts released on Thursday, which were also revised downwards.
In the equity markets, it was back in the red for the majors.
The ECB's revisions to growth, Trump's pessimism over a trade agreement being hashed out ahead of a 1 st March rollout of fresh tariffs and this morning's gloomy RBA forecasts added pressure on riskier assets.
At the time of writing, the ASX200 was down by 0.43%, while the Nikkei was down by 1.77%.
The Day Ahead:
For the EUR
Germany is back in the spotlight. Following disappointing factory order and industrial production figures released this week, December's trade figures will be the key driver for the EUR.
The ECB's economic bulletin raised enough red flags for the EUR to face the prospect of a pullback to $1.12 levels should the stats continue to weaken. While forecasts are for the trade surplus to narrow, the real question will be by how much.
If Germany's January manufacturing PMI is anything to go by, new export orders seeing the largest fall in 6-years, the doom and gloom may not end in December…
At the time of writing, the EUR was flat at $1.1341.
For the Pound
There are no material stats scheduled for release through the day. Following BoE Governor Carney's comments on Thursday, where he said that further rate hikes should not be priced out of the Pound, its back into the red in the early part of the day.
Focus returns to Brexit and whether Theresa May can find more support for concessions to deliver a deal acceptable to Parliament.
We can expect Brexit chatter to have a significant influence, with any chances of a pickup in economic growth hinged on a soft Brexit.
At the time of writing, the Pound was down 0.02% at $1.2932.
Across the Pond
There are also no material stats scheduled for release through the day. Dovish central bank commentary by the ECB and RBA have provided the Dollar with support this week, the FED continuing to talk up the U.S economy in spite of an acknowledgment that rate hikes may need to pause.
The lack of stats will leave the Oval Office in focus, any trade chatter likely to influence.
At the time of writing, the Dollar Spot Index was up by 0.06% to 96.564.
For the Loonie
It's a busy day on the data front. Key stats scheduled for release include January housing start figures and labor market statistics. The focus will be on January's employment change data and the unemployment rate, a forecasted uptick in the unemployment rate a negative for the Loonie.
Outside of the numbers, market risk sentiment will play a hand, with Trump's pessimism over a U.S - China trade agreement by the end of this month, weighing on crude oil prices and the Loonie in the early part of the day.
The Loonie was down by 0.10% to C$1.3321, against the U.S Dollar, at the time of writing.
This article was originally posted on FX Empire
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Natural Gas Price Prediction - Prices Tumble Despite In Line Inventory Draw
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The ECB's revisions to growth, Trump's pessimism over a trade agreement being hashed out ahead of a 1 st March rollout of fresh tariffs and this morning's gloomy RBA forecasts added pressure on riskier assets. Dovish central bank commentary by the ECB and RBA have provided the Dollar with support this week, the FED continuing to talk up the U.S economy in spite of an acknowledgment that rate hikes may need to pause. Outside of the numbers, market risk sentiment will play a hand, with Trump's pessimism over a U.S - China trade agreement by the end of this month, weighing on crude oil prices and the Loonie in the early part of the day. | For the Japanese Yen According to figures released by the Statistics Bureau , household spending increased by 0.1%, year-on-year, falling short of a forecasted 0.8% rise, whilst recovering from a revised 0.5% fall in November. At the time of writing, the Japanese Yen stood at ¥109.7 against the Dollar, up 0.11% for the session For the Aussie Dollar The RBA Statement of Monetary Policy was released in the early hours. Following dovish commentary from RBA Governor Lowe the day after the RBA's policy decision and release of the rate statement on Tuesday, there was more bad news for the Aussie Dollar. | For the Japanese Yen According to figures released by the Statistics Bureau , household spending increased by 0.1%, year-on-year, falling short of a forecasted 0.8% rise, whilst recovering from a revised 0.5% fall in November. At the time of writing, the Japanese Yen stood at ¥109.7 against the Dollar, up 0.11% for the session For the Aussie Dollar The RBA Statement of Monetary Policy was released in the early hours. This morning's growth forecasts released by the RBA come off the back of the ECB's forecasts released on Thursday, which were also revised downwards. | For the Japanese Yen According to figures released by the Statistics Bureau , household spending increased by 0.1%, year-on-year, falling short of a forecasted 0.8% rise, whilst recovering from a revised 0.5% fall in November. This morning's growth forecasts released by the RBA come off the back of the ECB's forecasts released on Thursday, which were also revised downwards. The Loonie was down by 0.10% to C$1.3321, against the U.S Dollar, at the time of writing. | ddcca637-1339-4ef9-8a83-754550dccccc |
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