Pound touches 27-month lows as no-deal Brexit concerns resurface Dollar capitalizes, and may have more room to recover for now Oil sinks as Washington hints at “progress” with Iran Canadian inflation data coming up Sterling stumbles as no-deal worries wreak havoc The pound came under fire on Tuesday, falling by more than one big figure against the dollar to touch lows last seen in April 2017, as the risk of a no-deal Brexit popped back on the market’s radar. The [..]
US retail sales and remarks by Powell top the agenda today UK jobs data may be watched as Brexit news flow remains limited Kiwi ticks up, despite lingering RBNZ rate-cut speculation EU Commission chief awaits Parliamentary confirmation Dollar looks to US retail sales and Powell’s remarks The greenback recovered some ground to start the week, in the absence of any noteworthy US news to drive the price action. That may change today though, with the release of the nation’s retail [..]
US stocks eye new record highs as earnings season begins Dollar pulls back as markets digest Powell’s cautiousness Kiwi outperforms on Chinese data, looks to crucial inflation numbers Solid Chinese data calm slowdown fears, boost risk appetite Global markets kicked off the week in a risk-on mood, with the major US stock indices set to open at new record highs and commodity currencies like the kiwi outperforming in the FX arena, following a batch of encouraging Chinese data. As expected, [..]
US dollar firms again on stronger-than-expected data, which tempers bets of 50-bps rate cut Euro edges higher even though ECB minutes signal more stimulus Oil climbs to 1½-month highs on rising Middle East tensions and Gulf of Mexico shutdown Dollar fluctuates as markets undecided on 50-bps cut Just as markets were reconsidering the likelihood of a large 50 basis points cut by the Federal Reserve this month, stronger-than-anticipated data out of the United States dampened those expectations. Core inflation, according [..]
Fed Chair Jerome Powell and FOMC minutes bolster case for a July rate reduction US dollar slips after Powell’s remarks, reversing NFP-driven gains Euro rebounds, eyes ECB minutes; pound and loonie up too US stocks hit record highs but Bitcoin plunges Powell testimony all but confirms rate cut in July Markets were in buoyant mood on Thursday as Fed Chairman Jerome Powell gave his strongest indication yet that the Federal Reserve will slash interest rates at the July 30-31 meeting. [..]
Powell’s testimony awaited as investors seek clues on rates following mixed data US dollar continues to advance higher as odds of 50 basis points cut are erased Pound and aussie extend declines on rising rate cut expectations Bank of Canada expected to hold rates Markets are praying for a dovish Powell Fed Chairman Jerome Powell’s testimony will be today’s and the week’s focal point as investors attempt to gauge how dovish policymakers will be when they meet for their next [..]
Dollar remains buoyant as investors re-evaluate Fed rate cut bets Focus on Fed as FOMC minutes and Powell testimony eyed for clarity on rates Pound slips to fresh 6-month lows ahead of key UK data amid slowdown fears Dollar edges higher on fading expectations of an aggressive Fed The US dollar was heading towards three-week highs against a basket of currencies on Tuesday as investors pared back their expectations that the Federal Reserve would soon embark on an aggressive easing [..]
US dollar roars higher on surprise jump in US payrolls But stocks are sold off as investors trim expectations of aggressive Fed rate cuts Attention now turns to Powell’s semi-annual testimony in Congress for policy clues Strong US jobs report puts dollar back in the front foot The US dollar was trading close to Friday’s highs today when it surged on the back of a much better-than-expected nonfarm payrolls report. The US economy added 224k jobs in June, significantly higher [..]
US employment data today will be crucial for Fed rate-cut expectations and the dollar Canadian jobs figures also due, as loonie touches new 2019 high In Europe, bond markets continue to price in QE, but euro snoozes US payrolls may dictate how deep Fed cuts in July and dollar’s path After a relatively quiet session on Thursday, the spotlight will fall on the US employment data today. Markets are still pricing in a ~25% probability for a ‘double’ rate cut [..]
American equities soar to record highs, as ‘bad news is good news’ again Loonie advances to best levels this year on Fed-BoC policy divergence Trump calls for weaker dollar, but dollar yawns US stocks hit new records American equity markets sailed into uncharted waters yesterday, with all the major indices – the S&P 500 (+0.77%), Dow Jones (+0.67%), and Nasdaq Composite (+0.74%) – closing at new record highs. In a classic case of ‘bad news is good news for stocks’, [..]
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