After China’s upbeat growth numbers this week, all eyes will be on the US economy’s performance during the first quarter. Aside from the US GDP, it’s going to be a rather quiet seven days for economic data due to the shortened Easter week but there will be two major central bank meetings to keep traders at their desks. The Bank of Canada and the Bank of Japan will announce their latest policy decisions in the coming days. Aussie looks to [..]
US dollar and Wall Street lifted by solid economic data and earnings But euro, pound, aussie and kiwi turn lower on Eurozone woes, resurgent dollar Thin liquidity expected today as many markets closed for Good Friday US recession fears ebb after retail sales bounce Dollar bulls made a comeback on Thursday after retail sales in the US unexpectedly surged in March and weekly jobless claims fell to their lowest in nearly half a century. The data once again highlighted the [..]
US markets retreat as healthcare stocks ‘feel the Bern’ Moves in FX generally subdued, but euro takes a hit after German PMIs Retail sales data coming up in UK, US, and Canada today Wall Street inches down as healthcare stocks weigh ‘Sanders risk’ US equity markets retreated modestly on Wednesday, with losses in the healthcare sector eclipsing encouraging earnings elsewhere. The benchmark S&P 500 fell by 0.23%, weighed down by pharmaceutical giants UnitedHealth (-1.87%), Pfizer (-2.49%), and Merck (-4.72%), among [..]
The minutes from the latest monetary policy meeting by the Reserve Bank of Australia underlined the importance of the labor market in setting interest rates on Tuesday, making the Australian employment report due on Thursday at 0130 GMT the next major event for the aussie. After an upsetting 4.3k increase in February, the economy is expected to have created 12k new job positions in March. While, at a first glance, this could be considered as progress, the addition is still among [..]
Fears of a global slowdown ease substantially after China posts stronger-than-expected GDP data for the first quarter The data lifts risk-assets with the Australian dollar being the main beneficiary But broader gains are limited amid caution about the outlook China GDP beats expectations, industrial output surges Markets cheered upbeat economic figures out of China on Wednesday, continuing the series of positive numbers out of the country over the past couple of weeks. China’s economy expanded by 6.4% year-on-year in the [..]
AUDUSD crawled slightly above the 200-day simple moving average (SMA) early on Wednesday for the first time in more than a year to meet resistance at a two-month high of 0.7205. Positive momentum could hold in the short term as the red Tenkan-sen line continues to gain ground above the blue Kijun-sen, while the MACD keeps fluctuating comfortably above its red trigger line. At the same time, the pair is also trading along the upper Bollinger band over the past few days, [..]
All eyes on Wednesday will be on China’s growth figures for the first quarter, due at 02:00 GMT, as the world’s second largest economy continues to lose steam. But while China’s GDP growth is expected to have slowed further during the first three months of the year, there are encouraging signs lately that the slowdown is levelling off and a rebound is on the way. After expanding by an annual rate of 6.4% in the final quarter of 2018 – [..]
Dollar steady as markets await economic releases for more clues on outlook amid signs of green shoots China GDP will be the week’s highlight and key in building on the current risk-on tone Market mood to also be determined by US earnings season as banks’ results underwhelm Aussie worst performing currency after RBA sets condition for rate cut Dollar off lows ahead of important data The positive risk sentiment from Friday continued to ease slightly on Tuesday as investors preferred [..]
Markets will take a break from central banks and Brexit news over the coming week as the focus moves firmly onto economic fundamentals. Monthly inflation reports will be the dominant release, followed by retail sales estimates. The latest flash PMIs will also be keenly watched amid tepid signs of a recovery in some parts of the world. But while the upcoming data could prove significant in identifying shifting trends, major FX pairs will likely struggle to break out of their [..]
US earnings season commences with JPMorgan & Wells Fargo Dollar advances alongside US yields, but pares gains Yen retreats ahead of US-Japan trade talks, gold follows Earnings season kicks off with major US banks US equity markets closed practically flat yesterday, though the Nasdaq Composite (-0.22%) did post some losses, with traders appearing reluctant to take on new positions ahead of what promises to be a stormy earnings season. US banking behemoths JPMorgan Chase and Wells Fargo will report their [..]
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