The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]
US tariff exemptions lift risk sentiment – stocks soar, yen retreats But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]
Safe havens shine and stocks retreat – mainly on fears about Hong Kong Deteriorating political outlook in Italy likely adding to risk aversion Busy calendar today, with crucial UK, German, and US data coming up Stocks stumble on reports China may crack down on Hong Kong protests Risk aversion was the name of the game on Monday, as worrisome political headlines triggered another rotation away from risky assets like stocks, and into the safety of havens like the Japanese [..]
NZDJPY is struggling to recover from its recent plunge to a 6½-year low of 67.56 as the pair once again finds itself testing the psychological 68 level, which could establish itself as a strong support zone. The momentum indicators are illustrating a weak rebound. The stochastics are heading up, but the %K line already appears to be losing steam and about to cross below the slower moving %D line. The RSI, meanwhile, has flatlined in oversold territory and is not [..]
Sterling resumes downtrend as UK economy shrinks, Brexit fears intensify Yen extends gains after Trump says he isn’t ready to make a deal Calendar practically empty today, in a thin liquidity environment Pound feels the burn as UK economy contracts The British pound remains the ‘sick man’ of the FX market, plummeting to a new three year low against the euro on Friday, after the latest GDP figures showed that the economy contracted in Q2 for the first time since [..]
NZDUSD fell aggressively and logged 180 pips early on August 7. But the latest trickle downwards lasted for nineteen days before the correction by buyers. They pushed the price up and into a sideways structure, slightly below 0.6473, which is the 23.6% Fibo retracement level of the down leg, from a three-and-a-half-month high of 0.6789 to a low of 0.6376. It is worth mentioning that the Tenkan-sen average has restarted moving down, agreeing with the 100-day simple moving average’s (SMA) [..]
Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]
New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]
Yen and Swiss franc retreat after yuan steadies as US labels China a currency manipulator Global stocks extend slide as US-China tensions continue to heat up Aussie and kiwi firmer as RBA keeps rates on hold, RBNZ coming up next Euro perks up but pound under pressure Yuan off lows on PBOC midpoint The risk-off moves engulfing currency markets since President Trump’s decision last Thursday to slap more tariffs on Chinese goods eased on Tuesday with the help of a [..]
It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out of Canada too. The highlight for the United Kingdom and Japan will be GDP growth numbers for the second quarter, and in China, the monthly trade and inflation releases will [..]
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