Daily Market Comment – Sterling stumbles as no-deal Brexit fears strike back

Posted on July 17, 2019 at 7:48 am GMT

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 [..]

Japanese trade and CPI data eyed ahead of upper house elections – Forex News Preview

Posted on July 16, 2019 at 2:53 pm GMT

Trade and inflation numbers will be watched out of Japan this week ahead of the weekend elections for Japan’s upper chamber. The June trade data is due on Wednesday at 23:50 GMT, while the inflation figures for the same month will be published on Thursday at 23:30 GMT. Both releases are projected to point to a softening in Japan’s economic picture in a potential warning sign for the Bank of Japan. But with Prime Minister Shinzo Abe’s coalition expected to [..]

Daily Market Comment – US retail sales & Powell’s remarks to set the tone

Posted on July 16, 2019 at 7:55 am GMT

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 retail sales in focus as Fed ponders next move – Forex News Preview

Posted on July 15, 2019 at 10:20 am GMT

Retail sales numbers out of the United States will be scrutinized on Tuesday as investors try to keep alive hopes of a 0.50% rate cut by the Fed later this month. The retail sales data will be published at 12:30 GMT and will be followed by industrial production figures at 13:15 GMT. With the Fed July meeting fast approaching, the data could determine whether policymakers decide to go for a 25-basis points reduction, or a steeper 50-bps cut. The dollar [..]

Daily Market Comment – Stocks aim for new records as Chinese data lift sentiment

Posted on July 15, 2019 at 8:24 am GMT

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, [..]

Week ahead – Flurry of key data eyed as markets digest Powell’s cautiousness

Posted on July 12, 2019 at 11:45 am GMT

After Fed chief Powell all but guaranteed a July cut, things could quiet down a little next week, as the agenda is dominated by economic data. Growth figures from China may shed light on how much damage the trade war has inflicted, while in the US, retail sales numbers will be among the final pieces of the puzzle before the next Fed meeting. Inflation stats from New Zealand and Canada are also on tap, with some UK data perhaps attracting [..]

Daily Market Comment – Dollar see-saws on data; euro edges up despite ECB stimulus hint

Posted on July 12, 2019 at 8:11 am GMT

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 [..]


As central banks move to cut rates again, how much lower can they go? – Special Report

Posted on July 11, 2019 at 3:10 pm GMT

As sovereign bond yields around the world take a nosedive in anticipation of rate cuts by major central banks, the question once again being asked is how low can interest rates go. With rates in many regions such as Europe and Japan already in negative territory, have central banks run out of adequate scope to conduct effective policy easing? Bond yields tumble on recession fears Slowing growth and worries of a possible recession in the United States and elsewhere have [..]

Daily Market Comment – Dollar weaker after Powell flags rate cut; US stocks hit all-time highs

Posted on July 11, 2019 at 8:26 am GMT

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. [..]

Technical Analysis – USDJPY slips below 108; lacks clear direction in short term

Posted on July 11, 2019 at 6:42 am GMT

USDJPY extended yesterday’s sell-off below the 108.00 psychological mark today and the mid-level of the Bollinger Band (20-day simple moving average) as well as the 23.6% Fibonacci retracement level of the downfall from 112.40 to 106.77. The pullback on the seven-week high of 109.00 shifted the marginally bullish bias to neutral in the short-term. Looking at the momentum indicators, the RSI is falling below the 50 level, while the stochastic oscillator has already completed a bearish crossover within its %K and %D lines in the overbought zone, suggesting the end [..]

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