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Daily Forex Fundamentals |
Written by GCI Financial |
May 09 08 15:31 GMT |
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he common currency gave back some gains during the North American session after crude oil futures slipped back to the $124 handle after trading as high as US$ 126.20, a new lifetime high. Data released in the U.S. today saw the March trade deficit print at US$ 58.2 billion, down 5.7% from -US$ 61.7 billion in February on account of weaker domestic demand. |
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Daily Forex Fundamentals |
Written by CMC Markets |
May 09 08 15:09 GMT |
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The US trade deficit fell to $58.21 billion in March from $62.3 billion, overshooting expectations of $61.3 billion. US exports fell 1.7% after rising 1.8%, while imports tumbled 2.8% after rising 2.6%. The decline in imports was mainly owing to a temporary retreat in energy products. While much ink had been spilled over the benefits of a weak dollar on international trade, there was no relief on overall exports. In fact, as long as a falling dollar is accompanied by surging oil, the net effect is negative via rising oil imports. |
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Daily Forex Fundamentals |
Written by Crown Forex |
May 09 08 14:34 GMT |
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The trade deficit did narrow yet still imports falling had the deepest impact while as well exports slowed! So no good growth from it yet slight expectations to revisions to the GDP yet still exports are not as bright as one might have hoped. While credit woes are roaming once more and this time its Citigroup in question as they tend to shed $400 billion of assets as the bank has suffered credit losses and writedowns since the market collapsed in August last year. |
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Daily Forex Fundamentals |
Written by RBC Financial Group |
May 09 08 13:42 GMT |
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The U.S. international trade deficit narrowed to US$58.2 billion in March from a downwardly revised US$61.7 billion (prior US $62.3 billion) In February. Going into the March release, the deficit was expected to narrow to US$61 billion from February's initially reported level. |
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Daily Forex Fundamentals |
Written by RBC Financial Group |
May 09 08 13:40 GMT |
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Canada's merchandise trade surplus was much larger than expected in March and came in at C$5.5 billion - the largest since May 2007. Exports posted another monthly gain, rising 1.6% while imports softened, falling 0.3%. February's surplus was marked down modestly to C$4.8 billion from the preliminary report, which showed a C$4.9 billion gap. Forecasters expected a moderate easing in the surplus to $4.5 billion in March. |
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Daily Forex Fundamentals |
Written by RBC Financial Group |
May 09 08 13:39 GMT |
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Canada's labour market beat forecasts once again with the economy creating another 19,200 jobs in April, solidly beating market forecasts for a 10,000 job increase. The unemployment rate edged up to 6.1% as another 23,800 people entered the labour force, but remains near generational lows. The wage measure for permanent employees rose 0.2%, much slower than last April's 0.7% outsized gain and resulting in the year-over-year rate slipping to 4.2%, but still solidly outstripping inflation. |
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Daily Forex Fundamentals |
Written by DailyFX |
May 09 08 11:52 GMT |
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The Canadian labor market continues to remain strong on the back of robust demand for commodities. The economy added 19,200 jobs in April against expectations of 10,000, as the service sector saw an increase of 22,900 jobs up from the 6,800 added in February. Looking at the components, the central bank will be encouraged by the 20,600 increase in fulltime workers from a 19,600 decline in March, as it may be a sign that companies outlooks are improving. |
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Daily Forex Fundamentals |
Written by Investica |
May 09 08 11:51 GMT |
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The mood of caution may persist in the short term, but heavy selling of carry trades should be resisted at this time. Risk aversion has increased again over the past 24 hours. Equity markets have generally struggled over the past 24 hours with some retracement after the recent recovery. The Asian markets were also unsettled by weaker than expected results from US insurer AIG which renewed fears that credit difficulties could intensify again. There has also been some widening of credit spreads over the past 24 hours. |
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Daily Forex Fundamentals |
Written by CMS Forex |
May 09 08 11:50 GMT |
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The fear of a surprise in the actions and rhetoric of either the Bank of England or European Central Bank, in relation to yesterday's rate decisions, never came to fruition. This has sparked a “relief rally” or sorts, though the only material benefit has come to the Euro. After all, the market seems to be foreshadowing darker days ahead for the UK and British Pound. Accordingly, the final London Session of the tumultuous week has brought a continuation of the recent reversal of downside price movement in the Euro. The US dollar has paid the price and now sits decidedly below recent highs versus most currencies, such as the Swiss Franc and Japanese Yen. |
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Daily Forex Fundamentals |
Written by Crown Forex |
May 09 08 10:49 GMT |
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The greenback is currently giving mixed signals in the market as it is not taking a specific trend while later this afternoon we wait for the release of the trade balance concerning the US economy as it is expected that the deficit will narrow. As for the single currency it is currently seen gaining against the US dollar as the ECB decided to keep rates on hold at 4% yesterday since they already have inflation according to the flash estimate at 3.3% way above the banks target of 2%. |
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Daily Forex Fundamentals |
Written by Trade The News |
May 09 08 09:38 GMT |
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In currencies, dealers noted overnight that the sentiment for the USD has been less positive since the ECB rate decision and press conference yesterday. The EUR/USD approached the 1.55 area, while the GBP/USD held its ground at 1.9500, unchanged opening levels seen in Asia. Dealers noted that the spread between the US and German 2-year notes is widening from lows seen earlier this week. The 2 year spreads is back to -150 and is helping the Euro rebound against the USD. Dealers also noted that, with oil approaching fresh record highs near the $125 level, and equity weakness resurfacing (led by financials), the recent USD bullishness was perhaps premature. Dealers speculated that a consolidation phase is more likely to be the upcoming scenario for the USD-related pairs. The risk aversion theme helped the JPY and the CHF firm overnight. Commodity related pairs were mixed as USD/CAD firmed by 80 pips to 1.0090, while the AUD/USD is off 30 pips at 0.9414. |
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Daily Forex Fundamentals |
Written by AC-Markets |
May 09 08 09:30 GMT |
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The Euro rebounded on Thursday from a two-month low against the Dollar after European Central Bank President Jean-Claude Trichet said inflation remains his top concern, signaling the bank won't cut interest rates anytime soon. After the ECB left the benchmark refinancing rate at 4% on Thursday, Trichet told reporters that high energy and food costs mean the euro-zone still faces 'a protracted period' of high inflation. Some investors had expected Trichet to temper his tough talk on inflation and focus on signs of slowing euro zone growth. That helped lift EurUsd off a two-month 1.5285, pushing it as high as 1.5442. It closed at 1.5406 up 0.4%. The ECB's continued focus on inflation at a time when global growth appears to be slowing prompted investors to reduce exposure to risk, and that boosted the low-yielding Yen that's typically used to finance risky trades. |
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Daily Forex Fundamentals |
Written by Finotec Group |
May 09 08 09:04 GMT |
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The U.S. trade deficit will have probably narrowed in March as a weaker dollar boosted exports of machinery and food, economists said ahead of a government report today which comes out at 12:30pm GMT. The trade balance Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported over a given period. |
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Daily Forex Fundamentals |
Written by DailyFX |
May 09 08 08:54 GMT |
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The EURUSD continued its rebound from multi-week lows in the aftermath of yesterday's very tough, unapologetically hawkish press conference by ECB President Jean Claude Trichet. Mr. Trichet essentially stated that European monetary authorities have no intention of lowering rates anytime soon given the elevated level of inflation present in the region's economy and will continue to focus on controlling price pressures rather than bolstering waning economic demand. |
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Daily Forex Fundamentals |
Written by Danske Bank |
May 09 08 08:32 GMT |
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The main news today will be the release of ECB's lending survey at 10.00 CET. At the ECB press conference yesterday ECB president Trichet commented very briefly on it saying that banks had continued to tighten credits. If the survey shows a strong tightening this could be bullish for bond markets. Overall ECB seemed a little more concerned over the possible negative effects from credit tightening yesterday. As we have also seen in the Senior Loan Officer survey from Fed credits standards are being tightened quite significantly and this is becoming an increasing headwind - on top of the strong headwind from rising oil prices and in Euroland's case, the strong currency. The rise in oil prices is very negative for Euro growth as it sucks out purchasing power and makes it harder for ECB to stimulate the economy through rate cuts. |
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Daily Forex Fundamentals |
Written by Crown Forex |
May 09 08 08:17 GMT |
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An end of a hectic week, with extreme correctional movements for most currencies, all sliding down to unexpected levels such the Euro plunged to 1.53's levels this week, in addition the Royal currency that fell to 1.95's levels, which is due to the alleged optimism in the markets.
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Daily Forex Fundamentals |
Written by Global Forex Trading |
May 09 08 08:07 GMT |
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The beginning of the year made it look as if the European economy had shrugged off any negative impact of the turmoil seen in the final months of last year. However, the past few weeks have brought a series of disappointing numbers and the French industrial production numbers for March add to that series. |
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Daily Forex Fundamentals |
Written by Crown Forex |
May 09 08 07:13 GMT |
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The week has come to an end, the week which the dollar battled among its bulls and bears though the data flow from the US was insignificant yet did have its toll on markets, despite being overshadowed by the European continent, as today the end will be with trade data from the US... |
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Daily Forex Fundamentals |
Written by KBC Bank |
May 09 08 07:11 GMT |
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Recently EUR/USD came under pressure on the back of poor European eco data. However, Mr. Trichet holding to its established anti-inflationary approach blocked the correction. However, we're not fully convinced on the euro rebound potential yet. USD/JPY is hit by a profit taking move. |
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Daily Forex Fundamentals |
Written by Lloyds TSB |
May 09 08 06:52 GMT |
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The two central bank decisions turned out as expected yesterday, but in the case of the BoE, this may stil mean that at least one MPC member will have voted to lower rates. We will have to wait for the release of the MPC minutes in two weeks time to find out, but the Q2 Inflation Report next week should give a pretty good idea of where the Bank believes interest rates should be in the context of its projections for economic growth and inflation. In terms of the ECB, there was no indication that growth forecasts will be significantly revised down when the updated staff projections are published in June. This supports our view of no change in euro zone rates through 2008. A relatively quiet final day of the week in terms of economic data today brings US foreign trade data for March and the Canadian employment report for April. A rise in US exports to a new record $151.4bn in March was offset by a record as well for imports of $213.7bn, despite a lower oil deficit. A stabilisation of oil prices in March means the trade deficit may have narrowed from $62.3bn. The figures are relevant because they may help decide whether or not we get an upward revision to the advance Q1 gdp estimate of 0.6%. Two weeks ago the Bank of Canada hinted that more rates cuts could lie ahead, and it will be in this context that we will judge the Canadian employment data this afternoon. |
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Daily Forex Fundamentals |
Written by Saxo Bank |
May 09 08 06:48 GMT |
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Yen is headed for biggest weekly gain in 3 month period against euro as continued decline in Asian stocks has punished the carry trades. |
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Daily Forex Fundamentals |
Written by Saxo Bank |
May 09 08 06:39 GMT |
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Trichet's guidance at the press conference yesterday predominantly showed continued preoccupation with inflation and perhaps less of a leaning toward growth concerns than the market expected, but the rhetoric was about as 'un-dramatic' as possible. One humorous episode included an inquiry into why the monetary policy statement didn't include the word 'vigilant' to which Trichet replied that the word had not been removed from the ECB's vocabulary. EURUSD broke lower initially, but with forward expectations for ECB easing hardly budging, the break was quickly reversed as it there was no fundamental underpinning for the move. Now we have a hammer reversal formation and wonder if a test of top scenario, or at least a rally, is perhaps the more likely outcome in the coming cycle. The risk to the USD is that the perception changes in coming days/weeks that the US outlook is less rosy than the market has been hoping. USDJPY might be the better instrument for trying a weak USD trade as the JPY crosses are all developing some negative momentum. NZD is almost always our favorite currency to short - have a look at NZDJPY. |
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Daily Forex Fundamentals |
Written by Jyske Bank |
May 09 08 06:19 GMT |
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The USD fell from its two-month high against the EUR after the ECB announced that rates were left unchanged at yesterday's monetary policy meeting. At the press conference Trichet repeated his inflation mantra as he stated that although risks to growth in the Euro Zone prevail the ECB must keep a tight rein on inflation and inflation expectations. In other words it doesn't seem like the ECB is anywhere near following their American counterparts regarding rate cuts. Thus the interest rate differential between the Euro Zone and the US is likely to remain intact in the foreseeable future and short term it doesn't look as though a break lower on EURUSD is in the cards. |
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Daily Forex Fundamentals |
Written by Forex.com |
May 09 08 05:51 GMT |
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The Asia session ended the week with the Euro bouncing back and crude oil hitting new record highs. After yesterday's decision to keep rates unchanged, ECB president Trichet kept up his hawkish tone in the following press conference, quelling any talk of near term rate cuts. Add to the mix some US growth concerns and EUR/USD continued its choppy ride on the up escalator. Although not as dramatic as the NY session, Euro opened near 1.5390 and ended the night about 20 pips higher, after coming off of a 1.5425 session high. The same scenario unfolded in GBPUSD, opening on 1.9540 lows, hitting a session peak of 1.9569 and exiting the session a tad lower near 1.9555. Speaking of the UK, the Bank of England also held rates at 5.00% yesterday. |
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Daily Forex Fundamentals |
Written by Global Forex Trading |
May 09 08 05:49 GMT |
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The RBA has admitted that reducing inflation over the near term is highly unlikely and is relying on the current slowdown in domestic demand to bring the rate back into the CB's 2%-3% comfort zone within two years. Until then it sees inflation levels at 4.5% for this year and 3.25% next. |
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Daily Forex Fundamentals |
Written by Jyske Bank |
May 09 08 04:28 GMT |
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Australia's central bank on Friday raised its forecasts for inflation this year, but said a significant slowing in domestic demand was underway which would bring inflation back into its target band by the end of 2010. |
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Daily Forex Fundamentals |
Written by Trade The News |
May 09 08 04:22 GMT |
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AUD/USD lower after Reserve Bank of Australia's Quarterly Monetary Policy Statement: Currency markets showed a volatile response to the statement. The initial reaction was to push AUD higher after the RBA raised inflation forecasts, but AUD slipped as the markets shifted focus to the central bank's growth downgrade. The RBA also said that current monetary policy settings are appropriate, adding that it's too early to gauge the full impact of recent rate hikes. The central bank noted noticeable restraint in home and business lending demand, but added that a significant slowdown in demand needed to curb inflation. AUD/USD dropped from 0.9440 to 0.9400 in the moments after the release, with the next support seen at 0.9385, the hourly range low set during yesterday's European session. |
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Daily Forex Fundamentals |
Written by Easy Forex |
May 09 08 01:55 GMT |
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U.S. Dollar Trading (USD) was volatile versus a number of currencies thorough out all session on Thursday. US wholesale inventories data unexpectedly fell for the first time in more than a year in March, while wholesale sales posted a stronger-than-expected rise of 1.6 percent. Stocks rose in U.S. share markets the NASDAQ was 12.75 points (0.52%) whilst the Dow Jones 52.43 points (0.41%). Crude oil traded at another record high on Thursday for the fourth straight day, hitting US$124.61. Oil finished the day up by US$0.16 a barrel to US$123.69. US Trade Balance is scheduled for release today with markets expecting the trade deficit to narrow to -61 billion. |
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Daily Forex Fundamentals |
Written by DailyFX |
May 09 08 01:47 GMT |
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The relative quiet of the economic docket has proven to be a boon for the dollar's evolving reversal so far this week. Through Thursday's session the greenback climbed to a more than two-month high against the euro, British pound and Swiss franc. And, while fading fundamentals on the other side of these pairs contributed heavily to the moves; we did receive a few leading indicators from the US calendar, and each brightened the outlook for the world's largest economy. |
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Daily Forex Fundamentals |
Written by DailyFX |
May 09 08 01:44 GMT |
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The US dollar lost ground against most of the major currencies due to surging oil prices, and led the low yielding Swiss franc and Yen to take the biggest bite out of the greenback as investors curbed their risk appetite. As a result, the New Zealand and the Canadian dollar were the only currencies to trail against the greenback, while the Australian dollar picked up a modest gain as better than expected employment data heightened the appeal of the Aussie. Against the major European currencies, the US dollar slide against both currencies as the European Central Bank and the Bank of England opted to hold the benchmark interest rate at 4.00 and 5.00 percent, respectively. As a result, the euro picked up to trade just above 1.54, while the British Pound held up to trade at 1.95. |
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Daily Forex Fundamentals |
Written by Westpac Institutional Bank |
May 09 08 01:37 GMT |
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The New Zealand dollar fell sharply yesterday after the shockingly weak jobs figures for the March quarter. Employment fell 1.3%, the largest quarterly fall in 19 years, suggesting an even quicker slowdown in the economy than we had expected. The market quickly moved to anticipate earlier rate cuts by the RBNZ - short-term interest rates fell by as much as 0.25%, and the currency fell from 0.7820 to 0.7720 after the release. While the currency didn't make much more progress lower overnight, it tended to lag the other major currencies as they strengthened against the US dollar. |
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Daily Forex Fundamentals |
Written by Global Forex Trading |
May 09 08 01:33 GMT |
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Europe quite rightly reversed the Dollar's gains on such comments which really have no tangible power. That markets overshoot themselves is a factor that has always existed and always will. These excessive moves, as has been proven this time, are fueled by unreasonable fears that have moved to extreme levels. If they study markets this has always been the case and when those fears are proven to be unfounded the markets naturally unwind. |
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Daily Forex Fundamentals |
Written by CMS Forex |
May 09 08 01:28 GMT |
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The dollar traded mixed versus its rivals Thursday. The European Central Bank and the Bank of England, as forecast, left their benchmark interest rates unchanged at 4% and 5%, respectively. The EUR/USD traded below 1.53 overnight but later gained as European Central Bank President Jean-Claude Trichet highlighted inflation risk. The euro was little changed in late New York trading, still above the important support; however, today's penetration of the support will likely lower the pair. Sterling was little changed after the BOE kept rates unchanged. The Canadian dollar fell as Canadian housing starts declined more than expected. The Australian dollar advanced as Australian employment rose for a record 18th month. The yen and Swiss franc rose as investors reduced carry-trades. |
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Daily Forex Fundamentals |
Written by Forex.com |
May 08 08 21:35 GMT |
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The EUR snapped back after sharp losses in overnight trading, rising as ECB Pres. Trichet dashed any hopes of a rate cut, leading traders who had sold short EUR to cover positions in dramatic fashion. EUR/USD had dropped to an overnight low around 1.5290, but had already recovered to the 1.5350 area as NY trading opened up. US weekly jobless claims were not as bad as markets feared leading to another bounce for the USD and a drop in EUR/USD back to around 1.5310, but from then on it was M. Trichet's show. |
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Daily Forex Fundamentals |
Written by DailyFX |
May 08 08 21:05 GMT |
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The only significant event risk on Friday will be from the release of the Canadian net employment change. This release is essentially "the other NFP" report, as the data tends to be highly market-moving for the Canadian dollar and rarely meets estimates. Lately, the net employment change has been lackluster and signs are starting to emerge that domestic demand is slowing. Indeed, during the month of February, wholesale sales plunged 1.8 percent while retail sales fell 0.7 percent. |
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Daily Forex Fundamentals |
Written by Danske Bank |
May 08 08 20:23 GMT |
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The ECB is firmly on hold in the short term as it has to balance the upside risks to inflation against the downside risks to growth. With no big changes, the market reaction was very moderate. Going forward, we think triggers for an easing bias have to come from lower inflation and/or a further decline in the German ifo index and PMI indices. We think we will see this decline in surveys in the coming months. Our central case is therefore still a rate cut in September, but the continued rise in oil prices poses a significant risk to the forecast as it means inflation will stay elevated for longer. |
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Daily Forex Fundamentals |
Written by MG Financial Group |
May 08 08 19:57 GMT |
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The dollar eased against the euro and the yen in the Thursday session, falling to 1.5441 and 103.42, respectively. Central bank decisions garnered the lion's share of the attention today, with the European Central Bank and the Bank of England both announcing rate decisions in the morning. |
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Daily Forex Fundamentals |
Written by KBC Bank |
May 08 08 16:24 GMT |
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There was little doubt that the European Central Bank would leave its key policy rates unchanged at 4% following it's governing council meeting today. Official interest rates have now held steady in the Eurozone for 11 months. As graph 1 below indicates the ECB's inaction stands in stark contrast to the aggressive measures taken in the US and UK of late. Greater concern about inflation and less fear about economic activity have meant the ECB has not followed the Federal Reserve and the Bank of England. |
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Daily Forex Fundamentals |
Written by Trade The News |
May 08 08 15:53 GMT |
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The European central banks did little to surprise the markets in terms of expected interest rate decisions. Both the BOE and ECB maintained a steady policy as they weighed the cross currents of slower growth and higher inflation. The BOE left its key rate at 5.00% while the ECB maintained its 4.0% target. During the ECB press conference, Trichet did little to change his prior hawkish views on inflationary expectations. |
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Daily Forex Fundamentals |
Written by TD Bank Financial Group |
May 08 08 15:40 GMT |
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CMHC reported this morning that Canadian housing starts dipped by 12% in the month of April, which was weaker than the market consensus of 225,000 units but slightly above our own forecast of 210,000 units. After back-to-back months of over-sized strength in multiple starts in February and March, that segment of the new home market seemed ripe for a correction. April's level of multiple starts in urban areas dipped by 19.2% but remained at a healthy level above 110,000 units and brought us back close to the level observed in January. |
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Daily Forex Fundamentals |
Written by Crown Forex |
May 08 08 14:33 GMT |
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There you have it dear reader all came as anticipated and the surprise element was ironically that no surprise was seen! Steady rates for sterling were a surprise as most anticipated an unexpected move to be taken by the BoE while Trichet reiterated that price stability remains the predominant concern for the governing council. |
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Daily Forex Fundamentals |
Written by GCI Financial |
May 08 08 14:32 GMT |
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The common currency erased earlier intraday losses after European Central Bank President Trichet stated "Upside risks to price stability prevail over the medium term." As expected, the ECB kept its main refinancing rate unchanged at 4.0% and Trichet also indicated downside economic growth risks could impact the EMU-15 economy more than expected. Traders are split as to whether or not the ECB will be forced to reduced interest rates later this year. |
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Daily Forex Fundamentals |
Written by RBC Financial Group |
May 08 08 14:12 GMT |
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Housing starts fell 12% to an annualized 213,900 units from 243,000 in March. Market expectations had been for starts to drop by a more moderate 7.4% to an annualized 225,000 units. Despite the decline, however, the level of activity remains well above the 200,000 mark, which CMHC characterized as still indicative of robust housing activity. |
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Daily Forex Fundamentals |
Written by DailyFX |
May 08 08 13:40 GMT |
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Less than an hour after the European Central Bank announced the benchmark rate would be held at 4.00 percent, President Jean Claude Trichet delivered his usual commentary to an attentive public. Over the past few weeks, speculation that the policy authority would take a more dovish approach to its rate decisions had grown after a number of leading indicators have shown a stunting in the region's strong pace of economic growth and data that suggests inflation trends are finally pulling back to tolerable levels. |
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Daily Forex Fundamentals |
Written by Crown Forex |
May 08 08 13:27 GMT |
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Both Central banks decided to keep rates steady on fears that inflation is still to pick up in the upcoming months on the backs of commodity prices. Mr. King didn't have much to say but the statements made by Mr. Trichet were of no surprise. |
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Daily Forex Fundamentals |
Written by DailyFX |
May 08 08 11:56 GMT |
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GBPUSD rose above the 1.9600 figure in immediate aftermath of the BoE rate announcement as UK monetary authorities stuck to their script and kept rates steady at 5.0%. Following yesterday’s weaker than expected Industrial Production data, we speculated that “the last bastion of strength in the UK economy (manufacturing) may have given way, increasing pressure on the BoE to begin easing sooner rather than later despite lingering concerns about inflation amongst most of the MPC members.” |
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Daily Forex Fundamentals |
Written by DailyFX |
May 08 08 11:34 GMT |
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The BoE left their benchmark interest rate unchanged at 5.00%, in order to gauge inflation risks. The central bank has been concerned with inflation breaching its 3% threshold, which requires Governor King to write a letter of explanation to Chancellor Alistair Darling. Inflation stands at 2.5% far above the desired 2% target, as record oil and food prices continue to squeeze consumers. |
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Daily Forex Fundamentals |
Written by Forex.com |
May 08 08 11:00 GMT |
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The BoE and ECB rate announcements are dead ahead, squarely on the radars of all investors, traders, and analysts in all markets. As mentioned throughout the week, the consensus remains for unchanged results in both decisions. As soft economic data pours out of both the UK and Euro Zone, however, rumblings for future cuts have made their way around trading desks. This is a clear message that market players will be focused not only on the announcements themselves, but perhaps more so upon any statements to follow. Lastly, and certainly secondary, crude oil futures continue to set record highs on a daily basis, despite a recently rising US dollar. This inevitably has fueled conversations about a “decoupling” in the two assets, yet another example of the importance of understanding inter-market relationships. |
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Daily Forex Fundamentals |
Written by Crown Forex |
May 08 08 10:57 GMT |
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The ECB and BoE today are both scheduled to meet as this keeps markets on hold as the dollar remains mixed while crude oil prices continue to incline adding more pressure to economies as they already suffer from inflation as there is a current global slowdown. |
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