Wed, Mar 27, 2019 @ 02:45 GMT
The forex markets are staying in consolidative mode today. Sterling rises notably as some Brexiteers are finally agreeing that Prime Minister Theresa May's deal is better than no Brexit. At least, there is a chance for future governments to...
The forex markets are relatively mixed this week, in particular Sterling. Pound is staying inside familiar range even though the Parliament finally seized control over Brexit from the government. Focus will turn to Wednesday's indicative votes but it's uncertain...
RBNZ is expected to leave the cash rate at 1.75% in March. However, as both domestic and global economic slowdown has intensified since the February meeting, we doubt if the central bank could maintain the guidance that next rate...
Market sentiments generally stabilized today after initial selloff in Asia. While major European indices are still in red, losses are so far very limited. German 10-year bund yield even managed to turn positive briefly. Better than expected German Ifo...
Risk aversion dominates in the Asian markets today as recession fears spread. But the currency markets are steady though. Major pairs and crosses are bounded inside Friday's range at the time of writing, with mild weakest in Sterling and...
After the much more dovish than expected Fed economic projections and shockingly poor Eurozone manufacturing data, it looks like major world economies are at the brink recessions. German 10-year bund yield turned negative for the first time since 2016,...
As suggested in the CFTC Commitments of Traders report in the week ended March 19, NET LENGTH in USD Index fell as speculative long positions dropped while shorts gained. NET LENGTH for USD index declined -9 139 contracts, to...
According to the CFTC Commitments of Traders report for the week ended March 19,  NET LENGTH for crude oil futures jumped +52 481 contracts to 414 746 for the week. Speculative long positions rose +34 394 contracts while shorts...
Fears of global recession intensify after shockingly poor German manufacturing data. Major European indices are all trading in red while DOW is down more than 100 pts at initial trading. More importantly, German 10-year bund yield turns negative for...
After some roller coaster rides, Sterling is trading broadly higher for today after EU approved a short Brexit extension for UK. But overall, the Pound remains the weakest one for the week. Delaying the "cliff edge" by two weeks...
Dollar is trying to recover some of the steep losses triggered by much more dovish than expected FOMC economic projections. The greenback is now trading mixed for the day, and it's indeed up against Sterling and Canadian for the...
BOE voted unanimously to leave the Bank rate unchanged at 0.75%, and the asset purchase program at 435B pound, in March. Dataflow during the inter-meeting period was mixed, while the Brexit outlook has become even less certain. The members...
SNB left target range for the three-month Libor unchanged at between -1.25% and -0.25%, and maintained a dovish tone. Apart from pledging to intervene the “highly valued” Swiss franc, the central bank downgraded its inflation forecasts. However, this appears...
Dollar tumbled sharply overnight as FOMC economic projected turned out to be much more dovish than expected. Selling continues today, in particular against the Japanese Yen, which is lifted broadly on after the sharp decline in US treasury yields,...
The Fed has turned more dovish than previously expected. Besides downgrading the economic assessments at the policy statement, the members now expect no change in interest rate this year, followed by one rate hike in 2020. They also revised...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined 12.64 mmb to 1221.85 mmb in the week ended March 15. Crude oil inventory plunged -9.59 mmb to...
Sterling suffers another round of selloff today as the markets clearly disapprove of UK Prime Minister Theresa May's next step on Brexit. In short, she's just seeking a short delay until June 30. But any date beyond May 23,...
Dollar trade generally higher today as markets await FOMC rate decision. But gain is very limited as traders are guarding against unexpected dovishness in Fed. In particular, such dovishness could be embedded in the new economic projections. Meanwhile, Swiss...
At the OPEC+ meeting over the weekend, the members hoorayed for the compliance to the production cut deal, which is expected to reduced output by 1.2M bpd for 6 months through June. As noted in the accompanied statement, “overall...
The forex markets are having no clear direction for the moment. In particular, positive data from Europe were generally ignored by currencies even though yields and stocks are lifted. At the same time, there is no clarity regarding Brexit...
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