Wed, Mar 20, 2019 @ 16:12 GMT
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...
BOE would leave the Bank rate at 0.75% in March. Despite the bounce in the January data, the members would still remain cautious as global economic slowdown remains a key theme of this year. Meanwhile, the members would maintain...
The financial markets are generally quiet in Asian session today, with stock indices stuck in tight range. Sterling turned mixed after knee-jerk reactions to new Brexit chaos overnight. The Pound is probably as clueless the UK government on what's...
Sterling is trading as the weakest one for today so far after suffering some selling in European session. No support is seen for the Pound even though high profile Brexiteer Jacob Rees-Mogg indicated that he might support Prime Minister...
Strong rally in Chinese stocks is lifting Asian markets broadly higher today. Chinese president Xi Jinping is set to visit Italy, France and Monaco from March 21 to 26 this week. While there's no detail on the visits yet,...
As suggested in the CFTC Commitments of Traders report in the week ended March 12, NET LENGTH in USD Index gained as increase in longs outweighed that of shorts. With the exception of NZD, all major currencies stayed in...
According to the CFTC Commitments of Traders report for the week ended March 12,  NET LENGTH for crude oil futures gained +13 464 contracts to 362 265 for the week. Speculative long positions added +2 513 contracts while shorts...
Sterling ended last week as the strongest one as no-deal Brexit is now politically ruled out. But it should be noted that the path forward remains unclear, as least for a few more days. Thus, the upside breakout of...
The forex markets turned mixed ahead of weekend as there is a lack of theme driving the moves. Swiss France turned weakest global stock markets jump mildly. Canadian Dollar is the second weakest as WTI crude oil retreats sharply...
At the upcoming FOMC meeting, the members would vote to leave the Fed funds rate target at 2.25-2.5%. We expect reinforcement of the dovish message conveyed in January. The focus is on the plan to complete the reduction of...
Risk appetite is having a mild comeback in Asia today and commodity currencies are taking advantage of that. Meanwhile, Yen, Dollar and Sterling are also soft. The greenback shrugs off strong rebound in treasury yields overnight. Yen is weighed...
Sterling turns mixed as markets await yet another vote about Brexit in the Commons today. MPs is now given a chance to vote for delaying Brexit beyond March 29. The question is whether it would be a short delay...
Sterling spiked higher overnight after UK Commons voted to reject no-deal Brexit. But there was no follow through buying as the Pound settles back into familiar range quickly. It's indeed the weakest one for today so far, paring some...
China released its latest macroeconomic data for the first two months of the year. Due to Lunar New Year holiday, the January figures for retail sales, industrial production and fixed asset investment were not released. Despite signs of improvement,...
The financial markets are pretty directionless and traders await vote on no-deal Brexit in the UK parliament. Sterling remains the strongest one for now on recovery. But upside is limited below near term resistance against other major currencies. That...
After much volatility in the past 24 hours, Sterling is staying in familiar range against Dollar, Euro and Yen. UK Prime Minister Theresa May's Brexit deal was voted down by the Commons. That puts Brexit back into the original...
The UK parliament again defeated, by 149 votes, the Withdrawal Agreement that PM Theresa May secured from the EU parliament. Despite the changes, attorney general Geoffrey Cox suggested the UK still would risk struck in the Irish backstop indefinitely....
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