Mon, Feb 18, 2019 @ 16:17 GMT
The Fed addressed the issues we are concerned with, in quite a dovish tone, at the January meeting. As widely anticipated, the Fed funds rate stayed unchanged at 2.25-2.5%. The members removed the forward guidance of gradual interest rate...
Dollar jumps notably in early US session against Swiss Franc and Yen following stronger than expected ADP job report. But strength in the greenback is not broad based. Traders are cautiously await FOMC statement and press conference, to see...
The UK Parliament voted on the amendments of the PM Theresa May’s Brexit deal, which they have rejected two weeks ago. Among the seven amendments selected by John Bercow, Speaker of the House of Commons, for debate and vote,...
Sterling tumbled broadly as the UK opened a new chapter in Brexit negotiation with yesterday's parliamentary amendment votes. In short, Prime Minister Theresa May needs to go back to EU to renegotiate the Irish backstop into alternative arrangements. But...
Sterling strengthens broadly today but upside is capped as markets are now watching Brexit debate in the Commons. The opening statement of May was rather dull as she repeated the pledge to deliver Brexit. Meanwhile the situation got more...
The forex markets remain rather quiet today so far. The selloff in stocks and oil overnight triggered some pull back in Canadian and Australian Dollars, but losses were limited. Similar, Yen was given just a mild pop while it's...
Trading in the forex markets has been rather subdued for most of the day. But there are signs of some additional weakness in Sterling and Canadian Dollar in early US session. Traders could be lightening up positions ahead tomorrow's...
There are several issues we are expecting from the FOMC meeting later this week. While it is widely anticipated that the Fed would leave its policy rate unchanged at 2.25-2.5%, the potential changes in the accompanying statement and the...
Dollar weakness remains the main focus in rather directionless markets today. The greenback suffered steep selloff last Friday on rumors that Fed would discussing cutting short the balance reduction process. And Dollar will face a number of key events...
Dollar ended last week as the weakest one after deep selloff before weekly close. A whole lot of events are scheduled ahead to keep the greenback busy. Those include FOMC rate decision, US-China trade talk, non-farm payrolls. Also, the...
Yen traders broadly lower today as risk appetite extends from Asia markets to Europe and then US. Dollar is following as the second weakest and then Swiss Franc. Meanwhile, New Zealand, Australian and Canadian Dollars are the strongest one....
Sterling surges broadly today on rumors that Northern Ireland's DUP has privately agreed to conditional support to Prime Minister Theresa May's Brexit deal. The Pound is also the strongest one for the week. While there are still a lot...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +6.7 mmb to 1267.11 mmb in the week ended January 18. Crude oil inventory soared +7.97 mmb to...
The ECB meeting evolved as we had expected: more dovish, downgraded assessment on economy, leaving unchanged the forward guidance on interest rates. the central bank has acknowledged that the uncertainties in the global economy have intensified and can persist...
Euro has been under broad based pressure today after PMIs suggest more weakness in the economy ahead. The common currency then spikes further lower ECB President Mario Draghi sounds rather cautious and downbeat in the post meeting press conference....
European majors are trading generally higher today as Eurozone will take the center of stage. There are worries of deeper and longer than expected slowdown in the Eurozone economy. PMIs from Germany, France and Eurozone will provide some hints...
As widely anticipated, BOJ voted 7-2 to leave left the policy rate unchanged at -0.1% in January. All other policies also remained intact: purchases of JGBs at a pace of 80 trillion yen/ year and maintenance of 10-year JGB...
Sterling is the star performer today as campaign to block no-deal Brexit in the UK gathers momentum. Some upside acceleration is seen after the Pound takes out near term resistance against Dollar, Euro and Yen. New Zealand Dollar is...
Risk sentiments stabilized in Asia today despite the selloff in US overnight. But so far, momentum for rebound in stocks is very weak. Major indices are stuck in right range between gains and losses, in particular in China and...
Mild risk aversion is the main theme in the financial markets today. Selloff started in Asia, in particular in China, and spread to European session. Japan 10-year JGB yield also turned negative again. In the currency markets, Australian Dollar...
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