Mon, Apr 22, 2019 @ 04:08 GMT
Markit/Caixin’s PMI report shows recovery in China’s economy in March. The composite output index rose to 52.9 in March, from 50.7 in the prior month. This marks the highest level since June 2018. While the manufacturing sector returned to...
Dollar trades generally higher today even though upside momentum is capped by weaker than expected durable goods report. Economic data released this week are so far mixed. But at least, they don't point to heightened recession risk. While long...
Australian Dollar trading broadly lower today after RBA kept interest rate unchanged. While there was no clear dovish shift, the statement suggests that RBA is starting to get ready for a move. Weakness in Aussie takes New Zealand Dollar...
Unsurprisingly, RBA left the cash rate unchanged at 1.5% for a 29th meeting. While the members acknowledged more downside risks on the economic outlook, they maintained the monetary policy forward guidance unchanged. However, Aussie weakened after the announcement, amidst heightened...
Global markets are generally in risk-on mode today as recession fears eased mildly after improvement in Chinese manufacturing data. While sentiments remain generally positive in early US session, there is a slight bit of cautiousness after disappointment retail sales...
Stock markets staged a strong rally in Asian session as lifted by better than expected manufacturing data from China. Both official and Caixin PMI manufactured climbed back into expansionary region, suggests that the worst could be over. Australian Dollar...
As suggested in the CFTC Commitments of Traders report in the week ended March 26, NET LENGTH in USD Index fell as both speculative long and short positions dropped. NET LENGTH for USD index slipped -650 contracts, to 25...
According to the CFTC Commitments of Traders report for the week ended March 26,  NET LENGTH for crude oil futures jumped +33 873 contracts to 448 619 for the week. Speculative long positions rose +25 989 contracts while shorts...
Intensifying recession fear was the main theme in the markets in March, alongside never-ending Brexit and trade tensions. With downside risks to growth starting to materialize, major global central banks started their dovish turns. Most notably, Fed now forecasts...
Canadian Dollar jumps sharply in early US session after stronger than expected GDP data. At least, the three month-rolling average remained in expansion despite the contraction in December and November. Additionally, WTI crude oil surged through recent resistance to...
The lack of momentum in economic activities would soon dent RBA's hope of higher household consumption (and eventually higher inflation), as a result of further decline in the unemployment rate. We expect the central bank to turn more cautious...
Yen is under some mild selling pressure today as China stocks lead Asian markets higher. While US 10-year yield failed to sustain above 2.4 handle overnight, it looks like recent decline has stabilized some what. And some more recovery...
Dollar rises broadly in early US session with help from rebound in treasury yields. 10-year yield is now trying to regain 2.4 handle. Poor Q4 GDP is ignored while traders could be hopeful on some progress in US-China trade...
The Brexit drama continues! What has recently happened has offered little help to clear the mist of the matter. Rather, Britons, as well as global investors, have become more uncertain about the outlook. On Wednesday, the UK parliament has...
The forex markets are relatively quiet as quarter end approaches. Sterling remains stuck in range as Brexit stalemate continues. The UK Parliament continued to tell the world what they don't want regarding Brexit, but not they really want. Meanwhile,...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks climbed +0.06 mmb to 1221.91 mmb in the week ended March 22. Crude oil inventory increased +2.8 mmb to...
Indicative votes on Brexit alternatives in the UK House of Commons will catch most attention ahead. Debate is due to start by 1500GMT. We'll see what alternative Brexit path could gain majority in the Parliament. House of Commons Speaker...
Selloff in New Zealand and Australian Dollar is the main theme in Asian session today. Kiwi plummets after RBNZ stands pat and indicates that the next move is a cut. After that, a full RBZN cut in priced in...
As we expected, RBNZ has turned more dovish in March. A more pessimistic view about the domestic and global economic outlook has led members to adjust their forward guidance on the monetary policy stance. The members now expect to...
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...
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