Mon, Apr 22, 2019 @ 04:09 GMT
Political deadlock in Italy was broken last week as President Mattarella approves the new cabinet after the euro-sceptic finance minister candidate, Paolo Savona, was replaced by Giovanni Tria. Tria supports that Italy should remain in the Eurozone, despite his...
Australian Dollar remains the strongest one today as helped by strong risk appetite. At the time of writing, TSE is trading up 0.55%, DAX up 0.25% and CAC Is up 0.33%. US futures also point to another day of...
Australian dollar opens the week higher as lifted by stronger than expected retail sales today. That's followed by Euro as the second strongest as European political risks receded. As sentiments improved, Yen stays soft against all others, followed by...
Traders added more bets for higher USD, as suggested in the CFTC Commitments of Traders report in the week ended May 29. Net LENGTH for USD Index (DXY) futures added +1 338 contracts to 3 924. During the week, the DXY...
According to the CFTC Commitments of Traders report for the week ended May 29, net LENGTH for crude oil futures fell -25 558 contracts to 607 828. Net LENGTH for heating oil futures added +2 729 contracts to 45...
It was a roller coaster week with political turmoil in Italy dominated the first half of the week. The formation of the populist Italian government after acceptance by President Sergio Mattarella marked the end of the episode. Trade war...
Dollar surges in early US session after non-farm payroll report beat market expectation on all front. The job market grew 223k in May, above expectation of 190k. Unemployment rate dropped to 3.8%, beat expectation of 3.9%. That's also the...
Trade war is the dominate theme for the market at the moment after US starts to impose steel and aluminum tariffs on its closest allies in Canada, Mexico and the EU. The move drew strong criticism from these countries...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks increased +1.76 mmb to 1194.01 mmb in the week ended May 25. Crude oil inventory dropped -3.62 mmb (consensus: -0.53 mmb)...
Euro has been strong most of the day as Italian political risk temporarily receded. Stronger than expected Eurozone CPI reading also provided some support to the common currency. But it's Yen that's taking the spotlight again in early US...
The forex markets are mixed today so far. Easing concerns over Italy political turmoil calmed markets temporarily. But the situation is not solve yet. Meanwhile, the upcoming decision on US steel tariff temporary exemption could turn sentiments around again....
Canadian dollar recorded the biggest one-day rally in two months after BOC’s more hawkish- than- expected statement. Policymakers turned less concerned over the economic outlook. As such, they dropped the words “cautious” and “over time” in the accompanying statement,...
Euro recovers broadly today as markets digest the over-stretched decline. Negative sentiments over Italian political turmoil recedes mildly as there is revived hope of a non-anti-euro government. Italy 10 year yield pull back below 3% handle while German bund...
In our report last week, we pointed out that monetary policy divergence between the Fed and other major central banks has re-emerged since April. While economic developments in the first several months of the year have reinforced FOMC’s commitment...
Italy political turmoil and trade tensions are weighing on market sentiments on two fronts. Italy will now likely go into a snap election soon. And the eurosceptic parties will frame that as referendum on Euro membership. US President Donald...
While Euro remains the worst performer for today, selling slowed and it recovered much ground as in early US session. Investors seemed to be calmed by Five Star leader Di Maio's facebook comment that he never see leaving the...
(Updated on 0230 GMT, May 30) 10-year Italy-Germany yield spread jumped further to 2.83%, highest since 2013, on May 29. Hopes of forming a populist coalition government in Italy hit the rocks as President Sergio Mattarella rejected eurosceptic Paolo Savona’s...
Yen is staying strong today and it's extending recent rally. Falling major European and US treasury yields and risk aversion are the main factors. German 10 yield bun yield closed at 0.353% yesterday's concern. That's nearly half of this...
Euro is back under broad based selling pressure after an ex-IMF official accepted the mandate to form an interim government. While traders were relieved that the anti-establishment eurosceptic coalition government couldn't be formed, they're now facing uncertainty of a...
Bank of Canada (BOC) would most likely leave its policy rate unchanged at 1.25% in May. Following two rate hikes in 2017 and one more in January this year, BOC has kept its powder dry since then. In April,...
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