Sun, Aug 25, 2019 @ 20:16 GMT
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -10.14 mmb to 1298.4 mmb in the week ended July 25. Crude oil inventory slumped -8.5 mmb to...
Fed announced to lower the policy rate by -25 bps to 2-2.25% in July. US dollar jumped while Wall Street declined although the decision came in widely anticipated. The market was probably disappointed by the lack of commitment of...
Dollar continues to trade with a soft tone in early US session. Job data from US is slightly better than expected. US-China trade negotiations concluded in Shanghai without any concrete progress. But traders' minds remain on FOMC rate cut...
Dollar trading generally lower today as markets await Fed's highly anticipated rate cut. Though, the greenback is just the second weakest. New Zealand Dollar is the worst performing one for today so far on deteriorating business confidence. Swiss Franc...
Sterling remains the overwhelmingly weakest one on no-deal Brexit concerns. New Prime Minister Boris Johnson is pushing EU to re-open Brexit negotiation. But there is no sign from EU on a position shift yet. Australian and New Zealand Dollars...
Selloff in Sterling remains the focus in Asian session today, as markets are adding their best to no-deal Brexit. The currency markets are relatively quiet elsewhere. Canadian Dollar is currently the second weakest, then Euro. Yen and Swiss Franc...
We expect BOE to leave the Bank rate unchanged at 0.75% and keep the size of the asset purchase program at 435B pound. Heightened risk of no-deal Brexit, downside risks to economic outlook, market pricing of a rate cut...
Sterling drops broadly today as the new government is starting step up their hard line rhetorics on Brexit. Australian and New Zealand Dollar are also weak as markets await US-China trade negotiations that start tomorrow. Expectations for the talks...
Yen opens the week broadly higher, following mild risk aversion in Asian markets. Traders are turning cautious ahead of FOMC rate decision, a string of worldwide economic data, as well as resumption of US-China trade negotiations. Swiss Franc is...
We expect the Fed to announce a rate cut of -25 bps, bringing the Fed funds rate target to 2-2.25%, this week. Yet, this decision is unlikely unanimous. Although there has been voice suggesting a deeper cut is needed,...
Dollar ended as the strongest one last week as boosted by solid economic data from the US. While markets are still pricing in full chance of a Fed rate cut this week, strong data argue against the chance of...
According to the CFTC Commitments of Traders report for the week ended July 24, NET LENGTH for gold futures gained +5 749 contracts to 251 250. Speculative long positions rose +2 346 contracts, while shorts fell -3 403. For...
As suggested in the CFTC Commitments of Traders report in the week ended July 24, NET LENGTH in USD Index gained +1 796 contracts to 29 128. Speculative long positions gained +5 766 contracts while short positions added +3...
Dollar rises notably in early US session after stronger than expected US GDP data. The solid data rises further question on whether Fed would really cut interest rate next week. Even so, a -50bps cut is basically out of...
As trade tensions between Japan and Korea evolve, the latest development is that Japan is preparing to remove Korea from its “white list”. Countries in the list can enjoy preferential treatment on trade with minimum retractions. The move marks...
Dollar turns mixed in Asian session today but remains the strongest one for the week. Recent economic data from US, including yesterday's durable goods orders, have been solid, and raised some doubts on the need for Fed easing. Sterling...
The July ECB meeting aims at preparing the market for further easing in September. As expected, the members hinted that interest rate could fall to lower level. They also discussed about the possibility of restarting QE and the two-tiered...
After initial selloff, Euro quickly rebounds as ECB Mario Draghi's press conference is not as dovish as the statement suggests. September ECB decision could be live, depending on upcoming economic projections. For now, Euro is the strongest one for...
Monetary easing from central banks remain a major background theme in the markets. Euro is sold off this week as markets are preparing for dovishness from ECB today. While immediate policy action is not envisaged, President Mario Draghi is...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -6.687 mmb to 1308.54 mmb in the week ended July 19. Crude oil inventory slumped -10.84 mmb to...
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