Tue, Sep 22, 2020 @ 14:13 GMT
After a big move in August, the RBNZ will likely leave the OCR unchanged at 0.25% and the cap of Large Scale Asset Purchase (LSAP) unchanged at NZD 100B. It is, however, expected to offer more indication on the...
Key Highlights EUR/USD found support near 1.1750 and recovered above 1.1820. A major bearish trend line is forming with resistance near 1.1850 on the 4-hours chart. GBP/USD is facing a strong resistance near the 1.3000 region. USD/JPY extended its...
According to the Make UK/BDO Manufacturing Outlook Q3 survey, balance on investment intentions fell to -32% from -26% in the last quarter. Output and orders improved but were still way below historic averages. There were significant cuts to investment...
As suggested in the CFTC Commitments of Traders report in the week ended September 15, NET SHORT for USD Index futures increased +2 482 to 8 240 contracts. Speculative long positions slipped -97 contracts and short positions gained +2...
According to the CFTC Commitments of Traders report for the week ended September 15, NET LENGTH for crude oil futures added +378 contracts to 449 744 for the week. Speculative long position rose +11 868 contracts, while shorts also...
Yen ended up broadly as the strongest one last week, extending this month's rebound. Domestically, political uncertainty was cleared with Yoshihide Suga took up the job of Prime Minister, ensuring continuity of Abenomics. Externally, geopolitical risks at the South...
U.S. Review First Impressions Are Not Always Right On the face of things, it was a disappointing week for economic data. Almost every report this week was on the wrong side of expectations. Relative to consensus estimates, gains fell short,...
U.S. Highlights The Federal Reserve is not likely to increase interest rates until at least end-2023, however, this has not been enough to quench investors' thirst for more liquidity. Retail sales strengthened for the fourth straight month this August,...
The federal government will deliver one of the most highly-anticipated throne speeches in recent memory on Wednesday - amid a slowing economic rebound and rising COVID case counts. Though not an economic blueprint, it will lay out Ottawa’s vision...
With lack of macroeconomic events this week, headlines are likely to rule the markets. Last week, the US Fed, BOJ and the BOE provided little new information in terms of each Central Bank’s monetary policy.  Ultimately, all three central banks...
The US stock market has staged a meteoric comeback, raising concerns about whether we are experiencing an asset bubble in the middle of a recession. While there is clearly a sharp disconnect between markets and economic reality, there are...
The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been...
Minneapolis  Fed President Neel Kashkari explained in an article the reasons for his dissent to the latest FOMC statement. He said, "I would have preferred the Committee make a stronger commitment to not raising rates until we were certain...
Retail sales edged up 0.6% in July, 2.7% above year-ago levels Most physical storefronts have now re-opened Preliminary estimate for August sales +1.1%, but the pace of retail growth clearly slowing after initial bounce-back The 0.6% increase in retail...
Yen picks up some upside momentum again today while the forex markets continue to flip-flop elsewhere. Australian Dollar turn softer, followed by Canadian and Swiss Franc. Kiwi is the second strongest next to Yen, followed by Sterling and Dollar....
Canada retail sales rose 0.6% mom to CAD 52.9B in July, below expectation of 0.8% mom. Growth was led by higher sales at motor vehicles and parts dealers and gasoline stations. Core retail sales dropped -1.2% mom. StatCan said...
NZDUSD is clashing with the 0.6789 to 0.6800 resistance band following its latest climb from 0.6600, which produced a 17½-month high. The recent pickup in the 50- and 100-period simple moving averages (SMAs) suggest further appreciation in the pair,...
Cable steadies above thick daily cloud and just ticks below psychological 1.30 barrier in early European session on Friday. Sterling quickly recovered from over 100-pips dip on Thursday after the BOE announced preparation for possible introduction of sub-zero rates, boosted...
As the week rolls, thankfully, into Friday, the noise level in financial markets continues to be high enough to warrant a visit from the local council but has yet to coalesce into a chorus we can all sing and...
USDCAD has somewhat paused after the pullback from the near 8-month low of 1.2993. The rebound in the price appears to be resting on the mid-Bollinger band at 1.3131, shadowed by a governing bearish structure. The dictating downward sloping...
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