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2020-07-02 08:15

USD regains some composure ahead of US jobs data

• Month end flows + positive US data propels USD lower over last 48hrs.
• Wide consensus estimate range on deck now for US Non-Farm Payrolls report.
• Large EURUSD option expiries feature post payrolls at 1.1250 and 1.1300 strikes.
• Over 1.8blnAUD expiring at 0.6895 in AUDUSD. 1blnUSD for USDJPY at 107.50.
• Cunliffe’s pushback on negative UK rates helps sterling rally this week.
• US markets closed tomorrow in observance of US Independence Day holiday.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Sharlene Figueroa at 08:15 AM

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2020-06-30 08:15

Month / quarter / half-year end flows in focus

• USD bid on “risk-off” through Europe, but now falling into NY options cut / London fix.
• Two large topside option expiries in play for EURUSD (1.1240s) and AUDUSD (0.6900).
• Dollar demand noted at yesterday’s London fix. Flows into 11amET could be erratic.
• Lots of Fed-speak on deck afterwards, but no surprises expected. Powell at 12:30pmET.
• Chicago PMI for June misses consensus estimate, 36.6 vs 45.0 vs 32.3 previously.
• Canadian GDP -11.6% in April. Canadian markets closed for Canada Day tomorrow.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Sharlene Figueroa at 08:15 AM

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2020-06-29 08:15

USD finding bids again to start holiday week

• Traders shrug off negative COVID headlines from the weekend as usual.
• Weaker USDCNY fix + topside EURUSD expiry adds to USD weakness overnight.
• Risk tone takes negative turn at NY open though, now sees USD broadly higher.
• RBA’s Debelle + Chinese PMI on deck tonight. Powell speaks tomorrow.
• US ISM/ADP reports + FOMC Minutes for Wed while Canada closed for holiday.
• US Non-Farm Payrolls features for Thursday. US markets closed on July 3.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Anne Beaubrun at 08:15 AM

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2020-06-26 08:15

USD trading quietly bid ahead of the weekend

• New coronavirus infections hit daily record of almost 40k yesterday.
• Equity markets get late lift from Volcker Rule ease on US banks.
• Large option expiry at 1.1200 keeping EURUSD offered, broader USD bid.
• Month-end EURGBP demand being blamed for sterling weakness.
• Lots of BOE-speak on deck for next week + Brexit negotiations resume.
• Calendar also features US ISM, NFPs, China PMIs + two North American holidays.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Anne Beaubrun at 08:15 AM

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2020-06-25 08:15

US COVID case counts back in focus

• Record breaking 36k rise in new US cases ignites “risk-off” flows yesterday.
• Relatively less worse California stats this morning sees risk sentiment bounce.
• US Jobless Claims increase more than expected for the 2nd week in a row.
• Fitch takes away Canada’s AAA credit rating with sovereign debt downgrade.
• USDCAD testing upper end of recent price range. EURUSD loses 1.1240s.
• USDJPY de-couples from US yields. GBPUSD loses 1.2440-60 support zone

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Sharlene Figueroa at 08:15 AM

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2020-06-24 08:15

US considering new tariffs on $3.1 billion of EU/UK goods

• Bloomberg story, citing USTR notice, knocks risk sentiment during European AM.
• Broader USD now recouping most of yesterday’s losses into NY trade.
• Yesterday’s post Navarro pump to risk sentiment + European PMIs long forgotten.
• This morning’s better than expected German IFO also brushed off by EURUSD traders.
• EUR back on 1.12 handle, GBP eyeing 1.2440-60 support, AUD pivoting on 0.6910s.
• More bad COVID-19 news coming out of California. Weekly EIA report out at 10:30amET.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Anne Beaubrun at 08:15 AM

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2020-06-22 08:15

Markets shrug off COVID fears once again

• Risk sentiment opens weaker in Asia, recovers over European morning.
• USD bid at Sunday open, now retreating into NY trade. Risk currencies leading.
• Net long EUR fund position gallops to 14-week highs as shorts cover post Powell.
• Funds dramatically purge AUDUSD net short position during week ending June 16.
• Global economic calendar is quiet this week, just European flash PMIs tomorrow.
• BOC’s Macklem speaks at 11amET today. BOE’s Bailey speaks tomorrow morning.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Anne Beaubrun at 08:15 AM

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2020-06-19 08:15

Euro/dollar volatility leading USD flows after EU Summit

• EURUSD rallies initially after positive soundbites from Merkel & von der Leyen.
• “Frugal Four” countries don’t sound nearly as optimistic on EU recovery fund deal.
• Euro subsequently falls back, dragging the USD higher across the board.
• Bearish head & shoulders pattern continues to play out on EURUSD daily chart.
• GBPUSD continues lower, however USDCAD & AUDUSD still stuck in familiar ranges.
• USDJPY bid but following US yield skepticism over S&P rally this morning.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Anne Beaubrun at 08:15 AM

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2020-06-18 08:15

BOE increases QE by 100mlnGBP, but doesn't rule out NIRP

• GBPUSD pops 50pts as QE amount was less than some really dovish forecasts.
• BOE’s new year-end target for QE also means less weekly buying of Gilts.
• Bailey hedges recovery outlook, says NIRP “a complex” issue. GBP then plunges.
• Weaker than expected US Jobless Claims overshadows Philly Fed beat.
• GBPUSD sales and mild US-data driven risk-off flows propelling USD higher now.
• USDCAD still stuck in familiar range. BOC’s Schembri to speak at 1:30pmET.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Sharlene Figueroa at 08:15 AM

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2020-06-17 08:15

USD bullish reversal stalls yesterday, but "risk-off" vibes still linger

• Traders re-focused on negative coronavirus updates out of Texas, Florida, Beijing.
• Geopolitical risk also still present with North Korea/South Korea, India/China tensions.
• EURUSD toying with bearish head & shoulders pattern once again this morning.
• USDJPY shackled to $1.1bln option expiry 107.25. Can volatility return afterwards?
• Canadian CPI miss/OPEC monthly report fail to inspire. Australian jobs report tonight.
• Bank of England expected to increase QE tomorrow. EU Summit on deck Thursday/Friday.

Tags: currency news , usd , gbp , eur , cad , foreign currency market analysis , currency market rates

Posted By Anne Beaubrun at 08:15 AM

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