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2019-02-19 08:15

USD trading mixed ahead of quiet start to holiday shortened week

• USDCAD holding 1.3230-40s as April crude struggles with $56 handle.
• EURUSD on the defensive following technical selling and more weak European data.
• GBPUSD continues to shake off Brexit negativity since Friday’s sharp rebound. Theresa May and Juncker to meet tomorrow.
• Dovish RBA Minutes sees AUDUSD slip further off Monday’s highs. Wage data, employment, Lowe on deck this week.
• More accommodative talk from the BOJ’s Kuroda helping to lift USDJPY earlier, but gains now fading.

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

Posted By Jennifer Danuff at 08:15 AM

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2019-02-15 08:15

EURUSD trades lower as the negative European headlines continue to mount

• Spain calls for snap elections in April. Italy’s Borghi bringing back euro-skeptic vibes.
• ECB’s Couere admits economic slowdown broader and stronger than expected. TLTROs still possible.
• UK Retail Sales beat expectations for January, but Brexit fears continue to weigh. 42 days to go.
• AUDUSD stuck in familiar range with 0.7100 now the pivot.
• USDCAD also pivoting at 1.3280s following yesterday’s failed breakout and crude oil’s recovery back above 54.50.
• USDJPY trying to regain 110.50s after yesterday’s negative NY close. S&P futures +11.

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

Posted By Isabella Guevara at 08:15 AM

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2019-02-14 08:15

US Retail Sales and Canadian Manufacturing Shipments disappoint by a wide margin

• USD sees broad selling across the board, but CAD underperforming even further.
• Swift selling hits the S&Ps and crude oil.
• GBPUSD struggles to benefit as fears loom ahead of some Brexit amendment votes today.
• AUDUSD wrestles with 0.7110 pivot.
• EURCAD working on bullish daily reversal while USDCAD threatens break of daily downtrend.
• China reports upbeat export growth in January. Trump considering 60-day extension of tariff deadline.

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

Posted By Jennifer Danuff at 08:15 AM

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2019-02-13 08:15

Slightly hotter than expected US CPI figures adds to "risk-on" tone for the broader markets

• US January CPI +1.6% YoY vs +1.5% exp. Core CPI +2.2% YoY vs +2.1% exp.
• Mnuchin says talks with Chinese negotiators are going “so far so good”.
• USDJPY extends gains with break above 110.50s. S&Ps +10.
• AUDUSD unravelling NZDUSD driven pop; market back below 0.7110s.
• EURUSD in the process of giving back yesterday’s gains following upbeat US CPI.
• GBPUSD unwinding flow-driven pop higher around 7amET.
• USDCAD rebounds from overnight lows, but chart resistance and EURCAD cross sales weigh.

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

Posted By Jennifer Danuff at 08:15 AM

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2019-02-12 08:15

Snap-back in oil prices prevents USDCAD from breaking higher

• Saudi Arabia expects to reduce oil production further, starting in March. Crude oil +2.2%.
• Somewhat bearish OPEC Monthly Oil Report being brushed off.
• EURUSD shakes off negative comments from the ECB’s Weidmann; defends 1.1270s chart support.
• GBPUSD bounces after the BOE’s Carney reaffirms desire to modestly tighten monetary policy over time.
• AUDUSD finds bid after USDCNH fails at chart resistance.
• USDJPY pulling off highs on broad USD weakness + BOJ tweak to JGB purchases, but S&Ps well bid.

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

Posted By Jennifer Danuff at 08:15 AM

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2019-02-11 08:15

USD starts the week with quiet bid

• USDCAD stuck within Friday’s range post Canadian employment report, but downtrend still being threatened.
• EURUSD now down for the 6th consecutive session after the 1.1340s give way again.
• AUDUSD slips below support as USDCNH goes bid after the Chinese markets reopen.
• GBPUSD underperforming after weak Friday NY close + weaker than expected UK economic data today.
• USDJPY breaks higher out of last week’s range.

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

Posted By Isabella Guevara at 08:15 AM

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2019-02-08 08:15

Two-day USDCAD rally pauses ahead of Canadian jobs report

• Traders expecting just 8k jobs gained in Canada for January.
• Italian Industrial Output figures miss expectations. BTP/Bund spread widens further and pressures EUR.
• Sterling buyers defending 1.2930-40s support after Carney’s post Brexit optimism yesterday’s saves GBP.
• AUDUSD slumps further after dovish RBA Statement of Monetary Policy, but recovering now with broad USD sales.
• USDJPY extremely quiet in overnight trade.

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

Posted By Jennifer Danuff at 08:15 AM

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2019-02-07 08:15

Bank of England holds rates steady. Optimism for a smooth Brexit lifts GBPUSD from kneejerk lows.

• GBPUSD tests support in 1.2850 post BoE press release. Now working on bullish reversal.
• EURUSD succumbs to further weakness following weak German Industrial Production + slash in European growth forecasts from EC.
• AUDUSD on the defensive following slip below 0.7120s.
• USDJPY trapped in 109.60 to 110.10 range.
• USDCAD building on yesterday’s regain of the 1.3180s regain. Trades now fading resistance ahead of Canadian jobs report tomorrow.

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

Posted By Isabella Guevara at 08:15 AM

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2019-02-06 08:15

Shock dovish turn in Australian monetary policy outlook punishes AUD

• RBA’s Lowe abandons long held “next move is up” rate bias and shifts to neutral outlook.
• USDCAD rallies in sympathy, but crude oil bounce off overnight lows now putting 1.3180-90s to the test.
• EURUSD holds trend-line support despite poor German Factory Orders data for September.
• Theresa May talking Brexit in North Ireland again today. Market still reeling from May’s speech yesterday.
• USDJPY goes offered during Trump’s divisive State of Union address, but buyers step in at 109.60s support.
• Canadian Building Permits (8:30amET) , BoC Lane speech (8:35amET) , weekly EIA oil inventories (10:30amET) on deck today.

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

Posted By Jennifer Danuff at 08:15 AM

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2019-02-05 08:15

Reserve Bank of Australia delivers less dovish than expected hold on interest rates

• AUDUSD rallies, but chart resistance in the 0.7260-70s confines market to recent range.
• March crude oil fails to regain $55 in overnight trade. Falling 1% now and helping USDCAD find buyers.
• EURUSD wrestling with 1.1420s pivot after decent European Services PMIs + ECB headlines about TLTROs (Italy friendly).
• GBPUSD lagging after UK Services PMI misses estimates. Theresa May meeting Juncker on Thursday.
• President Trump delivers State of the Union address tonight at 9pmET.

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

Posted By Jennifer Danuff at 08:15 AM

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