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2019-10-11 08:15

Surge in Brexit & China deal optimism leads to broad "risk-on" flows. Canada reports blowout jobs number.

• GBP continues its “pathway to a possible deal” surge following “constructive” Barnier/Barclay meeting today.
• Expectations high for some sort of mini deal or truce on the US/China trade front. Trump/Lui He meeting at 2:45pmET.
• Canada reports +53.7k jobs gained in September vs +10k expected. Wage growth higher. Unemployment rate lower.
• EURUSD riding on the coattails of GBPUSD, breaks above 1.1025-1.1040 chart resistance zone.
• AUDUSD rallied overnight as well, but now stalls as “risk-on” move takes a breather. USDCNH holding 7.0920s.
• USDJPY meeting sellers at 108.40s as US 10yr yields stall into NY trade.
• Canadian markets closed on Monday for Thanksgiving holiday.

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

Posted By Rachel Butler at 08:15 AM

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2019-10-10 08:15

Whose head is spinning?

• Conflicting US/China trade headlines make overnight trading chaotic. Risk-on now in full effect though after NY open.
• US 10s back above 1.60%. German bunds back above -0.50%. Positive US/China trade headline on the way?
• USDJPY surging back above 107.50. Gains stalled for AUD and CNH however.
• EURUSD rallies past 1.1000 on gold buying earlier, but ECB Minutes and 1.1020s now capping.
• Sterling traders watching Boris Johnson's meeting with Irish PM today. Market back below 1.2230-40.
• US CPI and UK Industrial/Manufacturing Output figures disappoint.
• USDCAD stuck in familiar range, but with buyer failure now recorded above 1.3330s.

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

Posted By Mandee Myers at 08:15 AM

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2019-10-09 08:15

Powell announces the need to add more bank reserves, but it won't be QE.

• Powell: “Time is now upon us” for Fed to expand balance sheet.
• Powell: “Growth of balance sheet for reserve purposes should not be confused with QE”.
• Global markets in better mood following some positive US/China trade headlines.
• USDJPY and CNH are the biggest benefactors today, but AUD and CAD lag.
• GBP shoots higher on Times report about “major EU concession” on Irish backstop.
• EURUSD regains 1.0965-1.0975 trend-line support channel.
• Powell to speak again at 11amET.

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

Posted By Mandee Myers at 08:15 AM

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2019-10-08 08:15

Negative Brexit & US/China trade headlines hit risk appetite

• US blacklists 28 Chinese tech companies. China says “stay tuned” for retaliation strikes.
• Chinese delegation might cut Washington trip short this week. Vice Premier not “special envoy” (SCMP).
• GBP tanks after Boris Johnson tells Angela Merkel Brexit is “essentially impossible” after German leader toughens stance on North Ireland.
• S&Ps, crude oil and USDJPY sag in broad “risk-off” move, while bonds, Eurodollar futures and gold benefit.
• USDCAD benefits mildly from risk-off flows, but chart technicals continue to suggest a range trade for the moment.
• Canadian Housing Starts beat expectations for September. US PPI disappoints. Fed Evans to speak at 1:30pmET. Powell at 2:30pmET.

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

Posted By Mandee Myers at 08:15 AM

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2019-10-07 16:31

EBC In the News (Reuters) - Canadian dollar keeps to narrow range as oil rally fades

Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Canadian dollar against the US dollar and upcoming trade negotiations with Fergal Smith at Reuters.

Tags: news , exchange bank of canada , featured in the news , us dollars , reuters , fx markets

Posted By Jacquelyn McMullen at 04:31 PM

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2019-10-07 08:15

China increasingly reluctant to agree to a broad trade deal with the US

• Markets go mildly “risk-off” at the Sunday open, but recover. US/China talks to resume on Thursday.
• November crude oil rallies 1% back above $53, pressures USDCAD into NY open.
• EURUSD shakes off weak German Industrial Orders data, trade back above 1.0970s.
• AUDUSD succumbs to technical selling following EUR-driven break below 0.6750s, trying to recover now.
• GBPUSD bounces off 1.2290s again. Boris Johnson says Brexit ball in EU’s court.
• USDJPY trying to regain 106.90s, but need less dovish Fed-speak/higher US yields to inspire.
• Canadian Employment Report on deck this week + lots more Fed-speak.

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

Posted By Mandee Myers at 08:15 AM

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2019-10-04 08:15

Traders bracing for weak US September NFP numbers

• Market expecting +145k jobs created, but chatter suggests it could be even less.
• “Fed rate cut trade” poised to end the week on a high note after weak US data.
• EURUSD and AUDUSD knocking at chart resistance, while USDJPY searching for support.
• USDCAD continues to show mixed reaction. Offered on negative headlines but bid on “risk-off”.
• Boris Johnson has one week to make EU better offer on Irish backstop.
• Larry Kudlow speaking at 9:30amET. More Fed-speak ahead, including Powell at 2pmET.

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

Posted By Mandee Myers at 08:15 AM

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2019-10-02 15:22

EBC In the News (Reuters) - Dollar falls vs yen, euro, tracking U.S. stocks, yields

Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the US dollar and data from ADP the U.S. payrolls processor with Gertrude Chavez-Dreyfuss at Reuters.

Tags: news , exchange bank of canada , featured in the news , us dollars , reuters , fx markets

Posted By Jacquelyn McMullen at 03:22 PM

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2019-10-02 08:15

Dismal US ISM report invigorates Fed rate cut trade

Bonds, Dec Eurodollars futures, gold and JPY all continue to trade higher.
US ADP Employment Report for Sep misses expectations: +135k vs +140k.
August ADP job gains revised lower by 38k.
EURUSD resumes higher after blip lower from IFO’s German GDP downgrade.
GBPUSD shakes off disappointing UK Construction PMI for Sep.
USDCAD regains 1.3220s chart support, led by EURUSD sales initially, then EURCAD buying.
Weekly EIA oil inventory report out at 10:30amET. Markets expecting +1.567M barrel build.

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

Posted By Mandee Myers at 08:15 AM

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2019-10-01 08:15

Reserve Bank of Australia cuts interest rates for the third time this year

• RBA cuts rates by 25bp to 0.75%, leaves door open for more cuts. AUDUSD falling hard.
• USDCAD benefits from AUD sales. Weak Canadian GDP growth for July helping.
• EURUSD trying to bounce after slightly better than expected final Manufacturing PMI out of Germany.
• GBP market doesn’t appear to have faith in Boris Johnson’s new Irish border proposal.
• Poor JGB auction in Japan spokes Japanese bond market. Lifts US/German yields and USDJPY.
• US Manufacturing ISM for September on deck at 10amET. Traders expecting 50.1.

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

Posted By Mandee Myers at 08:15 AM

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