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2019-01-18 08:15

Canadian December CPI reported +2.0% YoY and -0.1% MoM.

• USDCAD now challenging downside support following upbeat inflation figures.
• Broader USD trading modestly higher as mild “risk-on” sentiment remains post WSJ article.
• Wall Street Journal moved markets yesterday when it reported that the US is considering lifting China tariffs.
• Brexit Plan B in focus for Monday.
• US markets closed on Monday for Martin Luther King Day.

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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2019-01-17 08:15

Theresa May survives no-confidence motion. Brexit "Plan B" expected for Monday.

• OPEC releases monthly report. Downgrades 2019 demand forecast for oil from OPEC producers.
• USDCAD testing chart resistance levels in the low 1.33s. Canadian CPI out tomorrow.
• EURUSD downward momentum stalls after downside fail.
• USDJPY reaches 109.10s resistance, but now pulls back.
• US Philly Fed index beats estimates for January: 17 vs 10 expected.

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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2019-01-16 08:15

Sterling rebounds after Theresa May loses meaningful Brexit vote in UK Parliament

• Odds of a “no-deal” scenario appear to have diminished now however. Article 50 extension seems more likely (ie. Brexit delayed).
• No-confidence motion from Corbyn up next at 2pmET. Brexit “Plan B” expected from Theresa May by Monday.
• EUR and AUD slip further today amid an otherwise quiet tape.
• USDCAD trading quietly above 1.3250 support. Weekly EIA oil inventory data + Feb oil option expiry might shake things up.
• USDJPY inches higher amid broad USD buying and buoyant tone to US equity futures.

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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2019-01-15 08:15

Brexit D-day looms for sterling traders

• UK Parliament vote expected sometime between 2-4pmET.
• German 2018 GDP growth slowest in 5 years. Fears of recession growing.
• USDCAD holds familiar levels as broad CAD demand cancels out broad USD buying. Oil steady.
• AUDUSD backs off chart resistance in the 0.7220s.
• USDJPY bid following another round of Chinese stimulus, but S&Ps 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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2019-01-14 09:15

Dismal Chinese trade data sours risk sentiment to start week

• Chinese imports fall 7.6% YoY in December.
• S&Ps, oil and copper offered, while JPY and USD bid.
• Sterling moderately bid ahead of key Brexit vote in Parliament tomorrow.
• This week’s light economic calendar features US PPI (tomorrow) and Canadian CPI (Friday).
• US government shutdown continues. CFTC still cannot publish weekly FX futures positions report.
• This week’s US Retail Sales and US Industrial Production reports will also be delayed.

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

Posted By Isabella Guevara at 09:15 AM

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2019-01-11 08:15

Broader USD sees pressure ahead of US CPI report

• Traders expecting +2.2% YoY and -0.1% MoM on the headline.
• BREAKING: PBOC expresses concern on recent Yuan strength, according to MNI. Caps AUDUSD into NY trade today.
• EURUSD bid, but getting held back by option expiries at 1.1500.
• GBPUSD shoots higher after delay of Brexit now likely, according to Evening Standard.
• USDJPY directionless ahead of Japanese long weekend.
• USDCAD finds bid on PBOC headline + oil backing off $53 level.

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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2019-01-10 08:15

Dovish Fed speak sparks broad USD selling yesterday. More Fed officials speaking today, including Powell at noonET

• Bank of Canada disappoints the doves. Says rates will still need to rise “over time” despite softer growth and inflation outlook.
• Slew of dovish Fed speak, especially from Bostic propels EURUSD to new swing highs. Mild risk-off sentiment post US/China talks curtailing gains now.
• Sterling marred by Brexit headlines, Labour’s call for new elections.
• Aussie holding gains as USDCNH slips below 6.80.
• Dollar/yen on the defensive as more Fed speak looms.
• Powell speaks at 12pmET today.

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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2019-01-09 08:15

Bank of Canada rate decision looms large. Long fund positions praying for bounce after 6-day rout in USDCAD.

• BOC announcement at 10amET, followed by press conference at 10:15amET.
• EIA oil inventories and BOE’s Carney at 10:30amET.
• FOMC Minutes at 2pmET.
• Fed speak on deck throughout the morning from Bostic, Evans, and Rosengren.
• Canadian Housing Starts beat expectations for December.
• Official trade talk communiques from US & China expected tonight (Thursday morning China time)

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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2019-01-08 08:15

Traders eagerly awaiting comments from latest round of US/China trade talks + Trump speech at 9pmET

• Australian Trade and German Industrial Production figures miss expectations.
• UK Parliament resumes debate on Brexit today, with rumors circulating about the need to extend Article 50.
• Fifth day of strength in oil prices keeping USDCAD under pressure ahead of Bank of Canada meeting tomorrow.
• Canada reports November Trade deficit at -2.06bln, slightly worse than estimates.
• US Trade Balance figures will not be released due to the ongoing US government shutdown.

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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2019-01-07 08:15

USD inches lower in quiet start to week. Dovish comments from the Fed's Powell on Friday still on trader's minds.

• Powell “we will be prepared to adjust policy quickly to…keep the expansion on track.”
• USD reverses uptick from stellar US jobs report. Fed funds futures continue to price out 2019 rate hikes.
• US Non-Manufacturing report for December on deck at 10amET.
• This week’s calendar features Bank of Canada on Wednesday, another speech from Powell on Thursday and US CPI on Friday.
• US/China trade talks resume in Beijing today.

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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