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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 15:22

EBC In the News (Reuters) - CANADA FX DEBT-C$ hits a 4-week low as business curbs cloud U.S. economic reopening

Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the US dollar in the markets with Fergal Smith at Reuters.

Tags: exchange bank of canada , foreign exchange , featured in the news , reuters , fx , forex

Posted By Jacquelyn McMullen at 03:22 PM

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2020-06-26 10:54

EBC In the News (Financial Post) - U.S. dollar rises as surge in coronavirus cases boosts haven bid

Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the US dollar in the markets with Gertrude Chavez-Dreyfuss.

Tags: exchange bank of canada , foreign exchange , featured in the news , financial post , fx , forex

Posted By Jacquelyn McMullen at 10:54 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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