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2019-12-06 08:15

OPEC+ Said to Agree to 500k bpd Cut US & Canada Job Reports Up Next

• OPEC+ press conference imminent. Oil markets un-enthused.
• US expected to show +180k jobs created in November, +10k for Canada.
• Germany reports dismal Industrial Output numbers for October, but traders ignore.
• Jeremy Corbyn reveals secret document showing Boris Johnson “misled” voters on Brexit.
• Large option expiries in play today for USDCAD, EURUSD, GBPUSD and AUDUSD.
• USDCNH set for bearish weekly reversal.

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

Posted By Jacquelyn McMullen at 08:15 AM

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2019-12-05 08:15

Bank of Canada surprises market with less-dovish than expected assessment of global economy

• USDCAD plunges through 1.3260s…all the way down to 1.3180s. Uptrend now over.
• Bank of Canada’s Timothy Lane adds to USDCAD losses with hawkish tone on rate guidance.
• OPEC meeting now underway with rumors of 800k bpd “Saudi surprise” deepening of oil production cuts.
• EURUSD bounces, despite weak NY close. Rising US yields + option expiries supporting.
• GBPUSD trades to new 7 month highs, but option traders are hedging their bets for next week’s elections.
• AUDUSD succumbs to weak Australian Retail Sales print, rejects 0.6850s again.
• USDJPY dealing with 108.90s resistance as US yields continue higher, USDCNH falls back below 7.0500.
• US Factory Orders (Oct) out at 10amET, +0.3% expected.

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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2019-12-04 08:15

Bloomberg US/China article lifts risk sentiment into NY trade

• US, China Move Closer to Trade Deal Despite Heated Rhetoric, say “people familiar with the talks”.
• S&P futures, Chinese yuan, USDJPY, US yields, commodity currencies all higher.
• US ADP Employment Report (Nov) +67k vs +140k exp. Miss adds fuel to broad USD sales.
• Sterling surges higher on clean technical break above 1.3000 mark. Triangular consolidation foretold.
• AUDUSD hit by weak Australian QoQ GDP growth for Q3, but recovers on this morning’s broad “risk-on” bid.
• USDCAD uptrend now at risk, heading into a very busy 10amET hour.
• BOC rate decision, ISM Non-Manufacturing PMI, Trump speech, Quarles speech, weekly EIA oil report…all on deck.

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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2019-12-03 08:15

Trump: "it might be better to wait until after the 2020 election for the China deal"

• Trump makes this comment while speaking to reporters at NATO summit in London.
• Markets continue “risk-off” move from yesterday. S&Ps, yuan, USDJPY all lower.
• US yields playing catchup, plunge all the way back to 1.7550-1.77% breakout area.
• USDCAD uptrend intact, with move back above 1.3300. BOC meets tomorrow.
• AUDUSD rallies after RBA delivers upbeat hold to interest rates, but softer since Trump.
• GBPUSD breaks higher after polls show Tories regaining lead of Labour.
• Funds continued to buy USD broadly during week ending Nov 26.

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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2019-11-29 08:15

USD broadly higher to start holiday shortened session

US 10yr yields venture back above 1.77% to start NY trade, dragging USD broadly higher.
EURUSD falls further into 1.09s. AUDUSD swiftly back below 0.6770s. USDJPY higher again.
USDCAD rallies above 1.3300, but gets pulled back by better Canadian Q3 GDP numbers.
GBPUSD longs disappointed after yesterday’s failure to hold gains from YouGov MRP poll.
UK PanelBase poll shows Tories now just 8pts ahead of the Labour party.
Equity, interest rate, and FX futures markets close early today at 1:15pmET.

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

Posted By Ben Tidwell at 08:15 AM

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2019-11-27 08:15

US Durable Goods and Q3 GDP (2nd estimate) surprise to the upside

• US yields spike higher to 1.774% resistance. USD sees broad bid after numbers released.
• USDCAD struggling to benefit however, with mounting pressure on key 1.3260s support level.
• Large option expiries influencing EURUSD, GBPUSD, AUDUSD and USDJPY this morning.
• All eyes on the YouGov MRP election poll out of the UK at 5pmET today.
• AUD shrugs off horrible Chinese Industrial Profit data and a very bearish RBA call from Westpac.
• Weekly EIA oil inventory report out at 10:30amET. Last night's APIs were bearish.
• US markets closed for US Thanksgiving Day holiday tomorrow.

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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2019-11-26 08:15

RBA's Lowe brushes off QE and negative interest rate policy

• AUDUSD volatile, but survives another re-test of 0.6770s chart support.
• Xinhua reports phone call between China’s Liu and the US’ Lighthizer this morning.
• Both negotiators “reached consensus on properly resolving relevant issues” and agreed to stay in contact.
• US yields & USDJPY spike higher initially last night, but then fade.
• EURUSD crawling above 1.1010 trend-line support on US yield decline.
• GBPUSD lagging as latest polls show Tory lead over Labour declining to +11pts.
• USDCAD maintaining bid tone, with positive charts technicals supporting.
• Holiday shortened week will see liquidity die down around mid-day tomorrow.

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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2019-11-22 08:15

Sterling falls after UK flash PMIs for November miss expectations

• GBPUSD falls swiftly back below 1.2900. BOE rate cut chatter re-emerging.
• EURUSD sees some volatility after mixed German/Eurozone flash November PMIs.
• Chinese Global Times says “China will fight back and retaliate” is US raises tariffs.
• AUDUSD quiet as large 0.6795 option expiry looms. USDCNH bounces off 7.0290s.
• USDJPY still stuck, despite rush into German bunds + lower US yields this morning.
• Canadian Retail Sales slightly beat expectations, -0.1% MoM vs -0.1%. +0.2% vs +0.1% ex-Autos.
• USDCAD dips below 1.3270 support, but downside lacks momentum.

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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2019-11-21 08:15

Trading algos fall for positive US/China trade headlines overnight

• Bloomberg, Reuters and WSJ all out with positive sounding pieces.
• SCMP article now being debated, with broad USD buying returning into NY open.
• Hawkish ECB Minutes briefly lift EURUSD. Trend-line resistance in 1.1090s being challenged.
• Ipsos Mori poll shows Tories regaining lead at +16pts over Labour. GBPUSD breaks above 1.2940/50.
• New USDCAD uptrend defended with NY close + successful retest of 1.3300.
• AUDUSD struggles to regain 0.6815 level lost during yesterday’s risk-off move.
• USDJPY stuck, with 5blnUSD of option expiries below the market likely adding temporary support.
• Fed’s Mester and Bank of Canada’s Poloz now speaking.

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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2019-11-20 08:15

US/China trade sentiment deteriorates further. BOC's Wilkins shocks market.

• Trump threatens higher tariffs if China deal isn’t reached. Senate confirms Hong Kong Human Rights Bill.
• China angrily vows “forceful measures”. Markets go mildly “risk-off”, with USDCNH leading USD strength.
• Bank of Canada’s Wilkins shocks market with dovish speech yesterday.
• USDCAD upside breakout, to new uptrend, back in play. Canadian CPI (Oct) meets expectations.
• Weekly EIA oil inventory report at 10:30amET, +1.54M barrels expected. FOMC Minutes at 2pmET.
• Boris Johnson/Jeremy Corbyn debate deemed to be a draw.
• USDJPY hanging on to 108.50s support, with option expires likely helping.

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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