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2019-04-18 08:15

Poor German and Eurozone Manufacturing PMIs sees broad demand for USD today.

• EURUSD falls through chart support in the 1.1270-80s.
• GBPUSD follows the Euro lower. Bounce from better UK Retail Sales data proves short lived.
• Australia reports better than expected job growth for March, but EURUSD sales weigh on AUD.
• US & Canadian Retail Sales figures up next at 8:30amET.
• Option expiries and pre-Easter liquidity could lead to choppy price action to end the week.
• North American and European markets closed tomorrow for the Good Friday holiday.
• European markets closed on Monday.

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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2019-04-17 08:15

Upbeat Chinese data boosts copper and commodity currencies. Canadian CPI for March up next.

• Chinese Industrial Production & Retail Sales data for March plus Q1 GDP all beat estimates overnight.
• AUDUSD knocking on door of 0.7190-0.7200 resistance, where over 1.5blnAUD in options also expire today.
• USDCAD under pressure with crude oil bid compounding the losses. Canadian March CPI expected +1.9% YoY.
• Weekly EIA oil inventory report out at 10:30amET. Consensus expects 1.7M barrel build. Last night’s APIs were bullish.
• GBPUSD trying to reclaim 1.3050s support as EURGBP breakout falters. UK March CPI misses expectations.
• Fed’s Beige Book report out at 2pmET.
• Australia reports March employment figures at 9:30pmET tonight.

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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2019-04-16 08:15

USD trading mixed into NY trade. US Industrial Production up next.

• EURUSD choppy with both dovish and hawkish ECB headlines. German ZEW survey for April comes in mixed.
• GBPUSD feeling the pressure as EURGBP longs reassert themselves. UK employment report meets expectations.
• AUDUSD falls after dovish RBA Minutes, then rallies after Mccraan article.
• USDCAD rallies to 1.3390s post dovish Business Outlook Survey, but has since struggled.
• USDJPY fails to benefit from more gold selling and further S&P gains.
• US March Industrial Production up next at 9:15amET. May crude oil options expire today.
• China reports Retail Sales, Industrial Production, and Q1 2019 GDP tonight at 8pmET.

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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2019-04-15 08:15

Bank of Canada's quarterly Business Outlook Survey in the cross hairs

• USDCAD traders anxiously await report at 10:30amET, as market loses chart support in the 1.3330s.
• EURUSD and AUDUSD mildly bid in quiet start to the week.
• GBPUSD knocking on the door of 1.3115-25 chart resistance. UK parliament now on Easter break.
• Tomorrow’s calendar features German ZEW, Canadian Manufacturing Shipments, and US Industrial Production.
• North American and European markets will be closed on Friday for the Good Friday holiday.

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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2019-04-12 08:15

Massive M&A flows in EURJPY spurs broad risk-on wave across global markets

• EURJPY surges around 4amET. Stocks, commodities and all major currencies shoot higher against the USD and JPY.
• China reports better than expected export growth for the month of March (+14.2% YoY vs +7.3%).
• China New Loans for March +1,690bln vs +1,200bln expected.
• US Michigan Consumer Sentiment Index out at 10amET. Traders expecting 98.0 for April.
• Bank of Canada’s Timothy Lane speaking at 2pmET.
• Latest leveraged fund positioning data from the CFTC out at 3:30pmET.

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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2019-04-11 08:15

Brexit day extended to Oct 31. Swift move lower in gold prices driving broad USD strength into NY trade

• EU grants UK six month extension to ratify Brexit withdrawal agreement. GBP directionless.
• June gold prices tumbling back below 1310 into NY trade.
• USDCAD probes above chart resistance zone in the 1.3360-70s.
• International Energy Agency cites “mixed signals” for oil demand growth for the rest of 2019.
• EURUSD and AUDUSD on the hunt for buyers once again.
• USDJPY recovers back above Fibo support in the 111.10s.
• Five Fed member speeches on deck today, plus the BOC’s Wilkins at 1pmET.
• US PPI for March beats expectations (+2.2% YoY vs +1.9%).

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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2019-04-10 08:15

Super Wednesday kicks off with bullish OPEC supply news, mixed US CPI and a dovish Mario Draghi

• Weekly EIA oil inventory report up next at 10:30amET. FOMC Minutes at 2pmET. Emergency EU Summit underway re: Brexit.
• Mario Draghi speaking to reporters following latest ECB decision to keep monetary policy unchanged.
• EURUSD reversing lower. AUD following suit. USDCAD regains the 1.3330s.
• USDJPY clinging to support in the 111.10s.
• China reports March CPI figures tonight at 7:30pmET.

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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2019-04-09 08:15

Trump announces $11bln in new tariffs against the EU

• EURUSD little fazed on the headlines. Market bid above 1.1270s, with massive option expiries adding weight.
• GBPUSD pops on rumors of Germany being amenable to a 5yr time limit on Irish backstop, then fizzles when reports denied.
• AUDUSD builds upon gains, after breaking out above the 0.7105 level yesterday. Copper rally supporting.
• USDJPY on the defensive once again as Japanese investors sell the Nikkei. Key support at 111.15 being put to the test.
• USDCAD trying to bounce off trend-line support in the 1.3280s after Libyan tension sparks oil rally.

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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2019-04-08 08:15

USD trades broadly lower to start week

• EURUSD shorts at CME at new 32 month high ahead of the ECB policy meeting this Wednesday.
• Brexit April 12th deadline looms. Theresa May to meet Germany’s Merkel ahead of emergency EU summit on Wednesday.
• AUDUSD riding coattails of EURUSD and copper rally to start week. Move back above 0.7105 supportive technically.
• USDJPY slumps lower after swift reversal lower in the Nikkei during Asian trade.
• USDCAD leaking lower amid broad USD selling. Both Canadian Housing Starts and Building Permits miss expectations, but traders yawn.
• US March CPI and FOMC Minutes on deck this week.

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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2019-04-05 08:15

It's the 1st Friday of the month. That means payrolls!

• Traders expecting +180k jobs gained in the US for the month of March, and just 1k gained in Canada.
• Consensus expects +3.4% MoM wage growth in the US and +2.2% MoM for Canada.
• USDCAD and USDJPY toying with upside breaks of chart resistance.
• GBPUSD lagging after Theresa May proposes another short Brexit extension to June 30.
• EURUSD and AUDUSD trading range-bound.

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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