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2018-12-12 08:15

Theresa May now looking likely to survive today's no-confidence motion

• Reuters reporting 158 MPs now publicly supporting the UK PM ahead of 1pmET vote. Results expected at 4pmET.
• Bloomberg reporting Italy will present 2.0% budget deficit target to EU today. Italy’s Conte to meet EU’s Juncker at 10amET.
• USDCAD succumbing to EUR and GBP gains. Weekly EIA oil inventory report on deck at 10:30amET.
• AUD stuck in the mud in low 0.72s.
• USDJPY dealing with chart resistance zone 113.35-55, while S&Ps trade 1.3% higher.
• US CPI for November matches expectations of +2.2% YoY.

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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2018-12-11 08:15

Theresa May heads back to Brussels in last ditch attempt to renegotiate Brexit deal

• Higher than expected UK wage growth also helping GBP sentiment this morning.
• Risk sentiment improves globally today following positive trade headlines from China, pressures USD broadly.
• EURUSD waffles around sub 1.1400 ahead of Conte’s meeting with Juncker tomorrow.
• USDCAD backs off 1.3415 resistance, with US stocks and crude oil bid.
• AUDUSD trying again to correct higher.
• US core PPI beats expectations.

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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2018-12-10 08:15

Sterling collapses as Theresa May now rumored to cancel tomorrow's Brexit vote

• Theresa May expected to speak at 10:30amET. GBPUSD falling to new lows on the year.
• USDCAD trying to bounce as oil traders fade Friday’s highs.
• EURUSD traders anxiously await Wednesday’s Italian budget revision.
• AUD in the green this morning, but bearish outside week recorded on the charts.
• USDJPY rallies strongly off overnight lows, with Japanese Q3 GDP contraction supporting.

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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2018-12-07 08:15

OPEC can't yet agree on size of production cuts. US & Canadian November job reports in focus.

• US payrolls are expected +200k. Canada +11k.
• Oil prices bid as OPEC delegates and Russia continue to meet.
• Option expiries in play for EURUSD, AUDUSD and USDJPY today.
• Brexit vote still scheduled for next Tuesday. Option traders paying more for calls vs puts.
• Italians to send revised budget to EU next Wednesday.

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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2018-12-06 08:15

Bank of Canada shocks market with dovish turn in tone

• Bank of Canada now concerned about energy sector, trade spats, Q4 growth, sees room for non-inflationary growth.
• Governor Stephen Poloz now speaking.
• OPEC looks set to cut oil production by just 1mln barrels per day; below market expectations. Press conference awaited.
• US ADP jobs report misses expectations.
• US Non-Manufacturing ISM at 10amET. Weekly EIA oil inventory report at 10:30amET.
• November US and Canadian employment reports on deck for tomorrow.

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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2018-12-05 08:15

Risk sentiment mildly recovers ahead of US market closure

• US stock and bond markets closed for George H.W. Bush’s funeral.
• Bank of Canada expected to leave rates unchanged at 10amET. Weekly EIA oil inventory report delayed to tomorrow.
• Sterling continues to whipsaw ahead of next week’s historic Brexit vote in parliament.
• UK government found in contempt of parliament; forced to publish Brexit legal advice.
• Australian Q3 GDP misses expectations.

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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2018-12-04 08:15

China's PBOC revalues Yuan higher by the most since June 2017

• USD sees broad selling overnight, but market recovering somewhat now.
• USDCAD succumbing to bullish trade and oil headlines to start week. December seasonals mildly bearish. BoC meets tomorrow.
• Sterling pops on ECJ opinion about Britain’s legal ability to revoke Article 50.
• AUD struggling to benefit much from Yuan surge. Sunday chart gap looms.
• USDJPY collapses on drop in US yields and yield inversion fears.
• US stock and bond markets closed tomorrow for national day of mourning for President George H.W. Bush.

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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2018-11-29 08:15

Dovish turn from Powell hurts USD broadly. US rates downtick, but US stocks celebrate

• Fed's Powell says interest rates now “just below” neutral.
• Reports of Russia willing to join OPEC on production cuts helps oil prices bounce, hurting USDCAD rebound attempt.
• EURUSD continues to hold gains after yesterday’s bullish outside day.
• Sterling back on the defensive after reported month-end EURGBP buying flows. Theresa May agrees to live debate ahead of Dec 11th Parliament Brexit vote.
• AUDUSD teasing shorts with breakout after explosive move higher post Powell.
• USDJPY traders trying to figure out what do after Powell’s dovish comments, following divergent reactions from stock and bond traders.
• G20 Leaders Summit begins tomorrow.

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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2018-11-28 08:15

All eyes on Fed chairman Powell today

• EURUSD on the defensive after hawkish Clarida comments and German auto tariff headlines.
• USDCAD rises on broad USD strength and wave of oil selling. Traders eyeing 1.3320-40 resistance.
• Sterling bounces as Theresa May reportedly backs down from quarrels with UK Parliament ahead of Dec 11th vote.
• Negative momentum in AUDUSD has stalled.
• USDJPY longs in charge.
• US Q3 GDP (2nd read) matches expectations at +3.5% YoY. Q2 was 4.2%. Q1 was +2.2%.
• Weekly EIA oil inventory data at 10:30amET. Fed’s Powell to speak at 12pmET.

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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2018-11-27 08:15

Volatile overnight session sees USD trading mixed into NY trade

• Excitement from Trump/Xi agreement headline gets dialed back.
• Brexit sentiment turns sour once again. UK Parliament vote now scheduled for Dec 11th.
• Fed’s Clarida sounding hawkish in speech now underway.
• More Fedspeak on deck from Bostic, Evans and George later today.
• Fed’s Powell speaks tomorrow.

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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