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2020-02-21 08:15

South Korean COVID-19 cases double. European flash PMIs beat, but skewed to upside.

Asian session shows mild risk-off flow as conoravirus news flow is negative once again.
Tone improves in European trade following February flash PMI beats for Germany/Eurozone.
IHS Markit’s Chris Williamson says numbers skewed to the upside by supply chain disruptions.
Canadian Retail Sales for December come in mixed. Headline misses but core measure beats.
EURUSD holding 1.0790s. GBPUSD back up to 1.2940-50s on UK flash PMI beat.
AUDUSD losses 0.6610s support. USDCAD still stuck in 1.3220-60s range. JPY no longer a safe-haven?
US flash PMIs up next at 9:45amET, with 51.5 expected for Manufacturing and 53.0 expected for Services.

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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2020-02-20 08:15

Markets spooked by jump in South Korean & Japanese coronavirus cases

Number of new cases soars to 104 in South Korea and 92 in Japan today.
China reports 16th straight day of declines in new cases outside Hubei province.
USDCNH breaks higher. USDJPY continues “sell everything Japan” surge higher.
Overnight risk-off tone helps USD broadly but post Philly Fed reaction brings about selling.
US Philly Fed for February beats on the headline but misses on employment/prices paid sub-components.
Australian January employment report showed unexpected 0.1% rise in unemployment rate.
Pan-European flash February PMIs + Canadian Retail Sales for December due 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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2020-02-19 08:15

More positive headlines out of China propel risk sentiment higher again

• Daily increase in new coronavirus cases outside Hubei province declines again in China.
• Beijing considering cash infusions and mergers for airline industry + LPR rate cut tomorrow.
• US PPI for January comes in much hotter than expected, +0.5% MoM vs +0.1%.
• Headline Canadian for January CPI beats consensus, but core and common measures fail to impress.
• UK CPI for January beats YoY on the headline, but MoM and core measures miss.
• USD broadly in demand going into NY open. EURUSD still under pressure. USDJPY explodes higher.
• Japan could become the largest hotspot for coronavirus infections outside of China (Bloomberg).

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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2020-02-18 15:30

EBC In the News (CNBC) - Nasdaq turns positive as Apple cuts losses

Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the global markets in response to the coronavirus with Fergal Imbert at CNBC.

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

Posted By Jacquelyn McMullen at 03:30 PM

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2020-02-18 08:15

Apple warns due to coronavirus. German ZEW for February misses expectations.

Apple issues revenue warning for March quarter. ZEW Economic Sentiment 8.7 vs 21.5 expected.
RBA Minutes: CORONAVIRUS A "MATERIAL" RISK TO OUTLOOK FOR CHINA ECONOMY, AND THUS AUSTRALIA.
Global markets waking up to looming economic impact from coronavirus outbreak.
China continues to report daily decline in new cases outside Hubei province.
Sterling outperforms on UK employment report + confirmation of March 11 UK budget date.
Canadian Manufacturing Sales (Dec) misses while NY Fed Manufacturing (Feb) survey beats.
President Trumps tweets: THE UNITED STATES IS OPEN FOR BUSINESS, wants to make it EASY to do business with USA.

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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2020-02-14 15:07

EBC In the News (The Globe and Mail) - Canadian dollar climbs to 11-day high on hopes virus impact will fade

Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Canadian dollar in response to the coronavirus with Fergal Smith at the Globe and Mail.

Tags: news , exchange bank of canada , featured in the news , canadian dollars , fx markets , the globe and mail

Posted By Jacquelyn McMullen at 03:07 PM

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2020-02-14 08:15

Markets hopeful that Thursday's coronavirus spike in China was a "one-off" event

Traders largely shrug off last night’s continued uptrend in Chinese coronavirus cases/deaths.
Moderate risk-on from Asia deteriorates in early European trade though. US yields tick lower.
US reports slightly weaker than expected Retail Sales and Industrial Production for January.
US yields and USD downtick again post US data. Fed’s Mester up next at 11:45amET.
Spike in March crude oil above 51.80 helps CAD outperform, but 1.3240 in USDCAD still holding.
Buyers fail twice at 1.3040-50 resistance in GBPUSD over the last 24hrs.
Canadian and US markets closed on Monday for Family Day and President’s Day holidays.

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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2020-02-13 08:15

Coronavirus case count surges in China after “clinically diagnosed” cases now included

Official infections are now 15,152 higher than yesterday, bringing total to 59,804 as of Feb 13. Deaths now top 1,367.
Hubei removes two top health officials. Biochemical weapons expert, major general Chen Wei, now in charge.
Foxconn factories have not restarted. Hubei work suspension extended to at least Feb 20. Wartime residential lockdown starts in Dawu County.
Global markets go risk-off in Asia, but recover during European/early NY trade as traders seemingly give China the benefit of the doubt.
US reports slightly higher CPI figure for January, +2.5% YoY vs +2.4% on the headline. +2.3% vs +2.2% for Core CPI.
Sterling surges following resignation of UK finance minister Sajid Javid.
Speculation now swirling about big fiscal stimulus announcement in March UK budget.
EURUSD keeps falling as 1.0860s support gives way. Risk recovery + US CPI helping. Nothing positive out of Europe.
CAD, AUD and CNH all bouncing as well, leaving yesterday’s USDCAD dip buyers disappointed.

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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2020-02-12 08:15

Hawkish rate hold from RBNZ + more coronavirus optimism leads risk sentiment higher again

Reserve Bank of Zealand upgrades economic outlook and OCR projections while holding rates steady.
NZDUSD rallies 1%, lifting AUDUSD higher and dragging USDCAD lower.
China now reporting 44,653 coronavirus infections, but today’s 2015 increase was lower than yesterday’s 2,478.
Risk-on sentiment continues in European trade, with USDJPY’s brief surge above 110 helping.
Oil traders shrugging off bearish APIs and predictable China demand downgrade in monthly OPEC Oil Market Report.
USDCAD uptrend buyers now being put to the test at 1.3240-60 support zone.
EURUSD meanders in low 1.09s as large option expiries & Powell “Round 2” looms at 10amET.
Weekly EIA oil inventory report come out at 10:30amET, with traders expecting +2.987mln barrel build.

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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2020-02-11 08:15

Slower rate of coronavirus infection today helps risk sentiment overnight

Only 2,478 new cases of the coronavirus confirmed today in China versus 3,062 new cases yesterday.
China’s Zhong Nanshan says “this event may be over in something like April”.
USD broadly lower overnight on risk-on sentiment, now lower again following Powell speech text.
Fed chairman to speak before US House Financial Services Committee at 10amET.
EURUSD trying to regain 1.0910s after losing the support level earlier. USDCAD still pivoting around 1.3300 level.
AUDUSD trying to break above 0.6710s. Over 1.9blnAUD in options expire at 0.6700 strike tomorrow.
GBP outperforming following upbeat UK GDP data for December and Q4 2019.

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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