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  • (News by tags)
    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 expi...

    ...ines (better than expected US June Manufacturing ISM, positive revision to May ADP job report, Pfizer/BioNtech COVID-19 vaccine news) saw another wave of broad USD sales come in, but the selling was muted against CAD (perhaps because of the Canada Day holi...

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

  • (News by tags)
    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 e...

    ...ntiment miraculously recovered into the NY close again yesterday, it’s looking shaky again this morning as traders digest news of fresh lockdowns for parts of the UK and Australia (Leicester and Melbourne) and headlines about global opposition to Chi...

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

  • (News by tags)
    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...

    ... EU “on Australia terms” if no deal on their future relationship is reached and, while this was technically weekend news that didn’t affect the market all that much at the Sunday open, traders appeared to pile on the negative Brexit bets ...

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

  • (News by tags)
    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.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    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.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    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 fo...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY N...

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

  • (News by tags)
    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 awa...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    US considering new tariffs on $3.1 billion of EU/UK goods

    ... 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.

    ...RUSD 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.   ANALYSIS USDCAD The bro...

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

  • (News by tags)
    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 dramatica...

    ...gled for the rest of the day on Friday as the US 10yr yield trekked below the 0.70% level into the NY close.  We think the news about Apple closing some US stores again due to COVID-19 spikes was a contributing factor, but more than that, we think the...

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

  • (News by tags)
    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 he...

    ...ike for 10amET.    Today’s EU Summit ended without a consensus on the EU recovery fund and, while this news wasn’t negative for EURUSD at first, the negative soundbites which followed out of Denmark, Sweden and the Netherland...

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

  • (News by tags)
    BOE increases QE by 100mlnGBP, but doesn't rule out NIRP

    • GBPUSD pops 50pts as QE amount was less than some really dovish forecasts. • BOE’s new year-end target for QE also means less weekly buying of Gilts. • Bailey hedges recovery outlook, says NIRP “a complex” issue. GBP then plunges. • Weaker than expec...

    ...orida reported more concerning coronavirus statistics, you could feel the marketplace’s desire to once again fade the bad news.  We think EURUSD’s inability to breakdown meaningfully below the 1.1240 support level also played a part in USD...

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

  • (News by tags)
    USD bullish reversal stalls yesterday, but "risk-off" vibes still linger

    • Traders re-focused on negative coronavirus updates out of Texas, Florida, Beijing. • Geopolitical risk also still present with North Korea/South Korea, India/China tensions. • EURUSD toying with bearish head & shoulders pattern once again this morning....

    ... The US dollar was on its way to achieving a bullish reversal across the board yesterday after some more worrying coronavirus news emerged out of Texas, Florida and Beijing; prompting the latter the shut down schools again and re-lockdown residential com...

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

  • (News by tags)
    Risk sentiment gets big boost over last 24hrs

    • Fed to buy individual corporate bonds as part of new SMCCF program. • Trump administration seeking $1trillion infrastructure plan (Bloomberg). • US Retail Sales for May beat expectations big time, +17.7% MoM vs +8.0%. • S&Ps spike 3% higher following ...

    ...en the purchases under its Secondary Market Corporate Credit Facility (SMCCF) to include individual corporate bonds.  This news triggered broad USD selling from 2pmET in the NY close, which in turn dragged USDCAD below the 1.3580-90s chart support lev...

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

  • (News by tags)
    Traders shrugging off negative coronavirus headlines

    • Risk sentiment bounces late Friday, then again in Europe this morning. • USD higher in Asia, but now lower into NY trade. AUDUSD fills Sunday gap. • Funds reduce USD longs against CAD, AUD, GBP during week ending June 9. • EURUSD net long position at...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    Risk sentiment recovers overnight

    • US 10s regain 0.66% into NY close, PBOC sets much lower than expected USDCNY fix. • USD sales gather momentum into early European trade despite weak UK/EU data. • Powell may have short term bottomed the USD, but medium term trend is still lower. • Tra...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY U...

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

  • (News by tags)
    Powell screwed it up

    • Risk sentiment initially pops after FOMC’s press release. USD longs puke against risk currencies. • Fed to increase QE/repo, rates on hold until 2022, SEP showed “V” recovery in 2021. • Powell then downplays SEP, last week’s NFP report, cites many ...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    US yields and USD continue slump ahead of FOMC meeting

    • US 10yr yield now erases almost half of last week’s gains. Keeping USD offered. • Traders expecting update to Fed’s position on yield-curve-control (YCC). • Fed will also release Summary of Economic Projections, first time since February. • Markets ...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    China warns its students about studying in Australia

    • News follows China’s advisory’s to avoid Australian travel due to COVID-19 racism. • Markets go risk-off at start of European trade, with AUDUSD sales leading. • Another higher than expected USDCNY fix set the USD bid tone in Asia last night. • USD no...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    Will the Fed hint at yield curve control this week?

    • Traders debating this following Friday’s post NFP spike is US 10yr yields to 0.95%. • Broader USD now focused on US yields, bid in Europe today as US 10s re-test 0.93%. • Offered into NY trade as US 10s dip back below 0.90%. FOMC meeting on Wednesday....

    ... expected Non-Farms Payrolls Report for the month of May (+2.5M jobs gains vs -8.0M expected).  While this was the kind of news that would normally see the USD selloff in a stock market-driven “risk-on” sort of move, it also saw US bond yi...

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

  • (News by tags)
    USD choppy ahead of May Non-Farm Payrolls report

    • More USD longs stopped out in early European trade after quiet Asian session. • Traders are expecting 8M jobs lost in the US, jump in the unemployment rate to 19.7%. • Canadian Employment Reports expected to show -500k jobs, 15.% unemployment rate. • ...

    ...USD’s malaise ahead of the upcoming NFP report at 8:30amET, but we’re quite dumbfounded why EURGBP can’t rally on this negative news. GBPUSD DAILY GBPUSD HOURLY EURGBP DAILY AUDUSD The Australian dollar managed to reco...

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

  • (News by tags)
    EBC In the News (Reuters) - CANADA FX DEBT-C$ sticks near 3-month high as stimulus measures weigh on greenback

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    ECB increases PEPP by 600blnEUR, extends program to June 2021

    • Italian bonds love the news as the BTP/Bund yield spread plunges 20bp to +174bp. • EURUSD pops above 1.1230-50 resistance zone, but now falling as Lagarde speaks. • Broader USD going bid as EURUSD falls back. Markets ignoring US Jobless Claims. • USD...

    ...t real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY Italian bonds love the news as the BTP/Bund yield spread plunges 20bp to +174bp. EURUSD pops above 1.1230-50 resistance zone, but now falling a...

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

  • (News by tags)
    USD bounces after PBOC fix/OPEC news. Bank of Canada up next.

    • PBOC sets higher than expected USDCNY fix. USDCNH bounces, leads USD off lows. • BTP/Bund spread widens back above +190bp ahead of tomorrow’s ECB meeting. • Tomorrow’s OPEC+ meeting in doubt after Saudi/Russian displeasure with quota cheating. • US A...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    USD takes another leg lower after China denies US purchase halt

    • China’s foreign ministry says it has no information on directed halt to US soybean purchases. • China’s Global Times says “firms continue to purchase US soybeans in line with market rules.” • USD selling continues in early Europe as dollar loses more t...

    ...ed that it wasn’t worse than expected considering the very poor PMI figures released out of Chicago last week.  This news saw key USD support levels break on the charts against CAD (1.3680-1.3700), against AUD (0.6770), and against GBP (1.2410),...

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

  • (News by tags)
    Traders price-out some US/China risk since late Friday

    • Trump’s much anticipated press conference deemed soft on China by market participants. • Risk sentiment recovers late on Friday, spills over as upbeat mood in Asian trade overnight. • Mild USD returns after Bloomberg report about China pausing some US ...

    ...on non-UK factors since the third week on May (general risk-on from the Fed’s Powell, vaccine headlines, EU recovery fund news, and the unwinding of negative China bets), but we think there’s a risk of negative shocks returning on both the US/C...

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

  • (News by tags)
    USD volatile into month-end / Trump press conference

    • USD extends losses overnight on month-end rebalancing flows, but now bouncing. • Early NY headlines from Pompeo/Kudlow/Trump remind traders of today’s China event risk. • USDCAD trying to regain 1.3780s. AUDUSD backs off 0.6670s. EURUSD retreats off ...

    ...n around the NY close.   Canada just reported some better than expected GDP data for March and Q1, but this is old news and we feel that the modest bounce in USDCAD since then has been more driven by some Pompeo and Kudlow headlines hinting at...

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

  • (News by tags)
    USD continues post-Pompeo slide after better US data

    • Dollar goes bid yesterday after Pompeo confirms Hong Kong no longer autonomous from China. • PBOC sets another weaker than expected daily USDCNY fix in a bid to stabilize the yuan. • Markets celebrating another week-over-week decline in number of new U...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    European Commission proposes 750blnEUR rescue package

    • Announcement boosts EURUSD above 1.10 figure, compresses BTP/Bund yield spread further. • Two thirds of the package now proposes grants vs loans, but “Frugal Four” countries must ratify. • UK’s Brexit negotiator Frost delivers some discouraging comment...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    Bearish US/China bets unwound as UK/NY traders return

    • Hong Kong’s Carrie Lam says “no need for us to worry” re: security law. • US has not retaliated against Hong Kong and China after last week’s threats. • Traders also citing continued lockdown-easing headlines for today’s “risk-on”. • S&Ps +2%. July W...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    USD trading mixed amid competing headlines on a holiday Monday

    ...7-week state of emergency. USDCNH steady. • Recent USDCAD longs & AUDUSD shorts looking a tad vulnerable. Need more negative news. • Bank of Canada’s Stephen Poloz to deliver lecture at 1:30pmET. Powell speaks on Friday.

    ...rgency.  USDCNH steady. Recent USDCAD longs & AUDUSD shorts looking a tad vulnerable.  Need more negative news. Bank of Canada’s Stephen Poloz to deliver lecture at 1:30pmET.  Powell speaks on Friday.    ...

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

  • (News by tags)
    Traders freak as China set to impose new Hong Kong security law

    • Headlines crossed during NY trade yesterday, confirmed during China’s NPC last night. • All eyes on Trump as he warned yesterday that the US would react “very strongly”. • Hang Seng plunges 5.5%. USDCNH surges above 7.1400. AUDUSD loses 0.6550s. • U...

    ...bsp; Canada just published its Retail Sales report for April and while the core numbers came in better than feared, this is old news and explains why USDCAD has barely reacted.   CANADA RETAIL SALES (MOM) (MAR) ACTUAL: -10.0% VS 0.3% PREVIOUUS...

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

  • (News by tags)
    Better European flash PMIs help repair risk sentiment after AFR report

    • Report from Financial Review hints at China going after Australia’s iron ore/coal exports. • USD bid in Asia with losses in AUDUSD leading. Trump tweet storm not helping. • Germany, France and Eurozone report better MoM reads for May flash PMIs. USD ...

    ...session today as traders digested negative US/China and Aussie/China developments against generally more positive May flash PMI news out of Europe.  President Trump’s tweet storm against Chinese Global Times Editor-in-Chief, Hu Xijin, set the sc...

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

  • (News by tags)
    Continued oil rally leads risk sentiment higher overnight

    • July WTI +2% after record 5M barrel draw in Cushing inventories (API). • Chinese oil demand “almost back to pre-virus crisis levels” (Bloomberg). • Japanese March Machinery Orders came in much better than expected. • RBNZ Governor Orr says he doesn’t ...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    Yesterday's optimism largely holding ahead of Powell / Mnuchin testimony

    • Risk sentiment surges on Powell interview, Moderna news, German/France recovery fund approval. • Aussie/China tensions increasing as AU barley tariffs now in place, beef imports still banned. • BTP/Bund yield spread compresses lower again at the start ...

    ...on twitter at @EBCTradeDesk or sign up here. SUMMARY Risk sentiment surges on Powell interview, Moderna news, German/France recovery fund approval. Aussie/China tensions increasing as AU barley tariffs now in place, beef imp...

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

  • (News by tags)
    Trade war fears return, but slightly better US data helps mend

    • US Commerce Dept to block Huawei from acquiring US-tech based semiconductors. • Chinese Global Times hints at retaliation against QCOM, CSCO, AAPL and BA. • EU/UK trade deal talks “have made very little progress”. Both sides “extremely divergent”. • ...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    Trump helps USD bid continue after Powell kills negative rate speculation

    • Powell removes dollar-negative yesterday; markets quickly refocused on escalating US/China tension. • President Trump adding to USD bid this morning with very critical comments towards China. • TRUMP SAYS WE COULD CUT OFF WHOLE RELATIONSHIP WITH CHINA ...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    USD heavy ahead of Powell

    ...after dismal NY closes yesterday against USD and EUR. • UK reports better than expected March and Q1 GDP data, but this is old news. • Australian Employment Report (April) on deck tonight at 9:30pmET.

    ... dismal NY closes yesterday against USD and EUR. UK reports better than expected March and Q1 GDP data, but this is old news. Australian Employment Report (April) on deck tonight at 9:30pmET. ANALYSIS USDCAD All of yesterda...

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

  • (News by tags)
    EBC In the News (Financial Post) - U.S. dollar falls as risk appetite rises, but sentiment tentative

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-top...

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

  • (News by tags)
    Risk sentiment pendulum swings on Aussie/China headlines

    • China bans beef imports from four Australian producers. AUD losses lead USD higher in Asia. • Chinese foreign ministry then confirms ban not related to Australian COVID-19 inquiry. • China also boosts US soybean/corn import forecast and waives tariffs...

    ...e trade pact and negotiating a new one that tilts the scales in Beijing’s favor.  Traders then quickly jumped on the news that China had banned imports from four Australian beef producers today, which account for 35% of total beef exports t...

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

  • (News by tags)
    Dollar in demand to start new week

    • Number of “risk-off” narratives for traders to chew on. Eurodollars flat. • European session selling in GBP, AUD and JPY leads the USD broadly higher. • Fed’s Powell expecting to kill negative rate speculation this Wednesday. • US CPI, Retail Sales, ...

    ...this Trump’s tweet which insinuated that the “horrible virus pandemic was inflicted on the USA” by China, and news that some coronavirus clusters have resurfaced in China and South Korea, there are lots of reasons to “sell risk&rdqu...

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

  • (News by tags)
    Negative US rate momentum continues ahead of US/Canada job reports

    • Fed Fund and Eurodollar curves now pricing in negative US rates for 2021. • What does the global bond market (global commercial banks) know that we don’t? • Official US and Canadian employment data for April up next at 8:30amET. • Top US and Chinese t...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    Larger than expected Chinese trade surplus boosts risk sentiment

    • China April Trade Surplus +45.34bln USD vs +6.35bln expected. Exports +3.5% YoY. • Saudi Arabia’s Aramco increases June official selling prices to Asian buyers by $1.40/barrel. • Australia reports larger than expected trade surplus for March, 10.6blnA...

    ...DCAD try to take out chart resistance in the 1.4160s into early Asian trade.   Some surprisingly positive economic news out of Australia and China then gifted the markets with some risk-on flows that carried over into European trade today.&nbs...

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

  • (News by tags)
    China calmly responds to US accusations

    • China’s Hua Chunying says Pompeo “cannot present any evidence”. • “We urge the U.S. to stop…stop thinking it can use tariffs as a weapon”. • PBOC sets weaker than expected USDCNY fix. Helps CNH and AUD bounce. • EURUSD continues fall on weak technica...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    German court hands ECB three-month ultimatum to justify bond purchases

    • Bundesbank to longer participate in asset purchase programs if ECB cannot demonstrate “proportionality”. • BTP/Bund spread blows out to +251bp. EURUSD loses 1.09 handle. Risk-off flows lift USD during 4amET hour. • Cooler heads prevailing into NY trad...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716.gvf Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    EBC In the News (Financial Post) - Dollar shines as renewed U.S.-China row sparks safe-haven flows

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    Pompeo and Trump dial it up a notch

    • Pompeo says “significant amount of evidence” exists COVID-19 came from Wuhan lab. • Trump says China “made a horrible mistake and didn’t want to admit it”. • China “intentionally concealed the severity” of the coronavirus pandemic (leaked DHS document)...

    Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716.gvf Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY ...

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

  • (News by tags)
    Could US/China Trade War 2.0 + another period of USD funding stress be upon us?

    • President Trump threatens new tariffs on China over handling of coronavirus. • China releases animated propaganda video, mocking US’ coronavirus response. • Chinese yuan selloff leads overnight risk-off move. AUDUSD punished. • USDCAD continues bounc...

    ...to do that." (Reuters).  Just wait until Trump sees this animated propaganda video from China’s official Xinhua news agency, released overnight, mocking the US’ coronavirus response.  See here from ABC News.   Today ...

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

  • (News by tags)
    Powell says "more" likely needs to be done. ECB press conference begins.

    • Fed keeps interest rates/asset purchases on hold, but concedes “more” likely needs to be done by Fed or Congress. • Trump threatens retaliation against China for handling of coronavirus; leads to broad USD bid during 8pmET hour. • Traders largely ignor...

      .cta { background-color: #003767; color: #FFFFFF; font-size:16px; padding: 8px; text-align: justify; } Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-8...

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

  • (News by tags)
    USD trading mixed ahead of FOMC meeting

    • Asia buys risk with month-end USD sales, oil bid, Aussie CPI beat, shrugged off Italy downgrade helping. • Europe re-buys USD ahead of US GDP release. GBP underperforms on month-end EURGBP demand. • US Q1 Advance GDP misses expectations, -4.8% vs -4.0...

    ...   All these flows started to reverse around 3-5amET this morning though and, while we can’t find an obvious news catalyst for this, we would note a number of analysts talking about the typical month-end demand for EURGBP from the German...

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

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    EBC In the News (CNBC) - Stocks jump 2%, putting the S&P 500 on track for its best month since 1974

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the markets with Fred Imbert at CNBC.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    USD trading lower again amid another risk-on wave

    • European equities and S&P futures higher. BTP/Bunds tighter. No obvious news catalysts. • USDJPY breaks below 107.00. AUDUSD challenging 0.6500 handle. EUR and GBP higher too. • Talk of month-end/pre-Golden Week flows, WTI oil bounce and more Austral...

    ...radeDesk or sign up here. SUMMARY European equities and S&P futures higher. BTP/Bunds tighter. No obvious news catalysts. USDJPY breaks below 107.00.  AUDUSD challenging 0.6500 handle.  EUR and GBP higher too. Talk of ...

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

  • (News by tags)
    EBC In the News (The Globe and Mail) - Canadian dollar strengthens as lockdown easing boosts risk appetite

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the markets with The Globe and Mail.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: the globe and mail,featured in the news,exchange bank of canada,fx,forex,foreign exchange

  • (News by tags)
    USD pressured on lockdown easing hopes

    • Traders focus on continued talk of plans to slowly reopen economies around the world. • Australia leading efforts with new COVID-19 tracking app. Italy to slowly re-open on May 4th. • Spain, France, UK and Canada expected to announce plans this week t...

    ... today though, which is probably driving the BOJ crazy.  Dollar/yen broke chart support in the 107.30s last night when the news broke, which then allowed traders to make a bee line for some large option bets at the 107.00 level, which just expired at ...

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

  • (News by tags)
    April flash PMIs miss across the globe. US Jobless Claims + EU Summit up next.

    • Early looks at April economic activity show weaker than expected contractions worldwide. • EU Summit has begun, but EURUSD traders not optimistic. Topside option expiries could support today. • US Jobless Claims (week ending April 18) up next at 8:30a...

      .cta { background-color: #003767; color: #FFFFFF; font-size:16px; padding: 8px; text-align: justify; } Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-8...

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

  • (News by tags)
    Global risk sentiment recovers as oil prices bounce

    • USO portfolio reshuffle helps take pressure of June WTI. Trump tweet now igniting 20% rally. • Trump instructs US Navy to shoot down Iranian gunboats if they harass US ships. • Australia reports higher than expected “preliminary” Retail Sales for Ma...

    ...ly contract along with the option to diversify into farther dated WTI contracts + other petroleum based derivatives.  This news alleviated yesterday’s fears about the world’s largest oil EFT going belly up (USO rallied into the NY close) a...

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

  • (News by tags)
    Where were you when the oil market died yesterday?

    • May WTI falls historic 305% yesterday to close at -$37.63/barrel. We were capturing screenshots! • June WTI loses $21.65 support after May went negative, continues -45% lower to $11.79 in Europe. • USDCAD rallies to extended top end of recent range (1...

    ...K reported some outdated employment data for February this morning (+172k jobs and +2.8% 3M/Y growth in wages), but this is old news and not nearly as important as fresh sentiment data, like the German ZEW we saw earlier.  The Bank of England’s ...

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

  • (News by tags)
    May WTI crashes 40% as nobody wants to take delivery

    • Physical oil traders, without access to storage, capitulating ahead of May futures expiry. • May WTI -40%. June WTI -12%. USDCAD regains 1.4100. S&P futures -2%. USD bid. • EURUSD range-bound but 4th weekly increase in fund net long position doesn’...

    ... close between the 1.0850s and the 1.0880s didn’t help, nor did a relatively subdued Asian session last night in terms of news flow.  European stocks initially opened higher this morning, but have since retreated with oil prices and another wide...

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

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    EBC In the News (CTV News) - Financial sector leads Toronto market higher, U.S. markets also trade up

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the markets with Ross Marowits at The Canadian Press.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: ctv news,the canadian press,featured in the news,exchange bank of canada,fx,forex,foreign exchange

  • (News by tags)
    COVID-19 patients respond well to Gilead's Remdesivir

    • STAT news outlet breaks news at NY close yesterday. Risk sentiment surges in Asia. • USDCAD decline made worse by bearish NY close back below 1.4100-1.4120s. • Europe opens with more negative tone following -6.8% YoY plunge in Q1 Chinese GDP. • Risk ...

    ...29-9716. Get real-time market coverage on twitter at @EBCTradeDesk or sign up here. SUMMARY STAT news outlet breaks news at NY close yesterday.  Risk sentiment surges in Asia. USDCAD decline made worse by bearish...

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

  • (News by tags)
    USD trading mixed after US data, but still lower vs European open

    • Asia goes “risk-off” with “hard-to-believe” Aussie jobs report adding weight. • ECB’s Schnabel says “ready to do more to avoid euro fragmentation”. Risk recovers. • US Philly Fed survey for April misses expectations, -56.6 vs -30.0. Worst read since ...

    ...terday, and while it announced new provincial and corporate bond purchase programs, the USDCAD market largely shrugged off this news.  It’s almost as if FX traders are numb to  everything central banks do now…we know they’re go...

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

  • (News by tags)
    Risk aversion is back with a vengeance

    • Trump halts funding to World Health Organization while review is conducted. • Australia reports horrible Westpac Consumer Sentiment number for April. • Germany mulls extending lockdown to May 3rd. IEA releases negative monthly report. • There was “no...

    ... analysts have been saying this for a couple days now, it seems broader risk sentiment finally woke up to this reality when the news broke around the 3amET hour.  The S&P futures fell 2%, the US 10yr yield backed up by about 5bp, May WTI dropped b...

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

  • (News by tags)
    EBC In the News (CTV News) - North American stock markets resume climb despite another drop in oil prices

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the markets with Ross Marowits at The Canadian Press.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: ctv news,the canadian press,featured in the news,exchange bank of canada,fx,forex,foreign exchange

  • (News by tags)
    USD trades mixed overnight, now offered into NY trade

    • Competing narratives sees USD fall further in Asia, but recover during European AM. • EURUSD now trying to break above 1.0950s resistance. GBPUSD breaching 1.2560s. • AUDUSD on the defensive after achieving 0.6430-50s target, but 0.64s still holding. ...

      .cta { background-color: #003767; color: #FFFFFF; font-size:16px; padding: 8px; text-align: justify; } Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-8...

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

  • (News by tags)
    OPEC+ agrees to historic production cut, but oil traders not impressed

    ...• Saudi Arabia & Russia to cut from 11mln bpd April baselines. Mexico allowed to cut by just 6%. • Oil markets unimpressed as news largely priced in + falls way short of demand drop from COVID-19. • Nikkei fell 2.3% today. USDJPY losses 108.50s support...

    ... & Russia to cut from 11mln bpd April baselines.  Mexico allowed to cut by just 6%. Oil markets unimpressed as news largely priced in + falls way short of demand drop from COVID-19. Nikkei fell 2.3% today.  USDJPY losses 108.5...

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

  • (News by tags)
    US & Canadian job data to kick off big day ahead for markets

    • US Jobless Claims and Canadian Employment Report up first at 8:30amET. • Jerome Powell to speak via webcast hosted by the Brookings Institution at 9amET. • OPEC+ meeting commences to commence at 9amET. Eurogroup reconvenes at 10amET. • ECB releases m...

    ...t 7:30amET this morning.  Full details here, but unfortunately there’s not much to glean here in terms of new “news” in our opinion.  We would note the continued widening of the 3-month EURUSD cross currency basis swap this morn...

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

  • (News by tags)
    EU finance ministers fail to agree upon rescue package

    • Eurogroup meeting suspended until tomorrow after Italian/Dutch feud re: deal phrase. • EURUSD option traders not worried though. Risk sentiment now recovering. • Canada reports weak March Housing Starts and February Building Permits data. • UK PM Bor...

    ...ad USD sales into NY trade.   Canada just reported some poor 2nd tier economic data (see below).  This is old news, but is nonetheless leading to some mild CAD under-performance here we feel.   CANADIAN HOUSING STARTS FA...

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

  • (News by tags)
    Viral optimism leads risk sentiment higher over last 24hrs

    • S&P futures up 10% in 24hrs, US 10yr yields up 10bp, USDCAD falls below 1.4000. • Japan’s soft emergency declaration + confident RBA rate hold adds to “risk-on”. • Focus turns to today’s European and US coronavirus updates + Eurogroup meeting. • UK PM...

    ...quo;s health again this morning after reports circulated late yesterday about the UK Prime Minister entering an ICU.  This news saw GBPUSD break below yesterday’s chart support in the 1.2210s.  Broad “risk-on”, USD sales helped ...

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

  • (News by tags)
    Dollar trading mixed to start holiday shortened week

    • AUD and CAD outperforming as equity investors cheer silver lining in Spanish & Italian coronavirus death statistics. • Oil opens 10% lower after Saudi Arabia/Russia spat pushes today’s OPEC+ meeting to Thursday, but S&P rally helps it recover. • EURUSD...

    ... EURUSD DAILY EURUSD HOURLY JUNE GOLD DAILY GBPUSD Sterling opened lower last night after news broke about UK PM Boris Johnson getting admitted to hospital with worsening coronavirus symptoms.  GBPUSD was already ...

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

  • (News by tags)
    Dollar bid ahead of US Non-Farm Payrolls

    • Traders anxious ahead of US NFP print that won’t fully capture extent of March job losses. • Consensus expecting -100k headline, +3.8% for the unemployment rate, +0.2% MoM wage growth. • Final March Services PMIs out of Europe miss expectations. Austr...

      .cta { background-color: #003767; color: #FFFFFF; font-size:16px; padding: 8px; text-align: justify; } Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-8...

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

  • (News by tags)
    EBC In the News (Reuters) - Euro, yen swap spreads stabilize, show less demand for U.S. dollars

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    Trump expects Russia & Saudi Arabia to cut 10mln bpd in production

    • Trump tweet leads to +35% spike in oil futures, USDCAD back down through pivotal 1.4170-90 region. • Saudi Arabia now wants cooperation from other oil producers, including the US, Canada and Mexico. • Risk-on flows now trying to reverse strong “risk-of...

    ...l be GREAT for the oil & gas industry! @realDonaldTrump .....Could be as high as 15 Million Barrels. Good (GREAT) news for everyone!  @realDonaldTrump SAUDI ARABIA CALLS FOR URGENT OPEC+ MEETING: SPA   If what Presid...

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

  • (News by tags)
    EBC In the News (Financial Post) - U.S. dollar gains as steep global economic slump looms

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    Trump warns of a “very, very painful” two weeks ahead

    • US President gives somber message during latest White House coronavirus update. • US health officials project that virus could ultimately claim up to 240,000 American lives. • Global equity markets in classic “risk-off” mode. Nikkei -4.5%. Europe -4%...

    ...ices below zero and despite reports that Saudi Arabia is indeed now pumping 12.3mln bpd in production…all not surprising news.  What is more, we’ve seen European bond yields react rather calmly to the very poor final March PMIs reads that...

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

  • (News by tags)
    Portfolio managers still apparently short of USD into month/quarter end

    • USD gets bought across the board, despite steady overall risk tone and ample dollar liquidity. • USDCAD breaks above 1.4170-90s. AUDUSD reversing lower with 4th upside buyer failure in 0.6190s. • EURUSD slumps for the second straight day. Sterling ou...

      .cta { background-color: #003767; color: #FFFFFF; font-size:16px; padding: 8px; text-align: justify; } Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-8...

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

  • (News by tags)
    USD broadly bid as lockdown-driven economic anxiety returns

    ...USDJPY trying to bounce. • Leveraged funds scramble to cover EURUSD and USDCAD shorts during week ending March 24. • Economic news this week kicks off tonight with China’s Manufacturing PMI for March, 45.0 expected.

    ...ing to bounce. Leveraged funds scramble to cover EURUSD and USDCAD shorts during week ending March 24. Economic news this week kicks off tonight with China’s Manufacturing PMI for March, 45.0 expected. ANALYSIS USDCAD ...

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

  • (News by tags)
    Month-end flows in focus. Bank of Canada surprises with rate cut + QE

    • Dealers reporting month end demand for USD and JPY into 10amET London fix. Liquidity is thin. • Over 1.7blnEUR in EURUSD options expiring around 1.1000 strike into 10amET NY options cut as well. • USD rallying broadly into NY trade, but lots of techni...

    ...ading just shy of its next major chart resistance level in the 1.2290s and we’ve seen some selling come in on the back of news that the UK Prime Minister Boris Johnson tested positive for the conoravirus. GBPUSD DAILY GBPUSD HOURLY ...

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

  • (News by tags)
    3.28M Americans file for unemployment claims, but markets continue to shrug off expected bad news.

    • US weekly jobless claims rise 3.28M during week ending March 21, quadrupling 1982 record. • Broad risk sentiment jumps however as markets largely expected this, S&Ps +3.5%. • USD continues overnight sell-off led by narrowing in CCBS pricing and Europea...

      .cta { background-color: #003767; color: #FFFFFF; font-size:16px; padding: 8px; text-align: justify; } Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-8...

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

  • (News by tags)
    US set to pass $2 trillion stimulus package. Markets be like "what else you got"?

    • Senate Democrats and Republicans agree on historic $2 trillion rescue package. • Risk sentiment upticks into European trade but now quickly fizzles out. • GBPUSD and AUDUSD struggling to defend upside breaks. USDCAD finds dip buyers. • EURUSD dealin...

    ... the board.  All this optimism is being dialed back now as another bout of pessimism permeates ahead of the North American news cycle…which seems to be a new trend of late.  We find it notable that May crude oil prices didn’t partici...

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

  • (News by tags)
    Mild coronavirus optimism leads risk sentiment higher overnight

    • Italy’s Milan region saw lowering trend for new cases yesterday. Next update today at 1pmET. • Wuhan to end lockdown on April 8. US stimulus package now rumored to be $2.5 trillion. • Overnight "risk-on" dampens dollar demand. 3-month EURUSD CCBS na...

    ...ces 5% higher.  All of this is reversing now however as traders adopt a more cautious approach ahead of the North American news cycle.  It will be interesting to see if market participants shrug off the US flash PMIs for March as well, to be rele...

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

  • (News by tags)
    Fed effectively goes all-in by signaling unlimited QE

    • Fed to buy treasuries/MBS in “amounts needed to support smooth market functioning”. • Fed to create two new bond/loan facilities for large corporations + main street business lending program. • Risk sentiment pops initially but now beginning to fade on...

    ... USDCAD There was an uneasiness to global markets in the overnight session as traders digested more negative coronavirus news over the weekend, a scheduled vote before the US Senate on the US coronavirus relief package this morning, and possible new...

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

  • (News by tags)
    EBC In the News (Financial Post) - TSX extends weekly decline, loonie rally ebbs as economic outlook dims

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada talks about the current state of the Canadian dollar in response to the coronavirus with Fergal Imbert reported at the Financial Post.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

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    Broad USD rally, funding pressure, eerily takes a breather overnight

    • USD broadly lower in Asia/London as 3-month CCBS narrows to +1bp, going bid again in NY. • Japan closed for holiday, RBA starts QE purchases, Trump may intervene in Saudi/Russia oil spat. • Canadian Retail Sales for January come in mixed, but nobody is...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

  • (News by tags)
    They keep finding more kitchen sinks to throw

    • Kudlow hints at US government buying stocks. ECB increases QE by 750blnEUR through end of 2020. • Reserve Bank of Australia cuts by 25bp, starts QE with 0.25% yield target on 3-year government bond. • US Philly Fed survey for March misses estimates. ...

    ...to over 1.1trillionEUR…the biggest annual amount ever!    While Italian and Greek bonds bounced on the news, the rest of the bond market doesn’t seem to care, nor do EUR traders.  It’s because market participants k...

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

  • (News by tags)
    USD funding pressures ease, but European bond rout raising new fears

    • ECB’s Holzmann admits monetary policy has reached its limits. European bonds plunge. • Bank of Italy intervenes in BTP market to curb panic selling, but broader risk sentiment now hit. • Cash S&Ps set to trigger trading curbs once again. April cru...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

  • (News by tags)
    USD surging as dollar funding stress continues

    Benchmark 3-month EURUSD cross currency basis swap blows out to -124bp. Shows yesterday’s global central bank coordination on USD swap lines not working. USD now surging across the board as broader risk sentiment remains steady. US Treasury Secretary Mn...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

  • (News by tags)
    None of it is working

    S&P futures locked limit down -5% despite raft on central bank actions. April crude -8%. Fed, BOE, BOJ, ECB, BOC and SNB to lower rate on existing USD swap lines by 25bp. Global central banks to now offer USD liquidity with 84-day maturity, in addition ...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

  • (News by tags)
    Trump bans all EU flights. Markets in panic mode again. ECB adds to QE.

    US to ban all incoming flights from Europe for 30 days starting this Friday. S&P and oil futures plunge. US 10yr yields retreat back to 0.70%. USDCAD bid. ECB leaves rates on hold, but adds 120blnEUR in QE and new LTRO + lowers bank capital ratios. EU...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

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    EBC In the News (Reuters) - Euro slides after ECB stimulus; dollar gains after NY Fed move

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    Trump no-shows. BOE cuts 50bp. US CPI slightly beats expectations.

    Trump does not attend last night’s coronavirus press conference at the White House. Markets now re-living yesterday’s mid-session fears that the US coronavirus response is not ready yet. Saudi Aramco directed to increase its maximum capacity from 12M to ...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

  • (News by tags)
    Risk sentiment bid ahead of Trump press conference

    Trump to speak at 5:30pmET tonight. “Major” actions to support economy expected. Saudi Arabia to flood oil markets with supply but Russia still seems willing to cooperate on “joint measures”. President Xi appears to celebrate conoravirus victory in Chin...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

  • (News by tags)
    Oil prices plunge 30% last night after Saudis start price war with Russia.

    Saudi Arabia slashes official April selling prices by $6-$8/barrel, to increase April oil production over 10M bpd. Decision in response to Russia disagreeing to OPEC+ production cut proposal, Saudis now looking to re-take market share + pressure Russia. ...

    ...s.   ANALYSIS USDCAD Global markets are a sea of red this morning following the shocking weekend news that Saudi Arabia effectively started a price war with Russia in response to OPEC+ talks breaking down last week.  The...

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

  • (News by tags)
    Markets panicking. Traders expecting Fed to cut at least another 75bp on March 18.

    Implied Fed funds trading at 0.48%. US 10s below 0.70%. S&Ps -3%. EUR and JPY surging. U.S. FEB PAYROLLS +273,000 (CONSENSUS +175,000). CANADA FEB EMPLOYMENT +30.3K (+10K exp) Russia does not agree to OPEC’s proposed 1.5M bpd production cut. Crude o...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

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    Coronavirus angst returns. OPEC recommends 1.5M bpd cut. Poloz to speak this afternoon.

    California declares state of emergency as number of total US cases reaches 159. Australia beefs up inbound travel restrictions. Confirmed coronavirus cases outside China now 15,865. South Korea with 5766, Iran with 3513, Italy with 3089. Global markets...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

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    Fed fails. Biden succeeds. Bank of Canada cuts rates by 50bp to 1.25%

    • Bank of Canada cuts rates by 50bp with dovish press release. USDCAD spikes above 1.3400. • Bond markets shrug off emergency 50bp Fed rate cut. US 10yr yield plunged below 1% yesterday. • Fed funds futures still pricing in at least another 25bp in cut...

    p{ text-align: justify; font-size:14px; } h2 { font-size:16px; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35...

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

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    Fed Surprises Markets With 50BP Rate Cut

    • FED SAYS FUNDAMENTALS REMAIN STRONG BUT CORONAVIRUS POSES EVOLVING RISKS TO ECONOMIC ACTIVITY • G-7 FINANCE MINISTERS, CENTRAL BANKERS 'STAND READY TO COOPERATE FURTHER' TO ADDRESS CORONAVIRUS • G7 press release from 7amET conference call does not reve...

    ...we talked about yesterday.  We still believe there’s a chance of this happening though as traders further digest this morning’s news.  We may not get coordinated global rates all at the same time (like we saw in December 2007, October 2008 and November 201...

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

  • (News by tags)
    Markets want rate cuts now

    • Money markets pricing in 75bp of Fed easing by March 18th FOMC meeting. • Both Reserve Bank of Australia and Bank of Canada now expected to cut 25bp this week. • Risk sentiment bouncing mildly on prospect of coordinated global rate cuts. • USDCAD wa...

    ...night at 10:30pmET, with traders expecting a 100% chance of a 25bp reduction in the cash rate to 0.50%.  This should be bearish news for the Aussie, but because we’re seeing rate cut expectations explode even more for the Fed today, we think this the reaso...

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

  • (News by tags)
    Plunge in US yields leads to rampant Fed rate cut speculation

    Fed funds futures curve now expecting first 25bp rate cut in April, 75bp by years end. President Trump downplays coronavirus impact but markets don’t react too kindly. Number of cases increases in Italy, South Korea and Iran. Big questions now being ask...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

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    Global markets trying to shrug off virus fears again

    • S&P futures and US yields bounce, despite more coronavirus cases in South Korea and Italy. • China reports just 5 new cases outside Hubei province. USDCNH traders sidelined. • USDCAD continues to struggle with 1.3300 resistance level. AUDUSD extends ...

    ...n the equity and oil markets.  This had us pondering increasing downside vulnerability for USDCAD, especially if the virus news flow were to turn more positive.  This hasn’t really happened in overnight trade today as the coronavirus case c...

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

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    Risk sentiment up mildly after yesterday's pandemic fear driven moves

    Traders also talking about April gold’s negative reversal lower late yesterday. EURUSD recedes off 1.0860s resistance with gold decline, now likely to deal with option expiries. Pause in risk-off sentiment helps oil market bounce, stalls USDCAD attempt a...

    ...but the pace of the increase feels a tad slower when compared to developments over the weekend.  We also got more positive news out of China -- just 9 new cases outside Hubei province for February 24 and a whole bunch of new economic stimulus measures...

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

  • (News by tags)
    Italy, South Korea and Iran in panic mode as number of coronavirus infections explode higher.

    Case count surges to 223 in Italy, 833 in South Korea, and 47 in Iran. Italian markets plunge. FTSE MIB -6%. BTP yields surge 10bp at European open. S&P futures -100. April crude oil -5%. US 10s -10bp. April gold +2%. Chinese yuan believing just 11...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%...

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

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    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 cha...

    ...r at @EBCTradeDesk or sign up here.   SUMMARY 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/Eurozon...

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

  • (News by tags)
    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...

    ...staying bid above the 7.0000 level for the betterment of two weeks while China threw the kitchen sink at creating positive news flow, the yuan has now collapsed lower.  The influential off-shore USDCNH rate has broken higher out of its downt...

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

  • (News by tags)
    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...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    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.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-top...

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

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    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 coronaviru...

    ...s own merits again this morning, with today’s bounce coming from a better than expected UK December employment report and news that the government’s budget will be released on March 11 as scheduled.  The UK reported +180k new jobs created ...

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

  • (News by tags)
    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.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    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 Industr...

    ...e numbers announced by China’s Hubei province but, like the yuan and the Canadian dollar, it is also shrugging off the negative news.  It’s almost as if global markets are believing the spin the Chinese officials attached to last night’s news – namely that...

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

  • (News by tags)
    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...

    ...ers announced by China’s Hubei province but, like the yuan and the Canadian dollar, it is also shrugging off the negative news.  It’s almost as if global markets are believing the spin the Chinese officials attached to last night’s n...

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

  • (News by tags)
    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 t...

    ... given how the definition of what constitutes a “confirmed case” conveniently changed just a few days ago, but this news put a bid under the Chinese yuan nonetheless and helped risk sentiment further in Asia.   European traders jum...

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

  • (News by tags)
    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 Po...

    ... that China’s National Health Commission changed their definition of what constitutes a “confirmed case”, the news is even less surprising.  More here from Taiwan News.  China’s foremost medical advisor, Zhong Nanshan, was...

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

  • (News by tags)
    China slowly returning back to work, but markets yet not convinced worst of virus is behind us

    Chinese government eases some travel and work restrictions, urges millions to gradual return to work. PBOC announces 300bln special lending facility for banks with orders to “issue loans quickly”. WHO’s Tedros finally admits “we may only be seeing the ti...

    ...ce.  This is difficult to verify however but it appears this is all traders have to go by this morning as UK economic news flow is non-existent.  This all changes tomorrow however when the UK reports its December figures for GDP, Industrial ...

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

  • (News by tags)
    Coronavirus fears escalate again overnight. US & Canadian job reports up next.

    New international cases aboard quarantined Diamond Princess cruise liner jumps to 61. Singapore has raised its Disease Outbreak Response System condition to orange from yellow. USDCNH move above 7.0000 leads risk-off move, which in turn hurt commodity cu...

    ...last month. ANALYSIS USDCAD Global markets are displaying broad risk-off tones this morning as the coronavirus news flow gets increasingly more negative.  There are now 61 confirmed “international” cases aboard the quarant...

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

  • (News by tags)
    China to lower tariffs on $75 billion of US goods starting next week

    Another positive Chinese soundbite drives risk-on sentiment in late Asia, but skepticism follows. Global Times says China considering invoking “disaster” clause in phase one trade deal. Over 28k people now infected in China. 562 dead. Tiajin beginning ...

    ...o;s northern city of Tianjin, home to 11.5 million people, is beginning lock down procedures.  If we combine all this with news that Honda has announced that it will keep its Wuhan plants closed until February 13th, there are many out there speculatin...

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

  • (News by tags)
    Research team at Zhejiang University has “found an effective drug” for coronavirus

    Chinese state TV releases headline during 3amET hour, leads to another broad “risk-on” move. Sky News reporting UK scientists have made “significant breakthrough” in race to create vaccine. US yields break through 1.61% resistance. USDJPY gallops over 1...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    EBC In the News (Reuters) - Dollar shines on robust U.S. private payrolls, news of virus treatment

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Chinese yuan with Gertrude Chavez-Dreyfuss at Reuters.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,chinese yuan,reuters,news,fx markets

  • (News by tags)
    Markets go risk-on after more Chinese intervention

    China pumps another 400bln yuan into money markets. Urges investors not to panic. Sets USDCNY fix lower. RBA downplays coronavirus for now, saying it will “temporarily weigh” on domestic growth. AUD bounces. UK Construction PMI for January beats expec...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    China intervenes to calm its capital markets

    PBOC injects 1.2 trillion yuan, cuts 7 & 14 day reverse repo rates. Chinese regulators halt night trading in A50 China futures + ban short selling of stocks. Intervention halts further selling after Shanghai Composite gaps down 7%, lifts risk sentiment. ...

    ... the situation on the ground in China still appears grim.   Today’s NY calendar is showcasing some more good news so far in the form of a better than expected US ISM Manufacturing PMI for January (50.9 vs 48.5), and with that USDCAD is o...

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

  • (News by tags)
    Countries taking matters into their own hands after soft WHO emergency declaration

    WHO declares public health emergency of international concern regarding coronavirus. The un-binding decree however stops short of recommending travel restrictions. Italy, Singapore, US and Japan take further steps to curtail travel to and from China. Ov...

    ...D HOURLY MAR CRUDE OIL DAILY     EURUSD There’s been a lot of negative economic news out of Europe today, but EUR traders seem to be once again focusing on rising gold prices instead.  German Retail Sale...

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

  • (News by tags)
    Fed leaves rates unchanged. BOE hurts doves with rate hold. Coronavirus fears mount.

    Fed to keep intervening in overnight/term repo + T-bill markets until “at least April”. Achieving “ample” bank reserves the focus. Bank of England disappoints rate cutting doves. OIS markets reprice for no cut in March and GBP rebounds. Global economic...

    ...day. ANALYSIS USDCAD Dollar/CAD broke out to a new uptrend overnight as this week’s familiar coronavirus news cycle delivered more bad news during the Asian and early European time zone.  We now have 7,711 confirmed cases in Chi...

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

  • (News by tags)
    The virus is spreading and the outbreak situation is still grim, says Chinese Premier Li Keqiang.

    Mild risk-off flows return as traders now eagerly await WHO press conference at 11amET. British Airways suspends all flights to Beijing and Shanghai. Rumors swirl US-based airlines to follow suit. US yields and USDJPY trading back lower after filling Su...

    ...t forcing the Fed’s hand at all. ANALYSIS USDCAD Dollar/CAD is trading bid this morning as the overnight news flow was negative once again surrounding the coronavirus outbreak.  While US Health and Human Services Secretary Alex ...

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

  • (News by tags)
    Coronavirus outbreak may reach its peak in one week or about 10 day

    China’s Xinhua out with the headline, citing respiratory scientist Zhong Nanshan. Broader risk sentiment improves with global equities, yields, yuan all bouncing. OPEC trying to stem oil market decline with talk of extending & deepening production cuts. ...

    ... ANALYSIS USDCAD Dollar/CAD attempted to break higher into a new uptrend this morning following some more discouraging news on the coronavirus front.  The number of cases in China has officially increased to 4,515 and the death toll has risen...

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

  • (News by tags)
    EBC In the News (The Globe and Mail) - Canadian dollar tumbles to seven-week low as virus contagion escalates

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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

  • (News by tags)
    Coronavirus outbreak takes turn for the worse over the weekend

    Almost 3000 now infected in China, 81 dead, but "unofficial" talk on the ground is numbers are way higher. China extends Lunar New Year holiday by one week to help stem spread of the disease. Global markets go into “risk-off” mode to start week, with plu...

    ...o;s North American calendar is devoid of any major economic data releases and so we think traders will focus on the coronavirus news flow and perhaps try to retrace some of these overnight moves by the London close if we don’t get any further negativ...

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

  • (News by tags)
    Ten Chinese cities totaling 30 million people now on lockdown

    More negative coronavirus headlines spurs small “risk-off” USD buying wave in London trade. EURUSD can’t break above 1.1060 following German flash PMI beat. Eurozone flash PMI miss doesn’t help. Bank of England rate cut odds for January 30th barely move...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    Bank of Canada goes dovish again. ECB stands pat. Coronavirus spreads.

    Bank of Canada lowers GDP forecasts, says “door is obviously open to an interest rate cut”. USDCAD spikes. ECB to adhere to current strategy until new strategy has been defined. Expected late 2020. Three Chinese cities now on lock-down as coronavirus s...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    Coronavirus headlines cause Asian session volatility once again. Bank of Canada up next.

    China reports 440 cases last night with 9 dead. Another small “risk-off” wave ensues. Relative calm returns after press conference from Chinese health officials. Sterling shoots higher after surprise surge in UK manufacturing confidence (CBI survey). O...

    ...trade last night.  The market broke above the 1.3070s with “risk-off” flows around the 8pmET hour as the Asian news cycle began with reports of the coronavirus spreading to 440 cases in China with nine deaths.  However, these flows re...

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

  • (News by tags)
    Chinese coronavirus fears spark "risk-off" flows in Asian trade

    ... rallies rescue AUDUSD from foray sub 0.6860s. • Chinese yuan can’t recover from coronavirus-driven losses; overnight US/China news-flow not helping. • Canadian Manufacturing Sales (Nov) miss expectations, -0.6% MoM vs -0.2%. • February crude oil chart ...

    ...DUSD from foray sub 0.6860s. • Chinese yuan can’t recover from coronavirus-driven losses; overnight US/China news-flow not helping. • Canadian Manufacturing Sales (Nov) miss expectations, -0.6% MoM vs -0.2%. • F...

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

  • (News by tags)
    USD trading mildly bid into US Martin Luther King holiday

    • Sterling leading USD strength with negative tones from UK chancellor Sajid Javid. • Bearish “head & shoulders” patterns continue to depress EURUSD and AUDUSD. • Overnight oil volatility following supply disruptions in Libya & Iraq doesn’t shake other m...

    ...creasing the new net long GBPUSD position even further.  We continue to believe that this net positioning statistic is not good news for the funds given the market’s weak technical structure.  This week’s UK calendar features Britain’s employment report to...

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

  • (News by tags)
    Bank of England rate cut odds shoot up to 66% after more weak UK data

    UK Retail Sales fall 0.6% MoM in December versus expectations for a 0.5% gain. OIS market now sees 66% chance of 25bp rate cut from the BOE on Jan 30th. GBPUSD rejects last week’s 1.3080s chart support (turned resistance) with a vengeance. EURUSD weighe...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    US/China "phase one" deal signing passes without much fanfare

    Equity markets rally but the bond traders are not believing it. US yields continued lower in overnight trade, dragging USD broadly lower. Better Retail Sales + stellar Philly Fed numbers out of US now sees yields/USD bounce. Bearish upside breakout fail...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    US/China "phase one" trade deal to be signed at 11:30amET this morning

    US Treasury Secretary Mnuchin touts “very significant”, yet “very complicated” agreement with China. Ceremony to take place at White House at 11:30amET. Details of the deal to be announced beforehand. Global markets displaying some pre-ceremony jitters,...

    ...reasury Secretary Mnuchin promised will be released this morning before the 11:30amET ceremony at the White House. In other news, OPEC released its Monthly Oil Report for January 2020 this morning.  The cartel lowered its 2020 demand forecast for ...

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

  • (News by tags)
    Global markets steady ahead of looming US/China phase one deal signing

    “Risk-on” takes another leg higher in Asia following Chinese $80bln purchase pledge. European time zone dialing back the optimism a bit following SCMP article. USDCNH breaks below 6.8850 support to make new 6-month low, but now reversing higher. “Buy th...

    ...ore in energy supplies, according to Reuters sources.  More here.  This optimistic headline follows yesterday’s news that the US Treasury removed China from its list of currency manipulators.  However, some of this optimism is being di...

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

  • (News by tags)
    EBC In the News (Financial Post) - C$ sticks to tight range ahead of U.S.-China trade deal signing

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Canadian dollar with Fergal Smith at Financial Post.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: in the news,exchange bank of canada,canadian dollars,financial post,news,fx markets

  • (News by tags)
    Bank of England rate cut odds for Jan 30th gallop to 49%

    BOE out with yet more dovish comments over the weekend, this time from member Gertjan Vlieghe. UK GDP for November surprisingly contracts 0.3% MoM vs expectations of no growth. GBPUSD slumps down to 1.2980s. EURGBP rallies above 0.8550. USDJPY at new s...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    Bank of England's Tenreyro going dovish too. US & Canadian employment reports up next.

    BOE’s Tenreyro “edging towards a cut in rates if downside risks emerge”. GBPUSD still below 1.3080s. Traders expecting +164k jobs created in the US in December, +25k for Canada. AUDUSD bounces off better than expected Australian Retail Sales number, but...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0%...

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

  • (News by tags)
    EBC In the News (CNBC) - Dow surges 200 points to a record, led by Apple, as US-Iran tensions decrease

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the U.S.-China trade deal with Fred Imbert at CNBC.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: in the news,exchange bank of canada,us dollars,chinese yuan,us-china trade deal,cnbc,news,fx markets

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    Trump de-escalates. Carney goes dovish. Australia calls for more evacuations.

    Equities and US yields score bullish daily reversals while February gold and oil futures record bearish reversals. Dovish comments from BOE Governor Mark Carney sees GBPUSD lose trend-line support in the 1.3080s. EURUSD still in the pits on broad USD s...

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

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    Iran attacks US airbases in Iraq, but no US casualties reported

    Iran fires missiles at Taji, Erbil and Al Asad airbases in Iraq, in retaliation for killing of Qasem Soleimani. Trump tweets “all is well” after reports of no US casualties. US official said “Iran appeared to be shooting to miss”. Overnight 4% spikes hi...

    ... well.  Australia reported better than expected Building Permit data for the month of November (+11.8% vs +2.0%), but this news seemed to be largely ignored.  One could argue that today’s US-yield driven USD strength is part in parcel to bl...

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

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    Australian dollar plunges as talk of RBA rate cut continues to grow

    Australian December job ads fall 6.7% MoM, stoking fears that wildfires will hurt official employment figures. OIS market pricing in 87% chance RBA cuts rates 25bp on Feb 4th to help economy cope. AUDUSD gives up key 0.6920-40 support level, falls all th...

    ...today that Boris Johnson’s government has stood down emergency preparations for a no-deal Brexit, which is not surprising news in our opinion.  More here.  Similar to EURUSD, we think GBPUSD could recover here if the US Non-Manufacturing IS...

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

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    EBC In the News (CNBC) - Safe-haven currencies retreat as US-Iran fears ease

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the U.S.-Iran tensions and the effect in the currency market with CNBC.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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    US/Iran tensions escalate over the weekend, but markets starting to calm down again

    Iran further threatens retaliation for the killing of Qasem Soleimani, announces it will no longer be bound by 2015 nuclear deal. Iraq votes to begin process of expelling US troops. President Trump threatens both Iran and Iraq in response. Gold surges 2...

    ...boost from its December Services PMI data this morning.  The number came in 50.0, beating expectations of 49.1.  This news, along with EURUSD strength, appears to be catalyst for GBPUSD strength this morning but we’d note the emergence of s...

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

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    US drone strike kills top Iranian military commander

    • Qasem Soleimani, head of Iran’s Quds force, targeted at Bagdad Airport. • President Trump ordered the strike as a defensive action to protect US personnel abroad. • Iran’s President Rouhani vows “harsh retaliation” to “take revenge for this heinous cri...

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    US dollar battered over the holidays

    ...dy demand for bonds/precious metals also noteworthy. • Are traders bracing some dovish Fed development or negative US economic news? • US December ISM report on deck for 10amET tomorrow morning, 49.0 expected. • US 10yr yield now trading back below 1.90...

    ...nd for bonds/precious metals also noteworthy. • Are traders bracing some dovish Fed development or negative US economic news? • US December ISM report on deck for 10amET tomorrow morning, 49.0 expected. • US 10yr yield now trading b...

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

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    FX markets quiet as Christmas holiday approaches

    USD trading mixed. US yields re-challenging 1.95% break-out level. February gold breaks above $1490. CME equity, interest rate and FX futures markets close early at 1:15pmET. Global markets closed for Christmas holiday tomorrow. US markets re-open on ...

    ...   AUDUSD The Aussie continues to struggle against chart resistance in the 0.6920s today as traders are lacking a news catalyst to break the market to new swing highs.  The net short AUD position from the funds at CME, and the fact it ha...

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

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    Sterling extends losses following latest CFTC fund positioning data

    Funds at CME piled into GBPUSD longs just as the market was topping. Brexit Withdrawal Bill passes UK House of Commons by 358-234. EURUSD floundering at 1.1070s trend-line support level. AUDUSD enjoying some relative outperformance after 0.6895 held int...

    ...o/dollar continues to hug trend-line chart support in the 1.1070s this morning as traders enter holiday mode.  The weekend news flow has been light as well, giving market participants little reason to push the market out of its post-UK-election downtr...

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

  • (News by tags)
    Canada reports dismal Retail Sales report for October

    Headline reported -1.2% vs +0.5% expected. Ex-autos comes in -0.5% vs +0.3% expected. USDCAD rallies 50pts. NY close above 1.3150-60s would ruin momentum for new downward trend. Euro continues lower, weighted by firm US yields. Quad witching + pre-hol...

    ...s by 0.8% (-0.5% vs +0.3%), making October the worst month for Retail Sales since November of last year.  Ouch!  This news has naturally led to a sharp move higher in USDCAD, but it could also now destroy the market’s ability to form a new ...

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

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    Bank of England keeps rates on hold with 7-2 vote

    GBPUSD gyrates up and down with wishy-washy BOE outlook, but trend still down. AUDUSD bounces on better than expected Australian employment report for November. German and US 10yr bond yields on the cusp of major upside breakout, but Philly Fed miss coul...

    ...aders have now stalled the market at this level, and it’s been this way since the NY close yesterday.  The overnight news flow has been dominated by Trump impeachment headlines and while we’d argue markets don’t care one bit about th...

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

  • (News by tags)
    USD trading mixed into NY trade

    USDCAD range-bound in overnight trade, but leans lower now following beat on Core Median November CPI for Canada. AUDUSD holding top end of 0.6810-30 support zone. Australian employment report out at 7:30pmET tonight. Euro slumps on weight of negative N...

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

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    Johnson vows to outlaw Brexit 2020 transition period extension in new Withdrawal Agreement Bill

    No-deal Brexit anxiety returns. GBPUSD completely fills Thursday’s 5pmET upside chart gap. UK reports mixed November employment report. Deutsche Bank calling for BOE rate cut in January. EURUSD rallies a bit in Europe, but then fades into NY trade afte...

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

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    EBC In the News (Reuters) - Canada FX Debt-C$ pares gains after posting 7-week high on U.S.-China trade deal

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,canadian dollars,reuters,news,fx markets

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    EBC In the News (Payments Business) - The Future of Cross Border Regulations

    We’re pleased to announce Jay Fischbach, our Chief Operating Officer is featured in Payments Business Canada. He shares his thought leadership and insights about the future of cross border regulations and the innovation of foreign exchange in the payments ...

      Payments Business December 13, 2019 We’re pleased to announce our Chief Operating Officer, Jay Fischbach was featured in Payments Business. He shares his thought leadership and insights about the future of cross border regulations and t...

    Tags: payments business canada,cross border regulations,innovation,technology,foreign exchange,payments,in the news

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    USTR Lighthizer says US/China phase one deal is "totally done"

    China reports better than expected Industrial Production & Retail Sales for November. Markets go “risk-on” to start week. S&P futures trade to new record highs. Bond, commodity, FX markets more skeptical as deal lack details, not written down, still nee...

    ...int this week.  This means GBPUSD could easily trade back down to the 1.3200 mark in our opinion, and we have plenty of UK news catalysts on the docket this week to potentially help with that.  The UK reports its November employment report tomorr...

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

  • (News by tags)
    Boris Johnson's Tories achieve landslide UK election victory

    GBPUSD surges 350pts in early Asia to hit 1.35 handle. Broad USD sales ensue. Risk-on wave in Asia follows very positive US/China trade deal sentiment from NY session yesterday. President Trump reportedly signs off on deal to reduce existing China tarif...

    ...er and the numbers missed expectations (+0.2% MoM vs +0.5% on the headline, and +0.1% vs +0.4% ex Autos), which is more bearish news for USDCAD, yet it can’t sell off.  FX dealer defense of over 1blnUSD in options expires between the 1.3140 and 1.3155 stri...

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

  • (News by tags)
    Fed leans dovish. ECB stands pat. UK election result looms.

    Dovish Powell sends US yields and USD lower yesterday. EURUSD achieves technical upside breakout. AUDUSD extends its rally post-Fed, following early session break back above 0.6840. USDCAD collapses below 1.3180s, now a pivotal level ahead of Poloz spee...

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

  • (News by tags)
    FX markets quiet ahead of Fed rate decision

    • Markets expecting no change to interest rates and forward guidance. • US CPI (Nov) comes in slightly higher than expected on headline, but in-line on the core measure. • GBPUSD moved swiftly lower in Asia after final YouGov MPR poll predicts Tory major...

    ...   AUDUSD There’s an odd, buoyant, tone to the Australian dollar this morning.  The overnight US/China news flow has not offered up any “positives” in our opinion; uncertainty about the Dec 15th tariff deadline still re...

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

  • (News by tags)
    US/China negotiators “laying the groundwork” for delay of Dec 15th tariffs (WSJ).

    • Risk sentiment getting slight boost into NY trade. S&Ps, yields, Chinese yuan, USDJPY higher. • AUDUSD still marred by Friday’s negative post NFP reversal back below the 0.6840s. • USDCAD traders digesting conflicting USMCA headlines amid new 1.3160-1...

    ...ariffs if the Phase 1 trade deal is not agreed upon by the December 15th deal deadline.  The WSJ is out with some breaking news just now however, saying… “U.S. and Chinese trade negotiators are laying the groundwork for a delay of a f...

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

  • (News by tags)
    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 docume...

    p{ text-align: justify; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} ...

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

  • (News by tags)
    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 o...

    ....  The options market, on the other hand, continues to show traders hedging their bets…perhaps because so much good news is already priced into the GBPUSD market and perhaps because it’s so cheap to do so.  The widely followed 2-week...

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

  • (News by tags)
    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 b...

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

  • (News by tags)
    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. • USDC...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

  • (News by tags)
    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...

    ...dslide, 68 seat majority, Tory election victory predicted by Wednesday night’s YouGov MPR poll was supposed to be bullish news for the market, and while it was for a brief while, GBPUSD fell back below its 1.2910s upside break-out level by the close ...

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

  • (News by tags)
    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 ...

    ... overnight about the US/China trade deal being in its “final throes”, according to President Trump, but this is old news we feel.  More than likely what we’re seeing here is some position adjustment ahead of some large G7 option expi...

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

  • (News by tags)
    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...

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

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    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 ...

    ...h as ECB President turned out to be a dud.  She called on EU governments to boost spending, which is not “new” news for traders, who heard this first from Mario Draghi back in September.  More here from the Financial Times.  We t...

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

  • (News by tags)
    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 Mo...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

  • (News by tags)
    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 mar...

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

  • (News by tags)
    Trump/Powell meeting brought out some dovish rumors yesterday

    • Trump discussed negative rates, easing, too strong USD. Says US rates should be lower. • US 10yr yield dropped further to 1.80%, dragged broader USD lower with it. • AUDUSD lower post RBA Minutes, but McCrann article helps market recover. • US Housin...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

  • (News by tags)
    Big Tory lead over Labour helps risk early on, but negative CNBC trade tweet sours mood.

    • Tories now lead Labour by at least 14pts in UK election polls. GBP rally initially leads risk higher. • Negative US/China trade tweet sours mood, leads to “risk-off” into NY trade. • US stocks, yields, USDJPY and Chinese yuan reverse lower. Gold spik...

    ...Y     USDJPY Dollar/yen and US yields benefited earlier this morning from the positive polling news for the Tories in the UK, but both markets are giving back all these gains and then some after the negative CNBC US/China t...

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

  • (News by tags)
    Kudlow's comments rescue risk into overnight session.

    NEC Director says deal with China is “close” and that “we are coming down to the short strokes.” US yields and USDJPY bounce. Broad USD selling continued in Asia, dialed down in Europe, now back again. EURJPY buying helps EURUSD break above 1.1020s, ext...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

  • (News by tags)
    Markets in risk-off mode again after weak overnight data.

    • WSJ article says: “US-China Trade Talks Hit Snag Over Farm Purchases”. • Japan Q3 GDP disappoints. Australia shocks market with -19k job loss for October. • Chinese Industrial Output and Retail Sales data for October misses expectations. • Germany n...

    ...afternoon titled “US-China Trade Talks Hit Snag Over Farm Purchases”.  More here.  There is no new “news” here again in our opinion (as seems to be the case with much of the US/China trade headlines lately), but you can&rs...

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

  • (News by tags)
    Broad "risk-off" flows kick in after Trump's speech.

    Trump doesn’t deliver the “constructive statement on China” that traders were expecting. USD broadly higher with “risk-off” flows, ignoring US yield slump. USDCAD breaks above 1.3250. US reports mixed CPI number for October. Headline measure beats but...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

  • (News by tags)
    Markets optimistic ahead of Trump speech.

    • US 10s teased break above 1.95%, but backing up a bit now. President Trump to speak at 12pmET. • Sources familiar with Trump’s remarks say there will be a “constructive statement on China”. • USDCAD on the verge of positive trend change, but close abo...

    ...ve statement on China” when the President speaks at 12pmET, and so we think market participants are bracing for more good news that could hurt the “Fed rate cut trade” even further (USD positive).  The funds, who extended their net s...

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

  • (News by tags)
    EBC In the News (The Canadian Press) - Canada’s main stock index up moderately, loonie slips against U.S. dollar

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Canadian dollar in the market with The Canadian Press.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,canadian dollars,the canadian press,news,fx markets

  • (News by tags)
    US yield rally continues. Canadian employment report out next.

    • US yields re-attacking the 1.95% level as White House “very, very optimistic” about US/China trade deal. • Traders expecting +15.9k new jobs created in Canada in October. • EURUSD and gold prices succumbing to further pressure from global bond rout. •...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

  • (News by tags)
    Bank of England holds rates unchanged, but two dissenters wanted cuts now.

    • BOE members Saunders and Haskel vote to cut 25bp now. GBPUSD falls. Carney tilts dovishly. • IF DOWNSIDE RISKS EMERGE TO UK ECONOMY, THERE MAY BE A NEED TO PROVIDE REINFORCEMENT. • China and US have agreed to cancel existing tariffs in different phas...

    ...as been a natural beneficiary to this morning’s comments out of China but, as we alluded to above, there is no new “news” here in our opinion.  The market is now trading back above the pivotal 0.6895 level, which it lost in NY trade ...

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

  • (News by tags)
    Broader risk appetite recedes a bit as US yields back up 4bp.

    Traders awaiting the next US/China headline amid quiet economic calendar. US yet to confirm willingness to drop some tariffs against China. Fed’s Evans says monetary policy is “not that far off the neutral rate”. Fed’s Williams to speak at 9:30amET. Fe...

    ...lliams (9:30amET) and Harker (3:15pmET).  The Fed’s Evans spoke over the 8am hour but touted the FOMC party line (no news here in our opinion).  The EIA will also release its weekly oil inventory report at 10:30amET, with traders expecting ...

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

  • (News by tags)
    It's "risk-on" again for global markets, with US 10yr yields now cracking above 1.83%.

    • Growing trade deal optimism continues to propel stocks, yields and USDJPY higher. • Negative tweet from Chinese Global Times editor Hu Xijin adds a wrinkle. Subsequently deleted. • PBOC cuts MLF rate by 5bp to 3.25%. RBA focuses on domestic positives...

    ...ate cut on Dec 11th versus 27% post Fed, and we think we have EURUSD longs that are frustrated with not seeing more negative US news.  Chart support at the 1.1110s has since given way this morning, and we think this exposes the market to further losse...

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

  • (News by tags)
    EBC In the News (Reuters) - Safe-haven yen, Swiss franc slide as U.S.-China nears trade deal

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Japanese yen in the market with Gertrude Chavez-Dreyfuss at Reuters.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,japanese yen,reuters,news,fx markets

  • (News by tags)
    EBC In the News (Reuters) - CANADA FX DEBT-C$ steadies ahead of domestic trade and jobs data this week

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

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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    Positive trade headlines boost risk sentiment, but broader USD tone more guarded

    • Wilber Ross optimistic on China deal; US may not need to put tariffs on EU cars. • White House official tells Politico a deal with China is almost there. • S&P +0.6%, Crude oil +1.6%. Copper +0.6%. US yields bumping up against 1.77%. • Broader USD sh...

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

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    Caixan Manufacturing PMI lifts sentiment overnight, but markets now bracing for potentially negative US NFP

    Chinese Caixan Manufacturing PMI (private sector SME) for October 51.7 vs 51.0, highest since Feb 2017. US Non-Farm Payrolls (Oct) up next at 8:30amET. How bad will the negative effect be from the GM strike? US ISM Manufacturing PMI (Oct) at 10amET, wit...

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    Poloz turns cautious. Powell maintains stubborn optimism, but bond market not falling for it.

    • CAD collapses as Bank of Canada focuses on “worsening global situation”. OIS now pricing in 30% chance of Dec 4th rate cut. • Powell delivers hawkish rate cut, but bond markets don’t believe Fed easing cycle is over. • Negative US/China headlines from...

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    US Q3 Advance GDP beats expectations. BOC, FED and BOJ meetings loom.

    US Q3 Advance GDP +1.9% vs +1.6% expected. USD bid broadly into NY open. Bank of Canada interest rate decision at 10amET. Press conference at 11:15amET. Fed interest rate decision at 2pmET. Press conference at 2:30pmET. Traders expect no change from ...

    ...voting age and EU “settled status” citizens to vote were voted down.  Sterling traders appear to be liking the news for now because Johnson’s Tory party is leading in the polls and should they win more seats on Dec 12th, it will be e...

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    EU agrees to Brexit extension to January 31, 2020

    • EU grants UK request for Article 50 extension. Sterling unphased as this was expected. • S&P 500 trades to new all time high, propelled by US/China Phase 1 deal optimism. • US 10yr yields continue rally after Friday break above 1.77%. USDJPY eyeing bre...

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    Broader USD bid ahead of US/China talks and Brexit extension decision from the EU.

    German IFO Expectations sub-index beats for October, but EURUSD bounce fizzles. EURUSD sellers pouncing on yesterday’s bearish outside day pattern + large 1.1100 option expiry. Boris Johnson’s call for Dec 12 elections sees GBPUSD volatility, but Labour ...

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    ECB keeps monetary policy unchanged. Draghi says his legacy is "never give up".

    • All ECB measures from September kept in place. Mario Draghi attempts to clarify. • Germany’s flash PMI for October misses expectations. Services PMI 51.2 vs 52.0, now at 6-year low. • EU expected to confirm UK’s request for Brexit extension by end of...

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    UK lawmakers pass Withdrawal Agreement Bill, but shoot down government's rushed Brexit time-table

    • Reject of time-table (program motion) allows for amendments to bill that could risk government pulling it all together. • The ability for the UK to leave Europe on Oct 31 with a deal now highly unlikely. EU’s Tusk recommends Brexit extension to the EU2...

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    Trudeau holds on for 2nd term. Canadian Retail Sales disappoint. BOS up next.

    • Liberals win minority government, as expected. LIB 157, CON 121, BQ 32, NDP 34, GRN 3. • Canadian Retail Sales (Aug) miss expectations: -0.1% MoM vs +0.4% and -0.2% MoM vs +0.1% ex Autos. • Bank of Canada’s widely followed Q3 Business Outlook Survey o...

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    Brexit vote delayed, Boris Johnson forced to ask EU for Article 50 extension

    • UK Parliament instead passes Letwin amendment, which forces new detailed Brexit withdrawal legislation to be tabled first. • Boris Johnson sends letter to EU asking for Brexit extension. EU sources reportedly likely to grant. • GBP bid on “no-deal” Br...

    ...bullish technical breakout, lingering thoughts of the hawkish comments from the RBA’s Lowe and some cautiously optimistic news on the Brexit and US/China trade front over the weekend all combine to frustrate the fund net-short AUD position.  Bei...

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    Markets await historic Brexit "Super Saturday"

    UK House of Commons votes on Boris Johnson’s new, EU-approved, Brexit deal tomorrow. Markets settle into nervous lull. GBPUSD overnight options straddle trading over 200 pts. EURUSD and AUDUSD pressing fund short positions. Hawkish comments from the RB...

    ...a move?  Continued divergence in US vs Canada monetary policy.  Passage of the USMCA through Congress.  Positive news on the US/China trade front.  A resolution of the Brexit nightmare. USDCAD DAILY USDCAD HOURLY ...

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

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    UK/EU reach new Brexit deal but UK opposition parities not on-board

    • GBP surges but then reverses lower. 1-week option vols explode higher. 1-month risk reversals plummet. • Risk now rising that Saturday’s UK Brexit vote in the House of Commons will fail. • EURUSD continues yesterday’s rally off Fed Evans. EURGBP buyin...

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

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    EBC's Erik Bregar Offers 2 Free Weeks of Customized Market Coverage

    Limited time offer: Try out EBC’s customized market coverage free for 2 weeks!

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

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    Main stumbling block to a Brexit deal has been removed, according to RTE.

    RTE News quoting two EU sources, claiming DUP acceptance of latest proposal. GBP pops. US reports weaker than expected Retail Sales for September. Some EUR and AUD buyers return. Canada reports weaker than expected CPI data for September. USDCAD inche...

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    US/China "Phase 1" deal optimism fizzles a bit

    • US to drop this week’s planned tariffs in exchange for China committing to 50bln/annum in ag purchases. • Nothing written down though. China now wants more talks before signing + removal of all tariffs to date. • S&P futures, US yields, crude oil off ...

    ...ectations for both headline job creation (-56k vs +23k) and wage growth (+3.8% 3M/Yr vs +4.0%), but as usual with most economic news out the UK these days, it got lost in the weeds of Brexit headlines.  The UK reports its September CPI data tomorrow a...

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

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    EBC In the News (Reuters) - FOREX Dollar falls to 3-month low on hopes of Brexit, U.S.-China trade deals

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current trend of the US dollar against the British pound due to Brexit and the US- China trade deals with Gertrude Chavez-Dreyfuss at Reuters.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,us dollars,british pounds,brexit,reuters,news,fx markets

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    Surge in Brexit & China deal optimism leads to broad "risk-on" flows. Canada reports blowout jobs number.

    • GBP continues its “pathway to a possible deal” surge following “constructive” Barnier/Barclay meeting today. • Expectations high for some sort of mini deal or truce on the US/China trade front. Trump/Lui He meeting at 2:45pmET. • Canada reports +53.7k...

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    Whose head is spinning?

    • Conflicting US/China trade headlines make overnight trading chaotic. Risk-on now in full effect though after NY open. • US 10s back above 1.60%. German bunds back above -0.50%. Positive US/China trade headline on the way? • USDJPY surging back above...

    ...t is trading lower here simply because the last headline sounds slightly less negative in our opinion and we still have a whole news cycle ahead of us for the NY session where “something positive” could happen on the US/China trade front. ...

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

  • (News by tags)
    EBC In the News (CNBC) - 10-year yield holds higher after Fed minutes are released

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the reaction from the markets after the Fed minutes were released with Fred Imbert at CNBC.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,us dollars,cnbc,news,fx markets

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    Powell announces the need to add more bank reserves, but it won't be QE.

    • Powell: “Time is now upon us” for Fed to expand balance sheet. • Powell: “Growth of balance sheet for reserve purposes should not be confused with QE”. • Global markets in better mood following some positive US/China trade headlines. • USDJPY and CNH ...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

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    Negative Brexit & US/China trade headlines hit risk appetite

    • US blacklists 28 Chinese tech companies. China says “stay tuned” for retaliation strikes. • Chinese delegation might cut Washington trip short this week. Vice Premier not “special envoy” (SCMP). • GBP tanks after Boris Johnson tells Angela Merkel Bre...

    ... "where are you going?" (CBC).  GBPUSD moved swiftly below yesterday’s chart support in the 1.2290s on the news earlier and it has now also broken below its next chart support level at the 1.2230s as NY trade gets underway.  We th...

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

  • (News by tags)
    EBC In the News (Reuters) - Canadian dollar keeps to narrow range as oil rally fades

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Canadian dollar against the US dollar and upcoming trade negotiations with Fergal Smith at Reuters.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,us dollars,reuters,news,fx markets

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    China increasingly reluctant to agree to a broad trade deal with the US

    • Markets go mildly “risk-off” at the Sunday open, but recover. US/China talks to resume on Thursday. • November crude oil rallies 1% back above $53, pressures USDCAD into NY open. • EURUSD shakes off weak German Industrial Orders data, trade back above...

    ...SDCAD DAILY USDCAD HOURLY NOV CRUDE OIL DAILY EURUSD Euro/dollar continues to shake off negative news as we start a new week of trade.  The market was able to hold chart support in the 1.0950s on Friday after the “Fed rate cu...

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

  • (News by tags)
    Traders bracing for weak US September NFP numbers

    • Market expecting +145k jobs created, but chatter suggests it could be even less. • “Fed rate cut trade” poised to end the week on a high note after weak US data. • EURUSD and AUDUSD knocking at chart resistance, while USDJPY searching for support. • U...

        Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or&nb...

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    EBC In the News (Reuters) - Dollar falls vs yen, euro, tracking U.S. stocks, yields

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the US dollar and data from ADP the U.S. payrolls processor with Gertrude Chavez-Dreyfuss at Reuters.

    Source: EBC Trading Desk .services_container {display:block; width:95%; margin: 0 auto; padding:10px 0px;} .services_container h2{ background-color:#286aa0; color:#FFF; line-height: 40px; padding-left:5px; } .services_info { margin-...

    Tags: featured in the news,exchange bank of canada,us dollars,reuters,news,fx markets

  • (News by tags)
    Dismal US ISM report invigorates Fed rate cut trade

    Bonds, Dec Eurodollars futures, gold and JPY all continue to trade higher. US ADP Employment Report for Sep misses expectations: +135k vs +140k. August ADP job gains revised lower by 38k. EURUSD resumes higher after blip lower from IFO’s German GDP down...

        Interested in creating a custom foreign exchange trading plan? Contact us or call EBC's trading desk directly at 1-888-729-9716. Get real-time market coverage on twitter at @EBCTradeDesk or&nb...

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

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    Reserve Bank of Australia cuts interest rates for the third time this year

    • RBA cuts rates by 25bp to 0.75%, leaves door open for more cuts. AUDUSD falling hard. • USDCAD benefits from AUD sales. Weak Canadian GDP growth for July helping. • EURUSD trying to bounce after slightly better than expected final Manufacturing PMI o...

    ... and help arrest the decline in growth, not central banks.    The Australian dollar is not taking well to the news and has collapsed through two chart support levels in overnight trade.  AUDUSD has now also just broken chart support ...

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

  • (News by tags)
    EURUSD trades to new 2 year low

    • Weak technicals, mediocre German data, option expiries weighing on EUR. • Sterling holds 1.2290s support after mild beat on Q2 annualized GDP. • AUDUSD very quiet ahead of RBA interest rate decision tonight at 12:30amET. • USDCAD buyers return after o...

    ... to ask the EU for an extension after Oct 19.  Markets don’t seem all too concerned about the weekend’s Brexit news, and so we think GBPUSD could try to stage another bounce attempt.   GBPUSD DAILY GBPUSD HOURLY ...

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

  • (News by tags)
    Nancy Pelosi announces impeachment "inquiry" against Trump

    • Trump calls Democrat’s bluff. Will release telephone transcript later today. • Markets not falling for Pelosi’s PR stunt. USD now higher after initially trading lower. S&Ps flat. • Pound craters as nobody proposes clear path forward on Brexit post...

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    UK Supreme Court rules suspension of UK parliament was unlawful

    • Boris Johnson suffers another defeat, but the market likes it. GBPUSD rallies 50pts. • Sterling rally and topside option expiries help EURUSD shake off mixed German IFO report. • RBA’s Low says the Australian economy had reached a “gentle turning poin...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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    Germany's manufacturing PMI prints a new 10yr low this morning

    • EURUSD falls 50pts. Bund yield drop 6bp. German recession fears get dialed up a notch. • Risk-off flows knock S&Ps, USDJPY and oil prices lower. • USDCAD still struggling at 1.3300 chart resistance level. AUDUSD holding Friday’s lows. • GBPUSD drag...

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    Canadian Retail Sales on deck

    • Market consensus is +0.6% MoM, +0.3% ex. Autos. • Traders also watching results of NY Fed’s latest repo operation. $75blnUSD to be offered overnight again today. • Sterling reversing yesterday’s upside breakout as traders await Juncker’s full intervie...

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  • (News by tags)
    Powell disappoints markets again by brushing off repo mess

    • Fed rate cut recovers though after initially taking a hit. Bond yields and USD lower, gold higher. • NY Fed completes another 75blnUSD injection of liquidity into repo markets. Now 203bln in 3 days! • USDCAD backs off 1.3300 level, with Pompeo saber ...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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    EBC In the News (Reuters) - Canada FX Debt-Loonie hits 2-week low as Fed muddies outlook for rates

    Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Canadian dollar, the U.S. Federal Reserve interest rate cuts announcement and the results from U.S. data points with Reuter’s Fergal Smith.

    Reuters September 18, 2019 Erik Bregar, Director and Head of FX Strategy at Exchange Bank of Canada speaks about the current state of the Canadian dollar, the U.S. Federal Reserve interest rate cuts announcement and the results from U.S. data...

    Tags: featured in the news,exchange bank of canada,canadian dollars,us dollars,reuters,news,fx markets

  • (News by tags)
    Repo goes berserko

    • US overnight treasury repo rates skyrocket to 7-10%, sparking bank liquidity fears. • No spillover effect into bond markets so far with US treasury and bund yields steady. • AUDUSD falls below 0.6855 channel support after dovish sounding RBA Minutes. ...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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

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    Oil markets spike 15-20% higher after weekend attack on Saudi Arabia shuts down 50% of production

    • US Secretary of State Pompeo quick to blame Iran. China and Russia urging restraint. Iran slams accusations. • Saudi Arabia still exporting crude from stockpiles, but admits return to normal “may take months” (Reuters). • USDCAD, USDJPY and S&P futur...

    ...exit deal optimism, and the market appears to be taking its cue this morning from weakness in the EURUSD and some disappointing news on the Brexit front.  UK Prime Minister Boris Johnson met with the EU’s Jean Claude Juncker in Luxembourg today,...

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

  • (News by tags)
    EUR violently reverses higher post ECB press conference.

    • Bullish outside day forms on the EURUSD daily chart. German bund yield spikes higher. • Markets not so confident in ECB’s ability to fix what’s wrong with Europe. • GBPUSD breaks out to the upside following concessions from the UK DUP party on the Iri...

    ... also said it would drop its objection to regulatory checks in the Irish Sea, and when we combine this positive sounding Brexit news with a technical break for GBPUSD above chart resistance in the 1.3250s, there’s your reason to rally.   GB...

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

  • (News by tags)
    Mario Draghi caves

    • ECB cuts deposit rate by 10bp. Resumes asset purchases of 20blnEUR/month, starting Nov 1st. • Calendar based forward guidance replaced with 2% inflation target. • EURUSD plunging and German bund yields falling, causing broad USD buying elsewhere. • M...

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    Trump says Fed "boneheads" should cut interest rates to zero "or less".

    • Jitters mount in the EURUSD options market ahead of big ECB meeting tomorrow. EUR retreats. • Boris Johnson’s proroguing of parliament ruled unlawful by Scottish court. GBP largely unphased. • AUDUSD pokes higher on Hu Xijin headline, but now reversi...

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    FX markets quiet. UK parliament now prorogued until October 14.

    • UK July employment report shows better than expected wage growth. GBP traders buy the dip. • Global bond yields tick up again in Europe but struggling into NY trade. USDJPY off highs. • Canadian Housing Start and Building Permit data beat market expe...

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    UK July GDP surprises to the upside.

    • UK recession fears recede. Recent GBPUSD uptrend resumes. • Fed’s Powell from Zurich on Friday: NOT FORECASTING OR EXPECTING A U.S. RECESSION. • Fed rate-cut trade on the defensive to start Fed blackout period ahead of Sep 18. • Global yields and equ...

    p{ text-align: justify; font-size: 16px; font-family: roboto condensed,helvetica neue,helvetica,arial,sans-serif; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%;...

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  • (News by tags)
    Schembri reiterates BOC's less dovish tone. China stimulates again. US & Canadian job reports on deck.

    • Canadian OIS market now pricing in just a 32% chance of a 25bp Bank of Canada rate cut in October. • USD rallies broadly after the better than expected US Non-Manufacturing ISM for August. • US and Canadian employment reports due at 8:30amET this morni...

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

  • (News by tags)
    Bank of Canada keeps rates on hold, but signals nothing with regard to rate cuts

    • Disappointed markets pare Canadian rate cut bets for October. USDCAD plunges. • All eyes now on BOC Deputy BOC Governor Lawrence Schembri speech at 12pmET. • US ADP employment report for August beats expectations: +195k vs +149k • US Non-Manufacturin...

    ...0s chart support in the European AM.  There’s also an air of “risk-on” to markets this morning following news last night that the US and China will hold another round of talks in October, and this is lifting global bond yields broadl...

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

  • (News by tags)
    Key technical reversals, weak US ISM, reduced "no-deal" Brexit risk propels USD lower

    • Bank of Canada rate decision up next at 10amET. • Traders expect no change to rates + more dovish tones to sow the seeds for a rate cut later this fall. • Barrage of Fedspeak on tap today as well: six Fed members speaking + Fed’s Beige Book report at 2...

    ...ldquo;no-deal” Brexit risks is adding some fuel to the fire on an otherwise quiet morning when it comes to other European news headlines.  ECB President-to-be, Christine Lagarde, said this morning that “inflation is persistently too low&rd...

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

  • (News by tags)
    Markets not in a good mood to start September

    • New US/China tariffs now in effect. S&Ps -23. Crude oil -3%. Gold +16. • EURUSD sales continue, following Friday’s key breakdown below 1.10. • GBPUSD falls below 1.20 level, but emergency “no-deal” Brexit vote sees a relief bounce. • RBA leaves rat...

    ...ning as the USD trades broadly higher.  Some of this appears to be a mild case of “risk-off” following weekend news that the US and China went ahead with their latest tariff increases on each other.  Some of the broad USD buying also ...

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

  • (News by tags)
    Canadian GDP for June beats expectations

    • Canadian June GDP +0.2% MoM vs +0.1% exp. Q2 2019 reported +3.7% vs +3.0% exp. • USDCAD dips on the release, but still remains within recent range. • Bank of Canada rate decision on deck next Wednesday. How will they talk about the recent external ne...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Calm remarks from China's MOFCOM sparks risk-on bid

    • MOFCOM: Opposes escalation of trade war, willing to resolve, hopes US can meet China half-way. • S&Ps and crude oil trade higher, while global bonds move moderately lower. • EURUSD bogged down by weak German CPI and dovish comments from Christine Lagar...

    ...he necessary conditions for negotiations ahead of planned talks in September.  There’s not a whole lot of new “news” here in our opinion, or detail for that matter, but we think we’re seeing a “risk-on” bid this mor...

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

  • (News by tags)
    Boris Johnson asks the Queen to formally UK prorogue parliament

    • GBPUSD falls 0.7% as UK opposition leaders go into an uproar. Queen’s speech set for Oct 14. • Italy looks set to avoid elections and form a new coalition government. EURUSD traders don’t care. • USDCAD saved yesterday by deepening yield curve invers...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    GBP resumes rally following joint statement from UK opposition to stop a "no-deal" Brexit.

    • Euro continues on the defensive, with German economic woes and Italian political anxiety weighing. • Commodity currencies outperformed yesterday following Trump-driven ramp to risk assets. • AUDUSD traders looking at potential follow-through of bullish...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Dazed and confused.

    • Traders try to make sense of this weekend’s surreal US/China trade headlines. • Markets go risk-off at Sunday open following late Friday Trump tariff increase on China. • Comments from China’s Liu He appear to restore calm in Europe. Trump says “two v...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    China announces retaliatory tariffs on the US. Over to you now Jerome Powell.

    • China to levy retaliatory tariffs of another $75bln on US goods, starting September 1st. • Global Times editor-in-chief Hu Xijin tweets earlier “The US side will feel the pain”. • Canadian Retail Sales beat: 0.0% MoM vs -0.3% on the headline, +0.9% vs ...

    ... AUDUSD The Aussie traded down with EURUSD in overnight trade, but is now taking another swoosh lower following breaking news that China will levy retaliatory tariffs of another $75bln on US goods, starting September 1st.  The joke making the r...

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

  • (News by tags)
    FOMC Minutes stoke confusion, but "Fed rate cut trade" unwinds a bit further.

    • Bond, Eurodollar and gold futures all lower post FOMC Minutes. USDJPY back at yesterday’s session highs. • Germany reports better headline Manufacturing PMI for August, but report shows weak internals. • EURUSD whipsaws above and below 1.1090s follo...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Positive Brexit comments from Angela Merkel leads to broad USD sales yesterday. FOMC Minutes on deck.

    • Merkel on the Irish backstop: “we will think about practical solutions”…“we have made our offer to work closely”. • Broad USD sales reverse a bit in Europe following negative comments from other German officials. • October oil prices break above 56.50....

    ...exp and +2.0% vs +1.7% exp).  Traders are now taking USDCAD lower to test familiar trend-line support in the 1.3250-70s as this news technically gives reason for the Bank of Canada to be less dovish than expected when it meets next on September 4th.  The q...

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

  • (News by tags)
    Broader USD trading quietly, building upon yesterday's gains.

    • EURUSD gives up trying to hold 1.1100 level. German bund yields back down to -0.70%. • GBPUSD back in sell mode after the EU’s Tusk rejects Boris Johnson’s demand to remove backstop. • RBA Minutes don’t offer new monetary policy clues. AUDUSD still p...

    ...ers came in negative again month-over-month (-1.2%), but they were not as bad as expected (-1.8%).  This somewhat positive news, along with another failed attempt by traders to hold gains above the 1.3330s in the last hour, is now inviting some USDCAD...

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

  • (News by tags)
    Risk bid in quiet start to the week. Powell speaks at Jackson Hole on Friday.

    • Markets continuing Friday’s “risk-on” move from Speigel report: German ready for deficit spending if recession hits. • Fed rate cut trade also dialing back bets ahead of speech from Jerome Powell at Jackson Hole. • Bundesbank sees risk of Germany enter...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Global risk tone relaxing a bit as US 10s2s spread trades wider, back above zero.

    • S&P futures +26. Bonds, Eurodollars, and gold trading off yesterday’s highs. • Still no love for EURUSD as the ECB’s Rhen hints at monetary policy bazooka in September. Bunds trade to new lows -0.72%. • AUDUSD struggling to build upon Australian job ...

    ...Crude oil traders seemed to be more focused on the dimmer 2019 demand outlook as that’s the real bit of “new” news here, and so the September futures have fallen back about $0.80 in the last hour.  This is giving USDCAD a bit of a li...

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

  • (News by tags)
    China hopes US will meet it half way. US Retail Sales, Philly Fed and Empire Survey all beat expectations.

    • China threatens tariff retaliation but then says it hopes US will meet it half way on trade. • Risk assets gyrate in overnight trade, but positive US economic data gives sense of optimism for NY trade. • Sterling outperforming after UK Retail Sales for...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Recession fears grow as the 10s2s yield curves go inverted in the UK and the US

    • Global “risk-off” in full effect this morning. Stocks/oil down while bonds/gold/Eurodollars/USD up. • Bad July Chinese Industrial Production/Retail Sales data, German Q2 GDP contraction add to doom and gloom sentiment. • Sterling finds bid after bette...

    ...e technicals look a bit more positive.  The overnight session has been a doozy to say the least.  We got bad economic news out of China (July Industrial Production +4.8% vs +5.8% exp, July Retail Sales +7.6% vs +8.6% exp), more bad news out of Ge...

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

  • (News by tags)
    German ZEW misses. US CPI beats. USDCNH steady.

    • German July ZEW misses: Current Situation -14.5 vs -7.0 exp. Expectations Index -44.1 vs -28.5 exp. • US July CPI beats on the headline: +1.8% YoY vs. +1.7% exp, but wage growth disappoints MoM. • EURUSD traders shake off weak German data, so far shak...

    ...t crisis of 2011.  Surprisingly though, EURUSD has rallied higher and we think the market’s inability to fall on bad news here is very telling.  Perhaps blame it on December gold prices, which continue to march higher this morning, but this...

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

  • (News by tags)
    The Fed disappoints the uber doves but US/China trade war escalation sees global interest rates resume downtrend

    • Fed cuts interest rates by 25bp, cites cut as insurance, mid-cycle adjustment and not the start of a rate cutting cycle. • Interest rate markets collectively say “ya-right” the next day and resume downward trend. • Trump threatens new 10% tariff on $30...

    ...w the market collapse further on Friday.  Today’s bounce feels technical and flow driven as there is not much Brexit news to digest.  Horizontal chart support in the 1.2030s (from January 2017) has been regained.  The EURGBP cross is s...

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

  • (News by tags)
    Mario Draghi disappoints the doves, leads to Fed rate cut jitters ahead of next week's FOMC meeting.

    • ECB keeps deposit rate unchanged at -0.40%. Admits rate cuts not even discussed. • ECB exploring options to reinforce its forward guidance on policy rates. • Fed rate cut trade takes a hit as markets fear Powell might disappoint next week as well. • ...

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

  • (News by tags)
    German Manufacturing "in freefall" according to IFO. Over to you Mario Draghi.

    • July German IFO survey: 92.2 vs 94.0 exp for Expectations, 95.7 vs 97.2 exp for Business Climate. • All eyes now on ECB press release up next at 7:45amET. Mario Draghi press conference at 8:30amET. • OIS pricing still pricing in 40% chance of 10bp cut...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Germany's flash PMI for July surprises to the downside again

    • German flash PMI (July) misses: 51.4 vs 52.3 exp. 52.6 prev. • Eurozone flash PMI (July) misses: 51.5 vs 52.1 exp. 52.2 prev. • German bund yield back down to -0.38%. EURUSD pressuring 1.1130-40s chart support. • AUDUSD losses 0.7000 support in Asia...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Boris Johnson becomes new UK Prime Minister

    • GBPUSD gyrates a little bit after the announcement, but not much has changed re: Brexit. • “Fed-rate cut trade” unwinds a little further. EURUSD and AUDUSD slump after poor technical closes in NY yesterday. • USDCAD continues higher, with broad USD de...

    ...n defeated rival Jeremy Hunt by 92,153 to 46,656 in today’s final vote to decide the Tory leadership race, and while this news may sound positive for markets that are clamoring for some sort of certainty regarding the UK’s future, this result w...

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

  • (News by tags)
    Fed enters blackout period ahead of next week's meeting

    • No Fed members can speak until FOMC meeting on July 31st. • Fed rate cut trade still licking its wounds after Friday’s reversal of Thursday’s breakout. • Oil markets taking Iran’s seizure of UK-flagged Stena Impero in stride. • Canadian Wholesale Sale...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Fed's Williams goes uber dovish yesterday. NY Fed and Bullard try to dial it back.

    • Embarrassing Williams fiasco sees “Fed rate cut trade” explode higher, then retrace. • EURUSD and Italian markets fretting about possible snap election in Italy. • Canadian Retail Sales for May miss expectations: -0.1% MoM vs +0.3%. • Fed’d Bullard to...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    EU's Barnier "ready to work on alternative arrangements” regarding the Irish border

    • GBP rallies across the board. Lawmakers now voting on plan to make it difficult for future PM to prorogue parliament. • EUR sells off following Bloomberg report about ECB studying revamp of inflation mandate. • Crude catches a bid following reports of...

    ...story that the ECB is considering shifting how it targets inflation.  More here.   This could potentially be big news for EURUSD should the whole “below, but close to 2% inflation” mandate (which arguably hasn’t worked) be ...

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

  • (News by tags)
    Positive talk on Iran clubs oil prices yesterday, lifts CAD crosses

    • USDCAD back near 1.3070s pivot. EURCAD back above 1.4640s. • Canada reports mildly weaker CPI report for June. May Manufacturing Sales miss expectations. • US reports weaker than expected June Housing Start and Building Permit data. • GBP looks the ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Boris Johnson & Jeremy Hunt declare Irish backstop dead

    • GBPUSD plunges to Jan 3rd flash crash lows. EURGBP finally breaks above 0.9000. • German ZEW for July MISSES: -24.5 vs -22.3 for Economic Sentiment and -1.1 vs +5.0 for Current Situation. • EURUSD falling with GBPUSD and EURJPY cross sales. • US Reta...

    ...de overnight, it made the market vulnerable to downside surprises.  The first surprise came in the form of some negative Brexit news, which saw GBPUSD plunge lower, and then from the German ZEW Survey for July, which got reported below expectations yet aga...

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

  • (News by tags)
    Upbeat Chinese industrial production data for June lifts CNH and commodity currencies

    • China June Industrial Production +6.3% YoY vs +5.2% exp. Chinese yuan and copper prices rally. • USDCAD pressuring 1.3020s while AUDUSD inches higher towards 0.7040s. • EURUSD and GBPUSD struggling with overhead chart resistance. GBP lags as EURGBP m...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Rally in bund yields, hotter US inflation data and not-so-dovish Fed-speak stifles Fed rate-cut trade

    • German bund yield extends to new 2 week highs of -0.23%. • Fed’s Barkin, Bostic and Quarles speak more positively about US domestic outlook. • Broader USD mixed, with commodity currencies extending post Powell gains, while EUR and GBP lag. • State of ...

    ...wave of broad USD buying come in, but it’s been rather mild.  We think traders are going to need a day to digest the surprising news and so we think EURUSD flounders here around the 1.1230-40s.  A move back below the 1.1230s would be a decidedly negative t...

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

  • (News by tags)
    Everyone's blaming it on trade tensions. Could it be something more?

    • Powell cites increased risks of trade tensions, slowing global growth, low inflation in testimony to Congress. • Rate cut of 25bp at July 31 FOMC meeting now a foregone conclusion. Odds of 50bp cut increase back up to 30%. • Bonds recover, August gold...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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  • (News by tags)
    All eyes on Powell at 10amET. Text of testimony to be released at 8:30amET.

    • Bank of Canada interest rate decision and Monetary Policy Report at 10amET as well. Press conference at 10:15amET. • USDCAD overnight options pricing predicting 70-80pt intra-day range. • August crude 2% higher after weekly API reports shows larger th...

    ...ar/CAD sits at familiar chart resistance in the 1.3120-30s this morning as the broader USD enters a lull ahead of a huge day of news.  First up will be the text of Jerome Powell’s speech before the US House Financial Services Committee (to be released at 8...

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

  • (News by tags)
    Fed rate-cut trade get nervous ahead of Powell testimony

    • US treasuries, Eurodollar futures, and gold dip lower again. USD broadly higher. • Sterling takes out chart support at 1.2500, trades to new 6 month lows. Funds continue to short the market. • EURUSD getting dragged lower as ECB bond buying talk make...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    FX markets quiet. Deluge of Fed-speak on tap this week.

    • Fed’s Powell to deliver semi-annual MPR before Congress on Wednesday and Thursday. • FOMC Minutes and speeches from the Fed’s Bostic, Quarles, Barkin and Kashkari also expected. • Fed rate-cut trade gets hit on Friday following upbeat June payrolls rep...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    The rush for global government bonds goes into overdrive

    • Over $13.4 trillion in global debt now yielding below zero. German bund yield matches ECB deposit rate, -0.40%. • LIBOR curve up to 1yr remains inverted. Entire US treasury curve up to 30yrs now yields less than Fed funds. • US reports weaker than ex...

    ...Services PMI data out of Europe and the decision by Brussels to refrain from sanctioning Italy over EU budget rules was welcome news for everything Italian (BTP bond yields plunging to 1.60%), we think the news that IMF chief Christine Lagarde has been nom...

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

  • (News by tags)
    Poor global manufacturing PMIs for June + renewed EU tariff threat snuff out mild G20 optimism

    • June Manufacturing PMIs disappoint across Asia and Europe, putting renewed pressure on bond yields. • US threatens EU with $4bln worth of new tariffs amid ongoing spat over aircraft subsidies. • OPEC and Russia agree to extend production cuts as expect...

    ... Independence Day.   ANALYSIS USDCAD Canadian traders are returning from a busy long weekend of news to find USDCAD moderately higher from Friday’s closing levels.  The G20 meeting produced a “truce” between the US and China...

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

  • (News by tags)
    Traders eyeing Canadian GDP, Business Outlook survey, G20 and OPEC ahead of long weekend

    • Canadian April GDP expected +0.1% MoM. Bank of Canada’s Business Outlook Survey out at 10amET. • Traders on G20 & OPEC watch as well. • USDCAD threatening break of 1.3080s chart support. AUDUSD trading as if G20 will not yield any negative surprises....

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    WSJ article sours risk mood ahead of G20

    • China’s President Xi is reportedly set to present President Trump with a set of terms. • Markets anticipate Trump to respond negatively. • USDCAD continues to struggle as oil prices make another run for $60 ahead of the OPEC meeting next week. • EURU...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Mnuchin says US/China trade deal is 90% complete...again

    • Rehash of April FT headline sees equities, bond yields, CNH and commodities currencies all higher. RNBZ keeps rates unchanged. • Gold falling 0.8% with yesterday’s bearish hammer close not helping. • US Durable Goods Orders for May come in mixed. Week...

    ...g after US Treasury secretary Mnuchin said the US/China trade deal is 90% complete, when speaking to CNBC earlier.  This is old news in our opinion, and sounds very similar to a Financial Times article in April where the US said they were in agreement with...

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

  • (News by tags)
    Fedspeak Tuesday features speech from Jerome Powell at 1pmET

    • Fed’s Powell to speak at CFR in speech titled Monetary Policy Strategy, Tools and Communication Practices • Investors continue to pile into the safe havens as Iran diplomacy takes a turn for the worse. • German bund yields trade to new lows, US 10s pre...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Trump says Fed "doesn't know what it is doing"

    • Questions still on everyone’s mind following last week’s sudden capitulation from the Fed. • EURUSD extends gains following Friday’s break above 1.1340s. Funds continue to cover shorts. • GBP and AUD traders add to shorts as charts start to bottom. •...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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

  • (News by tags)
    The Fed just capitulated

    • FOMC gives markets what it wanted; hastily signals US rate cuts to come this summer/fall. • Powell cites increased trade uncertainty, weaker business investment, prolonged inflation shortfall. • Fed’s Bullard dissented; wanted FOMC to cut 25bp yesterda...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Fed under pressure today to cave to market's demand for rate cuts later this year

    • Interest rate traders pricing in 25bp cut for July and another 60bp of easing by year’s end. USD traders not so optimistic. • Canadian CPI for May surprises to the upside, +2.4% YoY vs +2.1% exp. • Trump continues to put political pressure on Powell t...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Super Mario unleashes dovish surprise ahead of Fed meeting tomorrow

    • European bond yields plunge, market pricing for ECB cuts moved up 7 months. • EURUSD falls to 1.1180s support but comments from Trump & Praet help the market bounce. • AUDUSD bounces off 0.6830s support. Dovish RBA Minutes were nothing new for traders...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    US Retail Sales comes in mixed for May, but with surprise positive revisions to April data

    • Fed rate cut frenzy trade gets dialed back. Gold, bonds, Eurodollar off highs. USD broadly higher. • Pressure mounts for ECB to cut rates too as 5y5y inflation swap forwards trade to new lows 1.14%. • German bunds trade to new lows -0.27%. EURUSD no...

    ...a.  Chart support in the 1.1240s is getting tested, and the next level below that lies in the 1.1210s.  We think this news now muddies the Fed rate cut excitement for next week a little bit and is leading traders to consider the thought that the ...

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

  • (News by tags)
    Oil prices surge 4% after two tankers attacked in the Gulf of Oman

    • USDCAD recedes off chart resistance in the 1.3330s, but no risk-off flows evident. Gold and JPY steady. • EURUSD testing chart support in 1.1270-80s after losing 1.1310s yesterday. • Boris Johnson shows commanding lead in Tory leadership race. Wins ...

    ...ident (gold and JPY steady).  The S&Ps futures are actually trading higher, which makes no sense to us.  In other news, the EU’s Moscovici said Europe is ready to move forward with disciplinary procedures over Italian debt if there no n...

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

  • (News by tags)
    Fed rate cut trade now looking for soft US May CPI figures to support

    • Traders expecting +1.9% YoY & +2.1% ex food and energy. • Crude oil continues lower after bearish APIs. Weekly EIA report out at 10:30amET. • European 5y5y inflation swap trades to new record lows, doesn’t help ECB. • Boris Johnson not aiming for no-...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Quiet FX markets await fresh catalysts. US May PPI on deck.

    • Traders expecting US PPI +2.0% YoY for May and +2.3% ex. Food and energy. • UK wage growth for May beats expectations, helps GBP mildly outperform. • PBOC fixes CNY higher last night. USDCNH recedes off 6.94 handle. • Option expiries in play for EURU...

    ...nt count rose slightly more than expected (23.2k vs 22.9k), wages rose +3.1% 3M/yr vs +3.0% expected, and when you combine this news with some hawkish commentary from the BOE’s Saunders, we have a small GBPUSD rally on our hands.  The upward mom...

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

  • (News by tags)
    Mexico tariffs averted as US & Mexican negotiators reach deal

    • MXN surging 2%. Global risk-off trade reverses. Gold drops and bond yields bounce. • USDCAD still in the pits following double whammy of negative US/positive Canadian jobs data on Friday. • GBPUSD gives up post NFP gains following much weaker than ex...

    ...     USDJPY Dollar/yen gapped up with global interest rates at the Sunday open yesterday, following the news that the US will not be proceeding with tariffs on Mexico.  MNI News is also reporting that the BOJ is becoming more a...

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

  • (News by tags)
    It's jobs Friday!

    • Traders expecting +185k new jobs in the US and just 5-8k new jobs in Canada for May. • PBOC’s Yi Gang says China has “tremendous” room to adjust monetary policy if the trade war deepens. • USDCNH pops when Yi says “no number is more important than any ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    ECB extends "on-hold" rate guidance until 1H 2020, killing rate cut speculation heading into meeting.

    • Mario Draghi’s press conference now underway. Live link here: https://t.co/N52MkNqX25 • EUR buying leading broad USD selling into NY trade. GBP, AUD, CAD all trade higher. • USDJPY continues to struggle as US 10s, gold, Dec Euros continue to focus on...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    RBA cuts rates 25bp. Markets calm down ahead of speech from Powell.

    • Australia central bank cuts rates by 25bp to 1.25% and continues to hint at another cut by years end. • AUDUSD barely unchanged as Governor Lowe has telegraphed this outlook for over a month. • S&P futures, US yields and the broader USD bounce ahead of...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Gold prices and Eurodollar interest rate futures race higher to start week

    • Traders starting to seriously price in Fed rate cuts for later this year. Broader USD suffering as a result. • USDCAD records bearish reversal on Friday’s chart. Bounce in oil prices not helping today. • EURUSD technicals turn increasingly positive w...

    ...er this morning as the familiar risk-off themes from Friday spill over into this week.  The weekend didn’t produce any positive news on the US/China trade front, and if anything, China’s tone has become a little more combative after the Chinese Vice Minist...

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

  • (News by tags)
    Trump to slap Mexico with 5% tariff. China readies plan to restrict rare earths.

    • Canadian GDP for March/Q1 comes in mixed. • USDCAD struggling to benefit considerably from global risk aversion flows. 1.3510s pivotal for the current rally. • EURUSD follows gold prices higher, ignores weak German data. • GBPUSD selling resumes foll...

    ...copper prices today.  We think this is part in parcel due to the rally in gold prices and EURUSD’s inability to make news lows here.  We also think the fact that USDCNH hasn’t yet taken out the 6.9500 level to the upside is somewhat s...

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

  • (News by tags)
    Bank of Canada rate decision in focus for USDCAD traders, with risk aversion flows supporting

    • Bank of Canada decision at 10amET. No press conference. No change expected with balanced outlook. • S&P futures -20. US 10s down 4bp to 2.22%. Global investors fleeing to bonds. • USD seeing broad demand, but the move is fading into NY trade. • Ge...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USD trading mixed in quiet start to holiday shortened week

    • US traders returning from Memorial Day long weekend devoid of major US/China trade headlines. • USDCAD bouncing but trend-line resistance in the 1.3470s capping. • EURUSD holding support in the 1.1170s after Thursday’s gold-inspired bullish outside day...

    ...or its failure to meet EU budget rules.  More here.  The Italian 10-yr BTP yield shot up to 2.70% from 2.55% yesterday when the news broke, but EURUSD traders appear to be taking the news in stride ever since.  Italian deputy PM Salvini has said today that...

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

  • (News by tags)
    Rising US oil inventories save USDCAD. Markets in risk-off mode again today

    • China warns the US to correct wrong doings. PBOC reiterates it has the tools to keep the yuan stable. • Germany’s Markit PMI and IFO survey for May miss expectations. Eurozone Markit PMI also disappoints. • Theresa May facing cabinet mutiny as Andrea...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Canadian core Retail Sales for March smash expectations (+1.7% MoM vs +0.9%)

    • USDCAD retreats further. Fibonacci chart support in the 1.3370s now pivotal for near term direction. • Theresa May’s Brexit gambit backfires. 1922 Committee meets at 11amET. • Talk swirling that Theresa May could be out of a job by Sunday. • Sizable...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Hawkish comments from Poloz and lifting of US/Canada metal tariffs sees USDCAD u-turn lower

    • USDCAD now testing 1.3400 chart support. Canada reports March Retail Sales tomorrow. • RBA’s Lowe considering rate cut in two weeks. AUDUSD retreats to fill Sunday opening gap higher following elections. • AUD selling dragging EURUSD lower, but marke...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Markets on edge once again as the Chinese reportedly lose interest in negotiating

    • China sees little sincerity in the US approach to trade talks. • Oil prices trading bid as two new US war ships enter Persian Gulf. • Tory/Labour Brexit talks formally break down. Boris Johnson enters Tory leadership race. • Broad demand for USD se...

    ...e 1.2770s (or the February 2019 lows) has given way in early European trading today and a flood of selling has ensued.  Today’s news about Tory/Labour Brexit talks formally breaking down is the last thing the market needs right now and we think Boris Johns...

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

  • (News by tags)
    US Housing Starts, US Philly Fed, Canadian Manufacturing Shipments all beat expectations

    • USDCAD trying to recover after planned Trump auto tariff delay sees broad USD selling yesterday. • EURUSD back on the defensive after two failed attempts to get above 1.1220s. Strong US data this morning not helping. • GBPUSD continues to be plagued b...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Risk off flows back in action. US Retail Sales and Canadian CPI figures for April up next.

    • Traders expecting +0.2% MoM and +0.7% MoM ex. Autos for US Retail Sales. • Consensus looking for +0.4% MoM and +2.0% YoY for Canadian CPI. • Australian May Consumer Confidence and Q1 Wage Price Index misses expectations. • Chinese April Retail Sales a...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Trump believes discussions with China will be very successful. Expects outcome in 3-4 weeks

    • S&Ps +20, USDJPY bounces, USDCNH off yesterday’s highs. • Italy’s Salvini giving EUR traders an excuse to sell. EURUSD decouples from gold prices for now. • Sterling toying with both sides of 1.2930s pivot, but sellers now taking over. • AUDUSD stari...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    US/China trade war heats up. China retaliates with $60bln in new tariffs effective June 1

    • S&Ps -60. USDCNH explodes higher once again, now above 6.90. Gold prices spiking $10 higher, lifting EURUSD. • GBPUSD following the Euro higher, albeit mildly. Trade-sensitive AUDUSD lags as copper losses 1.7%. • USDJPY collapses amid risk-off flows...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Canadian April employment report in focus. Tariffs raised on China overnight, but US/China talks set to continue.

    • Traders expecting 10k jobs gained, +2.3% YoY growth in wages, and 5.8% on the unemployment rate. • US CPI report for April expected +2.1% YoY and +0.4% MoM. • EURUSD following gold prices over the last 24hrs. • AUDUSD higher initially post RBA Monetar...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Markets on edge as Chinese trade delegation set to arrive in Washington today

    • S&Ps -20. USDJPY offered once again. USDCNH breaks out above the 6.82s. • USDCAD and EURCAD struggle to break 1.3500 and 1.5100 respectively. • EURUSD holding steady amid slew of option expiries at current levels. • China releases its April CPI in-l...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    China backtracked on nearly all aspects of US trade deal, according to Reuters

    • Reuters article leads to more S&P selling, but USD demand not so widespread today. • EURUSD holding up as German Industrial Production for March beats expectations. • GBPUSD notably underperforming as Tory/Labour talks appear to have broken down. • AU...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    European Commission chops Germany's 2019 growth forecast in half

    • EURUSD sales leading broad USD strength into NY trade. • S&P futures volatile, as Lighthizer/Mnuchin confirm Trump’s China tariff threat for Friday. • China to send Vice Premier Liu He to Washington after-all, but only on Thursday. • German Factory Or...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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

  • (News by tags)
    Trump shocks markets with tweet about raising tariffs on China this Friday

    • Shanghai Composite crashes 5.6%. Chinese Yuan collapses. USD, JPY and bonds go bid. • USDCNH blasts higher through 6.7450s. AUDUSD gaps lower. USDCAD gaps higher. • Hefty option expiries and upbeat Services PMI data keeps EURUSD as the directionles...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USD trading bid ahead of the US non-farm payrolls report

    • Traders expecting +190k jobs gained for April. • US Non-Manufacturing ISM out at 10amET. Slew of Fedspeak on deck after that. • Fed’s Evans speaks at 10:15am. Clarida 11:30amET. Williams 1:45pmET. Bowman 3pmET. • UK Markit Services PMI misses expe...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Powell sees low inflation as transitory. USD goes bid post Fed meeting

    • April Manufacturing PMIs out of most of Europe surprise to the upside, but Germany’s number disappoints. • Bank of England keeps monetary policy unchanged. Raises GDP forecasts but trims inflation projections. • Sizable, post-Fed, option expiries in p...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Positive Poloz kills upside USDCAD momentum. US ADP employment report beats expectations.

    • US ISM (April) up next at 10amET. Weekly EIA oil inventory report at 10:30amET. • FOMC announcement at 2pmET, followed by press conference at 2:30pmET. BOC’s Poloz speaking again at 4:15pmET. • Treasury secretary Mnuchin concludes “productive” meetin...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Canadian GDP contracts 0.1% MoM in February. Data helps to stem USDCAD selling

    • Canadian GDP for February misses estimates: -0.1% MoM vs 0% and +1.1% YoY vs +1.4%. • Canadian Raw Material Price Index misses: 2.8% vs 3.9% for March. • Italian and Eurozone preliminary Q1 GDP beat estimates, helps boost EURUSD. • GBPUSD rallying hig...

    ...rallying higher with EURUSD since the start of European trade.  Nothing positive has crossed the wires today in terms of Brexit news.  In fact, it’s been quite the opposite as Theresa May is now reportedly about to face an unprecedented challenge to her le...

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

  • (News by tags)
    USD trading quietly bid ahead of busy week

    • China PMIs for April out tonight. Fed meets on Wednesday. US Employment Report on Friday. • Leveraged funds add to USD longs against EUR, GBP, AUD and JPY (during week ending April 23). • S&P affirms Italy’s BBB credit rating. • Brexit headlines few...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    US headline GDP figures for Q1 2019 beat expectations, but inflation readings disappoint

    • USD shoots higher initially, then reverses lower. FOMC meets next Wednesday. • Rumor of waiver for China on Iran oil imports hurting oil prices, but USDCAD fails to really benefit. • EURUSD, GBPUSD and AUDUSD attempting short covering rallies post US ...

    ...anian oil imports (Iran exports about half of its oil to China).  This combination of mixed US data and bearish oil market news is keeping USDCAD stuck around the high 1.34s as NY trading gets underway today.  We think the market may be vulnerabl...

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

  • (News by tags)
    Bank of Canada delivers more dovish than expected hold to interest rates. Broad USD buying continues today

    • US Durable Goods for March beat expectations, +2.7% MoM vs +0.8%. • Stephen Poloz tries to kill rate cut speculation, USDCAD struggling a bit at post BOC highs. • EURUSD trades to new 2yr low, but buyers trying to step in now at 1.1120s chart support. ...

    ...ickly evaporated in early Asia trade overnight and put the pressure on these new USDJPY longs to seek more dovish than expected news out of the Bank of Japan later in the session.  That news never materialized, with the BOJ keeping to the status quo as usu...

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

  • (News by tags)
    Australian CPI disappoints. Bank of Canada rate announcement up next at 10amET.

    • Weak Australian Q1 CPI sees AUD plunge lower. RBA rate cut speculation increases. • Bank of Canada expected to hold rates steady at 10amET. Press conference at 11:15amET. • USDCAD breaks higher out of 6-week triangular consolidation. • Crude oil pri...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Talk of China potentially curtailing economic stimulus hurts Chinese stocks, yuan and commodity currencies

    • China stocks off 1.5%. USDCNH through 6.7190. AUDUSD loses 0.7120s. USDCAD back at range highs. • Sellers pounce on EURUSD and GBPUSD at overnight chart resistance. Both pairs now seeing heavy selling into NY trade. • UK parliament returns from Eas...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    US to end Iran sanction waivers for oil importers. Markets otherwise quiet on this Easter Monday.

    • June crude oil gallops 2% higher, sees USDCAD ease slightly off Thursday’s highs. Bank of Canada decision on Wednesday. • EURUSD drifts higher. German IFO tomorrow. US Durable Goods on Thursday. US Q1 GDP on Friday. • GBPUSD slips further as the fu...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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 & Ca...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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 c...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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,...

    ...nty, weakness in housing demand and impacts from global trade tensions.”  More here.  This weaker than expected news caused an intra-day USDCAD short squeeze in our opinion yesterday, as the market’s break below 1.3315 prior to the he...

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

  • (News by tags)
    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...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    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...

    ...e JPY!  China reported upbeat export and loan growth data for the month of March about an hour before this, and while some news outlets are saying this is a reason behind today’s “risk-on” tone to global markets, we think the EURJPY ...

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

  • (News by tags)
    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 “...

    ...nd it too reported a drop in production (-550k bpd) and supply (-340k bpd).  While on the surface this sounds like bullish news for oil prices, we’d argue that a lot of this is already priced into the market.  Plus, while the agency kept it...

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

  • (News by tags)
    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...

    ...over { background-color:#ffcd32; } Summary USDCAD: It’s been a busy morning so far in terms of news flow for the broader markets.  OPEC released its monthly report and it basically confirmed the oil market’s bull...

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

  • (News by tags)
    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...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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 coppe...

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

  • (News by tags)
    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. • GBPU...

    ...ail Sales figures on Wednesday.  May copper prices are hugging support at the 2.90s again this morning, which is not great news for AUDUSD in our opinion. USDJPY: Dollar/yen has been attempting to grind higher as S&P futures tra...

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

  • (News by tags)
    USD trading quietly higher ahead of US & Canadian employment reports tomorrow

    • USDCAD inching higher, with 1.3350-60 resistance channel acting as today’s pivot. • EURUSD slips lower following abysmal German Factory Order data and rumors of an Italian GDP downgrade for 2019. • GBPUSD sees selling traders give up on attempts to bre...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    Better than expected Australia and European data propels risk sentiment higher today

    • Australia reports stellar Retail Sales and Trade Balance data for February. • Pan-European Services PMI data beats expectations. • S&P futures trading higher while the USD trades broadly lower. • USDCAD hugging pivotal chart support at 1.3300. • US A...

    ... claiming that the US and China are 90% of the way there on a trade deal.  One could argue the FT’s article is known news and it’s really the final 10% which is of utmost importance now, namely the enforcement mechanisms and the removal of...

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

  • (News by tags)
    US Durable Goods for February on deck

    • Traders expecting -1.8% MoM. • USDCAD continues to struggle as stocks and crude oil extend gains. • AUDUSD falls after the RBA reiterates its neutral economic outlook. • GBPUSD trading lower again after the UK parliament fails to reach majority on fou...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Huge beat on Chinese manufacturing PMI boosts risk sentiment to start week

    • US Retail Sales and US ISM figures on deck today. • USDCAD holding chart support in the 1.3340-50s. BOC’s Poloz speaking at 3:10pmET. • EURUSD pivoting around the 1.1230s while AUDUSD wrestling with the 0.7120s. • GBPUSD rallying after a surge in the...

    ..., and jumped into expansionary territory (above 50) for the first time in four months.  Global markets are celebrating the news this morning by bidding up equities, bond yields, and commodity prices.  The broader USD and USDCAD is trading lower a...

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

  • (News by tags)
    Happy Brexit day

    • Britain was supposed to formally leave the EU today. UK lawmakers to vote on withdrawal agreement portion of Brexit deal at 9:30amET. • GBPUSD rallies off overnight lows on rumors that the Labour party will support Theresa May today. DUP party still d...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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

  • (News by tags)
    Traders continue to buy USD broadly as fears mount about Brexit deadlock and Turkish money markets

    • GBPUSD down 100pts lower from NY close. Turkish lira down 5%. • US final read on Q4 GDP disappoints, +2.2% YoY vs +2.4% expected. • EURUSD extends losses after 1.1240s support gives way. • AUDUSD hanging in there with option expiry and copper prices ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    New Zealand central bank surprises markets with dovish turn in monetary policy outlook

    • NZDUSD plunges 1.6%. Drags AUDUSD lower and helps to keep USDCAD bid. • EURUSD bounces after comments from Mario Draghi. German 10yr bund yield hits 2 ½ year low prior to that. • GBPUSD inches higher ahead of Parliament indicative votes, but still co...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USD trading mixed into NY trade

    • US Housing Starts for February miss expectations (1.162M vs 1.21M or -8.7% MoM vs -1.6%). • USDCAD trying to hold 1.3390s despite May crude oil galloping 1.8% higher. • AUDUSD drifting higher, with RBNZ rate decision on deck tonight. • GBPUSD rallies ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Better than expected German IFO survey calms some investors nerves

    • German bund yields trade back above zero. EUR and S&P futures bounce. • USDCAD holding gains above 1.3420s support as May crude oil struggles to regain $59. • GBPUSD drifts higher as Theresa May’s cabinet revolts. • AUDUSD following EURUSD higher, re...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Terrible German manufacturing PMI spooks markets

    • Germany Markit PMI for March comes in at 44.7 vs 48.0 expected. • Risk-off waves sweeps across markets. German bunds now yielding below zero. • Sterling avoids the selling as EU allows two-week Brexit extension. • USDCAD benefitting from broad risk o...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Fed outlook gives markets another dovish surprise, but traders now fretting over the underlying reasons for it

    • USDCAD roars back from post Fed lows, now threatening to break above 1.3330s. • EURUSD slips after testing 1.1420-30s resistance. • GBPUSD falls further today as traders angst about what the EU will allow in terms of a Brexit extension. • AUDUSD exten...

    ... hike, and signaled the end of its balance sheet runoff program (quantitative tightening) by September of this year.  This news caused a boost to US stocks and broad selling in the USD initially, but these knee jerk moves started to reverse themselves...

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

  • (News by tags)
    All eyes on the Fed today, with traders expecting modestly dovish tone to outlook

    • EURUSD drifts back up to trend-line resistance in the 1.1360s as USDCNH recedes. • AUDUSD recovers after cautious comments from the RBA’s Bullock. • GBPUSD falling hard now as Theresa May confirms request made to EU for short Brexit extension. • USDJP...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USDCAD uptrend at risk of unraveling

    • USDCAD now plunging as 1.3305 trend-line support gives way. • May crude oil continues rally after breaking out above 58.80s yesterday. • EURUSD drifts higher again but struggles at familiar resistance in the 1.1360s. • Sterling shorts cover at 1.3190-...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Optimism for a dovish Fed lifts broad risk sentiment to start week

    • S&Ps, oil, copper all higher while USD trades mixed to lower. • FOMC meets on Wednesday. Economic calendar quiet before then. • USDCAD holds trend-line support at the 1.3300 level. • EURUSD and AUDUSD drift higher as some trend-line resistance gives ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    China talks up further stimulus & US/China trade progress, but risk-on bid from Yuan strength now evaporating

    • April crude oil gives up 58.30s. USDCAD regains 1.3330s after bouncing off 1.3280-90s support. • EURUSD continues to struggle with 1.1320s resistance. Huge option expiries likely weighing as well. • GBPUSD trading calmly for a change. UK parliament ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Weak Chinese Industrial Production figures for January ignite broad USD buying

    • USDCNH surges through 6.72. Copper falls 1.4%. • EURUSD and AUDUSD peel back yesterday’s gains, while USDCAD bounces off 1.3280-90s. • GBPUSD explodes higher following failure of the “no-Brexit deal” motion yesterday. • Volatile session underway for ...

    ...t let’s see how we close out today. GBPUSD: Brexit headlines continue to suck up all the oxygen on the newswires.  Sterling extended its rally higher yesterday leading up to the 3pmET UK parliament vote on a “no deal&rdq...

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

  • (News by tags)
    Sterling bid after Theresa May loses 2nd meaningful Brexit vote yesterday. "No deal" Brexit vote on deck at 3pmET today.

    • Shorts cover after traders could not push GBPUSD below 1.3050s yesterday. The 1.3140-50s are now resisting. • EURUSD benefits from weak US CPI yesterday, but market still undecided with upside break of 1.1300 level. • AUDUSD lagging today following we...

    ...ome was largely expected by traders.  The market was also not able to break intra-day support in the 1.3050s following the news, which we think then forced some shorts to cover.  GBPUSD has been drifting higher ever since, despite lots of tough t...

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

  • (News by tags)
    Sterling goes on a Brexit roller-coaster ride

    • Last minute Theresa May trip to Strasbourg ignites 200pt rally in GBPUSD yesterday. • UK Attorney General says legal risk for the UK remains unchanged re: Irish backstop. GBPUSD collapses. • EURUSD putting fund shorts to the test with 1.1270s trend-li...

    ...the rumors this morning, by announcing new legally binding changes to the Irish backstop (which on the surface is very positive news), however the UK Attorney General, Geoffrey Cox, has just thrown cold water over all this by saying that the legal risk for...

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

  • (News by tags)
    US reports better than expected Retail Sales for January, but an already bad December number is revised lower

    • US January Retail Sales +0.2% MoM vs -0.1%; December revised -1.6% MoM vs -1.2% originally reported. • USDCAD bid, but within Friday’s post-employment report range (1.3405-1.3430). April crude oil bid on Saudi headlines. • EURUSD traders trying to hol...

    ...nutes last night.  April crude is trading bid once again following Friday’s strong rebound back above the 55.20s and news today about Saudi Arabia planning to cut oil production further in April.  The US Retail Sales report for January was ...

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

  • (News by tags)
    EURUSD plunges following ECB's announcement of new TLTROs and no rate hikes for 2019

    • EURUSD falling through 1.1280s support. ECB press conference now underway. • Sterling on the defensive as well following reports that Theresa May will likely lose next week’s vote on her Brexit plan. • AUDUSD hanging in there despite stronger Trade Ba...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USDCAD continues higher ahead of Bank of Canada meeting

    • Decline in oil prices + weak AUDUSD helping USDCAD test resistance in the high 1.33s. • Dovish hold to interest rates expected from the Bank of Canada at 10amET. • AUD plunges as Australian Q4 GDP disappoints. Rate cut calls now making the rounds. • ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Sterling losses lead broad USD strength into NY trade

    • USDCAD higher, but now running into chart resistance at 1.3340s. Bank of Canada meets tomorrow. • EURUSD holding support in the 1.1310-20s as the pan-European Services PMIs beat expectations. • GBPUSD falls despite upbeat UK Services PMI as algos sell...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USDCAD downtrend broken after Canada reports weaker than expected Q4 GDP

    • USDCAD now trading above 1.3260-70s, but gains fading as crude oil prices recover from Friday’s ISM-driven slump. • Bank of Canada meets on Wednesday. ECB meets on Thursday. • EURUSD continues to follow gold prices lower since 10am on Friday. Buyers ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USDCAD remains offered ahead of Canadian Q4 GDP figures

    • Traders expecting +1.2% QoQ Canadian GDP growth in Q4, and 0% growth for December. US Feb ISM out at 10amET. • April crude oil prices continue to trend higher. • Volatile 24hrs for EURUSD leaves traders whipsawed ahead of the weekend. • Sterling leak...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Significant beat on US Q4 GDP propels USD higher into NY trade

    • US Q4 GDP reported +2.6% QoQ vs. +2.3% exp. • Canadian Industrial Product Prices -0.3% MoM in January vs +0.1% exp. • USDCAD vaults higher into 1.3200-1.3225 resistance zone. • EURUSD tries to break out, but strong US GDP figures pull the market back....

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Canadian CPI meets expectations for January

    • Oil prices rebound 2% following bullish API report and comments from Saudi energy minister. • Weekly EIA oil inventory report out at 10:30amET. • USDCAD under pressure again with support in the 1.3120-30s being threatened. • GBPUSD rally continues aft...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    All eyes on Fed chairman Powell this morning

    • Fed chairman to present semi-annual Monetary Policy Report before the US Senate Banking Committee at 9:45amET. • USDCAD trading higher again this morning as crude oil prices still cannot recover from Trump’s “Oil prices are too high” tweet. • EURUSD si...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Trump extends March 1st tariff deadline with China

    • Global stocks and the Chinese yuan rally, and the USD goes broadly offered. • USDCAD bid returning though following tweet from Trump: “Oil prices getting too high”. April crude -2%. • EURUSD up on “risk-on” tone, but chart resistance in the 1.1360s st...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USDCAD bid ahead of Canadian Retail Sales report. Slew of Federal Reserve member speeches to follow.

    • Traders expecting -0.3% MoM for December Canadian Retail Sales. • EURUSD looking for buyers. Germany’s IFO Survey disappoints. • GBPUSD loses 1.3020s support ahead of the weekend. • AUDUSD nurses losses after yesterday’s bearish reversal. • USDJPY c...

    ...bsp; See hourly EURUSD chart.  Today’s North American calendar will be full of Fed-speak, so get ready to watch your newswire. 8:15am – Bostic 10:15am – Williams & Daly 12:00pm – Clarida 12:3...

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

  • (News by tags)
    Australian dollar plunges off overnight highs

    • Australian January employment report beats expectations, but Westpac rate cut call + coal import ban from China shocks market. • Broad USD selling into NY trade sees USDCAD back into 1.3160-70 support, EURUSD and GBPUSD retesting chart resistance. • US...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Dovish tilt from Fed hawk Mester and USDCNH plunge drives USD lower

    • USDCAD scrambling for support in the 1.3180s. • EURUSD and AUDUSD consolidating bullish daily reversals from yesterday. • GBPUSD pulling back after yesterday’s “Brexit optimism” surge. • Three Tory MPs quit today. May/Juncker meeting at 12:30pmET. •...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USD trading mixed ahead of quiet start to holiday shortened week

    • USDCAD holding 1.3230-40s as April crude struggles with $56 handle. • EURUSD on the defensive following technical selling and more weak European data. • GBPUSD continues to shake off Brexit negativity since Friday’s sharp rebound. Theresa May and Junc...

    ...h trend in wages continues to move higher).  We think traders might have to be on guard here for some potential positive Brexit news, given the market’s improving technical structure.  The next chart resistance levels are 1.2970-90, then 1.3050. ...

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

  • (News by tags)
    EURUSD trades lower as the negative European headlines continue to mount

    • Spain calls for snap elections in April. Italy’s Borghi bringing back euro-skeptic vibes. • ECB’s Couere admits economic slowdown broader and stronger than expected. TLTROs still possible. • UK Retail Sales beat expectations for January, but Brexit f...

    ...andering between support in the 1.2770s and resistance in the 1.2850s this morning as traders digest some positive and negative news.  UK Retail Sales for January was the positive headline this morning, coming in at +1.0% MoM vs +0.2% expected.  However, n...

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

  • (News by tags)
    US Retail Sales and Canadian Manufacturing Shipments disappoint by a wide margin

    • USD sees broad selling across the board, but CAD underperforming even further. • Swift selling hits the S&Ps and crude oil. • GBPUSD struggles to benefit as fears loom ahead of some Brexit amendment votes today. • AUDUSD wrestles with 0.7110 pivot. •...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Slightly hotter than expected US CPI figures adds to "risk-on" tone for the broader markets

    • US January CPI +1.6% YoY vs +1.5% exp. Core CPI +2.2% YoY vs +2.1% exp. • Mnuchin says talks with Chinese negotiators are going “so far so good”. • USDJPY extends gains with break above 110.50s. S&Ps +10. • AUDUSD unravelling NZDUSD driven pop; mark...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Snap-back in oil prices prevents USDCAD from breaking higher

    • Saudi Arabia expects to reduce oil production further, starting in March. Crude oil +2.2%. • Somewhat bearish OPEC Monthly Oil Report being brushed off. • EURUSD shakes off negative comments from the ECB’s Weidmann; defends 1.1270s chart support. • G...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USD starts the week with quiet bid

    • USDCAD stuck within Friday’s range post Canadian employment report, but downtrend still being threatened. • EURUSD now down for the 6th consecutive session after the 1.1340s give way again. • AUDUSD slips below support as USDCNH goes bid after the Chin...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Two-day USDCAD rally pauses ahead of Canadian jobs report

    • Traders expecting just 8k jobs gained in Canada for January. • Italian Industrial Output figures miss expectations. BTP/Bund spread widens further and pressures EUR. • Sterling buyers defending 1.2930-40s support after Carney’s post Brexit optimism ye...

    ...the March 1st deadline, after which tariffs of 25% will be applied on over 200bln USD of Chinese imports.  This surprising news sent US stocks into sell mode, knocked crude oil prices all the way down by $52, and consequently led USDCAD past chart res...

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

  • (News by tags)
    Bank of England holds rates steady. Optimism for a smooth Brexit lifts GBPUSD from kneejerk lows.

    • GBPUSD tests support in 1.2850 post BoE press release. Now working on bullish reversal. • EURUSD succumbs to further weakness following weak German Industrial Production + slash in European growth forecasts from EC. • AUDUSD on the defensive following...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Shock dovish turn in Australian monetary policy outlook punishes AUD

    • RBA’s Lowe abandons long held “next move is up” rate bias and shifts to neutral outlook. • USDCAD rallies in sympathy, but crude oil bounce off overnight lows now putting 1.3180-90s to the test. • EURUSD holds trend-line support despite poor German Fac...

    ...ling around the 2am hour, the market held support.  We think the market’s inability to fall further here on negative news could lead to a bounce higher today. GBPUSD: Sterling has had a quiet overnight session; retesting the N...

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

  • (News by tags)
    Reserve Bank of Australia delivers less dovish than expected hold on interest rates

    • AUDUSD rallies, but chart resistance in the 0.7260-70s confines market to recent range. • March crude oil fails to regain $55 in overnight trade. Falling 1% now and helping USDCAD find buyers. • EURUSD wrestling with 1.1420s pivot after decent Europea...

    ...er the UK Services PMI, unlike the other pan-European Services PMIs out today, missed expectations by a wide margin.  This news inviting more selling into the market after a miserable NY close yesterday which saw prices fall below chart support in the...

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

  • (News by tags)
    Broad USD demand from post ISM beat spills over into quiet start to the week.

    • USDJPY bursting higher, supported by trend-line break and bullish EURJPY technicals. • AUDUSD slips further with weaker than expected Building Permit data not helping. RBA meets tonight at 10:30pmET. • GBPUSD falls back to Friday’s lows following weak...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    US payrolls on deck. Traders expecting 165k jobs gained in January.

    • Sterling taking a leg lower after weaker than expected Manufacturing PMI. • EURUSD shrugs off weak pan-European manufacturing PMIs. Talk of large EURGBP buyer making the rounds. • AUDUSD nursing back losses from weaker than expected Chinese Caixin Man...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Patient Fed roils the USD. US/China trade talks going well, but deal not expected this week. US payrolls report on deck for tomorrow.

    • USDCAD collapses to mid-November lows. Mediocre Canadian data points from this morning supporting for now. • Post Fed EURUSD gains capped by chart resistance and poor European data. Italy went into recession in Q4 2018. • GBPUSD struggling with chart...

    ...all the way out to May 2020, suggesting rate hikes are now completely off the table in the US.  The stock market loved the news, rallying strongly to a new high on the year.  Bond fund manager Jeffrey Gundlach slammed Powell saying he is “c...

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

  • (News by tags)
    US/China trade talk optimism leads the Chinese yuan and commodity currencies higher into NY trade. FOMC meeting at 2pmET.

    • No change in interest rates expected from the Fed. Traders will focus on pace of balance sheet unwind. • Sterling on the defensive following defeat of Cooper amendment/passage of Brady amendment. Theresa May must now go back to Brussels. • AUDUSD out...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Brexit in focus once again today. UK Parliament to vote on key amendments at 2pmET.

    • Cooper amendment seeks to delay Brexit. Brady amendment seeks to confirm UK’s need to renegotiate Irish backstop. • EURUSD struggling to break out, despite breach of chart resistance and new 6 month high in gold prices. • AUDUSD wonders ahead of Austr...

    ...low chart support in the 109.40s.  It’s all about the earnings season right now for US stocks, and yesterday’s news from Nvidia and Caterpillar about a slowdown in China is what ruined the mood initially.  The S&Ps have since inch...

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

  • (News by tags)
    USD stabilizes ahead of very busy week ahead

    • Brexit Plan B + Cooper amendment being voted on tomorrow in the UK. • FOMC expected to keep rates unchanged on Wednesday. Talk of the need to slow balance sheet normalization now making the rounds. • US/China resume trade talks in Washington on Wed/Th...

    ... GBPUSD: Sterling is pulling back this morning, and while this may seem a bit counterintuitive given the weekend’s news about Theresa May privately ruling out a “no-deal” Brexit, we think this simply validates the recent market ral...

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

  • (News by tags)
    Broader USD reverses lower on negative chart technicals + uptick in risk sentiment

    • USDCAD fails to break 1.3360-70s, while EURUSD holds 1.1280-90s. AUDUSD quickly cancels out bearish outside day. • EUR traders also shaking off dovish ECB, downgrade to German 2019 GDP growth forecast, and weaker than expected German IFO survey. • S&P...

    ... Mario Draghi’s press conference had plenty of dovish rhetoric in it, it was really the surprise German GDP headline out of the newspaper Handelsblatt that knocked the market lower afterwards.  The report said Germany was to drop its 2019 growth forecast t...

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

  • (News by tags)
    ECB leaves rates and forward guidance unchanged as expected. Press conference now underway.

    • EURUSD slumped overnight amid weak Markit PMI data out of Europe. • Sterling backing up with EUR. Theresa May continues to fight Brexit delay attempts. • USDCAD retesting key chart resistance on broad USD strength + hangover from weak Retail Sales. •...

    ... morning after the January Markit PMIs out of Germany, France and the Eurozone largely disappointed to the downside.  This news, and the fact that we’ve now completely reversed yesterday’s GBP driven bounce, is not helping market sentiment...

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

  • (News by tags)
    USDCAD traders brace for Canadian Retail Sales data

    • November Canadian Retail Sales expected -0.6% MoM. • Sterling defying the shorts, as proposed “Cooper amendment” further diminishes risk of “no-deal” Brexit. • EURUSD and AUDUSD downward momentum stalled. • Bank of Japan keeps dovish monetary policy o...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Mild risk-off tone to equities pressures oil and lifts USDCAD in NY trade

    • USDCAD chart resistance in the 1.3310-20s becoming pivotal. • EURUSD teeters on chart support in the 1.1350-60s. German ZEW misses estimates. • GBPUSD trading mixed, toying with both sides of 1.2900 level after upbeat UK wage growth. • AUDUSD slips f...

    ...ne support in the 1.1350-60s.  While we view this as somewhat of a positive development (market can’t go down on bad news), we remain leery of the market’s willingness to add to long positions ahead of the ECB meeting on Thursday.  EU...

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

  • (News by tags)
    Theresa May expected to announce Brexit Plan B at 10:30amET. US markets closed for MLK Day.

    • USDCAD drifts higher after holding 1.3250s into Friday’s close. Futures traders continue to liquidate positions. • AUDUSD gives up chart support in the 0.7160-70s after reversal lower on US/China trade headlines. • EURUSD threatening chart support in ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Canadian December CPI reported +2.0% YoY and -0.1% MoM.

    • USDCAD now challenging downside support following upbeat inflation figures. • Broader USD trading modestly higher as mild “risk-on” sentiment remains post WSJ article. • Wall Street Journal moved markets yesterday when it reported that the US is consid...

    ...w doesn’t seem realistic, but one could also make the argument that the short fund position needs to be fed more negative news and it’s simply not coming, so they’re covering positions just in case.  Late yesterday we posited that th...

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

  • (News by tags)
    Theresa May survives no-confidence motion. Brexit "Plan B" expected for Monday.

    • OPEC releases monthly report. Downgrades 2019 demand forecast for oil from OPEC producers. • USDCAD testing chart resistance levels in the low 1.33s. Canadian CPI out tomorrow. • EURUSD downward momentum stalls after downside fail. • USDJPY reaches ...

    ...sp; Other than that, there’s not much to talk about this morning from a US or Canadian macro perspective.  The light news week continues; the range trade continues, and hopefully the Canadian CPI report for December can shake things up tomorrow....

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

  • (News by tags)
    Sterling rebounds after Theresa May loses meaningful Brexit vote in UK Parliament

    • Odds of a “no-deal” scenario appear to have diminished now however. Article 50 extension seems more likely (ie. Brexit delayed). • No-confidence motion from Corbyn up next at 2pmET. Brexit “Plan B” expected from Theresa May by Monday. • EUR and AUD ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Brexit D-day looms for sterling traders

    • UK Parliament vote expected sometime between 2-4pmET. • German 2018 GDP growth slowest in 5 years. Fears of recession growing. • USDCAD holds familiar levels as broad CAD demand cancels out broad USD buying. Oil steady. • AUDUSD backs off chart resi...

    ... are technically back in charge near term, but we think buyers will attempt a bounce today. GBPUSD: Sterling news flow is stealing the spotlight this morning as traders gear up for a volatile afternoon of price action, which is expected ...

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

  • (News by tags)
    Dismal Chinese trade data sours risk sentiment to start week

    • Chinese imports fall 7.6% YoY in December. • S&Ps, oil and copper offered, while JPY and USD bid. • Sterling moderately bid ahead of key Brexit vote in Parliament tomorrow. • This week’s light economic calendar features US PPI (tomorrow) and Canadian ...

    ...off today’s China headlines. USDJPY: It’s been a relatively quiet overnight session for Japanese news flow as Japan is closed today for the Coming-of-Age Day holiday, and so USDJPY has followed the S&P futures lower in re...

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

  • (News by tags)
    Broader USD sees pressure ahead of US CPI report

    • Traders expecting +2.2% YoY and -0.1% MoM on the headline. • BREAKING: PBOC expresses concern on recent Yuan strength, according to MNI. Caps AUDUSD into NY trade today. • EURUSD bid, but getting held back by option expiries at 1.1500. • GBPUSD shoot...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Dovish Fed speak sparks broad USD selling yesterday. More Fed officials speaking today, including Powell at noonET

    • Bank of Canada disappoints the doves. Says rates will still need to rise “over time” despite softer growth and inflation outlook. • Slew of dovish Fed speak, especially from Bostic propels EURUSD to new swing highs. Mild risk-off sentiment post US/Chi...

    ...ntry’s differences, but China said virtually nothing in the way of details on the key issues at stake.  Combine this news with weak Chinese wholesale inflation data reported last night (6th consecutive month of declines) and another tense meetin...

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

  • (News by tags)
    Bank of Canada rate decision looms large. Long fund positions praying for bounce after 6-day rout in USDCAD.

    • BOC announcement at 10amET, followed by press conference at 10:15amET. • EIA oil inventories and BOE’s Carney at 10:30amET. • FOMC Minutes at 2pmET. • Fed speak on deck throughout the morning from Bostic, Evans, and Rosengren. • Canadian Housing Star...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Traders eagerly awaiting comments from latest round of US/China trade talks + Trump speech at 9pmET

    • Australian Trade and German Industrial Production figures miss expectations. • UK Parliament resumes debate on Brexit today, with rumors circulating about the need to extend Article 50. • Fifth day of strength in oil prices keeping USDCAD under pressur...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USD inches lower in quiet start to week. Dovish comments from the Fed's Powell on Friday still on trader's minds.

    • Powell “we will be prepared to adjust policy quickly to…keep the expansion on track.” • USD reverses uptick from stellar US jobs report. Fed funds futures continue to price out 2019 rate hikes. • US Non-Manufacturing report for December on deck at 10a...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    USDCAD breaks support ahead of US and Canadian employment reports

    • Markets expecting +177k jobs in the US and just +5k from Canada in December. • Reversals higher in AUDUSD and GBPUSD continue following positive NY closes. • EURUSD at resistance zone 1.1410-30. • USDJPY traders still shell shocked after yesterday’s v...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    AUDJPY flash crashes in overnight trade

    • AUDJPY plunges 5% in minutes, leading AUDUSD and USDJPY to crash as well. • Apple revenue warning, poor liquidity due to ongoing Japanese holidays, and algos being blamed. BOJ yet to comment. • GBPUSD falls 200pts as well but then recovers. Traders e...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Weak Canadian Retail Sales data sees USDCAD trade to new highs on the year

    • USDCAD now pulling off the 1.3564 high print with traders now watching 1.3530s intra-day pivot/inflection point. • Crude oil prices remain in downtrend. Down another 1% on the session. • EURUSD weighed down by huge option expiries, while Sterling goes...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Fed hikes interest rates by 25bp, but gives less dovish than expected guidance

    • Two more rate hikes still expected for 2019. Risks still “broadly balanced”. • US stocks, yields and USDJPY fall. • EURUSD falls initially, but rebounds sharply and this helps GBP, CAD and AUD. Riksbank surprises with first hike in 7 years. • Anothe...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    Markets bracing for one of the more important Fed meetings in recent times

    • EURUSD edging higher, supported by Italian bond rally. • GBPUSD struggling, weighed down by chart technicals, EURGBP rally, and a new 20-month low for UK CPI. • USDCAD dialing back yesterday’s oil driven gains, but soft Canadian CPI figures for Novembe...

    ...t the dips overnight, they continue to struggle at this key resistance level.  The Fed decision at 2pmET will dominate the news flow today, but then we’ll get the November employment report from Australia tonight at 7:30pmET.  Traders are e...

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

  • (News by tags)
    Traders re-position for potentially dovish Fed tomorrow

    • USD broadly offered as EURUSD, GBPUSD, and AUDUSD knock on chart resistance levels. • USDCAD still bid however as supply fears knock oil prices down again. • US Housing Starts beat expectations while Cdn Manufacturing Sales miss. • Trump takes another...

    ...r rally.  Call it repositioning or short covering ahead of a dovish Fed, but this is what’s making the rounds now on newswires.  Germany’s IFO survey for December missed expectations today, but traders shrugged it off.  We think ...

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

  • (News by tags)
    FX markets quiet ahead of FOMC meeting on Wednesday

    • EUR and GBP benefiting from decent Friday closes + dovish talk ahead of expected 25bp Fed hike. • AUD and CAD lagging; the former due to weak equities and the latter due to softer oil prices. • Bank of England and Bank of Japan meetings also on deck th...

    ...nto the Fed meeting this week, and while we agree the Brexit saga is not over, we’re starting to wonder how much more bad news can this market price in.  We think Friday’s close was constructive for price and we’d be on guard for an ...

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

  • (News by tags)
    EU says no to May on renegotiating deal

    • GBPUSD falls back 1% as Theresa May struggles in Brussels today. UK/EU joint statement cancelled. • Weak Chinese Retail Sales & Industrial Production data slams AUDUSD lower. • Dismal European PMI surveys hurt EURUSD. French PMIs drop below 50, indic...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    All eyes on Mario Draghi press conference

    • ECB ends bond buying program and leaves forward interest rate guidance unchanged, as expected. • Traders expecting more dovish tones from Draghi in press conference. • Theresa May wins no-confidence motion against her. Now travels back to Brussels in ...

    ...close above Fibo chart support in the 1.2620s however, which helped the technicals going into overnight trade.  The Brexit news flow today has been focused on Theresa May’s return to Brussels yet again for the EU summit and some hopes of her win...

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

  • (News by tags)
    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 succum...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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, b...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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 fo...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

  • (News by tags)
    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. Pre...

    ...llowed USDCAD to retest the 1.3400 level after pulling back in late NY trade.  OPEC headlines then started to dominate the news flow as European traders walked in, and there’s talk now from the Saudis now that a 1mln barrel per day cut “wo...

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

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    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 vot...

    ...n or negativity surrounding the media’s interpretation of this weekend’s “truce” with the US.  The news flow out of the US should be very light today, as the US stock and bond markets will be closed in observance of the nationa...

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

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    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 ab...

    ... negative December seasonals we talked about, was a bit of a negative omen heading into the weekend, and then we got the upbeat news about an alleged 90-day truce between the US and China on tariffs at the G20.  Oil market headlines have been bullish ...

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

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    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. • ...

    ...s unexpectedly dovish, considering Powell said rates were “a long way” from neutral only last month.  The news is also sparking speculation that the Fed will now hold off on further interest rate hikes after December.  The USD co...

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

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    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 qu...

    ...o stop Parliament lawmakers from trying to re-write her draft Brexit agreement.  One could argue this is somewhat positive news, as it reduces the odds of a huge clash with Parliament going into the Dec 11th vote.  UK’s Finance minister Ham...

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

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    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 now some broad USD selling flows are emerging coming into NY trade.  There hasn’t been much in the way of news out of Italy today, other than talk about an Italian budget debate in Italy’s lower house on Dec 3rd, and so the BTP/...

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

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    Hinted compromise from the Italians on budget deficit helps boots risk appetite to start week

    • BTP/Bunds trade back below +300 mark, helping EURUSD and equities broadly. • EU endorses the UK’s draft Brexit plan during Sunday summit, but market brushing off excitement due to looming UK Parliament vote. • Mario Draghi speaking now. BoE’s Carney t...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Traders await Canadian Retail Sales and CPI amid risk off tone to global markets

    • China shares slump after Trump comments on Huawei. • Oil resumes plunge on oversupply fears. • German and Eurozone PMIs disappoint. • Gibraltar now complicates Sunday’s Brexit summit. • FX liquidity still thin from US Thanksgiving holiday. US stock ...

    ... help from a broad risk-off tone to markets as some US traders return for a half day session on Wall Street.  In overnight news, we had Trump call on allies to boycott China’s telecom giant Huawei.  We had weaker than expected German and Eu...

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

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    Equities, Italian bonds and crude oil bounce

    • MNI headline about Fed pausing rate hikes + some conciliatory tones out of Italy helping risk sentiment. • Broader USD gives back some of yesterday’s gains. • US Durable Goods for October miss expectations. • Italy’s Tria & Conte taking questions at 9...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Risk-off sentiment sweeping across markets into NY open

    • USD and JPY broadly bid as the Nasdaq breaks below October lows. • RBA’s Lowe reiterates dovish rate outlook for Australia. • BTP/Bunds blow out to +335bp at one point today, causing EURUSD to fail its breakout attempt. • USDCAD continues to wander, b...

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    Negative headlines out of APEC summit dial back Fed Clarida's dovish tones from Friday

    • AUD, CAD and the Yuan lead losses this morning. • EURUSD holding gains after Friday’s technical break higher. • GBPUSD volatile and headline driven as Theresa May no confidence vote looms. • Funds add to USDJPY longs as market starts breaking support....

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Lighthizer "tariffs on hold" headlines get dialed back

    • S&Ps, USDJPY and commodity currencies give back yesterday’s gains. • USDCNH regains 6.94s. • GBPUSD bounces, but no-confidence vote on Theresa May still looms. • Crude oil drifting higher as 8th consecutive week of inventory builds was largely expecte...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    UK's Brexit minister Raab resigns in shock turn of events in Brexit saga

    • GBPUSD plunges 200pts as Theresa May looks increasingly unlikely to win over Parliament. • Tory MP Rees-Mogg has formally submitted no-confidence motion against Theresa May. • EURUSD and AUDUSD breakouts fail as GBP selling sparks broad USD buying. • ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    All eyes on Brexit headlines and Theresa May's cabinet meeting at 9amET.

    • US October CPI also on deck at 8:30amET. • Crude oil bounces on talk of OPEC 1.4M bpd oil production cut in 2019, pressures USDCAD a bit. • Germany contracts in Q3, pressures EURUSD but market recovering. • Option traders pricing in volatility and wid...

    ...d +0.2% MoM on core CPI.  We would not be surprised to see USDCAD pull back to 1.3200 today, especially if we get some positive news out of the UK on Brexit. EURUSD: Euro/dollar is leaking lower this morning after trend-line resistance at 1.1...

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

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    Brexit agreement in the UK "closer than it was yesterday". GBP gains leading broad USD selling this morning.

    • EURUSD following GBPUSD higher, despite weak German ZEW and Italian budget worries. • Reports of Chinese vice-premier Liu He visiting US for trade talks helps risk sentiment and AUD. • Talk of Chinese state owned banks selling USDCNY (buying Yuan) • C...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    Surprisingly hawkish, copy/paste, Fed statement boots USD into week's end

    • CAD also get hit by negative USMCA and Keystone XL headlines + 10th down day in a row for oil prices. • EURUSD slips to next support level ahead of heavy day of option expiries. No progress yet on revised Italian budget. • UK reports mixed economic da...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD chops around ahead of today's expected hold on monetary policy from the Fed

    • Canadian Housing Starts mildly beat expectations. • AUD leading, driven by Chinese import data and strong NZDUSD. • EUR lagging on technical weakness & European Commission concerns about growth/Italy. • GBPUSD slips as traders attempt to a bounce in E...

    ...straight week of gains in stockpiles, and a 400k bpd increase in US oil production to a new record high of 11.6M bpd.  The news saw USDCAD immediately regain the 1.3110 support level, which the market managed to hold for the rest of the NY session and...

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

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    Democrats take control of the House. Risk-on tone sweeps across markets.

    • OPEC+ countries now mulling over production cuts in 2019. • EIA oil inventory data out at 10:30amET. Trump to speak at 11:30amET. • AUD leads G7 FX gains, with help from blowout employment data from New Zealand. • RBNZ announces New Zealand interest ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD trading mixed ahead of US mid-term elections

    • USDCAD range trade inches higher, led by weak oil prices. • September Canadian Building Permits meet expectations, but with negative revision to August. • EURUSD looking poised for some upside with trend-line break. • UK’s Brexit secretary Raab signal...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Brexit headlines whip sterling around in otherwise quiet start to the week

    • Big week ahead features US Mid-term elections and the FOMC meeting on Thursday. • EU to propose disciplining Italy over its budget. • Bank of Canada’s Stephen Poloz speaking now before UK Chamber of Commerce. • RBA meets tonight with no changes to mon...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Positive US/China trade sentiment spurs risk-on tone ahead of US & Canadian employment reports

    • USD broadly extending losses from yesterday, but position squaring evident ahead of jobs numbers. • US set to grant sanction waivers for Iran's major oil importers. • US & Canada trade balance data also out at 8:30amET, followed by US Factory Orders at...

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    Tentative Brexit financial services deal sees GBPUSD surge

    • GBP move leads to broad USD selling. Markets so far ignoring doubts from UK officials and EU’s Barnier. • Bank of England keeps monetary policy on hold. Governor Carney now speaking. • US ISM on deck at 10amET. • AUDUSD shorts scramble amid GBPUSD m...

    ...of the US October ISM figures at 10amET, with traders expecting +59 on the headline.  December crude oil continues to make news swing lows ahead of the Iran sanctions that go into effect next week as commodity traders continue to witness signs that th...

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

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    Canadian GDP and Raw Material Prices beat expectations

    • US ADP employment report beats estimates, coming in at +227k • Chicago PMI, EIA inventories up next. BoC’s Poloz speaks again later. • Australian Q3 CPI slightly disappoints, keeping AUDUSD on the backfoot. • Bank of Japan keeps monetary policy uncha...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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    Weak oil prices leading USDCAD higher this morning. BoC’s Poloz to speak at 3:30pmET.

    • Italy reports no GDP growth for Q3. News pressures Italian bonds and EUR. • GBPUSD fall continues as EURGBP cross breaks into 89s. • AUDUSD traders celebrate some positives. • USDJPY traders ignore yesterday’s rout in the Nasdaq, and move market 0.5%...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    Risk rebounds further to start the week, with Italian bonds leading the charge

    • Italy avoids debt downgrade from S&P. BTP/Bunds contract to +289bp. • EURUSD struggles to benefit as Angela Merkel announces she won’t seek re-election as Germany's CDU leader. • GBPUSD follows EUR as traders await UK budget announcement. • Busy week...

    ... the market has since recovered when the German leader said she’d serve out her term as Chancellor until 2021.  This news follows poor weekend election results in the German state of Hesse, where both Merkel’s CDU party and coalition party...

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

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    US reports +3.5% GDP growth for Q3, beating estimates, but price indexes miss.

    • US stock futures recovering on strong US GDP headline print after slew of weak corporate earnings reports overnight. • USD longs trimming a bit here after weak price measures in GDP report. • USDCAD traders eyeing 1.3140s as pivot for today. • AUDUSD ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    ECB leaves rates unchanged. Mario Draghi's press conference now underway.

    • USDCAD decline from hawkish Bank of Canada rate hike gets cancelled out by late day plunge in US stocks/crude oil. • Theresa May survives leadership challenge rumors, but GBP traders are still not optimistic. • Aussie quickly recovers from yesterday’s ...

    ...ing as traders are content to follow EURUSD.  Theresa May appears to have survived the no-confidence vote rumors, but this news is doing little to restore GBP sentiment as Brexit negotiations with the EU are still nowhere near where they need be at th...

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

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    Bank of Canada set to raise interest rates by 25bp today

    • BoC announcement at 10amET, followed by press conference at 11:15amET. • Weekly EIA oil inventory data out at 10:30amET. • Poor Eurozone PMIs add to woes for EURUSD ahead of ECB meeting tomorrow. • Sterling follows EURUSD lower after UK refutes yester...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    EU may offer British PM a UK-wide customs union, according to RTE News

    • Positive Brexit headline gives life-line to GBPUSD. • Sterling bounce + relative calm in Italian bonds helps EURUSD bounce as well. • Global equities under pressure with weak European corporate earnings adding to Shanghai pullback/Nikkei plunge. • Cru...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Rumors of Theresa May no-confidence vote rattles GBP

    • GBPUSD down 1% and falling. • Moody’s downgrades Italy to one notch above junk, outlook stable. • Ball now in EU’s court as Italy acknowledges EU concerns, but refuses to make changes. • Traders expecting 25bp hike from the Bank of Canada on Wednesday...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    CAD traders awaiting Canadian Retail Sales & CPI data

    • Italian bonds bounce off lows, narrowing BTP/Bund spread off highs, but Italian/EU relations still tense. • “Risk” trades recovering into NY open with AUD and CAD leading. • EU summit comes and goes without progress on Brexit negotiations. • AUDUSD sh...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Bearish oil inventory data has USDCAD knocking on resistance levels once again

    • US Philly Fed beats, +22.2 vs +20 expected. • Canadian Retail Sales (Aug) and Canadian CPI (Sep) on deck for tomorrow. • EURUSD falls apart with EU Italian budget rejection, Brexit, higher USDCNY fix weighing. • GBPUSD holding 1.31s, but EU summit not...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Brexit mood sours as two-day EU summit begins

    • GBP losses lead broad based USD strength into NY session. • US Housing Starts, Cdn Manufacturing Shipments, EIA oil inventories, FOMC Minutes on deck today. • Some EURUSD shorts likely stopped out in yesterday's head fake above 1.1600. GBP, gold, CNH ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    It's crunch time for Brexit negotiations

    • GBP leads broad USD weakness ahead of EU summit tomorrow. • UK wages beat expectations in September employment report. • German ZEW disappoints. • USDCAD continues lower after upbeat Business Outlook Survey ups rate hike odds for next week. • BTP/Bun...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Gold leads EUR & AUD higher while GBP fills Sunday opening chart gap

    • USD not showing safe haven status again today. • Brexit negotiations at yet another impasse. Theresa May to speak later this morning. EU Summit on deck Oct 17-18. • US Retail Sales disappoint, coming in +0.1% MoM vs +0.5% expected. • Bank of Canada’...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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  • (News by tags)
    Announced Trump/Xi G20 meeting + strong Chinese export data helps global equities bounce

    • Crude regains $71 support level, keeping USDCAD under pressure ahead of large 1.3000 expiries. • PBOC fixes USDCNY higher again, helping to cap EURUSD. 1.1550 option expiries likely weighing as well. • GBP traders eyeing EU summit next week. • AUDUSD...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    US stocks plunge, but risk-off sentiment does not help USD broadly

    • “I think the Fed has gone crazy”, says Trump. • Is the market thinking the Fed may have to ease up on rate hikes? • USD trading broadly weaker into US CPI figures at 8:30amET. • Weekly EIA oil inventories out at 11amET today.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USD trading mixed into NY session

    • September US PPI meets expectations on the MoM figure, misses slightly YoY. • August Canadian Building Permits miss consensus. Prior month revised lower. • Italian politicians keep spooking Italian bonds while UK Brexit sentiment improves ahead of EU ...

    ...ng it stays below 113.50-60.  Japanese Machine Orders for August blew away expectations (+6.8% MoM vs -3.9% expected), but this news had no effect on the market. Tune in @EBCTradeDesk for more real-time market coverage.   Market Analysis C...

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  • (News by tags)
    Italian bond sell off, China RRR cut, IMF growth downgrade sours risk appetite

    • Risk off flows see broad demand for USD, but some calm returning ahead of NY open. • Canadian Housing Starts miss expectations for September. • Fed’s Evans speaking at 10am. BoE’s Broadbent at 10:30amET. BoC’s Wilkins at 2pmET. • This week’s calenda...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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    It's jobs Friday again!

    • Traders eagerly awaiting US & Canadian employment data for August, out at 8:30amET. • USDCAD fills Sunday opening gap, benefits from risk aversion/crude oil selling yesterday. • GBPUSD rallies again on more positive Brexit headlines. Deal on Irish bor...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Beats on US ADP/Services ISM sees US yields explode higher

    • Hawkish comments from Powell add to broad USD strength in late NY trade yesterday. • Global yield rise leading to “risk off” fears for equities today, pulling USDJPY off highs. • Positive Brexit headlines on Irish border helps GBPUSD bounce. EURUSD fo...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD trading broadly higher but within yesterday's ranges

    • Italy vows to reduce deficit in 2020 & 2021, but EUR and Italian assets dial back initial excitement. • Theresa May defends her Brexit plan, talks tough on EU on final day of Tory conference. • Australian Building Permits (Aug) miss expectations, AUD l...

    ...ate hike in December. EURUSD: Euro/dollar saw a swift move higher in Asian trade overnight after the Italian newspaper, Corriere della Sera, reported that Italy would seek to lower its budget deficit from 2.4% of GDP in 2019 to 2.2% in 2...

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  • (News by tags)
    Italian budget fears take center stage again

    • Italian assets and EURUSD hit, but trying to recover now. • Hang Sang gets hammered. • RBA keeps Australian rates on hold. • Crude oil extends rally on declining Iranian oil exports. • UK Tory conference continues today with Boris Johnson speaking.

    ... yesterday on reports that Iranians exports are dropping further ahead of the sanctions that take effect next month.  The USMCA news now sees the OIS market fully pricing a 25bp rate hike from the Bank of Canada when it meets next on October 24th, and anot...

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

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    US & Canada reach new NAFTA deal

    • USDCAD plunges, extending last week’s reversal lower. • GBPUSD pops as U.K. SAID TO PLAN COMPROMISE ON IRISH BORDER TO GET BREXIT DEAL • USDJPY trades to new highs on broad “risk-on” sentiment. • October 20yr seasonals suggest weakness for CAD, EUR an...

    ...r). EURUSD: It’s been a tepid start to the week for Euro/dollar, as traders continue to digest the Italian budget news from last week.  Italian bonds opened weaker, recovered some, but are trading lower again into the NY open, and it’s been m...

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

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    New Italian budget target (2.4% of GDP) spooks Italian assets

    • Italian stocks off 4+%. BTP/Bund spread blows out to +277bp. • EURUSD now off over 200pts from the post Fed highs. • Mild risk off tones heading into NY trading today. • USDCAD nursing EURCAD driven losses ahead of Canadian GDP at 8:30amET.

    ...day afternoon.  This still falls within EU limits, but higher than what finance minister Tria wanted, and not surprisingly, the news is getting some negative feedback from EU President Tajani and EU affairs minister Moscovici today.  Italian markets don’t ...

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

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    Powell shakes out doves by downplaying removal of "accommodative" language from Fed statement

    • Fed raises interest rates to 2.25% as expected, removes “accommodative" language from statement. • POWELL: DROPPING ACCOMMODATIVE DOESN'T SIGNAL RATE-PATH CHANGE • USD broadly reverses higher, with last minute Italian budget worries leading USD strengt...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    All eyes on the Fed

    • Some USD shorts square positions ahead of much anticipated 25bp rate hike. • Focus will be tone of statement and Powell’s press conference with regard to future guidance. • EURUSD traders also eyeing Italian budget announcement tomorrow + USDCNH rise. ...

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Markets settle into range ahead of the Fed tomorrow

    • Trump speaking at UN at 10:15amET. Iran’s Rouhani speaking at 11amET. • Option expiries abound for EURUSD tomorrow. • USDJPY struggling to make new highs as US 10yr yields hit 3.11%.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Markets brace for another 25bp rate hike from the Fed this Wednesday

    • Draghi sees relatively vigorous pick-up in underlying inflation; EURUSD pops. • GBPUSD recovers from Friday's lows on positive comments from UK's Raab. • Nov crude oil trading 2% higher after OPEC Algiers Summit.

    ...ament.  Tomorrow we’ll get two ECB members speeches (Praet & Coeure).  Thursday features the Italian budget news, a BTP auction, German CPI for September, and two more ECB speeches (Draghi and Praet).  Finally on Friday we’ll...

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    CAD traders await Cdn Retail Sales & CPI data

    • Salzburg summit does not go well for Theresa May. GBP plunging back lower. • Theresa May to make Brexit statement at 8:45amET. • Global equity strength helps USDJPY rally to new 1 month high.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Sterling surge leads broad USD selling into NY open

    • UK Retail Sales beat, shorts scramble above 1.3210s. • EU Summit on Brexit now scheduled for Nov 17-18. • Trump talking oil prices off overnight highs. • US Philly Fed beats, +22.9 vs +17 expected.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD recovering overnight losses into NY trade

    UK CPI & US HOUSING STARTS BEAT EXPECTATIONS EIA OIL INVENTORIES ON DECK AT 10:30AMET MAY IS SAID TO REJECT BARNIER IMPROVED IRISH BREXIT OFFER:TIMES WH ADVISOR HASSETT: U.S. READY TO MOVE AHEAD WITH MEXICO DEAL WITHOUT CANADA BOJ LEAVES POLICY ON HOLD...

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    Markets shrug off formal escalation in US/China trade war

    • Trump announces 10% tariff on $200bln of Chinese imports, effective Sep 24. • Markets fade knee-jerk risk off move. Stocks, yields and CNH now higher. USD and JPY lower. • Bank of Japan meets tonight.

    ...ts was the key driver initially (“risk-off” USD positive headline).  However, markets quickly shrugged off the news and a bid returned to risk assets after USDCNH hit chart resistance in the 6.8920s and reversed lower.  China’s ...

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  • (News by tags)
    USD broadly weaker into NY open with Italian bonds leading

    • Trump ready to announce new China tariffs, but markets shrugging off so far. • Rally in Italian bonds helping EURUSD recover Friday’s losses. • GBPUSD quickly back at chart resistance ahead of Salzburg summit. • USDJPY steady ahead of BOJ tomorrow.

    ...Chinese imports.  One would expect a bit more of a “risk-off” type move as a result but markets are taking the news in stride (Nikkei higher, S&Ps flat, USD an JPY weaker).   Perhaps the fact that Tokyo traders are out on hol...

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  • (News by tags)
    USD trading mixed ahead of US Retail Sales

    • Weak US CPI ignites broad USD selling yesterday. • Trump China tweet dials back gains for CNH, AUD and CAD. • GBPUSD dealing with Brexit headlines this morning.

    ...rsquo;s opposition to May, it’s not a great headline and traders are hitting the sell key.  EURGBP has popped on the news as well, and looks like it might now want to test resistance in the 0.8940-50s. AUDUSD: Like EURUSD, the...

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  • (News by tags)
    Central bank bonanza leaves traders yawning. US CPI surprises to the downside

    • ECB and BOE leave rates unchanged, as expected • Turkey hikes rates to 24%, EMFX rallies • All eyes now on ECB press conference • US CPI disappoints by 0.1% on both the YoY on MoM figures

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Oil rally, positive NAFTA comments from Trump & bullish APIs report boosts CAD

    • US PPI data for August disappoints. • USDCAD traders eyeing weekly EIA inventory data after yesterday’s $2 oil rally. • EURUSD and GBPUSD stalling ahead of central bank meetings tomorrow.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Sterling sales leading USD strength into NY open

    • Wave of GBP selling hits after UK jobs beat expectations • Negative Brexit headlines from Evening Standard push GBP lower still. • CAD traders eyeing resumption of NAFTA talks today.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USD starts the week with a mixed tone

    Rally in Italian assets helping EUR sentiment. This week’s calendar features BoE and ECB meetings on Thursday. EU’s Barnier given mandate to strike Brexit deal with UK. EU'S BARNIER: GETTING BREXIT DEAL IS `REALISTIC' IN 6-8 WEEKS.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    It's jobs Friday!

    • Traders awaiting US and Canada employment reports for August. • More positive Brexit headlines sees GBPUSD test last week’s resistance levels. • BoC Wilkins hawkish comments giving CAD a positive tone.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USD trading softer into NY open

    • US ADP and Canadian Building Permits both miss expectations. • Positive Brexit headlines repair GBPUSD chart. • USDCAD steady after expected BoC rate hold.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    CAD traders eyeing Bank of Canada rate decision

    • Markets expecting hawkish hold. • Option expiries may influence today for EUR, GBP and AUD. • EM FX selling still in focus.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    EM FX losses lead broad USD strength into NY trade

    • South Africa enters recession • RBA holds rates steady • No NAFTA deal yet for Canada

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Barrage of negative trade related headlines leads to "risk-off" tone into month end

    • Trump dials up trade rhetoric with the EU and China. • Canadian officials dialing back optimism for NAFTA trade deal today. • BOJ tweaks JGB buying schedule for September.

    ...ce again to pull out of the WTO, and said the EU is almost as bad as China on trade.  More here: https://www.bloomberg.com/news/articles/2018-08-30/trump-says-he-will-pull-u-s-out-of-wto-if-they-don-t-shape-up.  Global equities, yields, crude oil...

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

  • (News by tags)
    Canadian GDP misses expectations

    • Canadian June GDP flat vs. +0.1% expected. +2.9% YoY for Q2 vs. +3.0% expected. • Continued EM FX pressure leading broad, but mild USD strength. • GBP surges following Barnier headlines

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USD trading broadly higher into NY trade

    • Westpac news, Yuan weakness, negative EURUSD close, and EM FX selling leading USD gains. • Canada ready to make concessions on dairy. • US Q2 GDP revised higher from +4.0% to +4.2% YoY.

    ...out of La Stampa about Italy apparently asking the ECB for a new round of QE to save its bond market. https://www.bloomberg.com/news/articles/2018-08-29/italy-reportedly-reached-out-to-ecb-on-new-bond-purchase-plan.  We also have a large option expiry at 1...

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  • (News by tags)
    US/Mexico trade deal ignites broad risk-on rally

    • Canadian negotiations with Washington now in focus • USD extends losses broadly across major pairs • July US Trade Balance figures out shortly at 8:30am ET

    ...t.  Canada’s Freeland heads to Washington today for talks.  More here from Bloomberg: https://www.bloomberg.com/news/articles/2018-08-28/markets-bet-canada-will-stay-in-nafta-as-trump-raises-pressure. EURUSD: Euro/dollar ...

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

  • (News by tags)
    Risk-on tone to equities countering renewed Turkish lira selling to start week

    • USD going offered into NY trade, with GBPUSD leading. • Turkey back from holidays. • Funds add to USD longs in the week ending Aug 21.

    ...I spike but doesn’t want to be behind the curve on rates).  More here from Bloomberg: https://www.bloomberg.com/news/articles/2018-08-27/poloz-plays-down-inflation-emphasizes-gradual-rate-increases.  We think USDCAD chops here around c...

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  • (News by tags)
    USD sees broad selling ahead of Jerome Powell speech at Jackson Hole

    • Australia appoints Scott Morrison as new PM, AUD bounces. • China re-introduces counter-cyclical factor in USDCNY fix calculation. • Fed’s Bullard speaking with dovish tone ahead of Jerome Powell.

    ... the level checks in around the 1.1560s, and the market is trading back above it on a combination of the Australian and Chinese news mentioned above, and now the Bullard headlines.  The headlines about Trump offering to help Italy buy its bonds (when ...

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

  • (News by tags)
    AUDUSD falls on Turnbull/Huawei headlines

    • Australian PM Turnbull facing leadership challenge. • Australia bans China’s Huawei from 5G network. • AUD selling leads broad USD gains in overnight trade after mixed FOMC Minutes.

    ...y following some very negative political developments for Australian PM Malcolm Turnbull: https://www.theguardian.com/australia-news/2018/aug/23/australia-in-crisis-as-prime-minister-faces-down-coup-attempt-by-bullies.  We also saw China lash out at A...

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  • (News by tags)
    USD trading broadly mixed to weaker following negative political developments for Trump

    “No dispute that Trump committed a crime" says Cohen lawyer. Canadian June Retail Sales miss expectations, but May figures are revised higher. USTR says no deal yet on NAFTA.

    ... stalled here a bit.  The PBOC reiterated overnight that they’re not weaponizing the Yuan: https://www.bloomberg.com/news/videos/2018-08-21/pboc-reiterates-china-won-t-use-yuan-rate-as-trade-war-tool-video.  We think EURUSD cools off a bit ...

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

  • (News by tags)
    Trump complaints about Fed (this time with Reuters) + weak USD technicals spark further USD selling into Asia

    • USDCAD traders eyeing key support in 1.3010s. • Broad USD buying apparent into NY open, with USDJPY leading. • Quiet US session ahead in terms of scheduled data.

    ... stalled here a bit.  The PBOC reiterated overnight that they’re not weaponizing the Yuan: https://www.bloomberg.com/news/videos/2018-08-21/pboc-reiterates-china-won-t-use-yuan-rate-as-trade-war-tool-video.  We think EURUSD cools off a bit ...

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

  • (News by tags)
    USD longs starting to look vulnerable ahead of Jackson Hole

    USDCAD bouncing after Canadian CPI beat Broader USD trading quietly ahead of Jackson Hole USD fund long positioning showing signs of over-extension

    ...e been quick to buy-the-dip back to this level.  USDTRY, USDCNH and the BTP/Bund spread are all trading rangebound and the news flow over the weekend and into this week has been light, so there hasn’t been a whole lot for traders to chew on.&nbs...

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  • (News by tags)
    USDCAD traders eyeing Canadian CPI report out shortly. Broader USD choppy. Turkish Lira has resumed decline.

    USDCAD traders eyeing Canadian CPI report out shortly Broader USD choppy Turkish Lira has resumed decline

    ...broad USD selling in the 4am hour, led by USDTRY and USDCNH, took us higher but then this report (https://www.middleeasteye.net/news/turkey-us-pastor-brunson-coup-erdgoan-663345979) made the rounds and caused a broad “risk-on” tone to emerge.&n...

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  • (News by tags)
    Positive US/China trade headlines & USDCNH decline lead broad recovery in risk sentiment

    China to send delegation to US in late August China making it more expensive to short off-shore Yuan in the forward market Decent Australian employment reports lifts AUD

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    China worries + new highs in USDCNH leading broad USD strength. Markets ignoring stop-gap measures in Turkey. US Retail Sales beats.

    China worries + new highs in USDCNH leading broad USD strength Markets ignoring stop-gap measures in Turkey US Retail Sales beats

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    EM FX bounces with TRY up 4%. CAD outperforming on crude oil strength and CAD cross demand. UK employment report disappoints on wage growth.

    EM FX bounces with TRY up 4% CAD outperforming on crude oil strength and CAD cross demand UK employment report disappoints on wage growth

    ...swap auction and Albayrak’s announced teleconference with global investors lending support.  http://www.hurriyetdailynews.com/turkeys-treasury-and-finance-minister-albayrak-to-address-foreign-investors-135770.  September crude oil is tradin...

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  • (News by tags)
    Markets glued on Turkey, but USD gains focused in EM space. ZAR flash crashes. Unconfirmed Pastor Brunson headlines sees USDTRY gains stall + USD offers.

    Markets glued on Turkey, but USD gains focused in EM space ZAR flash crashes Unconfirmed Pastor Brunson headlines sees USDTRY gains stall + USD offers

    ...art the week.  Some sense of calm seems to be returning now following the Pastor Brunson headlines (despite reports of the news being unconfirmed), and with that USDJPY is trading back above 110.50-60.  This level will now serve as support. ...

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

  • (News by tags)
    Turkish lira crash sees broad "risk-off" demand for USD. Erdogan speaking. US CPI and Canadian job numbers on deck.

    Turkish lira crash sees broad "risk-off" demand for USD. Erdogan speaking. US CPI and Canadian job numbers on deck.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    FX majors range trade while EM FX lags. GBP bounces on positive Brexit headlines. Canadian Housing Starts and US PPI both miss expectations.

    FX majors range trade while EM FX lags GBP bounces on positive Brexit headlines Canadian Housing Starts and US PPI both miss expectations

    ...w the UK to remain in the single market while opting out of free movement of people.  More here: https://www.express.co.uk/news/politics/1001116/brexit-news-latest-live-update-theresa-may-michel-barnier-european-union.  While GBPUSD has formed a ...

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

  • (News by tags)
    USDCAD surges yesterday. Saudi Arabia begins selling Canadian assets. Weekly oil inventory data on deck.

    USDCAD surges yesterday Saudi Arabia begins selling Canadian assets Weekly oil inventory data on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Broad USD strength reverses after PBOC hikes reserve requirement for Yuan forward trading. EURUSD sees volatility amid Italian budget nervousness. US NFP payrolls on deck.

    Broad USD strength reverses after PBOC hikes reserve requirement for Yuan forward trading EURUSD sees volatility amid Italian budget nervousness US NFP payrolls on deck

    ...bsp; September crude oil has a bullish setup this morning following yesterday’s massive outside day pattern and overnight news about Sinopec suspending American crude imports: http://www.euronews.com/2018/08/03/chinas-unipec-suspends-us-oil-imports-a...

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  • (News by tags)
    Markets in "risk-off" mode following Chinese response to US proposed 25% tariff on $200bln of Chinese goods. BoE hikes 25bps, but dovish Carney slams GBP. Traders eyeing US non-farm payrolls tomorrow.

    Markets in "risk-off" mode following Chinese response to US proposed 25% tariff on $200bln of Chinese goods. BoE hikes 25bps, but dovish Carney slams GBP. Traders eyeing US non-farm payrolls tomorrow.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USD trading mixed post escalation of US/China trade tensions. US ADP beats expectations. US ISM and FOMC on deck.

    USD trading mixed post escalation of US/China trade tensions US ADP beats expectations US ISM and FOMC on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    BOJ disappoints hawks with dovish guidance following tweak to yield curve control policy. USDCAD spikes higher on negative NAFTA headlines, then recedes following Cdn GDP beat. EURUSD traders eyeing upside after break of chart resistance.

    BOJ disappoints hawks with dovish guidance following tweak to yield curve control policy USDCAD spikes higher on negative NAFTA headlines, then recedes following Cdn GDP beat EURUSD traders eyeing upside after break of chart resistance

    ...orning following last night’s spike higher on the negative NAFTA article from the National Post: https://nationalpost.com/news/world/canada-rejected-in-bid-to-be-part-of-high-level-nafta-talks-between-mexico-and-u-s-sources.  Chart resistance in...

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  • (News by tags)
    Positive outcome of Trump/Juncker meeting leads to broad "risk-on" USD selling, but the USD recovers somewhat today. ECB keeps monetary policy unchanged. Press conference begins shortly.

    Positive outcome of Trump/Juncker meeting leads to broad "risk-on" USD selling, but the USD recovers somewhat today ECB keeps monetary policy unchanged Press conference begins shortly

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    FX makets continue to range ahead of Trump/Juncker and ECB meetings.

    FX makets continue to range ahead of Trump/Juncker and ECB meetings.

    ...f Brexit negotiations, with the new foreign secretary Dominic Raab deputising her.  More here:  https://www.bbc.co.uk/news/uk-politics-44941792.  Germany’s foreign minister Heiko Maas says the UK needs to get moving (https://www.cnbc.c...

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    USD range trades amid lack of headlines. USDJPY fails to benefit from surge is US yields yesterday. AUD traders eyeing Australian CPI tonight.

    USD range trades amid lack of headlines USDJPY fails to benefit from surge is US yields yesterday AUD traders eyeing Australian CPI tonight

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD quiet to start week. USDJPY plunge halted by BOJ intervention. EUR traders eyeing ECB meeting this week.

    USD quiet to start week USDJPY plunge halted by BOJ intervention EUR traders eyeing ECB meeting this week

    ...oil is bid this morning as Trump and the Iranian leader Rouhani exchange tough words.  More here: https://nationalpost.com/news/world/israel-middle-east/donald-trump-iran-war. EURUSD: Euro/dollar is trading with a range-bound tone t...

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    Trump displeasure with rising rates/USD takes wind out of broad USD rally. CAD traders eyeing Canadian Retail Sales/CPI out momentarily. GBP traders awaiting comments from EU's Barnier.

    Trump displeasure with rising rates/USD takes wind out of broad USD rally CAD traders eyeing Canadian Retail Sales/CPI out momentarily GBP traders awaiting comments from EU's Barnier

    ...ay as Michel Barnier is expected to comment on Theresa May’s plan at some point (more here: https://www.independent.co.uk/news/uk/politics/brexit-live-latest-updates-theresa-may-northern-ireland-barnier-chequers-speech-matt-hancock-a8455821.html).&nb...

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    USDCNY fixing above 6.70 / USDCNH breakout leads USD broadly higher. AUD falls apart despite stellar Australian job gains. UK Retail Sales miss adds to GBPs woes.

    USDCNY fixing above 6.70 / USDCNH breakout leads USD broadly higher AUD falls apart despite stellar Australian job gains UK Retail Sales miss adds to GBPs woes

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Broader USD extends gains following upbeat testimony from the Fed's Powell. Weak UK CPI/political turmoil sees GBPUSD trade to new swing lows. Powell speech before House panel + Fed's Beige Book on deck for today.

    Broader USD extends gains following upbeat testimony from the Fed's Powell Weak UK CPI/political turmoil sees GBPUSD trade to new swing lows Powell speech before House panel + Fed's Beige Book on deck for today

    ...dership being threatened once again.  While the UK PM narrowly avoid defeat on the customs union vote (more here: https://inews.co.uk/news/brexit/theresa-may-survives-ultra-tight-brexit-vote-on-uk-joining-a-customs-union/), the damage was done to the ...

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    USD recovers ahead of key speech from Fed Chairman Powell today. GBP dragged lower again by Brexit headlines. USDJPY back above 112.50.

    USD recovers ahead of key speech from Fed Chairman Powell today GBP dragged lower again by Brexit headlines USDJPY back above 112.50

    ...s (now back above 6.70), and this is not helping.  Nor is GBPUSD, which just took a leg lower following some disappointing news for Theresa May in parliament.  More below.  Technical support today is 1.1705, 1.1690, then 1.1660.  Resist...

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    USD extends Friday's weakness following bullish reversals in EURUSD and GBPUSD. Upward revision to May US Retail Sales helping USD this morning. Traders eyeing Trump/Putin summit underway + Fed's Powell speech tomorrow.

    USD extends Friday's weakness following bullish reversals in EURUSD and GBPUSD Upward revision to May US Retail Sales helping USD this morning Traders eyeing Trump/Putin summit underway + Fed's Powell speech tomorrow

    ...hairman Powell, who delivers a monetary policy report before the US Senate tomorrow.  More here: https://www.bloomberg.com/news/articles/2018-07-16/powell-to-cross-political-minefield-as-trade-war-clouds-outlook.  The net EUR long position at CME...

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    USDCNH gains & GBPUSD weakness leading USD gains overnight, but momentum waning. GBP lags after Trump interview with UK press. Trump/May press conference on deck.

    USDCNH gains & GBPUSD weakness leading USD gains overnight, but momentum waning. GBP lags after Trump interview with UK press. Trump/May press conference on deck.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Swift reversal lower in crude oil rescues USDCAD after hawkish rate hike from BoC. Broad USD rally ensues with USDJPY breakout/USDCNH strength leading. USD backing off this morning after in-line US CPI.

    Swift reversal lower in crude oil rescues USDCAD after hawkish rate hike from BoC. Broad USD rally ensues with USDJPY breakout/USDCNH strength leading. USD backing off this morning after in-line US CPI.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Markets go "risk off" after US tariff list announcement on additional $200bln of Chinese imports. ECB headlines helping EURUSD over the last hr. Bank of Canada rate decision on deck 10amET.

    Markets go "risk off" after US tariff list announcement on additional $200bln of Chinese imports. ECB headlines helping EURUSD over the last hr. Bank of Canada rate decision on deck 10amET.

    ...00bln of Chinese imports.  More here: http://www.businessinsider.com/trump-china-tariff-list-trade-war-escalation-2018-7.  This news broke near the NY close yesterday, and led to a swift “risk-off” move right around the time of day when liquidity is poores...

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    UK cabinet resignations rattle GBP, igniting broad USD strength over last 24hrs. Weak European data today + bounce in USDCNH/sell off in gold spur more USD buying. Quiet calendar today with Bank of Canada tomorrow.

    UK cabinet resignations rattle GBP, igniting broad USD strength over last 24hrs Weak European data today + bounce in USDCNH/sell off in gold spur more USD buying Quiet calendar today with Bank of Canada tomorrow

    ...ket regain the 1.1730s.  Note that Trump is now en-route to Europe for the NATO summit: https://www.nato.int/cps/en/natohq/news_156597.htm GBPUSD: Sterling crashed 150pts off its highs yesterday after the UK’s Foreign Secretar...

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    USD on the backfoot again following weaker the expected US wage growth. Theresa May and GBP survive Friday's key Brexit meeting. EURUSD and AUDUSD breaking out.

    USD on the backfoot again following weaker the expected US wage growth Theresa May and GBP survive Friday's key Brexit meeting EURUSD and AUDUSD breaking out

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Broader USD trading with weak tone ahead of US jobs report. Canada employment report also due. Markets largely shrugging off official start of US tariffs on China.

    Broader USD trading with weak tone ahead of US jobs report Canada employment report also due Markets largely shrugging off official start of US tariffs on China.

    ...mfortable with the 1.3125 support level.  It started with a GBP-driven rally in the broader USD after some negative Brexit news; then a bearish DOE oil inventory report which knocked oil lower; followed by a hawkish FOMC Minutes and finally a report f...

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    Report suggesting easing of US threat on EU car imports ignites rally in European equities and EUR. US ADP report dissapoints. US ISM, DOEs and FOMC Minutes on deck today.

    Report suggesting easing of US threat on EU car imports ignites rally in European equities and EUR US ADP report dissapoints US ISM, DOEs and FOMC Minutes on deck today

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Yuan moves continue to lead broader USD. USDCAD finds bids into chart support, but lacking momentum. US traders out today for Independence Day holiday.

    Yuan moves continue to lead broader USD USDCAD finds bids into chart support, but lacking momentum US traders out today for Independence Day holiday

    ...ee here for a little bit more on what Theresa May will be asking her Cabinet later this week: https://www.coventrytelegraph.net/news/uk-world-news/soft-brexit-theresa-may-14862292.  EURGBP continues its pullback after failing at trend-line resistance ...

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    Rumored Yuan intervention sees USDCNH reverse lower, USD now broadly lower. EUR sentiment aided by Merkel comprimise with CSU. RBA keeps rate unchanged.

    Rumored Yuan intervention sees USDCNH reverse lower, USD now broadly lower EUR sentiment aided by Merkel comprimise with CSU RBA keeps rate unchanged

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD broadly offered on EU migration development. USDCAD finds bids after technical selling yesterday. Cdn GDP and Business Outlook Survey on deck today.

    USD broadly offered on EU migration development USDCAD finds bids after technical selling yesterday Cdn GDP and Business Outlook Survey on deck today

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    BoC's Poloz causes some late day volatilty in USDCAD. GBP trades to new swings lows on Brexit pessimism. EURUSD trying to bounce but yuan weakness and German political uncertainty still cloud outlook.

    BoC's Poloz causes some late day volatilty in USDCAD GBP trades to new swings lows on Brexit pessimism EURUSD trying to bounce but yuan weakness and German political uncertainty still cloud outlook

    ... get nothing accomplished (on the Brexit front) at the EU summit today and tomorrow.  More here: https://www.express.co.uk/news/politics/980747/Brexit-news-Theresa-May-EU-summit-Margot-Parker-UK-fail-achieve-breakthrough.  With GBPUSD now breakin...

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    Chinese yuan weakness (USDCNH rally) continues to lead broad USD strength today. Trump softening stance on Chinese investments. BoC's Poloz speaks later today.

    Chinese yuan weakness (USDCNH rally) continues to lead broad USD strength today Trump softening stance on Chinese investments BoC's Poloz speaks later today

    ...cial risks to the system following the release of the Financial Stability Report, but we would argue none of this is really new news.  More here: https://www.telegraph.co.uk/business/2018/06/27/mark-carney-takes-swipe-eu-bank-england-warns-brexit-risk...

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    Yuan and gold weakness leading broad USD strength this morning. BoE's Haskel out with some dovish comments. Quiet North American calendar today.

    Yuan and gold weakness leading broad USD strength this morning BoE's Haskel out with some dovish comments Quiet North American calendar today

    ...lly above the $69 level will weigh on USDCAD. EURUSD: Euro/dollar is trading softer this morning on not much news, but it’s been hard for traders to ignore the continued rally in USDCNH (depreciation in Chinese yuan).  EURUSD ...

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    Mild risk off tone in markets to start week. Futures traders aggresively bail USD shorts during June/Sep roll. EU summit in focus this week for EUR and GBP traders.

    Mild risk off tone in markets to start week Futures traders aggresively bail USD shorts during June/Sep roll EU summit in focus this week for EUR and GBP traders

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Big day for CAD ahead as traders await Canadian data points and OPEC decision. Bullish outside day patterns scored in EURUSD and GBPUSD. USDJPY sidelined.

    Big day for CAD ahead as traders await Canadian data points and OPEC decision Bullish outside day patterns scored in EURUSD and GBPUSD USDJPY sidelined

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    FX markets quiet ahead of key Brexit "meaningful vote" amendment vote in UK today. Four central bankers speaking shortly in Portugal. BoE meets tomorrow.

    FX markets quiet ahead of key Brexit "meaningful vote" amendment vote in UK today Four central bankers speaking shortly in Portugal BoE meets tomorrow

    ...ar tr:hover { background-color:#ffcd32; } Summary USDCAD: A relatively quieter overnight session for news flow sees the major FX pairings trade in narrow ranges so far today, USDCAD included.  The market inched higher in ear...

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    Markets in "risk off" mode following increased US/China trade war rhetoric. USD and JPY safe haven demand in effect. Dovish Mario Draghi adding to EURs woes.

    Markets in "risk off" mode following increased US/China trade war rhetoric USD and JPY safe haven demand in effect Dovish Mario Draghi adding to EURs woes

    ... rates.  Expect more Brexit headlines this week as the amendment vote battle resumes.  More here: https://www.bbc.com/news/uk-politics-44518702.  Technically speaking, the pound’s downtrend remains intact so long as we stay below the 1...

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    FX markets quiet to start week. Central bankers gathering in Portugal. BoE and OPEC in focus for later this week.

    FX markets quiet to start week Central bankers gathering in Portugal BoE and OPEC in focus for later this week

    ... rates.  Expect more Brexit headlines this week as the amendment vote battle resumes.  More here: https://www.bbc.com/news/uk-politics-44518702.  Technically speaking, the pound’s downtrend remains intact so long as we stay below the 1...

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    EUR & GBP bouncing following plunge on dovish ECB press conference. CAD and AUD lagging as US/China trade war rhetoric heats up. Some option expiries in play at week's end.

    EUR & GBP bouncing following plunge on dovish ECB press conference CAD and AUD lagging as US/China trade war rhetoric heats up Some option expiries in play at week's end

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Markets fade hawkish Fed rate hike. ECB delivers mixed hold on rates, dissapointing hawks. All eyes on Mario Draghi presser at 8:30amET + US Retail Sales.

    Markets fade hawkish Fed rate hike ECB delivers mixed hold on rates, dissapointing hawks All eyes on Mario Draghi presser at 8:30amET + US Retail Sales

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Broader USD steady ahead of FOMC meeting. GBP lags on in-line UK CPI + Brexit amendment vote antics. EUR bid but large option expiry looms below.

    Broader USD steady ahead of FOMC meeting GBP lags on in-line UK CPI + Brexit amendment vote antics EUR bid but large option expiry looms below

    ...ute antics which led to a successful House of Commons vote to save her Brexit agenda.  More here: https://www.thesun.co.uk/news/6514660/brexit-chaos-leavers-remainers-veto-no-deal-theresa-may/.  GBPUSD rejected the 1.3415 level again yesterday in...

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    USD trading broadly mixed following Trump/Kim summit. UK traders eyeing key Brexit related vote. US CPI on deck.

    USD trading broadly mixed following Trump/Kim summit UK traders eyeing key Brexit related vote US CPI on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD gaps higher after post G7 rant from Trump administration. Very busy week ahead for markets. Traders eyeing Fed, EBC, BOJ, Brexit vote, US/NK summit, OPEC, + economic data.

    USDCAD gaps higher after post G7 rant from Trump administration Very busy week ahead for markets Traders eyeing Fed, EBC, BOJ, Brexit vote, US/NK summit, OPEC, + economic data

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Broad bout of risk aversion hits markets ahead of G7 meeting. CAD traders await Cdn jobs numbers. JPY and USD broadly higher.

    Broad bout of risk aversion hits markets ahead of G7 meeting CAD traders await Cdn jobs numbers JPY and USD broadly higher

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD chart mixed after yesterday's snapback. EUR extends gains while GBP and AUD lag. Canadian jobs report in focus for tomorrow.

    USDCAD chart mixed after yesterday's snapback EUR extends gains while GBP and AUD lag Canadian jobs report in focus for tomorrow

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD technical structure reverses quickly. EUR bid on hawkishness leading up to ECB meeting next week. AUD bid following Australian GDP, but not benefitting from copper breakout.

    USDCAD technical structure reverses quickly EUR bid on hawkishness leading up to ECB meeting next week AUD bid following Australian GDP, but not benefitting from copper breakout

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD resumes rally as AUD gives up gains post RBA and oil declines post Trump request to OPEC. UK Services PMI rescues GBP. Trump now considering bilateral talks with Canada and Mexico.

    USDCAD resumes rally as AUD gives up gains post RBA and oil declines post Trump request to OPEC UK Services PMI rescues GBP Trump now considering bilateral talks with Canada and Mexico

    ...1.1700 area where some option expiries lie today.  The new Italian PM Conte was speaking earlier (more here: https://www.usnews.com/news/world/articles/2018-06-05/highlights-italian-prime-minister-giuseppe-contes-inaugural-speech, and while we’v...

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    AUD surge leads broad USD weakness into NY trading. Continued calm in European bond yields helping EUR. Brexit negotiations in focus for GBP traders this week.

    AUD surge leads broad USD weakness into NY trading Continued calm in European bond yields helping EUR Brexit negotiations in focus for GBP traders this week

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD recovers on in-line Cdn GDP, metal tariff news and crude oil weakness. EUR bid as Italy finally set to form government + Spain shakes off Rajoy oust. USD broadly bid ahead of US payroll report.

    USDCAD recovers on in-line Cdn GDP, metal tariff news and crude oil weakness EUR bid as Italy finally set to form government + Spain shakes off Rajoy oust USD broadly bid ahead of US payroll report

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Bank of Canada shocks market with hawkish hold on rates. Talk of euro-skeptic Savona being aside helps Italian bonds and EUR. Canada March GDP on deck.

    Bank of Canada shocks market with hawkish hold on rates Talk of euro-skeptic Savona being aside helps Italian bonds and EUR Canada March GDP on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    EUR recovers as Italy auctions off bonds without a hitch. USDCAD weaker into BoC rate decision as 1.3025 resistance caps. USDJPY higher as US yields and global risk sentiment recovers.

    EUR recovers as Italy auctions off bonds without a hitch USDCAD weaker into BoC rate decision as 1.3025 resistance caps USDJPY higher as US yields and global risk sentiment recovers.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    All eyes on EURUSD as Italian assets implode. USD broadly bid but turning as NY traders return from holiday. USDJPY feels brunt of "risk off", flight to quality bid in bonds.

    All eyes on EURUSD as Italian assets implode USD broadly bid but turning as NY traders return from holiday USDJPY feels brunt of "risk off", flight to quality bid in bonds

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    OPEC driven crude oil selling allows USDCAD to break higher. EURUSD mared by Italian and now Spain political drama. USD broadly higher ahead of US long weekend.

    OPEC driven crude oil selling allows USDCAD to break higher EURUSD mared by Italian and now Spain political drama USD broadly higher ahead of US long weekend

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDJPY off on Trump/NK headlines. GBPUSD bid post UK Retail Sales. USDCAD recovers on crude oil selling.

    USDJPY off on Trump/NK headlines GBPUSD bid post UK Retail Sales USDCAD recovers on crude oil selling

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Turkish Lira flash crash ignites "risk off" across all markets. USD higher across the board. Crude oil inventory data and FOMC Minutes today.

    Turkish Lira flash crash ignites "risk off" across all markets USD higher across the board Crude oil inventory data and FOMC Minutes today

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    USD broadly weaker but lacking momentum. Commodites leading CAD and AUD. EUR traders watching Italian politics.

    USD broadly weaker but lacking momentum Commodites leading CAD and AUD EUR traders watching Italian politics

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD offered ahead of Cdn Retail Sales & CPI at 8:30amET. USDJPY extends higher after weaker than expected Japanese CPI. EURUSD still clinging to support.

    USDCAD offered ahead of Cdn Retail Sales & CPI at 8:30amET USDJPY extends higher after weaker than expected Japanese CPI EURUSD still clinging to support

    ...we risk much lower prices as there’s little in the way of technical support below the market here.  We got some good news on the political front overnight, with Italy finally forming a government (Five Star Movement & Lega agreeing to work t...

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    USD bid into NY trading. GBP volatile after conflicting Brexit headlines. AUD backs off highs after positive Australian employment report.

    USD bid into NY trading GBP volatile after conflicting Brexit headlines AUD backs off highs after positive Australian employment report

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Pressure in EM FX space driving broad USD strength this morning. UK reports mixed employment report. US Retail Sales up next.

    Pressure in EM FX space driving broad USD strength this morning UK reports mixed employment report US Retail Sales up next

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD bid to start week. CAD traders watching NAFTA, EURUSD and oil. Big week ahead of Australian data.

    USD bid to start week CAD traders watching NAFTA, EURUSD and oil Big week ahead of Australian data

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD broadly offered for the third morning in a row. All eyes on Canadian jobs report at 8:30amET. EURUSD bid but contained by Fib level and option expiry.

    USD broadly offered for the third morning in a row All eyes on Canadian jobs report at 8:30amET EURUSD bid but contained by Fib level and option expiry

    ...re the result of technical failure to the downside post BoE yesterday and the fact this market is tired of selling (all the bad news of the last few weeks appears to be priced in).  GBPUSD regained the 1.3480s as Mark Carney spoke, closed above near-t...

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    BoE keeps rates on hold with unchanged 7-2 vote split. USDCAD under pressure again with weak technicals. EURUSD bid ahead of US CPI and large option expiry.

    BoE keeps rates on hold with unchanged 7-2 vote split. USDCAD under pressure again with weak technicals. EURUSD bid ahead of US CPI and large option expiry.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Risk-on mood in markets this morning despite Trump backing out of Iran deal. USD topping out across the board. Big day for UK markets tomorrow.

    Risk-on mood in markets this morning despite Trump backing out of Iran deal USD topping out across the board Big day for UK markets tomorrow

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    Powell comments, Iran deal angst, strong technicals drives broader USD to new swing highs. Trump Iran annoucement at 2pmET. USDCAD breaks higher.

    Powell comments, Iran deal angst, strong technicals drives broader USD to new swing highs. Trump Iran annoucement at 2pmET. USDCAD breaks higher.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD broadly bid to start week. CAD traders eyeing NAFTA talk early this week + jobs numbers at end of week. No hike now expected from BoE when it meets on Thursday.

    USD broadly bid to start week CAD traders eyeing NAFTA talk early this week + jobs numbers at end of week No hike now expected from BoE when it meets on Thursday

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    GBP plunges after weak UK GDP. EUR continues lower after post ECB rout. USDCAD steady ahead of US GDP.

    GBP plunges after weak UK GDP EUR continues lower after post ECB rout USDCAD steady ahead of US GDP

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    No change in monetary policy announced by the ECB. Press conference at 8:30amET. USDCAD soft after negative NY close.

    No change in monetary policy announced by the ECB Press conference at 8:30amET USDCAD soft after negative NY close

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    US yield rise continues to drive broad USD strength. Quiet calendar today. ECB tomorrow and BOJ early Friday.

    US yield rise continues to drive broad USD strength Quiet calendar today ECB tomorrow and BOJ early Friday

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    AUD snaps back after weaker than expected CPI. EUR bid ahead of option expiry. USDJPY breaks out ahead of BOJ on Friday.

    AUD snaps back after weaker than expected CPI EUR bid ahead of option expiry USDJPY breaks out ahead of BOJ on Friday

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD broadly bid as US 10s approach 3%. BOC's Poloz speaking later today. Big week ahead of EUR.

    USD broadly bid as US 10s approach 3% BOC's Poloz speaking later today Big week ahead of EUR

    ...wires over the weekend, and his tone threw more cold water on the prospects of a near term rate hike: https://www.bloomberg.com/news/articles/2018-04-22/poloz-says-canadian-inflation-spike-doesn-t-violate-2-target.  He’ll be speaking again today...

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    Yield spike sparks broad USD rally after NY option cut. Carney adds to GBPs woes with dovish comments. Canadian Retail Sales & CPI on deck.

    Yield spike sparks broad USD rally after NY option cut Carney adds to GBPs woes with dovish comments Canadian Retail Sales & CPI on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD spikes higher after dovish hold from Bank of Canada, but rallying crude caps. GBP bounces in the face of negative UK retail sales. EUR and AUD directionless

    USDCAD spikes higher after dovish hold from Bank of Canada, but rallying crude caps GBP bounces in the face of negative UK retail sales EUR and AUD directionless

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD steady ahead of Bank of Canada rate announcement. USD broadly weaker as EURUSD and AUDUSD reverse higher. GBP lags on weak UK CPI.

    USDCAD steady ahead of Bank of Canada rate announcement USD broadly weaker as EURUSD and AUDUSD reverse higher GBP lags on weak UK CPI

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Sterling backs off post Brexit higher after weaker than expected wage growth. EURUSD trying to hold yesterday's breakout. USDCAD choppy ahead of Bank of Canada tomorrow.

    Sterling backs off post Brexit higher after weaker than expected wage growth EURUSD trying to hold yesterday's breakout USDCAD choppy ahead of Bank of Canada tomorrow

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD steady ahead of US Retail Sales. Bank of Canada meets Wednesday. Net USD long (CAD short) at CME continues to lose money.

    USDCAD steady ahead of US Retail Sales Bank of Canada meets Wednesday Net USD long (CAD short) at CME continues to lose money

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD testing trend-line support again. AUDUSD and crude oil leading. Another quiet session ahead for data.

    USDCAD testing trend-line support again AUDUSD and crude oil leading Another quiet session ahead for data

    ...lar/CAD wandered around for most of the NY session yesterday as AUDUSD, EURUSD and oil prices traded in tight ranges.  The news flow was light and nothing notable was said by the central bank speakers we noted yesterday.  It could be more of the ...

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    FX markets quiet. Trump tweet easing some Syria tension. Some central bank speak ahead today.

    FX markets quiet Trump tweet easing some Syria tension Some central bank speak ahead today

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    USDCAD consolidating losses. Broad USD moves+crude oil leading. Busy calender today with US CPI, DOEs, FOMC Minutes, mounting Syria tension.

    USDCAD consolidating losses Broad USD moves+crude oil leading Busy calender today with US CPI, DOEs, FOMC Minutes, mounting Syria tension

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    EURUSD and crude oil gains leading USDCAD lower. China's Xi adds to "risk-on" mood. Canadian Housing Starts/US PPI at 8:30amET.

    EURUSD and crude oil gains leading USDCAD lower China's Xi adds to "risk-on" mood Canadian Housing Starts/US PPI at 8:30amET

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCNH leading early FX flows. Some CAD data ahead today. Watch EURUSD chart resistance.

    USDCNH leading early FX flows. Some CAD data ahead today. Watch EURUSD chart resistance.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Trump escalation of China trade tension + EURUSD selling keeps USDCAD bid ahead of big day. US & Canadian job reports at 8:30amET. Fed's Powell speaks at 2:30pmET.

    Trump escalation of China trade tension + EURUSD selling keeps USDCAD bid ahead of big day US & Canadian job reports at 8:30amET Fed's Powell speaks at 2:30pmET

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    USDCAD sold as sense of calm returns to markets broadly. AUD selling leads broad USD rebound overnight. Trade figures out shortly and jobs reports out tomorrow.

    USDCAD sold as sense of calm returns to markets broadly AUD selling leads broad USD rebound overnight Trade figures out shortly and jobs reports out tomorrow

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    CAD cross selling destroys USDCAD chart yesterday. China tariff news/commodity rout helping USDCAD recover today. All eyes now on US reaction.

    CAD cross selling destroys USDCAD chart yesterday China tariff news/commodity rout helping USDCAD recover today All eyes now on US reaction

    ... selling overnight.  The next support level in the 1.2770s was tested, and then we got another round of retaliatory tariff news out of China that’s been killing commodities and hurting commodity currencies since the start of European trading.&nb...

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    USDCAD offered on bounce in US stocks + another positive NAFTA headline. Support levels, weak seasonals in focus. Big reports out Friday.

    USDCAD offered on bounce in US stocks + another positive NAFTA headline Support levels, weak seasonals in focus Big reports out Friday

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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  • (News by tags)
    CAD quiet ahead of Canadian GDP. Broader USD mixed to weaker. Long weekend ahead.

    CAD quiet ahead of Canadian GDP Broader USD mixed to weaker Long weekend ahead

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Range-trade continues for USDCAD. Large option expiry today. Canadian GDP out tomorrow.

    Range-trade continues for USDCAD Large option expiry today Canadian GDP out tomorrow

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Month end GBP flows, EURUSD and USDCNH technicals driving overnight USDCAD trade. EURCAD & GBPCAD showing technical weakness. Another quiet session ahead.

    Month end GBP flows, EURUSD and USDCNH technicals driving overnight USDCAD trade EURCAD & GBPCAD showing technical weakness Another quiet session ahead

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    Technicals and cross demand helping USDCAD despite broad USD selling. USDCNH breaks down, helping EURUSD break higher. Quiet, holiday shortened week ahead for data.

    Technicals and cross demand helping USDCAD despite broad USD selling USDCNH breaks down, helping EURUSD break higher Quiet, holiday shortened week ahead for data

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    CAD steady ahead of Cdn CPI and Retail Sales reports. USDCAD technicals better, but mediocre NY close yesterday. Overall FX vol mild despite growing US/China trade tension.

    CAD steady ahead of Cdn CPI and Retail Sales reports USDCAD technicals better, but mediocre NY close yesterday Overall FX vol mild despite growing US/China trade tension

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    More NAFTA positive news, higher crude crushes USDCAD. Less hawkish than expected rate hike from the Fed hurts USD broadly. Quiet session ahead for data.

    More NAFTA positive news, higher crude crushes USDCAD Less hawkish than expected rate hike from the Fed hurts USD broadly Quiet session ahead for data

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    US drops demand for US auto content. USDCAD breaking lower on NAFTA positive sentiment. US FOMC on next 2pmET, presser at 2:30pmET.

    US drops demand for US auto content USDCAD breaking lower on NAFTA positive sentiment US FOMC on next 2pmET, presser at 2:30pmET

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USDCAD range bound with broad USD bid offset by CAD cross sales. Positive NAFTA headlines helped sellers yesterday. FOMC meeting tomorrow.

    USDCAD range bound with broad USD bid offset by CAD cross sales Positive NAFTA headlines helped sellers yesterday FOMC meeting tomorrow

    ...r today’s North American trading session and so traders will likely watch the broader USD theme, the CAD crosses, and the newswires for any more positive NAFTA speak (which helped USDCAD probe lower yesterday).  Given the AUD’s close corre...

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  • (News by tags)
    USDCAD off highs ahead of busy week ahead. USD shorts (CAD longs) continue to lose money. Positive NAFTA headlines just crossing.

    USDCAD off highs ahead of busy week ahead USD shorts (CAD longs) continue to lose money Positive NAFTA headlines just crossing

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USDCAD retains upward bias on broad USD bid. Quiet calendar for today and rest of week. CAD traders continue to add length in futures.

    USDCAD retains upward bias on broad USD bid Quiet calendar for today and rest of week CAD traders continue to add length in futures

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USDCAD resumes rally on dovish comments from Poloz. US Retail Sales and PPI on deck. Chart technicals supportive.

    USDCAD resumes rally on dovish comments from Poloz US Retail Sales and PPI on deck Chart technicals supportive

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USDCAD drifting higher into resistance at 1.2870s. US CPI next up. 500mln+ option expiry at 10am.

    USDCAD drifting higher into resistance at 1.2870s US CPI next up 500mln+ option expiry at 10am

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USD broadly weaker after "goldilocks" US jobs report. USDCAD breaks support. US CPI and Retail Sales in focus this week

    USD broadly weaker after "goldilocks" US jobs report USDCAD breaks support US CPI and Retail Sales in focus this week

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    Canada exempt from steel tariffs. USDCAD soft ahead of US and Canadian job reports. Large option expiry could come into play.

    Canada exempt from steel tariffs USDCAD soft ahead of US and Canadian job reports Large option expiry could come into play

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USDCAD up post BOC, down after White House exemption headlines. Now steady as markets await ECB press conference. US and Cdn job reports tomorrow

    USDCAD up post BOC, down after White House exemption headlines Now steady as markets await ECB press conference US and Cdn job reports tomorrow

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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

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    Gary Cohn out. Bank of Canada on deck. USDCAD steady to higher.

    Gary Cohn out Bank of Canada on deck USDCAD steady to higher

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD offered on broad USD selloff following positive North Korea headlines. Negative trade/NAFTA developments pushed to the side for now. Bank of Canada meets tomorrow.

    USDCAD offered on broad USD selloff following positive North Korea headlines Negative trade/NAFTA developments pushed to the side for now Bank of Canada meets tomorrow

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Canada not exempt from steel tariffs. EUR mixed after busy weekend. Traders eyeing four central bank meetings this week.

    Canada not exempt from steel tariffs EUR mixed after busy weekend Traders eyeing four central bank meetings this week

    ... of buyer failure at chart resistance levels. EURUSD: The Euro is starting the week mixed after a busy weekend of news.  The German SPD vote confirmed Merkel’s coalition government and removed a lot of uncertainty.  This, alon...

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    USDCAD jittery amidst trade headlines. Market back near highs on massive EURCAD buying. Canadian GDP on deck at 8:30am.

    USDCAD jittery amidst trade headlines Market back near highs on massive EURCAD buying Canadian GDP on deck at 8:30am

    ...mid-day.  The knee jerk reaction was for the market to bid up USDCAD again, this time past 1.2870, because it was negative news for Canadian trade on the surface.  However, when negative reactions from Canadian and European officials started hitt...

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    Technical selling continues to hit EURUSD. USDCAD bid on broad USD strength. Busy US calendar today.

    Technical selling continues to hit EURUSD USDCAD bid on broad USD strength Busy US calendar today

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Powell speaks and markets speculate about 4th rate hike from the Fed. USD resumes near-term uptrend. EURUSD testing key support.

    Powell speaks and markets speculate about 4th rate hike from the Fed USD resumes near-term uptrend EURUSD testing key support

    ...n interest rate spreads, dip in German CPI), and while it sounds nice, the first point is arguable and the other points are old news and haven’t been driving the trade of late.  We think yesterday’s move was simply a bit of overexcitement ...

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    USD steady ahead of Fed Powell's testimony before congress. Text of speech to be released 8:30am. Hearing commences 10amET.

    USD steady ahead of Fed Powell's testimony before congress. Text of speech to be released 8:30am. Hearing commences 10amET.

    ...ian trade, which is another not so great sign for EURUSD at this hour.  The day is young though and there’s a lot of news ahead.  All eyes will be on Powell for the most part. GBPUSD: Sterling, while range-bound like most...

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    Big GBP option expiry in play this morning. Busy US calender kicks off tomorrow with Powell testimony. USDCAD recoving Friday's losses

    Big GBP option expiry in play this morning Busy US calender kicks off tomorrow with Powell testimony USDCAD recoving Friday's losses

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD retreats with US yields. GBP volatile on fat finger. Cdn CPI on deck.

    USD retreats with US yields GBP volatile on fat finger Cdn CPI on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Bond traders resume selling after FOMC minutes. USD rallies broadly on higher US yields. Canadian Retail Sales on deck

    Bond traders resume selling after FOMC minutes USD rallies broadly on higher US yields Canadian Retail Sales on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD extends gains after positive NY closes across the major currencies. GBP weighed down by soft UK jobs report. FOMC minutes in focus for 2pmET today

    USD extends gains after positive NY closes across the major currencies GBP weighed down by soft UK jobs report FOMC minutes in focus for 2pmET today

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    Broader USD extends recovery after bullish closing patterns on Friday. GBP bid on positive Brexit headlines. Traders eyeing record US bond issuance on tap for this week.

    Broader USD extends recovery after bullish closing patterns on Friday GBP bid on positive Brexit headlines Traders eyeing record US bond issuance on tap for this week

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDJPY continues to lead broader USD lower, but reversal in the works. UofM survey on deck. Long weekend ahead of North American markets.

    USDJPY continues to lead broader USD lower, but reversal in the works UofM survey on deck Long weekend ahead of North American markets

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD violently reverses lower yesterday, led by gold breakout. Key technical reversals scored. USDJPY decline continues.

    USD violently reverses lower yesterday, led by gold breakout Key technical reversals scored SDJPY decline continues

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDJPY plunge leads USD weakness in Asia. Europe buys dollars. US CPI & Retail Sales on deck.

    USDJPY plunge leads USD weakness in Asia Europe buys dollars US CPI & Retail Sales on deck

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDJPY collapses. GBP bid on UK CPI print. EUR oddly bid, especially against commodity currencies

    USDJPY collapses GBP bid on UK CPI print EUR oddly bid, especially against commodity currencies

    ...gainst EUR and GBP).  The Australian NAB survey for January came in at 19 (stronger than the previous read of 13), but the news wasn’t market moving.  Copper has extended 1.6% higher overnight, but that is not helping AUDUSD either.  W...

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    USD mixed to start week, but broadly firming now. UK CPI on deck tomorrow and US CPI Wed. S&Ps stable.

    USD mixed to start week, but broadly firming now UK CPI on deck tomorrow and US CPI Wed S&Ps stable

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Canadian employment report in focus. GBP getting crushed as Brexit worries now trump hawkish BOE. Option expiries in play for EUR and AUD.

    Canadian employment report in focus GBP getting crushed as Brexit worries now trump hawkish BOE Option expiries in play for EUR and AUD

    ... Summary USDCAD: All eyes are on the Canadian employment report this morning, with traders expecting just 10k news jobs in January after stellar results in November and December.  USDCAD closed NY trading above 1.2585-1.2595 yesterda...

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    Bullish USDCNH reversal leads USD strength overnight. BOE delivers hawkish hold on monetary policy. GBP surges while EUR, AUD, CAD work on reversals higher

    Bullish USDCNH reversal leads USD strength overnight BOE delivers hawkish hold on monetary policy GBP surges while EUR, AUD, CAD work on reversals higher

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    SD safe-haven bid fades as stocks recover. Technical reversals in AUD,EUR and GBP fizzle out however. USD now broadly bid again with USDCNY leading.

    SD safe-haven bid fades as stocks recover Technical reversals in AUD,EUR and GBP fizzle out however USD now broadly bid again with USDCNY leading

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    Equity volatility markets break as stock market collapses. USD enjoying controlled safe-haven bid. US cash open nervously awaited.

    Equity volatility markets break as stock market collapses USD enjoying controlled safe-haven bid US cash open nervously awaited

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Sterling sales leading USD bid to start week. Big night for AUD traders ahead. USDCAD traders eyeing chart resistance.

    Sterling sales leading USD bid to start week. Big night for AUD traders ahead. USDCAD traders eyeing chart resistance.

    ...boldened now as USDJPY is back at 110. The EBC Trading Desk is now on Twitter @EBCTradeDesk.  Stay tuned for real-time news, commentary and analysis throughout the trading day!   Market Analysis Charts USD/CAD Chart AUD/USD Ch...

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    US jobs report in focus. BOJ goes full throttle on yield curve control. Stocks under pressure.

    US jobs report in focus BOJ goes full throttle on yield curve control Stocks under pressure

    ...le overhead resistance in this market.  Trend-line support today checks in at 1.4120-1.4130. USDJPY: The big news overnight out of Japan was a headline from the BOJ during their daily JGB buying operation, where the central bank said it ...

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

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    Month-end USD demand noted yesterday. FOMC gives market slightly hawkish hold on rates. US ISM on deck and US NFPs tomorrow.

    Month-end USD demand noted yesterday FOMC gives market slightly hawkish hold on rates US ISM on deck and US NFPs tomorrow

    ...ve the 1.2430s (trend-line support), keeping the bulls in charge.  There hasn’t been much in the way of EUR specific news today, aside from some decent PMIs from Italy, France, Germany and the broader Eurozone.  Traders will now focus on to...

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    US ADP and Cdn GDP beats. Trump speech a yawner. USD broadly weaker led by USDCNH breakdown. FOMC on deck at 2pm.

    US ADP and Cdn GDP beats Trump speech a yawner USD broadly weaker led by USDCNH breakdown

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    USD retreats as US 10s look over 2.73 and then reverse lower. Trump State of Union in focus. Key close for EURUSD ahead.

    USD retreats as US 10s look over 2.73 and then reverse lower Trump State of Union in focus Key close for EURUSD ahead

    ...itive once again and keeps AUDUSD in good shape for the NY session.  The market has been dying for some Australia-specific news of late, and we finally get some tonight at 7:30pm (Q4 CPI).  Then of course, all eyes will be glued on Trump’s ...

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  • (News by tags)
    USD higher as US yields break higher. Aggregate USD short grows for 4th straight week. Trump State of the Union, FOMC and US payrolls in focus this week.

    USD higher as US yields break higher Aggregate USD short grows for 4th straight week Trump State of the Union, FOMC and US payrolls in focus this week

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    USD on the backfoot again despite Trump stick save yesterday. Trump's Davos speech awaited along with US GDP/Cdn CPI. Mario Draghi's tone deemed not dovish enough.

    USD on the backfoot again despite Trump stick save yesterday Trump's Davos speech awaited along with US GDP/Cdn CPI Mario Draghi's tone deemed not dovish enough

    ...fying what he said) is not helpful in our opinion, as markets are driven more and more nowadays by trading algorithms that scan newswire headlines by the word.  Today, Mnuchin seemed to be responding to Mario Draghi’s criticism of him yesterday,...

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

  • (News by tags)
    Rumored mystery USD buyer overnight. Mnuchin talking down USD again. ECB holds with Draghi press conference underway.

    Rumored mystery USD buyer overnight Mnuchin talking down USD again ECB holds with Draghi press conference underway

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    USD slammed lower on Mnuchin comments. CAD benefits from Trump NAFTA soundbite. GBP surge continues.

    USD slammed lower on Mnuchin comments CAD benefits from Trump NAFTA soundbite GBP surge continues

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Dovish BOJ fails to bring by USDJPY buyers. Sterling touches 1.40. CAD traders on NAFTA watch.

    Dovish BOJ fails to bring by USDJPY buyers Sterling touches 1.40 CAD traders on NAFTA watch

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    US govt shuts down. Key vote at noonET. BOJ on deck tonight for JPY traders. NAFTA talks resume tomorrow.

    US govt shuts down. Key vote at noonET BOJ on deck tonight for JPY traders NAFTA talks resume tomorrow

    ...to rally (now working on its 11th up day in a row, but it’s been all GBP driven here).  Traders will be glued to the newswires this week as the 6th round of NAFTA talks resume tomorrow and will go until Jan 29.  The Canadian economic calend...

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  • (News by tags)
    USD trying to recover amidst USDCNH breakdown and US govt shutdown fears. CAD quiet. BOJ, ECB, NAFTA talks in focus for next week.

    USD trying to recover amidst USDCNH breakdown and US govt shutdown fears BOJ, ECB, NAFTA talks in focus for next week CAD quiet

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    Bank of Canada's dovish 25bp hike later deemed more neutral. Mid-day USD meltdown saved by Apple headlines. Option expiries containing action in early NY trading.

    Bank of Canada's dovish 25bp hike later deemed more neutral Mid-day USD meltdown saved by Apple headlines Option expiries containing action in early NY trading

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    Bank of Canada in focus today. Broader USD trying to bottom on the charts. Australian jobs numbers on deck tonight.

    Bank of Canada in focus today Broader USD trying to bottom on the charts Australian jobs numbers on deck tonight

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Broader USD catches small bid on slight uncertainty entering German political arena, and softer than expected UK core CPI. Key technical levels in focus.

    Broader USD catches small bid on slight uncertainty entering German political arena Softer than expected UK core CPI Key technical levels in focus

    ... the sounds of that either and have smashed the metal 10 cents lower from its highs yesterday (AUDUSD negative).  The good news is that AUDUSD continues to hold the 0.7950 level as we write.  This will be the key level to watch today.  Shoul...

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    Broad USD selloff continues in thin MLK Day conditions. Bank of Canada in focus for CAD traders. USDCNH breaks down.

    Broad USD selloff continues in thin MLK Day conditions Bank of Canada in focus for CAD traders USDCNH breaks down

    ...reakout in EURUSD, the absence of significant chart resistance overhead, the hawkish ECB minutes, the positive German political news and the market adopting a view that the ECB is now going to move sooner rather than later (compared to a well telegraphed F...

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    EUR surging on German coalition breakthrough. GBP following suit. Commodities lagging. US CPI/Retail Sales on deck

    EUR surging on German coalition breakthrough Commodities lagging US CPI/Retail Sales on deck

    ...RUSD: The Euro is all the rage this morning as traders take the market to new swing highs on the positive German political news.  It was reported overnight that Merkel has reached a breakthrough with the SD party; a development that hopefully end...

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  • (News by tags)
    CAD hit by NAFTA headlines. China says Bloomberg report "could be based on wrong information". US yields softer

    CAD hit by NAFTA headlines China comments on Bloomberg report US yields softer

    ...n upward bias going into the headline and then the market put up no fight at the next resistance level (1.2510-1.2520) when the news broke.  We saw selling with the White House denial, but buyers stepped in at 1.2510-1.2520 (now new support).  We...

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  • (News by tags)
    US bond yields break out, but USD broadly lower on speculation of China scaling back UST purchases. JPY surges on stop run, BOJ taper speculation.

    Dollar/CAD is holding up remarkably well Aussie had a poor NY close yesterday GBPUSD recovered smartly after the China headlines

    ...ce Index. USDCAD: Dollar/CAD is holding up remarkably well, despite the broad based USD selloff on the China news that crossed the wires a few hours ago.  Bloomberg’s top story this morning is “China May Halt Purchases o...

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  • (News by tags)
    BOJ taper panic sparks EURJPY sell off, pressuring EUR further, causing broad USD bid again.

    Dollar/CAD held steady yesterday as expected Sterling recovered nicely during the NY session yesterday EURJPY selling weighed on EUR

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    EUR technical selling leads broad USD bid to start week

    Dollar/CAD is starting the week steady Sterling has been quiet to start the week Dollar/yen is taking some heat this morning

    ...CFTC futures positioning data for AUD showed the net short position growing to a new 23 month high as of Jan 2nd, which is good news for AUD longs as these positions continue to experience pain and could spur another round of buying should they liquidate. ...

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

  • (News by tags)
    All eyes on US payrolls and other data in a busy Friday session

    November Australian Trade balances figures released last night Dollar/CAD put in another poor performance yesterday JPY continues to be a victim of the tenacious global rally in stocks

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    US ADP beats. USD still broadly offered on weak technicals. Global stocks surge, hurting JPY

    US ADP beats USD still broadly offered on weak technicals Global stocks surge, hurting JPY

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USDCAD struggling to find support. EUR & GBP off on JPY cross demand. Traders eyeing US ISM and FOMC minutes

    USDCAD struggling to find support EUR & GBP off on JPY cross demand Traders eyeing US ISM and FOMC minutes

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USD falls apart during holidays. Breakdown continues today, led by EUR. Markets still thin, technically driven, awaiting key data on Wed & Fri

    USD falls apart during holidays Breakdown continues today, led by EUR Markets still thin, technically driven, awaiting key data on Wed & Fri

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Broader USD looking shaky going into holidays. Massive option expiries today for AUDUSD & USDJPY. CAD traders awaiting Cdn GDP.

    Broader USD looking shaky going into holidays Massive option expiries today for AUDUSD & USDJPY CAD traders awaiting Cdn GDP

    ...rsquo;s option expiry as traders depart for the holidays, and so there’s a risk here of quick moves next week on not much news.  We would note however that copper prices have run a fair bit already and the AU/US 2yr yield spread has not particip...

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    CAD in focus today with Cdn CPI/Retail Sales on deck. EURUSD techs improve. BOJ keeps monetary policy unchanged.

    CAD in focus today with Cdn CPI/Retail Sales on deck EURUSD techs improve BOJ keeps monetary policy unchanged

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    US yields, USDJPY breakout on House/Senate passage of US tax reform. USDCAD stalls on charts ahead of key Cdn data points. EUR, AUD and GBP holding gains in quiet trade.

    USDJPY breakout on House/Senate passage of US tax reform USDCAD stalls on charts ahead of key Cdn data points EUR, AUD and GBP holding gains in quiet trade

    ...p; The end result was a daily doji-candle, which means “indecision” according to market technicians.  The good news is there hasn’t been much follow-through lower in overnight trade.  EURCAD continues to hold gains very well, no...

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    Markets rangebound ahead of holidays and option expiries. US tax bill update, BOJ, Cdn data expected later this week

    Markets rangebound ahead of holidays and option expiries US tax bill update, BOJ, Cdn data expected later this week Traders rescued sterling yesterday

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD bid. EUR mixed as net longs hit 10yr high. Options in play in AUD and GBP near term.

    USDCAD bid EUR mixed as net longs hit 10yr high Options in play in AUD and GBP near term

    ...specs and at the end of the day overall open interest didn’t go down week over week.  So we’re taking the CFTC news with a grain of salt.  We’re also hearing some talk this morning of a new head & shoulders (H&S) topping...

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    CAD traders caught off guard by Poloz speech. AUD holding gains. EUR quiet. USDJPY longs licking wounds

    CAD traders caught off guard by Poloz speech AUD holding gains USDJPY longs licking wounds

    ...oke to, but it seems traders focused on his more upbeat tone and the “less monetary stimulus” headline that hit the newswires. USDCAD: Dollar/CAD traders largely ignored the beat from US Retail sales and they also weather...

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    USD & US yields lower post Fed hike. AUD jobs smash expectations. BOE & ECB keep monetary policy unchanged. US Retail Sales & Mario Draghi presser on deck

    USD & US yields lower post Fed hike AUD jobs smash expectations. BOE & ECB keep monetary policy unchanged.

    ...oday at the Canadian Club of Toronto at 2:25pmET. USDCAD: It’s been a very busy 24hrs for economic news and central bank announcements, and all of this had the potential to cause significant movement in the broader USD and henc...

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    All eyes on the Fed today. Markets expecting 25bp hike.

    All eyes on the Fed today Markets expecting 25bp hike Aussie continues to hold its M&A related gains yesterday

    ...isting.  A break above this resistance level would usher a move higher to 0.7600-0.7620.  A firm close below 0.7550 renews the downtrend and would put 0.7500-0.7515 back in focus.  It will be a big overnight session for Aussie tonight, with ...

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    AUD bid on M&A. Broader USD range bound to weaker ahead of US FOMC tomorrow.

    AUD bid on M&A Broader USD range bound to weaker ahead of US FOMC tomorrow Australian NAB survey comes in light

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USD quiet to start week. Action packed week ahead with data and central bank meetings/speakers.

    USD quiet to start week Action packed week ahead Euro/dollar is starting the week with a strong bid

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    Deal reached between UK&EU on phase 1 of Brexit divorce. US Payrolls report up next.

    Deal reached between UK&EU on phase 1 of Brexit divorce Aussie now sits at its lowest point since June US Payrolls report up next

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    CAD hit on another dovish BOC rate hold. USD broadly bid. US payrolls in focus for tomorrow.

    CAD hit on another dovish BOC rate hold USD broadly bid US payrolls in focus for tomorrow

    ...s point to ongoing slack in the labour market.”  The key 1.2660 level held going into the announcement, and when the news came out this technical setup allowed the market to quickly trade higher and retrace a good portion of Friday’s move ...

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    Bank of Canada in focus for CAD traders. EUR traders marking time ahead of US payrolls. Brexit uncertaintly hurting GBP.

    Bank of Canada in focus for CAD traders EUR traders marking time ahead of US payrolls Brexit uncertaintly hurting GBP

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    GBP traders sell the Brexit resolution hype. USDCAD struggling to find support. AUD bid.

    GBP traders sell the Brexit resolution hype USDCAD struggling to find support AUD bid

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    USDCAD slammed lower from Cdn jobs/GDP data. USDJPY and US stocks recover from Michael Flynn headlines. GBPUSD traders pumped up about Brexit talks today in Brussels. RBA rate decision on deck for Aussie traders

    USDCAD slammed lower from Cdn jobs/GDP data USDJPY and US stocks recover from Michael Flynn headlines GBPUSD traders pumped up about Brexit talks today

    ...morning and traders threw in the towel on the near-term bull thesis for USDCAD.  Over the weekend, we got some positive US news in the Senate’s passage of their version of tax reform and revelations that ABC’s initial report on Michael Fly...

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    Roaring US stocks save USDJPY yet again. EURUSD recovers. USDCAD bid continues with traders now eyeing the Cdn GDP on Cdn jobs reports.

    Roaring US stocks save USDJPY yet again. EURUSD recovers. USDCAD bid continues with traders now eyeing the Cdn GDP on Cdn jobs reports.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    OPEC agrees on oil supply cut extension to end of 2018. Oil off high of day. USDCAD hovering near highs.

    OPEC agrees on oil supply cut extension to end of 2018 Oil off high of day USDCAD hovering near highs

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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    USD shorts readjust ahead of Yellen today and OPEC tomorrow. GBP volatile but now higher post Brexit divorce settlement headlines. USDCAD on verge of upside breakout.

    USD shorts readjust ahead of Yellen today GBP volatile but now higher post Brexit divorce settlement headlines USDCAD on verge of upside breakout

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    $USD resumes offered tone to start week, with $EUR leading. Busy week ahead for markets. USDCAD range bound to lower near-term.

    USD resumes offered tone to start week, with EUR leading. Busy week ahead for markets. USDCAD range bound to lower near-term.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Dovish FOMC minutes changes the tide for the broader $USD. $AUD, $CAD, $EUR, $GBP, $JPY all now looking technically stronger. Liquidity still at a premium in holiday trade.

    Dovish FOMC minutes changes the tide for the broader $USD. $AUD, $CAD, $EUR, $GBP, $JPY all now looking technically stronger Liquidity still at a premium in holiday trade.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    (Draft) Broader $USD quiet ahead of US Thanksgiving. USDCAD influenced by options/cross sales. USDJPY position liquidation continues

    Broader USD quiet ahead of US Thanksgiving USDCAD influenced by options/cross sales USDJPY position liquidation continues

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Broader $USD quiet ahead of US Thanksgiving. USDCAD influenced by options/cross sales. USDJPY position liquidation continues

    Broader USD quiet ahead of US Thanksgiving USDCAD influenced by options/cross sales USDJPY position liquidation continues

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    EURUSD lower again on German political uncertainty. USDJPY & AUDUSD recover. USDCAD traders watching improving techs, but cross sales now weighing.

    German Political Uncertainty Grows, EUR Traders Now Selling AUD Gets A Lift On Comments From RBA's Lowe, But Techs Still Weigh USDCAD Techs Continue to Improve, However Cross Sales Weighing Today

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    German politics in focus for $EUR traders. $JPY shorts at new high as #USDJPY recedes. Quiet week expected ahead. US Thanksgiving on Thursday.

    Coalition talks break down in Germany, but EUR shrugs off after initial dip JPY shorts (USD longs) at yet another multi-year high Quiet economic calendar ahead this week. US Thanksgiving on Thursday

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    $AUD breaks lower. $EUR & $GBP rangebound. $JPY at key support. $CAD traders await CPI

    USDCAD traders await Canadian CPI More range trading ahead for EURUSD and GBPUSD USDJPY testing key support

    ... supportive. GBPUSD: After more range-bound trade yesterday, sterling broke higher in overnight trade on not much news at all and has since collapsed right back down to where it started, suggesting this was a good old fashioned stop run. ...

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    $EUR traders take profit. Global equities & USDJPY recover. $CAD traders watching cross flows, Cdn CPI in focus tomorrow.

    There’s not much going on with CAD. Sterling continues to chop around. US stocks snapped back again.

    ...than expected print for US Retail sales and the market hitting technical resistance in the 1.1860s around the same time as that news release is all it took.  We then saw continued profit taking on EUR crosses too as the day wore on.  EURGBP traded back dow...

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    $EUR surges higher on technical break. #USDCAD supported by cross buying. Big day for $AUD ahead.

    Australian Wage Price Index comes in weaker than expected UK employment figures were a mixed bag Buyers are stepping up to the plate in USDCAD, encouraged by CAD selling on the crosses.

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    $EUR breaks higher. Central bankers don't say much in Frankfurt. COT shows extending JPY positioning.

    AUDUSD may drift a little higher. Not much going on in CAD over the last 24hrs. An impressive day to say the least for EURUSD.

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    $GBP knocked down again by UK/Brexit drama. Broader $USD quiet. Central bankers in focus tomorrow in Frankfurt.

    It’s been a quiet start to the week for CAD Negative headlines out of the UK A very quiet start to the week for EUR as well

    ... 1.2780s.  EURCAD flows have been supportive since Friday while GBPCAD has fallen apart yet again on negative UK political news over the weekend.  It’s going to be yet another quiet week for Canadian data with the headliner being Canadian C...

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    Markets and $USD quiet. Equities recover. $GBP bid. #USDCAD at critical support.

    Dollar/CAD now sits at critical support in the 1.2660s Euro closed above the key 1.1620-25 resistance level yesterday Sterling was really the only market moving around a bit overnight

    ...UK’s Davis and EU’s Barnier speaking at a press conference).  Hard to tell yet from the remarks coming out whether this is good news or bad news, but it’s certainly not horrible (like the last time Barnier spoke – recall when he mentioned they were at an i...

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    $USD broadly offered, $JPY bid as global equities see selling. Traders watching EUR techs.

    Dollar/CAD is breaking some technical support here in London trade Watch for Brexit headlines today and UK data tomorrow morning Dollar/Yen bulls put up a fight yesterday

    ...  Broad USD selling commenced right after the 6am hour this morning and USDCAD is following suit.  There are no major news headlines behind this move but it’s hard not to notice the 1.1620-25 resistance level being broken in EURUSD over the...

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    USDJPY starting to turn. EURUSD steady. USDCAD weighed down by cross flows again. $CAD $EUR $USD $JPY $GBP

    Dollar/CAD holds true to its new range-bound trading pattern UK is dealing with a bit of political turmoil Dollar/yen traders are giving up a little bit overnight

    ...ee chart).  Option expiries are a factor today as well with $2.5bln rolling off between 113.50-114.00.  US tax reform news yesterday was a bit negative, which doesn’t help.  According to WAPO, some GOP Senators are considering a 1-yr d...

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  • (News by tags)
    $USD broadly bid. $EUR and $AUD traders resume selling. $CAD traders watching Poloz today.

    Reserve Bank of Australia delivers a dovish hold on interest rates yet again overnight Today is all about Poloz Technical selling pressure continues to weigh on the Euro

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    USDJPY reversing off highs. EURUSD sales continue. USDCAD finds support. Quiet week ahead. $CAD $JPY $EUR

    US NFPs disappoint on Friday USDJPY tries to break higher overnight GBP fighting to get back into a range trade

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    USD mixed ahead of data heavy US session. Option traders predict no excitement.

    USD mixed to higher as markets await data-heavy morning ahead. AUD softer on weaker than expected Australian retail sales. EUR and JPY stuck at familiar levels with large option expiries today.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    $USD range-bound ahead of FOMC. $GBP bid ahead of BOE. $CAD sees liquidations.

    AUD still capped by technical resistance GBP holds yesterday’s gains USDJPY the laggard yesterday as US yields back up further

    ... policy. Trump is expected to announce Jerome Powell as the next Fed Chair on Thursday.  Combine this dovish news with headlines yesterday that the Trump tax cuts may be phased-in over a longer period of time, and traders are lacking the...

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    $USD quiet to start week. Busy calendar this week for econ data/central bank speak

    USD starts the week mixed as markets digest recent moves GBP leading with traders expecting a rate hike from BoE EUR holding up well despite weak technicals and negative news

    ...ders expecting a rate hike from the Bank of England on Thursday.  EUR holding up well despite weak technicals and negative news.  Fed in focus with FOMC this week and an expected announcement for the next Fed chair.  USDJPY tracking US yield...

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

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    ECB gives market super dovish taper. $EUR lower. $USD broadly higher. US GDP on deck.

    ECB gives the market an even more dovish taper than was expected EURCAD breakout derailed for the time being GBPUSD back at range lows

    ... USD/CAD - Canadian Dollar Dollar/CAD was content to follow the broader USD higher yesterday in the absence of CAD specific news.  We got the small pull back and then the resumption of the rally, which we were expecting.  Looks like we finall...

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  • (News by tags)
    BOC leaves rates on hold with dovish tone. $CAD sells off again. ECB policy meeting up next.

    Bank of Canada leaves rates unchanged and adopts a more dovish tone into year end JPY traders watching key technical level in EURJPY GBP backing off a bit on some soft retail sales data

    ...ian dollar, and mentioned NAFTA talks as a substantial uncertainty to the bank’s outlook.  All this was super dovish news and so USDCAD surged higher yet again.  From our viewpoint, the move higher was not surprising.  We’ve been...

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

  • (News by tags)
    $AUD weak. $GBP bid. $CAD testing key levels. BOC decision 10amET

    AUD weaker on lower than expected Australian CPI, technicals weigh EUR marking time ahead of the ECB tomorrow CAD follows AUD weaker overnight

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    USDJPY higher. $NZD dragging down $AUD and $CAD. Week's main events still to come

    USD demand noted again overnight with US yields and USDJPY leading NZDUSD sales dragging AUD and CAD lower Traders not responding well to New Zealand PM’s call

    ...ry).  The UK’s Finance minister Hammond is out on the wires now talking about the broader UK economy (so far nothing news worthy but the market is testing the London low, 1.3160s).  This week’s feature will be UK Q3 GDP, out early tom...

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  • (News by tags)
    USDJPY leads $USD higher to start week. Bank of Canada & ECB in focus this week

    USDCAD starts the week steady but with an upward bias EURUSD is getting sold again this morning USDJPY is leading the USD higher today

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} .aut...

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  • (News by tags)
    US Senate passes blueprint for tax reform. $USD bid. $CAD traders focused on CPI/Retail Sales.

    US Senate passes blueprint for 2018 budget Traders bid up USD across the board in Asia Yellen speaking after the close of NY trading today

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    $USD broadly weaker in news heavy overnight session. US stocks, $JPY in focus. $EUR bid.

    AUD higher on stronger than expected Australian employment figures GBP sees some selling on much weaker than expected UK Retail Sales JPY rallies strongly as the Nikkei makes a blow off top

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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  • (News by tags)
    US yields higher again, helps #USDJPY. $EUR sagging. $GBP mixed. #USDCAD weak on technicals.

    Rising US yields are the feature again overnight Sterling all over the place after the UK releases employment figures USDCAD weaker on technicals

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; display:inline-block; margin: 0% 2%;} ....

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    Taylor now a Trump favorite for Fed Chair. $USD bid. $GBP weighed down by Carney.

    EUR weighed down further by weak technicals, cross selling GBP can’t hold bid from in-line UK CPI USDCAD up on rising US yields

    ...is weighing as well as the H&S topping pattern (that we mentioned on Friday) continues to take shape and make the rounds on newswires.  Also hearing some demand for 6mth put options to capture the Italian elections which will be in spring 2018.&nb...

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  • (News by tags)
    $CAD offered to start week as net longs at 5yr high. Cross buying EURCAD and GBPCAD.

    The broader USD starts the week mixed Austria elects non-establishment Kurz over the weekend EUR net long extends to highest since 2011 as longs add

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

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    Barnier knocking around $GBP traders. $EUR looking heavy. US CPI/Retail Sales 8:30am.

    GBP looking better on the charts across the board JPY sees some demand overnight CAD is steady after lackluster trade yesterday

    ...r into European trading overnight.  The EU’s Barnier, after telling the markets Brexit talks were at an impasse, tells a German newspaper that the EU may offer the UK a two-year transition period.   GBP looking better on the charts across the...

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

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    $USD trading mixed ahead of US PPI. $GBP slammed lower on Brexit impasse comments

    Nothing new learned from the FOMC minutes yesterday Powell now out front as the next Fed Chair USD trading mixed ahead of US PPI

    ...the daily chart.  Support just below 1.3100.  Resistance 1.3170-80.  EURGBP rockets through the 90 handle on the news, next stop 0.9050.  GBPJPY daily chart starting to look shaky again. Market Analysis Charts USD/CAD Chart ...

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

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    Catalonia defers independence. $EUR holding bid. Broader $USD mixed. FOMC minutes today.

    Dollar/CAD continues to waffle around the 1.25 handle EURCAD and GBPCAD flows have been supportive so far this week Traders watching Spain’s response now

    ...g the focus of yesterday’s trade as Puigdemont does not declare independence from Spain, but instead defers it.  The news is supportive of EUR but markets had already priced this in during London trading and the options market was never worried ...

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    North Korea fears spark $USD reversal, Yuan strength leads to start week $CNY

    USD now firmly lower from Friday's levels The Yen is tracking gold higher Traders noting a heavy week of option expires ahead

    ...lower from Friday's levels as we head into NY trading.  Some positive data suprises from the UK and an absense of more negative news for Theresa May seems to be helping GBP.  Euro traders are noting positive data suprises as well (German and Italian indust...

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    It's jobs Friday! NFP/Cdn employment on deck. $USD shorts to get tested further. $EUR $GBP $CAD $AUD $JPY

    Sterling is headed for its worst week in a year The Euro probed lower overnight Dollar/yen has renewed its upward march

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    $AUD lower on Retail Sales. No love for $GBP. NFP looms

    US stocks trade to yet another record high GBPUSD cracks below the 1.3225 USDJPY marginally weaker overnight

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    US yields and $USD weaker overnight as Trump reveals short-list for next Fed chair $CAD $EUR $JPY

    Asia offers up USD across the board AUDUSD the clear winner overnight USDCAD drifts lower on not much else than the broader USD weakness

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    RBA stands pat. $EUR and $AUD bounce. $CAD stuck with crosses weighing.

    AUDUSD probes below the 78 handle for a third time EURUSD makes a new low overnight below 1.17 Hearing talk overnight that a large macro fund bought USD across the board

    ... Aussie continues to hold on to the 78 handle as the RBA has come and gone with no surprises.  Perhaps a little bit of sell the news, buy the fact today?  NZDUSD tested lower earlier and reversed higher too.  Today’s option expiries could maintain the bid ...

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

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    $USD bid on positioning, UK PMI miss and Catalan news $EUR $GBP

    USD starts the week with a strong contrarian bid tone CAD and AUD longs continued to take heat post FOMC A reminder China is closed this week for Golden Week

    ...er lows.   EUR/USD - European Central Bank Euro With option expiries out of the way and the Catalan referendum news coming in more negative than expected, the market has found an excuse to trade lower.  Interesting to note the market ...

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

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    $USD trading mixed with month-end flows & option expiries. Cdn GDP in focus for $CAD.

    AUDUSD trying to bottom with a strong bounce off 0.7800 GBP weaker yet again in London trading Technical resistance proved formidable for USDCAD yesterday

    ...rrently trading back above the 1.18 handle.  Expect a range bound to moderately higher session as most of the week’s news flow is out of the way and the market deals with option expiries and month end flows.  Buying on the crosses (EURGBP a...

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

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    Dovish Poloz slams $CAD. $GBP finding support. $EUR bid amid option expiries.

    CAD craters on dovish comments from BOC Poloz S&Ps trade to new record on Trump tax plan GBPUSD gives up the NY low again overnight

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    Broader $USD resumes rally after mixed message from Yellen. $CAD traders eyeing Poloz speech.

    Mixed messages from Yellen’s speech yesterday Technical selling re-emerges in EURUSD during European trading Aussie tracks the EUR lower, testing the 0.7850

    ... surprising given the negative technicals we’ve been highlighting for a few days now.  Watch EURGBP today.  Despite the bearish news for the pound overnight, it continues to attack the 0.8750 level.  This level does not look strong technically and we still...

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

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    Blame it on the $JPY

    Declaration of war rhetoric from North Korea GBPUSD barely hugging onto bullish thesis Distillate-led rally in oil prices having no effect on commodity currencies.

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    EUR and NZD Under Pressure Post Elections

    EUR and NZD weaker to start week GBP shorts covered big time post BOE Quiet Monday with Draghi on the wires at 9am

    ...; This new event risk has seen NZDUSD trade back into that all too familiar 0.7200-0.7300 range.  On the weekly chart, the news is a little more bearish now.  The spike we got on the election polls last week (up to 0.7350) has been completely rev...

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

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    May Saves The Day. GBP Bid Returns, EUR and CAD Follow Suit.

    UK’s Theresa May saves the pound yesterday. Politics center stage this weekend. Oil market is watching for any developments today.

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    Currency Market Trend Analysis: September 21, 2017

    Get insights with your morning coffee. A daily feed of currency market highlights, calendar of impactful reports and events, and market trends in bite size nuggets.

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    Currency Market Trend Analysis: September 20, 2017

    Get insights with your morning coffee. A daily feed of currency market highlights, calendar of impactful reports and events, and market trends in bite size nuggets.

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    Currency Market Trend Analysis: September 19, 2017

    Get insights with your morning coffee. A daily feed of currency market highlights, calendar of impactful reports and events, and market trends in bite size nuggets.

    p{ text-align: justify; } ol {font-size:90%;} #break{display:none;} #CurrencyInsider_bottom{display:none;} .author-text {display:inline-block; text-align: left; width:60%; vertical-align: middle;} .author-img {width: 35%; min-width:100px; dis...

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