Forex Analysis
Keep calm and carry on
There are still many unknowns around the Fonterra whey product contamination scare,
FX Sentiment Report
• The USD is still held net long but week-over-week changes suggest that sentiment is rapidly turning to a more bearish USD stance.
Global Weekly Snapshot
JPY: Kuroda versus the market We remain bullish on USDJPY, forecasting 105 and 120 in 3 and 12 months, respectively, but we recognize that occasional pullbacks will challenge our view.
USD Mid-day Analysis
The Dollar has been able to make a modest recovery after reaching a new 7-week low this morning,
EUR Mid-day Analysis
The September Euro is grinding out moderate gains this morning, but appears to be having much better success with sustaining this current move into new high ground.
JPY Mid-day Analysis
The September Yen went through a bumpy night of trading, but has returned back to unchanged levels this morning and continues to hold onto this week’s sizable gains.
CHF Mid-day Analysis
The September Swiss is posting moderate gains this morning, and has done so in spite of a modest increase in Swiss Unemployment.
The Global Macro Pulse
USDJPY is tracking marginally higher today after a fall to 96.60 yesterday. However, Asian stocks were posting gains this morning after stronger-thanexpected Chinese trade data and
BoE launches conditional forward guidance…
The eagerly anticipated BoE Inflation Report and press conference did not disappoint. As expected the BoE announced an official policy of forward interest rate guidance.
FX Daily
Market movers today • Bank of Japan Governor Kuroda speaks after the central bank meeting. It will be interesting to hear whether Kuroda opens the door for more future stimulus.