Forex Analysis

Quarterly Business Survey – June 2013

Business conditions struggle in the June quarter and confidence falls back, driven by a pessimistic mining sector.

RBNZ Preview: Tensions remain despite recent NZD easing

We expect the RBNZ to leave the OCR on hold at 2.5% at the July 25 OCR Review,

Bank of Canada: Same Message, More Clarity

• Plus ça change, plus c’est la même chose. A change at the top didn’t really bring substantive change to the Bank of Canada’s view on the economy,

Fed Midyear Outlook: Breaking Up Is Hard to Do

The Fed’s love affair with quantitative easing is waning. Even in the face of weaker economic growth,

Mid-day FX Market Analysis

USD: The Dollar is finding mild support early in today’s trading, but has been unable to sustain any extended recovery from yesterday’s sharp downdraft.

Poland relaxes budget rules Prepayment of IMF loan hardly to affect financing situation Yesterday the Polish Prime Minister Donald Tusk announced that the government will suspend fiscal rules for this and the next year,

BOE Minutes: Policy on hold ahead of the important Aug Inflation Report

The Minutes from the July BOE meeting was released earlier today.The MPC voted 9-0 for unchanged Asset Purchase Facility (at GBP 375 bn) and 9-0 for unchanged base rate at 0.5%.

Morning FX Market Commentary

Dollar in the defensive ahead of Bernanke The dollar lost further ground on Tuesday as investor stayed cautious on the US currency ahead of the Testimony of Chairman Bernanke before Congress today and tomorrow.

Fed Chairman Bernanke centre stage again

There was plenty of economic newsflow yesterday, but markets were in modest risk off mode ahead of today’s main event,

FX Compass

While near-term risk is for a broad dip in the USD as Bernanke speaks later today, we feel that the next leg of the “normalization” of the AUD could start soon.

FX Daily

The main event is Bernanke’s semi-annual testimony to the Congress where focus will be on hints about when the Fed will start scaling back its bond buying.

GBP/USD Analysis

The pair closed in NY Tuesday at $1.5155 after it had extended its recovery off post UK CPI inspired lows of $1.5045 to $1.5169