Forex Analysis
Morning FX Market Commentary
Draghi and Carney guide euro and sterling lower. The ECB and the Bank of England give markets forward guidance (or prepare to do so).
Catering to the US and China consumer
Global factors – the direction of the UST and trend dollar strength – should continue to drive the level of EM asset prices in the coming weeks.
FX Daily
Focus will be on markets digesting the implications of both ECB and Bank of England’s new (and somewhat vague) form of forward guidance.
GBP/USD Analysis
The pair closed on a heavy tone in Europe at $1.5075. The BOE left rates unchanged as expected, however as some traders had suggested the Bank accompanied the decision with a statement.
USD/JPY Analysis
A subdued overnight session for JPY pairs was quickly overcome as the Asian session got underway,
EUR/USD Analysis
The pair had dropped to a $1.2883 low in the European session after ECB Draghi’s comments but then consolidated between $1.2913-32 for the
Soft forward guidance from the ECB
The ECB left key interest rates unchanged as widely expected. In the press statement,
BoE comment: There’s a new guy in town
The Bank rate was kept unchanged at the first MPC meeting under Mr Carney, as widely expected.
Central European Daily
NBP ends monetary easing cycle at record low at 2.5% Czech retail sales surprises positively Yesterday, the Polish central bank did not surprise when it lowered its base rate by 25 basis points to a record low at 2.5%.
Morning FX Market Commentary
EUR/USD recoups Portugal-driven losses Uncertainty on Portugal, a global negative sentiment on risk and a disappointing EMU services PMI hammered EUR/USD.
Euro crisis escalation?
Possible government collapse in Portugal rattles markets A political crisis in a southern European country, anti-austerity protests, a surge in its government bond yields,