Forex Analysis
BoE preview: The King has left the building
Sir Mervyn King was replaced as Bank of England (BoE) Governor by Mark Carney today. Thursday’s MPC meeting will be the first chaired by the new Governor and
Central European Daily
Regional PMI’s significantly improved in June Koruna is reluctant to stay below EUR/CZK 26.0 On Friday, the Czech koruna was gradually strengthening throughout the session but
ECB headlines quartet of central bank meetings this week.
A cavalcade of central bank meetings this week with the RBA up tonight, the Riksbank on Wednesday and the ECB and BoE on Thursday.
NZD and MXN positioned at one-year lows last week, USD unchanged
Hedge funds made only small changes to their IMM currency positions during the week ending June 25, according to the latest data from the US Commodity Futures Trading Commission.
The Global Macro Pulse
Asian equity markets are mixed, with the Nikkei down 0.5%, S&P futures down 0.3%, but Shanghai and the Kospi essentially flat.
RBA Decision More Important For AUD/NZD Than AUD/USD
While the Australian rate market is pricing around a 20% chance of 25bp cut by the RBA on Tuesday (local time), the clear majority of analysts
Morning FX Market Commentary
EUR/USD holding near 1.30 going into the key US eco data On Friday, trading in EUR/USD was mostly technical in nature.
PMIs and ISM in the spotlight; Carney starts at the BoE
A significant amount of key US and European economic data is released this week. The main data highlight from the US today is the all important ISM manufacturing.
ECB preview: Monetary exit remains very distant
• We expect rates to be kept unchanged, which is in line with the general perception.
USD/JPY Analysis
The pair closed in NY Friday at Y99.14 after rate had extended its recent recovery to Y99.45 on the back of month end fix demand.
GBP/USD Analysis
The pair closed in NY Friday at $1.5213, the rate recovering off a session low of $1.5165 seen as the rate saw extended lows following strong dollar demand seen at the end month fix.
EUR/USD Analysis
The pair closed in NY Friday at $1.3010, recovering off a low of $1.2991 after it had been sold down from a high of $1.3106 as the dollar saw strong demand at the end month fix.