Forex Analysis
Mid-Day FX Market Analysis
USD: The Dollar has kept fairly close to unchanged levels in what has been a subdued overnight trading session,
ECB monthly bulletin
The ECB responded to mounting market pressure and speculation of a rate cut this meeting,
AUD and NZD rush higher on jobs data
Both of the Antipodeans report much better than expected job growth, catching the short-term market off guard and squeezing shorts.
BoE on tap
BoE – no expectations The market is expecting nothing from the BoE today because of its habit of not releasing any kind of report on its deliberations.
BoE meeting centre stage today
Attention turns to the UK with the May MPC meeting centre stage. A “no change” decision is widely expected today, although the decision is probably “live”.
EUR/USD Analysis
The pair closed in NY Wednesday at 1.3159. The initial catalyst which seemed to help push the pair higher was the
AUD/USD Analysis
AUD/USD climbed 0.61% to 1.0236, after a surprisingly strong April jobs report. The Australian Statistics Bureau said the economy there added 50,100 new jobs last month,
Markets Wrap & Startegy
The NZD has spent most of the overnight session licking its wounds following yesterday afternoon’s pummelling.
Morning Report
Currencies: The US dollar index fell around 0.4%. EUR rose from 1.3090 to 1.3194, helped by Mersch’s comments.
Business Cycle Monitor: Global recovery slowing down
Summary and outlook – The global recovery stalled in April. Momentum in OECD’s leading indicator was flat and PMIs were soft in the US, China and Europe.
Daily FX Update
Strong trade data from China, confirmation that the RBNZ has intervened in FX markets, the DAXY having rallied to fresh highs and limited data releases from
EURNOK and NOKSEK after Norges Bank
A big day for EURNOK and NOKSEK as Norges Bank leans against the idea that it will ease again. NOK could rally further on the back of today’s developments.