Forex Analysis

FX Daily: Changing the Call on CAD Crosses

The key US data suggest CAD’s external backdrop remains supportive, as do commodity prices, and fears on Canadian housing are likely overdone.

US Morning Update

We find ourselves facing something of a dilemma as regards the AUD in that we’d like to see the currency even lower still,

Mid-Day FX Market Analysis

USD: The Dollar is finding moderate pressure this morning, but is still holding onto a sizable portion of yesterday’s mid-day rally.

Czech industrial output fell more than expected Hungarian industrial output falling at slower pace CEE currencies slightly eased yesterday, giving up part of their last week´s gains. The trading volume was thinner due to the Early May Bank Holiday in the UK.

Bank of England preview

– We expect the Bank of England (BoE) to remain on hold at Thursday’s Monetary Policy Committee (MPC) meeting (13:00 CET).

FX Morning Rundown

Asian equities are trading broadly higher, with risk sentiment still buoyant post Friday?s better US NFP number and

Morning FX Market Commentary

On Monday, EUR/USD initially settled in a tight range near the 1.3100 pivot. Late in the session, ECB Draghi reiterated that the ECB is still ready to act if needed.

RBA cuts rates to 2.75%

The RBA cut the cash rate by 0.25bps to 2.75% at the May meeting. The meeting was “live” but the outcome was uncertain with the market pricing the

Norges Bank on hold until June

We expect Norges Bank to cut the interest rate in June given the low inflation momentum. This month, we expect it to keep the policy rate unchanged at 1.5% and

FX Daily

Key news – S&P500 hit another all-time high. The US stock market is boosted by growth optimism and easy US monetary policy.

USD/JPY Analysis

The pair had closed the NY session monday at Y99.34, edged to Y99.44 in pre Tokyo trade before getting pressed to lows of Y98.83.

GBP/USD Analysis

The pair closed in NY Monday at $1.5540 after recovering off a session low of $1.5521. The rate had seen highs earlier in the day at $1.5599 before reversing,