Forex News
Morning FX Market Commentary
No follow-through price action after Fed-decision On Thursday, EUR/USD traders experienced a remarkably calm trading session as EUR/USD settled in the mid 1.35 area.
US Existing Home Sales Rise Unexpectedly in August to Six-and-a-Half-Year High
* Existing home sales in the US rose to 5.48 million annualized units in August from July’s unrevised 5.39 million sales.
US Initial Claims Rose to 309,000 in the Week Ending September 14
US initial claims rose 15,000 to 309,000 in the week ending September 14, only partially retracing the 29,000 drop to a revised 294,000 (was 292,000) the previous week and
Sell NZD/NOK through long-dated options
We continue to see the NZD as the most overvalued G10 currency. Timing is always difficult and hence we enter this trade through a long-dated option
Morning FX Market Commentary
Fed hammers US dollar The Fed decision not to taper the asset purchases pushed the dollar off a cliff. EUR/USD spiked north of the 1.35 threshold.
FOMC: Delaying tapering
The FOMC does not usually take the market by surprise but it did today. Contrary to our and the consensus expectations, the Fed maintains bond purchases at USD85bn.
BOE Minutes: A unanimous MPC
Policy decision: The MPC voted unanimously to leave the Bank rate at 0.5% and the target for the asset purchases unchanged at GBP 375bn and
The limitations of a fallible Fed
How a fallible Fed’s limitations will be exposed Before anyone reads too much into the Fed’s actions today,
Morning FX Market Commentary
Fed decision may trigger next directional move of the USD On Tuesday, most major USD cross rates held close to recent levels ahead of the Fed.
US August CPI Rose Only 0.1% in the Month With Core Prices up a Similar 0.1%
* August consumer prices rose a smaller-than-expected 0.1% in the month following a 0.2% gain in July.
Canadian Manufacturing Sales Rebound in July
* Manufacturing sales rebounded 1.7% in July, well above market expectations for a 0.5% gain, following a revised 0.1% decline (was -0.5%) in June.
Morning FX Market Commentary
Dollar remains in the defensive ahead of the Fed The dollar was hit on Monday morning as Larry Summers dropped out of the race for Fed president.