Tag Archives: CAD
FX Daily Strategist: Europe
Sentiment looks to be improving, but headwinds ahead Commodity currencies emerged as the top FX performers against the USD, with the CAD gaining nearly 1% against the USD after the BoC’s hawkish statement. Market sentiment held up following the successful Spanish T-bill auctions and the better-than-expected ZEW survey: Italian and Spanish 10yr yields closed 11 […]
Americas FX Daily – USD gives up early gains as equities rally
USD gives up early gains as equities rally What happened overnight – UK inflation comes in a bit firmer than expected, up 3.5%yoy – RBA minutes confirm likelihood of May easing
Americas FX Daily – EURUSD dips back below 1.30
EURUSD dips back below 1.30 What happened overnight – China widens USDCNY trading band to +/- 1% from +/-0.5% previously – WSJ reports Moody’s might cuts ratings on 114 European institutions
FX Daily Strategist: Europe
US NFP disappoints; asset market reactions suggest global growth under fresh scrutiny Friday’s disappointing 120k payrolls report confirms the Fed’s fears that the strength in employment over the past few months was partly due to seasonal factors. The number itself is not weak; but it is barely enough to hold the unemployment rate constant with […]
Good Friday = Good Payrolls?
The only real news from the Asian session was talk of a possible China Reserve Ratio Requirement cut over the weekend. This stems from the latest PBOC’s Q1 monetary policy pronouncement (released last weekend but only picked up recently due to the holidays) which called for an “appropriate increase” in money and credit compared with […]
FX Daily Strategist: US
EURCHF collapses momentarily printing sub-1.2000 EURCHF came under some pressure initially following the Swiss CPI, however the move accelerated in the mid-morning session with 1.2030 giving way prompting a sharp decline to 1.1998 (as per RTRS) within seconds.
FX Daily Strategist: Europe
Risk-USD correlation dependent on source of stresses The correlation between risk and the USD remains somewhat ambiguous: Wednesday saw equity markets lower but a rally in the USD. Where risk-taking is spurred by positive US data, the USD can rally in tandem, with the JPY and the EUR taking the brunt of the moves as […]
FX CFTC: Dollar longs pared as EUR, JPY and GBP are bought
Currency speculators had a busy time in the week to last Tuesday with many position adjustments occuring all resulting in a net reduction of long dollar positions to the lowest level in a month, according to the latest data from the US Commodity Futures and Trading Commission. The net long dollar position versus eight IMM […]
FX Daily Strategist: Europe
FX Facts Fit The Figures Thursday was something of a rarity in FX markets in that there was no need for journalistic licence in fitting facts to figures. Moves in most of the G10 currencies could credibly be attributed to idiosyncratic economic news.
Fears of China slowdown retreat; risk currencies regain ground
In contrast to BHP Billiton’s gloomy outlook for China demand for iron ore announced yesterday, Australia’s Bureau of Resources and Energy Economics (BREE) issued its latest forecasts – and it was certainly upbeat. The agency expects iron ore exports to rise by more than 50 percent by 2016/17 compared with last year on the back […]
FX Daily Strategist: Europe
USD loses most of its earlier-week gains; soft US core a factor A quick look-back shows the USD was actually weaker on the week (in DXY terms at least) and within G10 was only stronger versus CAD, NOK and JPY. USD gains earlier in the week followed the break higher in Treasury yields, the latter […]
European FX Daily – Risk rally after Greek lawmakers pass austerity plans
– The AUD and SGD lead rally vs the USD, Asian equities up 0.2-0.7% – Greek parliament approves austerity measures – Greek PSI in focus – Firmer US data is supportive of the risk complex