Tag Archives: ECB
Global FX Strategy: SEK ahead of the Riksbank
SEK: Riksbank on hold not necessarily SEK bullish To cut or not to cut in December is a hard guess, but a scenario where the Riksbank leaves rates unchanged will likely come with a lower rate path,
FX Viewpoint: inflation focus
Whatever it takes. And it does take very little from ECB to keep the EUR strengthening: just a do nothing with Draghi’s philosophical “if the time ever comes” for the new measures.
The Week Ahead in FX
In the week ahead, the U.S. is to release what will be closely watched data on retail sales, while rate announcements by the Reserve Bank of New Zealand and the Swiss National Bank will also be in focus.
Weekly Forex Report
Nonfarm payrolls leave the door open for a taper in December In the US, upward revisions for the third quarter growth and inflation slightly added to the recent improving economic outlook.
Daily FX Wrap and Strategy
After touching below 0.8160 overnight the NZD/USD has returned to trade above 0.8210 this morning. There was little on the domestic agenda to drive the currency yesterday,
Macro Viewpoint: ECB still pondering its options
The ECB kept rates unchanged and confirmed its forward guidance – key interest rates will remain at the current level or lower for an extended period.
The Global Macro Pulse
AUDUSD has edged slightly higher, to 0.9045, after falling sharply in New York. In contrast, EURUSD is flat at 1.3585 and the yen has held some of its overnight gains to trade at 102.31 vs. the USD.
Daily FX Wrap and Strategy
The NZD/USD was dragged lower by the AUD yesterday, but stabilised overnight to sit around 0.8180 currently. There were limited domestic data releases yesterday.
US dollar set to strengthen in the short-term
USD: under pressure because of the Fed As expected, the US dollar failed to appreciate in a week shortened by the Thanksgiving celebration and bereft of any major economic statistics.
ECB Viewpoint: Not again
We expect very dovish signals from the ECB at this week’s monetary policy meeting, but no change in key rates.
Daily FX Wrap and Strategy
This will be my last BNZ Markets Wrap & Strategy. Thanks for your interest and readership and over the past few years. All the best, Mike.
FX Viewpoint: to cut or not to cut
“Demand creates supply.” (ECB policy in a nutshell) Tapering is on…just not in the US. ECB’s excess liquidity declining further,