Tag Archives: USD/CNY
Commonwealth Bank: Major Currencies Forecasts
The following are Commonwealth Bank of Australia’s latest major currencies forecasts.
Weekly Economic & Financial Commentary
U.S. Review Monetary Policy: Continuity—For Now · In her testimony to the Congress, the new Fed Chair called for continuity and
Daily FX Update
Leading into the NA long‐weekend the USD is weak, equities and gold prices are strong, oil prices are still flirting with $100, the US 10‐year is at 2.72% and volatility metrics are lower.
The Global Macro Pulse
USDJPY made another attempt to test the low around 101.8 in Asia. A 1.8bp drop in US 10y yield to 2.7141% also contributed to the move.
The Global Macro Pulse
In FX, AUDUSD was the main mover, dropping about 1% to 0.894 in response to weaker-than-expected employment data. EURUSD recouped some of its overnight losses to rise to 1.3615 while USDJPY fell
The Global Macro Pulse
New Fed Chair Yellen’s clear message of continuity of Fed policy has helped push equities and EM Asia currencies higher across the board. The Nikkei is up 0.7%, the Hang Seng rallied 1.1%,
Daily FX Update
The USD is weak leading into Chair Yellen’s first testi‐mony as Fed Chair. The DXY has traded to a fresh 9‐session low and is flirting with a break of its 100‐day MA and trend support (see bottom chart).
The Global Macro Pulse
G10 FX saw CAD, AUD, and EUR jump in succession in what seems to be stop driven moves. USDCAD jumped from 1.1057 to 1.1087 in early Asian trading before settling at 1.1081.
The Global Macro Pulse
The USD has been essentially directionless. Although AUDUSD is down slightly to 0.8942, EURUSD and USDJPY are roughly unchanged at 1.3626 and 102.38.
Weekly Economic & Financial Commentary
U.S. Review Is the Economy in a Freeze? · Businesses added 113,000 jobs in January, which was fewer than expected.
The Global Macro Pulse
The USD was relatively steady against majors ahead of US payrolls. EURUSD was unchanged at 1.359, holding onto gains post yesterday’s less dovish than expected ECB.
The Global Macro Pulse
The better than expected US non-manufacturing ISM has boosted risky assets in Asia. All Asian equity markets have risen, with the Nikkei up 0.4%, the Hang Seng up 0.5% and Kospi up 0.8%.