AUD/USD has been making tracks to the upside on dollar weakness and stability overall in the commodity complex. AUD/USD has rallied from 0.72 the figure since the 15th August to make a high of 0.7245 printed within the last hour. Currently, AUD/USD is oscillating at 0.7343. While there has been a correction in the CRB
German Dax up 1.1% The major European stock indices are ending the session with gains led by the German Dax. German Dax, +1.1% France’s CAC, +0.7% UK FTSE, +0.6% Spain’s Ibex, +0.7% Italy’s FTSE MIB, +0.27% Portugal PSI20 up 0.32% In the 10 year notes, yields were lower with the riskier pairs down the most.
Talking Points: – There are only two ‘high’ rated data releases on the calendar this week, the July Japanese National Consumer Price Index and the preliminary July US Durable Goods Orders report. – Central banks are in the spotlight, with a speech from RBA Governor Lowe, both of the most recent ECB & FOMC meeting
EUR/USD falls below the near-term upwards trendline ForexLive The inability to break above the 200-hour MA (blue line) and offers around the 1.1450 level has resulted in a move lower in EUR/USD and the pair is now trading near session lows close to the 1.1400 handle. The move lower in the last hour also sees
There are some political shenanigans occurring in Australia today, a potential challenge to the Prime Minister I have seen a think-out-loud piece from Australia’s best election analyst (ABC’s Antony Green’ raising the potential for an early poll: We are within 12 months of the end of the Senate term So whoever is Prime Minister is
Martin Enlund and Andreas Steno Larsen, analysts at Nordea offered some FX quickies for those of a tactical persuasion. Key Quotes: “EUR/USD: still slightly downwards biased, with resistance on the upside around 1.1448.” “EUR/NOK: rising liquidity a seasonal problem for the NOK even as a first rate hike beckons. Shorts should stay away until mid-September.
Jackson Hole back on the agenda The week ahead should be lively with some top-tier data and news on the agenda. Here are a few things to watch out for. Monday: Eurozone construction output The BOC’s Wilkins speaks in Frankfurt Fed’s Bostic speaks in Tennessee Tuesday: A Chinese delegation led by Vice Minister of Commerce
View our economic calendar to see the events that might influence each currency this week. US Dollar Forecast: US Dollar Rally May Resume on Fed Minutes, Jackson Hole Symposium The US Dollar fell from an 18-month high on hopes for trade war de-escalation. Augusts’ FOMC meeting minutes and the Jackson Hole Symposium may revive the
FUNDAMENTAL FORECAST FOR THE US DOLLAR: BULLISH US Dollar Talking Points: US Dollar touches 18-month high amid emerging market turmoil Hopes for US, China trade war de-escalation trigger downturn Hawkish FOMC minutes, Jackson Hole news-flow to revive rally See the latest US Dollar forecast learn what will drive prices in the third quarter! The US
FUNDAMENTAL FORECAST FOR CNH: Neutral How to trade news? Learn with DailyFX Free Trading Guides! PBOC stepped in twice when the USD/CNH broke above 6.90, a key threshold below 7.0. US-China Trade war and weak Chinese fundamentals add difficulties to support the Yuan. USD/HKD touched the lower limit of 7.85, a level that HKMA will
Fundamental Australian Dollar Forecast: Neutral AUD Talking Points The Australian Dollar remains in a pervasive downtrend against its US cousin Interest rate differentials and twitchy risk appetite will probably ensure it stays ther But this week could offer some pause Find out what retail foreign exchange traders make of the Australian Dollar’s prospects right now,
Forex news for North American trading on August 17, 2018: Markets: WTI crude up 0.48 to $65.94 Gold up $10 to $1184 S&P 500 up 9 points to 2850 US 10-year yields float at 2.86% AUD leads, USD lags The day started with a surprisingly hot Canadian CPI report at 3.0% y/y versus 2.5% expected.
Ripple leads the way with a 15% gain The chart doesn’t paint the prettiest near-term picture but a massive gain is a massive gain and that’s exactly what Ripple and some other cryptos had today. Ripple led the way with a 15% gain, up to 0.34 cents. It’s up 38% from the mid-week low. Ripple announced
S&P Global Ratings has recently announced that it lowered Turkey’s sovereign rating to B+ from BB- while maintaining the outlook at stable. Below are key takeaways, via Reuters, from the publication. S&P says Turkey long-term foreign currency rating lowered to ‘b+’ on implications of extreme lira volatility; outlook stable. S&P says substantial weakening of lira has
Fundamental Forecast for <USOIL>: Neutral Talking Points: The ONE Thing: Emerging markets like China, Turkey, & South Africa dominated the news flow and continued to be a cause for concern about whether or not demand is waning for energy. Seven straight weekly losses would account for the longest losing streak since 2015 Per BHI, U.S.
“Gold specs continued to add to their net short positioning, which is the shortest since 2001, as the record amount of shorts continue to grow,” TD Securities analysts pointed out in a recently published report that assesses the latest CFTC report. Key quotes “Gold: Persistent dollar strength amid Turkey concerns and EM currency turmoil prompted
Positive developments on trade improve the market sentiment on Friday. CBOE Volatility Index drops 7% on the day. After starting the day slightly higher, major equity indexes in the U.S. turned during the first few hours of the session but gained traction in the remainder of the day to close the week on a positive
Commitment of traders report for the week ending Aug 14, 2018 EUR short 2K vs 11K long last week. GBP short 61K vs 59K short last week. JPY short 58K vs 63K short last week. CHF short 46K vs 46K short last week. CAD short 26K vs 25K short last week. AUD short 51k vs
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
I spoke with BNN about the Canadian dollar yesterday [embedded content] 80-cents in CAD/USD is 1.25 in USD/CAD. As for the pair right now, Guajardo is out with some more comments on NAFTA: Hopes to finish remaining US bilateral issues on NAFTA by middle of next week Some issues related to NAFTA auto rules of
The index loses the grip and drops to the 96.30/25 band. Yields of the US-10 note rebound from lows near 2.84%. US advanced Consumer Sentiment seen at 95.3 in August. The greenback, in terms of the US Dollar Index (DXY), is meeting further downside pressure and is navigating daily lows in the 96.30/25 band. US
Talking Points: – This week saw another extension in the topside run in the US Dollar, as the Greenback gained Monday-Wednesday, and started to pullback over the final two days of the week. The Dollar ran into a big Fibonacci level on Tuesday and after pushing ahead on Wednesday, fell back-below on Thursday and Friday
Dollar being offered as things start to pick up on the day ForexLive There isn’t anything on the wires to have kicked the dollar lower, but as mentioned earlier here the dollar index is starting to indicate that sellers are coming back into the picture. For the time being, this is an extension of the
Senior Analyst at Commerzbank Axel Rudolph sees the recovery in the pair could extend to the 1.1508/10 area. Key Quotes “EUR/USD’s bounce off the November 2016 high at 1.1300 has further to run and targets the May and June lows at 1.1508/10”. “Should a drop and daily chart close below the 1.1300/1.1296 November 2016 and
Reserve Bank of Australia Governor Lowe in parliament for his twice-yearly testimony The Q&A is underway Always the best bit as the parliamentarians try to ask sensible questions (and often fail) and RBA officials try to keep a straight face ps. Sitting next to Lowe is Luci Ellis, RBA Assistant Governor (Economic) ForexLive
Canadian Dollar Talking Points USD/CAD holds a narrow range going into the end of the week, but updates to Canada’s Consumer Price Index (CPI) may fuel the recent rebound in the exchange rate as the headline reading for inflation is expected to hold steady at 2.5% per annum in July. USD/CAD Outlook Mired with Mixed
The Aussie saw a mild recovery yesterday, but Dollar support remains high. Little of note for the AUD is on the calendar to close out the week, though talking points from central bankers will be coming later. The AUD/USD caught a brief relief rally on Thursday, lifting into 0.7285 and clawing back much of the
Boeing and Cisco helping the Dow 30 The Dow is up over 400 points now (up 420 actually) or 1.67%. The gains are being fueled by a 10% rise in Walmart after earnings beat expectations. Boeing is up 4.13% and Cisco, which also beat earnings yesterday after the close, is up 3.59%. All the Dow