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 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,
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
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
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
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
Analysts at TD Securities point out that Australia’s July employment report was a mixed bag as headline jobs at -3.9k briefly disappointed, but part-time -23k offset a decent pop in full-time +19k. Key Quotes “The small decline in the part-rate to 65.5% (from 65.7%) cushioned the bottom line, hence a lower 5.3% unemployment rate.” “The
Trading the News: Australia Employment Change Australia’s Employment report may curb the recent decline in AUD/USD as the economy is anticipated to add another 15.0K jobs in July. Another positive outcome may spark a bullish reaction in the Australian dollar as it boosts the outlook for growth and inflation, and the Reserve Bank of Australia
Analysts at TD Securities explained that conditions appear deeply oversold in EUR/USD and we expect a broad 1.13/1.1450 range to be respected. Key Quotes: “We continue to think that EUR/crosses like EUR/CHF and EUR/JPY will provide important directional cues given they are one of the few remaining reserve current account surplus currencies.” “We are mindful of