Category Archive: 4) FX Trends
The Greenback Bounces Back
Overview: After modest US equity gains yesterday, the weaker yen and Beijing’s approval of 60 new video games helped lift most of the large markets in the Asia Pacific region.
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Reserve Bank of Australia Surprises, but Aussie Struggles
Overview: The jump in US interest rates helped lift the greenback to new 20-year highs against the Japanese yen and pushed the euro back below $1.07. US equities saw initially strong gains pared and this set the tone for today’s activity.
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Greenback Looks Poised for Additional Gains
The divergent performances make it challenging to talk about the G10 currencies last week. The Canadian dollar led the advancing major currencies with a 1.2% gain last week.
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Moderating Labor Market is what the Fed Wants
Overview: For the large rally in US stocks yesterday and the sell-off in the dollar, US rates were surprisingly little changed. This set the tone for today's action, ahead of the US employment data. Asia Pacific equities moved higher and Europe’s Stoxx 600 has edged up to extend yesterday’s rise. The 10-year US Treasury yield is little changed, hovering around 2.91%. European benchmark yields are 1-3 bp higher.
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Dollar Gains Pared
Asia Pacific equities were mostly lower. China and India bucked the trend. Europe’s Stoxx 600 is steady with no follow through selling after yesterday reversal. US index futures are posting modest gains and are trying to snap a two-day drop.
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Bank of Canada’s Turn
Overview: The recent equity rally is stalling. Asia Pacific equities were mixed, with Japan, South Korea, and Australia, among the major bourses posting gains. Europe’s Dow Jones Stoxx 500 is slipping lower for the second consecutive session, ending a four-day bounce. US equity futures are little changed.
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Bank of Canada faces a tough test
Adam Button from Forexlive joins BNN to discuss the June 2 Bank of Canada decision and the outlook for the Canadian dollar. The loonie is trading at a one-month high but housing will be a headwind in the months ahead. On the flipside, the relentless rally in oil led to a 14-year high in the current account surplus in Q1, with more to come.
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Macro and Prices: Sentiment Swings Between Inflation and Recession
(On vacation for the rest of the month. Going to Portugal. Commentary will resume on June 1. Good luck to us all.) The market is a fickle mistress. The major central banks were judged to be behind the inflation curve.
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Sentiment Remains Fragile, and the Euro and Sterling can barely Sustain even Modest Upticks
Equities are recovering from dramatic losses. Today, the Nikkei, Hang Seng, and Kospi surged by more than 2%.
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Dollar and Yen Surge
Overview: Global equities are bleeding lower. Several large markets in the Asia Pacific region, including Hong Kong, Taiwan, and India are off more than 2%. Japan and Australian bourses fell by more than 1.5%.
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Greenback Softens Ahead of CPI
Overview: It appears that investors have become more concerned about growth prospects and less about inflation in recent days. The US 10-year yield that had flirted with 3.20% at the start of the week is now around 2.93%.
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No Rest for the Weary
Overview: Risk appetites are improving on the margin. Asia Pacific stocks still fell after the sharp losses on Wall Street on Monday. Still, China, Taiwan and Indian equities traded higher. Europe's Stoxx 600 is snapping a four-day 6.5%+ slide and is up around 1.2% in late European morning turnover.
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Forex Live – The Premier Source of Financial News for Professional Traders
Discover real-time market news, technical analysis, live charts and quotes, education, and more at https://www.forexlive.com/
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The Week Ahead: US CPI and PPI Set to Soften
The Fed's 50 bp rate hike is behind us. Another 50 bp hike is expected next month. The April
employment report will do little to calm the anxiety about the "too tight" labor market.
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Fed Day
Overview: The markets are mostly treading water ahead of the FOMC decision later today. Tech stocks tumbled in Hong Kong and the Hang Seng fell a little more than 1%, while India was the worst performer in the region falling over 2% following an unexpected and intra-meeting hike by the Reserve Bank of India.
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Martin Schlegel appointed to SNB
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 your initial investment; do not invest money that you cannot afford to lose.
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RBA Surprises with a 25 bp Hike
Overview: The large bourses in Asia Pacific except Hong Kong eased. Japan and China's mainland markets are closed for the holiday. Europe's Stoxx 600 is up about 0.6%. It gapped lower yesterday and has not entered the gap today. US futures are a little softer.
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The Euro Continues to Stuggle to Sustain Even Modest Upticks, but Specs Still Long in the Futures
Overview: The US dollar begins the new week on a firm note ahead of the mid-week conclusion of the FOMC meeting. Many centers are closed for the May Day holiday, making for thinner market conditions. Equities are mostly lower in the markets that traded today. This includes Japan, South Korea, Australia, and India in the Asia Pacific.
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May 2022 Monthly
The general contours of the business and investment climate are being shaped by three forces. First, Russia's invasion of Ukraine and the sanctions boost price pressures and slow growth.
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Did China’s Politburo Throw Markets a Lifeline?
Overview: Speculation that a midday statement by China's Politburo signals new efforts to support the economy ahead of next week's holiday appears to have stirred the animal spirits.
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