Tag Archive: $CAD $GBP

FX Daily, March 18: Equities Advance, Dollar Slips, Key Events Awaited

2019-03-18

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2019-03-18

The eventful week has begun off slowly. After Wall Street's best week in four months underpinned Asian' equities, where all the markets but Thailand, advanced, led by the nearly 2.5% rally in Shanghai. Note that New Zealand's S&P/NZX 50 rose to new record highs.

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FX Weekly Preview: Dovish Hold by the ECB and Uptick in US Wages will Underscore Divergence

2019-03-04

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2019-03-04

The important events take place in the second half of the week ahead: the ECB meeting and the US employment report. A dovish hold by the ECB is the most likely outcome. US jobs growth is bound to slow from the heady 304k gain in January, but there won't be anything in it that lends credence to ideas that the world's largest economy is on the precipice of a recession.

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FX Daily, January 31: Did Powell Toss in the Towel or was it a Tactical Retreat?

2019-01-31

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2019-01-31

Overview: The Fed's dovish tone and earnings news are the main drivers of the capital markets today, helping lift stocks, bonds, and currencies.  Large equity markets in Asia, including Japan, Hong Kong, China's CSI 300, India, and Indonesia, all rose more than 1%, putting the MSCI Asia Pacific Index in a good position to extend its rally for a fourth consecutive week. 

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FX Daily, January 25: Euro Pares Yesterday’s Losses and Sterling Pulls Back after topping $1.31

2019-01-25

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2019-01-25

Overview:  The US dollar is paring yesterday's gains against most of the major and emerging market currencies. Sterling pushed above $1.31, an 11-week high on news that the DUP would support Prime Minister's Plan B that calls for limits on the backstop with Ireland, something that the EC and Ireland have indicated are not on the table.

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FX Weekly Preview: Europe Moves to the Center Ring

2019-01-14

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2019-01-14

In recent weeks, the macro story focused on the shifting outlook for Fed policy and the Sino-American trade relationship. There is unlikely to be further progress on either issue in the week ahead. The Fed won't raise interest rates until toward the middle of the year at the earliest.

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FX Daily, December 10: Lack of Closure Weighs on Sentiment

2018-12-10

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2018-12-10

Investors angst over trade tensions and Brexit continue remains elevated, and poor Chinese and Japanese economic news played on global growth fears. Equities continue to slog lower. Bond yields are little changed, and the dollar is lower against most of the major currencies.

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FX Daily, December 04: Stock Rally Arrested, but Bond and Oil Advance Continues, leaving Dollar in a Lurch

2018-12-04

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2018-12-04

Overview: Equity markets are unable to build on yesterday's advance, but bonds and oil are extending gains. The dollar remains on the defensive and is off again all the major currencies. The lack of a joint statement over the weekend by the US and China and seemingly different interpretations of what was agreed leaves investors in a lurch.

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FX Daily, November 07: Equities and Bonds Jump While the Dollar Slumps

2018-11-07

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2018-11-07

The dollar has fallen against nearly every currency. It had been moving lower at the start of the week, but what seems like a correction broadened and deepened following the US midterm election. The outcome was largely in line with expectations for the Republicans to hold the Senate and the Democrats to take a majority of the House for the first time since 2010.

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FX Daily, October 10: US Dollar Pullback may Continue in North America

2018-10-10

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2018-10-10

The euro bottomed yesterday near $1.1430 and reached $1.1515 in Asia. Support is seen near $1.1480 and should hold if the euro's upside correction is to continue. There are options struck $1.1500-$1.1510 for nearly 1.4 bln euros that expire today. For the third consecutive session, the dollar found bids a little below JPY113.00. There is a $1 bln JPY113 option that will be cut today.

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FX Daily, September 04: Dollar Gains Broadly

2018-09-04

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2018-09-04

The US dollar is rising against all the major and emerging market currencies today. The signals from the White House suggest strong pressure will be exerted on Canada to sign on to NAFTA 2.0 or risk losing part of its auto sector, which of course is primarily the production of US brands. At the same time, the US is in no mood to negotiate with Europe or China.

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FX Daily, August 24: Greenback Marks Time Ahead of Powell

2018-08-24

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2018-08-24

The US dollar is paring some of yesterday's gains in quiet turnover ahead of Fed Chief Powell's speech at Jackson Hole, the week's last highlight. The euro and sterling are trading inside yesterday's ranges, which the dollar has extended its gains against the yen to reach a two-week high near JPY111.50.

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FX Daily, August 22: Markets Take US Political Developments in Stride

2018-08-22

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2018-08-22

News that President Trump's personal lawyer claimed he was instructed by the candidate to commit a federal crime and, separately, his the former campaign manager was found guilty on eight counts is hardly impacting the global capital markets.

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FX Daily, August 21: Trump Comments Hit Dollar, Little Impact on Rates

2018-08-21

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2018-08-21

The US dollar is broadly lower following President Trump's comments yesterday, criticising Fed policy and reiterating his previously made claim that China and the EU are manipulating their currencies. We suggested that last week's presidential tweet that identified strong capital inflows into the US may not have been written by President Trump.

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FX Daily, August 20: Greenback Consolidates Pre-Weekend Pullback in Quiet Turnover

2018-08-20

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2018-08-20

The US dollar is slightly firmer against most of the major currencies, as the light participation and lack of fresh news see a consolidative tone emerge after the pullback at the end of last week. Although markets in Turkey are closed for a nearly week-long holiday, it has not prevented the lira from weakening. After closing a little below TRY6.02 before the weekend, the greenback has moved to TRY6.15 in the European morning.

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