Aussie Still Trending Lower Morning Report: 06.30 London • Despite a few attempted recoveries in recent weeks, the trend seems firmly set against the Australian dollar with further downside this morning. This follows a Dovish interpretation of RBA Governor Stevens’ speech this morning. The New Zealand dollar is lower. […]
US Manufacturing Gives Cause for Concern Morning Report: 06.30 London • This morning, the US dollar is holding recent gains despite below par US manufacturing data yesterday. Philly Fed Manufacturing dropped unexpectedly while unemployment claims came in marginally above estimates. • The USD/JPY fell back […]
Euro & Pound Diverge Morning Report: 06.30 London • The euro remains pressured this morning after heavy selling on Wednesday amid speculation that the ECB will extend its easing program and general policy uncertainty. The move saw the euro sink against the dollar and especially against the pound. […]
Soft Start for Euro Morning Report: 06.30 London • This morning, the euro is lagging on reports that the IMF is pressing the EU to allow Greece to skip paying interest payments. • The EUR/GBP is lower despite UK inflation and PPI coming in below […]
Optimistic Start to Week Morning Report: 06.30 London • This morning, markets have started the week with an optimistic, if cautious bias. Economic Bellwether the Australian dollar is on the rise, along with its close cousin the New Zealand dollar. […]
US Economy Remains Sluggish Morning Report: 06.30 London • This morning, the US dollar remains unchanged after a positive session yesterday. The move is part of the ongoing preference for safety following lackluster US unemployment claims yesterday. • Markets are generally lacking a strong trend […]
UK Rates Set to Remain Unchanged Morning Report: 06.30 London • The morning markets are eyeing the latest interest rate decision from the Bank of England. As has been the case since the financial crisis, no change is expected, but traders will no doubt read the comments from governor Mark Carney. The EUR/GBP rose sharply […]
Kiwi Dollar Pushes Higher Morning Report: 06.30 London • The New Zealand dollar is out-performing overnight after the RBNZ expressed concern about the hot housing marketing, but stopped short of any measure to tighten lending. The NZD/USD is unchanged this morning but saw some late buying interest last night. […]
China Shrinking at a Slower Pace Morning Report: 06.30 London • This morning, the US dollar has continued its resurgence, switching the balance of power away from the yen which is struggling this morning. The dollar’s surge is being helped by oil prices dropping below $44.00 yesterday. […]
Dollar Rallies Despite Payroll Miss Morning Report: 06.30 London • This morning, the dollar index is holding recent gains made despite Non-Farm Payroll data coming in well below expectations at +160k. The dollar’s apparent strength may be as much to do with the yen taking its foot off the gas as the USD/JPY continues its […]
Dollar Extends Advance Morning Report: 06.30 London • This morning, the US dollar remains on a firm footing ahead of today’s Non-Farm Payroll release around midday. • Meanwhile, the Australian dollar is under pressure following the release of the minutes from the last RBA meeting. […]
Aussie Slumps on Rate Cut Morning Report: 06.30 London • This morning, the Australian dollar is under severe pressure after cutting rates by 0.25% to 1.75%. In a double blow, Chinese Caixin manufacturing PMI came in below expectations, indicating even slower growth ahead. The AUD/JPY is down 1.75%, with the AUD/USD off by 1.22%. • […]
Dollar Retreats as Growth Disappoints Morning Report: 06.30 London • This morning, markets have continued to absorb the implications for the US and world economy after US GDP came in at +0.5% vs expectations of +0.8%. The dollar is now down for the second straight day. […]
Yen Surges as BoJ Holds Morning Report: 06.30 London • This morning, the yen is surging after the Bank of Japan opted to keep its policy on hold. Speculation was rife that the BoJ would be cutting interest rates on loans and extending stimulus, but BoJ governor Haruhiko Kuroda has shocked many by apparently backing […]
Aussie Inflation Shock Morning Report: 06.30 London • The Australian dollar is the big mover this morning after quarterly CPI came in negative for the first time since 2009. Australian dollar pairs have sunk by over 1.5% on the news, with the AUD/JPY reversing recent gains. […]
Yen Builds Second Day Reversal Morning Report: 06.30 London • This morning, the yen pairs are staging a second day of reversals after Friday’s surge. The AUD/JPY is one of the biggest losers so far with half of Friday’s gains now undone. By contrast, the USD/JPY is holding its ground, with the EUR/JPY showing only […]
Yen Recovering after BOJ Turns Negative Morning Report: 06.30 London • This morning, the yen pairs generally have a negative bias as the yen recovers some poise after large scale losses on Friday. Reports that the BoJ was moving towards negative lending rates sent the yen pairs into orbit on Friday, with a corresponding boost […]
Yen Slips as Risk Appetite Returns Morning Report: 06.30 London • This morning, the Japanese yen is on the back foot, helping to lift all yen pairs. Risk appetite appears to have returned this morning, after general selling this morning. […]
Oil Pushes Through $45 Morning Report: 06.30 London • This morning, the US dollar is on the back foot after oil prices pushed through $45 yesterday, the highest level in 2016. • The surge has […]
Yen Demand Returns Morning Report: 06.30 London • This morning, the Japanese yen is back in demand, driving the yen pairs lower, especially the AUD/JPY which is tailing off from the highs after the latest crude oil surge faltered. […]
Rapid Oil Price Recovery Morning Report: 06.30 London • Oil prices staged a remarkable recovery yesterday, helped by a ‘risk rally’ that lifted the yen pairs higher. • The AUD/JPY saw the largest gains as […]
Yen In Demand as OPEC Fails to Agree Morning Report: 06.30 London • This morning, markets are reacting to OPEC’s failed to agree a cut in output. The news has pushed oil prices lower after days of above $43 price. Commodity currencies have been the big losers, with the USD/CAD gapping higher this morning. […]
In Line Chinese Growth Morning Report: 06.30 London • This morning, Chinese GDP came in at 6.7%, in line with expectations, but still the lowest reading since 2009. It paints a general picture of a slowing but stable Chinese economy. Industrial production came in slightly above expectations at +6.8%. The Australian dollar has been the […]
Pound Weakens Ahead of MPC Morning Report: 06.30 London • This morning, the British pound is on the back foot for the second day in a row ahead of today’s Bank of England MPC rate statement. No change is expected again, but as ever, it is the forward guidance which may excite traders today. […]
UK Inflation Flashes Higher Morning Report: 06.30 London • This morning, the US dollar is steady after minor gains yesterday, while the Japanese yen is extending its reversal off the lows. • Oil prices are […]
Yen Reversal, but Dollar Struggles Morning Report: 06.30 London • This morning the US Dollar is on the back foot again, despite a reversal for the Yen and USD/JPY. For the first in many session, the Yen pairs are on the rise. […]
Dollar Dips as Yen Extends Advance Morning Report: 06.30 London • This morning, markets are starting with a continuation of last week’s Dollar softness alongside extended Yen strength. The US Dollar index has slipped lower while the USD/JPY has pushed lower again after an initial gap higher. […]
Cautious Fed Sinks Dollar Morning Report: 06.30 London • This morning, the Dollar remains under pressure after the minutes from the last FOMC meeting revealed a cautious Fed that may delay a rate hike until after June. The release sent the Dollar reeling against most other currencies, with oil prices enjoying an unexpected boost as […]
Cautious Optimism Morning Report: 06.30 London • Markets remain cautiously optimistic after another drop in US markets overnight. Equities have recovered well off the February lows, but no-one is expecting a straight line recovery from here, especially with the ECB in ‘whatever it takes’ mode and Greece rumbling in the background. The US Dollar has […]
RBA Holds Rates For Now Morning Report: 06.30 London • This morning, the RBA kept rates on hold at 2.00% as expected, but a widening trade balance deficit opens up the door for cuts in the future. The Aussie is experiencing minor selling this morning, but the New Zealand Dollar is experiencing some follow-on selling […]
