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EUR/JPY: recovers back on to the 120 handle but lacks legs

Currently, EUR/JPY is trading at 120.14, up 0.10% on the day, having posted a daily high at 120.21 and low at 119.99.Forex today: UK terror attack, RBNZ on hold, markets pile into safe-haven YenEUR/JPY is consolidating the ...

03:00 23 March /2017 Forex

Oil prices fall to $40 over the next 6 months? - Nomura

Analysts at Nomura offered a potential scenario for the price of oil.Key Quotes:"Oil prices fall to $40 over the next 6 months?""This oil price scenario is possible if OPEC fails to extend its production cutbacks, and global growth momentum falters while global oil inventories remain elevated.""Clearly this scenario paints an even bleaker picture for headline inflation through 201...

02:23 23 March /2017 Forex

Trumpflation cracks: commoditiy bloc sensitive to US equities - Nomura Ross J Burland

Analysts at Nomura explained that the benign risk environment has been shaken by US political and fiscal uncertainty. Key Quotes:"While the decline in global equities has been minor in a historical context, it illustrates the vulnerability to a potential re-evaluation of the Trumpflation trade.""The key upcoming test will be the House vote on the American Health Care Act (AHCA; Th...

01:46 23 March /2017 Forex

RBNZ reviewed: see higher likelihood of a hike - ANZ Ross J Burland

Analysts at RBNZ explained that, as expected, the RBNZ maintained a clear neutral tone at its OCR Review today, holding the OCR at 1.75%. Key Quotes and main points:"The statement was broadly unchanged from the one delivered in February. Where changes were made (in response to some recent data surprises), comments were heavily caveated, with surprises discounted. This reinforces t...

01:46 23 March /2017 Forex

AUD/USD: eyes 0.77 handle, but bearish longer term?

Currently, AUD/USD is trading at 0.7681, down -0.12% on the day, having posted a daily high at 0.7692 and low at 0.7639.Forex today: UK terror attack, RBNZ on hold, markets pile into safe-haven YenAUD/USD was a buy on dips ...

01:23 23 March /2017 Forex

AUD/NZD: Feb-Mar rally is unfolding - Westpac

Analysts at Westpac offered their outlook for AUD/NZD and antipodean rates.Key Quotes:"AUD/NZD 1 day: A correction of the Feb-Mar rally is unfolding, the next downside target below 1.0855 being 1.0760 (50% retracement).AUD/NZD 1-3 month: Higher to 1.10+. The cross remains well below fair value estimates implied by interest rates, commodity prices and risk sentimen...

01:00 23 March /2017 Forex

Canadian Budget: Debt to GDP raito to rise to 31.6% - LiveSquawk

The Canadian government just released its 2017 budget plan titled 'Budget 2017—Building a Strong Middle Class'.Key highlights (via LiveSquawk)Headlines from the official press releaseBudget 2017 will:

00:23 23 March /2017 Forex

RBNZ: quick thoughts on RBNZ event - Westpac

Analysts at Westpac offered their thoughts on the RBNZ.Key Quotes:"The RBNZ’s OCR Review this morning kept the OCR on hold at 1.75%, retained a neutral bias, and repeated the message that the OCR is likely to remain on hold for a long time. All of this was widely expected. Accordingly, there was little market reaction.The key policy guidance paragraph stated: “Monetary policy will...

23:46 22 March /2017 Forex

Wall Street mixed ahead of HoR vote Eren Sengezer

Although major US equity indices had a weak start to the day following yesterday's major drop, they were able to erase their losses as the investors are getting ready for tomorrow's important House of Representatives vote on passing the legislation to dismantle Obamacare.In case the bill fails to pass the Congress, tax cuts, and spending increases promised by the Trump administration could be dela...

23:46 22 March /2017 Forex

Forex today: UK terror attack, RBNZ on hold, markets pile into safe-haven Yen Ross J Burland

The FX space today was mixed with a lower dollar and yields, concerns over Trump's delays to implementing policies lived on and there was a suspected terror attack at Westminster in the UK today where at least four people, including a policeman, was murdered.There was uncertainty regarding the US healthcare bill, although the White House Press Secretary Sean Spicer announced that Trump believes he...

23:46 22 March /2017 Forex

NZD/USD: mixed price action around on hold RBNZ jawboning the bird

Currently, NZD/USD is trading at 0.7068, up 0.37% on the day, having posted a daily high at 0.7075 and low at 0.7016.Statement by RBNZ's Wheeler following the OCR decisionNZD/USD moved back to pre-announcement levels after an initial offer in t...

23:23 22 March /2017 Forex

RBNZ leaves OCR unchanged at 1.75% Eren Sengezer

The Reserve Bank of New Zealand decided to keep the Official Cash Rate (OCR) unchanged at 1.75% at today’s meeting, matching the consensus. 

23:23 22 March /2017 Forex

Statement by RBNZ's Wheeler following the OCR decision Eren Sengezer

Statement by Reserve Bank Governor Graeme Wheeler:The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent.Macroeconomic indicators in advanced economies have been positive over the past two months.  However, major challenges remain with on-going surplus capacity in the global economy and extensive geo-political uncertainty.Global headline inflation has increased, partly ...

23:23 22 March /2017 Forex

WTI recovers after EIA-induced decline Eren Sengezer

Following the EIA report, the West Texas Intermediate dropped to $47.08, lowest since the late November, but was able to recover back above $48. At the moment the barrel of WTI is losing 0.35% at $48.07.Crude inventories rose 5 million barrels in the week to March 17, the Energy Information Administration reported on Wednesday. Furthermore, the report showed that the U.S. producti...

22:46 22 March /2017 Forex

AUD/USD: focus on commodities and weaker dollar supporting the bid

Currently, AUD/USD is trading at 0.7681, down -0.12% on the day, having posted a daily high at 0.7692 and low at 0.7639.White House: There are no plans to pull healthcare bill - RTRSAUD/USD is threatening the upside at the resistance of 0...

22:23 22 March /2017 Forex

USD/JPY: yen making fresh highs for 2017 - Scotiabank Ross J Burland

Analysts at Scotiabank noted that the JPY is strong and outperforming all of the G10 currencies hitting a fresh 2017 high at levels last seen in late November.Key Quotes:"The broader tone remains dominant in providing JPY support, reflecting JPY’s risk profile and tendency to strengthen in periods of uncertainty. FX-related comments from Finance Minister Aso have been relatively m...

22:23 22 March /2017 Forex

Energy prices set to slow down CPI in G10's? - Nomura Ross J Burland

Analysts at Nomura explained that energy prices are set to contribute negatively to headline CPI in almost all G10 countries in the coming months. Key Quotes:"On a cross-country basis, it is clear that the US and Canada are hit most negatively by base effects going forward. However, with US core CPI tracking above 2% pa, this may be more likely to be overlooked by the market. Base...

22:23 22 March /2017 Forex

EUR/USD retreats below 1.0800 Matías Salord

EUR/USD failed to rally above the 1.0820/30 area and pulled back. The pair is hovering around 1.0795, about to end the day unchanged from yesterday’s closing price. The euro weakened during the European session and favored a retreat of EUR/USD, that after reaching a fresh 2-week high at 1.0825, pulled back. “The EUR/USD pair was unable to hold on to gains and cl...

22:23 22 March /2017 Forex

White House: There are no plans to pull healthcare bill - RTRS

White House Press Secretary Sean Spicer conducts the daily briefing.Key Quotes (via Reuters)

21:46 22 March /2017 Forex

Westminster attack: a second police briefing coming up any minute Ross J Burland

Another Police briefing coming up any minute.At least two people have died including a female civilian and a policeman.Was there a second assailant still on the loose? 

21:23 22 March /2017 Forex