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Event calendar


Leveraged funds’ long GBP came close to one-year high – Nomura Sandeep Kanihama

In the week ended 21 November, leveraged funds' net short positioning in GBP increased to 26% from 22% the previous week, points out the research team at Nomura.Key Quotes“A one-year high of 29% was recorded in early October. In contrast, asset managers’ net short GBP positioning decreased to 63% from 65%.”“NZD: Leveraged funds decreased net short NZD positions to...

10:46 29 November /2017 Forex

GBP/USD cracks 1.3400, fresh 9-week tops

After a brief period of consolidation, the GBP/USD pair caught fresh bid-wave and broke higher to regain 1.34 handle, but sellers continue to lurk above the last, keeping further upside limited.GBP/USD takes-out 1.3400, what’s next?The spot regained poise and went on to hit the highest leve...

10:24 29 November /2017 Forex

German inflation data amongst market movers today – Danske Bank

Analysts at Danske Bank suggest that today is slightly more interesting than the past two days with inflation data out of Germany and Spain ahead of the euro inflation release tomorrow.Key Quotes“In Europe, we also get consumer and business confidence indicators across countries today. In the US, the second estimate of GDP growth in Q3 is due out and the Fed is due to release its ...

10:23 29 November /2017 Forex

EUR/USD upside should hold around 1.2090 – Danske Bank

Mathias Mogensen, Analyst at Danske Bank, assessed the prospects for the pair as well as today’s docket.Key QuotesEUR/USD edged slightly lower yesterday with little news to drive the cross as Jerome Powell’s confirmation hearing in the Senate as expected did not bring much news apart from suggesting the new...

10:23 29 November /2017 Forex

EUR/USD scope for a retracement to 1.1806 – Commerzbank Pablo Piovano

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair is now attempting some consolidation and could retest the 1.1800 region.Key QuotesEUR/USD has stalled just ahead of the 78.6% retracement at 1.1976 and is consolidating very near term. We would allow for a small retracement tow...

10:23 29 November /2017 Forex

EURUSD moves higher to 1.1860, session tops Pablo Piovano

The single currency has resumed the upside on Wednesday and is now helping EUR/USD to advance to the area of daily highs around 1.1860.EUR/USD focused on German data, YellenSpot managed to revert weekly lows in the 1.1830 region seen on Tuesday as the greenback appears somewhat offered ahead of the opening b...

10:23 29 November /2017 Forex

BOE’s Cunliffe: Inflation pressure due to weakened GBP

More comments crossing the wires from the BOE policymaker Cunliffe, delivered during his interview with BBC Radio 4:The UK economy’s potential growth has come down.Domestic cost pressure hasn’t increased yet.Inflation pressure due to weakened GBP.Pay growth remains a concern.Bitcoin, not an o...

10:00 29 November /2017 Forex

NZD/AUD: Corrective rebound towards the 0.92 area? - Westpac

The NZD/AUD cross’s corrective rebound targets the 0.92 area during the weeks ahead, suggests Imre Speizer, Research Analyst at Westpac.Key Quotes“The NZ-AU interest rates spread has been moving in the NZD’s favour recently (although commodity spreads have favoured the AUD). The event calendar this week contains the Q3 CAPEX report, while the highlight during the week ahead will b...

09:46 29 November /2017 Forex

Oil remains weak on the bearish API report Omkar Godbole

WTI oil hit a 4-day low of $57.43 yesterday and remains on the back foot at $57.65 levels today, courtesy of the bearish American Petroleum Institute (API) report.It reported a build of 1.821 million barrels of United States crude oil inventories for the week ending November 24 compared to analyst forecasts for an inventory drawdown of 09:46 29 November /2017 Forex

Japan: Will 2018 be the exit year for the BOJ? - Nomura Sandeep Kanihama

As occurred in late 2005, market interest in the BOJ’s exit strategy from its easing policy is now rising, amid the favourable macro environment, according to analysts at Nomura. Key Quotes“The LDP won another landslide victory in October, and foreign equity inflows into Japan have been strong. The ECB announced further tapering of its QE programme and the BoE hiked for the first ...

09:46 29 November /2017 Forex

Germany: Upside risks for headline inflation of 1.7% - TDS

Analysts at TDS point out that Germany’s preliminary November inflation report is released, after last month’s inflation data surprised to the downside across much of Europe on account of weaker-than-expected petrol prices, despite recent gains in crude oil prices.Key QuotesWe look for catch-up in November’s inflation figures, and at 1.8% y/y, we see upside risks...

09:23 29 November /2017 Forex

BOE's Cunliffe - Bitcoin is not a threat to global economy Omkar Godbole

Comments from Bank of England's (BOE) Cunliffe are crossing the wires via Reuters- 

09:23 29 November /2017 Forex

USD/JPY struggles to recover back above 200-DMA Haresh Menghani

   •  Renewed geopolitical tension does little to revive safe-haven demand. 
   •  Weaker Japanese retail sales data weighing further on JPY.
   •  Sliding US bond yields fails to provide any bullish impetus.
   •  Focus shifts to US GDP revision and Yellen’s testimony.The USD/JPY pair built on previous session's recovery move from 2-1/...

09:23 29 November /2017 Forex

NZD/USD: Corrective rebound expected - Westpac

NZD/USD made a three-year low at 0.6780 last week, the ensuing bounce looking likely to extend to at least 0.6980 (the early Nov high), according to Imre Speizer, Research Analyst at Westpac.Key Quotes“NZD/USD is undervalued, and speculators are very short NZD. The NZ data calendar during the week ahead contains ANZ business confidence, terms of trade, QV house prices and GDP part...

09:00 29 November /2017 Forex

RBNZ ease LVR restrictions – TDS Sandeep Kanihama

The twice yearly RBNZ Financial Stability Review saw  the RBNZ ease LVR restrictions, effective 1 January 2018 and comes on the back of easing in house prices, explains the research team at TDS.Key Quotes“The adjustments would allow banks to make more low-deposit loans to owner occupiers (mortgage lending to owner occupiers with LVRs of more than 80% to increase from 10% to 15% of...

09:00 29 November /2017 Forex

AUD/USD demoralized by bearish iron ore forecasts, trendline hurdle intact Omkar Godbole

The forward motion in the AUD/USD pair ran out of steam at a session high of 0.7608 possibly due to Goldman Sach's bearish iron ore price forecasts.The investment bank expects the iron ore prices to fall back to $50 levels in one y...

09:00 29 November /2017 Forex

Fitch: New Zealand housing risk unlikely to rise on easing of curbs

The US-based ratings agency said in its latest report published on Wednesday, “the Reserve Bank of New Zealand's (RBNZ) plan to ease some of its macro-prudential measures in the mortgage market is unlikely to reverse the cooling of the housing market or meaningfully increase banks' exposure to hou...

08:46 29 November /2017 Forex

AUD/CAD should grind lower – Westpac

Sean Callow, Research Analyst at Westpac, points out that AUD/CAD has been trending lower since printing 2017 highs above 1.03 in May and the Bank of Canada has raised its policy rate twice in this time.Key Quotes“While the BoC appears not to be in a hurry to tighten again, the contrast with the ultra-steady RBA should help keep a lid on any AUD/CAD rallies. So long as markets are...

08:46 29 November /2017 Forex

Canadian ForeignMin: Meeting on N. Korea crisis to be in Canada after Christmas - RTRS Dhwani Mehta

Canada's Foreign Minister Chrystia Freeland announced on Wednesday that a planned meeting of foreign ministers to discuss the North Korean crisis will be scheduled to take place after the Christmas break in late December, Reuters reports.Freel...

08:46 29 November /2017 Forex

Forex Today: Bitcoin through $ 10k, N. Korea again, a busy calendar ahead

Forex today witnessed a quiet Asian session, with most majors sticking to tight trading ranges, as the dust settled over yesterday’s volatile session. The US dollar traded broadly subdued, consolidating the recent upsurge on the US tax progress, while the Yen was offered on the back of downbeat Japanese retail sales data. The Antipodeans traded with mild losses, as traders digested the comments fr...

08:23 29 November /2017 Forex