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Event calendar


UK Jan jobs mixed: Claimant count drops unexpectedly, jobless rate climbs Dhwani Mehta

The Office for National Statistics (ONS) noted on Wednesday, the UK’s official jobless rate came in at 4.4% in December, while the claimant count figures surprised positively.The number of people claiming jobless benefits dropped unexpectedly by 7.2k in December, against expectations of a 4.1k increase and 6.2k (revised from 8.6k) seen previously. The claimant count rate also drop...

12:46 21 February /2018 Forex

GBP/USD refreshes session lows, below mid-1.3900s post-UK jobs data Haresh Menghani

   •  UK unemployment rate ticks higher and prompts some selling.
   •  Headline wage growth stayed firm at 2.5% y-o-y but fails to lend support.
   •  BOE inflation hearings/FOMC meeting minutes eyed for fresh impetus.The GBP/USD pair held on to its daily losses and dropped to fresh session l...

12:46 21 February /2018 Forex

Italian EconMin: hope next ECB President will continue Draghi's policy approach - RTRS Haresh Menghani

Italian Economy Minister Pier Carlo Padoan was out on the wires in the last minute, via Reuters, and said:   •  Shouldn't take for granted that next ECB President will be Bundesbank's Weidmann
   •  Hope next ECB president will continue Draghi's policy approach

12:23 21 February /2018 Forex

EUR/USD slides closer to 1.23 handle post-EZ PMIs Haresh Menghani

   •  Stronger USD continues to exert downward pressure.
   •  Weaker EZ PMI adds to the weaker sentiment. 
   •  Focus remains on the FOMC meeting minutes.The EUR/USD pair finally broke out of its Asian session bearish consolidation phase and dropped to fresh one-week lows in the last hour.Against the backdrop of a strong follow-through

12:23 21 February /2018 Forex

EUR/GBP: Hard to rally - SocGen Sandeep Kanihama

As EUR/USD drifts lower, it's hard for EUR/GBP to rally, even if UK data and news are pretty poor, according to Kit Juckes, Research Analyst at Societe Generale.Key Quotes“Still, as the divisions within the Conservative party shine out, and as Jeremy Corbyn's policies are given an airing by more frequent public comments, the o...

12:23 21 February /2018 Forex

US: Difficult to see a structurally weak USD finding joy from Fed - ING Sandeep Kanihama

The FOMC minutes today may curb some of the hype over faster than expected Fed rate hikes – not least given the obvious divisions within the committee over the outlook for the US economy, according to Viraj Patel, Foreign Exchange Strategist at ING.Key Quotes“With the 2-year Treasury yield trading above 2.25%, one could easily argue ...

12:00 21 February /2018 Forex

USD/CHF extra gains likely near term – Commerzbank Pablo Piovano

The recent price action in spot could open the door for further gains in the short term horizon, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.Key QuotesUSD/CHF has eroded the near term downtrend/ top of a wedge pattern, which suggests further short term stren...

12:00 21 February /2018 Forex

EU’s Centeno: Euro area growth should be sustained in coming years Dhwani Mehta

Eurogroup President Mario Centeno was on the wires last minutes, via Reuters, noting that the Euro area growth should be sustained in coming years.Meanwhile, markets look forward to the Eurozone flash manufacturing and services PMI releases due out shortly, especially after dismal French and German manufacturing sector activity reports.E...

12:00 21 February /2018 Forex

GBP: Labour market report will attract some attention – Danske Bank Sandeep Kanihama

Chief Analyst Jens Peter Sørensen at Danske Bank, suggests that for GBP, today’s labour market report will attract some attention as the market is already pricing in 19bp for a rate hike in May, and our call for unchanged wage growth and unemployment (in line with consensus) is not likely to change BoE pricing.Key Quotes“Meanwhile, f...

12:00 21 February /2018 Forex

Market movers for the week ahead – Deutsche Bank Sandeep Kanihama

Outside the results of my scan, today is the biggest day in a quiet week for data and the highlight will be the flash February PMIs with manufacturing, services and composite readings due in Europe and the US, according to analysts at Deutsche Bank.Key Quotes“As a reminder, the January manufacturing reading for the Euro area came in at an impressive 59.6, albeit slightly down from...

11:46 21 February /2018 Forex

GBP: Solid UK data and Brexit agreements hold the key to further significant upside - ING Sandeep Kanihama

Viraj Patel, Foreign Exchange Strategist at ING, suggests that they wouldn't be surprised if investors were genuinely confused over the short-term direction of travel for GBP given the myriad of different narratives and factors driving the currency right now.Key Quotes“Today's eventful UK calendar is only set to ramp up the short-term noise levels. The latest jobs report (0930 GMT...

11:46 21 February /2018 Forex

USD/CAD hits 1-1/2 week tops, inching closer to 1.27 handle Haresh Menghani

   •  USD continues gaining positive traction. 
   •  Weaker oil prices providing an additional boost. 
   •  All eyes remain glued to the FOMC meeting minutes. The USD/CAD pair built on overnight bullish breakthrough 100-day SMA barrier and jumped to 1-1/2 week tops during the early European session on Tuesday.Against the backdrop of a str...

11:23 21 February /2018 Forex

Gold falls to 1-week lows, pressured by stronger USD Haresh Menghani

   •  Strong follow-through USD buying continues to weigh.
   •  Overnight fall in US equities fails to lend any support.
   •  FOMC minutes to provide fresh directional impetus.Gold traded with a mild negative bias through the early European session and is currently placed at one-week lows, around the $1326-25 region. The

11:00 21 February /2018 Forex

EUR: Any corrective move to 1.23 still viewed as temporary - ING Sandeep Kanihama

Viraj Patel, Foreign Exchange Strategist at ING, suggests that the preliminary Feb Eurozone PMI releases will be of particular relevance for the data-sensitive EUR.Key Quotes“Our economists are looking for a partial easing in both the manufacturing (59.1) and services (57.6) readings after having hit cyclical highs in recent months. Still, at these elevated levels, any confirmatio...

11:00 21 February /2018 Forex

NZD/USD: double top on sight? – UOB Pablo Piovano

According to FX Strategists at UOB Group, the pair could be attempting to chart a ‘double top’.Key Quotes“We highlighted on Monday (19 Feb, spot at 0.7385) that while upward momentum has improved considerably, only a “NY closing above 0.7435/40” would indicate the start of a bullish phase”.“10:46 21 February /2018 Forex

EUR/USD rallies seen faltering around 1.2385 – Commerzbank Pablo Piovano

Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes occasional bullish attempts should meet resistance around 1.2385.Key QuotesEUR/USD as we suspected the erosion of the 20 day ma triggered another sell off. Last week the market saw a minor break to a new high, whic...

10:46 21 February /2018 Forex

EUR/GBP further rangebound expected – Danske Bank Pablo Piovano

Chief Analyst at Danske Bank Jens Sorensen suggested the European cross could face further consolidation in the near term.Key Quotes“For GBP,  today’s labour market report will attract some attention. The market is already pricing in 19bp for a rate hike in May, and our call for unchanged wage growth and unemployment (in line with consensus) is not likely to change BoE pricing”.“M...

10:46 21 February /2018 Forex

EUR/USD in red near 1.2330 ahead of PMIs, FOMC Pablo Piovano

The selling pressure around the shared currency remains unabated so far this week, with EUR/USD meandering the lower bound of the recent range around 1.2330 ahead of the opening bell in Euroland.EUR/USD all eyes upon the FOMCSpot is down for the fourth consecutive session on Wednesday, shedding more than two...

10:23 21 February /2018 Forex

USD/JPY retreats from one-week tops, still comfortable above mid-107.00s Haresh Menghani

   •  USD rebound gains strong traction on surging US bond yields.
   •  Slide in the US equities fails to revive JPY’s safe-haven appeal.
   •  Today’s key focus would be on the latest FOMC meeting minutes.The USD/JPY pair continued gaining traction for the fourth consecutive session on Tuesday and jumped to one-week tops, closer to the 10...

10:23 21 February /2018 Forex

NZD/USD: Dollar recovery sending Kiwi lower ahead of FOMC Joshua Gibson

The NZD/USD is still sliding, breaking passed yesterday's low and currently testing into 0.7330 ahead of European markets.It's a data-light week for the Kiwi except for low-tier Retail Sales figures on Thursday, the focus will be on the US Markit PMI Composite due today at 14:45 GMT, followed by the FOMC Minutes at 19:00.The pair is losing ground as rising ...

09:29 21 February /2018 Forex