Forex

Event calendar

12

EUR/USD risk reversals adopt a bearish bias Omkar Godbole

The EUR/USD one-month 25 delta risk reversals fell to -0.05 yesterday, indicating increased demand for the bearish bets (Puts) on the common currency.Risk reversals05:00 12 December /2017 Forex

Saudis to slash oil exports to Asia by 100,000 Bpd Omkar Godbole

The Saudi Energy Ministry said on Monday that it cut its crude oil exports to Asia by more than 100,000 barrels per day (bpd) in January compared to December, but will keep its exports to Europe and the U.S. unchanged. “We hope that by leading by example, our partners from OPEC and non-OPEC will do the same in order to keep conformity levels above 100 percent and accelerate the rebalancing of the ...

04:23 12 December /2017 Forex

USD/JPY testing MA supporting cluster, firm above 113.50 Ross J Burland

USD/JPY rose from 113.24 to 113.69 the high overnight in risk-on NY and, currently, USD/JPY is trading at 113.57, up 0.02% on the day, having posted a daily high at 113.59 and low at 113.49.The mood for risk continues in Tokyo and the yen is struggling in this environment ahead of the FOMC's expected rate hike later ...

04:23 12 December /2017 Forex

AUD/USD drops to 1H 50-MA on weak Aussie data Omkar Godbole

The AUD/USD pair dropped to 1-hour 50-MA level of 0.7519 after the data released in Australia showed the house price index dropped 0.20 percent q/q in the third quarter vs. expected print of 0.5 percent.Meanwhile, the National Aus...

04:00 12 December /2017 Forex

NAB business conditions drop, tentative signs of wage growth

The National Australia Bank's (NAB) business confidence index fell 9 points to +12 index points in November but is still well above the long-run average of +5. Meanwhile, business confidence is retreated from +9 (last month) to +6 in November. There has been a notable downward trend in the series since around the middle of the year.According to Alan Oster, NAB Group Chief Economist, “we expected t...

03:46 12 December /2017 Forex

RBNZ: how will new Governor interpret the intended "dual mandate" - Westpac Ross J Burland

Analysts at Westpac noted that Adrian Orr was appointed Governor of the Reserve Bank of New Zealand, and will begin his five-year term on March 27. Key Quotes:"We would describe this as a balanced choice. Adrian is currently Chief Executive Officer of the New Zealand Superannuation Fund. He has done two previous stints at the Reserve Bank - from 1997 to 2000 he was Head of the Eco...

03:00 12 December /2017 Forex

Key events this week? - ANZ Ross J Burland

Analysts at ANZ explained that on Wednesday, the Fed is expected to hike the fed funds rate. Key Quotes:"On Thursday, the ECB should unveil details of its QE tapering plan.The Bank of England and the Swiss National Bank also meet.""Add to that the EU Summit, some key data releases (i.e. US CPI, retail sales), ongoing headlines about Trump’s tax plans, NAFTA negotiations and no dou...

02:46 12 December /2017 Forex

Forex today: VIX closing the lowest in a month head of FOMC this week, dollar slides Ross J Burland

Forex today allowed for a slide in the greenback as we approach the FOMC this week where much of the upside in the dollar was priced in on the basis of a 25bps hike and three more in 2018. In the absence of fresh impetus besides the JOLTS job openings arriving at 5.996m vs 6.090m consensus, the DXY was down 0.03% at the time of writing at 93.87 having traded between 93.666 - 93.918 on the day as m...

02:23 12 December /2017 Forex

AUD/USD oscilates arounf NY session lows, awaits data in Tokyo Ross J Burland

AUD/USD has been stabilising the NY supply and is currently, AUD/USD is trading at 0.7527, down -0.03% on the day, having posted a daily high at 0.7531 and low at 0.7525.AUD/USD opened the NY session on the bid and advancing the European session's highs until 0.7545 before offers emerged on a firm dollar where the Au...

02:23 12 December /2017 Forex

NZD/USD awaits NZ governments fiscal update - ANZ Ross J Burland

Analysts at ANZ explained that the Kiwi received a boost yesterday as Adrian Orr was named as the new Reserve Bank Governor. Key Quotes:"Topside resistance is expected to hold today with a break outside recent ranges only likely as volatility picks-up around key central bank meetings and NZ governments fiscal update.""Support 0.6820 Resistance 0.6920." 

01:46 12 December /2017 Forex

JOLTS: decreased 181k in October to 5996k - Nomura Ross J Burland

Analysts at Nomura noted that the BLS reported that job openings decreased 181k in October to 5996k, a still-elevated level. Key Quotes:"September’s job openings were revised up 84k to 6177k (previously reported as 6093k). Looking at the details, accommodation & food services vacancies rebounded after a soft, likely weather-related September. However, wholesale trade job openi...

01:00 12 December /2017 Forex

DJIA, S&P closed at records as Fed's meeting looms Valeria Bednarik

Following a dull start to the day, US indexes picked up at the end of the day, with the Dow Jones and the S&P posting record closes at 24,386.10 and 2,659.99 respectively. The Nasdaq Composite was the best performer, up 0.51% on the day to end at 6,875.08 amid a continued recovery in the tech sector, but remained below its previous record close. There was no clear catalyst behind the late adva...

00:46 12 December /2017 Forex

A cup of tea and a Brexit - ANZ Ross J Burland

Analysts at ANZ explained that Brexit commentary will be closely watched this week as UK Ministers made comments suggesting they weren’t 100% committed to the promises made last week to secure a deal, especially as regards the vexed question of the Irish border. Key Quotes:"In particular, Brexit Secretary David Davis commented that the deal “was much more a statement of intent tha...

00:46 12 December /2017 Forex

Brexit concerns are weighing on the pound - Scotiabank Ross J Burland

Analysts at Scotiabank noted that Gilts are firmer and the pound is lower on the day as market concerns regarding Brexit overshadow the apparent progress made last week. Key Quotes:"Brexit Minister Davis appeared to soft-pedal the agreements reached with EU negotiators, suggesting they represented as “statement of intent” rather than a legally enforceable deal.""He later remarked ...

23:23 11 December /2017 Forex

Gold drops to fresh 4-month lows, tests $1240 Matías Salord

The yellow metal accelerated the decline during the US session and recently broke below last week lows and bottomed at $1,240.80/oz, the lowest level since July 20. The slide below last week lows took place during a quiet US session. The greenback rose moderately as US yields moved off daily lows. The 10-year yield is back at 2.38% after falling earlier to 2.355%. The US Dollar Index was flat for ...

23:00 11 December /2017 Forex

EUR/USD correction from highs are shallow to 1.1780 support, where next? Ross J Burland

EUR/USD is basing after a correction of its latest highs and is currently trading at 1.1792, up 0.23% on the day, having posted a daily high at 1.1812 and low at 1.1762.In the absence o fresh impetus ahead of this week's ECD and FOMC meetings, EUR/USD has been riding on negative flows in the dollar on Monday after recording...

23:00 11 December /2017 Forex

TRY: Stabilization at current levels before resuming appreciation - Wells Fargo

Analysts from Wells Fargo, look for the Turkish lira to stabilize around its current levels before eventually resuming its appreciation against the dollar amid generalized greenback weakness. Key Quotes: "Real GDP growth in Turkey was 11.1 percent year-ago in Q3. The military coup that occurred in Turkey last summer, which disrupted economic activity, created a low base for the ye...

21:46 11 December /2017 Forex

GBP/USD drops to fresh session lows as DXY edges higher toward 94

After rising above the 1.34 handle earlier today, the GBP/USD pair lost its traction and lost nearly 100-pips from its daily high as today's headlines surrounding Brexit negotiations made it difficult for the GBP to show resilience against its rivals.  Having touched a fresh session low at 1.3330, the GBP/USD is now trading ...

21:46 11 December /2017 Forex

Crypto Today: Bitcoin gains traction as futures trading kicks off

Bitcoin came under a heavy selling pressure over the weekend as investors took their profits off the table before the CBOE launched its futures trading on Monday. The BTC/USD pair dropped more than $3000 on Saturday and Sunday but was able to reverse its course on Monday. According to the latest available data on coinmarketcap.com, the BTC/USD was trading at $16,552.50, gaining nearly 7% on the da...

21:23 11 December /2017 Forex

NAFTA: Risks of failure rise - BBH

Analysts from Brown Brother Harriman, think that the risk is growing that the attempt to renegotiate NAFTA fails. They noted that Canada has indicated it is willing to consider a bilateral agreement, but they we suspect that while the process may begin, it will unlikely conclude before 2020.  Key Quotes: “Initially, there was hope that the agreement could be struck by the end of t...

20:23 11 December /2017 Forex