Forex

Event calendar

26

JPY’s risk profile is critical - Scotiabank Ross J Burland

Analysts at Scotiabank explained that JPY’s risk profile is critical in this environment of broad-based risk aversion, given its role as a safe haven currency and tendency to strengthen in periods of uncertainty.Key Quotes:"Risk reversals are showing an impressive rise in the premium for protection against near-term strength, and yield spreads have tightened in a JPY-supportive ma...

23:00 06 February /2018 Forex

RBA: Positive yet patient - Wells Fargo Matías Salord

Earlier today, the Reserve Bank of Australia, kept the key rate unchanged at 1.5%. According to analysts from Wells Fargo, the official policy statement following the February meeting revealed a slightly more confident outlook.Key Quotes: “As the RBA has been on hold, and is expected to remain so, this slight shift in tone may be perceived as an incremental move toward a preferenc...

22:46 06 February /2018 Forex

NZD/USD climbs back to 0.7300 ahead of NZ jobs report Matías Salord

The NZD/USD pair rose back above 0.7300 during the American session amid a weaker US dollar and a stabilization in Wall Street. Ahead of the release of the New Zealand employment report, it was trading at 0.7310. During yesterday’s Wall Street crash NZD/USD dropped moderately and bottomed today during the Asian session at 0.7255, the lowest since January 18. The recovery of equity prices and a ret...

22:46 06 February /2018 Forex

USD/CAD: recent rebound likely to prove short-lived - Rabobank Matías Salord

Analysts from Rabobank, forecast USD/CAD to be at 1.23 in 1M and at 1.25 in 3M. They see that the relationship between USD/CAD and interest rate differentials has broken down, but they warn that rate differentials are likely to become a major driver of USD/CAD again as we head into March.Key Quotes: “The correlation between daily percentage changes in USD/CAD and the US-Canada int...

22:46 06 February /2018 Forex

GBP/USD reverses early losses Ani Salama

GBP/USD has managed to recover more than a full cent during the New York session, in tandem with a weaker dollar across the board. After hitting a 2 ½-week low of 1.3835, the pair staged a bounce that has extended to a session peak of 1.3979, still shy of its daily high of 1.3998. At time of writing, the pair is trading at the 1.3975 area, up 0.16%, on track to ...

22:23 06 February /2018 Forex

EUR/USD climbs back to 1.2400 Ani Salama

EUR/USD has moved away from daily lows and climbed back to the 1.2400 area as the dollar’s rally takes a breather.The pair hit a low of 1.2313 earlier on the day and from there rose over 80 pips to a session high of 1.2403 as stocks turned green in Wall Street. At time of writing, EUR/USD is trading at the 1.2390 area, 0.2% above its opening price.On the data fr...

21:23 06 February /2018 Forex

Gold bulls trapped as price looks to $1,324 levels Ross J Burland

Gold prices have declined further as the US session continues to favour the greenback as US yeilds continue to climb. Spot gold is currently at 1327.67 with a low of 1326.01 from a high of 1346.29.Gold is going to be an interesting commodity to monitor this week given the correlation it has with the dollar and the stock market. It did not p...

21:00 06 February /2018 Forex

AUD/USD recovers from 1-month lows Ani Salama

The Australian dollar managed reverse daily losses against the greenback after hitting fresh 1-month lows, weighed by the risk-off environment.However, after bottoming out at 0.7834, lowest since Jan 10, AUD/USD moved slightly higher and turned positive for the day. At time of writing, the pair is trading at 0.7883, 0.10% above its opening price.In the absence of...

20:46 06 February /2018 Forex

EUR/JPY correction running out of steam around 200 4hr SMA? Ross J Burland

EUR/JPY is consolidating the bid in the yen that has picked dup safe-haven demand in recent sessions. Currently, EUR/JPY is trading at 135.21, down -0.08% on the day, having posted a daily high at 135.82 and low at 133.98.EUR/JPY plummeted yesterday when the DJIA was down some 1,500 points at one stage in panic selling as the correction extends and was closing around 1,175 points lower. (DJIA fini...

20:46 06 February /2018 Forex

USD/JPY recovery capped by 109.70, following US stocks Matías Salord

The recovery of USD/JPY from 1-week lows was capped below 109.70. The move to the upside lost strength as equity prices failed to extend the recovery. The pair is following US stock indexes with a high correlation. Dow Jones futures bottomed earlier today at 23,120 about the same time when USD/JPY hit 108....

20:23 06 February /2018 Forex

USD/CHF finds resistance at 0.9400 and retreats, still holds a bullish tone Matías Salord

The USD/CHF pair continues to move with an upside bias supported by a stronger US dollar the board on the back of Wall Street sell-off. The Swiss franc appreciated only momentarily during yesterday’s crash and today erased all those gains. The risk aversion scenario did not favor the CHF like other times. Yesterday the pair dropped from 0.9375 and found support a...

19:46 06 February /2018 Forex

Atlanta Fed GDPNow revises model from 5.4% to 4% Q1GDP Ross J Burland

The Atlanta Fed GDPNow estimate for 1Q GDP has fallen to 4.0% from 5.4% at the last reading.  The dollar took a little hit on this with the DXY down to 89.858 within a  range of 89.373 - 90.034 and some of the G10's recovering a little vs the greenback. Currently:  

19:23 06 February /2018 Forex

Fed's Bullard: Fed doesn't need to do much now on interest rates Ross J Burland

Fed's Bullard noting the recent correction on Wall Street argued that it was predictable and remains dovish.Bullard added: 

19:00 06 February /2018 Forex

GBP/USD: bears in control looking to close below 1.3850 Ross J Burland

On the back of domestic political risks and the increased likelihood of higher US rates, GBP/USD has been trading below the 1.39 handle in a continuation of the liquidation of longs from above 1.4200 and is currently trading at 1.3868, down -0.69% on the day, having posted a daily high at 1.4002 and low at 1.3836.PM May's...

19:00 06 February /2018 Forex

EUR/USD attention to 1.2335 – Scotiabank Pablo Piovano

FX Strategists at Scotiabank noted the relevance of the key support in the 1.2330 area.Key Quotes“Solid German factory orders data (+3.8% in Dec m/m) may have helped underpin the EUR somewhat through the European trading although Eurozone retail PMI data were a little on the soft side. German coalition talks are progressing and positive news on the formation of...

18:23 06 February /2018 Forex

Gold tumbles to lows, weighed down by notable USD demand Haresh Menghani

   •  Resurgent USD offset risk-off environment.
   •  Long-unwinding adds to the selling pressure.Gold came under some intense selling pressure during the early NA session and tumbled to session lows, eroding a major part of previous session's up-move.Despite a selloff in global equity markets, which tends to underpin demand for traditional safe-...

17:23 06 February /2018 Forex

EUR/USD weaker, closer to 1.2300 Pablo Piovano

The selling pressure around the European currency remains well and sound on Tuesday and is now forcing EUR/USD to break below the critical 1.2330 support area.EUR/USD offered on strong USDThe demand for the US Dollar keeps gaining ground during the first half of the week an...

17:23 06 February /2018 Forex

Fed’s Bullard: Inflation expectations have grown but remain a bit low Haresh Menghani

In a scheduled appearance at the 29th Annual Economic Outlook Conference, Gatton College of Business and Economics, University of Kentucky, Lexington, Ky., St. Louis Fed President James Bullard said:
 
   •  Today’s monetary policy is closer to neutral
   •  Inflation expectations have grown but ‘remain a bit low’
   •  To watch inves...

17:00 06 February /2018 Forex

USD: Staying calm? - Rabobank Sandeep Kanihama

It is glaringly obvious from the tumbles in stock markets that the market is currently re-evaluating the risk of inflation and the outlook for financing costs, according to Jane Foley, Senior FX Strategist at Rabobank.  Key Quotes“If inflation were to raise its ugly head in the US, this would clearly have ramifications for Fed policy and the value of the USD.  That said, there is ...

16:46 06 February /2018 Forex

USD/CAD in fresh 4-week tops around 1.2570 Pablo Piovano

The greenback remains on the positive footing vs. its Canadian neighbor during the first half of the week and is now pushing USD/CAD to the area of 1.2570, or fresh multi-week peaks.USD/CAD bolstered by USD-buyingSpot is up for the third consecutive session today, extending the rebound to fresh 4-week peaks ...

16:46 06 February /2018 Forex