Forex

Event calendar

21

GBP/JPY - Above 150.00 and at 4-week high Omkar Godbole

GBP/JPY moved above 150.00 yesterday and has extended the rally to a 4-week high of 150.83 on Brexit optimism.Markets started pricing in Brexit optimism after Ireland’s EU Commissioner Phil Hogan said that he expects "movement" on the issue of the Irish border in the next few days, which has been a sticking point.Meanwhile, the uptick in the treasury yields is k...

05:23 30 November /2017 Forex

BoJ’s Harada: Yen is stable at about 110 Yen to USD since QQE started Dhwani Mehta

More comments crossing the wires from the BOJ board member Harada, noted under:The yen is stable at about 110 yen to USD since QQE started.Should raise rates only when it confirms there is sufficient momentum in the economy for inflation to hit 2%.Japan's economy imp...

05:00 30 November /2017 Forex

BoJ’s Harada: Wages, prices will both increase if BoJ continues current monetary policy Dhwani Mehta

Reuters is out with the latest remarks from the Bank of Japan (BoJ) board member Yutaka Harada, as he expresses his view on the central bank’s monetary policy programme.Key Headlines:Wages, prices will both increase if BoJ continues the current monetary policy.BoJ will scale back the degree of monetary easing if momentum in inflation big enough.Banks are facing di...

04:46 30 November /2017 Forex

AU-US 10Y spread at 17-year low, AUD no longer a high yielding currency? Omkar Godbole

The spread currently stands at 13.5 basis points (bps); the narrowest since June 2000. It means the 10-year Australia bond yield offers 13.5 basis points more than its US counterpart.Monthly chart04:46 30 November /2017 Forex

China's Manuf PMI improves, highest since Sept

China's manufacturing PMI for November came at 51.8 vs 51.4 exp and 54.6 prev, the highest reading since Sept, when the number printed 52.4. Meanwhile, China's non-manufacturing PMI was up to 54.8 in November from previous 54.3.In terms of the components for the PMI series, new orders came at 53.6 vs 52.9 prev, employment stood at 48.8 vs 49.0 prev, output was 54.3 vs 53.4 prev, supplier delivery ...

04:23 30 November /2017 Forex

AUD/JPY peeps above 1H 200-MA on upbeat China PMI

The bid tone around the Aussie dollar strengthened, pushing the AUD/JPY above the 1-hour 200-MA level of 84.80 and to the fresh session high of 84.98 levels after China Nov. manufacturing PMI printed at 51.8, beating the estimated drop to 51.4 from the previous f...

04:23 30 November /2017 Forex

Australia's CAPEX: Q3 rises 1%, estimate for 2017/18 higher

Australia's third quarter capex (private capital expenditure), came in at 1 percent quarter-on-quarter as expected, but slightly below the previous figure of 1.1 percent. The investment in equipment, plant and machinery in the third quarter rose 0.7 percent quarter-on-quarter.  The first estimate of 2017/18 capex printed at $108,922m. September key pointsA...

03:46 30 November /2017 Forex

AUD/USD u-turns on CAPEX inline but below revised prior readings

AUD/USD had extended he minor recovery from 0.7551 lows on the CAPEX data that was released in line with expectations but better than previous 0.8%, although that was revised today to 1.1% while today's data will be subject to possible adjustments next time around. However, offers emerged and took the Aussie lower aga...

03:46 30 November /2017 Forex

NZD/USD drops to 6-day low on horrible NZ business confidence number Omkar Godbole

Kiwi fell to a six-day low of 0.6845 a few minutes ago after the ANZ business confidence came in at 39.3 for Oct. vs -10.1 last month. The activity outlook index also retreated sharply to 6.5 vs. 22.2 last month.The data show businesses who expect general conditions to get worse in the coming year, outnumber those who expect to see an improvement.The sharp deterioration in confidence figures could...

03:46 30 November /2017 Forex

USD/JPY losing grip on the 112 handle in Tokyo open Ross J Burland

USD/JPY is neutral/bearish in the Tokyo open as things are about to get busy in FX again with Aussie CAPEX and Chinese data on the cards, while a hit in Kiwi on a shocking business confidence number is providing some action in Asia as well. Currently, USD/JPY is trading at 112.01, up 0.13% on the day, having posted a...

03:23 30 November /2017 Forex

Tax reform bill likely to pass Senate this week - Nomura Ross J Burland

Analysts at Nomura explained that the lack of hard “no” votes increases the likelihood of passage.Key Quotes:"Many wavering Republican senators agreed to proceed to debate, indicating that passage in the Senate is now more likely than not, reflecting a number of last-minute changes made to assuage specific senators’ concerns. However, significant questions need to be answered befo...

03:23 30 November /2017 Forex

Volatility is returning - ANZ Ross J Burland

Analysts at ANZ noted that volatility is returning to markets, with tech stocks selling off and global bond yields rising. Key Quotes:"The USD was mixed and commodities fell. Treasuries declined on the back of a spike in UK yields (on yesterday’s Brexit headlines) coupled with stronger US data and an upbeat Fed. The yield on the US 10-year is currently up 5bps to 2.38%. The S&...

03:00 30 November /2017 Forex

When is Aussie CAPEX and how might it affect AUD/USD? Ross J Burland

Australia releases its latest update on business investment today at 00.30GMT with the release of private-sector capital expenditure (CAPEX) data for the September quarter.Traders will be scoping out the details within this report for an insight into investment from parts of Australia’s private sector. While the details will include past investments, there will also be insights as to where it’s li...

02:46 30 November /2017 Forex

Britain close to Irish border deal - The Times

Following a week so far of Brexit headlines that have been for the best part highly supportive of Sterling's bid and positive in general, The Times newspaper has reported that Britain is close to an Irish border deal with officials on both sides predict agreement within weeks.

02:23 30 November /2017 Forex

Oil: we await confirmation of an OPEC deal extension - ANZ Ross J Burland

Analysts at ANZ noted that oil prices fell as investors continue to await confirmation of an OPEC deal extension. Key Quotes:"With a steady stream of headlines confusing investors, prices driftedlower. The reports do suggest that an extension is likely; however the devil’s in the detail, with Russia still not expressing publically that it is fully behind any deal. Russian Energy M...

02:00 30 November /2017 Forex

US PCE preview - Nomura

Analysts at Nomura offered their outlook for the PCE deflators.Key Quotes:"We forecast a 0.2% (0.179%) m-o-m increase in October core PCE inflation (Consensus: 0.2%), which would push up the 12-month change rate to 1.4% (1.389%), from 1.328% in September (Consensus: 1.4%). Considering the strong increase in core CPI and the unexpected strength of healthcare related prices of PPI i...

01:46 30 November /2017 Forex

Forex today: should the dollar be higher? Ross J Burland

Forex today was less volatile than Tuesday and instead, markets took a conservative approach to the data releases from the US.US GDP beat estimates and Yellen was hawkish yet the dollar was unable to really take off and instead, US yields did all of the work. In fact, DXY ended flat within a range of 92.992 - 93.435, opening 93.212 vs a previous close of 93.270. US yields were closing around 2.388...

01:46 30 November /2017 Forex

ECB's Knot: Current inflation outlook poses no threat to price stability Eren Sengezer

ECB policymaker Klaas Knot was out on the wires in the last hour, arguing that the current inflation outlook would not pose any threat to the price stability.Key quotes (via Reuters)

01:00 30 November /2017 Forex

Wall Street: Dow Jones hits record high, Nasdaq drops sharply Eren Sengezer

On Wednesday, major equity indexes in the U.S. painted a mixed picture, with Dow Jones Industrial Average surging to fresh all-time highs and the Nasdaq Composite recording its biggest daily percentage loss in more than three months. Solid macroeconomic data from the United States, heightened expectations of a hawkish s...

00:46 30 November /2017 Forex

Crypto Today: Bitcoin slumps below $10K

The BTC/USD pair came under a heavy selling pressure in the US afternoon and refreshed its three-day low at $9000 as it lost over $2000 in one hour. This sharp fall seems to be an over-due technical correction as no fundamental catalysts were present. After today's record-setting rally, all the mom...

00:23 30 November /2017 Forex