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Canada: CPI rises 0.1% in September, up 1.3% YoY Ani Salama

  US consumer price index rose 0.1% in September, Statistics Canada said Friday. Core CPI, which excludes volatile components such as some food and energy prices, increased 0.2% following a flat reading in August.   September’s  CPI rose 1.3% from a year earlier, following a 1.1% increase in August but below ...

16:00 21 October /2016 Forex

Euro area growth modest, political risk rising - ANZ Sandeep Kanihama

Brian Martin, Head of Global Economics at ANZ, suggests that whilst domestic demand growth has been propping up the euro area recovery, growth is very uneven.Key Quotes“As Europe enters an intense election cycle next year with unemployment high, income growth negligible, and opposition to deeper EU integration rife, the backdrop favours the USD for the time being. Italy, which has...

16:00 21 October /2016 Forex

USD/CAD through 1.3300 post-data, fresh tops Pablo Piovano

The Canadian dollar is now depreciating at a faster pace vs. its American neighbour, lifting USD/CAD fresh tops above 1.3300 the figure.USD/CAD higher on CAD dataSpot is now printing fresh multi-month tops near 1.3320 after Canadian inflation figures and retail sales have come in short of expectations today.In fact,...

16:00 21 October /2016 Forex

EUR/USD slides further below 1.0900, hits fresh multi-month lows

Thursday' ECB monetary policy announcement continues to undermine the shared currency, with the EUR/USD pair now extending its slide further below 1.0900 handle.Currently trading near a fresh seven-month low, around 1.0880-85 region, the pair remained under pressure after Thursday's comments from ECB President Mario Draghi revealed that the centr...

15:46 21 October /2016 Forex

GBP/USD selling intensifies, breaks below 1.2200 handle

Extending its reversal from Wednesday's weekly high, the GBP/USD pair has now dropped below Thursday's swing low and broke through 1.2200 handle to hit a three day low. Currently trading at a fresh session through around 1.2180 area, the pair traded in negative territory for the third straight session. In absence of any major market moving econom...

15:23 21 October /2016 Forex

US growth outlook improves – ANZ Sandeep Kanihama

Brian Martin, Head of Global Economics at ANZ, suggests that the prospect for divergent monetary policies returning to reassert themselves as a material influence on EUR/USD seems greater in the coming months than it has been this year.Key Quotes“As the US labour market tightens, the prospect of a recovery in business investment is rising as firms substitute capital for wages and ...

15:23 21 October /2016 Forex

Gold: Physical market improving – HSBC Sandeep Kanihama

James Steel, Chief Precious Metals Analyst at HSBC, suggests that the gold market may look to Fed policy for near-term direction in light of Mr. Dudley’s comments, the ECB’s decision to leave rates unchanged, and Mr. Draghi’s confirmation that he will wait until December to decide whether to proceed with the EUR80bn asset purchase program formulated earlier this year.Key Quotes“If...

15:23 21 October /2016 Forex

EUR/USD keeps the negative stance near term – Scotiabank Pablo Piovano

Shaun Osborne, Chief FX Strategist at Scotiabank, has reiterated the pair’s negative perspective in the short-term.Key QuotesEURUSD managed a brief pop higher yesterday but gains barely extended through the low 1.10 area before the underlying bear tone reasserted itself”.“Renewed losses today below 1.0915 put spot ...

15:23 21 October /2016 Forex

USD/RUB bounces off lows, retakes 62.40 Pablo Piovano

The Russian currency is now giving away part of its earlier gains vs. the greenback, sending USD/RUB back to the 62.40 region.USD/RUB finds support near 62.30/25Crude oil prices are recovering some ground after yesterday’s retracement, with the barrel of Brent crude approaching the $52.00 mark and thus lending suppo...

15:23 21 October /2016 Forex

USD/JPY hits fresh session low amid cautious trade Haresh Menghani

The USD/JPY pair extended its reversal from session peak level of 104.20 and has now dropped to a fresh session low amid prevalent risk-off mood.Currently trading around 103.70-65 region, the pair reversed part of Thursday's strong gain and once again failed to sustain its strength above 104.00 handle. Friday's news of a powerful earthquake hitti...

15:23 21 October /2016 Forex

US: Policy dynamics, Clinton favours USD – ANZ Sandeep Kanihama

Research Team at ANZ, suggests that against the outlook for gradually higher rates from the Fed as US inflation is returning towards trend, ANZ continue to favour EUR/USD downside.Key Quotes“The markets may want to await the outcome of the US Presidential Election on 8 November before getting excited about the USD’s upside. But price action would imply that the dollar is respondin...

15:00 21 October /2016 Forex

CAD: Data risk will intensify with the release of retail sales and CPI reports – RBC CM Sandeep Kanihama

Research Team at RBC Capital Markets, suggests that the data risk for CAD will intensify to end the week with the release of the CA August retail sales and September CPI reports.Key Quotes“RBC is forecasting a below-consensus print of -0.1%m/m for headline retail sales (cons. 0.3%), as a drop in August unit auto sales is projected to send sales at motor vehicle dealerships down 1....

15:00 21 October /2016 Forex

EUR/USD treading water around 1.0900 Pablo Piovano

EUR/USD remains entrenched in the negative territory at the end of the week, meandering the 1.0890/1.0900 area amidst rising sentiment around USD.EUR/USD attention on dollar, EMU dataThe pair is retreating for the third consecutive week so far and trading in levels last seen back in March around 1.0880/90, opening ...

15:00 21 October /2016 Forex

Canada: Retail sales expected to decline by 0.1% m/m in August – RBC CM Sandeep Kanihama

Research Team at RBC Capital Markets, sees Canada’s retail sales registering a 0.1% m/m decline in August, equaling the July result.Key Quotes“Indications are that unit auto sales fell 1.2% m/m, while gasoline station receipts should be up a modest 0.2% m/m. Excluding these two items, “core” sales should be up a decent 0.2% m/m, with perhaps some support from Canada Child Benefit ...

14:46 21 October /2016 Forex

ECB: Keeping the powder dry - ANZ Sandeep Kanihama

Research Team at ANZ, notes that there were no changes in policy from the ECB overnight and little guidance given away in the press conference either, but this didn’t stop markets from engaging in some fun and games anyway.Key Quotes“Markets being markets initially reacted to what Draghi didn’t convey − namely extending stimulus = euro up. However, markets soon sifted amongst the ...

14:46 21 October /2016 Forex

USD/CAD inter-markets: seems all set to reclaim 1.3300 handle Haresh Menghani

The greenback continued gaining traction on Friday and is helping the USD/CAD pair to extend its bullish momentum for the third straight session to a six-day high level around mid-1.3200s. The pair's latest leg of up-move has been primarily driven by broad based greenback strength, as measured by the overall 14:46 21 October /2016 Forex

Canada: Expects a 0.2% m/m gain in headline CPI – RBC CM

Research Team at RBC Capital Markets, expects a 0.2% m/m gain in Canada’s headline CPI, alongside a 0.3% m/m gain in core CPI.Key Quotes“Seasonal increases in educational services (tuition) and clothing prices in the 2.8–3% range will contribute to the gains, while a ~2% decline in travel services prices should provide a partial offset. Indications are that gasoline prices were up...

14:23 21 October /2016 Forex

ECB: Key decision pushed out to December – Nomura

Research Team at Nomura, notes that at its recent Governing Council meeting, the ECB kept all policy rates unchanged, maintaining the pace of monthly PSPP purchases until at least March 2017 or beyond, if necessary.Key Quotes“Furthermore, the Governing Council discussed neither an extension nor programme exit strategies, including tapering, and provided no insight into the potenti...

14:23 21 October /2016 Forex

USD/CHF clings to strong gains near multi-month highs

Having risen to the highest level since March, the USD/CHF pair trimmed some of its strong gains and is now seen digesting the break-out momentum 0.9900 handle.Currently trading around 0.9940-45 band, higher for the second consecutive session, the pair on Thursday broke through its near-term consolidation phase amid broad based 14:00 21 October /2016 Forex

WTI advancing to daily highs near $50.90

Crude oil prices are recovering part of yesterday’s deep pullback, now lifting the West Texas Intermediate to the boundaries of the $51.00 mark per barrel.WTI focus on data, USDAfter reaching fresh yearly highs in levels just below the $52.00 handle on Thursday, the barrel of WTI triggered a leg lower in response to a strong rebound in the demand for the greenback...

13:46 21 October /2016 Forex