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Event calendar

24

NZD/USD sitting on key support, eyes 0.73 handle Ross J Burland

Currently, NZD/USD is trading at 0.7230, up 0.03% on the day, having posted a daily high at 0.7234 and low at 0.7228.NZD/USD is consolidated after meeting highs overnight at 0.7246 in an extension of the rally from 0.7140 and through and away from the aligning 20 and 50 smas on the 4-hour sticks. The US dollar index is around 0.2% lower on the ba...

01:46 24 February /2017 Forex

US data reviewed: steady downtrend in Initial jobless claims - Nomura Ross J Burland

Analysts at Nomura offered a review of the Initial jobless claims.Key Quotes:"For the week ending 18 February, initial jobless claims were up 6k to 244k, and the prior week was lowered to 238k from 239k. The 4-week moving average was 241k, down 4k from the previous week's revised average.""The steady downtrend is as expected, and we continue to expect this series to trend downward...

01:23 24 February /2017 Forex

Wall Street was mixed, blue chips making longest run in 30 years

Wall Street was mixed with modest gains in the Dow Jones and the S&P 500 making fresh highs while the NASDAQ dropped back.The Dow Jones Industrial Average was leading with gains in health-care stocks and along with the S&P, the blue-chips were registering 10 straight days of gains and longest run in 30 years.The Dow Jones Industrial Average closed having gained 34 points, or 0.2%, to end a...

00:46 24 February /2017 Forex

RBA's Lowe vs. Aussie vs. households 180% 'dark cloud' debt-to-income Jose Ricaurte Jaen

Markets participants shift their attention to RBA's Lowe upcoming speech to gather evidence to either increase their long-Aussie positions or reduce them on the spot. As of writing, the AUD/USD pair, a commodity-linked currency, navigates the waters above 0.77 which increase the odds to expect a move higher towards 0.78 round figure.Lowe's 'No further easing' rhetoricPhilip Lowe, ...

00:46 24 February /2017 Forex

AUD/NZD correction could extend to 1.0600 area - Westpac Ross J Burland

Analysts at Westpac offered their outlook for the antipodean cross and rates.Key Quotes:"AUD/NZD 1 day: Reversed just shy of the important 1.0770 area (a technical “neckline”), with potential for this correction to extend to the 1.0600 area.AUD/NZD 1-3 month: Higher to the 1.0770 area at least. The cross remains well below fair value estimates implied by interest rates, commodity ...

00:46 24 February /2017 Forex

Gold vs. US dollar; No yield vs. 116 Jose Ricaurte Jaen

Currently, the Gold spot is trading at 1249.92, up +1.00% or 1245-pips on the day, having posted a daily high at 1251.10 and low at 1237.79. On the other hand, the US 10yr treasury yields have traded from 2.41% to 2.37%, down -1.25% on the day at 2.38% or -0.0302.Gold bugs are on banking a 2-day winning streak as the shiny metal moves...

23:46 23 February /2017 Forex

Analysts at Westpac offered an economic wrap - Westpac Ross J Burland

Analysts at Westpac offered an economic wrap.Key Quotes:"Chicago Fed National Activity Index fell from 0.18 to -0.05 (vs 0.00 expected). FHFA house prices rose 0.4% in Dec (vs 0.5% expected), seven of nine regions posting gains. Kansas Fed manufacturing rose from 9 to 14 (vs 9 expected). Jobless claims were 244k (vs 240k expected),maintaining a tight path.Event Risk

23:23 23 February /2017 Forex

US dollar index retreats for the second day in a row;

The US dollar fell across the board on Thursday and during the last hours of the day, it managed to move off lows. Greenback turned to the downside after Mnuchin interview. Markets reflect confidence in US economy - US Sec. S.MnuchinThe Dollar Index dropped from 101...

23:00 23 February /2017 Forex

GBP/USD consolidating the bid and dollar weakness through 1.2500 Ross J Burland

Currently, GBP/USD is trading at 1.2543, up 0.67% on the day, having posted a daily high at 1.2562 and low at 1.2427.Market wrap: mixed day with weaker dollar, higher stocks - WestpacGBP/USD is consolidating the bid from 1.2450 to afor...

23:00 23 February /2017 Forex

Market wrap: mixed day with weaker dollar, higher stocks - Westpac Ross J Burland

Analysts at Westpac offered a market wrap.Key Quotes:"Global market sentiment: US interest rates and the US dollar fell, while the S&P500 made a fresh all-time high. Yesterday’s FOMC minutes may have lingered.Interest rates: US 10yr treasury yields fell from 2.45% to 2.38%, while the 2yr fell from 1.22% to 1.19%. US Fed fund futures implied rates were mixed, the April contract...

22:46 23 February /2017 Forex

EUR/USD erases gains, drops back toward 1.0560 Matías Salord

EUR/USD failed to hold to gains and pulled back. The euro remains under pressure across the board and it failed to benefit from the decline of the US dollar. The pair jumped during the American session and peaked at 1.0594, the highest level in two days. It tested the highs several times but it was unable to break higher. Then lost momentum and pulled back, trim...

22:46 23 February /2017 Forex

Fedel Reserve's Kaplan hitting the wires Ross J Burland

Federal Reserve's Kaplan mirrored much of what previous Fed speakers have said this week and also sees 2% US GDP growth for the US economy but as soon as this year.Kaplan said the US is near full employment and suggests that the Fed should move sooner rather than later.

22:00 23 February /2017 Forex

Le Pen vs Macron volatility - BTMU Ross J Burland

With Le Pen’s policies so much a contrast of either Macron’s or Fillon’s, any shift in expectations on the outcome of the election is going to create higher volatility.Key Quotes:"The signs of this occurring already points to markets taking political risks more seriously than last year. If so, there is plenty for investors to contemplate in relation to a Le Pen victory. On 4 th Fe...

21:46 23 February /2017 Forex

Support for anti-establishment parties has faded - Nomura Ross J Burland

Analysts at Nomura explained that the level of support for anti-establishment parties has faded in recent months just as economic activity in many European economies has picked up pace. Key Quotes:Our modelling work suggests that this support will fade further in the period ahead We modelled the approval rate of populist parties using stock prices, the unemployment rate and refuge...

21:23 23 February /2017 Forex

WTI vs. US dollar; $55 vs. 100.20 Jose Ricaurte Jaen

Over the last 12-consecutive trading sessions, WTI traders have enjoyed a somewhat predictable price action above the 50-DMA which allow market participants to negotiate the barrel above $50 as the expectation of higher crude prices has not been ruled out. On the other hand, the Energy Information Administration (EIA) released the latest Crude Oil Stock change that clocked 'a better than expected'...

21:00 23 February /2017 Forex

USD/JPY testing below key 112.80 support Ross J Burland

Currently, USD/JPY is trading at 113.36, up 0.25% on the day, having posted a daily high at 113.48 and low at 113.02.USD/JPY is consolidated having tested recent lows of the 15th Feb downtrend on a broadly weaker dollar as Asian equity markets soften and European markets trade mixed. "US futures are positive, however and Treas Sec. Mnuchin’s comm...

21:00 23 February /2017 Forex

RBA to cut by year end? - Westpac

Analysts at Westpac explained that the RBA held the cash rate at 1.5% in February and maintained a neutral outlook in its statement. Key Quotes:"This was fully expected. Perhaps most notable in the statement – later reinforced in the quarterly SoMP – was a more upbeat view of the global economy: “The improvement in the global economy has contributed to higher commodity prices, whi...

20:46 23 February /2017 Forex

NZD/USD outperforming to challenge 0.7330 sell-off Ross J Burland

Currently, NZD/USD is trading at 0.7234, up 0.54% on the day, having posted a daily high at 0.7249 and low at 0.7174.NZD/USD has been consolidated after scoring the fresh aforementioned highs earlier as the pair meets the 8th Fd downtrend from 0.7332. The dollar is on the back foot and the FOMC minutes have left a dark shadow over the greenback.A...

20:23 23 February /2017 Forex

Dollar to rebound? - BTMU

Analysts at Bank of Toko Mitsubishi do not expect dollar weakness.Key Quotes:"US dollar on a DXY basis had been regaining some upside momentum again but the mention of “fairly soon” in regard to the timing of the next rate hike by the FOMC and the lack of concern expressed over inflation have undermined the dollar and eased speculation on a March rate hike.""However, we do not exp...

19:46 23 February /2017 Forex

USD/MXN: recent developments are positive for the Mexican Peso - BBH

According to analysts from Brown Brother Harriman, the recent FX program from Banxico, an improvement in the risk environment and better-than-expected signals from the relationship between Mexico and the US, are positive factors for the Mexican peso (MXN). Key Quotes: “Banco de Mexico announced a new FX program to help support the peso without draining its foreign reserves.  While...

19:46 23 February /2017 Forex