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ECB deemed Veneto Banca and Banca Popolare di Vicenza failing or likely to fail Eren Sengezer

"On 23 June, the European Central Bank (ECB) determined that Veneto Banca S.p.A. and Banca Popolare di Vicenza S.p.A. were failing or likely to fail as the two banks repeatedly breached supervisory capital requirements," announced European Central Bank Directorate General Communications on Friday. Key quotes:"The determination was made in accordance with Articles 18(1a) and 18(4a)...

23:23 23 June /2017 Forex

Wall Street erases gains, closes week with small gains Eren Sengezer

Although major equity indexes were higher for the majority of the session, they started to erase their gains in the last hours of trading as investors cashed in their profits.Technology stocks stole the spotlight on Friday as solid performances of giants like Apple, Facebook, and Microsoft boosted the S&P 500 information technology sector .SPLRCT. Although the sub-index nearly gained 1% on the...

23:23 23 June /2017 Forex

EUR/USD rises towards 1.12, turns flat on the week Eren Sengezer

With a daily gain of more than 50 pips, the EUR/USD pair was able to erase it weekly losses and is about to close the week near the 1.12 handle, for the second week in a row. As of writing, the pair is trading at 1.1197, up 0.4% on the day.Dovish comments from today's Fed speakers weighed on the greenback, pushing the

23:23 23 June /2017 Forex

US: Key economic reports ahead - Danske Bank

Analysts from Danske Bank take a look into next week economic releases in the United States. Key Quotes: “In the US, Friday of the coming week brings PCE inflation figures for May. PCE inflation has fallen quite substantially over the past couple of months and PCE core inflation read 1.5% y/y in April. The May print of the CPI figures indicates that headline PCE w...

22:23 23 June /2017 Forex

USD/CAD ends week slightly higher after Friday’s rally Matías Salord

The Loonie dropped across the board on Friday and erased weekly gains versus the US dollar. Lower-than-expected inflation data from Canada triggered a decline of currency. The CPI rose 0.1% in May, below the 0.2% expected. The annual rate stood at 1.3%. Weak inflation numbers offset the latest comments from Bank of Canada officials, that pointed towa...

22:23 23 June /2017 Forex

BoE policy confusion sending GBP markets on a wild ride - ING Eren Sengezer

Analysts at ING see the GBP/USD neutral for the week ahead, trading in a range between 1.2620 and 1.2820.Key quotes:"It has been a bizarre week for BoE watchers, with the confluence of MPC views creating confusions in markets. We tend to side with Governor Carney and think that patience is required when it comes to a rate hike. Leading indicators such as the CBI surveys (Tue) and ...

22:00 23 June /2017 Forex

Gold consolidates daily gains above $1250 Eren Sengezer

After rising to a fresh weekly high at $1259 against the USD, the precious metal went into a consolidation phase in the late NA session and is now trading at $1256, up 0.44%, or $5.5, on the day.Despite dovish comments from today's Fed speakers, the bearish pressure on the US Dollar Index seems to have eased in the last hours. Following a drop below the 97 handle, the index is now moving sideways ...

21:46 23 June /2017 Forex

Fed's Powell didn't comment on US economic outlook nor monetary policy Eren Sengezer

Speaking on 'Market Liquidty' in a symposium in Chicago, Fed Governor Jerome Powell didn't comment on the U.S. economic outlook nor the monetary policy in his prepared remarks. 

21:46 23 June /2017 Forex

Brexit: Not a very destabilizing factor for the Eurozone - Danske Bank

Analysts from Danske Bank consider that the Brexit negotiations do not implicate a very destabilizing factor the Eurozone, neither economically nor politically. Key Quotes: “The situation in UK politics is increasingly chaotic. The EU will confront the UK in terms of the Brexit negotiations from a position of unity and strength, particularly given the likely strong partnership of ...

21:23 23 June /2017 Forex

Fed’s Mester: One more rate hike expected in 2017 Eren Sengezer

Cleveland Fed President Loretta Mester is giving her remarks at a Fed-sponsored event:Key quotes (via Reuters):

21:23 23 June /2017 Forex

AUD/USD rebounds on Friday and trims weekly losses Matías Salord

The Aussie rebounded on Friday after falling during the previous three trading days against the US dollar. AUD/USD is still head toward a weekly loss but remains near 2-month highs. Yesterday, the pair dropped to 0.7534, the lowest level in a week. Today during the Asian session it started to recover and peaked on European hours at 0.7582, the highest since Tuesd...

21:23 23 June /2017 Forex

US New Home Sales: Solid rebound in May - Wells Fargo

According to analysts from Wells Fargo, today’s US New Home Sales report was fairly strong and fairly clean. Key Quotes: “New home sales rose a solid 2.9 percent in May, reversing part of the prior month’s 7.9 percent drop. Revisions to the three previous months’ data were also encouraging. Sales were revised up by a total of 34,000 homes and April’s initially reported 11.4 percen...

20:23 23 June /2017 Forex

Fed's Mester: US Mon. policy cannot address income inequality, effects of globalization Eren Sengezer

Speaking at a Fed-sponsored event, Cleveland Fed President Loretta Mester said: "While monetary policy cannot address issues such as income inequality, the longer-run issues of workforce development, or the distributional effects of globalization and technological change, other government policies and private-public programs - if they are well-designed - can," in her prepared remarks.

20:00 23 June /2017 Forex

Fed's Bullard: Possible Fed could announce b/sheet decision in September Eren Sengezer

St. Louis Fed President James Bullard is crossing the wires again, via Reuters, with the key quotes found below:

20:00 23 June /2017 Forex

USD/JPY directionless above 111, headed for weekly gains Eren Sengezer

The USD/JPY pair remains stuck in a 30-pip range on the last trading day of the week but is marching towards a positive closing on a weekly basis for the second week in a row. As of writing, the pair is trading at 111.25, down 0.07% on the day.Despite relatively upbeat macro data, the US Dollar Index eased below the 97 han...

19:46 23 June /2017 Forex

USD/JPY waiting for the next big White House catalyst - ING Eren Sengezer

Analysts at ING see the USD/JPY being mildly positive for the week ahead, trading in a range between 110.50 and 112.20.Key quotes:"Tentative progress is being made when it comes to White House policy agenda; Senate Reps are now at the stage of getting votes on their version of Health Care Bill. Need this resolved to move onto tax reforms.""With the ultra-accommodative BOJ policy u...

19:46 23 June /2017 Forex

Crude oil: price may fall further near term - Danske Bank Matías Salord

According to analysts from Danske Bank, supply and demand dynamics suggests that the price of crude oil may fall further near term.Key Quotes: “The oil price grabbed the headlines again this week, reaching the lowest level since November last year. As usual, there is lot of attention on oil supply stories with increasing production out of Libya catching the headlines.”“We have yet...

19:23 23 June /2017 Forex

USD/CHF hits fresh weekly lows at 0.9675 Matías Salord

A decline of the US dollar pushed the USD/CHF pair to the downside. It fell to 0.9675, hitting the lowest level in a week. Currently, trades at 0.9685/90, down 30 pips for the day. The pair is falling for the fourth day in a row, headed toward the first daily close under the 20-day moving average in more than a week. On a weekly basis, USD/CHF is about to end the...

19:00 23 June /2017 Forex

Fed's Bullard: Fed can wait on further rate increases given "downside surprise" in recent data Eren Sengezer

"Central bank can wait on further rate increases given "downside surprise" in recent data," St. Louis Fed President James Bullard said on Friday.Key quotes (via Reuters):

18:46 23 June /2017 Forex

NY Fed Nowcast: GDP growth seen at 1.9% for 2017:Q2 and 1.5% for 2017:Q3 Eren Sengezer

According to the latest GDP Nowcast report released by the Federal Reserve Bank of New York:

18:46 23 June /2017 Forex