Event calendar


Brazil: BCB expected to cut rates again by 25bps - Rabobank Sandeep Kanihama

The BCB today is expected by the overwhelming majority of consensus to cut rates again by 25bps, suggests the analysis team at Rabobank.Key Quotes“We hold to our call of no shift in policy as we don't believe that the last single inflation print is enough to signal a material ...

15:23 21 March /2018 Forex

China plans countermeasures against US tariffs - WSJ Haresh Menghani

According to the WSJ report, citing people familiar with the matter, China is said to plan countermeasures against the US President Donald Trump's proposed tariffs. China is likely to target US agricultural exports of soybeans, sorghum and live hogs, but the plan could change based on what the Trump administration proposes.The headlines sparked concerns of a full-blown US-China trade war and promp...

15:23 21 March /2018 Forex

EUR/USD sidelined around 1.2280 ahead of Fed meeting Pablo Piovano

The single currency remains bid on Wednesday amidst a generalized softer tone around the buck and EUR/USD looking to stabilize in the 1.2270/90 band ahead of the Fed meeting.EUR/USD consolidative ahead of FOMCThe pair stays in recovery-mode following yesterday’s strong pullback to the 1.2240 region, coincident with the rel...

15:23 21 March /2018 Forex

EUR futures: further downside loses momentum Pablo Piovano

According to CME Group’s advanced figures for EUR futures markets, investors trimmed their open interest positions for the second session in a row on Tuesday, this time by just 794 contracts vs. Monday’s final 600,892 contracts. In the same line, volume dropped for the third session in a row by almost 54.6K contracts.EUR/USD a test...

15:00 21 March /2018 Forex

AUD/USD hits fresh YTD lows, FOMC decision in focus Haresh Menghani

   •  Resurgent US bond yields help offset USD weakness and prompt some fresh selling. 
   •  Weaker copper prices did little to lend any support and stall the downfall.
   •  The Fed's outlook for future interest rates should provide a fresh directional impetus.
The AUD/USD pair struggled to build on early tepid recovery m...

15:00 21 March /2018 Forex

Bank of Russia to trim its key rate in March - Rabobank Sandeep Kanihama

Analysts at Rabobank expect the Bank of Russia to lower the key rate by 25bps to 7.25% at its second monetary policy meeting this year scheduled on March 23.Key Quotes“With inflation at a record low and unlikely to accelerate sharply in the coming months, Russian policy makers led by Governor Nabiullina have room for manoeuvre to trim borrowing costs.”“Given that the ruble has sof...

14:46 21 March /2018 Forex

USD/CAD challenges 1.3000 ahead of Fed meeting Pablo Piovano

The Canadian Dollar is extending its upside momentum vs. its American neighbor during the first half of the week, forcing USD/CAD to drop to daily lows around 1.3015/10.USD/CAD looks to Fed, BoC, CPIThe pair is down for the third consecu...

14:46 21 March /2018 Forex

EUR/GBP continues losing ground, lowest since early Feb. Haresh Menghani

   •  UK wage growth data surprise on the upside and fuel BoE rate hike speculations.
   •  Near-term oversold conditions/UK CBI data might help limit further downside.
   •  Traders now look forward to BoE decision for a fresh directional impetus.
The EUR/GBP cross extended post-UK jobs data slide and is currently placed...

14:46 21 March /2018 Forex

USD/JPY bearish undertone allows for a test of 105.25 – UOB Pablo Piovano

In view of FX Strategists at UOB Group, there is still room for the pair to re-visit the 105.25 level in the next weeks.Key Quotes24-hour view: “Expectation for USD to trade sideways yesterday was wrong as it rose to hit a high of 106.60. The up-move appears to be running ahead of itself but a ‘test’ of the ...

14:46 21 March /2018 Forex

AUD: Under the hammer? - AmpGFX Sandeep Kanihama

Greg Gibbs, Analyst at Amplifying Global FX Capital, points out that the AUD has been one of the weaker currencies in recent sessions. Key Quotes“We had thought that the AUD might come under pressure after the tariff news come out in early-March.  We thought as a major exporter of steel-making 14:46 21 March /2018 Forex

RBNZ: Steady as she goes – Nomura Sandeep Kanihama

Tomorrow’s Reserve Bank of New Zealand (RBNZ) policy meeting is widely expected to be a muted affair, according to Sam Bonney, Research Analyst at Nomura.Key Quotes“According to Bloomberg, there is a universal consensus that the cash rate will remain unchanged, at 1.75%. Moreover, this is acting Governor Spencer’s last meeting before the new governor, Adrian Orr, takes the helm on...

14:00 21 March /2018 Forex

ECB’s Smets: Monetary policy needs to remain patient, persistent and prudent Dhwani Mehta

The European Central Bank (ECB) Governing Council member and Belgian central bank Chief Jan Smets was on the wires last minutes, via Reuters, speaking at the at the European Association of Co-operative Banks (EACB) Regulatory Debate on ‘The impact of monetary policy on the macroeconomy and European banks’.Main Headlines:“ECB thinks slack could be larger than expec...

13:46 21 March /2018 Forex

GBP/USD interim target at 1.4145 – UOB Pablo Piovano

Cable sticks to the neutral stance in the near term, while still expects a re-test of 1.4145, noted FX Strategists at UOB.Key Quotes24-hour view: “GBP traded between 1.3983/1.4066 yesterday, narrower than our expected sideway trading range of 1.3980/1.4070. While the undertone has weakened somewhat, it is to...

13:46 21 March /2018 Forex

CNY expected to pick up pace in the longer run – Danske Bank Pablo Piovano

Allan von Mehren, Chief Analyst at Danske Bank, now sees the pair grinding lower to the 6.20 region within a year’s view.Key Quotes“The continued strong correlation with the overall USD development has continued to dominate developments in USD/CNY and a move in relative rates<...

13:46 21 March /2018 Forex

PBOC to relax restrictions on foreign payment firms - RTRS Dhwani Mehta

Reuters reports the latest statement published by the Chinese central bank, PBOC, citing that it has eased rules for foreign payment firms that aim to provide electronic payment services in China, in an effort to open the market.The PBOC also said that these will have to obtain licenses beforehand and client data and other information will have to be stored in China. 

13:23 21 March /2018 Forex

USD/JPY attempting to base near term – Commerzbank Pablo Piovano

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains sidelined for the time being and could be looking to base in the short-term horizon.Key QuotesUSD/JPY is side-lined between last week’s high and the current March low a...

13:00 21 March /2018 Forex

GBP/USD clinches highs near 1.4070 post-UK jobs Pablo Piovano

The bid tone around the Sterling is now accelerating and is lifting GBP/USD to record fresh daily highs in the 1.4060 region.GBP/USD stronger on data, looks to FedCable is reverting yesterday’s ‘inside day’ and has regained the upper end...

13:00 21 March /2018 Forex

Fed meeting should be seen as a welcome distraction – Deutsche Bank Sandeep Kanihama

With markets really struggling to build up any sort of momentum at the moment, today’s Fed meeting should be seen as a welcome distraction, according to analysts at Deutsche Bank.Key Quotes“The meeting takes on a little bit more focus as it’s of course Fed Chair Powell’s debut in the hot seat. So there will be...

12:46 21 March /2018 Forex

GBP/JPY jumps back closer to 3-week tops post-UK jobs data Haresh Menghani

   •  GBP regains traction on stronger UK earnings growth/fall in unemployment rate.
   •  Traders largely shrugged off an unexpected jump in the UK claimant count.

   •  Stronger Yen now seemed to cap gains ahead of Thursday’s BoE decision.The GBP/JPY cross finally broke out of its Asian/early European c...

12:46 21 March /2018 Forex

UK Feb jobs mixed: Claimant count climbs unexpectedly, wages tick higher Dhwani Mehta

The Office for National Statistics (ONS) showed on Wednesday, the UK’s official jobless rate ticked lower to 4.3% in January, while the claimant count change increased unexpectedly.The number of people claiming jobless benefits rose by 9.2k in February, against expectations of a 5.0k decrease and 1.6k drop (revised lower from 7.2k) seen previously. The claimant c...

12:46 21 March /2018 Forex