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NZD/USD: can the bird's advance continue and target 2017 highs? Ross J Burland

NZD/USD is currently trading at 0.7283 with a high of 0.7285 and low of 0.7276.NZD/USD is consolidating in a quiet start to the week. There is a lot of focus is on the bird at the moment considering its recent performance and relentless advance. Against the US dollar, the bird is just shy of a five cent advance from the depths of the 0.68 handle...

02:46 26 June /2017 Forex

OCR to stay on hold for some time - Westpac Ross J Burland

Analysts at Westpac explained that this week’s Official Cash Rate review from the Reserve Bank didn’t deliver any surprises. Key Quotes:"As expected, the RBNZ keep the OCR on hold at the current record low of 1.75%. In addition, the bottom line of the press release was unchanged from the May Monetary Policy Statement, noting that “Monetary policy will remain accommodative for a co...

02:00 26 June /2017 Forex

Market wrap: treading water, dollar gives back - ANZ Ross J Burland

Analysts at ANZ explained that Markets were relatively quiet on Friday with equities generally treading water, yields little changed, and the US dollar giving back some recent gains. Key Quotes:"European and US data had minimal market impact, with most moves in the market mild.""European bourses fell by 0.2- 0.5% while equities in the US were mixed with DJIA flat and S&P 500 u...

01:46 26 June /2017 Forex

The week ahead: United States - Nomura

Analysts at Nomura explained that for the week ahead in the US, the relevant elements of the May PPI and CPI inflation reports point to subdued core PCE inflation in May. Key Quotes:"Durable goods orders (Monday): We expect a 0.1% m-o-m decline in total durable goods orders in May following a 0.8% decline in April. We expect the forecast decline to be driven by weakness in durable...

01:23 26 June /2017 Forex

EUR/USD: awaiting June CPI as next catalyst - BBH Ross J Burland

Analysts at Brown Brothers Harriman explained that the euro was confined to a narrow trading ranges last week and finished little changed against the dollar.  Key Quotes:"Since the middle of May, the euro has traded in an $1.11-$1.13 trading range.  After starting the week in Asia above $1.12, it was confined to the lower half of the range in the past several sessions.  The sidewa...

01:23 26 June /2017 Forex

The week ahead: Japan - Nomura Ross J Burland

Analysts at Nomura explained that for the week ahead, they forecast May all-Japan core CPI inflation to come in at 0.5% y-o-y as the rise in import costs stemming from JPY depreciation through end-2016 starts to have an impact.Key Quotes:"May all-Japan CPI (Friday): We forecast May all-Japan core CPI inflation (ex-fresh food) to come in at 0.5% y-o-y, stronger than the April readi...

01:23 26 June /2017 Forex

The week ahead: Europe - Nomura Ross J Burland

Nomura's The week ahead for Europe...Key Quotes:"German Ifo (Monday): We expect the German Ifo business climate index to increase to 115.2 in June from 114.6 in May. We forecast both the current situation and expectations indices to pick up to 106.8 (from 106.5) and 124.2 (from 123.2) respectively. UK CBI distributive trades survey (Tuesday): Rising inflation and falling real wage...

01:00 26 June /2017 Forex

US dollar edges higher but lacks conviction - BBH Ross J Burland

Analysts at Westpac explained that the US dollar edged higher against most of the major currencies over the past week. Key Quotes:"However, the fundamental backing is ...

00:46 26 June /2017 Forex

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