Forex News

Event calendar

22

US: Financially conditioned for growth – BMO CM

The U.S. economy keeps rolling with the punches as all the major economic releases last week topped expectations, explains Sal Guatieri, Senior Economist at BMO Capital Markets.Key Quotes“October retail sales built on an earlier impressive (though mostly flood-related) jump, suggesting decent momentum heading into the holiday shopping season, which is likely to be the best in thre...

15:23 22 November /2017 Forex

AUD under constant pressure - BBH Sandeep Kanihama

The Australian dollar posted a bullish key reversal yesterday, but the lack of follow-through buying today is disappointing, according to analysts at BBH.  Key Quotes“Construction jumped 15.7% in Q3 after an upwardly revised 9.8% (from 9.3%) in Q2.  Even this did not help.  The construction report was flattered by the LNG facility being imported.  The weakness in renovations seeme...

15:23 22 November /2017 Forex

Australia: Growth in retail sales volumes likely to have softened - Kiwibank

The first partial indicator of September quarter GDP data for Australian economy, the Q3 retail trade survey, is to be released on Thursday and growth in sales volumes is likely to have softened over the quarter, in part due to pre-election uncertainty dampening households’ appetite to spend, suggests the research team at Kiwibank.Key Quotes“The housing market remained subdued ove...

15:00 22 November /2017 Forex

Germany: Political uncertainty looms – BBH

Germany's political outlook is far from clear as after consulting with the German President, the FDP refuses to renew coalition talks, explains the research team at BBH.  Key Quotes“The only other potentially viable alternative is to woo back the SPD.  The head of the SPD Schulz has ruled it out, but he is not the party.  A survey suggested less than half of the SPD favor Schulz t...

15:00 22 November /2017 Forex

Fed: Yellen warns against raising rates too quickly - BBH Sandeep Kanihama

Analysts at BBH point out that at a speech in NY late yesterday, Yellen warned against raising rates too quickly and repeated her sense of mystery over the decline in inflation this year.  Key Quotes“The US two-year yield softened marginally, and the Fed funds futures rose.  At 1.295%, the implied yield of the December Fed funds futures contract is precisely at what we think is fa...

15:00 22 November /2017 Forex

US: Durable goods orders likely to grow 0.5% - BMO CM Sandeep Kanihama

October durable goods orders should be driven by sturdy transportation activity, according to Michael Gregory, Deputy Chief Economist at BMO Capital Markets.Key Quotes“The past two months saw vehicle sales average their highest level in more than a dozen years, helping pare inventories and prompting new orders along the industry’s supply chain. And, although Boeing’s bookings dipp...

15:00 22 November /2017 Forex

UK: Its all about Hammond today - BBH Sandeep Kanihama

The main event today, however, is in the UK as Chancellor of the Exchequer Hammond delivers his Autumn Budget to parliament and there is much pressure on Hammond to deliver.  Key Quotes“Former Prime Minister Cameron thought a referendum on the EU would resolve the conflict that was ripping apart the Tory Party.  Rather than resolve it, the referendum nationalized it, and the Torie...

15:00 22 November /2017 Forex

US: Focus on FOMC meeting minutes and durable goods – Kiwibank Sandeep Kanihama

Analysts at Kiwibank suggest that the US data week is shortened due to the Thanksgiving holiday on Thursday and the latest FOMC minutes are not expected to deliver any surprises.Key Quotes"They may however shed additional light on the individual views of members regarding the persistent issue of low inflation despite the economy being at or near full-employment.”“Prior to the FOMC...

14:46 22 November /2017 Forex

USD/JPY struggling near 112.00 handle ahead of US data/FOMC minutes Haresh Menghani

   •  Cautious sentiment prompts fresh selling. 
   •  Rebounding US bond yields lending some support.
   •  Focus remains on US durable goods/FOMC minutes.The USD/JPY pair did manage to reverse a dip back below the 112.00 handle but maintained its heavily offered tone through the mid-European session.Against the backdrop of already weaker ...

14:46 22 November /2017 Forex

EUR/USD still targets 1.2500 in 12-month – Danske Bank Pablo Piovano

Chief Analyst at Danske Bank Christin Tuxen expects the pair to visit the 1.2500 area within a year’s view.Key Quotes“Dips in EUR/USD could occur near term as the risk of USD support from a US tax reform and the relative cyclical position and policy-cycle remain”.“We still stress that dips should be shallow ...

14:46 22 November /2017 Forex

USD/JPY stays bearish, could test 111.65 – UOB Pablo Piovano

The pair’s outlook remains negative and there is still room for a test of 111.65 in the short-term horizon, noted FX Strategists at UOB Group.Key Quotes24-hour view: “Against our expectation, USD eased off quickly without testing the strong the 113.00 resistance (high of 112.70). Despite lackluster momentum,...

14:46 22 November /2017 Forex

US Dollar extends the downside below 94.00

The US Dollar Index (DXY), which tracks the buck vs. its main rival currencies, keeps the choppy trade so far this week and is now hovering over the 93.85/80 band.US Dollar focused on FOMC, dataThe index is now prolonging the weekly correction lower, down for the second session in a...

14:23 22 November /2017 Forex

FOMC Minutes to take centre stage today – BMO CM Sandeep Kanihama

The Fed’s November 1 policy statement had no change in policy rates or guidance and described the economy in a more upbeat tone (keeping the option of a December rate hike open) and so the minutes will be watched keenly for insights, suggests Michael Gregory, Deputy Chief Economist at BMO Capital Markets.Key Quotes“We’ll be reading the Minutes with three things in mind. First, is ...

14:23 22 November /2017 Forex

EUR/USD retreats from highs, back around mid-1.1700s ahead of US durable goods Haresh Menghani

   •  Struggles to build on early tepid recovery move.
   •  German political crisis continues to weigh.
   •  Rebounding US bond yields prompt fresh selling. The EUR/USD pair appeared to lose its corrective upside momentum and has now retreated around 20-25 pips from session tops.The pair initially was seen building on its overnight modest...

14:23 22 November /2017 Forex

AUD: Less inflation prone? - Rabobank Sandeep Kanihama

Jane Foley, Senior FX Strategist at Rabobank, notes that the AUD/USD may have bounced off its recent low but the currency pair remains within the downtrend that has dominated since September. Key Quotes“Signals from the RBA that it will not be following the more hawkish direction of some other central banks has also been instrumental in the softer tone of the AUD in recent months....

14:23 22 November /2017 Forex

US: Yield curve put under the microscope? - Natixis

René Defossez, Research Analyst at Natixis, notes that the slope of the US yield curve has continued to flatten in recent trading sessions: the slope of the 2Y-10Y segment of the Treasury curve is now just 62bp (its lowest level since 2007), while it is only 42bp for the 10Y-30Y segment (its lowest level since 2008).Key Quotes“Some market participants expect a new “conundrum”, ref...

14:00 22 November /2017 Forex

US: Focus on Fed Minutes – TDS

The market’s focus will be split between the data calendar and November FOMC minutes, which will be published at 14:00 ET, according to analysts at TDS.Key Quotes“Markets will parse the Fed minutes for any signal about the path of rates beyond year-end but with a December rate hike over 95% priced, it is unlikely that the minutes add anything new to the debate.”“On the data front,...

13:46 22 November /2017 Forex

ECB’s Villeroy: Banks must be ready for extreme situations Dhwani Mehta

Livesquawk reporting comments from the ECB Governing Council member and Bank of France Head Villeroy, noting that the banks must be ready to handle extreme situations.

13:46 22 November /2017 Forex

WTI taps on $ 58, strongest since July 2015 Dhwani Mehta

WTI (oil futures on NYMEX) extended its upbeat momentum into a second straight session on Wednesday, rallying hard to fresh multi-month highs on the back of drawdown in US crude stockpiles and supply disruption concerns.WTI: Will it take-out 58 handle?The black gold has entered a phase of upsid...

13:23 22 November /2017 Forex

Some German Social Democrats question rejection of grand coalition - Bild Dhwani Mehta

Reuters reports a story published by the Bild newspaper, a German tabloid, citing that a group of Social Democrat (SPD) deputies is questioning their party’s rejection of a renewed ‘grand coalition’ with Chancellor Angela Merkel’s Conservatives to resolve Germany’s worst political crisis of recent times.Bild reported the consensus within the party appears to be crumbling with roug...

13:23 22 November /2017 Forex