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Kevin Warsh for Fed chair? - WSJ Ross J Burland

The Wall Street Journal has reported that Vice President Pence met with Kevin Warsh about the the Fed position. Warsh is tipped to be pro looser regulation and tax cuts.The bookies had Taylor as a clear favourite today, boosting the dollar again, but the WSJ reports that Pence has been part of a small group of senior White House officials who have been vetting candidates as well."Kevin Warsh, a ca...

01:46 24 October /2017 Forex

Republicans to release their tax bill as early as next week? - Nomura

Analysts at Nomura offered an update on the US Tax policy.Key Quotes:"The House of Representatives will likely vote on the Senate’s fiscal year 2018 Budget Resolution on Thursday, setting the stage for a tax package that can be passed via a simple majority in the Senate. House Republicans could release their tax bill as early as next week and move on to the process of committee he...

01:23 24 October /2017 Forex

Forex today: mixed day, dollar up, starting off risk-on, profit taking then ensued Ross J Burland

Forex today was yet again another mixed day, starting out risk-on, then risk-off.  Support building in the House of representatives fuelling a bid on the greenback, getting an extra boost from Trump's announcement that he is very very close to a decision on who will be his choice as the next Fed chair.There is a lot of pressure on Congress to pass a tax reform bill by the end of the year and the H...

00:46 24 October /2017 Forex

Shinzo Abe taking a hard-line on N.Korea - ANZ Ross J Burland

Analysts at ANZ noted that the Japanese PM Shinzo Abe secured a strong mandate for more ultra-easy monetary policy over the weekend and explained implications for currencies and N.Korea.Key Quotes:"The ruling coalition retained its two-thirds majority in the 465 member lower house in their weekend election. The election outcome should provide a near-term boost for Japanese equitie...

00:23 24 October /2017 Forex

Wall Street pauses rally to record highs Valeria Bednarik

US equities closed in the red after a strong start to the day, led by gains in their overseas counterparts. US indexes closed at their daily lows, and retain a negative tone after the close, posting the first relevant correction in two months. The Dow Jones Industrial Average lost 54 points, to close at 23,273.96, while the Nasdaq Composite settled at 6,586.83, down 0.64%. The S&P lost 10 poin...

23:46 23 October /2017 Forex

GBP/USD: struggles on gains through 1.32 the figure, technically bearish? Ross J Burland

After ranging between 1.3170-1.3203, cable was bid early on in London due to the Spire/Mediclinic M&A news, making for a high of 1.3227. For the US session on Monday, GBP/USD at 1.3205, is up 0.16% on the day, having posted a daily high at 1.3229 and low at 1.3158.  The US stayed with the bid on Monday while bond yields ...

23:23 23 October /2017 Forex

Market wrap: risk sentiment elevated, dollar up - Westpac Ross J Burland

Analysts at Westpac offered a market wrap.Key Quotes:"Global market sentiment: Risk sentiment remained elevated, pushing US equities to fresh record highs at the NY open. The US dollar rose, while bond yields consolidated recent gains.Interest rates: US 10yr treasury yields ranged between 2.36% and 2.40, while 2yr yields initially made a nine-year high at 1.59% before slipping bac...

23:23 23 October /2017 Forex

ECB to begin slow process of rate hikes late 2018 - Wells Fargo Matías Salord

Analysts from Wells Fargo, expect the European Central Bank to announce a reduction in the QE program on Thursday from EUR 60billon a month to EUR 40billion. They see a slow process of rate hikes starting late in 2018. Key Quotes: “The European Central Bank has administered an extraordinary degree of monetary accommodation to the Eur...

22:46 23 October /2017 Forex

AUD/USD remains weak hovering around 0.7800 Matías Salord

AUD/USD failed to recover ground during the American session. It printed a fresh weekly low and near the end of the session remains near the 0.7800 area.Bearish bias intact A stronger US dollar across the board pushed the pair to the downside. The US Dollar Index rose today to 93.84, the highest level since October 6. The greenback remains supported by Trump’s tax-cut plan and hig...

22:23 23 October /2017 Forex

US Federal Budget: Deficit widens in FY 2017, more of the same ahead - Wells Fargo

Analysts from Wells Fargo, noted that the Federal government ran a budget deficit of $666 billion during FY 2017, an increase of 14% from the previous year. According to them, the deficit will rise. Key Quotes: “Data released from the U.S. Treasury showed the federal government incurring a small surplus of $8 billion in the month of September. The federal fiscal year runs from Oct...

21:23 23 October /2017 Forex

Key commodity currencies in focus - Rabobank Ross J Burland

Analysts at Rabobank noted the  IMM Net Speculators’ Positioning as at October 17, 2017 and commented on the CAD and AUD that are both in focus this week fundamentally.Key Quotes:"CAD longs slipped modestly but remain elevated. Canadian CPI inflation has risen, though on balance economists are favouring steady policy from the BoC this week." "AUD longs dropped back for a third con...

21:00 23 October /2017 Forex

Catalonia: lengthy jail terms in event of formal declaration of independence - Scotiabank Ross J Burland

Analysts at Scotiabank explained that the power struggle between Madrid and Catalonia continued over the weekend, with the central government announcing that it will remove the Catalan leadership and threaten lengthy jail terms immediately in the event of a formal declaration of independence. Key Quotes:"The Catalan regional representatives are expected to respond this week. Absen...

20:46 23 October /2017 Forex

Gold recovers from 2-week lows and rises above $1280 Matías Salord

Gold erased all losses and rose back above $1,280/oz. It rebounded after reaching earlier a 2-week low. The greenback remained steady in the market. Recovery underway The yellow metal bottomed after the beginning of the US session at $1,272.30, the lowest level since October 6. Then it stabilized aro...

20:23 23 October /2017 Forex

EUR/USD downside opening up for a test of key 1.1730 support Ross J Burland

Currently, EUR/USD is trading at 1.1746, down -0.33% on the day, having posted a daily high at 1.1780 and low at 1.1733. The recent downside has tallied up with the noise around Trump making an announcement that he is very close to making a decision on who the next Fed chair will be. The choice of the next Fed Chair i...

20:23 23 October /2017 Forex

BoC expected to leave rates on hold at 1.00% on Wed - Rabobank Ross J Burland

Analysts at Rabobank expect the Bank of Canada to leave rates on hold at 1.00% on Wednesday, 25th October.Key Quotes:This meeting will be accompanied by the fourth and final Monetary Policy Report (MPR) of 2017 and there will also be a press conference with Poloz and Wilkins.We expect the Bank to maintain a cautious tightening bias with the door open for a 25bp hike in December. T...

19:46 23 October /2017 Forex

EUR/GBP: testing below 0.8900 (4hr 200 SMA) on a key week ahead Ross J Burland

- A shift from Brexit to BoE rate hike expectations?
- ECB will be a highlight for the cross this week
- Eyes on UK GDPCurrently, EUR/GBP is trading at 0.8908, down -0.28% on the day, having posted a daily high at 0.8932 and low below the 200 4-hr SMA (0.8904) at 0.8899. Sterling is looking a little 'touch-and-go' on the recent Brexit hea...

19:23 23 October /2017 Forex

GBP/USD fails again to hold above 1.3200 Matías Salord

Cable bottomed earlier at 1.3156 and rebounded, rising back above 1.3200. But again it failed to hold on top and pulled back. It was trading at 1.3180, around the level it closed on Friday.

GBP/USD consolidation near 1.3200

The pound is among the top performers on Monday, on a quiet day with the US dollar higher in the market amid optimist of Trump’s tax reform.
...

19:00 23 October /2017 Forex

Brexit: UK's PM May is confident on UK getting a good deal with EU Ross J Burland

The UK's PM May is hitting the wires, speaking at Parliament, saying that she wants a transition period with ‘as little change as possible, but she doesn’t answer questions on whether transition deal will come 1st.Eu’s Juncker said earlier:

18:46 23 October /2017 Forex

US Dollar upside halted ahead of 94.00

The upbeat sentiment around the greenback stays well and sound on Monday, with the US Dollar Index (DXY) now easing some pips after climbing to the boundaries of 94.00 the figure.US Dollar tracking US yieldsThe index is back to the 93.90/85 band following a drop in yields of the US ...

18:23 23 October /2017 Forex