Forex

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US EIA cuts 2018 world oil demand growth forecast - Reuters Omkar Godbole

The US Energy Information Administration (EIA) trimmed it's 2018 world oil demand growth forecast by 40,000 barrels per day to 1.62 million barrels per day (bpd). In its monthly forecast, the agency raised the oil demand growth estimate for 2017 by 80,000 bpd to 1.39 million bpd.

04:00 13 December /2017 Forex

AUD/JPY - 200-day MA is a tough nut to crack

AUD/JPY is trading on the front foot, although the bid tone is once again not strong enough to topple the 200-day MA of 85.85 levels.Yesterday's move above the moving average was short-lived as well. Also, it worked as a strong resistance on Dec. 4 and Dec. 5.Earlier today, the Westpac consumer confidence data printed at 3.6% vs. -1.7% previous. Still, the moving average resistance holds. As of wr...

03:46 13 December /2017 Forex

UN Official Feltman - N.Korea agrees it is important to avoid war

Comments from UN political affairs chief Feltman crossing the wires via Reuters-

03:46 13 December /2017 Forex

USD/JPY: sitting above a robust 4-hr 10 SMA at 113.49 Ross J Burland

USD/JPY has been consolidating the bid and recovery from 27th Nov lows down at 110.84 having met a high of 113.75 in overnight trade. In Tokyo, USD/JPY was trading at 113.51, up 0.01% on the Asian day, having posted a daily high at 113.59 and low at 113.49.03:46 13 December /2017 Forex

AUD/USD: bid on big beat consumer confidence, awaiting FOMC/CPI/Aussie jobs Ross J Burland

AUD/USD was a fade from the high of 0.7580, ending at 0.7559 in NY from a low of 0.7519. AUD/USD is trading at 0.7559, down -0.03% on the day, having posted a daily high at 0.7564 and low at 0.7553.In the absence of much else, the focus was on the recently released Westpac consumer confidence data that was a big beat in ear...

03:00 13 December /2017 Forex

Consumer confidence surprised to the upside - Westpac Ross J Burland

Analysts at Westpac explained that the consumer confidence was a surprisingly strong result and confirms the lift we have seen in the Index over the last three months. Key Quotes:"The Westpac Melbourne Institute Index of Consumer Sentiment rose 3.6% to 103.3 in December from 99.7 in November.""The average reading for the Index in the December quarter is 5% above the average for th...

03:00 13 December /2017 Forex

A mixed day in New York ahead of FOMC - ANZ Ross J Burland

Analysts at ANZ explained that Global equities rose, the US dollar was mixed, and treasury yields lifted after some further solid data and ahead of some key central bank decisions over the next day or so. Key Quotes:"European bourses were led higher by the CAC 40, which recorded a 0.8% gain, while other regional indices added around 0.5-0.6%. In the US, the DJIA and S&P 500 ar...

02:23 13 December /2017 Forex

Never mind FOMC, hat about CPI? - Nomura Ross J Burland

Analysts at Nomura expect core CPI in November to increase 0.2% (0.174%) m-o-m, a slight deceleration from October’s 0.225%, but keeping the y-o-y rate unchanged at 1.8% (1.765%). Key Quotes:"For November, core goods prices likely increased modestly, supported by another increase in used vehicle prices partly boosted by hurricane-related demand. In addition, the recent stabilizati...

02:23 13 December /2017 Forex

NZD/USD: stuck at familiar resistance before FOMC

The Kiwi was mostly holding gains from the 10th Dec rally to 0.6952 recent highs in the NY session and is at a standstill in the early Asian shift. Currently, NZD/USD is trading at 0.6933, down -0.08% on the day, having posted a daily high at 0.6941 and low at 0.6932.FOMC meetin...

01:46 13 December /2017 Forex

RBA's Lowe: Australian's to hold bulk of money in bank deposits Ross J Burland

RBA's Lowe is speaking at an event entitled, "An electronic Aussie" with an address to the 2017 Australian Payment Summit. While there is nothing on monetary policy,  he says that there is no case yet for issuing Australian dollars on blockchain for use with limited private systems, although adding that any form of electronic Australian dollar would best be issued by the RBA.Some key notes...

01:46 13 December /2017 Forex

WTI recovers to mid-$57s in post-settlement trade after API data Eren Sengezer

 Crude oil prices retraced a portion of the daily losses after the API data showed a larger-than-expected draw in crude oil stocks in the United States. As of writing, the barrel of West Texas Intermediate was trading at $57.50, still down 0.8% on the day."Crude inventories fell by 7.4 million barrels in the week to Dec. 8 to 444.4 million, compared with analysts' expectations for a decrease of 3....

01:00 13 December /2017 Forex

Forex today: awaiting FOMC, strong PPI data, dollar better bid, yields up Ross J Burland

Forex today was all in anticipation of the FOMC outcome with a broadly higher dollar while the last bit of data before the announcements came in the form of a PPI beat that gave us the strongest YoY rate in 6 years.The DXY was closing at the higher end of the range for Tuesday, between 93.7590 - 94.2190, ending at 94.068 for the day, +0.22%. US rates, in the ten years up to around 2bps to 2.41% an...

00:46 13 December /2017 Forex

DJIA and S&P 500 extend gains for the second straight session ahead of FOMC Eren Sengezer

Major equity indexes in the United States started the day on a positive after the upbeat PPI data certified the increasing economic activity and extended their gains ahead of tomorrow's crucial FOMC meeting.Sharing his remarks on today's data, “from an economic perspective, we...

00:23 13 December /2017 Forex

Mexican Industrial Production: Not a good start for the last quarter - Wells Fargo

According to analysts from Wells Fargo, the strong improvement by mining output, up 4.7% sequentially, was not enough to prevent further weakening in industrial production in Mexico during October. They noted that manufacturing weakened for a second consecutive month. Key Quotes: “The Mexican industrial production index was down 0.1 percent sequentially in October, after a decline...

23:46 12 December /2017 Forex

Crypto Today: Coinbase suspends litecoin and ethereum trading

Following the introduction of bitcoin futures trading by the CBOE on Monday, surging transaction fees and processing times of bitcoin pushed investors to alternative digital currencies on Tuesday. Ethereum and litecoin advanced to fresh all-time highs while bitcoincash added more than 10%.The LTC/USD (litecoin) pair doubled its price as it rose above the $400 mark after starting the day near the $...

23:46 12 December /2017 Forex

USD/CAD: bull's last efforts in NY capped at familiar top side Ross J Burland

USD/CAD spiked on the back of oil but has run into some offers into the close. Currently, USD/CAD is trading at 1.2872, up 0.13% on the day, having posted a daily high at 1.2894 and low at 1.2812.FOMC Preview: big noise, little substance?USD/CAD managed a push over the 1.128...

23:46 12 December /2017 Forex

USD/MXN keeps rising above 19.00 ahead of Fed and Banxico Matías Salord

The Mexican peso is among the worst performers on Tuesday, ahead of the FOMC and Banxico meetings. USD/MXN is rising for the fifth day out of the last six trading days. Yesterday it closed slightly above 19.00 and today rose further. It peaked at 19.22, reaching the highest level since November 16. It was hovering around 19.16, up 3% over the month. USD/MXN is ba...

23:23 12 December /2017 Forex

Sen. Maj. Leader McConnell: There isn't any chance we are going to shut the government down Eren Sengezer

The US Senate Majority Leader Mitch McConnell crossed the wires in the last minutes, saying that there was no chance they would shut the government down, as reported by Reuters.

22:46 12 December /2017 Forex

USD/JPY fails to preserve bullish momentum, returns to mid-113s Eren Sengezer

After spending the majority of the day moving sideways in a very narrow 20-pip band on Tuesday, the USD/JPY pair gained traction in the first half of the NA session and advanced to its highest level in nearly a month at 113.75 before losing its momentum. As of writing, the pair was trading at 113.53, virtually unchanged on t...

22:23 12 December /2017 Forex

GBP/USD drops to 1.3300 ahead of UK jobs report and FOMC Matías Salord

The GBP/USD continued to slide during the US session after being rejected from above 1.3360. The pair reached 1.3300, the lowest level in a week and it was trading at 1.3305/10, headed toward the third decline in-a-row.  The recovery of the pound was short-lived. On European hours, the pair dropped toward 1.3300 following the release of UK CPI data. The annual rate...

22:00 12 December /2017 Forex