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We’re into a new month as the week comes to a close and it’s been a rather busy week as far as event risk goes. The market continues to digest the latest Fed communication and will now look ahead to today’s monthly employment report, which is expected to command most of the attention. read report
We had said economic data ahead of Thursday’s Fed decision wasn’t going to mean all that much, and this proved to be the case, with all of the positive US Dollar momentum from a solid round of US GDP data fizzling out after the Fed Chair said the central wasn’t thinking of raising rates. read report
Wednesday’s calendar is quite active, though at the same time, market participants won’t be wanting to get too aggressive to any releases on the economic calendar, with the Fed decision hanging in the balance. read report
We’ve got a Fed decision tomorrow, BOJ decision Thursday and the monthly employment report out of the US on Friday. We’ve also got some end of month flow that should factor into volatility tomorrow and Thursday. But for now, things are stable in the world of FX, with market participants well aware of what lies ahead. read report
We’re off to a quiet start as things get going on Monday. Overall, there continues to be optimism around US-China trade deal prospects, which has been helping to prop up risk sentiment. At the same time, there is plenty of risk in the week ahead. read report
The market was worried about the US Veep’s speech on China, but in the end, Mike Pence struck a balanced chord, talking tough on human rights and IP, but also stressing the US wasn’t seeking to decouple from China. Looking ahead, the calendar is rather light on this Friday, with only some German reads and US Michigan sentiment standing out. read report
Today, we get three central bank decisions, with the Riksbank and Norges Bank delivering monetary policy verdicts along with the headline ECB decision. Over in the UK, the market will continue to monitor Brexit updates, and on the trade front, there's nervous tension ahead of US Veep Pence's speech on China. read report
We’ve seen a downturn in sentiment into Wednesday with financial markets feeling the pressure of renewed concern associated with Brexit, and softer corporate earnings results out of the US. The Euro is settling in ahead of Thursday's anticipated ECB decision, which will also be Draghi's last. read report
Headlines around the major drivers of global sentiment have been positive of late, with the market feeling better about the significantly reduced prospect for a disorderly Brexit, and more optimistic about a US-China trade deal. read report
Monday’s open in the Pound could have been far more dramatic, with any uncertainty now likely to be resolved during market hours, thanks to the Letwin amendment. We were heading into the weekend with it looking like the Pound would either rocket or collapse on the Monday open, as it reacted to the parliament vote on Boris Johnson’s Brexit deal. read report
