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LMAX Group blog - FX industry thought leadership

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  • Third Time’s a Charm?

    Monday’s economic calendar is thin and most of the price action we’re seeing as the week gets going, is a catch up reaction to the way things settled on Friday, with the Buck selling off a bit, and global equities firmer. Audio update

  • BOJ Decision, Soft US Dollar, Pound Outperformance

    If we look at the performance in the major currencies since the weekly open, with the exception of the Pound, all are confined to well within 1% of weekly opening levels. Still, the broad direction has been Dollar bearish, perhaps having something to do with the softer round of inflation data out of the US […]

  • Towards A More Palatable Brexit Uncertainty

    The early Thursday round of China data hasn’t had much influence on financial markets after the data came in mixed overall. Global equities have been resilient in 2019, though we have seen the emergence of selling pressure in recent days. Looking ahead, we get German CPI, US initial jobless claims and new home sales. Audio […]

  • Trade Talks Decidedly Less Upbeat

    There has been a lot of fluffy positive talk around US-China trade deal progress, though the reality appears to be much different. On Tuesday, we heard from the US trade representative, who said the outcome of US-China trade talks remains uncertain with “major, major issues that have to be resolved.” UK vote to reject no-deal […]

  • Will this Brexit Deal be Good Enough?

    The Pound has been well bid into Tuesday, after the late Monday news the UK and EU have agreed on a legally binding amendment to the Irish backstop. Attention now shifts to the anticipated UK vote, to see if this new deal will be good enough to pass. Today’s economic calendar features first tier UK […]

  • Dollar Stumbles Post NFPs, Powell Interview

    We’re coming out of a Friday session of trade that did a good job knocking the US Dollar back down against most currencies, with the discouraging NFP print fueling most of the Buck’s declines. This was also accompanied by more risk off flow, which accounted for the Yen gains and a US equity market that […]

  • Where we’re at as the week winds down

    We’re into the month of March as the week comes to a close. Looking at the overall price action since the weekly open, it’s been a mixed bag, with the Pound, Euro and Swiss Franc up against the Buck, while Cad, Aussie, Yen and Kiwi are lower. Plenty of economic data out on Friday across […]

  • Risk correlated markets turn down

    Optimism around a US-China trade deal has been scaled back in a big way since the weekly open. This has invited downside pressure in the equity markets, while softer China PMI reads are adding to the deterioration in sentiment. On the FX front, the Pound continues to outperform on the significant reduction in tail risk […]

  • US Dollar Under Pressure into Wednesday

    We’re into the middle of the week and looking at the more actively traded currencies, there’s a clear trend of broad based demand against the Buck. The Pound stands out above all right now, continuing to benefit from the pricing out of no deal Brexit in March. Today is the second day of Fed Chair […]

  • Pound Extends Run, Powell Testimony Ahead

    Brexit headlines have been increasingly favorable for the Pound, with that risk of a no deal outcome continuing to fade away. Meanwhile, President Trump continues to shake up risk markets. Plenty of central bank risk on today’s calendar, with Fed Chair Powell testimony highlighting the docket. Theresa is also slated to speak. Audio update

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