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New Updates on Brexit, US-China Trade
The Pound has opened up relatively unchanged despite some headlines over the weekend that suggested more volatility on the open. On the US-China trade front, markets are feeling better about the fact that President Trump announced he would delay raising tariffs on Chinese goods on account of productive talks. Audio update
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Mixed messages from FX market this week
Some currencies have outperformed against the US Dollar this week, while others have stumbled. But as we head towards the weekly close, everything is pretty much in the vicinity of where we started the week, with all of the major currencies confined to within 1% of weekly opening levels against the Buck. Audio update
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Aussie Hit on Escalating Tension with China
Tension between Australia and China has been making headlines, and Aussie has suffered for it on Thursday. China has just banned coal imports at one of its ports and has also announced a cap on total coal imports for 2019. While the ban applies to Australia, coal imports from Russia remain unaffected. Audio update
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Theresa May Still Trying to Work it Out
We come into Wednesday with the US Dollar mostly under pressure and the Pound outperforming. The Dollar weakness has confounded many, especially after Tuesday’s run of Euro data left much to be desired. Looking ahead, we get Eurozone consumer confidence and the Fed Minutes later in the day. Audio update
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US back from holiday, UK data digested
No drama from the early Tuesday RBA Minutes, with most of the excitement around Aussie central bank risk already happening the other week. We have seen a little selling in the Yen on Tuesday, with many pointing to the dovish comments from BOJ Kuroda who talked about what could cause the BOJ to consider further […]
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Lighter Monday volume with US out on holiday
US markets are closed for the Presidents’ Day holiday today and this will make for lower volumes to start the week. The US Dollar came back under broad pressure to end the week and this has carried over in early Monday trade. There is no first-tier data scheduled for release on the Monday docket. Audio […]
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Plenty of uncertainty into the weekly close
We’re into Friday and looking at the scorecard since the weekly open, it’s the New Zealand Dollar that stands out, up about 1.25% since things got going on Monday, while the Pound sits on the other end of the spectrum, down about 1% on the week. UK retail sales, Eurozone trade and US industrial production […]
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US-China Trade Talks Command Spotlight
The market hasn’t had time to be impressed with solid China trade data, with most of the focus on the world of the political and updates out from the US-China trade talk front. Technically speaking, we’re at a critical inflection point, with the Euro hovering just above the 2018 low against the US Dollar. Audio […]
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Break of a bearish sequence
Over the past several months, Euro setbacks have been repeatedly propped up against the US Dollar. Tuesday’s bullish reversal has set the stage for yet another bounce, after the single currency took out Monday’s high, ending a sequence of seven consecutive daily lower tops. Audio update
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Back at a critical inflection point
We’ve talked a lot about the choppy, directionless nature of markets and how despite the latest run in the Dollar, there haven’t been any major breaks at this stage, that would suggest we’re at the end of the line as far as the chop goes. Appearances from BOE Governor Carney and Fed Chair Powell are […]