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Dollar Retreats as US Government Opens Back Up
The US Dollar has come back under pressure across the board and is down against all of the more actively traded currencies over the past week. The catalyst for the move has come from the news of the end of the longest government shutdown on record in US history, with risk markets feeling better in […]
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US Dollar Still Vulnerable Post ECB
Thursday’s ECB event risk is behind us and although the Euro suffered in the aftermath, the setbacks were marginal and the central bank did not let down our expectation that it would lean to the more downbeat, dovish side of things. Looking ahead, Friday’s calendar is light and will the focus on bigger picture macro […]
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Volatility Expected to Pick Up on Thursday
If you’re thinking about the major currencies this week and feeling like we haven’t seen anything, you’d be right, so long as we’re not talking about the Pound. The Pound has been doing its own thing, up towards 1.5% since the weekly open. All of this can be reconciled by a market pricing out that […]
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Risk sentiment and Pre-ECB Euro positioning
US economic adviser Kudlow has attempted to calm investor nerves after rejecting reports trade talks with China were called off due to lack of progress. Kudlow went on to say that month-end talks would be “very very important” and “determinative.” Canada retail sales is the standout first tier data release on Wednesday. Audio update
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Investors swimming to safer waters
Risk liquidation is the theme into Tuesday, with safe haven currencies outperforming and global equities turning down. Markets are back to full form today, after the US had been on holiday for MLK Day. Looking at the calendar, we get UK employment data, German and Eurozone ZEW surveys, Canada manufacturing sales and US existing home […]
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Thinner Monday Trade on MLK Day
Economic data out of China came in solid in early Monday trade, though this has failed to inspire additional demand for risk assets. It seems a combination of profit taking from last week’s run and faded optimism around US-China trade talks, have been offsetting. Audio update
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Pound Bid Despite Uncertainty and Broad USD Demand
The currency market hasn’t been all that active this week overall, and into Friday, the more actively traded currencies are all within one percent of weekly opening levels. But with the exception of the Pound, all are tracking lower against the Buck. Audio update
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Little inspiration from China liquidity injection
We’re into the latter half of the week and things have been rather tame. The big event this week has already passed us by, with the Brexit vote behind us and Theresa May now working towards her Plan B that she’s scheduled to outline on Monday. Eurozone inflation readings and the Philly Fed stand out […]
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GBP demand post vote isn’t surprising – Here’s why
While there remains quite a bit of uncertainty in the aftermath of an overwhelming defeat of Theresa May’s Brexit deal, the worst defeat on record for a sitting UK government, this is an uncertainty that is far more palatable to the UK outlook than what could have been. Audio update
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Busy day ends with big risk in the UK
The UK House of Commons vote on Theresa May’s Brexit deal takes centre stage on Tuesday, though the vote won’t get going until 7pm London time. Heading into the vote, it’s widely expected May’s deal will be rejected. And yet, this has done nothing to stop the Pound from rallying to its highest levels since […]
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