Boeing’s 737 Max could single-handedly hit US GDP if production is halted, JP Morgan says
A production halt of Boeing’s 737 Max jets could be felt well beyond the aerospace giant’s quarterly profits, according to J.P. Morgan. Michael Feroli, the bank’s chief U.S. economist, said in a note to clients that annualized U.S. GDP could...
The bond market is flashing its biggest recession sign since before the financial crisis
Federal Reserve Chairman Jerome Powell’s assertion this week that the U.S. economy remains strong is facing a stern test from the bond market, which showed a classic recession sign Friday morning. Short-term government fixed income yields are now ahead of...
EUR/USD Drops to Key Support
The US dollar pared losses following yesterday’s dovish FOMC meeting, with the EUR/USD easing back below 1.14 handle after almost reaching 1.1450 the day before. This popular currency pair has now reached the point of origin of yesterday’s breakout at...
Eurozone PMIs Could Dictate Euro’s Near-Term Path
The Eurozone will be on the receiving end of preliminary PMIs for March on Friday, at 09:00 GMT. Economic growth has slowed drastically lately, leading the ECB to redeploy its ‘shock and awe’ tactics, and push back the timing of...
EURCHF Finds Support Near 23.6% Fibonacci Again; Consolidates in Short and Medium Term
EURCHF has been trading in a relatively narrow range between 1.1385 and 1.1305 from late January onwards, while the past few days the market action has stretched further below the 20- and 40-day simple moving averages (SMAs). Momentum oscillators are...
Pound Under Pressure as May Requests Article 50 Extension
GBP/USD has posted slight losses in the Thursday session. In North American trade, the pair is trading at 1.3165, down 0.22% on the day. On the release front, British retail sales posted a gain of 0.4% in February, compared to...
Europe FX Handover
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Dollar Recovering Post FOMC Loss, BoE and SNB Shrugged
Dollar is trying to recover some of the steep losses triggered by much more dovish than expected FOMC economic projections. The greenback is now trading mixed for the day, and it’s indeed up against Sterling and Canadian for the week....
BOE Left Policy Unchanged. Next Move Depends on Brexit Outcome
BOE voted unanimously to leave the Bank rate unchanged at 0.75%, and the asset purchase program at 435B pound, in March. Dataflow during the inter-meeting period was mixed, while the Brexit outlook has become even less certain. The members indicated...
Dollar Mixed as Fed Rally Fizzles
Fed – Markets are still processing Fed decision EUR – Euro falls as German bunds target zero BOE – Unchanged on Interest Rate (vote 9-0) Oil – Softer on profit-taking Gold – Support from dovish Fed, Brexit and Trade risks...