The US Dollar Recovered Some Losses. Geopolitical Events Are Still In The Spotlight
Yesterday, the US dollar strengthened against a basket of major currencies. Positive economic data supported the US currency. Initial jobless claims fell to a 40-year low (196K), while experts expected 211K. The producer price index rose by 0.6% in March...
MAS Goes Into Neutral
MAS goes into Neutral This week FX volatility faded further, credit spread tightened while US stocks headed towards 2900. Major central banks issued warning and IMF reduced outlook. Normalization is now a thing of the past for the G10. Despite...
EUR/USD – Euro Jumps To 3-Week High As German Inflation Remains Steady
EUR/USD has reversed directions in the Friday session, after slight losses in the Thursday session. Currently, the pair is trading at 1.1311, up 0.50% on the day. On the release front, there are no major German or eurozone events. The...
Q1 Earnings Season: A Helping Hand or a Hand Out?
The time for the earnings season is coming again this Friday but unlike preceding releases, the S&P 500 companies are expected to have had a negative ride year-on-year in Q1 2019 for the first time since Q2 2016, with Refinitiv data suggesting...
US Data Shines, But Pound Unmoved
GBP/USD has ticked lower in the Thursday session. In North American trade, GBP/USD is trading at 1.3081, down 0.06% on the day. There are no British indicators on the schedule. In the U.S., key indicators were strong. PPI climbed 0.6%,...
Markets Continue to Kick the Can Down the Road
The main market theme of ‘kicking the can’ down the road continues. The likely Brexit delay will not be solving the underlying problem any time soon. The UK and the EU have agreed a “flexible extension” of Brexit until 31...
Central Bank Subtleties
Key messages from the Fed and ECB were delivered in completely different fashion on Wednesday, with important implications for the market. The EU has decided to extend Brexit til October 31st, a proposal that will have to be approved by...
Fed Minutes Show Increasing Comfort with Patience
The minutes from the FOMC’s March 19-20 meeting showed Fed members’ increasing comfort with their patient approach to monetary policy. This is justified by an outlook for economic growth that is slowing to a rate close to estimates of longer-run...
ECB Confirm Wariness, Deposit Rate Debate In Early Stages
The April ECB meeting was a quiet one. Given that it occurred only 35 days after the March meeting, when a significant dovish shift took place, very few had high expectations for an exciting April ECB meeting (a non-projection meeting)....
British Pound Gains Ground Higher as GDP Matches Forecast
GBP/USD has moved higher in the Wednesday session. In North American trade, GBP/USD is trading at 1.3085, up 0.26% on the day. On the release front, the monthly GDP release posted slight gain of 0.2%, matching the estimate. There was...
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