Germany’s Factory Orders Declined At Its Fastest Pace In Seven Months In January
For the 24 hours to 23:00 GMT, the EUR rose 0.42% against the USD and closed at 1.1242 on Friday. On the macro front, Germany’s seasonally adjusted factory orders unexpectedly fell 2.6% on a monthly basis in January, amid drop...
China Weekly Letter: Trade Deal to Face Hurdles Close to the Finish Line
Trade deal to face hurdles close to the finish line, but deal is still coming NPC lowers growth target to 6-6½% and announces large-scale tax cuts Chinese stocks take a beating after sharp rally and Citic sell recommendation We are...
Weekly Economic and Financial Commentary: Labor Market Slowing but Still Strong
U.S. Review Labor Market Slowing but Still Strong Nonfarm payrolls came in well below expectations, as employers added 20K new jobs in February after adding 311K in January. The three-month average gain of 186K is still rather strong, but marks...
The Weekly Bottom Line: It’s a Hard Knock Life for Central Bankers
U.S. Highlights This week started off on an upbeat note. An uptick in the ISM non-manufacturing index got the ball rolling, with the headline rising by 3.0 points to 59.7 in February. In a nice twist to the recent doom...
Week Ahead: Meaningful Brexit Vote 2.0
Renewed demand concerns weighed heavily on equities and, to a lesser degree, crude oil prices, while the euro and Canadian dollars nosedived in what has been a very volatile week, as investors responded to generally disappointing macro data and dovish...
GBP/USD Dips to 1.30 as UK Reportedly Rejects the EU’s Latest Brexit Offer
Just hours ago, my colleague Fawad Razaqzada noted that “it was not clear whether any real progress was made by Britain and the European Union in reaching an accord.” While there haven’t been any official statements, much less votes, the...
GBP/USD Pound Fails to Capitalize on Dollar Stumble Ahead of Brexit Votes
The US dollar is lower against most majors pairs on Friday after a massive miss in the U.S. non farm payrolls (NFP) report. The US economy only added 20,000 jobs when the forecast was calling for 180,000. Weather factors and...
Sterling Falls Below 1.3000 after the UK Reportedly Rejects the EU’s Latest Proposals on the Backstop
The British pound extended declines against the dollar after the UK reportedly rejected the EU’s latest offer on the backstop. Earlier reports suggested the EU offered that they would allow the Irish backstop to apply only to Northern Ireland and...
With a Brexit Extension in Sight, What’s the Outlook for Sterling?
The coming week will be a crucial one for the Brexit process, as the UK Parliament will finally have a chance to vote for an extension of the exit date. Alas, even if that happens, such a delay would only...
Australia & New Zealand Weekly: RBA’s Likely Rate Cut Strategy
Week beginning 11 March 2019 RBA’s likely rate cut strategy. Australia: Westpac–MI Consumer Sentiment, housing finance, NAB business survey, RBA Deputy Governor Debelle speaks. NZ: retail card spending. China: fixed asset investment, retail sales, foreign direct investment. Europe: CPI, industrial...
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