Dollar Mixed as EU Trade Spat Escalates
The US dollar is mixed against major pairs. Safe havens like the Swiss franc, Japanese yen and the euro have gained against the greenback, while the Canadian and New Zealand dollars along with the pound are lower. Strong data in...
Week Ahead – Eurozone and US Inflation Eyed; RBNZ Meets; Low Hopes for Brexit Deal at EU Summit
Inflation data will be watched in the Eurozone and the United States as both countries make progress towards their price targets. GDP numbers will also be in focus as final estimates are released in the US and the United Kingdom,...
Australia & New Zealand Weekly: Global Growth Risks to the Fore, But Opportunity Lingers on the Horizon
Week beginning 25 June 2018 Global risks to the fore, but opportunity lingers on the horizon. Australia: private sector credit. NZ: RBNZ policy decision, business confidence, building consents. China: National PMIs. Europe: EU Summit, CPI, business surveys. US: PCE inflation,...
Weekly Focus: Trade War Risk is Increasing
Market Movers ahead The next scheduled date for the trade disputes is 30 June, where the US government is set to announce plans for restricting Chinese investments. The European Council meeting on 28-29 June will be important for whether the...
OPEC Agrees to Hike Output
OPEC today agreed to increase output by 1mb/d to reduce ‘over compliance’ with the current output agreement. The price on Brent crude rose above USD75/bbl on the news, as the market had feared OPEC would agree to larger output hike....
Canadian Retail Sales Drop Sharply in April
Highlights: Retail sales fell 1.2% in nominal terms and 1.4% excluding the impact of prices in April Much of the weakness came from a big pullback in auto sales in Ontario that was probably weather-related. We are tracking a flat...
Oil Stays Bullish as OPEC Seen Near Agreement; Euro Cheers on Upbeat PMIs
Here are the latest developments in global markets: FOREX: Dollar/yen was posting moderate gains on Friday, inching up to 110.14 (+0.14%) as uncertainties around US-Chinese trade relations were still high. The two giant world exporting economies exchanged additional threats of...
Canadian Dollar Edges Higher ahead of CPI, Retail Sales
The Canadian dollar is showing slight gains in the Friday session. Currently, USD/CAD is trading at 1.3279, down 0.28% on the day. On the release front, Canada will publish key consumer data. CPI, the primary gauge of consumer spending, is...
BOE Recap: Beaten-Down GBP/USD Grows Hawkish Wings
As is often the case with central bank meetings in the era of communication-as-a-policy-tool, the Bank of England’s “decision” (read: no change) on interest rates was already telegraphed well in advance. But for the always forward-looking markets, there was still...
British Pound Gains Ground on Hawkish BoE Stance
The British pound is almost unchanged in the Thursday session. In North American trade, GBP/USD is trading at 1.3253, up 0.62% on the day. On the release front, Britain’s budget deficit narrowed to GBP 3.4 billion, well below the estimate...
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