• Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and MXN

    The market's appetite for risk is strong at the start of a week that will see rate decisions from the world's major central banks including the BoC, the ECB, the BoE, the RBNZ and the RBA. Both the ECB and the RBA are expected to cut rates by 25bps. This week should be relatively quiet in terms of US data releases. This morning the Institute for Supply Management's nonmanufacturing index fell to 52 in November from 52.9 a month earlier.
  • Weekly Summary on USD, EUR, GBP, JPY, AUD, CAD and MXN

    The US returns from the Thanksgiving holiday with early reports suggesting that Black Friday, the busiest shopping day of the year, proved robust. According to ShopperTraK, sales rose an estimated 6.6% to total of $52.4 billion on Black Friday, providing another sign that the US economy is holding up relatively well.
  • Weekly Summary in USD, EUR, GBP, JPY, CAD and MXN

    Fragile investor confidence in global sovereign debt was dealt another blow overnight by reports that the US Super Committee has failed to reach an agreement on plans for budget cuts totaling at least USD1.2 trillion. The failure to reach an agreement between the Republicans and Democrats should result in the imposition of automatic cuts to domestic and defense spending totaling USD1.2 trillion, which are set to take effect from 2013.
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and MXN

    The US dollar finished last week on a firm note primarily due to the European troubles that are permeating across the financial market. Global financial markets started the week in a risk-averse mode, with equity indices in the red and the safe-haven JPY and USD generally gaining. This past weekend's G7 meeting yielded no new policy measures and market participants are voicing their concerns in the sovereign debt markets with record yields for Greece and a poorly performing bill auction in It...
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and MXN

    The USD begins the week higher against nearly all of its major counterparts as a renewed wave of risk aversion overtakes global markets, and as the US's fiscal struggles fall to the wayside with European debt once again coming into the spotlight. After last Friday's abysmal jobs report in the US that showed the labor market stagnating in August, global financial markets have been hard hit with the DJIA and S&P both starting the trading week down nearly 3%. Investors have thus turned to the...
  • A Look at the USD-Schizophrenia and CAD-Weakness After NFP Shows No Employment Growth

    The NFP Payroll numbers came in worse than expected - 0 after a forecast of 74K. July's number was revised down from 117K to 85K. This data definitely invites risk aversion, but the reaction for the USD was schizophrenic. After initial strength, USD -weakness took over, only to now result in a third reaction back to USD-strength. The CAD (which suffers if USD suffers) however is holding it's weakness without such shake-outs.
  • Weekly Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and NZD

    This week's economic data releases will be fairly modest, yet, subject to considerable scrutiny, given that the renewed risk aversion and selloff of the stock markets at the end of last week. All eyes will be on Fed Chairman Ben Bernanke speaking at an annual conference in Jackson Hole, WY Friday. Investors are hopeful that his speech will shed some light on the scope for further quantitative easing over the coming months. Tomorrow, data for new home sales are due. After last week's gloomy...
  • NORTH AMERICAN FOREX OPEN - USD, EUR, GBP, CAD, AUD, NZD

    NORTH AMERICAN FOREX OPEN - USD, EUR, GBP, CAD, AUD, NZD
  • Weekly Forex Summary on USD, Euro, Yen, GBP, CAD, AUD and MXN

    After last week's USD weakness - it slipped from 1.3387 to 1.3621 against the EUR - we are anticipating a more neutral week and a period of consolidation. This week could prove to be key in terms of setting the tone for US markets, with the FOMC holding its first policy meeting of the year on Wednesday, and advance Q4 GDP data due for release on Friday. No major changes to the Fed's stance are expected, despite the fact that the annual rotation of voting members has meant a shift in a more...
  • Weekly Foreign Exchange Market Summary

    USD - Last week ended with another positive earnings session for corporate America that lifted U.S equity markets with the Dow Jones Industrial finishing Friday's session up 1% taking the week's gains to 3.2%. This morning, the USD declined against most of its counterparts as a bigger-than- forecast increase in new home sales of 330K encouraged demand for riskier assets. Given the increasing focus on the possibility of a double dip recession in the US, markets will be keeping a very close eye on...
  • Weekly Foreign Exchange Market Summary

    America's currency has been whipsawed by global risk trends and US monetary policy outlook throughout this year, though the underlying sentiment is now ostensibly in favor of the greenback. The USD has maintained its appeal as a safe haven-particularly with the uncertainty surrounding the fiscal crises plaguing Greece, Portugal, and Spain-while concomitantly garnering interest amongst speculators for interest rate yield potential. Notwithstanding the Fed's recent communiqué that it would leave...
  • The Week Ahead

    FX markets continue to fluctuate broadly in recent ranges, turning with every twist in the ongoing Greek drama. Risk saw higher in the beginning of the past week as EU leaders appeared to be in agreement on a plan to provide an aid package to Greece. Then the German government indicated it could not legally support such a plan and that Greece should seek aid from the IMF, sending EUR/USD and most other risk assets lower into the end of the week. Then on Friday, EU Commission President Barroso co...
  • Daily Foreign Exchange Market Summary

    The US dollar is modestly lower today as market concerns over a potential debt default by Greece eased. The dollar rose vs. most of the major currencies as investor concern about Greece heightened risk aversion, and on US positive economic news. Retail sales rose a higher than forecast 0.5% in January, while an employment trends report rose by an above forecast 93.2, raising optimism that the economic recovery remains on track. The dollar was also boosted after Fed Chairman Bernanke said in Cong...
  • Weekly Foreign Exchange market Summary

    This morning America's currency continues to ride the wave of bullish sentiment that began early last week, rising to multi-week highs vis-à-vis its major world counterparts, namely the EUR ($1.4599) and GBP ($1.6190).
  • Weekly Foreign Exchange market Summary

    Significant data releases and a holiday-thinned market last week conspired to create heightened volatility for currency markets, and in particular, the US dollar. A series of sanguine economic data sparked investor risk appetite, causing the greenback to lose ground leading up to the Thanksgiving holiday: Consumer Confidence (49.5 in Nov. vs. 47.3 exp.); Initial Jobless Claims (466K for 11/21 vs. 501K prior); U. of Michigan Confidence (67.4 in Nov. vs. 66.0 prior); Q3 GDP (2.8% vs. 2.8% exp.). H...
  • Daily Foreign Exchange Market Summary 30/11/2009

    Significant data releases and a holiday-thinned market last week conspired to create heightened volatility for currency markets, and in particular, the US dollar. A series of sanguine economic data sparked investor risk appetite, causing the greenback to lose ground leading up to the Thanksgiving holiday: Consumer Confidence (49.5 in Nov. vs. 47.3 exp.); Initial Jobless Claims (466K for 11/21 vs. 501K prior); U. of Michigan Confidence (67.4 in Nov. vs. 66.0 prior); Q3 GDP (2.8% vs. 2.8% exp.). H...
  • Weekly Foreign Exchange market Summary 24/11/09

    America's currency managed to close out last week higher against its major world counterparts, though the ephemeral rally quickly lost steam this morning on the back of dovish Fed rhetoric. A battery of key data last week, though somewhat mixed, nevertheless undergirded the dollar, bolstering sentiment that a nascent economic recovery in the US was well underway: Empire Manufacturing (23.51 in Nov. vs. 34.57 prior); Inflation Data (PPI: 0.3% in Oct. vs. -0.6% prior; CPI: 0.3% in Oct. vs. 0.2...
  • Weekly Foreign Exchange market Summary 27/10/09

    The greenback had another mixed performance last week as it steadily lost ground against the EUR and GBP-breaching the critical $1.50 level versus the former-while recouping previous losses vis-à-vis the JPY and CAD. The undulating dollar was whipsawed by risk sentiment, and the continuing carry trade phenomenon in which investors borrow in the low yielding USD to fund their investments in other higher-yielding currencies and assets.
  • Daily Foreign Exchange Market Summary 26/10/2009

    The greenback had another mixed performance last week as it steadily lost ground against the EUR and GBP-breaching the critical $1.50 level versus the former-while recouping previous losses vis-à-vis the JPY and CAD. The undulating dollar was whipsawed by risk sentiment, and the continuing carry trade phenomenon in which investors borrow in the low yielding USD to fund their investments in other higher-yielding currencies and assets.
  • Weekly Foreign Exchange market Summary 21/09/2009

    The loonie reached a year-to-date high of 1.0599 vs. USD, breaking the psychological 1.06 barrier last Thursday after opening above 1.09 (1.0921 high) on Monday's session opening. This was in virtual lock-step with crude oil, which traded between $68.10 - $72.96, respectively.

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