Saturday, July 11, 2020
FX markets were a tad bouncy during the New York session.  UK politics, Middle East tensions and month-end portfolio flows led to good two-way dollar demand. Widen spread May Day holidays across the globe suggest FX volumes will be...
Happy Monday.  China is closed for Labour Day and Japan is closed for Showa Day and Wednesday is the Federal Open Market Committee meeting.  (FOMC) which suggests a subdued trading session for Asia markets. Friday, New York closed with the...
The ECB held rates steady and stuck with their ultra-easy monetary policy.  That wasn’t a surprise.  The surprise came during the press conference.  Mr Draghi admitted that “monetary policy wasn’t discussed, per se.”  He did not offer any clues...
Wednesday is shaping up to be a quiet trading session and may be even more subdued in Asia due to a lack of economic data and holidays.   Both Australian and New Zealand are close for ANZAC Day holidays. FX markets...
Bank of Japan Governor Haruhiko Kuroda gave USDJPY a lift.  In an interview with CNBC, he said "In order to reach 2 percent inflation target, I think the Bank of Japan must continue very strong accommodative monetary policy for...
The US dollar surged in overnight action, led by a “mini” collapse in GBPUSD.  Sterling dropped from 1.4219 to 1.4162 in London, after another weak economic report.  UK Retail Sales fell 1.2% m/m in March.  The forecast was for...
Sterling got clobbered when a series of UK economic reports were weaker than expected.  UK March CPI rose 2.3%, y/y below the forecast of a 2.5% gain.  Core CPI prices missed as well, rising only 2.3%, y/y below the...
New York opened with the European based currencies plunging, thanks to a mix of Central bank speak, and weaker-than-expected economic reports. EURUSD dipped following the UK data, and the dip accelerated after a disappointing German ZEW survey and a soft...
A late winter storm and a major one at that, rattled the Northeastern US and Canada, bringing snow, ice, rain, and high winds to the area.   And it probably put traders in a bad mood when they got to...
FX markets were looking for the monthly US inflation report to provide fresh support for higher US interest rates.  What they got was another piece of major data that was “inconclusive.”  March CPI fell 0.1% instead of being flat...

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