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The news and analysis archive

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The news and analysis archive
EURUSD slips as ECB’s Lagarde served old wine in a new bottle; new forward guidance more dovish than the old

EURUSD slips as ECB’s Lagarde served old wine in a new ...

EURUSD was already under stress on Delta mutant (COVID) spikes and slower than expected economic recovery. On ‘Super Thursday’, EURUSD slips further after the ECB presser, which lo...

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23
Jul

European PMI Data, Canada and UK Retail Sales

In the FX markets the US dollar traded overall moderately stronger against other majors as also seen in the performance of the USDX. There were however some exceptions like the GBP...

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USDJPY edged down on mixed jobless claims report but it shows good progress of Fed’s maximum employment goal

USDJPY edged down on mixed jobless claims report but it...

·         Fed may signal QE tapering in July meeting- starting with MBS from Dec’21; UST from July’22 and gradual rate hikes from Dec’22 amid ‘substantially’ higher inflation and g...

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22
Jul

ECB Rate Decision, US Jobless Claims, Leading Indicator...

The weakness of the dollar could easily be observed also in emerging markets, where pairs like the USD/TRY or USD/ZAR continued moving lower, while a strong break lower from the re...

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Wall Street bounced back from Delta mutant low on suspected PPT/Biden intervention

Wall Street bounced back from Delta mutant low on suspe...

·         Infra stimulus and earnings optimism ·         Oil recovered from Delta and OPEC production hike low ·         Biden’s inflation and Fed remark indicates that Powell may ...

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21
Jul

EIA Oil Data, Coca-Cola, J&J and Daimler Earnings

While the US dollar continued appreciating against other major currencies with the exception of the CAD and JPY which stabilised after the recent market moves, in emerging markets ...

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Oil plunged on OPEC+ gradual production hikes and COVID mutant spikes; what’s next?

Oil plunged on OPEC+ gradual production hikes and COVID...

Oil (WTI-Sep) closed around 66.42 Monday, plunged almost -6.63% on OPEC+ gradual production hikes and COVID mutant spikes. Oil made a low around 65.63 for the 1st time since late M...

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20
Jul

US Building Permits, API Data, Netflix Earnings

The US dollar traded stronger against most other major and emerging market currencies on Monday, with rather few exceptions, like the USD/JPY rate, which hit a new seven week low. ...

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Yellen is quite concerned about hotter inflation and housing market; Fed/Powell may signal an imminent MBS QE tapering

Yellen is quite concerned about hotter inflation and ho...

The U.S. Treasury Secretary Yellen is now also concerned about hotter inflation and the housing market. On late Thursday, Yellen said in an interview that she sees ‘several more mo...

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19
Jul

NAHB Housing Index, Earnings by IBM and Tractor Supply

The dollar moved higher on Friday, posting its largest weekly gain in one month with the USDX touching monthly highs last seen in April. The boost in the dollar came following upbe...

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Dow stumbled from 35K record high on increasing concern about COVID Delta mutant and Bidenflation

Dow stumbled from 35K record high on increasing concern...

The U.S. stock market stumbled from a record high Friday on increasing concern about COVID Delta mutant (in Europe as well as parts of America) and Bidenflation. Dow also tumbled a...

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16
Jul

EU CPI, Trade Balance, US Retail Sales and Consumer Sen...

Despite the strength of the dollar against most other major currencies as seen in the move of the USDX, emerging market currencies traded overall quite stable against the greenback...

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Wall Street slips as reflation optimism may turn into stagflation skepticism of the 1970s

Wall Street slips as reflation optimism may turn into s...

·         Powell fumbled on transitory ‘Bidenflation’ narrative ·         Fed may signal MBS QE tapering in July policy meeting Dow Future slips mid-Thursday as reflation trade op...

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15
Jul

UK Unemployment, Italian CPI, US Industrial Production

The dollar traded overall weaker against other major and emerging market currencies on Wednesday. In this sentiment the USD/TRY pair continued to slope lower while the Turkish cent...

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USDJPY slid on Powell ‘Put’ (ahead of testimonial Q&A)

USDJPY slid on Powell ‘Put’ (ahead of testimonial Q&A)

USDJPY slid early Wednesday to a low of almost 109.95 on Powell ‘Put’ as Powell sounded quite dovish (as highly expected) in his prepared remarks ahead of his testimony before the ...

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14
Jul

European Industrial Production, BoC Rate Decision, EIA ...

While the US dollar strongly appreciated around the time the monthly consumer price index (CPI) statistics were published in the US, major indices briefly dipped lower only to once...

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Gold wobbled on hotter than expected U.S. inflation

Gold wobbled on hotter than expected U.S. inflation

On Tuesday, all focus was on U.S. inflation to gauze Fed’s transitory narrative. Gold (XAU/USD-spot) nosedived from around 1815 to the session low 1799.00 in a whipsaw move just af...

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13
Jul

JPMorgan and Goldman Earnings, French and US CPI, RBNZ ...

While the dollar traded overall moderately stronger against other major currencies as seen in the performance of the USDX index, emerging market currencies traded quite mixed. The ...

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Dow Future flip-flops amid reflation trade skepticism, China’s liquidity boost, and Fed ‘put’

Dow Future flip-flops amid reflation trade skepticism, ...

Dow Future closed around 34759.00 Friday, jumped almost +1.36% (+465 points) on China’s liquidity boost (RRR cut) and Fed ‘put’. On Thursday Dow Future tumbled almost 564 points an...

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12
Jul

US 500 at new ATH, Oil Rebounds, Banks Rally

The US dollar traded overall weaker against other major currencies on Friday with for example the USD/CAD pair falling by around 0.65 % that day, possibly also supported by positiv...

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