FX

EUR/USD lost its traction during the American trading hours. Sharp drop in GBP/USD helped the greenback gather strength. Market action is expected to remain subdued until next week. The broad-based USD weakness allowed the EUR/USD pair to climb above 1.2200 during the European trading hours. However, the pair struggled to preserve its bullish momentum in

“Japan’s economy is likely to improve moderately as a trend,” the Bank of Japan (BOJ) Governor Haruhiko Kuroda said in a scheduled speech at the Japan Business Federation’s Board of Councillors Meeting, in Tokyo. Additional quotes There is high uncertainty for economic outlook as it will likely take time for vaccines to reach broad sectors

Data released on Wednesday showed the economy expanded at a 0.4% rate in October. According to National Bank of Canada analysts point out that the real question remains whether the recovery can be sustained, especially with more stringent lockdown measures to control the spread of coronavirus.  Key Quotes: “Real GDP continued to recover in October, gaining

Asia-Pacific part ways from S&P 500 Futures, US 10-year Treasury yields. China’s CSI 300 rises 1.0% to regain 5,000, NZX 50 and ASX 200 are gainers too. US President Donald Trump obstructs stimulus but House Speaker Pelosi showed readiness to add more. Aussie trade balance improves, BOJ Minutes favor easy money. Asian shares remain mildly

EUR/USD has slipped to fresh lows of the day under the 1.2200 level in recent trade amid a broad pick up in the US dollar. No specific catalyst has been behind the dollar’s recent rise, but DXY has managed to cross back above 90.50. USD has been seeing upside in recent trade, with the Dollar

GBP/USD sees 100 pip spike on UK PM’s “last ditch” push for a Brexit deal Reports from Bloomberg that the UK PM Boris Johnson is making a final “last-ditch” push for a Brexit with a new compromise on the issue of fisheries has spurred significant GBP upside in recent trade. GBP/USD spiked as high as 1.3496 from

Chicago Fed’s National Activity Index edged lower in November. US Dollar Index clings to daily gains near 90.50 after the data. The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) declined from 1.01 (revised from 0.83) in October to 0.7 in November. Key takeaways “The CFNAI Diffusion Index, which is also a three-month moving average,

The People´s Bank of China has left the one-year loan prime rate at 3.85% as expected. Also, the central bank kept the five-year loan prime rate at 4.65% as expected. About the rate decision If the PBoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for

Here is what you need to know on Monday, December 21: The financial markets keep gyrating around Brexit negotiations and US funding talks. The latter seems to be in better shape than the first one, although definitions on both are expected this week. Regarding US stimulus, US lawmakers announced on Saturday they reached a compromise, paving

In a press conference on Saturday, British Prime Minister Boris Johnson said that he had been briefed on data showing that the new variant of the coronavirus is spreading more rapidly in parts of England, as reported by Reuters. Johnson further announced that London and areas of Southeast England will go into tier 4 level

NZD/USD gains have been capped by the 0.7150 level on Friday amid a minor recovery in USD. USD looks likely to close in the green for the first time this week, with DXY consolidating just above the 90.00 level. NZD/USD has traded largely as a function of USD dollar flows on Friday and given a

US equities spent most of US trading hours on the back foot, only to rally sharply into the close. Quad witching and Tesla’s inclusion in the S&P 500 index next Monday distorted trade. US equities seemingly did not trade as a function of the usual themes that have been driving the price action as of

NZD/USD is staging a correction following Thursday’s upsurge. US Dollar Index recovers toward 90.00 during European session. Business confidence in New Zealand improved sharply in December. The NZD/USD pair climbed to its highest level since May 2018 at 0.7172 on Thursday but reversed its direction on the last day of the week. As of writing,

Published on 17 December 2020 from Prime Minister’s Office, 10 Downing Street, the UK government has released a statement which stresses that ”the situation in (our) talks with the EU is very serious tonight. progress seems blocked and time is running out. Full official  statement  The Prime Minister spoke to Commission President Ursula von der Leyen this

UK Interior Minister Priti Patel, a staunch supporter of Brexit, has said that the talks are in a tunnel and parliament may be reconvened if talks conclude with a deal. The senior minister added that the government is ready for a no-deal outcome.  GBP/USD has extended its gains above 1.3580, extending its gains and hitting

Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes “Current policy stance is appropriate.” “Financial conditions are highly accommodative.” “Rate-sensitive sectors

While economists at Credit Suisse remain structurally constructive on the Norwegian krone, there is potential for the Norges Bank decision on 17 December to disappoint relative to the market’s already quite optimistic expectations. Therefore, spikes in EUR/NOK towards 10.79 would rapidly find sellers. Meanwhile, the medium-term target of 10.41 in EUR/NOK is still in place.

Canada’s recovery from the pandemic is at a very difficult stage and a second wave of COVID-19 infections “could even deepen the economic hole”, Bank of Canada Governor Tiff Macklem said on Tuesday. Reuters reports Macklem told the Greater Vancouver Board of Trade that Canada had to boost both exports and productivity to ensure the