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Here are the latest developments in global markets:FOREX: The dollar was trading down relative to a basket of currencies but still not far below a three-week high of 94.09 reached on Friday. The antipodean currencies – predominantly the kiwi – were advancing relative to the greenback. The New Zealand dollar’s...
Last Friday’s US non-farm payrolls report was above average, but nothing special.228,000 jobs were added in November, but the October report was revised lower by 17,000. The more predictable unemployment rate held steady at 4.1%. Average earnings rose by 0.2% and 2.5% on a month-on-month and year-on-year basis respectively, but both...
US markets showed signs of life once again on Thursday, moving higher and recovering after a couple of down sessions. The tech heavy Nasdaq led the charge northwards, with the likes of Facebook, Google parent Alphabet and Apple gaining between 1.4% - 2.4% each.FAANG’s back in favourTech stocks have...
The Greenback ventured to a two-week high against a basket of major currencies on Friday morning, amid investor optimism over U.S. tax reforms.Today’s main risk event for the Dollar will be the U.S. non-farm payrolls report, to be released later today, which should offer fresh insight on the health...
Here are the latest developments in global markets:FOREX: The dollar rallied overnight against its counterparts on news that US lawmakers agreed to temporarily extend the government spending bill, a day before the deadline on Friday. The pound was on track to post a second day of gains as concerns over a...
Talking PointsThe political noise is still something which investors needed to be mindful Friday’s job number is going to significantly shape the expectations for the fourth quarter. We expect the November payroll number to be at 198K keep in mind that the 12 month average is at 167KMore...
European Commission to Recommend Moving onto Phase Two of Brexit Negotiations European equity markets are poised to open higher on Friday, buoyed by the news that the UK and the EU have come to an agreement on the three contentious issues that make up phase one of the Brexit negotiations.After...
The UK and the EU have made sufficient progress in the Brexit talks, and now they can move on the trade aspect of the negations.The political mood has been lifted, but the FTSE 100 is underperforming its Continental counterparts due to a firmer pound.The DAX has been given a boost after Martin Schulz,...
TD FX Strategy Research discusses the USD outlook and argues that its recent gains are likely to be short-lived on possible reversal into the US jobs report on Friday."The $ has staged a modest rebound in the past few days, rallying against most of the G10 low-yielders....The trading signal is...
Trump’s decision to recognize Jerusalem as the capital of Israel and move the U.S. embassy to the new capital, was the major news headline yesterday. Despite many warnings from Arab and European leaders that the move would have dangerous consequences, financial markets seem to have ignored the risks for...
Here are the latest developments in global markets:FOREX: The dollar hit a two-week high against a basket of currencies as optimism on US tax reform continued to support the currency, though concerns over a possible government shutdown restricted steeper upside movement. The euro and the pound were on track to...
he British pound has posted slight losses in the Wednesday session, continuing the downward movement we’ve seen for most of the week. In North American trade, GBP/USD is trading at 1.3384, down 0.44% on the day. On the release front, there are no British events on the schedule. In the...
Sterling edged towards an eight-day low on Wednesday as growing uncertainty over the progress on Brexit negotiations weighed on the British currency with some investors unwinding long positions after a recent rally.Failure could mean a delay until February, adding to the risk of businesses scaling back investment plans in...
Societe Generale Cross Asset Strategy Research is out with its top FX trades for 2018 which includes 3 trades in spot (Long EUR/USD, Long AUD/NZD, and short USD/CAD). The 3 trades are structural-based that are meant to express SocGen's thematic views through the next 6 to 12 months.Long EUR/USD: "After a hiatus of...
IndicesEuropean markets have opened lower after another late sell-off on Wall St The Nasdaq 100 gave up 1% gains to end lower Japan’s Nikkei stock average closed down 2% for its biggest loss of 2017SharesHammerson has agreed to a £3.4bn offer for Intu Properties Legal & General...
Global equity bulls were nowhere to be found during Tuesday’s trading session as market players evaluated the possible impact of proposed US tax cuts. World stocks were mostly lower amid a global technology selloff, with the lack of appetite for riskier assets punishing European shares and Wall Street.Asian markets...
Talking PointsThe European technology sector is mimicking what happened over on Wall Street UK and EU walked away yesterday without having any deal Spanish industrial number painted more cheerful paintingUS futures are mainly focused on any new development on the US reform. Markets have priced in the impact...
Here are the latest developments in global markets:FOREX: The dollar weakened against its major counterparts on Wednesday as unless a deal is reached the government will run out of funds on Friday. This is spreading fears of a partial government shutdown. The pound was under pressure amid weakening hopes for progress on Brexit...
Having seen some decent gains so far this year there appears to be increasing evidence that markets are starting to look a little tired. The first clues appeared yesterday when US markets after racing out of the blocks on Monday found it difficult to hold onto a lot of...
The Canadian dollar continues to move higher on Tuesday, after starting the week with slight gains. Currently, USD/CAD is trading at 1.2644, down 0.24% on the day. On the release front, both Canada and the US release Trade Balance, and the US will also publish ISM Non-Manufacturing PMI. On...
Despite U.S. equities closing at new records on the tax breakthrough, it was interesting to see the dollar retreating slightly against its major counterparts. It seems investors are still anxious about how the Senate will reconcile its tax bill with the House of Representatives before it goes to President...
Talking PointsMay’s Brexit At Risk Due to Irish Border Us Tax Outcome awaited OPEC’s win push oil higher Bitcoin stay above 9K for nowDecember is here and investors are going to look for the traditional Santa rally. The trading volume would start to fall as we move closer...
Here are the latest developments in global markets:FOREX: The RBA held rates unchanged on early Tuesday as expected, but the aussie hit a three-week high following upbeat retail sales figures which pointed to an improved economic outlook. The kiwi also posted a strong rebound, erasing yesterday’s losses after the RBNZ governor...
Nordea FX Strategy Research discusses EUR/USD outlook into year-end, and outlines 3 key reasons why the pair is still resilient and hasn't been traded significantly lower yet.1- Reason number one why EUR/USD trades at elevated levels still is the continued over-performance from European key figures compared to already lofty expectations...2- Secondly, the...
The US dollar began the week on the front foot after the GOP tax plans were approved, opening the door to a vast fiscal stimulus for the US economy. A big win for Donald Trump, although dollar traders have to deal with the rollercoaster Mueller investigation, which poses a...
The euro has posted slight losses in the Monday session. Currently, EUR/USD is trading at 1.1847, down 0.47% since the close on Friday. On the release front, Eurozone Sentix Investor Confidence dropped to 31.1, short of the estimate of 32.3 points. Eurozone PPI gained 0.4%, matching the forecast. In...
CIBC FX Strategy Research discusses NZD outlook, noticing that the post NZ election period has seen investors aggressively re-position their NZD bets."From a record long skew at the end of July, positions have unwound to such an extent that new shorts are nearing mid-2015 extremes. So it’s not surprising...
The USD/CAD lost 1.55 percent on Friday. The currency pair is trading at 1.2695 after the Canadian jobs number defied expectations with a 79,500 positions added in November. Monthly gross domestic product (GDP) came in higher at 0.2 percent but in fact confirmed the slowdown of the economy as...
U.S. stock indices ended mixed on Wednesday. While the Dow-Jones industrial average closed at a record high after U.S. GDP showed the economy grew at a revised rate of 3.3%, Tech stocks dragged the Nasdaq closing 1.3% lower. There has been a significant rotation from the Tech sector to...
Talking Points10K was a critical level for bitcoin NASDAQ announced it would list Bitcoin futures 14K Bitcoin by mid 2018?Is it a bubble doomed to pop or it is still not too late to invest? The reality is that Bitcoin has cracked the symbolic mark of $10,000.  This was...