XTB - Forex Market Reviews

Oil remains elevated, US production keeps rising

Baker Hughes report for the last week has showed another rise of US oil producers activity. The number of active rig counts rose by 8 w/w which obviously favours the further rebound of supply on the market...

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DAX reached the nearest resistance

European stocks are trading higher today due to a general risk-on triggered by Donald Trump. He commented on deregulation and corporate tax cuts and commited to introducing a plan in 2-3 weeks which was more than enough for US stocks to surge towards new record highs...

DAX struggling to deny that it is caught by bearish channel

The sentiment on European equities is very cautious, but the main indices remain slightly above zero today. The Dax made an attempt in the morning to shake off its recent weakness, but upward move faded within one hour...

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Deutsche with shorts on EURCHF

Bank remains short EURCHF targeting 1.02, Deutsche says that if speculators also upped the pressure, continued intervention would become ever costlier...

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DAX - a volatile start of the week

The DAX started the week with a fall of 100 points that was quickly corrected. Currently the index a bit higher on the day and the first drop should be associeted with the political news...

Stocks begin the week on the back foot

Stock markets have started out in a defensive mode this morning with the FTSE 100 falling more than 60 points. Donald Trump is in the headlines once more as his latest executive order signed late on Friday has caused a furore around the globe...


USD back on track

The overnight trading results in a continuation of the US dollar gains. A broad based recovery of the US currency is what has been missing yesterday morning to call the market behavior a proper return of the Trump trade...

UK GDP grows faster than forecast

This morning saw the release of data which shows that the UK economy grew faster than expected in the final quarter of 2016. The pound is higher on the day but has seen some weakness since the release, perhaps due to some traders seeing this as a good opportunity to book some profits after a strong run higher in the past couple of weeks...

A small sell-off on Oil after API

After a closing bell on Wall Street, API issued a weekly report on Crude Oil inventories in the US. The report is pretty bearish for oil. Inventories rose by 2.93mln bbl with expectations at 2.5mln. If the data is confirmed it will be the 3 consecutive week of growth...

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The strong start of the new US presidency makes USD softer

So this is how Donald Trump first day in office looks like. He has easily made it to the headlines, In his first executive orders he confirmed that NAFTA will be renegotiated and that the US no longer applies for the TPP...

UK stocks start the week on the back foot

The FTSE100 is under some selling pressure this morning and trading lower by around 40 points. The leading UK stock index posted its first weekly loss in over a month on Friday and has continued lower out the gate today. The pound is broadly higher on the day and has moved back above the 1.24 handle against the US dollar...

Yellen repeats Fed is close to meeting targets, USD up

The speech by the US central bank governor Janet Yellen did not offer any new insights on the attitude of FOMC, nor did it cause large shifts in the pricing of future rate hikes (even if now 3 rate hikes in 2017 look again more probable than only one, with 2 remaining the most expected outcome)...


Fed speakers, BoC and UK employment

We are going to see some central bank action (Canada) and hear from some Fed members and the chairwoman today. Apart from that we will get more information on the UK labor market and a data package from the US, including CPI for December and industrial output...

FTSE sets record winning streak

The FTSE 100 posted a 12th consecutive higher close yesterday to set a record for the best run of successive gains since 1984. A depreciating pound has been a near constant support to the stock market during this period and yesterday the currency fell to its lowest level against the US dollar since October...

Strong UK industrial data

Industrial output MoM: 2.1%, consensus 1%, previous reading -1.1 ( revised up from -1.3%)...

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Strong inflationary readings from China

The key event of the Asian session, December’s inflation data from China didn’t disappoint, the CPI y/y came at 2.1% (vs 2.2% expected and 2.3% previously) but producers prices surged by 5.5% y/y with expectations at 4.6% and prior growth of 3.3%...

A scary day for the US dollar

It was the first day of a true correction on the US dollar since Donald Trump won presidency in the US. Looking at the EURUSD a body of the USD-negative daily candle is the largest since December 5th...

Good data, good mood, plus some surprises

What can go wrong when the day starts with a surprisingly strong Chinese manufacturing PMI - especially ata moment when it s failure to meet expectations could have caused severe deterioration of global sentiment?


A volatile start despite lack of most investors

What could You expect from a trading day when almost all of the major countries have holiday? Well, the actual developments have surpassed expectations. The dollar index went up 0.6% with only CAD and NZD able to stay flat against USD...

European PMI are getting hotter

Manufacturing PMI’s across the Europe are strenghtening. We have written about a surge in Swedish PMI, but now it’s time to look at other countries. Let’s begin with Norway. The manufacturing PMI rose to 51.4 in December, 1.4 point higher than the market was expecting...

FTSE flirts with all-time high

The FTSE 100 is this morning within touching distance of posting a record high, as the market currently sits less than ten points from its all-time peak. Despite being higher against the US dollar the pound is losing ground elsewhere and is lower against all its other major currencies...


Slightly weaker dollar on profit taking

Monday will be rather flay, because only Japan will be normally on the market. Tradebeat will be back on Tuesday morning...

USD starts a week on a weaker foot

The USD opened the week with losses, seen mainly against the yen as leveraged and macro funds locked in profits gained since Donald Trump’s election victory. The dollar index weakened as Treasury yields retreated from their highest in more than two years...

AUD tries to resist the negative influence of Fed

Australian labor market data have become an important piece of information from this economy this year. After smooth growth last year the market entered a strange phase of net creating jobs but only in the part-time segment...


Good sentiment after a stream of data

Data released today confirms an economic stabilisation in China. The second-largest economy in the world remains resilient in the Q4 (data for November). Weaker yuan has benefited exports, factory prices rebounded diminishing a deflationary threat...

AUD fell on RBA statement

The Reserve Bank of Australia decide to leave its policy settings unchanged. Such a decision was widely expected. The main, cash rate was left unchanged at 1.5% as expected by every analyst surveyed by Bloomberg...

EUR fell on a negative referendum outcome

Italians voted NO to constitutional changes proposed by Italian Prime Minister Matteo Renzi. After negative outcome of the referendum, Renzi decided to quit in the early hours of Monday...


Rebound continues in UK construction

The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

XTB
RBS stock plummets after failing stress tests

Shares in the Royal Bank of Scotland (RBS) have fallen sharply this morning after the latest bank stress tests showed the lender failing on all measures. Despite this the FTSE 100 is moving slightly higher, in part due to an increase in risk appetite on the markets...

XTB
USD follows the increase of US yields

When we described the inflation data from the EMU countries we pointed out that EURUSD defied the indications form the US bond market. This is no longer the case. It seems that the uptick in US yields has reached a critical mass that made the US dollar start to gain against its G-10 peers...


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