As you were

20 January, 2016

Yesterday rise in stocks and oil, in part on the back of expectations of further Chinese stimulus, always looked a little strange and so it is that we’ve seen a more negative tone emerge to stocks and energy overnight. In FX, this means that the fall in the yen brought has been quickly reversed, USDJPY very close to the 116.50 low seen at the end of last week. USDCAD moved higher once again, not having seen a down day on a closing basis for the whole of the year to date. Meanwhile, sterling has nearly reached the most bearish of bank end Q1 forecast already (1.41), vs. the median expectation of 1.51. BoE Governor Mark Carney continues his penchant for trying to guide markets on rates (and rather unsuccessfully), confirming what markets had already taken on board, namely that “this is not the time to raise interest rates”. As such, this was not a great surprise to the currency. The current environment has continued to favour the Swiss franc as well as the yen, with the euro holding up well and the US interest rate story has changed from pricing hikes, more towards pricing steady policy, at least for the first half of the year.

The focus early on today will remain with sterling as UK labour market data is released at 08:30 GMT. Thereafter, we’re going to be looking at the CPI data in the US, where the headline rate is seen rising further from 0.5% to 0.8%, whilst the core rate is seen rising marginally from 2.0% to 2.1%. Weaker figures could weight on the dollar, but it would take numbers more than 0.1% off expectations to really impact, given the shift in rate expectations seen so far this year. It’s risk, China and the impact on equities that will continue to drive FX sentiment over the coming days.


Source link  
Demand for safe assets grows

Markets remain under moderate pressure, despite the Fed comments. Powell's semi-annual speech in Congress reinforced expectations that the US Central Bank...

US-China trade talks: deadline postponed

China's blue-chip index jumped more than 6% on Monday morning on news that Trump would postpone of the tariff's introduction. The U.S. President...

China buys American oil again

The first U.S. oil shipments to China in months will reach their destinations just days from now, punctuating a pledge by President Donald Trump in December that China would begin buying...


US raises oil prices by imposing sanctions

US oil prices inched up on Tuesday, buoyed by expectations of tightening global supply amid U.S. sanctions on Venezuela and production cuts led...

Trump's tax reform worth $1.5 trillion

One year after one of the biggest tax overhauls in American history, a survey released on Monday has revealed that the tax cut has not brought about...

Equity market causes investors confusion

As a turbulent December in equity markets draws to a close, there's one thing traders and investors can agree on: these are not usual times, especially...


Global debt exceeded $ 184 trillion

According to the International Monetary Fund (IMF), the global debt has achieved $184 trillion with $86,000 per person, a figure that is twice larger than...

Why U.S. markets are under pressure

Global markets are on the rise on Wednesday, adding more than 1.2% on the MSCI Asia ex Japan index. Japanese Nikkei jumped by 2%. Chinese...

Dow recovers after 500 points decline

Stocks closed higher Monday as major indexes bounced back from earlier losses as renewed confidence in the strength of the U.S. economy offset lingering...


In the past 24 hours Bitcoin has gained 0.3% and reached $4036.15964731. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.213% and is now at $1.1284. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 4.86% and is now at $139.612676992. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2019

# Broker Review
1easyMarketseasyMarkets91%
2FXTMFXTM89%
3HYCMHYCM88%
4FxProFxPro86%
5FIBO GroupFIBO Group85%
6OctaFXOctaFX84%
7HotForexHotForex81%
8FXCMFXCM78%
9AlpariAlpari76%
10XMXM74%
  


Share: