Adding more risk

9 March, 2016

There are a couple of central bank decision to watch today, primarily Canada at 15:00 GMT. The Canadian economy has gone through a rough ride recently, with recent indicators suggesting some stabilisation, but concerns remain and the market is pricing the risk (around one-third) that rates are cut this year. The recent reversal of the currency is also a factor likely to be discussed at the meeting today, given the Canadian dollar is nearly 10% higher vs. the US dollar from the USDCAD highs seen in January. This makes it the strongest major over this period, but the recovery is not surprising given the changes to the risk environment and oil price over this period. It’s going to be the tone of the statement that determines the currency reaction. For New Zealand, the scope for a near-term move is a lot less, although there are a couple of institutions in the market thinking that they will cut rates from the current 2.25%, so it’s worth keeping an eye on the outcome.

Eslewhere, we are seeing a modest bid on the dollar at the start of the European session, with this being seen most notable on the risk currencies, such as the Aussie, which is pushing towards the 0.75 level. On the other side, USDJPY hardly moving. The single currency is more reluctant to join in ahead of tomorrow’s crucial ECB meeting, where further policy measures are expected.


Source link  
USD weakens as Supreme Court rules

Markets have maintained the themes from yesterday overnight with the USD showing weakness on the back of poor Philly Fed data. The US Supreme Court...

OPEC meetings in the spotlight today

OPEC, JMMC meetings are taking place today in Vienna with agreement on production levels high on the agenda. This can impact on prices in Oil markets...

Markets are taking a breath right now

Whether this turns into a broader rally or the selloff is resumed remains to be seen. Stock markets are higher after support was found in the European...


Trump wants a further $200 Billion of tariffs

While there was risk yesterday from Central Bankers very little was said to move the market. Instead the Trade War narrative boiled up again with the latest...

Oil down over 4% from Friday's open

OPEC and non- OPEC members are meeting in Vienna on Thursday for the start of a 3 day summit where production cuts are on the agenda...

ECB sparks huge moves in the Euro

The ECB dominated markets yesterday as they shifted their policy stance and signalled their exit from QE. The Bank is looking to reduce its bond buying by...


FOMC meeting results in a weaker dollar

The FOMC raised rates by 0.25 bps yesterday evening to a 1.75% to 2.00% target range in a hawkish move and reaffirmed its expected forecast of 2 more...

Progress made between Trump & Kim

US President Trump and North Korean Leader Kin Jong Un met in Singapore overnight. Progress was made between the two leaders during this first meeting...

Poor British statistics presses on sterling

Britain's statistics continue to indicate a slowdown in the UK economy. Today's data showed a decline in industrial production by 0.8% during April against...


In the past 24 hours Bitcoin has lost -3.18% and reached $5930.2. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0% and is now at $1.1605. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -10.59% and is now at $450.555. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets88%
2FXTMFXTM87%
3HYCMHYCM85%
4FIBO GroupFIBO Group80%
5FxProFxPro77%
6FXCMFXCM74%
7Alfa-ForexAlfa-Forex72%
8HotForexHotForex71%
9FP MarketsFP Markets70%
10XMXM69%
  


Share: