That was not a surprise yesterday, the BoE held rates unchanged at 0.25% and the asset purchase target will be kept at £435 billion. 10 billion of corporate bonds will also be purchased but this does not change from what was previously decided...
Yesterday I argued that the dollar may have reached a bottom and that further weakness is not justified...
The EUR/GBP cross was seen consolidating previous session's strong gains to 10-month highs and oscillated within a narrow trading band just below mid-0.9000s. The cross surged through the key 0.90 psychological mark on Thursday following a dovish assessment of the BoE decision...
Analysts at Nomura noted that the market's interest in Japanese politics has risen further, with Prime Minister Abe reshuffling his cabinet this week. Key Quotes: "There were no major surprises, as he has appointed more veterans and fewer fresh faces...
Early this afternoon, the BoE will announce its key rate that should remain unchanged at 0.25%. Markets estimate that rates should only increase by early 2018. For the time being, the British Central Bank is largely enjoying a weak pound in the wake of the Brexit vote...
This is no news that the US dollar has had a tough year so far but the question is whether further USD weakness is sustainable. On a trade weighted basis, the greenback fell more than 8.5% since the beginning of the year...
Forex today in Asia was mainly driven by risk-off trades, with the Asian indices tracking their Wall Street counterparts lower, while worse-than expected Australia’s trade figures combined with downbeat China’s services PMI report curb appetite for risk assets further...
Here’s the market outlook for this month: Content courtesy of Tallinex Limited https://www.tallinex.com GOLD (XAUUSD) Dominant bias: Bullish Price went up in July (recovering some of the losses sustained in June) to reach a high of 1270...
The EUR/USD pair held on to its nominal gains above the 1.1800 handle and had a muted reaction to the release of ADP report. The pair moved little after ADP report showed that private sector employers added 178K new jobs during the month of July...
Today we get US labor ADP data ahead of the NFP report on Friday. Bloomberg Survey indicates new jobs creation for July of 190k compared to the prior June read of 158k. The overall sentiment is positive and it has been 7 years that the data print positive...
The New Zealand extended losses on Wednesday amid the release of disappointing data from the job market. After grinding lower yesterday, NZD/USD fell another 0.55% to 0.7425, its lowest level of the past five days. Despite the fact that the second-quarter unemployment rate matched estimate of 4...
In view of Aila Mihr, Analyst at Danske Bank, the pair’s next target could be 1.1876, 2010 lows. Key Quotes “EUR/USD took another strong move higher yesterday and broke above 1.18 for first time since 14 January 2015...
Analysts at Nomura, in respect to Japan's economy, suggest that the key points for 2017 H2 are export recovery and dent to spending from inflation...
Tomorrow morning, the Reserve Bank of Australia’s cash rate is set to remain on hold at 1.5% despite the Aussie is on a bullish trend since mid-May. The Aussie can be traded at almost $0.80. It is worth noting that the Australian currency has gained more than 11% this year...
The Swiss National Bank reported a profit of CHF 1.2 billion for the first half of 2017, compared to CHF 7.9 billion for the first quarter. The sharp appreciation of the Swiss franc against most of its peers, mostly the US dollar, ate up the profits from shares and bonds investments...
The ruble is trading sideways around 60 ruble and this may not last long as the USDRUB pair is under pressures. While the Russian economic data are improving, there are other geopolitical issues that may have strong consequences on the future of the Russian economy. Indeed, U...
Durable goods orders printed well above median forecast suggesting a solid recovery in June after two months of contraction. The headline gauge increased 6.5%m/m versus 3.9% expected and an upwardly revised figure of -0.1% in May...
The automotive transmission system is the final stage of the engine, till the engine hits the wheel. The whole system is responsible for making engine and wheel work together...
FX Strategists at Scotiabank remain neutral/bearish on the pair in the near term horizon. Key Quotes “Hawkish ECB comments coincided with the FOMC policy statement yesterday, possibly amplifying the reaction in EURUSD...
