Key events from overnight – ANZ

Analysts at ANZ explained the key events overnight. Key Quotes: "ECB President Draghi spoke in Frankfurt but failed to elaborate on last Thursday’s comments, whilst Banque de France Governor Villeroy said that the fear of inflation was exaggerated." "He also noted that whils ...

US economic outlook: uncertainty and strong dollar risks – Nomura

Analysts at Nomura offered their views on the US economy. Key Quotes: "We expect continued growth, with upside risks in the near-term. Activity: In the wake of the election, we expect the Republican-led Congress and the Trump administration to support a large fiscal stimulus. That stimulus i ...

AUD/USD trading in narrow 0.7564/92; markets get set for the FOMC

Currently, AUD/USD is trading at 0.7567, down -0.05% on the day, having posted a daily high at 0.7575 and low at 0.7566. AUD/USD has been consolidating as markets get set for the FOMC this week. There was a sell-off in the dollar that caught the market off guard after the nonfarm payroll ...

UK parliament officially gives permission to begin Brexit

In recent trade, it has been announced that the UK parliament has given permission to UK PM May permission to begin Brexit. Article 50 should be triggered on or before the 31st of May.  Also, other news is that PM May will reject the Scottish First Minister Sturgeon's demand for a secon ...

BoJ to be a non event? – UOB

Analysts at UOB Group noted the BoJ meeting this week, but are not convinced there will be any changes. Key Quotes: "The Bank of Japan (BoJ) will conclude its latest policy meeting on Thursday, but we are not expecting to see any changes in the Bank’s policy stance." "The Bo ...

NZD/USD: consolidates at 0.6920/50 ahead of a key week for the greenback

Currently, NZD/USD is trading at 0.6924, down -0.01% on the day, having posted a daily high at 0.6927 and low at 0.6922. FOMC: watching for forward guidance - UOB NZD/USD is sidelined and huddled around the 20 hourly sma awaiting the FOMC decision and forward guidance.  The kiwi has bee ...

U.S. 10-year bond yield closes at two-year highs

On Monday, the yield on the benchmark 10-year Treasury note had its best daily closing since September 2014 at 2.626% (+1.7%) as investors expect Fed to raise rates on Wednesday by 0.25 points with the upper bound at 1.0% and the lower bound at 0.75%. The 2-year bond yields added 1.25% to %1.37 ...

Wall Street hesitant, waiting for the rate decision

Major US equity indices remained indecisive on Monday as investors are getting ready for Wednesday's FOMC decisions. The US Dollar Index also stayed in tight ranges ahead of the critical events of the week. Forex today: dollar stable and US yields rise The Dow Jones Industria ...

The lower house of Parliament voted to reject amendments – RTRS

The lower house of Parliament voted to reject amendments to May's Brexit-trigger bill proposed by the House of Lords Key points (via Reuters) Lawmakers in the House of Commons overturned the second amendement, asking for lawmakers to be given a binding say on the ultimate outcome o ...

Forex today: dollar stable and US yields rise

The forex space was a mixed bag today following last week's correction in the dollar and US yields in reaction to the nonfarm payrolls data. The dollar ended down 0.6% last week but was set to close higher leading into early Asia by 0.1%. Yields recovered from lows of 2.56% and again read a ...

EUR/USD unable to move away from the 1.0650 area

EUR/USD printed a fresh daily low during the American session at 1.0651. The pair remains near the lows, consolidating modest losses.  It has been a quiet day so far in the forex market. The US dollar bounced modestly to the upside after Friday’s decline. Among the best performer was th ...

US: February CPI to show continue upward trend  – Wells Fargo

On Wednesday, Inflation and retail sales data will be released in the US, but the numbers are likely to be offset by the FOMC meeting. According to analysts from Wells Fargo, the CPI reading is likely to show a flat reading for February and a continued upward trend in consumer prices.  Ke ...

Gold moving sideways, supported by the 1hr 50-SMA

After refreshing its daily low at $1202.36, where the 1hr 50-SMA is sitting, the yellow metal started consolidating its losses. At the moment, Gold is retreating 0.05% at $1204.35. Safe-haven appeal Despite the daily loss, Gold seems to be forming a potential bottom on the daily graph a ...

AUD/NZD: resuming the multi-week rally targetting 1.1050 area – ANZ

Analysts at Westpac offered their outlook for the antipodean cross and rates. Key Quotes: "AUD/NZD 1 day: Resuming the multi-week rally, the next major target the 1.1050 area (April lows). AUD/NZD 1-3 month: Higher to 1.10+. The cross remains well below fair value estimates implied by interes ...