USD/JPY bounces off lows, near 111.20

The greenback is clinging to its daily gains vs. its Japanese counterpart, with USD/JPY coming up to the 111.20/25 band after probing the 111.00 area earlier in the session. USD/JPY focus on US vote After dropping to fresh multi-month lows in the vicinity of 110.70 on Wednesday, the pair managed to ...

Denmark Consumer Confidence climbed from previous 4.8 to 6.2 in March

AUD/USD is only testing the lower end of fair value range – Westpac

Sean Callow, Research Analyst at Westpac, suggests that the industrial commodity prices have lost some altitude in recent days but AUD/USD is only testing the lower end of Westpac’s fair value range. Key Quotes “Australia’s export performance should remain a key positive for AUD, ...

EUR/GBP bounce off 2-1/2 week lows, UK retail sales in focus

The EUR/GBP cross extended its near-term downward trajectory and touched a 2-1/2 week low near 0.8630 region.  Markets moved passed the Westminster terror attack on Wednesday and a mildly positive tone around the GBP/USD major has been a key factor weighing on the major. However, a range bound ...

RBA sweating with iron ore entering a technical bear market – Rabobank

Michael Every, Head of FMR at Rabobank, explains that the RBA will be sweating with iron ore entering a technical bear market as speculators step back for now; and there’s a long way down from here if any further policy changes are seen in China. Key Quotes “That’s on top of the ...

GBP: Sell into strength as further gains should be capped – Westpac

Tim Riddell, Research Analyst at Westpac, highlights that the dissent from Kristin Forbes (calling for a rate hike) and less dovish MPC minutes have opened potential for a withdrawal of BoE’s post-Brexit-vote accommodation as GBP gained at least temporary support. Key Quotes “This ...

France Business Climate came in at 104, below expectations (107) in March

UK retail sales and US AHCA amongst market movers today – Danske Bank

Analysts at Danske Bank suggest that in today’s session UK retail sales data and voting on American Health Care Act will be the main market moving events. Key Quotes “UK retail sales for February will get some attention as the two past months of weakness broke a strong trend in 2016. A ...

UK retail sales likely to register a 0.2% m/m gain – TDS

Research Team at TDS explains that the UK retail sales haven’t seen any growth since October, so markets will be watching closely to see if this is the beginning of a pattern or whether we finally see a rebound in February. Key Quotes “We’re looking for a 0.2% m/m gain (mkt 0.4%), ...

China’s Feb crude oil imports from Iran +18.1%, Saudi -12.9%

China Customs is out with their latest monthly report on the country’s oil imports, reflecting a solid increase in imports for the commodity from Iran. Key Details: China imports from: Iran yy +18.1% to 657,900 bpd Russia yy +4.5% at 1.12m bpd Saudi Arabia -12.9% at 1.24mbpd Iraq +12.2% at ...

When is UK retail sales and how could affect GBP/USD?

UK retail sales Overview The retail sales data is expected to rebound to 0.4% m/m in February, while on annualized basis, retail sales are expected to jump to 2.6%. In January, retail sales was seen at -0.3% over the month. The report will be published later this session at 0930GMT. Deviation ...

US Dollar struggling for direction near 99.50

The greenback – gauged by the US Dollar Index – remains under pressure so far this week, currently looking to gather some traction in the mid-99.00s. US Dollar attention to US politics The index has practically retraced the February-March rally, so far losing ground for the third ...

ECB: Expect a take-up of about EUR250bn in final TLTRO – Danske Bank

Analysts at Danske Bank points out that the results of the fourth and final ECB TLTRO are due to be announced today and they expect a take-up of about EUR250bn, which is a significantly higher figure compared to the first three auctions. Key Quotes “We expect higher demand at the final ...

AUD/USD maintains bearish bias for third straight session

The AUD/USD pair traded with bearish bias for the third straight session but remained within previous session's trading range.  The pair prolonged its corrective slide from over 4-month tops touched at the beginning of this week and continued with its struggle to recover back the 0.7700 ...

Europe: Guided by political risks – Westpac

Tim Riddell, Resarch Analyst at Westpac, suggests that markets may be comfortable with Macron vs. Le Pen in the 2nd ballot, but French polls could throw a surprise given the size of undecided voters (over 30%).  Key Quotes “Triggering Article 50 will begin genuine Brexit negotiations and ...