something interesting

<  BACK TO Market Analysis

Forex Week Ahead

Forex_week_ahead_to keep rates_Forex_FXPIG

The debates on how much of an impact the Phase One trade deal will have on the global outlook will continue as market concerns fall on the Davos forum, central bank rate decisions and earnings season.  The upcoming week is shortened since US equity and bond markets will be closed on Monday for the observance of the Martin Luther King Jr. holiday.  A good amount of attention will fall on Davos, Switzerland as world leaders and the biggest business billionaires will be addressing a wide-range of topics.

  • Disappointing UK PMI data could cement expectations for the BOE to cut rates at the end of the month
  • Euro could stabilize if the Eurozone manufacturing PMI readings have better than expected rebounds
  • Wall Street may finally start fading the US-China trade deal euphoria as the focus shifts to tech earnings

A few big rate decisions will occur this week with no changes in policy expected from the BOJ, BOC, and ECB.  ECB Chief Lagarde will also begin to outline the beginning of a complete outline of the monetary strategic review.  We could see some broad strokes but don’t expect any major hints on changes to their current tools in place.  The overall mood for risk appetite will take some queues from the German ZEW Survey and the euro zone flash PMI readings.  With some clarity being delivered from the phase-one trade deal, expectations are high for improving sentiment with manufacturers in Europe.  This week, the fate of the dollar will likely be more reliant on macro story from Europe than from any US economic data points.

Country

US

US stocks have been on a tear following a strong start to earnings season by the banks, the signing of the phase-one trade deal and de-escalation with the US-Iran conflict.  Despite the strong move with US equities, global currency volatility has fallen to a record low.  Right now, the Fed is widely expected to do nothing for the rest of the year regarding rates, but they will soon try to temper balance sheet growth expectations. The dollar remains overvalued but won’t break unless we start to see better than expected data globally.  With strong demand for US Treasuries the dollar could remain stubbornly strong in short-term.

The second week of earnings season will focus on tech as we will see results from Netflix, IBM and Intel.  Optimism is going for a better than expected earnings season as the banks have signaled the US consumer is strong and credit markets are healthy.

US Politics

While much of the mainstream media will focus on the impeachment trial of President Trump, Wall Street does not care.  Markets have shown almost no reaction to the entire impeachment process and remain heavily confident Trump will complete his first term.

UK

The topic of conversation has very much changed this week from the election result and Brexit to the Bank of England and an imminent interest rate cut. A series of weak data points combined with some dovish commentary from policymakers Silvana Tenreyro and Gertjan Vlieghe have ramped up the odds of a cut later this month from around 5% to above 70%. The timing looks a little peculiar given the period the data covers but there has clearly been a shift within the MPC towards a rate cut. The meeting on 30 January is now very much live and therefore the jobs data on Tuesday and PMIs on Friday, not to mention commentary from various policy makers, will be very closely followed next week.

Eurozone

The ECB meeting next week is unlikely to create too many fireworks. The previous stimulus package was substantial and is unlikely to be added to in the near-term, barring a dramatic change in the data. Expect more warnings about downside risks and the need for more of a response on the fiscal side.

Norway

The Norwegian central bank has been on a tightening cycle since the summer of 2018, raising rates four times in that period from 0.5% to 1.5% where it stands today. The January meeting is an interim meeting, meaning no press conference or new rate path. As such, no rate hike is likely at this meeting, but the statement may hold clues about the path of travel under the new committee and if that’s changed from the last 18 months.

Russia

Vladimir Putin is planning the for the end of his term in 2024 by, it seems, reducing the power of the Presidency and replacing the Prime Minister. It’s unclear at this stage what his plan is but it’s suggested he’s effectively laying the groundwork to hold onto power in another way via constitutional change. It wouldn’t be the first time he’s got around term limits but it seems he’s being a little more creative on this occasion while masking it as a democratic shift, giving more power to Parliament.

Mexico

The Mexican peso is rallying alongside all the Latin American currencies as the phase-one trade deal has triggered an emerging market rally.  Mexico is also benefitting from the Senate passing of the USMCA trade deal.  Mexico’s economy will see a strong bump with exports, but trader’s looking for further peso strength might be disappointed as outflows are possibly signaling hedge funds are cashing out of their trades.

Turkey

The lira could see further pressure as the initial rally following their fifth consecutive rate cut was faded.  Turkey has been slashing rates since the summer, a total reduction by 1,275 basis points has brought the one-week repo rate to 11.25%.  Turkey reportedly is pressuring state-owned banks to support their currency, but that is a dangerous game if the macroeconomic indicators take a turn for the worse.

Hong Kong

Tight short-term funding rates have pushed the Hong Kong dollar higher at the start of the year, with USD/HKD dropping into the lower half of the permitted trading band. Better funding conditions will likely see the FX pair moving higher, with the threat of a return to violent protests exerting upward pressure.

On the protest front, talk is that an “anti-communist” rally will be held next week, with a “rehearsal” staged last Sunday. That event passed peacefully but the risk is always there.

Data-wise, unemployment on Monday and consumer prices on Tuesday are the highlights.

Risk

As always, there is the risk that protests escalate and turn violent again, which would be negative for the HK33 index and could push USD/HKD back to the upper half of the trading band.

China

Now that the Phase 1 trade deal has been signed and details have been released, it’s up to Beijing to keep on track to deliver on its promises on US purchases. US has already said there will be no adjustment to China tariffs before the US presidential election in November, which will probably be the first evaluation as to how well China is adhering to the T&Cs.

Next week is a shortened week, with China starting to focus on the Lunar New Year holidays from mid-week onwards, though the celebrations don’t start until Friday. There are no major data releases next week.

Risk

Markets will be constantly monitoring China’s compliance with its commitment to purchase US goods, with a greater risk of under-performance rather than excess. That would be negative for risk, hurt the CN50 index and probably boost USD/CNH.

India

India’s Supreme Court is due to hear pleas challenging the new citizenship law on January 22, with tensions likely to be high in the run-up and more protests likely. It’s a question of how violent they get. There is talk that diplomatic channels are working on a US President Trump visit to India by end-February.

Risk

Escalation from either side or political rhetoric would be negative for the INR and Indian equities.

Australia

Thursday’s release of December employment data will be the key event to set the tone for the rest of the month. Now that the wildfires raging in Queensland and New South Wales appear to be gradually being brought under control, the real economic damage will start to be assessed. Implications for the insurance sector have been said to be manageable, but it is the amount of additional fiscal spending to rebuild that could have a greater impact. Economic activity for Q4 and beyond will no doubt take a hit, but a massive unplanned fiscal budget could hurt local bond markets and currency.

Risk

Any downside misses on the employment data could reignite dovish RBA chatter, which would be negative for the AUD. An exaggerated fiscal deficit would also be detrimental. There is still some talk that the RBA may be forced into QE in the second half of 2020, which could keep the Aussie pegged back.

New Zealand

Very quiet on the data front next week, with no other issues facing the country.

Japan

The BOJ rate meeting on Tuesday is expected to be another lame duck, with no shift in policy rates or bond buying programs expected. However, a dovish outlook report could hurt equities. December’s trade data on Thursday could perform better than expected, given the uptick in Chinese and South Korean numbers for the same month.

Risk

Continuing deterioration in exports could hit the Japan225 index, as would a dismal Q4 outlook. The yen, as usual, will be swayed by the risk-on, risk-off gyrations.

Market

Oil

Oil prices are stabilizing on improved demand outlooks since the phase-one trade deal will revive global manufacturing.  The oil rout may be over and we could start to see prices trade more rangebound.  If the global manufacturing rebound shows signs of improving next week, crude prices may remain supported.

Gold

US stocks are constantly making fresh record highs, currency volatility is at a record low, but something must give.  Gold prices are likely to see longer-term support as a plethora of geopolitical risks firmly remain in place.  Middle East tensions are likely flare up again, concerns are growing that the Fed will shortly address the tempering of balance sheet growth, and 2020 election uncertainty will keep long-term investors wanting to own gold.

Bitcoin

Bitcoin seems to have a firm bottom in place and as hedge-fund demand improves we could see prices look to make a run at the $10,000 level.  Selling pressures from regulatory hurdles seem to have run their course and investors are growing optimistic the halving event in May will provide significant support over the newt few months.

Economic Releases and Events

Monday, January 20th

2:00 am EUR Dec Germany PPI M/M: 0.0%e v 0.0% prior

3:30 am HKD Dec Hong Kong Unemployment Rate: 3.3%e v 3.2% prior

8:30 am CAD Dec Canada Teranet House Price Index M/M: No est v 0.2% prior

Bank of Japan (BOJ) Rate Decision: Expected to keep policy unchanged

Tuesday, January 21st

Davos World Economic Forum (ends on Friday)

1:00 am SEK SEB releases Nordic Outlook

2:00 am SEK Swedbank release Economic Outlook

4:30 am GBP Dec UK Jobless Claims Change: No est v 28.8K prior

4:30 am GBP Nov UK Average Weekly Earnings 3M/Y: No est v 3.2% prior

4:30 am GBP Nov UK ILO Unemployment Rate 3Months: 3.8%e v 3.8% prior

5:00 am EUR Jan Germany ZEW Current Situation: -13.5e v -19.9 prior

5:00 am EUR Jan Germany ZEW Expectations Survey: 13.0e v 10.7 prior

5:00 am EUR Jan Eurozone Expectations Survey: No est v 11.2 prior

7:00 am MXN Dec Mexico Unemployment Rate(non-seasonally adj): No est v 3.4% prior

8:30 am CAD Nov Manufacturing Sales M/M: No est v -0.7% prior

6:30 pm AUD Jan Australia Westpac Consumer Confidence Index: No est v 95.1 prior

Wednesday, January 22nd

2:45 am EUR Jan France Manufacturing Confidence: 101e v 102 prior

3:00 am ZAR Dec South Africa CPI Y/Y: 4.1%e v 3.6% prior

8:30 am CAD Dec Canada CPI Y/Y: 2.2% prior

8:30 am USD Dec Chicago Fed National Activity Index: No est v 0.56 prior

10:00 am CAD Bank of Canada (BOC) Interest Rate Decision: Expected to keep rates steady at 1.75%

10:00 am USD Dec Existing Home Sales M/M: 1.4%e v -1.7% prior

11:15 am CAD BOC Gov Poloz Rate Decision Press Conf

6:50 pm JPY Dec Japan Trade (JPY): -161.0Be v -82.1B prior

7:30 pm AUD Dec Australia Employment Change: 15.0Ke v 39.9K prior

Thursday, January 23rd

00:00 am SGD Dec Singapore CPI Y/Y: 0.7%e v 0.6% prior

3:30 am SEK Dec Sweden Unemployment Rate: No est v 6.8% prior

4:00 am NOK Norges Rate Decision: Expected to key rates steady at 1.50%

7:45 am EUR ECB Rate Decision: Expected to keep rates unchanged

8:00 am RUB Dec Russia Industrial Production Y/Y: 1.9%e v 0.3% prior

8:30 am USD Weekly Jobless Claims

10:00 am USD Dec Leading Index -0.2%e v 0.0% prior

10:00 am EUR Jan Advance Consumer Confidence: -8.0e v -8.1 prior

4:45 pm NZD Q4 CPI Q/Q: 0.4%e v 0.7% prior; Y/Y: 1.8%e v 1.5% prior

6:30 pm JPY Dec Japan National CPI Y/Y: 0.7%e v 0.5% prior

7:50 pm JPY BOJ Minutes of December Meeting

9:00 pm NZD Dec New Zealand Credit Card Spending Y/Y: No est v 4.5% prior

Friday, January 24th

00:00 am SGD Dec Singapore Industrial Production Y/Y: -0.8%e v -9.3% prior

3:15 am EUR France Jan Prelim Manufacturing PMI: No est v 50.4 prior

3:30 am EUR Germany Jan Prelim Manufacturing PMI: 44.2e v 43.7 prior

4:00 am EUR Eurozone Jan Prelim Manufacturing PMI: 46.7e v 46.3 prior

4:00 am ECB Survey of Professional Forecasters

4:30 am GBP UK Jan Manufacturing PMI: 48.1e v 47.5 prior

7:00 am MXN Nov Mexico IGAE Y/Y: No est v -0.78% prior

8:30 am CAD Nov Retail Sales M/M: No est v -1.2% prior

9:00 am EUR Jan Belgium Business Confidence: No est v -3.4 prior

9:45 am USD Jan US Markit Manufacturing PMI: 52.8e v 52.4 prior

Source: marketpulse

The debates on how much of an impact the Phase One trade deal will have on the global outlook will continue as market concerns fall on the Davos forum, central bank rate decisions and earnings season.  The upcoming week is shortened since US equity and bond markets will be closed on Monday for the observance of the Martin Luther King Jr. holiday.  A good amount of attention will fall on Davos, Switzerland as world leaders and the biggest business billionaires will be addressing a wide-range of topics.

  • Disappointing UK PMI data could cement expectations for the BOE to cut rates at the end of the month
  • Euro could stabilize if the Eurozone manufacturing PMI readings have better than expected rebounds
  • Wall Street may finally start fading the US-China trade deal euphoria as the focus shifts to tech earnings

A few big rate decisions will occur this week with no changes in policy expected from the BOJ, BOC, and ECB.  ECB Chief Lagarde will also begin to outline the beginning of a complete outline of the monetary strategic review.  We could see some broad strokes but don’t expect any major hints on changes to their current tools in place.  The overall mood for risk appetite will take some queues from the German ZEW Survey and the euro zone flash PMI readings.  With some clarity being delivered from the phase-one trade deal, expectations are high for improving sentiment with manufacturers in Europe.  This week, the fate of the dollar will likely be more reliant on macro story from Europe than from any US economic data points.

Country

US

US stocks have been on a tear following a strong start to earnings season by the banks, the signing of the phase-one trade deal and de-escalation with the US-Iran conflict.  Despite the strong move with US equities, global currency volatility has fallen to a record low.  Right now, the Fed is widely expected to do nothing for the rest of the year regarding rates, but they will soon try to temper balance sheet growth expectations. The dollar remains overvalued but won’t break unless we start to see better than expected data globally.  With strong demand for US Treasuries the dollar could remain stubbornly strong in short-term.

The second week of earnings season will focus on tech as we will see results from Netflix, IBM and Intel.  Optimism is going for a better than expected earnings season as the banks have signaled the US consumer is strong and credit markets are healthy.

US Politics

While much of the mainstream media will focus on the impeachment trial of President Trump, Wall Street does not care.  Markets have shown almost no reaction to the entire impeachment process and remain heavily confident Trump will complete his first term.

UK

The topic of conversation has very much changed this week from the election result and Brexit to the Bank of England and an imminent interest rate cut. A series of weak data points combined with some dovish commentary from policymakers Silvana Tenreyro and Gertjan Vlieghe have ramped up the odds of a cut later this month from around 5% to above 70%. The timing looks a little peculiar given the period the data covers but there has clearly been a shift within the MPC towards a rate cut. The meeting on 30 January is now very much live and therefore the jobs data on Tuesday and PMIs on Friday, not to mention commentary from various policy makers, will be very closely followed next week.

Eurozone

The ECB meeting next week is unlikely to create too many fireworks. The previous stimulus package was substantial and is unlikely to be added to in the near-term, barring a dramatic change in the data. Expect more warnings about downside risks and the need for more of a response on the fiscal side.

Norway

The Norwegian central bank has been on a tightening cycle since the summer of 2018, raising rates four times in that period from 0.5% to 1.5% where it stands today. The January meeting is an interim meeting, meaning no press conference or new rate path. As such, no rate hike is likely at this meeting, but the statement may hold clues about the path of travel under the new committee and if that’s changed from the last 18 months.

Russia

Vladimir Putin is planning the for the end of his term in 2024 by, it seems, reducing the power of the Presidency and replacing the Prime Minister. It’s unclear at this stage what his plan is but it’s suggested he’s effectively laying the groundwork to hold onto power in another way via constitutional change. It wouldn’t be the first time he’s got around term limits but it seems he’s being a little more creative on this occasion while masking it as a democratic shift, giving more power to Parliament.

Mexico

The Mexican peso is rallying alongside all the Latin American currencies as the phase-one trade deal has triggered an emerging market rally.  Mexico is also benefitting from the Senate passing of the USMCA trade deal.  Mexico’s economy will see a strong bump with exports, but trader’s looking for further peso strength might be disappointed as outflows are possibly signaling hedge funds are cashing out of their trades.

Turkey

The lira could see further pressure as the initial rally following their fifth consecutive rate cut was faded.  Turkey has been slashing rates since the summer, a total reduction by 1,275 basis points has brought the one-week repo rate to 11.25%.  Turkey reportedly is pressuring state-owned banks to support their currency, but that is a dangerous game if the macroeconomic indicators take a turn for the worse.

Hong Kong

Tight short-term funding rates have pushed the Hong Kong dollar higher at the start of the year, with USD/HKD dropping into the lower half of the permitted trading band. Better funding conditions will likely see the FX pair moving higher, with the threat of a return to violent protests exerting upward pressure.

On the protest front, talk is that an “anti-communist” rally will be held next week, with a “rehearsal” staged last Sunday. That event passed peacefully but the risk is always there.

Data-wise, unemployment on Monday and consumer prices on Tuesday are the highlights.

Risk

As always, there is the risk that protests escalate and turn violent again, which would be negative for the HK33 index and could push USD/HKD back to the upper half of the trading band.

China

Now that the Phase 1 trade deal has been signed and details have been released, it’s up to Beijing to keep on track to deliver on its promises on US purchases. US has already said there will be no adjustment to China tariffs before the US presidential election in November, which will probably be the first evaluation as to how well China is adhering to the T&Cs.

Next week is a shortened week, with China starting to focus on the Lunar New Year holidays from mid-week onwards, though the celebrations don’t start until Friday. There are no major data releases next week.

Risk

Markets will be constantly monitoring China’s compliance with its commitment to purchase US goods, with a greater risk of under-performance rather than excess. That would be negative for risk, hurt the CN50 index and probably boost USD/CNH.

India

India’s Supreme Court is due to hear pleas challenging the new citizenship law on January 22, with tensions likely to be high in the run-up and more protests likely. It’s a question of how violent they get. There is talk that diplomatic channels are working on a US President Trump visit to India by end-February.

Risk

Escalation from either side or political rhetoric would be negative for the INR and Indian equities.

Australia

Thursday’s release of December employment data will be the key event to set the tone for the rest of the month. Now that the wildfires raging in Queensland and New South Wales appear to be gradually being brought under control, the real economic damage will start to be assessed. Implications for the insurance sector have been said to be manageable, but it is the amount of additional fiscal spending to rebuild that could have a greater impact. Economic activity for Q4 and beyond will no doubt take a hit, but a massive unplanned fiscal budget could hurt local bond markets and currency.

Risk

Any downside misses on the employment data could reignite dovish RBA chatter, which would be negative for the AUD. An exaggerated fiscal deficit would also be detrimental. There is still some talk that the RBA may be forced into QE in the second half of 2020, which could keep the Aussie pegged back.

New Zealand

Very quiet on the data front next week, with no other issues facing the country.

Japan

The BOJ rate meeting on Tuesday is expected to be another lame duck, with no shift in policy rates or bond buying programs expected. However, a dovish outlook report could hurt equities. December’s trade data on Thursday could perform better than expected, given the uptick in Chinese and South Korean numbers for the same month.

Risk

Continuing deterioration in exports could hit the Japan225 index, as would a dismal Q4 outlook. The yen, as usual, will be swayed by the risk-on, risk-off gyrations.

Market

Oil

Oil prices are stabilizing on improved demand outlooks since the phase-one trade deal will revive global manufacturing.  The oil rout may be over and we could start to see prices trade more rangebound.  If the global manufacturing rebound shows signs of improving next week, crude prices may remain supported.

Gold

US stocks are constantly making fresh record highs, currency volatility is at a record low, but something must give.  Gold prices are likely to see longer-term support as a plethora of geopolitical risks firmly remain in place.  Middle East tensions are likely flare up again, concerns are growing that the Fed will shortly address the tempering of balance sheet growth, and 2020 election uncertainty will keep long-term investors wanting to own gold.

Bitcoin

Bitcoin seems to have a firm bottom in place and as hedge-fund demand improves we could see prices look to make a run at the $10,000 level.  Selling pressures from regulatory hurdles seem to have run their course and investors are growing optimistic the halving event in May will provide significant support over the newt few months.

Economic Releases and Events

Monday, January 20th

2:00 am EUR Dec Germany PPI M/M: 0.0%e v 0.0% prior

3:30 am HKD Dec Hong Kong Unemployment Rate: 3.3%e v 3.2% prior

8:30 am CAD Dec Canada Teranet House Price Index M/M: No est v 0.2% prior

Bank of Japan (BOJ) Rate Decision: Expected to keep policy unchanged

Tuesday, January 21st

Davos World Economic Forum (ends on Friday)

1:00 am SEK SEB releases Nordic Outlook

2:00 am SEK Swedbank release Economic Outlook

4:30 am GBP Dec UK Jobless Claims Change: No est v 28.8K prior

4:30 am GBP Nov UK Average Weekly Earnings 3M/Y: No est v 3.2% prior

4:30 am GBP Nov UK ILO Unemployment Rate 3Months: 3.8%e v 3.8% prior

5:00 am EUR Jan Germany ZEW Current Situation: -13.5e v -19.9 prior

5:00 am EUR Jan Germany ZEW Expectations Survey: 13.0e v 10.7 prior

5:00 am EUR Jan Eurozone Expectations Survey: No est v 11.2 prior

7:00 am MXN Dec Mexico Unemployment Rate(non-seasonally adj): No est v 3.4% prior

8:30 am CAD Nov Manufacturing Sales M/M: No est v -0.7% prior

6:30 pm AUD Jan Australia Westpac Consumer Confidence Index: No est v 95.1 prior

Wednesday, January 22nd

2:45 am EUR Jan France Manufacturing Confidence: 101e v 102 prior

3:00 am ZAR Dec South Africa CPI Y/Y: 4.1%e v 3.6% prior

8:30 am CAD Dec Canada CPI Y/Y: 2.2% prior

8:30 am USD Dec Chicago Fed National Activity Index: No est v 0.56 prior

10:00 am CAD Bank of Canada (BOC) Interest Rate Decision: Expected to keep rates steady at 1.75%

10:00 am USD Dec Existing Home Sales M/M: 1.4%e v -1.7% prior

11:15 am CAD BOC Gov Poloz Rate Decision Press Conf

6:50 pm JPY Dec Japan Trade (JPY): -161.0Be v -82.1B prior

7:30 pm AUD Dec Australia Employment Change: 15.0Ke v 39.9K prior

Thursday, January 23rd

00:00 am SGD Dec Singapore CPI Y/Y: 0.7%e v 0.6% prior

3:30 am SEK Dec Sweden Unemployment Rate: No est v 6.8% prior

4:00 am NOK Norges Rate Decision: Expected to key rates steady at 1.50%

7:45 am EUR ECB Rate Decision: Expected to keep rates unchanged

8:00 am RUB Dec Russia Industrial Production Y/Y: 1.9%e v 0.3% prior

8:30 am USD Weekly Jobless Claims

10:00 am USD Dec Leading Index -0.2%e v 0.0% prior

10:00 am EUR Jan Advance Consumer Confidence: -8.0e v -8.1 prior

4:45 pm NZD Q4 CPI Q/Q: 0.4%e v 0.7% prior; Y/Y: 1.8%e v 1.5% prior

6:30 pm JPY Dec Japan National CPI Y/Y: 0.7%e v 0.5% prior

7:50 pm JPY BOJ Minutes of December Meeting

9:00 pm NZD Dec New Zealand Credit Card Spending Y/Y: No est v 4.5% prior

Friday, January 24th

00:00 am SGD Dec Singapore Industrial Production Y/Y: -0.8%e v -9.3% prior

3:15 am EUR France Jan Prelim Manufacturing PMI: No est v 50.4 prior

3:30 am EUR Germany Jan Prelim Manufacturing PMI: 44.2e v 43.7 prior

4:00 am EUR Eurozone Jan Prelim Manufacturing PMI: 46.7e v 46.3 prior

4:00 am ECB Survey of Professional Forecasters

4:30 am GBP UK Jan Manufacturing PMI: 48.1e v 47.5 prior

7:00 am MXN Nov Mexico IGAE Y/Y: No est v -0.78% prior

8:30 am CAD Nov Retail Sales M/M: No est v -1.2% prior

9:00 am EUR Jan Belgium Business Confidence: No est v -3.4 prior

9:45 am USD Jan US Markit Manufacturing PMI: 52.8e v 52.4 prior

Source: marketpulse

lastest Articles

Market Analysis
Forex Week Ahead – The final stretch
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: 50-DMA at $1924 is the level to beat for the bulls
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Fundamental reality disagrees with recent gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Foreign intervention in US elections weighs on mood, jobless claims, politics eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Overbought, so what? Stimulus hopes blind investors' eyes (for now)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Markets cheer hopes of US stimulus deal, election polls in focus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold flirts with the $1,900 level in anticipation of news on the fiscal front
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Bulls are in control and eye 1.1795
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar retreats on fresh stimulus hopes, Brexit and coronavirus news eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Time running out for Trump
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Dead cat bounce could provide sell opportunity, euro faces three headwinds
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dominates amid stimulus and Brexit uncertainty, ahead of US retail sales
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar finds its feet amid stalled stimulus talks, ahead of US data, EU Summit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar’s haven demand back in vogue amid stimulus delay, vaccine trial pause
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Price Forecast: Cautious ahead of key week
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Analysis: Three factors why BTC is going to surge
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Yuan slumps on China’s policy move, coronavirus risk downs euro amid light trading
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Risk events galore
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: One more possibility around year-end for testing of 1.20 – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold looks to the upside ahead of Powell’s speech
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Cautious mood and “sell the fact” after Trump's discharge, stimulus news eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Markets hate uncertainty
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Euro attacks strong resistance, why this could be a fakeout
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: High hopes for US fiscal stimulus boost sentiment, NFP hints eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar rises after an ugly presidential debate, US data, end-of-month flows eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD now looks to 1.1800 and above – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
S&P 500: Three critical policy disappointments behind the correction – Morgan Stanley
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin's mass adoption passes the point of no return
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar declines on hopes for a US fiscal deal, ahead of presidential debate
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Elections: A decisive Democratic victory to hit the USD – Nordea
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Bearish pressures mounting
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar bulls take a breather amid an upbeat start to a Big week
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Let the debates begin!
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Prediction: BTC slips into “Buy the Dip” Zone
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Eyes on August lows of $1863 ahead of US PMIs and round two Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar’s haven demand in vogue ahead of a busy day
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold remains on track to test the August low of $1863
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Bears now eyeing a sustained break below 1.1700 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar buoyant ahead of Powell, UK PM Johnson’s COBRA meeting eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Futures: Still room for extra gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Further consolidation looks likely ahead of Fed speakers
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar sags amid fiscal overhang, mounting coronavirus risks
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – No ease up for Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BOE Quick Analysis: Bailey blasts sterling with specter of negative rates, why more falls are likely
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s De Guindos: Euro exchange rate is fundamental for inflation
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Fed drives dollar higher, gold and stocks lower, BOE, jobless claims eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold aims $1980 as focus shifts to Wednesday’s FOMC
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD to surge to 1.40 by September-2021 – UBS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Upbeat Chinese data boosts mood, Boris' bill passes first hurdle, Gold shines
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – More stimulus on the way?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Lane: Euro's rise dampens inflation outlook
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: King dollar holds the rein amid cautious optimism, eyes on US CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Euro set to fall? ECB expectations may be overconfident
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Brexit in deep crisis, vaccine hopes resurface, all eyes on the ECB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Brent Oil resumes its core bear trend
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s Muller: A timely exit from temporary emergency measures is important
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine trial halt exacerbates risk off mood, Brexit, BOC, and US fiscal talks eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: XAU/USD drops further and approaches $1,900/oz
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Update: BTC bulls ready to strike back once $11,000 is cleared
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Hard-Brexit fears pound the Pound, Dollar bid on US-Sino woes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD risks deeper pullback as 1.20 peak looks far
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: Downside appears more compelling while below $1946 – Confluence Detector
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar stabilizes in the NFP aftermath, Oil tumbles amid holiday-thinned trading
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead - Trump Closing the Gap
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Nonfarm Payrolls Preview: Fed’s policy shift to introduce vital noise
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold rebounds from weekly lows, turns neutral around $1945 region
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD trims losses and regains 1.1850 post-US ISM
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed's Williams: Policymakers seek inflation that targets 2% over time
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Cash Market Update: BCH fork is inevitable as Bitcoin ABC team separates from the project
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar climbs back from the abyss, ADP NFP, Fed speakers awaited
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Bring on the Jobs Report
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Jackson Hole Goes Virtual
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead - The focus remains on COVID-19, the Fed and Congress
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Gold up, dollar down amid stalled fiscal talks, vaccine hopes, ahead of jobless claims
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead- Is the economic recovery stalling?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar licking its wounds, gold gives ground, ahead of the all-important Fed decision
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – What more can the Fed do?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Market Update: BTC/USD hits a pause button before another bullish assault
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Price Analysis: Potential correction ahead of further gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: China's payback weighs on markets, boosts dollar, PMIs, coronavirus figures eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Technicals show bulls have the upper hand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Correction in sight after reaching nine-year highs
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar licking its wounds, gold shines, US coronavirus cases eyed after Trump's U-turn
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold jumps to fresh multi-year tops, beyond $1820 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: EUR/USD sells the fact, Gold looking strong, Trump's coronavirus briefs make comeback
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Market Update: BTC fails to live up to the status of digital gold
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
S&P 500 Futures Price Analysis: Bears retain control after rejection at falling trendline resistance
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: EU leaders can’t reach an agreement on the EU rescue fund
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Focus remains on Virus Spread, Fiscal Stimulus, Rebounding data, and Earnings
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD continues to look at the 1.1495 March high
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD to remain resilient in the near-term
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dominates ahead of EU Summit, updated look at the US consumer amid rising cases
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold probes multi-day lows around $1,790/oz
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Price Analysis: A test of 1.1420 appears closer
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar seizes control as risk aversion returns, a busy docket ahead
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold to stay above $1800 fueled by lower real rates
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB expected to keep rates unchanged
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine, earnings optimism downs the dollar; eyes on COVID-19 stats, BOE’s Bailey
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Bring on Earnings Season
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Crude Oil Futures: Upside looks limited
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613