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Forex Week Ahead

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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

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Market Analysis
British Pound (GBP) Latest: Outlook Bleak as Brexit Slide Continues
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Market Analysis
Gold slides to multi-day lows, below $1570
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Market Analysis
Brent crude falls as China cuts refining rates on virus outbreak
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Market Analysis
Gold Prices Ease Back Despite China Stock Plunge On Virus Worries
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Market Analysis
Forex Today: Coronavirus devastates Chinese markets, Boris pressures the pound, US data eyed
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Market Analysis
Forex Week Ahead – Virus Saga Continues, Iowa Caucuses are here, RBA to deliver dovish hold, and US NFP to see slight rebound
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Market Analysis
Forex Today: Cautiously optimistic on Brexit day; Eurozone data in spotlight
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Market Analysis
Crude Oil Prices Gain as WHO Stops Short Of Advising Travel Ban
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Market Analysis
EUR/USD: diminishing bets for extra weakness – UOB
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Market Analysis
JPY Futures: Extra upside lacks momentum
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Market Analysis
Forex Today: Coronavirus boosts Gold, BOE coin-flip and US growth eagerly awaited
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Market Analysis
British Pound May Fall on BoE Rate Decision, Brexit Concerns
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Market Analysis
ECB’s Rehn: Latest information on core inflation signal a rise, EUR/USD attacks 1.10
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Market Analysis
US Dollar May Bloom on FOMC Outlook, Corporate Earnings
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Market Analysis
Forex Today: Coronavirus surpasses SARS, Trump's impeachment gets interesting, Fed in focus
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Market Analysis
Gold Prices Steady As Virus Spread Saps Global Risk Appetite
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Market Analysis
Forex Today: Calm amid China’s coronavirus storm; US data in spotlight
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Market Analysis
ECB seen ‘on hold’ until end of 2021 – UOB
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Market Analysis
FOMC: All eyes on Chair Powell’s press conference – Deutsche Bank
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Market Analysis
EUR/USD prints YTD lows near 1.1015 post-IFO
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Market Analysis
Forex Today: Coronavirus crisis accelerates and knocks down risk, focus on German IFO
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Market Analysis
Forex Week Ahead – Central banks back to the fore
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Market Analysis
Breaking: EUR/USD hits fresh highs as German Preliminary Manufacturing PMI beats estimates with 45.2
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Market Analysis
Forex Today: Markets take a break from coronavirus fears, forward-looking data eyed
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Market Analysis
ECB’s Lagarde: To think that policy is on auto-pilot is ridiculous
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Market Analysis
Higher USD/JPY is still on the cards – UOB
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Market Analysis
Euro May Fall as the ECB Stays Cautious Despite Economic Upturn
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Market Analysis
Forex Today: Coronavirus fears spread and weigh on markets, Aussie surges, all eyes on the ECB
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Market Analysis
Euro Under Dark Clouds as Trump Threatens Auto Tariffs
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Market Analysis
Stocks in Asia rise, mostly shrug off concerns over coronavirus
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Market Analysis
BOE Preview: Goodbye Carney, hello rate cut? - Nordea
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Market Analysis
President Trump’s speech at WEF in Davos – Live
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Market Analysis
Fed should turn to digital money to combat next recession
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Market Analysis
GBP/USD jumps to session tops, closer to mid-1.3000s on upbeat UK jobs data
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Market Analysis
EUR/USD Forecast: Bears now await a break below 1.1065 confluence support
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Market Analysis
Forex Today: Pound pressured by Brexit plans, oil bumps on Mod-East issues, Bitcoin hungover
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Market Analysis
ECB preview: It’s all about the strategy – ING
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Market Analysis
Forex Week Ahead - BOJ, BOC, and ECB to keep rates on hold as markets focus on global PMI readings and earnings
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Market Analysis
US: Industrial production to retreat again in December – TDS
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Market Analysis
European stocks aim at fresh record on China data and Wall Street’s optimism
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Market Analysis
Breaking: GBP/USD drops below 1.3100 after UK Retail Sales drop 0.6% MoM in Dec vs. +0.7% expected
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Market Analysis
Crude Oil Futures: deeper pullback loses traction
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Market Analysis
EUR/USD prints weekly highs above 1.1160 ahead of ECB, data
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Market Analysis
Forex Today: Mixed feelings about the trade deal, US retail sales eyed, cryptos consolidate
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Market Analysis
Gold Futures: further signs of consolidation
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Market Analysis
Crude Oil Futures: an interim low seems in place
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Market Analysis
Forex Today: Tariffs weigh on markets, pound recovers ahead of data, Bitcoin takes a breather
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Market Analysis
EUR/USD Price Analysis: Focus remains on the 200-day SMA near 1.1140
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Market Analysis
US: Focus on Fed speak and CPI today – Rabobank
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Market Analysis
Forex Today: Trade optimism sends USD/JPY above 110, cryptos climb, US inflation eyed
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Market Analysis
Forex Week ahead – It’s a trade deal!
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Company News
The WAIT Is Over
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Market Analysis
BOE’s Tenreyro: UK labor market is not tightening further, GBP/USD drops 20-pips
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Market Analysis
EUR/USD stays cautious near 1.1100 ahead of Payrolls
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Market Analysis
AUD/USD pares early gains, turns red near 0.6860
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Market Analysis
Gold drops to fresh weekly lows, around $1540 level
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Market Analysis
Forex Today: Sell-offs in gold, oil and Bitcoin following Mid-East calm, central bankers eyed
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Market Analysis
GBP/JPY Technical Analysis: Bulls struggling near 141.20-30 confluence support
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Market Analysis
Gold hits fresh multi-month tops, around $1545 region
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Market Analysis
Forex Today: Fear grips markets as US kills top Iranian commander, ISM, FOMC awaited
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Market Analysis
GBP/USD: Recovery mode intact on 1.32 after UK Final Dec Manufacturing PMI disappoints with 47.5
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Market Analysis
AUD/USD: Weaker around 0.7000 as USD recovers
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Market Analysis
EUR/USD: Bulls look to test multi-month highs near 1.1240
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PAMM News
PAMMs Yearly Update
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Market Analysis
USD/CAD struggles to shakes off bearish pressure, trades around 1.3070
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Market Analysis
Forex Today: EUR/USD tops 1.12, AUD/USD nears 0.70, as end-of-year dollar pressure set to extend
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Market Analysis
Forex Week Ahead: Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020
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Company News
Merry Christmas
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Market Analysis
Canada: Weakness in consumer spending continues – RBC
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Market Analysis
Forex Today: Gold outshines amid trade deal woes in Christmas Eve markets
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Market Analysis
EUR/USD: Bounce still capped below 1.1100 ahead of US data
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Market Analysis
Forex Today: Pre-Chirstmas quiet trading seeps in alongside US-China trade optimism, US data eyed
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Market Analysis
Asian stocks: Political pessimism weighs over US-China trade progress
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Market Analysis
Forex Week Ahead: Market in Holiday Mode Despite Impeachment and Brexit
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Company News
Christmas and New Year Trading Schedule
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Market Analysis
GBP/USD: Supported here?
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