Aug 25th 2016: Markets Eye US Unemployment

August 25, 2016 by

Morning Report: 07.15 London

  • This morning, the dollar is on the back foot as markets eye this afternoon’s US unemployment figures for clues on future policy. The USD/JPY is following suit after gains yesterday.

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  • While the euro is making gains, the pound is on the back foot as traders expect a solid release for German IFO business climate.

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  • Elsewhere, the NZD/USD continues to tease the highs, while the AUD/USD makes another push.

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Coming up today: 

  • Coming up today we have German Ifo business climate at 09.00.
  • This is followed by US core durable goods orders and unemployment claims at 13.30.

Trade Idea: 

  • After slipping from the highs, the EUR/USD is showing some promise this morning. With the dollar slipping back again, there could be some short-term upside.

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Aug 24th 2016: Euro Steady Following Economic Wobble

August 24, 2016 by

Morning Report: 08.00 London

  • This morning, the euro is on a stable footing after decidedly mixed economic data yesterday which saw German services PMI drop more than expected. The EUR/GBP dropped on the news but is recovering a little this morning.

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  • The dollar itself is making gains this morning after coming under pressure yesterday. The USD/JPY is unchanged by contrast.

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  • The Australian dollar is struggling to make any headway at the highs and has now since dropped off for two days. The NZD/USD remains unchanged, however.

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Coming up today: 
  • Coming up today we have the US existing home sales at 15.00, with crude oil inventories at 15.30.

Trade Idea: 

  • The USD/CAD’s decline has been interrupted of late, but there are signs that the downtrend force is still in place. This should still be the case with oil prices holding around recent highs.

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Aug 23rd 2016: Dollar Resumes Slide

August 23, 2016 by

Morning Report: 06.45 London

  • After Friday’s surge, the dollar index is resuming its downtrend, with a corresponding move in the USD/JPY.

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  • Dollar pairs are following suit, with the GBP/USD and EUR/USD enjoying gains.

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  • The AUD/USD and NZD/USD, in particular, are performing well and are once again threatening the highs.

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Coming up today: 
  • Coming up today we have a suite of European manufacturing and services PMI. We start with French data at 08.00, followed by German data at 08.30, with European-wide data at 09.00.
  • US new home sales follow at 15.00.

Trade Idea: 

  • The NZD/USD has been on an exceptional run and after a failed attempt to break the highs, a second attack could well succeed with the dollar weakening again.

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Aug 22nd 2016: Dollar Extends Rally

August 22, 2016 by

Morning Report: 07.15 London

  • This morning, the US dollar is extending its overnight gains, following comments from two different Fed members. On Friday, San Francisco Fed President John Williams said that a rate hike in September could be “in play”. Then late Sunday, Fed Vice Chairman Stanley Fischer gave a generally upbeat assessment of the US economy. The US dollar index has jumped higher, putting pressure on other dollar pairs.

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  • The GBP/USD and EUR/USD have gapped lower at the open as a result of this pressure.

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  • Meanwhile, the Australian and New Newzealand dollars continue to peel back from the highs.

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  • Elsewhere, the USD/JPY is rebounding.

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  • The USD/CAD has been the biggest winner since Thursdays as the oil heavy Canadian dollar experienced the biggest reversals.

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Coming up today: 
  • The only economic item of note today is Canadian wholesale sales at 13.30.

Trade Idea: 

  • The USD/JPY has been pushing higher, as the US dollar gains renewed interest. The pair is experiencing competing forces of yen demand and dollar interest rate demand.

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Aug 19th 2016: UK Retail Sales Withstand Brexit

August 19, 2016 by

Morning Report: 07.00 London

  • This morning, the British pound is slipping back slightly after better than expected retail sales data yesterday that defied Brexit induced predictions. The move also helped the EUR/GBP to reverse its uptrend.

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  • It was a good day for dollar pairs in general yesterday, with the EUR/USD extending its recent rally. The move is reversing slightly this morning.

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  • The USD/JPY continues to reverse, with small gains this morning.

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  • The Australian and New Zealand dollars performed well yesterday, but both are peeling back this morning.

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  • The Canadian dollar’s run has a rare reversal this morning as oil prices continue their recovery run.

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Coming up today: 

  • Coming up today, we have UK public sector net borrowing at 09.30.
  • This is followed by Canadian CPI and retail sales at 13.30.

Trade Idea: 

  • The AUD/USD is down this morning, but the pair has often been down one day and up the next.

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