Category Archives: Daily Outlook

8 June: WTI takes a hit. Otherwise mostly choppy ahead of the UK election/ECB /Comey testimony to Congress.

  There has been plenty going on, on Wednesday although the currency markets are generally not too far removed from their previous levels after a choppy session, with the notable exception of the Aud$ which is higher following yesterday’s GDP release. EurUsd in particular has been volatile, initially falling on reports that the ECB will downgrade the inflation… Read More »

5 June: Weak NFP undermines the US$, Fed outlook, but underpins stocks. RBA, ECB coming up this week.

  The US$ fell sharply, while the S+P and the Dow both made yet new all-time highs after the disappointing employment data on Friday which indicated that the non-farm payroll report grew by only 138k in May, well below expectation of 185k, on top of which, the prior month’s figure was revised down from 211k to 174k. The… Read More »

2 June: US$ firm on good ADP jobs growth ahead of today’s US employment/NFP. Aud$ under pressure

  Both the US$ and stocks were stronger on Thursday, with the S+P heading to another all-time high after the release of the solid ADP  jobs report, which showed impressive growth of 253k in private sector jobs in May, much higher than expectation of 181k. The weekly, initial jobless claims rose 13k to 248k, also above expectation of… Read More »

31 May: Euro bounces on report that the ECB will discuss changing “forward guidance” in June. China Mfg PMIs ahead

  Having sold off in Asia, the Euro turned sharply higher in Europe after Reuters reported that ECB policymakers will discuss the possibility of a hawkish change in the “forward-guidance” at the next ECB Meeting, possibly including removing the current “easing bias”. Elsewhere it has been a choppy session, with the dollar finishing on a soft note, and… Read More »