Category Archives: Daily Outlook

4 Aug: Gbp lower on dovish BOE outlook. US jobs today’s focus. Australian Retail Sales and MP Statement coming up.

  The main mover on Thursday was Sterling, which fell sharply after the BoE left monetary policy unchanged at 0.25% , as widely expected, and the asset purchase target at GBP 435 bio. The interest rate decision came with the MPC voting by 6-2 to leave rates on hold, also as generally expected. The dovish forward outlook is… Read More »

3 Aug: US$ mixed after ADP jobs data fails to meet expectations. BOE Meeting, Services PMIs in focus today

  Currency markets are more or less unchanged today although it has been a volatile session, with both Cable and the Euro making new multi-year highs before heading back to pretty much near where they started the day. The main interest was in the DJ, which cracked 22,000, boosted by Apple shares and assisted by doubts as to… Read More »

1 Aug: US$ under pressure, DJI at record high, WTI back at 50.00. RBA Meeting, EU GDP, Mfg PMIs in focus

  The US$ remains under pressure on all fronts again on Tuesday, hitting a 2-1/2-year low against the Euro due to a combination of  month-end portfolio adjustments, expectations for a more hawkish ECB and the ongoing chaos in the White House. The other majors were strong as well, with Cable reaching a 11 month high, while the Yen… Read More »

31 July: US$ remains heavy after Friday’s GDP. PMIs, RBA/BOE meetings and US Jobs/NFP in focus this week.

  The US$ remained under pressure into the weekend after the US Q2 GDP grew by 2.6% annualised, up from the previous reading of 1.4% and slightly above the consensus of 2.5%. However, the GDP price index slowed to 1.0%, down from 1.9% and below expectation of 1.3% while the employment cost index rose 0.5% in Q2, also… Read More »

28 July: Solid Durable Goods assist US$ recovery. Japan CPI/Jobs data ahead. German CPI, US GDP later.

  The dollar has recovered a little of the lost ground of the previous session following the release of some solid US economic data on Thursday. The Durable Goods orders jumped 6.5% in June, well above expectation of 3.5% although the ex-transport orders rose only 0.2%, below expectation of 0.4%. Wholesale Inventories rose 0.6% in June, above expectation… Read More »

27 July: US$ slapped lower after FOMC. Commodities stronger, stocks firm. Durable Goods today.

  The US$and bond yields are lower, while stocks and commodities are higher after the Fed left interest rates unchanged on Wednesday, indicating that it expects to start winding down its balance sheet “relatively soon” in a sign of confidence in the U.S. economy. The statement has been taken as slightly dovish although the statement did not really… Read More »

25 July: US$ edges higher, waiting on the FOMC (Wed). WTI up on Saudi production cuts. BOJ Minutes ahead.

  Currencies and stocks have been mostly rangebound on Monday while waiting on Wednesday’s FOMC Meeting, with little to excite the markets except for the global flash PMIs. The Euro was capped after the release of these as they generally came in lower than expected. The EU PMI manufacturing dropped to 56.8 in July, down from 57.4, missing… Read More »

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