Tag Archives: fx

23 May: Oil lower on inventory build. FX mostly sideways, as Fed minutes maintain a steady course. PMIs today.

  Wednesday has ended with most products ending essentially unchanged after a choppy but volatile session, with the exception being oil, where WTI has fallen by 3% due to a shock US inventory build of 4.7 million barrels last week, versus expectations for a decline of nearly 600,000 barrels. Elsewhere it was generally fairly calm, with the FOMC… Read More »

20 May: US$ firm, stocks lower on Friday. FOMC Minutes, PMIs, US Durable Goods – and politics – in focus this week.

  The US$ ended the week on a firm note, underpinned by weakness in Sterling, which dragged the Euro lower, and also in the Australian and NZ dollars, which both finished on a soft note and look very heavy given the economic issues facing both countries. Cable saw heavy selling on Friday because the Brexit negotiations between the… Read More »

16 May: US stocks up, $ mixed on soft data, improved trade hopes. Australian jobs data ahead, US housing figures later

  Once again, the US$ is mixed and stocks have squeezed higher after the  US retail sales unexpectedly fell in April (-0.2% vs +0.2% expected), further pointing to a slowdown in economic growth after a temporary boost from exports and inventories in Q1, and suggesting that the Fed are unlikely to change Monetary Policy  any time soon. The… Read More »