FTUKcom

FTUKcom

AUD/USD resides just above 0.7600 after finding mild support at its 50 DMA (0.7614), with clean air seen on either side aside from the psychological figures. The Loonie has dipped probes 1.2800 but the Dollar headwinds have been diminished as crude prices remain elevated. The Kiwi straddles around 0.7200 as the AUD/NZD cross hovers around 1.0600. Technicians will...

FTUKcom

Again another great move from EURUSD since my last post. Further bearish momentum to be expected. The euro was slightly softer again but found support at the 1.20 handle. The situation in Europe is mixed, Italian political uncertainty remains, although former ECB President Draghi has accepted the task to form a government, he is facing push back from right wing...

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Recent targets have been met on this one. The dollar was flat/choppy today and managed to hold on to the 91 handle, off early highs of 91.30. Data out of the US was encouraging, with a strong ISM Services report and encouraging ADP employment data ahead of the official labour market report on Friday. On stimulus, the Senate approved a Budget Resolution measure in...

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EUR The Euro looks set to end a whippy week nearer the upper end of its parameters vs the Greenback (1.2058-1.2183), and has taken some heed of better than expected Eurozone (German mainly) hard data after a rather downbeat Ifo survey. However, this does not begin to tell the full story as the single currency sold off sharply when ECB’s Knot declared that the GC...

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In many respects familiar factors have shaped trade and market direction again, with the Dollar taking its cues from broad risk sentiment based on daily coronavirus updates and restrictive measures deployed to combat the spread including efforts to expedite the pace of vaccinations. On that note, while lockdowns and curfews have been effective in terms of slowing...

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THE DOLLAR sold off today with a recovery in stocks today amid solid tech earnings which saw the index fall beneath the 90.50 handle again. The risk on tone was attributed to the retracement of the vol spike yesterday as hedge funds reentered equity longs, although stimulus talks, vaccine progress, earnings were added tailwinds, as was better than expected jobless...

06:59

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The Aussie has duly surrendered 0.7700+ status against its US counterpart and been below 0.7650 irrespective of Q4 inflation metrics marginally topping estimates, while the Kiwi has lost grip of the 0.7200 handle again eyeing NZ trade data after the FOMC. Further downside expected over the remaining trading sessions this week.

07:46

FTUKcom

The Loonie is also weakening near the bottom of the G10 ranks along with the Aussie and Kiwi that has failed to glean any lasting traction from firmer than forecast CPI or the fact that the Aud/Nzd cross remains top-heavy above 1.0700. Usd/Cad is back above the 1.2700 handle, Aud/Usd under 0.7750 and Nzd/Usd sub-0.7250 all awaiting the FOMC, though the latter also...

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Super choppy few days. The Dollar is firmer across the board in the run up to the FOMC amidst little expectation of really anything major in terms of policy moves or fresh guidance beyond the inevitable updated assessment of the economic situation and outlook since the prior meeting, plus anything Fed chair Powell reveals in the press conference via text or...

FTUKcom

The writing was on the wall for the Pound after early UK data disappointment in the form of retail sales and public sector finances, but the so called flash PMIs were anything but, and have seen Cable relinquish the 1.3700 handle, while Eur/Gbp has rebounded to 0.8900+ from its pre-ECB low around 0.8830. Another downturn in broad risk sentiment, softer crude and...

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Eur/Gbp moves as the cross rebounds from circa 0.8830 along with Eur/Usd and Eur/Jpy. All eyeing monetary policy meetings for some independent inspiration and impetus away from the overall risk tone and Dollar, and all gleaning something positive even though the ECB, Norges Bank, CBRT and SARB stood pat, as widely if not quite unanimously expected. The Euro topped...

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The Yen is pivoting 103.50 pre-Japanese CPI and post-BoJ that stuck to the script including Governor Kuroda pledging more accommodation without hesitation if warranted. Potential EUR weakness coming into play for the remainder of the week. This spot looks simple and positive for sells.

06:45

FTUKcom Updated 

Usd/Cad to almost 1.2800 seems more related to media speculation that incoming US President Biden will take executive action to cancel the Keystone XL Pipeline permit. Meanwhile, mixed Chinese data has not helped the Aussie or Kiwi resist the advances of their US counterpart as the former reverses from just above 0.7700 towards 0.7660 and latter tests bids/support...

FTUKcom Updated 

The Dollar continues to retreat on a mixture of broad risk factors and US specifics following confirmation that Treasury Secretary-in-wating Yellen favours bold fiscal stimulus and market forces when it comes to the Greenback’s value, while she also intimated that increased spending should not necessarily raise the tax burden for businesses extortionately (or...

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The Buck was already losing altitude before the return of US markets from their long MLK junior holiday weekend, but the pull-back has continued through 90.500 in DXY terms to 90.401 vs 90.768 at one stage and from within a whisker of 91.000 yesterday, assessing US Treasury Secretary nominee Yellen’s confirmation Q&A where she is expounding the virtues of a...

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It’s been a close contest for much of Tuesday’s EU session and is still likely to go down to the wire as the Aussie and Euro remain neck-and-neck in the race for first place among majors. Both currencies have gleaned encouragement from independent factors, such as Capital Economics calling for the RBA to terminate asset purchases by April and ZEW survey metrics...

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Check out my last video on this. Retracement has been fulfilled... The Euro and Aussie are vying for top spot among the non-Usd G10 currencies, with the former back above 1.2100 after breaching the 50 DMA at 1.2091, and the latter retesting 0.7700 where big option expiries reside (1.2 bn). Eur/Usd may also be deriving some traction from Italy following PM...

09:10

FTUKcom

Euro is hovering between 1.2050-1.2100 on the wide irrespective of the aforementioned European Commission policy paper about severing links to the Buck. The Buck remains broadly, albeit not quite uniformly firmer, with little sign of depreciation due to reports that the EU is planning to curb is reliance on the Greenback or from expectations that US Treasury...