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The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
This morning the greenback is trading higher as investors welcomed the deal for easing automatic spending cuts in the US, which would pin down the threat of yet another government shutdown in the US. However, the deal still needs a nod from the Senate and House members to come into effect.
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The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Could USA oil supplies data cause WTI oil to flirt with the critical $100 a barrel level?
Wednesday sees the publication of USA oil supplies data, expected to print at -5.6 bn barrels, whilst the USA federal budget balance is expected to print at $154.6 bn, significantly worsening from the previous month's figure of $91.6 bn. In New Zealand the cash rate is announced, predicted to stay the same at 2.5%. The press conference, the rate statement and the policy statement will accompany the announcement of the base interest rate, finally later that evening the RBNZ governor Wheeler will conduct a conference.
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The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Disclaimer
The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
This morning the greenback lost momentum, reversing its yesterday’s gains that came after few US Fed regional Presidents hinted a significant possibility of a policy taper during the next week’s Federal Open Market Committee (FOMC) meeting. see more at :
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The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
Intraday Markets China's trade surplus reaches a four year high as exports rise signalling strength returning to the world’s second largest economy
Sunday evening's trading session sees a raft of information published from Japan, the final GDP figure is predicted to come in at 0.4%, with the final GDP price predicted to come in at -0.3%, bank lending should come in at 2% improvement - See more at:Intraday Analysis Update Mon Dec - 9
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The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
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Strong German Ifo data; Repayment of the 1st LTRO begins; British Q4 GDP Negative. Market turns to Canadian CPI and new home sales.
The greenback is mixed in the ongoing session. It is weaker against EUR and CHF, flat against NZD and stronger against the rest of the majors. European equities are gaining around 0.6%. CHF leads and JPY lags.
The common currency pushed higher across the board on the back of improving Ifo data. Business climate rose in January to 104.2 from 102.4 which marked the third increase in a row; current assessment improved to 108.0 from 107.1 and the expectations sub index increased to 100.5 from 98.0. Yesterday's solid PMIs and today's strong Ifo confirm improving conditions in Europe's largest economy.
Another factor behind the euro strength is the ECB announcement that banks will repay EUR 137.159 bln out of EUR 489.19 outstanding in early repayment of the first 3 year LTRO. 278 banks too part in the first repayment, MNI reports. EURUSD rose to 1.3463 and now trades around 1.3435.
GBP came under pressure after British Q4 GDP declined more than economists anticipated. On quarterly basis the economy shrank 0.3% after Q3 0.9% growth and on annual basis GDP was flat while market forecasted 0.2% growth. Triple dip recession now seems more than just a possibility. GBPUSD fell to 1.5744 before bouncing to 1.5780 and EURGBP trades near session highs around 0.8515.
The US session begins at 8:30 am ET with Canadian CPI that is anticipated to rise 1.2% in December from November's 0.8% y/y while the core figure is seen rising to 1.4% from 1.2%. New home sales that are due at 10:00 am ET are anticipated to slow to 2.1% in December from prior 4.4%.
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The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
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US Non-Farm Payrolls Set to Create Significant Market Volatility Today
Speculations that US lawmakers will be unable to reach an agreement to boost the nation’s borrowing limit before the government runs out of money in the next two-months, boosted safe-haven assets yesterday. Both the US dollar and Japanese yen saw upward movement as a result against their higher-yielding currency rivals. Today, the main piece of economic news is likely to be the US Non-Farm Payrolls (NFP) report, set to be released at 13:30 GMT. Widely considered the most important indicator on the forex calendar, the NFP report is certain to generate significant market volatility.
Economic News
USD – All Eyes on US Employment Data Today
The US dollar saw gains against most of its main currency rivals yesterday, as attention shifted away from the recent “fiscal cliff” agreement, to the US debt ceiling. Lawmakers now have two month’s to reach an agreement to raise the nation’s borrowing limit before the government runs out of money. Concerns that an agreement will not be reached in time led to risk aversion, which boosted the safe-haven greenback.
The USD/CHF gained close to 50 pips during the European session to eventually trade as high as 0.9241, before a minor downward correction brought the pair to 0.9229. The GBP/USD fell more than 90 pips during the same time period to trade as low as 1.6143 before bouncing back to the 1.6170 level.
Today, all eyes will be on the US Non-Farm Payrolls (NFP) figure, set to be released at 13:30 GMT. Analysts are predicting that US employers added 135K jobs in December, slightly less than November’s final result of 146K. If the indicator comes in below the expected level, safe-haven currencies like the USD and JPY could see bullish movement before markets close for the weekend. Conversely, a better than expected NFP report will likely boost riskier assets, including crude oil, the euro and the AUD.
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The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities.
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