Canada’s first jobs report after the USMCA is expected to be moderate. The BOC will likely remain on track for a hike early in 2019. The Canadian Dollar has room to rise, but other factors are in play as well. Canada publishes its employment report for October on Friday, November 2nd, at 13:30 GMT. This … “Canadian Dollar well-positioned for the jobs report, but watch the NFP as well”
Category: Opinions
USD could falter as Democrats consolidate their lead in House polls
The US Mid-Term Elections are heating up with one week to go. House polls show Democrats are consolidating their gains. The US Dollar could be negatively affected. The US Mid-Term Elections are on November 6th, just one week to go. The scene is heating up with President Donald Trump trying to focus the attention on … “USD could falter as Democrats consolidate their lead in House polls”
This Italian GDP could move the Euro quite a bit
This Italian GDP release could have a significant impact on the on the Euro. Without better numbers, the clash on the budget will likely continue. Italy is the euro zone’s third-largest economy, and its economic figures rarely move the Euro. But the preliminary publication for Q3 2018, due on October 30th, will be different. Very … “This Italian GDP could move the Euro quite a bit”
3 reasons why the US Dollar fell despite upbeat GDP
US GDP grew by 3.5% annualized in Q3, above expectations and this followed an excellent Q2. The US Dollar ticked up at first but is now retreating. There are three reasons for the disappointing reaction. The US economy grew by 3.5% annualized in the third quarter, above 3.3% expected. This is the second consecutive quarter … “3 reasons why the US Dollar fell despite upbeat GDP”
Brexit can be kicked down the road in a classic EU fudge
Brexit negotiations remain stuck, four months ahead of Brexit Day. Postponing the decision is becoming a viable option. The Pound could rise in case a hard Brexit is averted. The European Union and the United Kingdom have made significant progress on a wide range of issues in the Brexit negotiations. However, the question of keeping … “Brexit can be kicked down the road in a classic EU fudge”
Draghi does not rock the boat, EUR/USD at the mercy of markets
The ECB’s Draghi drew a balanced picture of the economic situation. He was slightly more positive than negative, supporting the Euro. The next moves depend on Italy, stocks, and other events. The European Central Bank left its policy unchanged as broadly expected. ECB President ECB described risks as broadly balanced. He maintained his slightly positive stance, keeping the Euro … “Draghi does not rock the boat, EUR/USD at the mercy of markets”
Trump wants fewer hikes and could get more – USD set to get more support
President Trump continues upping the ante against the Fed’s policy and his pick for Chair. The central bank is set to defend its independence and has less room for flexibility. The US Dollar could benefit, and Trump’s efforts on trade could suffer. US President Donald Trump criticizes the Federal Reserve each time the stock markets … “Trump wants fewer hikes and could get more – USD set to get more support”
Cashing out of Crypto – Not as easy as it seems
After achieving some level of success on your speculative cryptocurrency trading, you want to enjoy the fruits of your labors, but cashing out isn’t as easy as buying into the cryptocurrency space. Why is there a problem? The problem arises when the cryptocurrency space butts up against the realm of traditional currency and banking spheres. … “Cashing out of Crypto – Not as easy as it seems”
GBP: Groundhog Day: Attempts To Remove PM May Likely A ‘Destructive’ Development – MUFG
The pound is on the back foot Here is their view, courtesy of eFXdata: MUFG Research discusses GBP outlook in light of the current heightened state of political uncertainty in the UK which was again evident in the weekend press. “In what feels like groundhog day, there were fresh reports over the threat of a potential … “GBP: Groundhog Day: Attempts To Remove PM May Likely A ‘Destructive’ Development – MUFG”
EURGBP Looks Bearish, while USDNOK Aims for Higher Prices – Elliott wave Analysis
EURGBP can be trading at the end of a big triangle correction in wave 4); pair which can look for more weakness once the lower triangle line and the 0.8751 level gets breached. Also, a triangle correction is a continuation pattern, that unfolds prior to the final leg, and can suggest more weakness once recognized. … “EURGBP Looks Bearish, while USDNOK Aims for Higher Prices – Elliott wave Analysis”