The ISM Non-Manufacturing PMI provides insights about the broad services sector and also serves as a hint towards the NFP. The indicator may test the question if the US Dollar has reached overbought conditions. The purchasing managers’ index for the services sector is published by ISM on Thursday, May 3rd, at 14:00 GMT. The services … “Services sector survey could determine the dollar correction”
Category: Opinions
USD: FOMC Unlikely To Trigger Fresh Bullish Triggers For USD On Wed – BTMU
Has the greenback gone too far? Perhaps a hawkish Fed may not be enough after the recent stretch. Here is the view from BTMU: Here is their view, courtesy of eFXdata: BTMU Research discusses the USD outlook around the FOMC decision on Wednesday. “The Fed is expected to acknowledge that inflation has come closer to … “USD: FOMC Unlikely To Trigger Fresh Bullish Triggers For USD On Wed – BTMU”
The dollar should enjoy the ISM Manufacturing PMI and the Prices Paid component
The ISM Manufacturing PMI is the first hint towards the NFP, but the Prices component may steal the show. The US Dollar is well-positioned to take advantage of the outcome. The Institute for Supply Management’s purchasing managers’ index for the manufacturing sector is published on Wednesday, May 1st, at 14:00. The first day of the … “The dollar should enjoy the ISM Manufacturing PMI and the Prices Paid component”
ECB Analysis: Draghi was not dovish and the euro likes it
ECB President Mario Draghi referred to the recent moderation in growth but expressed confidence that the recovery remains solid. The EUR/USD is bouncing after touching the lowest levels since January 12th. The ECB left all its policy measures unchanged and did not touch the statement as expected. ECB President Mario Draghi did not drag the Euro … “ECB Analysis: Draghi was not dovish and the euro likes it”
Dollar Domination unlikely deterred by slower GDP – Preview
The first estimate for first-quarter GDP growth is expected to show a slowdown amid seasonal factors. Slower growth is unlikely to derail the Fed from remaining upbeat on the economy. Barring a total shock, the US Dollar is unlikely to lose its upward momentum. The US publishes its first read of GDP growth for Q1 … “Dollar Domination unlikely deterred by slower GDP – Preview”
Kuroda gets a low yen for his 5th anniversary at the BOJ – no policy change likely
The Bank of Japan makes its rate decision as Governor Kuroda completes five years to the massive QQE program. The BOJ is expected to keep its ultra-loose monetary policy and provide more details in its quarterly report. The recent fall in the value of the Yen is encouraging for the Bank. Why this meeting is … “Kuroda gets a low yen for his 5th anniversary at the BOJ – no policy change likely”
EUR/USD: A Cautious ECB To Keep A Lid On EUR – Barclays
The European Central Bank convenes on Thursday to make its decision. Will Draghi drag the euro down? Here is the view from Barclays: Here is their view, courtesy of eFXdata: Barclays Research discusses the EUR outlook around the ECB meeting on Thursday and expects a cautious tone from President Draghi which could keep the EUR contained for … “EUR/USD: A Cautious ECB To Keep A Lid On EUR – Barclays”
All’s Fair In A Trade War—China’s Payback Could Hurt Markets Even More
The real problem with a possible trade war between China and the United States is that nobody knows what it would look like. For years, the successive US and Chinese leaders have left that hot potato well alone knowing the potential pain it could bring. However, Donald Trump is not a typical US president. There … “All’s Fair In A Trade War—China’s Payback Could Hurt Markets Even More”
GBP/USD: Squeeze Has Some Room To Go On Fading Well-Populated Long Positions – TD
The pound suffered from stagnant wages, weak inflation, falling retail sales, a dovish Carney and worries about the Irish border. So, the falls may not be over just yet. Here is their view, courtesy of eFXdata: TD Research discusses GBP outlook and keeps flagging near-term downside risks, noticing that GBP continues to lag the broader … “GBP/USD: Squeeze Has Some Room To Go On Fading Well-Populated Long Positions – TD”
CAD: Balanced BoC Tone; Comfortable Keeping Our Call For A July Hike – CIBC
The Bank of Canada left rates unchanged and increased its estimate for the output gap. Nevertheless, the hawkish bias remains. What’s next? Here is their view, courtesy of eFXdata: CIBC Research discusses the reaction to today’s BoC policy meeting and notes that the BoC statement struck a fairly balanced tone today, which leaves CIBC comfortable with expecting … “CAD: Balanced BoC Tone; Comfortable Keeping Our Call For A July Hike – CIBC”