The pound shot higher on expectations for a rate hike in November, and it is getting closer. Yet after hitting 1.36, GBP/USD slipped quite a bit. What is the trade? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the GBP has started the week on firmer footing reflecting both a reduction … “GBP: The Case For A BoE November Hike Strengthening”
Category: Opinions
RBA not expected to change rates in the near term
Summary: RBA maintains interest rates at 1.50% RBA signals that interest rates will remain steady in the near term RBA upbeat on unemployment, expects wage growth to rise Low inflation on account of oil prices, but wage growth could see giving rise to inflation GDP growth consistent with a pickup in non-mining investment The Reserve … “RBA not expected to change rates in the near term”
GBP: Trading Politics Or Trading The BoE – Nomura
GBP/USD shot higher, topping 1.36, on the BOE’s bullish stance. It then dropped on political uncertainty regarding May’s future and Brexit talks. What’s next? Here is their view, courtesy of eFXnews: Nomura FX Strategy Research notes that the GBP has underperformed in the G10 space this week as negative headlines from the Conservative Party conference, … “GBP: Trading Politics Or Trading The BoE – Nomura”
Canadian jobs report to keep the BOC on hold until 2018
The Canadian jobs report produced a small miss on the headline change in jobs but also consisted of a big jump in full-time jobs. What does it mean going forward? The team at CIBC sees the BOC staying on hold through 2017. CIBC Research comments on today Canad’a September jobs report: Here is their view, … “Canadian jobs report to keep the BOC on hold until 2018”
EURUSD Might Be Just Getting Ready for a Rise
The EURUSD pair has been trading in a close to 400 pips range since the beginning of August. The major support and resistance of this range are:Support: 1.1700 Resistance: 1.2100 Today, I am looking at the 4 Hour chart. It looks bullish based on a few factors: The price has just bounced off the major … “EURUSD Might Be Just Getting Ready for a Rise”
USD/CAD: Awaiting A Move Towards 1.2650 To Trigger A
The Canadian dollar is on the back foot after the previous gains but stabilized under 1.25. What’s next? The team at TD looks to higher ground. Here is their view, courtesy of eFXnews: TD FX Strategy Research suspects that the recent rebound in USD/CAD reflects an adjustment in positioning rather than a change in fundamentals. … “USD/CAD: Awaiting A Move Towards 1.2650 To Trigger A”
Trading off the Phoenix Economy
Like life, countries, and economies go through different periods, sometimes difficult sometimes strong. There are times when the world is knocking at your door, desperate for that commodity or service that your country exports. Most countries can point to a time when this was the case. History will show that India exported spices, China – … “Trading off the Phoenix Economy”
USD/JPY: There Is A Pattern For Price Action When Snap
Japanese PM Shinzo Abe called a snap election in Japan. This is not the first time and the team at BTMU seems a pattern. Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that USD/JPY tends to rise when snap elections are called, correlated to the Nikkei stock price index. “Seasonal JPY repatriation … “USD/JPY: There Is A Pattern For Price Action When Snap”
EURUSD and AUDUSD Looking Bullish
Today I am looking at two currency pairs- EURUSD and AUDUSD. Why did they get my attention? Let’s start by first looking at the EURUSD. EURUSD Analysis Above is the Daily chart of EURUSD. First, I am looking at the EURUSD daily chart. It looks more bullish than bearish. There is a major support level … “EURUSD and AUDUSD Looking Bullish”
CAD: Poloz Speech Confirms Our View Next BoC Hike Will
The Canadian dollar was beaten by Poloz. He is preoccupied with low inflation and the pace of rate hikes is set to slow down. And when will it come? Here is their view, courtesy of eFXnews: CIBC Research comments on today’s speech by BoC Governor Poloz. “In a speech to a St John’s audience, the … “CAD: Poloz Speech Confirms Our View Next BoC Hike Will”