The US gained only 156K non-farm jobs in August, weaker than expected. Moreover, wages advanced by only 2.5% y/y, not going anywhere fast. The team at CIBC looks forward to the next events. CIBC Strategy Research comments on today’s US August jobs report: “One of these days, all that US job creation is going to spill … “USD: No Hint Of Inflation In Aug Payrolls; Dec Rate”
Category: Opinions
CAD: Where To Target USD/CAD N-Term As It’s Starting To
USD/CAD made another attempt at the lows but recovered quite swiftly. What’s next? Here is the view from TD: Here is their view, courtesy of eFXnews: D FX Strategy Research argues that the broad trend in the USD will set the tone in USD/CAD as the pair is undergoing a good recovery this week. “Based on a … “CAD: Where To Target USD/CAD N-Term As It’s Starting To”
GBP: Negative Brexit Sentiment Weights But Not Much Further
Brexit talks are into their third round. While the UK offered some concessions, the EU does not see enough progress. What does this mean for the pound? The team at BTMU analyzes: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research argues that while the negative Brexit sentiment could put a downside pressure on GBP over … “GBP: Negative Brexit Sentiment Weights But Not Much Further”
What Is Draghi’s EUR Pain Threshold? – Credit Agricole
The ECB convenes in around one week. Will the ECB announce QE? A lot depends on the exchange rate. The team at Credit Agricole discusses the “pain threshold”. Here is their view, courtesy of eFXnews: Credit Agricole CIB FX Strategy Research notes that after months of waiting we have reached what could be described as … “What Is Draghi’s EUR Pain Threshold? – Credit Agricole”
USD/JPY: A Breakdown Below Weekly Ichimoku Cloud Key; Levels
USD/JPY is edging lower, dancing above the 108.10 level after North Korea fired a missile over Japan. The team at Bank of America Merrill Lynch examines the weekly Ichimoku cloud and lists the next levels to watch out for. Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research notes … “USD/JPY: A Breakdown Below Weekly Ichimoku Cloud Key; Levels”
USD/CAD: Could Make Another Brief Foray Below 1.25 But
The Canadian dollar had a huge run, made a significant correction and now seems to lift its head once again. What’s next? Here is the view from CIBC: Here is their view, courtesy of eFXnews: CIBC FX Strategy Research argues that while USD/CAD could see another brief foray below 1.25, it’s unlikely to see a sustainable … “USD/CAD: Could Make Another Brief Foray Below 1.25 But”
EUR/USD: Overshoot; Technicals Point To A Tactical Retracement; Levels
EUR/USD is drifting higher, but in a relatively narrow range. Has it gone too far? Here is the view from Barclays: Here is their view, courtesy of eFXnews: Barclays Capital FX Strategy Research argues that EUR/USD has likely overshot and expects monetary policy divergence to remain an important element for a tactical retracement. Barclays also notes … “EUR/USD: Overshoot; Technicals Point To A Tactical Retracement; Levels”
EUR/USD and the 1.20 challenge – two views
EUR/USD is entrenched at the 1.17 handle, with 1.20 still looming above. Some say that oil prices are well-correlated to the 1.20 barrier. Here are two opinions: EUR/USD: 1.20 Remains A Realistic Short-Term Target – BTMU BTMU FX Strategy Research believes EUR/USD break and settling above 1.1714 intra-day high from 2015, which takes EUR/USD to levels … “EUR/USD and the 1.20 challenge – two views”
USD: A Challenging September Before Better Prospects In Q4
The Jackson Hole Symposium is awaiting us at the end of the week, and already causing tensions for markets. What can we expect for the US dollar ahead of the big event and moving into September? Here is their view, courtesy of eFXnews: BNP Pariabs FX Strategy Research notes that the USD will face a … “USD: A Challenging September Before Better Prospects In Q4”
Quiet Times for Markets Tend to End With Big Drops
Could today be such a day? I have been monitoring the US indices for quite some time now. I am in no way trying to pick a top, but sometimes it is just great to share your observations. Correct me if I am wrong, but US indices look exhausted. I have been recently looking at … “Quiet Times for Markets Tend to End With Big Drops”