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FOREX Analysis-Buy USD, EUR, NZD & Sell JPY, GBP, AUD, CHF

Bank of America Merrill Lunch FX Strategy Research outlines its FX trading strategy for the rest of 2017. Starting with the USD, BofAML argues that the trigger for a meaningful move higher in USD will be strongly predicated on progress on tax reform, and USD bulls will need to be more selective. On the EUR, BofAML […]

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Australian regional bank credit downgrade backs big bank levy

If the major banks harboured any hopes of a successful war against the new bank levy, ratings agency Standard & Poor’s this week punched a hole right through it. The agency’s decision to downgrade every major financial institution bar the big four and Macquarie highlights exactly why the major banks need to stump up the […]

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EUR/USD focus stays on US politics

Analysts at Danske Bank Aila Mihr assessed the recent price action around the pair. Key Quotes “CHF was the beneficiary last week, i.e. the only G10 currency that has strengthened against the euro. In our view, this suggests that the political turmoil in the US last week has been key in explaining the rise in […]

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FX Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD

EUR/USD: Bullish: Still bullish but odds for extension to 1.1300 are not high. The 1.1200 target that was first indicated last Wednesday, 17 May was exceeded as EUR staged a surprisingly strong push higher last Friday to touch a high of 1.1211. Technically, the next target is at 1.1300, the high in November last year […]

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Forex Today: GBP dumped on Brexit jitters, Fedspeaks, UK May eyed

Forex space in Asia witnessed quite a stir in early hours, as investors reacted to the weekend’s political news, especially the one out of the UK. The UK PM May and Brexit secretary Davis threatened to walk away from the Brexit negations if the country faces a massive bill of a EUR 100 billion. As […]

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OPEC heads towards supply cut extension

OPEC and other oil producers are on course to agree an extension of supply cuts at a meeting on Thursday, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut. Saudi Arabia’s energy minister said on Sunday that extending the supply cuts by a further nine […]

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Gold : Drop in US inflation expectations is a big negative

US long-term inflation expectations as represented by the 10-year breakeven inflation rate are a big driver of gold prices. The metal being a hedge for inflation usually tracks inflation expectations higher/lower. The 10-year breakeven inflation rate; the yield difference between 10-year Treasury Inflation Protected Securities (TIPS) and regular 10-year Treasury notes; dropped to 1.78% last […]

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EUR/USD – So far has retraced only 23.6% of 32-month sell-off

The EUR/USD pair may appear overbought in the short-run, courtesy of the rally from the low of 1.0341 (Jan low) to 1.1212 (Friday’s high), although when viewed on larger time frames, the rally appears more like a corrective move. So far, the pair has only retraced 23.6% (1.1202) of the drop from 1.3994 (May 2014 […]

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Week Ahead in Forex: Political Risk to Drive Dollar

James Comey to Testify in Russia probe The US dollar is lower across the board and has given all the 2017 gains to end up near pre-elections levels. The turmoil in Washington continues to be the main driving factor for markets with the potential testimony of former FBI Director James Comey on Wednesday the biggest […]

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oh sh*t CALENDAR

UPCOMING NEWS EVENTS
  • 23 May

  • TIME (GMT)

    CCY

    EVENT

    IMPACT

  • 12:30am

    JPY

    Flash Manufacturing PMI

  • 1:10am

    USD

    FOMC Member Evans Speaks

  • 4:30am

    JPY

    All Industries Activity m/m

  • 6:00am

    CHF

    Trade Balance

  • 6:00am

    EUR

    German Final GDP q/q

  • 7:00am

    EUR

    French Flash Services PMI

  • 7:00am

    EUR

    French Flash Manufacturing PMI

  • 7:30am

    EUR

    German Flash Manufacturing PMI

  • 7:30am

    EUR

    German Flash Services PMI

  • 8:00am

    EUR

    Flash Manufacturing PMI

  • 8:00am

    EUR

    Flash Services PMI

  • 8:00am

    EUR

    German Ifo Business Climate

  • 8:30am

    GBP

    Public Sector Net Borrowing

  • 9:00am

    GBP

    Inflation Report Hearings

  • 10:00am

    GBP

    CBI Realized Sales

  • 12:30pm

    CAD

    Wholesale Sales m/m

  • 1:00pm

    USD

    FOMC Member Kashkari Speaks

  • 1:45pm

    USD

    Flash Services PMI

  • 1:45pm

    USD

    Flash Manufacturing PMI

  • 2:00pm

    USD

    New Home Sales

  • 2:00pm

    USD

    Richmond Manufacturing Index

  • 7:00pm

    USD

    FOMC Member Kashkari Speaks

  • 9:00pm

    USD

    FOMC Member Harker Speaks

  • 10:45pm

    NZD

    Trade Balance

  • 24 May

  • TIME (GMT)

    CCY

    EVENT

    IMPACT

  • 12:30am

    AUD

    MI Leading Index m/m

  • 1:30am

    AUD

    Construction Work Done q/q

  • 6:00am

    EUR

    GfK German Consumer Climate

  • 9:33am

    EUR

    German 10-y Bond Auction

  • 12:45pm

    EUR

    ECB President Draghi Speaks

  • 1:00pm

    EUR

    Belgian NBB Business Climate

  • 1:00pm

    USD

    HPI m/m

  • 2:00pm

    USD

    Existing Home Sales

  • 2:00pm

    CAD

    BOC Rate Statement

  • 2:00pm

    CAD

    Overnight Rate

  • 2:30pm

    USD

    Crude Oil Inventories

  • 6:00pm

    USD

    FOMC Meeting Minutes

  • 10:00pm

    USD

    FOMC Member Kaplan Speaks

  • 25 May

  • TIME (GMT)

    CCY

    EVENT

    IMPACT

  • 2:00am

    NZD

    Annual Budget Release

  • 6:00am

    CHF

    Bank Holiday

  • 6:00am

    EUR

    French Bank Holiday

  • 7:00am

    EUR

    German Bank Holiday

  • 8:00am

    AUD

    RBA Assist Gov Debelle Speaks

  • 8:30am

    GBP

    Prelim Business Investment q/q

  • 8:30am

    GBP

    Index of Services 3m/3m

  • 8:30am

    GBP

    Second Estimate GDP q/q

  • 8:30am

    GBP

    BBA Mortgage Approvals

  • 9:15am

    ALL

    OPEC Meetings

  • 12:30pm

    USD

    Unemployment Claims

  • 12:30pm

    USD

    Goods Trade Balance

  • 12:30pm

    USD

    Prelim Wholesale Inventories m/m

  • 12:30pm

    CAD

    Corporate Profits q/q

  • 2:00pm

    USD

    FOMC Member Brainard Speaks

  • 2:30pm

    USD

    Natural Gas Storage

  • 4:00pm

    CAD

    Gov Council Member Leduc Speaks

  • 11:30pm

    JPY

    Tokyo Core CPI y/y

  • 11:30pm

    JPY

    National Core CPI y/y

  • 11:50pm

    JPY

    SPPI y/y

  • 26 May

  • TIME (GMT)

    CCY

    EVENT

    IMPACT

  • 8:03am

    EUR

    ECB Financial Stability Review

  • 12:30pm

    USD

    Prelim GDP Price Index q/q

  • 12:30pm

    USD

    Prelim GDP q/q

  • 12:30pm

    USD

    Durable Goods Orders m/m

  • 12:30pm

    USD

    Core Durable Goods Orders m/m

  • 2:00pm

    USD

    Revised UoM Consumer Sentiment

  • 2:00pm

    USD

    Revised UoM Inflation Expectations