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FxPro Currency Check 0730 24.04.2015

FxPro Currency Check 0730 24.04.2015

Simon Smith

The dollar impact on earnings

With the US in the depths of the earnings seasons, it's noticable once again the extent to which the dollar has been impacting some of the biggest US companies. The dollar index was up nearly 9% during Q1, following on from the substantial gains of the second half of 2014. The recent Fed minutes showed the extent to which the US currency is featuring in the Fed's thinking. As we've said before, the extent of the dollar rally seen since the middle of last year is unprecedented in the era of ...

FxProTV

FxPro Interview with TipTV – FxPro Quant Strategy Builder & GBPUSD

Simon Smith

The importance of yields

The standout in yesterday’s trading was sterling, where the minutes to the latest MPC meeting pushed home the point that the next move in rates is going to be up, even if they gave little away in terms of timing. We pointed out the near-term potential for sterling which has come to fruition, but the currency is coming under some pressure this morning and is seen back below the 1.50 level on cable. We have 2 weeks to go before the general election and sterling is likely to become increasingly ...

Angus Campbell

Many Reasons for UK Political Stalemate

With the manifestos out of the way and as we head towards the final stretch of the election campaigns culminating with the General Election, political deadlock remains in place. Neither of the two main parties have gained the upper hand with polls suggesting a very tight race to the finish line. So why are the Conservatives not getting more traction when it would seem they have quite a few trump cards? They have after all had much of the limelight with the budget in March which was widely seen ...

Simon Smith

Potential for sterling

The stand-out in overnight trade has been the rise in the Aussie, which gained some comfort from the better than expected print on CPI data. The trimmed and weighted measures were above expectations at 2.3% and 2.4% respectively. Yesterday's minutes from the RBA again re-iterated the view that further easing "may be appropriate" and the longer held view that further depreciation was likely given recent trends in commodity prices. The Aussie moved towards the 0.7780 level as a result, which puts ...

Angus Campbell

Greece decides state or IMF

After a week of dollar weakness some tentative buyers are returning leading to some reversals of the very near term trends amongst the majors. AUDUSD has retraced from above the 0.7800 level and sits around 0.7700 this morning, GBPUSD has pulled back from 1.5000 to trade at 1.4855 and EURUSD is back from above 1.0800 to 1.0680 at the time of writing. All three majors face their own risks when it comes to a weak outlook with a central bank remaining vocal in wanting to see its currency ...

Angus Campbell

Dollar pause

The US dollar struggled last week and market participants are increasingly challenging the ability of the greenback to continue the upward trend that it commenced last summer. The dollar index has appreciated over 20% in the past ten months and the recent weakness in US economic data is one of the main reasons for investors having second thoughts about the dollar bull market. Expectations for the first rate hike have been pushed back considerably with the number looking for June to mark the ...

FxProTV

FxPro Currency Check 0730 17.04.2015

FxPro Currency Check 0730 17.04.2015

Angus Campbell

Euro’s turn to defy gravity

The euro has held up very strongly in the face of mounting concerns that Greece will soon have to leave the Eurozone. The IMF have been very vocal in their concerns that Greece is on the cusp of either being late with one of its up and coming repayments or missing it altogether, with the next €200 due on 1st May (a Bank Holiday for most), followed by another €770m on 12th May. This will be averted if reform negotiations are concluded by 24th April and bailout funds are released, but few in ...

Angus Campbell

Aussie defies gravity

The big stand out from last night was the Aussie which has spiked on the back of a much unexpected decline in unemployment. AUDUSD is now back in the mid 0.7700 area marking a two week high as the Australian economy created more than double the amount of jobs expected in March and February’s rise was revised upwards almost threefold. The Aussie has also benefitted from strength in commodities as crude prices have also spiked on the back of a drop in US production and oil stocks. A number of ...

FxProTV

FxPro Currency Check 0730 16.04.2015

FxPro Currency Check 0730 16.04.2015

FxProTV

FxPro Interview with TipTV – FxPro Slippage Statistics and ECB

FxProTV

FxPro Currency Check 0730 15.04.2015

FxPro Currency Check 0730 15.04.2015

Angus Campbell

Concerns rise over Chinese economic slowdown

Chinese GDP data overnight has fallen to its lowest level for six years and whilst it is in line with expectations a little risk aversion has set into the markets overnight and this morning. It is the industrial production and retail sales numbers that have worried investors causing Asian stocks to decline during their session and the dollar has perked up recouping some of yesterday’s losses. Whilst many Asian stocks have been rallying for months on the prospect of further stimulus from central ...

FxProTV

FxPro Currency Check 0730 14.04.2015

FxPro Currency Check 0730 14.04.2015