Forex News

Coronavirus, Weaker PPI hitting AUD/USD

Fears of an increase in the contagion of the coronavirus have been causing a selloff in the Australian Dollar across the board.   As we have discussed during the US-China trade war, the Australian economy is directly tied to China’s economy.  China is a large importer of Australian goods and services.  Therefore, if China’s economy is …

OIL MARKET WEEK AHEAD: “Shanghai-ed” by the Virus

Normally by this point in the Chinese New Year holiday, China would have started returning to business as usual, but instead next week 14 provinces will not open for business. This includes key manufacturing regions in the east of the country, a newly-built Tesla plant, China’s largest port in Shanghai, and an iPhone plant in …

Week Ahead: Coronavirus Continues to Remain Market Focus

Market participants began the week wondering whether China would be able to contain the Coronavirus or if it would spread across the country and to other parts of the world.  Markets quickly discovered the answer, and it wasn’t good for risk.  For the most part, the FOMC was a non-event.  However, the BOE did cause …

US Q4 GDP in Line but the Devil is in the Details

The markets appear to be taking the first look at the US GDP Growth Rate for Q4 in stride.   The headline number was in line with expectations of 2.1% vs a Q3 reading of 2.1%.  Net exports contributed to a large portion of this increase, which is a good thing.  However, personal consumption, which the …

Coronavirus: Potential Signs of Containment and Key Markets to Watch

This week, traders have been weighing generally optimistic signs from massive US technology companies against the continued spread of coronavirus. So far, coronavirus fears are winning out, as seen by the week-to-date drop in major global indices and rally in traditional safe havens like gold and bonds. That said, the situation is far from resolved, …

It may be Time for USD/CAD to Pullback

After the Bank of Canada meeting on January 23rd , USD/CAD took off higher and hasn’t looked back.  Although the BOC kept rates unchanged, they were one of the final major central banks to move from a neutral to a dovish stance.   Heading into December 2019, much of the data from Canada had been worse …

BREXIT: Hints of Clarity as the UK Enters an 11-Month Transition Period

For traders who have gotten caught up in all the news around US-China trade relations, fears of military conflict in the Middle East, the spread of coronavirus, or US company earnings, I have a reminder: The UK will officially leave the European Union on Friday, 31 January. What will change? Essentially nothing, at least at …

Will the BoE cut rates?

When: Thursday 30th January at 12 noon (rate decision) & 12:30 (press conference).  The BoE will give its first monetary policy decision of the year and of the decade on Thursday. This will also be the last rate decision prior to Brexit and the last meeting with Mark Carney at the helm. So, will the …

The Impact of the Coronavirus on USD/CNH

As the Chinese markets remain closed for the Lunar New Year Holiday, which was recently extended until February  2nd, the impact of the Coronavirus on China can be seen through the USD/CNH.  With the spread of the virus throughout China, southeast Asia, and even across the world, many have questioned what the impact will be …

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