Fears Heighten as Australian GDP Crumbles

  A quick spot check on the markets heading through towards the Wednesday open, Aussie dollar is the biggest loser. GDP actually contracted for the first time since the financial crisis back in 2008, falling by 0.5%. The primary culprit there being a lower government spending an also a surge in imports over in Australia. […]

Euro Eliminates Italian Referendum Risk for Now

GBP/USD is currently trading at about 1.2750, GBP/EUR is trading at about 1.1860, as we see the GBP/USD trading higher and the GBP/EUR is trading lower than where we were 24-hours ago. Once again, we have another political 24-hours in currency markets, especially in Europe. The fallout from the Italian referendum is starting to drift […]

Dollar retreats ahead of NFP release

The US dollar returned some of its recent gains against its Forex counterparts, even though economic reports came in mostly stronger than expected. The ISM manufacturing PMI was up from 51.9 to 53.2, higher than the projected 52.1 figure, reflecting a stronger pace of industry growth. However, the jobs component posted a small decline, while […]

Loonie slumps on lower OPEC deal odds

The oil-related Canadian dollar returned some of its recent gains after Iran’s oil minister stated that they won’t be cutting production at all. Instead of agreeing to OPEC proposals on output levels or the suggestions from Algeria, Iran wants to set its production limits higher in order to make up for the revenues they lost […]

Global Foreign Exchange Market News Update

In global foreign exchange market news, a quick spot check into the markets heading into the new week shows the dollar rally somewhat fizzled over the weekend to the benefit of the EUR/USD and GBP/USD. There’s nothing really new in terms of economics, just the market taking opportunity to crystallize some of those dollar gains […]

Fewer Fiscal Fireworks

A quick spot check at the market will be the main event of course at 12:30 (BST) is Chancellor Philip Hammond taking to the stand in the House of Commons to present his autumn statement. Now, this is probably his most important speech so far in his position since he took the role under Theresa […]

Trumpflation Steers the Markets

A quick spot check at the markets coming to this week, shows the U.S. dollar stories continued from the past four nights or so, where so called “Trumpflation” is really inspiring the markets i.e. pricing in a December rate hike from the Federal Reserve. This is a theory that a Trump administration with a mixed […]

Global Foreign Exchange Market News Update

In global foreign exchange market news, GBP/USD is currently trading at about 1.3050, GBP/EUR is trading at about 1.1619, as GBP/EUR and GBP/USD both trading a little bit lower than they were on Friday morning. It is a big week for Washington, it is a big week for Tokyo, with the Federal Reserve and Bank […]

US Greenback Bulls Charge the Market

Surging to multi-months high is the US Dollar Index, keeping up with the gains that were seen last week and pressured by the rise in yields on US Treasury instruments. Yields have continued to push higher following the surprising presidential race victory by the Republican Donald Trump over the Democratic candidate Hillary Clinton. The Japanese […]

Sterling takes part in risk-on flows

Sterling was one of the top performers for the day, joining the higher-yielding currencies in taking advantage of the pickup in risk appetite. There were no major reports out of the UK economy yesterday so the rallies were presumably spurred by traders trying to adopt a glass half-full view of Brexit. GBP/USD climbed from the […]