USD slumped on FOMC decision

The Greenback gave up ground when the FOMC decided to keep interest rates on hold at <0.50% for the time being, even as three committee members dissented. Still, this represented a shift to a more hawkish stance compared to past meetings wherein only Esther George voted for a hike. Fed Chairperson Yellen acknowledged that the […]

Fed Stays Numb due to Caution

(Fed news), GBP/USD is currently trading just below that 1.3000 level (1.2985), GBP/EUR is down into the 1.1600s (about 1.1650 this morning), with the Sterling creeping lower over the course of Tuesday’s session. There are no real Sterling drivers of this, as Brexit related weakness is always going to be playing on investor’s minds as […]

The Market Continues to Wait

GBP/USD is currently trading at about 1.3040, GBP/EUR is trading at about 1.1670, with the GBP/EUR and GBP/USD staying very quiet over the course of the past 24 hours, with little moves since Monday’s open. At the moment, we’re not expecting too much movements in the market actually and so overnight with the Bank of […]

Volatility Drives the Market as Asian Stocks Test 6-Week Trough

A quick spot check on the markets from the start of the week shows Sterling has weaken slightly, despite inflation on Tuesday actually coming lower than expected. So many had seen some import price jumps taking place after the vote to leave the European Union as Sterling weakened and import prices as such increase. Nonetheless, […]

Global Foreign Exchange Market News Update

The views expressed by Fed Governor Lael Brainard during his Monday’s speech are supportive of the Federal Reserve leaving interest rates unchanged next week, a view that has aided the global markets rebound off their fresh lows. Brainard was quoted on Monday at the Chicago Council on Global Affairs that, “Today’s new normal counsels prudence […]

Loonie dips on cautious BOC statement

The BOC kept interest rates unchanged at 0.50% as expected but the Canadian currency was mostly weaker after the announcement, which sounded more cautious than usual. While Governor Poloz acknowledged that growth had slowed in Q2 due to the fires in Alberta and slower export activity, he did say that policymakers expect economic activity to […]

Brexit & Trade Focus Tops G20, Greece Returns to the Table

GBP/USD is currently trading at about 1.3350, GBP/EUR is back into the 1.1900’s (actually around the 1.1960 level) as we open up this Tuesday session. The Sterling is rallying once again, but then falling back later in the day after another strong PMI number, another bounce back for the UK economy following the initial vote […]

Global Foreign Exchange Market News Update

GBP/USD is currently trading at about 1.3300 the figure, GBP/EUR is trading at about 1.1900, with the Sterling higher across the course of the weekend as we head towards the most important PMI from the UK this month. We’ve had manufacturing and construction, but the services number is due at 09:30 BST. We are forecasting […]

Yen pairs advance for yet another day

The Japanese yen was still the weakest performer among the bunch as traders kept pricing in stronger odds of additional BOJ easing on weak data from Japan. The latest capital spending report for Q2 printed a lower than expected 3.1% gain versus the projected 5.6% increase and the previous 4.2% rise. Soon after, the final […]

Janet Yellen Positions for December

GBP/USD is currently trading at about 1.3070, GBP/EUR is trading at about 1.1700 the figure, with the Sterling a little bit lower against the resurgent U.S. dollar over the course of Monday’s session and the Asian session overnight. GBP/EUR is not really doing too much in the grand scheme of things. The focus has very […]