Sterling Jittery ahead of Brexit Speech

A quick spot check on the markets and heading through towards the European open on Monday shows the Pound is under pressure falling below 1.2000 against the United States dollar and as weekend press report suggested that Tuesday’s speech from the United Kingdom Prime Minister Theresa May, will have her outline the UK’s willingness to […]

Markets on the Lookout for Trump Speech

Markets on the lookout for Trump speech. GBP/USD is currently trading at about 1.2160, GBP/EUR is also trading higher than where it was this time on Tuesday (just above the 1.1500 level). Speculators may be coming into Sterling in the past 24- hours or so, limiting the falls in the Sterling, just selling off a […]

Global Foreign Exchange Market News Update

In global foreign exchange market news, GBP/USD is currently trading at about 1.2190, GBP/EUR is trading into the mid 1.1500’s, with the Sterling both lower against the US dollar and the Euro over the course of the Asian session overnight as Euro walks in continuing to take the Sterling lower. Comments from Theresa May on […]

Subdued start for the markets this trading week

Markets are off to a slow start as most major exchanges are still closed for the holiday. Over the weekend, China printed its official manufacturing and non-manufacturing PMI readings which seem to have dampened investor sentiment. The official manufacturing PMI is down from 51.7 to 51.4 versus the projected dip to 51.6 while the non-manufacturing […]

Dollar bulls losing steam?

Weaker than expected economic data from the US forced the Greenback to retreat against the Japanese yen, as bond yields dipped as well. Pending home sales sank by 2.5% instead of posting the projected 0.6% gain. However, the dollar still managed to retain its lead against the European currencies and the comdolls, partly due to […]

Major pairs still on vacation mode

Major pairs are still on vacation mode as dollar price action was subdued even as US equities posted modest gains while risk aversion supported lower-yielding currencies. There were no reports out of the US economy today while today has the CB consumer confidence index and the Richmond manufacturing index on tap as markets reopen. Analysts […]

Holiday Season, Markets Flat on Thin Trading

The Asian session today started off quiet, with traders from Japan returning from a lengthy holiday break, only to be faced with softer CPI numbers from Japan. The OZ markets remained shut today in observance of Christmas Day. Profiting from the resurgent greenback demand along with not too good Japanese data is the USD/JPY pair, […]

Markets Pretty Much Losing Steam

GBP/USD is currently trading at about 1.2360, GBP/EUR is trading at about 1.1870, the GBP/USD was seen hitting a couple of 1- month lows on Tuesday on the back of a strong US dollar, not too much of a weak Sterling story, while the GBP/EUR is fairly quiet. These markets are primed for Christmas now, […]

Sterling retreats after BOE statement

The Sterling was slightly weaker for the day as the Bank of England didn’t sound as upbeat as expected in their latest policy statement. Governor Carney attempted to downplay the pickup in inflation, despite seeing stronger than expected headline and core CPI readings earlier in the week, by saying that the pound’s recent appreciation could […]

Dollar pairs consolidate before FOMC decision

Major currency pairs traded mostly sideways in the past few sessions as market watchers are gearing up for the FOMC statement. An interest rate hike is widely expected but changes in the dot plot forecasts and economic projections could have a bigger impact on dollar movement, both in the short-term and long-term. Traders are also […]