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Also China not helping because of trade spat… Here is the series of tweets (read from the bottom up).   Despite calling off the meeting Trump ends with “I would like to send my warmest regards a respected Chairman Kim. I look forward to seeing you soon!” Another letter from Kim might be delivered soon: HMMMM…
Talking Points: – The Jackson Hole Economic Symposium is now underway and there have been multiple Central Banker interviews already on financial television. Today is marked by a series of speeches and interviews and this produces a backdrop that could bring continued volatility throughout the day. Potentially complicating matters for short-term traders is the fact
Range-bound trading prevailing so far in the session ForexLive The major currencies bloc snapshot is very much similar to what we had three hours ago as yet another dud of a morning is taking place in European trading today. The aussie remains the leader following an earlier spike following the Scott Morrison’s takeover as Australia
Imre Speizer, Research Analyst at Westpac, explains that the NZD/USD’s trend decline stalled last week, as expected, bouncing off 0.6545 to test a key technical level at 0.6720. Key Quotes “As long as it remains below this level, though, the downtrend and our year-end target of 0.64 by year end remain intact. Much higher, though,
Analysts at Nomura offered their model’s projection for today’s fix in USD/CNY. Key Quotes: “Our model1 projects the fix to be 444 pips higher than the previous fix (6.8811 from 6.8367) and 121 pips higher than the previous official spot USD/CNY close of 6.8690. The basket implied change is 151 pips higher than the previous official
Australian Dollar Talking Points AUD/USD gives back the rebound this month as Australia Prime Minister Malcolm Turnbull struggles to secure his seat, and the exchange rate appears to be on track to test the August-low (0.7203) as it snaps the series of higher highs & lows carried over from earlier this week. Bearish AUD/USD Trends
Bill Diviney, senior economist at ABN Amro explained that following the conviction of President Trump’s former campaign manager Paul Manafort, and the guilty plea of his former lawyer Michael Cohen, speculation has increased that the President may face impeachment proceedings should the Democrats win a majority in the House at the 6 November midterm elections. Key
Talking Points: – Gold’s appeal as a safe haven has been called into question after a weak performance during the most recent period of market stress. – Rising short-term interest rates in the US, coupled with a strong US Dollar, have limited the appeal of Gold in the near-term. – Retail traders remain net-long Gold,
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Jens Pedersen, Senior Analyst at Danske Bank, gives his opinion on the current developments around the buck. Key Quotes “In G10, EUR/USD moved higher yesterday towards the 1.16 level aided by further stabilization in risk sentiment and development in the personal investigation against US President Trump”. “Trade talks could be important to keep an eye
Analysts at TD Securities explained that New Zealand real retail sales jumped by +1.1%/q, smashing even the most optimistic +0.8%/q forecast (mkt +0.3%/q). Key Quotes: “11/15 industries expanded in the quarter. After +4.7%/q blockbuster Building supplies, other contributors to the strong result were Food and beverage services (+1.7%/q) and Dept stores (+2.8%/q).Broad-based strength dilutes concerns
Resistance held like it was supposed to… The tough nut to crack at the 100 hour MA, trend line, 50% was indeed a tough nut to crack (see earlier post). The price has now rotated back lower.  The price has moved back down to test the Friday lows at the 110.318. A move below should
Below are the key quotes, via Reuters, from the opening remarks by Michel Barnier, European Commission Chief Negotiator for Article 50 Negotiations with the UK.  Negotiations are entering the ‘final stage’. After July talks, we’re far more advanced in defining common ground for security cooperation than trade. EU single market must be respected in economic
Latest data released by the Confederation of British Industry – 21 August 2018 Prior 11 Trends selling prices 15 vs 14 expected Prior 13 ForexLive Readings above 0 indicates optimism while below indicates pessimism. The headline is a survey on manufacturers to rate the level of volume for orders expected during the next 3 months. Factory