“When it comes to the story of sluggish wage growth, the Groundhog Day we’ve been seeing since June last year has finally changed its tune,” argues ING’s chief international economist, James Knightley. ”January saw wage growth finally pick-up for full-time workers, and we don’t expect this to just be a temporary relief.” Key quotes “After the hiring
“This week’s growth revisions have underpinned the downside risk to global activity this year,” points out Rabobank’s Senior FX Strategist Jane Foley. Key quotes “Although risky assets have had a good start to the year on the back of the more dovish outlook of the Federal Reserve and (potentially misplaced) optimism regarding a US-China trade deal,
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   •  The precious metal reversed an early dip and jumped to fresh session tops in the last hour, turning higher for the second straight session.    •  The positive momentum has been strong enough to lift the commodity beyond a descending trend-channel formation on the 1-hourly chart.     •  Technical indicators on mentioned charts
The USD/INR pair fell 0.41 percent yesterday – its biggest single-day decline since Jan. 4 – and could extend the drop to 71.00 today.  Daily chart The pair charted a bearish Marubozu candle yesterday, which essentially means the bears remained in control throughout the day.  The back-to-back rejections at the 100-day moving average (MA) and
USD/CAD is a notable gainer on the session. Weakness in oil is generally weighing on the CAD, but more widely the USD is showing broader strength also: EUR/USD dribbling down a touch, AUD and NZD both weak USD/CHF knocking on the door of its US afternoon highs USD/JPY is lower though ForexLive
AUD/USD falls further Normally, the RBA is pretty good at communication. They try to speak in plain language and have for a long time signaled that the next move in rates was most likely to be higher. Tuesday’s RBA statement was a bit more pessimistic but sounded like nothing had changed with the plan. The
Politico reports ForexLive The report mainly highlights that negotiations between the two parties are seen as an act of ‘political theater’, with both sides seemingly to have insurmountable obstacles which would seem to ‘kill off trade talks’ even before they have begun. Brussels is still looking to prevent Trump from imposing a 25% tariff on