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Daily Market Outlook by Kate Curtis from Trader's Way
- Thread starter katetrades
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katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 7, 2015)
USD
The US dollar tossed and turned after the release of the jobs report, which indicated a weaker than expected headline figure of 173K versus the projected 225K reading. Despite that, the jobless rate improved from 5.3% to 5.1% in August while the participation rate held steady. Average hourly earnings ticked up by 0.3% versus the estimated 0.2% gain while the average workweek also showed an increase in hours. US banks are on Labor Day holiday today, which means that stock trading is closed and that the dollar could be in for consolidation.
EUR
The euro was still in a weak spot at the end of the trading week, following ECB Governor Draghi's announcement that the central bank is open to further easing. Data from the euro zone was weaker than expected since the German factory orders report indicated a 1.4% slide versus the estimated 0.5% drop. Only the euro zone Sentix investor confidence index is due today and a drop from 18.4 to 16.2 is eyed.
GBP
The pound was barely able to take advantage of dollar weakness, as the British currency was still reeling from the bleak PMI readings. There have been no reports out of the UK on Friday while today has the BRC retail sales monitor on tap. Despite that, pound pairs are expected to move carefully ahead of the BOE statement and MPC minutes later on.
CHF
The franc barely took the lead on Friday, as the Swiss CPI simply came in line with expectations. The report showed a 0.2% drop in price levels for August, following the previous 0.6% decline. Swiss foreign currency reserves data is lined up for today and this should give traders an idea of whether or not the SNB is intervening in the currency market to keep the franc weak.
JPY
The yen continued to advance against its rivals, as risk aversion extended its stay in the financial markets. Average cash earnings came in weaker than expected at 0.6% versus the projected 2.1% increase. Later on, Japan will print its final GDP reading for Q2, current account balance, and Economy Watchers sentiment index.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were still in a weak spot last Friday, despite the rebounds seen in commodity prices that week. Data from Canada was mostly stronger than expected, with the economy adding 17K versus 2K jobs in August. However, the jobless rate ticked up from 6.8% to 7.0% in the same month. Meanwhile, the Ivey PMI improved from 52.9 to 58.0, outpacing the consensus at 53.5. For today, Australia reported a 1.0% increase in ANZ job advertisements, setting the stage for an upbeat jobs report later on. Canadian banks are closed for the holiday.
By Kate Curtis from Trader's Way
USD
The US dollar tossed and turned after the release of the jobs report, which indicated a weaker than expected headline figure of 173K versus the projected 225K reading. Despite that, the jobless rate improved from 5.3% to 5.1% in August while the participation rate held steady. Average hourly earnings ticked up by 0.3% versus the estimated 0.2% gain while the average workweek also showed an increase in hours. US banks are on Labor Day holiday today, which means that stock trading is closed and that the dollar could be in for consolidation.
EUR
The euro was still in a weak spot at the end of the trading week, following ECB Governor Draghi's announcement that the central bank is open to further easing. Data from the euro zone was weaker than expected since the German factory orders report indicated a 1.4% slide versus the estimated 0.5% drop. Only the euro zone Sentix investor confidence index is due today and a drop from 18.4 to 16.2 is eyed.
GBP
The pound was barely able to take advantage of dollar weakness, as the British currency was still reeling from the bleak PMI readings. There have been no reports out of the UK on Friday while today has the BRC retail sales monitor on tap. Despite that, pound pairs are expected to move carefully ahead of the BOE statement and MPC minutes later on.
CHF
The franc barely took the lead on Friday, as the Swiss CPI simply came in line with expectations. The report showed a 0.2% drop in price levels for August, following the previous 0.6% decline. Swiss foreign currency reserves data is lined up for today and this should give traders an idea of whether or not the SNB is intervening in the currency market to keep the franc weak.
JPY
The yen continued to advance against its rivals, as risk aversion extended its stay in the financial markets. Average cash earnings came in weaker than expected at 0.6% versus the projected 2.1% increase. Later on, Japan will print its final GDP reading for Q2, current account balance, and Economy Watchers sentiment index.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were still in a weak spot last Friday, despite the rebounds seen in commodity prices that week. Data from Canada was mostly stronger than expected, with the economy adding 17K versus 2K jobs in August. However, the jobless rate ticked up from 6.8% to 7.0% in the same month. Meanwhile, the Ivey PMI improved from 52.9 to 58.0, outpacing the consensus at 53.5. For today, Australia reported a 1.0% increase in ANZ job advertisements, setting the stage for an upbeat jobs report later on. Canadian banks are closed for the holiday.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 8, 2015)
USD
The US dollar chalked up small gains against its forex counterparts despite the lack of liquidity in yesterday's market. US traders were off on a Labor Day holiday and there were no reports from the US economy. For today, only low-tier reports such as the NFIB small business index and labor market conditions index are lined up, leaving the US dollar sensitive to risk flows.
EUR
The euro managed to edge slightly higher against the dollar in recent trading, taking advantage of the absence of US traders. Data from the euro zone was weaker than expected, with the German industrial production report printing a meager 0.7% gain versus the projected 1.2% increase and the Sentix investor confidence figure falling from 18.4 to 13.6. For today, only the German and French trade balance are lined up, along with the revised euro zone GDP reading.
GBP
The pound was able to bounce back in yesterday's trading sessions even though there were no major reports released from the UK. The UK economic schedule is still empty today, which suggests that the pound might take its cue from market sentiment or that traders might position themselves ahead of the BOE announcement later on.
CHF
The franc regained a bit of ground in recent trading sessions, as the Swiss foreign currency reserves report didn't indicate any signs of central bank intervention. The Swiss jobless rate is up for release today and it is expected to hold steady at 3.3%.
JPY
The yen was still able to advance yesterday as the return of Chinese investors spurred risk-off moves during the Asian trading session. Data from Japan was mostly stronger than expected, with the current account balance showing a larger surplus and the final GDP reading revised from -0.4% to -0.3%. There are no major reports due from the Japanese economy today.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were mostly stuck in consolidation in recent trading, as Canadian traders were also off on a holiday. Data from Australia and New Zealand showed promising results, as the ANZ job advertisements in Australia indicated a 1.0% gain while manufacturing sales picked up by 0.4% in New Zealand for Q2. Earlier today, Australia's NAB business confidence index for August printed a decline from 4 to 1 but the Chinese trade balance showed a stronger than expected headline reading and a smaller than expected decline in exports.
By Kate Curtis from Trader's Way
USD
The US dollar chalked up small gains against its forex counterparts despite the lack of liquidity in yesterday's market. US traders were off on a Labor Day holiday and there were no reports from the US economy. For today, only low-tier reports such as the NFIB small business index and labor market conditions index are lined up, leaving the US dollar sensitive to risk flows.
EUR
The euro managed to edge slightly higher against the dollar in recent trading, taking advantage of the absence of US traders. Data from the euro zone was weaker than expected, with the German industrial production report printing a meager 0.7% gain versus the projected 1.2% increase and the Sentix investor confidence figure falling from 18.4 to 13.6. For today, only the German and French trade balance are lined up, along with the revised euro zone GDP reading.
GBP
The pound was able to bounce back in yesterday's trading sessions even though there were no major reports released from the UK. The UK economic schedule is still empty today, which suggests that the pound might take its cue from market sentiment or that traders might position themselves ahead of the BOE announcement later on.
CHF
The franc regained a bit of ground in recent trading sessions, as the Swiss foreign currency reserves report didn't indicate any signs of central bank intervention. The Swiss jobless rate is up for release today and it is expected to hold steady at 3.3%.
JPY
The yen was still able to advance yesterday as the return of Chinese investors spurred risk-off moves during the Asian trading session. Data from Japan was mostly stronger than expected, with the current account balance showing a larger surplus and the final GDP reading revised from -0.4% to -0.3%. There are no major reports due from the Japanese economy today.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were mostly stuck in consolidation in recent trading, as Canadian traders were also off on a holiday. Data from Australia and New Zealand showed promising results, as the ANZ job advertisements in Australia indicated a 1.0% gain while manufacturing sales picked up by 0.4% in New Zealand for Q2. Earlier today, Australia's NAB business confidence index for August printed a decline from 4 to 1 but the Chinese trade balance showed a stronger than expected headline reading and a smaller than expected decline in exports.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 9, 2015)
USD
The US dollar returned its recent gains when US traders came back from their Labor Day holiday, possibly reacting to the bleak NFP release last Friday. Data from the US showed small improvements, with the NFIB small business index improving from 95.4 to 95.9 and the labor market conditions index rising from 1.8 to 2.1. For today, only the JOLTS job openings report is up for release and a rise from 5.25M to 5.30M is eyed.
EUR
The euro edged slightly higher in recent trading, barely able to take advantage of dollar weakness because of the dovish ECB rhetoric. Data from the euro zone was mixed, as Germany reported a larger trade surplus while France printed a wider deficit. There are no reports lined up from the euro zone today.
GBP
The pound was able to bounce back to action in recent trading sessions, despite the lack of top-tier data from the UK yesterday. Today still has an empty economic calendar, which suggests that the British currency might take its cue from risk sentiment.
CHF
The franc scored small gains in recent trading, as the Swiss jobless rate simply came in line with expectations and held steady at 3.3%. There are no reports due from the Swiss economy today, which means that a bit of consolidation might be seen.
JPY
The yen gave up ground in yesterday's trading sessions when risk appetite appeared to improve in the markets. Data from Japan was mostly stronger than expected, with the GDP revised to show a smaller contraction for Q2 and the current account balance revealing a wider surplus. However, the Economy Watchers sentiment index dipped from 51.6 to 49.3, reflecting pessimism. Consumer confidence and preliminary machine tool orders data are due today.
Commodity Currencies (AUD, NZD, CAD)
The comdolls staged strong rebounds yesterday, as commodity prices and risk appetite picked up. Australia's NAB business confidence index slumped from 4 to 1 in August, reflecting a downturn in optimism, while China's trade balance indicated large declines in both imports and exports. Earlier today, Australia printed its Westpac consumer confidence index and showed a 5.6% drop. Later today, the BOC and RBNZ interest rate decisions are lined up, with the latter expected to cut rates and the former likely to stand pat.
By Kate Curtis from Trader's Way
USD
The US dollar returned its recent gains when US traders came back from their Labor Day holiday, possibly reacting to the bleak NFP release last Friday. Data from the US showed small improvements, with the NFIB small business index improving from 95.4 to 95.9 and the labor market conditions index rising from 1.8 to 2.1. For today, only the JOLTS job openings report is up for release and a rise from 5.25M to 5.30M is eyed.
EUR
The euro edged slightly higher in recent trading, barely able to take advantage of dollar weakness because of the dovish ECB rhetoric. Data from the euro zone was mixed, as Germany reported a larger trade surplus while France printed a wider deficit. There are no reports lined up from the euro zone today.
GBP
The pound was able to bounce back to action in recent trading sessions, despite the lack of top-tier data from the UK yesterday. Today still has an empty economic calendar, which suggests that the British currency might take its cue from risk sentiment.
CHF
The franc scored small gains in recent trading, as the Swiss jobless rate simply came in line with expectations and held steady at 3.3%. There are no reports due from the Swiss economy today, which means that a bit of consolidation might be seen.
JPY
The yen gave up ground in yesterday's trading sessions when risk appetite appeared to improve in the markets. Data from Japan was mostly stronger than expected, with the GDP revised to show a smaller contraction for Q2 and the current account balance revealing a wider surplus. However, the Economy Watchers sentiment index dipped from 51.6 to 49.3, reflecting pessimism. Consumer confidence and preliminary machine tool orders data are due today.
Commodity Currencies (AUD, NZD, CAD)
The comdolls staged strong rebounds yesterday, as commodity prices and risk appetite picked up. Australia's NAB business confidence index slumped from 4 to 1 in August, reflecting a downturn in optimism, while China's trade balance indicated large declines in both imports and exports. Earlier today, Australia printed its Westpac consumer confidence index and showed a 5.6% drop. Later today, the BOC and RBNZ interest rate decisions are lined up, with the latter expected to cut rates and the former likely to stand pat.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 10, 2015)
USD
The Greenback was in a weak spot in yesterday's trading sessions even though there were no major reports out of the US economy. Risk appetite appeared to improve, as higher-yielding currencies stayed supported. Initial jobless claims and import prices data are lined up for today, with the former likely to show a drop from 282K to 279K and the latter expected to indicate a 1.7% drop. Crude oil inventories are also due today.
EUR
The euro carried on with is recovery to the dollar, despite the lack of data from the euro zone. For today, French industrial production and non-farm payrolls data are due, but these reports aren't likely to spur huge moves.
GBP
The pound made a quick recovery yesterday as traders probably booked profits off their short positions ahead of today's event risks. The BOE is set to make its monetary policy statement and released the minutes of its meeting as well, revealing how many policymakers voted to keep rates and asset purchases unchanged. Recall that one MPC member voted to hike rates previously so it will be interesting to see if he would maintain this hawkish outlook given the recent financial slump in China and global equities.
CHF
The franc continued to move sideways but was able to score a few gains against the dollar yesterday. There have been no reports released from Switzerland then and none are due today, keeping risk sentiment in charge of price action.
JPY
The yen gave up ground to its forex rivals when PM Abe said that the government plans on raising the corporate tax next year while a BOJ policymaker suggested the possibility of further easing. Data from Japan was weaker than expected, with the core machinery orders report showing a 3.6% slump versus the projected 3.4% increase. PPI was also weaker than expected, indicating potentially lower inflationary pressures down the line.
Commodity Currencies (AUD, NZD, CAD)
The comdolls sold off in recent trading, most especially the Kiwi since the RBNZ cut interest rates from 3.00% to 2.75%. The BOC decided to keep rates on hold at 0.5% but acknowledged the potential risks from China and falling commodity prices. Australia's jobs report showed a larger than expected 17.4K gain in hiring, enough to bring the jobless rate from 6.3% to 6.2%. China reported a stronger than expected 2.0% CPI reading but its PPI marked a 5.9% slump versus the estimated 5.6% drop.
By Kate Curtis from Trader's Way
USD
The Greenback was in a weak spot in yesterday's trading sessions even though there were no major reports out of the US economy. Risk appetite appeared to improve, as higher-yielding currencies stayed supported. Initial jobless claims and import prices data are lined up for today, with the former likely to show a drop from 282K to 279K and the latter expected to indicate a 1.7% drop. Crude oil inventories are also due today.
EUR
The euro carried on with is recovery to the dollar, despite the lack of data from the euro zone. For today, French industrial production and non-farm payrolls data are due, but these reports aren't likely to spur huge moves.
GBP
The pound made a quick recovery yesterday as traders probably booked profits off their short positions ahead of today's event risks. The BOE is set to make its monetary policy statement and released the minutes of its meeting as well, revealing how many policymakers voted to keep rates and asset purchases unchanged. Recall that one MPC member voted to hike rates previously so it will be interesting to see if he would maintain this hawkish outlook given the recent financial slump in China and global equities.
CHF
The franc continued to move sideways but was able to score a few gains against the dollar yesterday. There have been no reports released from Switzerland then and none are due today, keeping risk sentiment in charge of price action.
JPY
The yen gave up ground to its forex rivals when PM Abe said that the government plans on raising the corporate tax next year while a BOJ policymaker suggested the possibility of further easing. Data from Japan was weaker than expected, with the core machinery orders report showing a 3.6% slump versus the projected 3.4% increase. PPI was also weaker than expected, indicating potentially lower inflationary pressures down the line.
Commodity Currencies (AUD, NZD, CAD)
The comdolls sold off in recent trading, most especially the Kiwi since the RBNZ cut interest rates from 3.00% to 2.75%. The BOC decided to keep rates on hold at 0.5% but acknowledged the potential risks from China and falling commodity prices. Australia's jobs report showed a larger than expected 17.4K gain in hiring, enough to bring the jobless rate from 6.3% to 6.2%. China reported a stronger than expected 2.0% CPI reading but its PPI marked a 5.9% slump versus the estimated 5.6% drop.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 11, 2015)
USD
The US dollar gave up further ground in recent trading sessions, as risk appetite continued to improve. Data from the US came in mostly in line with expectations, with the initial jobless claims report showing a drop from 281K to 275K in unemployment claimants. Import prices were down 1.8%, slightly worse than the projected 1.7% decline and the previous 0.9% drop. For today, PPI readings and the preliminary UoM consumer sentiment index is due. Producer prices could show a 0.1% decline while consumer confidence might see a dip from 91.9 to 91.4.
EUR
The euro extended its gains versus the dollar and the yen, despite mixed medium-tier data from the euro zone. French non-farm payrolls ticked up by 0.2% while industrial production slumped by 0.8% instead of picking up by 0.3%. A few more more medium-tier reports are lined up today, although risk sentiment might be responsible for pushing euro pairs around.
GBP
The pound scored some gains after the BOE interest rate statement even though the central bank opted to keep rates and asset purchases unchanged as expected. Minutes of their meeting revealed that policymakers aren't very worried about the downturn in China and it's potential impact on the British economy, as the UK fundamentals are relatively strong. Only one member voted to hike rates, citing that the projected pickup in inflation is enough reason to warrant tightening. Only the construction output, consumer inflation expectations, and a speech by MPC member Forbes are lined up from the UK today.
CHF
The franc was also able to advance against the dollar, despite the lack of data from Switzerland. There are still no reports due from the Swiss economy today, which suggests that the currency could take its cue from euro action or overall market sentiment.
JPY
The yen continued to lose traction in recent trading sessions, spurred by the pickup in risk appetite and the dovish outlook from the BOJ. Data from Japan was weaker than expected, with producer prices and core machinery orders both falling by 3.6%. Earlier today, Japan's BSI manufacturing index showed an improvement from -6.0 to +11.0, reflecting a return to optimism for the current quarter.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were able to limit their losses, despite the recent RBNZ rate cut. Crude oil inventories came in at 2.6 million barrels for the US, causing a bit of a decline for prices due to rising stockpiles. Earlier today, New Zealand showed a climb in its Business NZ manufacturing index from 53.7 to 55.0, showing a pickup in expansion. No other reports are due from the comdoll economies today.
By Kate Curtis from Trader's Way
USD
The US dollar gave up further ground in recent trading sessions, as risk appetite continued to improve. Data from the US came in mostly in line with expectations, with the initial jobless claims report showing a drop from 281K to 275K in unemployment claimants. Import prices were down 1.8%, slightly worse than the projected 1.7% decline and the previous 0.9% drop. For today, PPI readings and the preliminary UoM consumer sentiment index is due. Producer prices could show a 0.1% decline while consumer confidence might see a dip from 91.9 to 91.4.
EUR
The euro extended its gains versus the dollar and the yen, despite mixed medium-tier data from the euro zone. French non-farm payrolls ticked up by 0.2% while industrial production slumped by 0.8% instead of picking up by 0.3%. A few more more medium-tier reports are lined up today, although risk sentiment might be responsible for pushing euro pairs around.
GBP
The pound scored some gains after the BOE interest rate statement even though the central bank opted to keep rates and asset purchases unchanged as expected. Minutes of their meeting revealed that policymakers aren't very worried about the downturn in China and it's potential impact on the British economy, as the UK fundamentals are relatively strong. Only one member voted to hike rates, citing that the projected pickup in inflation is enough reason to warrant tightening. Only the construction output, consumer inflation expectations, and a speech by MPC member Forbes are lined up from the UK today.
CHF
The franc was also able to advance against the dollar, despite the lack of data from Switzerland. There are still no reports due from the Swiss economy today, which suggests that the currency could take its cue from euro action or overall market sentiment.
JPY
The yen continued to lose traction in recent trading sessions, spurred by the pickup in risk appetite and the dovish outlook from the BOJ. Data from Japan was weaker than expected, with producer prices and core machinery orders both falling by 3.6%. Earlier today, Japan's BSI manufacturing index showed an improvement from -6.0 to +11.0, reflecting a return to optimism for the current quarter.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were able to limit their losses, despite the recent RBNZ rate cut. Crude oil inventories came in at 2.6 million barrels for the US, causing a bit of a decline for prices due to rising stockpiles. Earlier today, New Zealand showed a climb in its Business NZ manufacturing index from 53.7 to 55.0, showing a pickup in expansion. No other reports are due from the comdoll economies today.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 14, 2015)
USD
The US dollar lost ground on Friday as risk appetite stayed strong until the end of the week. Data from the US economy was mostly stronger than expected, with the headline PPI showing a flat reading instead of the projected 0.1% dip and the core PPI printing a 0.3% gain versus expectations of a 0.1% uptick. However, the preliminary UoM consumer sentiment reading turned out to be a disappointment as the index fell from 91.9 to 85.7, reflecting weaker optimism. There are no reports due from the US today.
EUR
The euro managed to recover against most of its forex rivals, despite the lack of top-tier data from the euro zone. Only the region's industrial production reading is up for release today and a 0.3% rebound is set to follow the previous 0.4% decline. Stronger than expected data could continue to keep the shared currency afloat.
GBP
The pound enjoyed a few gains on Friday but was mostly stuck in consolidation ahead of this week's top-tier events. There are no reports due from the UK today, allowing traders to price in expectations ahead of tomorrow's CPI release, Wednesday's jobs report, and Thursday's retail sales release.
CHF
The franc regained a lot of ground to the dollar last week even though there were no reports released from Switzerland on Friday. Swiss PPI and retail sales figures are lined up today, with the former expected to show a 0.4% decline in prices and the latter likely to show a 1.5% annualized rebound from the earlier 0.9% drop.
JPY
The yen continued to lose ground during the pickup in risk appetite, spurred also by expectations of further easing from the BOJ. There have been no reports released from Japan then but the currency was still reeling from comments of BOJ official Shirai who mentioned that the central bank should keep an accommodative stance. Earlier today, Japan reported a 0.8% decline in industrial production and a 0.2% uptick in tertiary industry activity.
Commodity Currencies (AUD, NZD, CAD)
The comdolls managed to get back on their feet on Friday, as there were no reports that spurred risk aversion. Over the weekend, China reported a 6.1% gain in industrial production versus expectations of a 6.3% increase. Retail sales was slightly stronger than expected at 10.8% versus the estimated 10.6% rise. Meanwhile, fixed asset investment was weaker than expected at 10.9% instead of the estimated 11.2% increase.
By Kate Curtis from Trader's Way
USD
The US dollar lost ground on Friday as risk appetite stayed strong until the end of the week. Data from the US economy was mostly stronger than expected, with the headline PPI showing a flat reading instead of the projected 0.1% dip and the core PPI printing a 0.3% gain versus expectations of a 0.1% uptick. However, the preliminary UoM consumer sentiment reading turned out to be a disappointment as the index fell from 91.9 to 85.7, reflecting weaker optimism. There are no reports due from the US today.
EUR
The euro managed to recover against most of its forex rivals, despite the lack of top-tier data from the euro zone. Only the region's industrial production reading is up for release today and a 0.3% rebound is set to follow the previous 0.4% decline. Stronger than expected data could continue to keep the shared currency afloat.
GBP
The pound enjoyed a few gains on Friday but was mostly stuck in consolidation ahead of this week's top-tier events. There are no reports due from the UK today, allowing traders to price in expectations ahead of tomorrow's CPI release, Wednesday's jobs report, and Thursday's retail sales release.
CHF
The franc regained a lot of ground to the dollar last week even though there were no reports released from Switzerland on Friday. Swiss PPI and retail sales figures are lined up today, with the former expected to show a 0.4% decline in prices and the latter likely to show a 1.5% annualized rebound from the earlier 0.9% drop.
JPY
The yen continued to lose ground during the pickup in risk appetite, spurred also by expectations of further easing from the BOJ. There have been no reports released from Japan then but the currency was still reeling from comments of BOJ official Shirai who mentioned that the central bank should keep an accommodative stance. Earlier today, Japan reported a 0.8% decline in industrial production and a 0.2% uptick in tertiary industry activity.
Commodity Currencies (AUD, NZD, CAD)
The comdolls managed to get back on their feet on Friday, as there were no reports that spurred risk aversion. Over the weekend, China reported a 6.1% gain in industrial production versus expectations of a 6.3% increase. Retail sales was slightly stronger than expected at 10.8% versus the estimated 10.6% rise. Meanwhile, fixed asset investment was weaker than expected at 10.9% instead of the estimated 11.2% increase.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 15, 2015)
USD
Dollar pairs had a mixed performance as traders hesitated to commit to any positions ahead of the FOMC statement later this week
There have been no reports released from the US yesterday, allowing the dollar to function mostly as a counter currency instead. For today, the US retail sales report is up for release and it is expected to show a 0.3% gain for the headline figure and a 0.2% increase for the core figure.
EUR
The euro was treading carefully in recent trading sessions, getting a bit of support from stronger than expected euro zone industrial production data. The report showed a 0.6% uptick for July, stronger than the projected 0.3% increase, while the previous reading enjoyed an upgrade. For today, the German ZEW economic sentiment index is up for release and it could show a dip from 25.0 to 18.3. The euro zone ZEW index is also due, along with the region's employment change reading for Q2.
GBP
The pound was stuck in consolidation against most of its forex rivals, as traders are waiting for the top-tier UK reports to be released. The UK CPI is due today and it could show a drop from 0.1% to 0.0% for August while the core version of the report could fall from 1.2% to 1.0%. Producer input prices could show a 2.3% drop while output prices could show a 0.2% decline, putting downward pressure on consumer inflation later on.
CHF
The franc managed to advance against the dollar despite weak data from the Swiss economy. PPI showed a 0.7% decline, worse than the projected 0.4% drop, while retail sales slumped by 0.1% instead of picking up by 1.5%. No reports are due from the Swiss economy today, leaving traders to price in expectations ahead of the SNB decision later on.
JPY
The yen was still losing ground against its peers before the BOJ statement, which wound up providing some support for the Japanese currency. Board member Kiuchi once again voted to taper asset purchases and to adopt a more flexible inflation-targeting scheme, but he was outvoted by other policymakers who wanted to keep policy unchanged. The press conference is scheduled for later today.
Commodity Currencies (AUD, NZD, CAD)
The comdolls gave up some ground in today's Asian trading session, as the RBA minutes sounded a bit dovish. Although the central bank decided to keep rates on hold in their official statement, the transcript of the meeting revealed that most policymakers were worried about China and commodity prices. New Zealand's dairy auction and current account balance release are coming up.
By Kate Curtis from Trader's Way
USD
Dollar pairs had a mixed performance as traders hesitated to commit to any positions ahead of the FOMC statement later this week
There have been no reports released from the US yesterday, allowing the dollar to function mostly as a counter currency instead. For today, the US retail sales report is up for release and it is expected to show a 0.3% gain for the headline figure and a 0.2% increase for the core figure.
EUR
The euro was treading carefully in recent trading sessions, getting a bit of support from stronger than expected euro zone industrial production data. The report showed a 0.6% uptick for July, stronger than the projected 0.3% increase, while the previous reading enjoyed an upgrade. For today, the German ZEW economic sentiment index is up for release and it could show a dip from 25.0 to 18.3. The euro zone ZEW index is also due, along with the region's employment change reading for Q2.
GBP
The pound was stuck in consolidation against most of its forex rivals, as traders are waiting for the top-tier UK reports to be released. The UK CPI is due today and it could show a drop from 0.1% to 0.0% for August while the core version of the report could fall from 1.2% to 1.0%. Producer input prices could show a 2.3% drop while output prices could show a 0.2% decline, putting downward pressure on consumer inflation later on.
CHF
The franc managed to advance against the dollar despite weak data from the Swiss economy. PPI showed a 0.7% decline, worse than the projected 0.4% drop, while retail sales slumped by 0.1% instead of picking up by 1.5%. No reports are due from the Swiss economy today, leaving traders to price in expectations ahead of the SNB decision later on.
JPY
The yen was still losing ground against its peers before the BOJ statement, which wound up providing some support for the Japanese currency. Board member Kiuchi once again voted to taper asset purchases and to adopt a more flexible inflation-targeting scheme, but he was outvoted by other policymakers who wanted to keep policy unchanged. The press conference is scheduled for later today.
Commodity Currencies (AUD, NZD, CAD)
The comdolls gave up some ground in today's Asian trading session, as the RBA minutes sounded a bit dovish. Although the central bank decided to keep rates on hold in their official statement, the transcript of the meeting revealed that most policymakers were worried about China and commodity prices. New Zealand's dairy auction and current account balance release are coming up.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 16, 2015)
USD
The US dollar gave up ground to some of its rivals because of weaker than expected retail sales figures.
Headline retail sales increased by only 0.2% instead of the estimated 0.3% rise while the core version of the report printed a meager 0.1% uptick versus the projected 0.2% gain. CPI readings are lined up for today, with the headline figure slated to show a flat reading and the core figure likely to print a 0.1% increase. Another round of weak figures could spur more losses for the dollar while strong data could set off a rebound.
EUR
The euro struggled to stay afloat after data from the euro zone came up short of expectations. The German ZEW economic sentiment index slipped from 25.0 to 12.1, worse than the projected drop to 18.5. The region's ZEW index tumbled from 47.6 to 33.3, lower than the projected 42.1 figure. Final CPI readings are due from the euro zone today and no changes to the initially estimated 0.2% headline figure and 1.0% core figure are expected.
GBP
The pound gave up ground when UK inflation reports reflected a slight downturn in price levels as expected. The headline CPI fell from 0.1% to 0.0% in August while the core CPI dipped from 1.2% to 1.0%, taking the recent declines in commodity prices into account. Jobs data is due from the UK today and the economy probably added 5.1K positions for August, enough to keep the jobless rate unchanged at 5.6%.
CHF
The franc resumed its selloff to the dollar, following weaker than expected reports from the euro zone. There have been no figures out of Switzerland yesterday, although the economy printed dismal PPI and retail sales reports the other day. For today, the Swiss ZEW economic expectations index is up for release and a drop from the earlier 5.9 reading could spur more franc losses.
JPY
The yen regained some ground after the BOJ statement, which reflected no change in monetary policy as expected. Japanese policymakers downgraded forecasts for exports and output, accounting for the downturn in demand from its trade partners. One board member voted to taper asset purchases and adopt a more flexible inflation-targeting scheme but he was outvoted by majority of the policymakers.
Commodity Currencies (AUD, NZD, CAD)
Comdolls were able to stay afloat and advance against the US dollar in recent trading. Data from New Zealand was better than expected, with the dairy auction yielding a 16.5% gain in prices and the current account balance showing a slightly smaller deficit than expected. Canadian manufacturing sales and foreign securities purchases data are lined up for today then New Zealand has its Q2 GDP on tap for the next Asian trading session.
By Kate Curtis from Trader's Way
USD
The US dollar gave up ground to some of its rivals because of weaker than expected retail sales figures.
Headline retail sales increased by only 0.2% instead of the estimated 0.3% rise while the core version of the report printed a meager 0.1% uptick versus the projected 0.2% gain. CPI readings are lined up for today, with the headline figure slated to show a flat reading and the core figure likely to print a 0.1% increase. Another round of weak figures could spur more losses for the dollar while strong data could set off a rebound.
EUR
The euro struggled to stay afloat after data from the euro zone came up short of expectations. The German ZEW economic sentiment index slipped from 25.0 to 12.1, worse than the projected drop to 18.5. The region's ZEW index tumbled from 47.6 to 33.3, lower than the projected 42.1 figure. Final CPI readings are due from the euro zone today and no changes to the initially estimated 0.2% headline figure and 1.0% core figure are expected.
GBP
The pound gave up ground when UK inflation reports reflected a slight downturn in price levels as expected. The headline CPI fell from 0.1% to 0.0% in August while the core CPI dipped from 1.2% to 1.0%, taking the recent declines in commodity prices into account. Jobs data is due from the UK today and the economy probably added 5.1K positions for August, enough to keep the jobless rate unchanged at 5.6%.
CHF
The franc resumed its selloff to the dollar, following weaker than expected reports from the euro zone. There have been no figures out of Switzerland yesterday, although the economy printed dismal PPI and retail sales reports the other day. For today, the Swiss ZEW economic expectations index is up for release and a drop from the earlier 5.9 reading could spur more franc losses.
JPY
The yen regained some ground after the BOJ statement, which reflected no change in monetary policy as expected. Japanese policymakers downgraded forecasts for exports and output, accounting for the downturn in demand from its trade partners. One board member voted to taper asset purchases and adopt a more flexible inflation-targeting scheme but he was outvoted by majority of the policymakers.
Commodity Currencies (AUD, NZD, CAD)
Comdolls were able to stay afloat and advance against the US dollar in recent trading. Data from New Zealand was better than expected, with the dairy auction yielding a 16.5% gain in prices and the current account balance showing a slightly smaller deficit than expected. Canadian manufacturing sales and foreign securities purchases data are lined up for today then New Zealand has its Q2 GDP on tap for the next Asian trading session.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (Sept 17, 2015)
USD
The US dollar tossed and turned during the recent NY trading session, as traders treated the Greenback as a counter currency for their trades instead of picking a clear direction.
Traders are also probably reducing their dollar holdings ahead of today's FOMC statement. The Fed is widely expected to keep interest rates unchanged, possibly citing the slowdown in China and the tumble in commodities as enough reason to stand pat. Also lined up are the Fed's revised economic projections, which might provide better clues on when the liftoff might take place.
EUR
The euro resumed its slide after the region reported downgrades in its CPI readings for August. The headline CPI was revised from 0.2% to 0.1% while the core CPI was downgraded from 1.0% to 0.9%. There are no major reports due from the euro zone today, but the overall mood seems bearish since the inflation reports reminded traders that the ECB is open to further easing if necessary.
GBP
The pound had a volatile reaction to the UK jobs data but managed to stay in the lead at the end of the day. The economy lost 1.2K jobs in August versus expectations of a 5.1K increase but the unemployment rate still improved from 5.6% to 5.5%. In addition, wage growth picked up from 2.3% to 2.9% in the three months ending in July, hinting at stronger consumer spending down the line. For today, the August UK retail sales report is due and a 0.2% uptick is eyed.
CHF
The franc erased some of its recent wins despite the improvement in the Swiss ZEW economic expectations index from 5.9 to 9.7. Traders probably reduced their franc holdings ahead of today's SNB statement, as this central bank is known for jawboning their currency or even intervening in the forex market. Keep in mind that the SNB might be a little more dovish this time since the ECB has already expressed its willingness to ease again.
JPY
The yen lost ground to most of its forex rivals even though Japan didn't release any reports yesterday. Risk appetite seemed to improve during the Asian trading session, but it remains to be seen whether the yen pairs' gains can be sustained during the FOMC statement. USDJPY moves often spill over to other yen pairs during this event, as any reduction of dollar holdings could mean more demand for other low-yielding currencies like the yen.
Commodity Currencies (AUD, NZD, CAD)
The comdolls managed to score some gains due to the reduction in oil inventories and the pickup in prices. New Zealand printed a weaker than expected GDP of 0.4% for Q2, but this was still better than the previous 0.2% expansion. There are no major reports due from these comdoll economies today, leaving commodity currencies to take their cue from oil and gold prices during the FOMC decision
By Kate Curtis from Trader's Way
USD
The US dollar tossed and turned during the recent NY trading session, as traders treated the Greenback as a counter currency for their trades instead of picking a clear direction.
Traders are also probably reducing their dollar holdings ahead of today's FOMC statement. The Fed is widely expected to keep interest rates unchanged, possibly citing the slowdown in China and the tumble in commodities as enough reason to stand pat. Also lined up are the Fed's revised economic projections, which might provide better clues on when the liftoff might take place.
EUR
The euro resumed its slide after the region reported downgrades in its CPI readings for August. The headline CPI was revised from 0.2% to 0.1% while the core CPI was downgraded from 1.0% to 0.9%. There are no major reports due from the euro zone today, but the overall mood seems bearish since the inflation reports reminded traders that the ECB is open to further easing if necessary.
GBP
The pound had a volatile reaction to the UK jobs data but managed to stay in the lead at the end of the day. The economy lost 1.2K jobs in August versus expectations of a 5.1K increase but the unemployment rate still improved from 5.6% to 5.5%. In addition, wage growth picked up from 2.3% to 2.9% in the three months ending in July, hinting at stronger consumer spending down the line. For today, the August UK retail sales report is due and a 0.2% uptick is eyed.
CHF
The franc erased some of its recent wins despite the improvement in the Swiss ZEW economic expectations index from 5.9 to 9.7. Traders probably reduced their franc holdings ahead of today's SNB statement, as this central bank is known for jawboning their currency or even intervening in the forex market. Keep in mind that the SNB might be a little more dovish this time since the ECB has already expressed its willingness to ease again.
JPY
The yen lost ground to most of its forex rivals even though Japan didn't release any reports yesterday. Risk appetite seemed to improve during the Asian trading session, but it remains to be seen whether the yen pairs' gains can be sustained during the FOMC statement. USDJPY moves often spill over to other yen pairs during this event, as any reduction of dollar holdings could mean more demand for other low-yielding currencies like the yen.
Commodity Currencies (AUD, NZD, CAD)
The comdolls managed to score some gains due to the reduction in oil inventories and the pickup in prices. New Zealand printed a weaker than expected GDP of 0.4% for Q2, but this was still better than the previous 0.2% expansion. There are no major reports due from these comdoll economies today, leaving commodity currencies to take their cue from oil and gold prices during the FOMC decision
By Kate Curtis from Trader's Way
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