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Thanks for your outlooks!
Daily Market Outlook by Kate Curtis from Trader's Way
- Thread starter katetrades
- Start date
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (July 16, 2015)
USD
The US dollar regained ground against its forex rivals when risk aversion returned to the markets. Fed Chairperson Yellen’s positive remarks on the US economy was also reassuring for dollar bulls, reminding market watchers that a rate hike is still possible for this year. Another speech from Yellen is on today’s docket, along with the release of the Philly Fed index.
EUR
The euro wasn’t able to draw much support from the Greek parliament’s approval of the bailout proposal, as traders were probably more focused on the difficulties of enacting these reforms. Some worry that the harsh austerity measures would push Greece deeper in recession and put the country back in a potential default sooner or later. Euro zone final CPI readings are due today but the bigger market-mover might be the ECB interest rate statement, during which Draghi might remark on the emergency lending fund to Greece.
GBP
The pound managed to trim its losses in recent trading sessions, as the currency was supported by a hawkish BOE outlook. Jobs figures came in weaker than expected, with the economy losing 7K jobs in June and the jobless rate climbing back up to 5.6%. Average weekly earnings was a tad weaker than expected at 3.2% versus the estimated 3.3% figure but still indicated a jump from the previous 2.7% reading. There are no major reports due from the UK today.
CHF
The franc was also in a weak spot in recent trading, although there were no reports weighing on the currency. Today has the retail sales report on tap and a climb from 1.6% to 1.9% is eyed for June. Also lined up is the foreign securities purchases report, which should provide traders an idea of whether or not the SNB is still intervening.
JPY
The yen took advantage of the run in risk aversion to advance against most of its rivals, except for the US dollar. The BOJ didn’t make any changes to their monetary policy as expected and their monthly report didn’t contain any adjustments to their outlook. Risk sentiment could continue to drive yen pairs around today.
Commodity Currencies (AUD, NZD, CAD)
The BOC decided to cut interest rates in their latest policy statement, citing the slowdown in China and the U.S., as well as lower business investment in oil industries. The Kiwi was also under heavy selling pressure after the global dairy auction churned out a 10.7% drop in prices and the country reported a 0.4% quarterly inflation reading, lower than the projected 0.5% rise. Analysts are downgrading their milk payout forecasts for Fonterra and predicting a rate cut from the RBNZ next week. In Australia, the MI inflation expectations index climbed from 3.0% to 3.4%.
By Kate Curtis from Trader's Way
USD
The US dollar regained ground against its forex rivals when risk aversion returned to the markets. Fed Chairperson Yellen’s positive remarks on the US economy was also reassuring for dollar bulls, reminding market watchers that a rate hike is still possible for this year. Another speech from Yellen is on today’s docket, along with the release of the Philly Fed index.
EUR
The euro wasn’t able to draw much support from the Greek parliament’s approval of the bailout proposal, as traders were probably more focused on the difficulties of enacting these reforms. Some worry that the harsh austerity measures would push Greece deeper in recession and put the country back in a potential default sooner or later. Euro zone final CPI readings are due today but the bigger market-mover might be the ECB interest rate statement, during which Draghi might remark on the emergency lending fund to Greece.
GBP
The pound managed to trim its losses in recent trading sessions, as the currency was supported by a hawkish BOE outlook. Jobs figures came in weaker than expected, with the economy losing 7K jobs in June and the jobless rate climbing back up to 5.6%. Average weekly earnings was a tad weaker than expected at 3.2% versus the estimated 3.3% figure but still indicated a jump from the previous 2.7% reading. There are no major reports due from the UK today.
CHF
The franc was also in a weak spot in recent trading, although there were no reports weighing on the currency. Today has the retail sales report on tap and a climb from 1.6% to 1.9% is eyed for June. Also lined up is the foreign securities purchases report, which should provide traders an idea of whether or not the SNB is still intervening.
JPY
The yen took advantage of the run in risk aversion to advance against most of its rivals, except for the US dollar. The BOJ didn’t make any changes to their monetary policy as expected and their monthly report didn’t contain any adjustments to their outlook. Risk sentiment could continue to drive yen pairs around today.
Commodity Currencies (AUD, NZD, CAD)
The BOC decided to cut interest rates in their latest policy statement, citing the slowdown in China and the U.S., as well as lower business investment in oil industries. The Kiwi was also under heavy selling pressure after the global dairy auction churned out a 10.7% drop in prices and the country reported a 0.4% quarterly inflation reading, lower than the projected 0.5% rise. Analysts are downgrading their milk payout forecasts for Fonterra and predicting a rate cut from the RBNZ next week. In Australia, the MI inflation expectations index climbed from 3.0% to 3.4%.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (July 17, 2015)
USD
The dollar had a mixed performance, as some traders already booked profits off their long USD positions. Data from the US economy came in mixed, with the initial jobless claims coming in line with expectations and the Philly Fed index falling short of consensus. The reading fell from 15.2 to 5.7, worse than the projected drop to 11.9. For today, US CPI figures are due and the headline figure could show a 0.3% increase while the core figure could print a 0.2% gain.
EUR
The euro resumed its slide to its forex rivals, despite the approval of Greece’s reform package from the parliament. There are still a few hurdles for the country to clear before securing the next set of bailout funds so the next days could still be mired in uncertainty. Data from the euro zone came in line with expectations, as the final CPI readings did not undergo revisions. There are no reports due from the euro zone today.
GBP
The pound managed to advance against most of its forex counterparts after BOE Governor Carney reiterated their hawkish bias. In the BOE Inflation Report earlier in the week, he mentioned that the point at which they will hike rates is moving closer. The UK CB leading index showed a 0.4% decline and a downward revision in their previous release. There are no reports due from the UK today.
CHF
The franc gave up ground in recent trading sessions since the Swiss retail sales report turned out to be a huge disappointment. The figure showed a 1.8% annualized decline, much worse than the projected 1.9% increase and the previous 1.6% gain. There are no reports due from the economy today.
JPY
The yen gave up some of its recent wins from the risk-off market environment, as sentiment appeared to improve in the latter trading sessions. There have been no reports released from Japan then and none are due today, suggesting that risk flows could continue to push yen pairs around.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were still on weak ground yesterday, as the BOC rate cut and speculations of an RBNZ rate cut for next week weighed on the Loonie and Kiwi. The Aussie enjoyed a bit more support, thanks to improved MI inflation expectations and a pickup in the CB leading index. Canadian CPI data are due today and the headline figure could show a 0.2% uptick while the core figure could print a 0.1% dip.
By Kate Curtis from Trader's Way
USD
The dollar had a mixed performance, as some traders already booked profits off their long USD positions. Data from the US economy came in mixed, with the initial jobless claims coming in line with expectations and the Philly Fed index falling short of consensus. The reading fell from 15.2 to 5.7, worse than the projected drop to 11.9. For today, US CPI figures are due and the headline figure could show a 0.3% increase while the core figure could print a 0.2% gain.
EUR
The euro resumed its slide to its forex rivals, despite the approval of Greece’s reform package from the parliament. There are still a few hurdles for the country to clear before securing the next set of bailout funds so the next days could still be mired in uncertainty. Data from the euro zone came in line with expectations, as the final CPI readings did not undergo revisions. There are no reports due from the euro zone today.
GBP
The pound managed to advance against most of its forex counterparts after BOE Governor Carney reiterated their hawkish bias. In the BOE Inflation Report earlier in the week, he mentioned that the point at which they will hike rates is moving closer. The UK CB leading index showed a 0.4% decline and a downward revision in their previous release. There are no reports due from the UK today.
CHF
The franc gave up ground in recent trading sessions since the Swiss retail sales report turned out to be a huge disappointment. The figure showed a 1.8% annualized decline, much worse than the projected 1.9% increase and the previous 1.6% gain. There are no reports due from the economy today.
JPY
The yen gave up some of its recent wins from the risk-off market environment, as sentiment appeared to improve in the latter trading sessions. There have been no reports released from Japan then and none are due today, suggesting that risk flows could continue to push yen pairs around.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were still on weak ground yesterday, as the BOC rate cut and speculations of an RBNZ rate cut for next week weighed on the Loonie and Kiwi. The Aussie enjoyed a bit more support, thanks to improved MI inflation expectations and a pickup in the CB leading index. Canadian CPI data are due today and the headline figure could show a 0.2% uptick while the core figure could print a 0.1% dip.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (July 20, 2015)
USD
The US dollar ended the previous week on a strong note, thanks to upbeat data from the economy. Headline CPI came in line with expectations of a 0.3% gain while the core version of the report met the consensus of a 0.2% uptick. Building permits and housing starts both came in stronger than expected but the UoM consumer sentiment figure fell short at 93.3 versus the projected 96.0 figure. There are no reports due from the US economy today, leaving risk sentiment at the helm.
EUR
The euro continued to slide against most of its forex rivals even though the German parliament gave the green light for the Greek bailout program. Increased austerity could keep the country in the euro zone for the time being but this might not be enough to eliminate its debt troubles. There were no reports from the euro zone then while today has only the German PPI and euro zone current account balance on tap.
GBP
The pound had a mixed performance on Friday, although it was mostly supported against its forex rivals due to the BOE’s relatively upbeat stance. Recall that Carney said that the point at which rates begin to increase is moving closer. There have been no reports from the UK on Friday and today only had the Rightmove HPI, which showed a mere 0.1% uptick compared to the previous 3.0% gain.
CHF
The franc was also in a weak spot, as traders weren’t too keen to buy up the Swiss currency for fear of central bank intervention. There have been no reports from Switzerland on Friday and none are due today, leaving euro zone events and risk sentiment as the main drivers of price action.
JPY
The yen was able to take advantage of the risk-off environment and the commodities selloff earlier today, even though banks are closed in observance of Marine Day. There are no reports due from Japan, which means that yen pairs might continue to react to commodity prices and overall sentiment.
Commodity Currencies (AUD, NZD, CAD)
The comdolls suffered a sharp selloff earlier today, as China’s gold reserves data indicated a smaller than expected share of the precious metal. This led to a sharp selloff for the commodity currencies, although the Kiwi managed to draw support from NZ Prime Minister John Key’s optimistic remarks on the economy. Last Friday, Canada printed a flat core CPI reading and a 0.2% increase in its headline CPI. Canadian wholesales sales data is due later today.
By Kate Curtis from Trader's Way
USD
The US dollar ended the previous week on a strong note, thanks to upbeat data from the economy. Headline CPI came in line with expectations of a 0.3% gain while the core version of the report met the consensus of a 0.2% uptick. Building permits and housing starts both came in stronger than expected but the UoM consumer sentiment figure fell short at 93.3 versus the projected 96.0 figure. There are no reports due from the US economy today, leaving risk sentiment at the helm.
EUR
The euro continued to slide against most of its forex rivals even though the German parliament gave the green light for the Greek bailout program. Increased austerity could keep the country in the euro zone for the time being but this might not be enough to eliminate its debt troubles. There were no reports from the euro zone then while today has only the German PPI and euro zone current account balance on tap.
GBP
The pound had a mixed performance on Friday, although it was mostly supported against its forex rivals due to the BOE’s relatively upbeat stance. Recall that Carney said that the point at which rates begin to increase is moving closer. There have been no reports from the UK on Friday and today only had the Rightmove HPI, which showed a mere 0.1% uptick compared to the previous 3.0% gain.
CHF
The franc was also in a weak spot, as traders weren’t too keen to buy up the Swiss currency for fear of central bank intervention. There have been no reports from Switzerland on Friday and none are due today, leaving euro zone events and risk sentiment as the main drivers of price action.
JPY
The yen was able to take advantage of the risk-off environment and the commodities selloff earlier today, even though banks are closed in observance of Marine Day. There are no reports due from Japan, which means that yen pairs might continue to react to commodity prices and overall sentiment.
Commodity Currencies (AUD, NZD, CAD)
The comdolls suffered a sharp selloff earlier today, as China’s gold reserves data indicated a smaller than expected share of the precious metal. This led to a sharp selloff for the commodity currencies, although the Kiwi managed to draw support from NZ Prime Minister John Key’s optimistic remarks on the economy. Last Friday, Canada printed a flat core CPI reading and a 0.2% increase in its headline CPI. Canadian wholesales sales data is due later today.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (July 21, 2015)
USD
The US dollar had a mixed performance as it gave up some ground to the commodity currencies but advanced against the yen and franc. There have been no major reports released from the US at the start of the trading week and there are still no reports lined up today. Because of that, risk sentiment could push dollar pairs around, with the odds slightly in favor of the safe-haven dollar.
EUR
The euro continued to edge lower against most of its rivals, as traders didn’t seem to be too impressed by the latest developments in Greece. In addition, data from the euro zone came in weaker than expected, as Germany reported a 0.1% fall in producer prices versus the projected flat reading. Meanwhile, the euro zone current account balance showed a smaller than expected surplus of 18 billion EUR for May. There are no reports lined up from the region today.
GBP
The pound held on to its recent gains despite the lack of data from the UK yesterday. Today has the public sector net borrowing data on tap and this is expected to show a smaller deficit of 8.6 billion GBP compared to the previous 9.4 billion GBP figure, which would reflect a better financial picture for the economy.
CHF
The franc followed in the euro’s footsteps and sold off against most of its rivals since there were no reports to keep the currency afloat yesterday. Today has the Swiss trade balance on tap and it is expected to show a smaller surplus of 2.54 billion CHF compared to the previous 3.41 billion CHF figure.
JPY
The yen reacted mostly to its counter currencies, as Japanese banks were closed on a holiday yesterday. Today had the BOJ minutes on tap and the report showed that central bank officials are feeling upbeat about the increase in exports and the improvements in business activity. Risk flows could push yen pairs around for the rest of the day.
Commodity Currencies (AUD, NZD, CAD)
The comdolls had a bit of a recovery early on, as traders probably booked profits off their short positions ahead of this week’s key events. The RBA minutes indicated that further AUD declines are both likely and necessary since commodity prices are falling and trade volumes are also weak. In Canada, the wholesale sales report churned out a weaker than expected 1.0% decline versus the estimated 0.1% uptick, setting the stage for a disappointing retail sales report later on. New Zealand credit card spending showed a 6.5% gain, weaker compared to the previous 7.2% increase.
By Kate Curtis from Trader's Way
USD
The US dollar had a mixed performance as it gave up some ground to the commodity currencies but advanced against the yen and franc. There have been no major reports released from the US at the start of the trading week and there are still no reports lined up today. Because of that, risk sentiment could push dollar pairs around, with the odds slightly in favor of the safe-haven dollar.
EUR
The euro continued to edge lower against most of its rivals, as traders didn’t seem to be too impressed by the latest developments in Greece. In addition, data from the euro zone came in weaker than expected, as Germany reported a 0.1% fall in producer prices versus the projected flat reading. Meanwhile, the euro zone current account balance showed a smaller than expected surplus of 18 billion EUR for May. There are no reports lined up from the region today.
GBP
The pound held on to its recent gains despite the lack of data from the UK yesterday. Today has the public sector net borrowing data on tap and this is expected to show a smaller deficit of 8.6 billion GBP compared to the previous 9.4 billion GBP figure, which would reflect a better financial picture for the economy.
CHF
The franc followed in the euro’s footsteps and sold off against most of its rivals since there were no reports to keep the currency afloat yesterday. Today has the Swiss trade balance on tap and it is expected to show a smaller surplus of 2.54 billion CHF compared to the previous 3.41 billion CHF figure.
JPY
The yen reacted mostly to its counter currencies, as Japanese banks were closed on a holiday yesterday. Today had the BOJ minutes on tap and the report showed that central bank officials are feeling upbeat about the increase in exports and the improvements in business activity. Risk flows could push yen pairs around for the rest of the day.
Commodity Currencies (AUD, NZD, CAD)
The comdolls had a bit of a recovery early on, as traders probably booked profits off their short positions ahead of this week’s key events. The RBA minutes indicated that further AUD declines are both likely and necessary since commodity prices are falling and trade volumes are also weak. In Canada, the wholesale sales report churned out a weaker than expected 1.0% decline versus the estimated 0.1% uptick, setting the stage for a disappointing retail sales report later on. New Zealand credit card spending showed a 6.5% gain, weaker compared to the previous 7.2% increase.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (July 22, 2015)
USD
The US dollar gave back some of its recent gains to its forex rivals, as traders probably booked their profits off their long positions. There have been no reports released from the US economy then while today only has the existing home sales figure on tap. The report could show an increase from 5.35M to 5.40M, which might be enough to renew dollar demand.
EUR
The euro managed to pull up from its recent dive against the dollar and resume its recovery against some of its peers. There have been no major reports out of the euro zone yesterday and today only has the low-tier Italian retail sales report due. The Greek parliament is set to pass legislation on the concrete austerity measures to be implemented within the day.
GBP
The pound weakened to most of its currency counterparts in recent trading sessions, as traders reduced their holdings ahead of today’s event risk. BOE minutes are due and the officials are expected to have voted unanimously to keep monetary policy unchanged. However, some believe that hawkish members might’ve voted to hike rates once more, as upbeat remarks could allow the pound to regain ground.
CHF
The franc was also in a weak spot yesterday, as there were no reports to give the currency a boost. Today is also an empty slate in terms of Swiss economic data, which means that franc pairs could take their cue from the euro or overall market sentiment.
JPY
The yen returned some of its recent wins when risk appetite seemed to improve yesterday. There have been no reports out of Japan then and today has the all industries activity index on tap. A 0.5% decline is eyed, following the disappointing read from the tertiary industry activity index last week.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were able to bounce back in recent sessions, as traders might’ve trimmed their short positions ahead of the event risks. Earlier today, Australia’s CPI came in line with expectations of a 0.7% increase. Later on, the RBNZ will announce its interest rate decision, with some analysts expecting to see a rate cut and more dovish remarks.
By Kate Curtis from Trader's Way
USD
The US dollar gave back some of its recent gains to its forex rivals, as traders probably booked their profits off their long positions. There have been no reports released from the US economy then while today only has the existing home sales figure on tap. The report could show an increase from 5.35M to 5.40M, which might be enough to renew dollar demand.
EUR
The euro managed to pull up from its recent dive against the dollar and resume its recovery against some of its peers. There have been no major reports out of the euro zone yesterday and today only has the low-tier Italian retail sales report due. The Greek parliament is set to pass legislation on the concrete austerity measures to be implemented within the day.
GBP
The pound weakened to most of its currency counterparts in recent trading sessions, as traders reduced their holdings ahead of today’s event risk. BOE minutes are due and the officials are expected to have voted unanimously to keep monetary policy unchanged. However, some believe that hawkish members might’ve voted to hike rates once more, as upbeat remarks could allow the pound to regain ground.
CHF
The franc was also in a weak spot yesterday, as there were no reports to give the currency a boost. Today is also an empty slate in terms of Swiss economic data, which means that franc pairs could take their cue from the euro or overall market sentiment.
JPY
The yen returned some of its recent wins when risk appetite seemed to improve yesterday. There have been no reports out of Japan then and today has the all industries activity index on tap. A 0.5% decline is eyed, following the disappointing read from the tertiary industry activity index last week.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were able to bounce back in recent sessions, as traders might’ve trimmed their short positions ahead of the event risks. Earlier today, Australia’s CPI came in line with expectations of a 0.7% increase. Later on, the RBNZ will announce its interest rate decision, with some analysts expecting to see a rate cut and more dovish remarks.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (July 23, 2015)
USD
The US dollar regained ground against its forex rivals, thanks to a selloff in commodities and a downturn in risk appetite. Data from the US has been stronger than expected, with existing home sales picking up from 5.32M to 5.49M. Up ahead, the US is set to print its initial jobless claims and CB leading index. The initial jobless claims report could show a fall from 281K to 279K, which is good for hiring trends, while the CB leading index is expected to post a 0.1% uptick.
EUR
The euro gave up ground to some of its forex counterparts ahead of the Greek parliament’s meeting on austerity measures. The shared currency had a bit of a relief rally when the legislation was passed, putting Greece closer to securing more bailout funds. The Spanish jobless rate is up for release today and a fall from 23.8% to 22.8% is eyed for the second quarter, which might be positive for the euro.
GBP
The pound was able to advance against most of its peers when the BOE minutes showed that the central bank was feeling more optimistic about their economic prospects. However, policymakers still voted unanimously to keep asset purchases and interest rates unchanged for the time being. UK retail sales data is due today and a 0.4% gain is eyed, stronger than the previous 0.2% uptick in May.
CHF
The franc moved mostly sideways in recent trading sessions due to the lack of top-tier events in Switzerland. Today’s schedule is still empty, which suggests that the franc could take its cue from risk sentiment and euro price trends.
JPY
The yen was able to rake in some gains against its rivals when risk appetite turned sour in the financial markets. Earlier today, Japan printed a wider trade deficit of 0.25 trillion JPY compared to the previous 0.18 trillion JPY but this wasn’t enough to derail the yen’s rally. No other reports are due from Japan today.
Commodity Currencies (AUD, NZD, CAD)
The RBNZ cut interest rates from 3.25% to 3.00% in this week’s rate statement, citing that some further easing might be likely. However, the Kiwi wasn’t sold off so heavily since the central bank was notably less dovish than expected. In Australia, the quarterly NAB business confidence index climbed from 0 to 4, reflecting a pickup in optimism for Q2. Canada is set to print its retail sales report later today and a 0.4% uptick in headline consumer spending and a 0.7% increase in core retail sales is eyed.
By Kate Curtis from Trader's Way
USD
The US dollar regained ground against its forex rivals, thanks to a selloff in commodities and a downturn in risk appetite. Data from the US has been stronger than expected, with existing home sales picking up from 5.32M to 5.49M. Up ahead, the US is set to print its initial jobless claims and CB leading index. The initial jobless claims report could show a fall from 281K to 279K, which is good for hiring trends, while the CB leading index is expected to post a 0.1% uptick.
EUR
The euro gave up ground to some of its forex counterparts ahead of the Greek parliament’s meeting on austerity measures. The shared currency had a bit of a relief rally when the legislation was passed, putting Greece closer to securing more bailout funds. The Spanish jobless rate is up for release today and a fall from 23.8% to 22.8% is eyed for the second quarter, which might be positive for the euro.
GBP
The pound was able to advance against most of its peers when the BOE minutes showed that the central bank was feeling more optimistic about their economic prospects. However, policymakers still voted unanimously to keep asset purchases and interest rates unchanged for the time being. UK retail sales data is due today and a 0.4% gain is eyed, stronger than the previous 0.2% uptick in May.
CHF
The franc moved mostly sideways in recent trading sessions due to the lack of top-tier events in Switzerland. Today’s schedule is still empty, which suggests that the franc could take its cue from risk sentiment and euro price trends.
JPY
The yen was able to rake in some gains against its rivals when risk appetite turned sour in the financial markets. Earlier today, Japan printed a wider trade deficit of 0.25 trillion JPY compared to the previous 0.18 trillion JPY but this wasn’t enough to derail the yen’s rally. No other reports are due from Japan today.
Commodity Currencies (AUD, NZD, CAD)
The RBNZ cut interest rates from 3.25% to 3.00% in this week’s rate statement, citing that some further easing might be likely. However, the Kiwi wasn’t sold off so heavily since the central bank was notably less dovish than expected. In Australia, the quarterly NAB business confidence index climbed from 0 to 4, reflecting a pickup in optimism for Q2. Canada is set to print its retail sales report later today and a 0.4% uptick in headline consumer spending and a 0.7% increase in core retail sales is eyed.
By Kate Curtis from Trader's Way
katetrades
TradersWay.com representative
- Messages
- 36
Forex Major Currencies Outlook (July 24, 2015)
USD
The US dollar advanced against most of its forex rivals as risk aversion set in when commodity prices continued to tumble. Data from the US came in better than expected, with initial jobless claims falling to 255K and the CB leading index showing a strong 0.6% increase and an upgrade in the previous figure. US flash manufacturing PMI is due today, along with new home sales figures. The PMI could show a climb from 53.6 to 53.7 while new home sales could dip from 546K to 543K.
EUR
The euro managed to hold on to some of its recent gains to the dollar and yen while advancing against the commodity currencies and the pound. The Greek parliament signed the legislation that would allow harsher austerity measures to be put in place, enabling the country to secure more bailout funds and stay in the euro zone. The ECB also expanded its emergency lending fund to the nation. For today, euro zone PMI readings are up for release and strong figures could give the shared currency a boost.
GBP
The pound gave up ground in yesterday’s London trading session when the UK retail sales figure disappointed. The report showed a meager 0.2% uptick versus the projected 0.4% figure but the previous reading was upgraded from 0.2% to 0.3%. Still, the report was enough for some traders to start doubting that consumers are able to take advantage of higher wages and weaker inflation. BBA mortgage approvals are due today and a climb from 42.5K to 43.5K is eyed.
CHF
The franc was in a weak spot in recent trading even though there were no reports released from Switzerland. Speculations of further intervention from the SNB kept EURCHF climbing, as the central bank recently admitted to stepping in the forex market to actively weaken the franc. No reports are due from the Swiss economy today.
JPY
The yen strengthened in recent trading sessions, thanks to risk aversion and falling commodities. Earlier today, Japan reported an increase in its flash manufacturing PMI from 50.1 to 51.4, reflecting a stronger pace of expansion in the industry. No other reports are due from Japan today, leaving risk sentiment at the helm.
Commodity Currencies (AUD, NZD, CAD)
Thecomdolls were sold off in recent sessions, as oil and gold prices continued to tumble. Earlier today, China printed a fall in its Markit manufacturing PMI from 49.4 to 48.2 – its lowest level in 15 months. This triggered a sharp selloff for the Aussie, as traders anticipated even weaker trade levels from China’s largest trade partner. Yesterday, Canada printed stronger than expected retail sales figures, with the headline reading showing a 1.0% gain and the core figure showing a 0.9% increase.
By Kate Curtis from Trader's Way
USD
The US dollar advanced against most of its forex rivals as risk aversion set in when commodity prices continued to tumble. Data from the US came in better than expected, with initial jobless claims falling to 255K and the CB leading index showing a strong 0.6% increase and an upgrade in the previous figure. US flash manufacturing PMI is due today, along with new home sales figures. The PMI could show a climb from 53.6 to 53.7 while new home sales could dip from 546K to 543K.
EUR
The euro managed to hold on to some of its recent gains to the dollar and yen while advancing against the commodity currencies and the pound. The Greek parliament signed the legislation that would allow harsher austerity measures to be put in place, enabling the country to secure more bailout funds and stay in the euro zone. The ECB also expanded its emergency lending fund to the nation. For today, euro zone PMI readings are up for release and strong figures could give the shared currency a boost.
GBP
The pound gave up ground in yesterday’s London trading session when the UK retail sales figure disappointed. The report showed a meager 0.2% uptick versus the projected 0.4% figure but the previous reading was upgraded from 0.2% to 0.3%. Still, the report was enough for some traders to start doubting that consumers are able to take advantage of higher wages and weaker inflation. BBA mortgage approvals are due today and a climb from 42.5K to 43.5K is eyed.
CHF
The franc was in a weak spot in recent trading even though there were no reports released from Switzerland. Speculations of further intervention from the SNB kept EURCHF climbing, as the central bank recently admitted to stepping in the forex market to actively weaken the franc. No reports are due from the Swiss economy today.
JPY
The yen strengthened in recent trading sessions, thanks to risk aversion and falling commodities. Earlier today, Japan reported an increase in its flash manufacturing PMI from 50.1 to 51.4, reflecting a stronger pace of expansion in the industry. No other reports are due from Japan today, leaving risk sentiment at the helm.
Commodity Currencies (AUD, NZD, CAD)
Thecomdolls were sold off in recent sessions, as oil and gold prices continued to tumble. Earlier today, China printed a fall in its Markit manufacturing PMI from 49.4 to 48.2 – its lowest level in 15 months. This triggered a sharp selloff for the Aussie, as traders anticipated even weaker trade levels from China’s largest trade partner. Yesterday, Canada printed stronger than expected retail sales figures, with the headline reading showing a 1.0% gain and the core figure showing a 0.9% increase.
By Kate Curtis from Trader's Way
FX Brother
Suspicious Person
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katetrades
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Forex Major Currencies Outlook (July 27, 2015)
USD
The US dollar was in for a weak start this week since traders seem to be reducing their exposure ahead of the top-tier events later on. For today, only the durable goods orders report is due and a rebound is eyed. The headline figure could show a 3.2% gain after the previous 2.2% slide while the core figure could show a 0.4% uptick after the previous flat reading.
EUR
The euro advanced to some of its forex rivals at the start of this week, as talks in Greece continued to see positive developments. Last Friday’s PMI readings from France and Germany were mostly disappointing but these were brushed off. In terms of data releases, the German Ifo business climate reading is due today and a climb from 107.4 to 107.6 is expected for July. Stronger than expected data could spur more euro gains while a weak reading could force the shared currency to return some of its wins.
GBP
The pound could be in for further consolidation after Friday’s lack of top-tier data. Only the CBI industrial order expectations report is due today and a climb from -7 to -4 is eyed, reflecting a smaller contraction in volumes. A positive reading could mean a rally for the pound while a lower than expected figure could spur more losses.
CHF
The franc sold off to its currency counterparts as traders seemed to favor the dollar among the safe-haven currencies these days. There have been no reports released from the Swiss economy then and none are due today, indicating that risk appetite might keep driving franc price action.
JPY
The yen advanced to its counterparts on Friday when commodity price slides kept risk aversion in play. There have been no reports released from Japan then and none are due today, suggesting that risk sentiment could push yen pairs around.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were in a weak spot last week due mostly to falling gold prices. Crude oil is also edging lower, triggering more declines for the Loonie. There are no reports lined up from Australia, Canada, or New Zealand today which means that commodity price trends could play a role in the price action of their respective currencies.
By Kate Curtis from Trader's Way
USD
The US dollar was in for a weak start this week since traders seem to be reducing their exposure ahead of the top-tier events later on. For today, only the durable goods orders report is due and a rebound is eyed. The headline figure could show a 3.2% gain after the previous 2.2% slide while the core figure could show a 0.4% uptick after the previous flat reading.
EUR
The euro advanced to some of its forex rivals at the start of this week, as talks in Greece continued to see positive developments. Last Friday’s PMI readings from France and Germany were mostly disappointing but these were brushed off. In terms of data releases, the German Ifo business climate reading is due today and a climb from 107.4 to 107.6 is expected for July. Stronger than expected data could spur more euro gains while a weak reading could force the shared currency to return some of its wins.
GBP
The pound could be in for further consolidation after Friday’s lack of top-tier data. Only the CBI industrial order expectations report is due today and a climb from -7 to -4 is eyed, reflecting a smaller contraction in volumes. A positive reading could mean a rally for the pound while a lower than expected figure could spur more losses.
CHF
The franc sold off to its currency counterparts as traders seemed to favor the dollar among the safe-haven currencies these days. There have been no reports released from the Swiss economy then and none are due today, indicating that risk appetite might keep driving franc price action.
JPY
The yen advanced to its counterparts on Friday when commodity price slides kept risk aversion in play. There have been no reports released from Japan then and none are due today, suggesting that risk sentiment could push yen pairs around.
Commodity Currencies (AUD, NZD, CAD)
The comdolls were in a weak spot last week due mostly to falling gold prices. Crude oil is also edging lower, triggering more declines for the Loonie. There are no reports lined up from Australia, Canada, or New Zealand today which means that commodity price trends could play a role in the price action of their respective currencies.
By Kate Curtis from Trader's Way
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