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👤Xinyang
🕔December 12, 2016
Fundamental Outlook: EUR/CAD
The main news from over the weekend was the announcement that Non-OPEC producers have agreed to cut output by 558,000 barrels per day starting from January. Consequently, WTI surged higher, opening above $53 per barrel, supporting CAD and commodity-linked currencies as a whole.…
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👤Xinyang
🕔December 9, 2016
Fundamental Outlook: EUR/CAD
There was no tier 1 data or news of note during the Asia-Pacific session. EUR continued to remain pressured against most of its counterparts with EURUSD briefly breaking the 106.00 handle alongside USD strength as the USD-index rose back above 101.00.…
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China Inflation Rise In November
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👤Arthur Greene
🕔December 9, 2016
China’s consumer inflation picked up for a third-straight month in November, but remained below the upper limit of a government target range, official data showed on Friday, signs of improving demand in the world’s second-largest economy.
China’s consumer price index (CPI) advanced 2.3% from a year ago, after climbing 2.1% in October, the National Bureau of Statistics said in a report on Friday.…
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👤Arthur Greene
🕔December 8, 2016
Japan unexpectedly cut its reading of third-quarter economic growth to an annualized 1.3 percent, from a preliminary estimate of 2.2 percent expansion. The revision was driven by drops in business spending and in private inventories.
The gross domestic product (GDP) expanded just 0.3% in July-September and 1.3% annually, the Cabinet Office said on Thursday in a revised estimate.…
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👤Xinyang
🕔December 8, 2016
Fundamental Outlook: NZD/JPY
During the Asia-Pacific session, AUD remained well supported despite a wider than expected trade deficit as strength in iron ore prices and strong Chinese data which showed an 8-month high in exports and 3-year high in imports. NZD also remained well supported, following upward revisions to GDP targets with FY16/17 GDP target increased to 3.5% from 3.3% and FY17/18 target increased to 3.4% from 3.0%.…
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Bank of Canada Keeps Interest Rate Steady At 0.5%
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👤Arthur Greene
🕔December 7, 2016
The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty.
The decision was in line with expectations with all major banks expecting rates to be left unchanged at this meeting.…
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👤Xinyang
🕔December 6, 2016
Fundamental Outlook: EUR/AUD
During the Asia-Pacific session, the RBA left monetary policy unchanged with the Cash Rate remaining at 1.5% as widely expected. The accompanying statement failed to provide any surprises with the main comments stating that “maintaining policy is consistent with sustainable economic growth and achieving inflation target over time” and “The economy is continuing its transition following the mining investment boom, some slowing in the year-ended growth rate is likely before it picks up again”.…
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👤Xinyang
🕔December 5, 2016
Fundamental Outlook: EUR/USD
The main focus throughout the Asia-Pacific session was the Italian referendum which saw a victory for the ‘no’ camp with 59.26% of the votes. Consequently, EUR weakened across the board with EURUSD declining to 20-month lows, just short of the 1.0500 handle.…
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👤Xinyang
🕔December 2, 2016
Fundamental Outlook: EUR/GBP
During the Asia-Pacific session, Australian Retail Sales beat estimates at 0.5% versus expectations of 0.3%. This had an overall muted reaction on AUD with the Asia-Pacific session remaining relatively quiet ahead of today’s NFP report. Continued strength in oil prices saw CAD remain supported with USDCAD having tested the 1.3300 handle, while a slight risk-off tone saw USDJPY break briefly below the 114.00 handle and yesterday’s lows.…
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👤Xinyang
🕔December 1, 2016
Fundamental Outlook: CAD/JPY
During the Asia-Pacific session, Australian Capex data added to the recent slew of poor Australian data, missing on expectations at -4.0% q/q versus -3.0% expected. Chinese Manufacturing PMI beat expectations at 51.7 versus 51.0 expected with Caixin Manufacturing PMI printing in-line with expectations at 50.9.…
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