Yesterday dominated by the Fed meeting where the expectation of the US Federal Reserve to ended QE was met while maintaining the tone of “considerable” time in regards to the period of low interest rates within their accompanying statement. All the Feds statement has opened hope for market investor to place bets on the likelihood of an interest hike could be as high as 75%, the USD has steadily strength against majority of its major trading counterparts this year. They’re stance was a little more hawkish with the labour markets which had shown strength enough to withstand the end of the QE, and down play threat of deflation, Leaving many speculating on how much of increase interest rates next year from 68% last week to 75%. The Loonie soften off during yesterdays US Federal Reserve announcement, strength picked up quickly vanishing unable to extend any longer periods of strength with the stronger trend backing the US dollar. This morning [...]
The US Dollar trading within tight range as the financial markets gear up and get ready for this afternoon release of the US Federal Reserve Market Committee Rate Decision and accompany statement afterwards. The Feds bond buying program is expected to come to an end and with no other major data releases we could just see more of the same range, however the market is still concern with the US recovery being choppy with both the Durable and Homes prices disappointing data report countered by the Consumer Confidence reaching a 7-year high, the statement release afterward will be closely monitored and if the “considerable” time stance is shorten could have the market in a hawkish flight for the Greenback. However market consensus is 80% will continue to maintain same tone and reference in their statement [...]
The US Dollar up against some headwinds ever since the beginning of this week as the market gear up for tomorrows FOMC decision, already some minor volatility today and will likely spill over to tomorrow morning, with markets expecting slippage in the USD slightly. Wednesday decision with no press conference this time but a statement to follow will have the market closely engaged and dissecting every word for any hints of the Fed’s stance become dovish. Today’s main data this morning are the September US Durable Goods Orders which was expecting an increase to 0.5% vs. -18.2% previous month but reporting in the red at -0.2%. Late this morning the US Consumer Confidence Index for October expecting an uptick to 87 from previous reading at 86, than last notable data of the day the Richmond Fed Manufacturing Index for October expected to come in at 10 while previously recorded at 14, which should have little impact on the market. So far [...]
This morning, the Greenback trading softer against most of the major counterparts, prior release of the monthly US new home sales data for September, market expectations of a correctional decline of -6.8% from a very strong reading from August at 18.0%, however there is a steady increase of total home sales over all the past few releases. During yesterday session, the USD was trading stronger against other key currencies as the US weekly initial jobless claims came in higher than market forecast for the week of October 18, while continuing claims did report a decline for the week October 11. Meanwhile, the US Manufacturing PMI posted a 3 month low level during October and the housing price index did see a minor increase MoM during August. Over to Euro zone and the German Consumer Confidence registering an increase of 8.5 vs. 8 markets forecast while previously registering an 8.4. Meanwhile the Sterling Pound holding down gains and [...]
The US dollar gained grounds yesterday against all other major currencies counter parts on the back of better than expected US CPI data. While the US rolls out better than horrible data lately combined with more speculations the ECB could be increasing easing measures the EUR goes under pressures. Short terms mixed signals from the US data with a dovish tone from the Feds are likely to keep the market on its toes but the consensus is that the Fed will increase rates Q2 of 2015. The Canadian Loonie trading softer once again against the Greenback, after release of disappointing Canadian retail sales figures for August yesterday but did strength yesterday after more a hawkish tone from Bank of Canada, as they stated the economy did have improvement and is more robust than the previous impression, the Bank of Canada leaving the monetary policy key interest rates unchanged at 1.0%, as what market forecasted. Today the main release from US with Initial [...]
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