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News & Analysis

Our focus is on helping our clients make better informed trading decisions by providing a balanced and unbiased view of the foreign exchange market.

Sterling bucks G10 trend and makes gains as Bank of England unchanged

Sterling bucks G10 trend and makes gains as Bank of England unchanged

Sterling is trading up against both the dollar and euro this morning after the Bank of England kept all policy settings unchanged in a unanimous decision. However, forecasts for 2021 were solidly downgraded, due to the MPC now assuming a greater degree of “scarring” to consumer behaviour and productivity.

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Dollar smile becomes a dollar smirk… 

Dollar smile becomes a dollar smirk… 

The dollar has weakened in recent weeks and months, due to a potent confluence of factors including a uniquely bad COVID pandemic, a febrile political landscape, and anticipation of the FOMC delivering a lower US yield curve for well into the future.

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Dollar on defensive again as sterling eyes tomorrow’s MPC

Dollar on defensive again as sterling eyes tomorrow’s MPC

After a brief period of stability the dollar once again found itself on the defensive against many major currencies overnight, with CAD, NZD and AUD racking up the biggest gains among the G10 currencies. Higher gold and commodity prices were also likely related to the pattern of gains overnight.

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EURCHF latest forecasts

EURCHF latest forecasts

We’ve recently updated our EURCHF and USDCHF forecasts, an outlook will be scheduled for sometime next week. Discussion of EUR and USD dynamics will also be outlined in their respective outlooks due imminently. We predominantly forecast EURCHF and then triangulate out our USDCHF calls with the aid of our EURUSD forecasts.

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Non-Farms cap busy week of data

Non-Farms cap busy week of data

Covid cases rising in parts of Europe, Tokyo and Victoria could prompt the dollar to find support from the risk environment deteriorating in a broader sense as opposed to risks being isolated to the US economy. While the progression of Covid is monitored closely, key data points such as Nonfarm payrolls, central bank meetings in Australia, Brazil, the UK and India and eurozone retail sales are in focus.

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Meet the team

Ranko Berich

Ranko Berich

Head of Market Analysis

Ranko Berich heads up the team of analysts at Monex Canada and Monex Europe. The analysis team provide timely insight and commentary on developments in currency movements and their drivers.
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Simon Harvey

Simon Harvey

FX Market Analyst

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Olivia.Alvarez

Olivia Alvarez

FX Market Analyst

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