News & Analysis
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The dollar weakened across the board yesterday, posting gains against the Antipodean currencies only yesterday. The Japanese yen was the best performing G10 currencies yesterday as reports emerged that the US and China are struggling to finalise the first phase of the trade deal.
This morning’s German GDP beat may offer some support in the short term. The Eurozone’s largest economy was widely expected to have entered a technical recession in Q3.
The Eurozone’s largest economy was widely expected to have entered a technical recession in Q3, but stronger consumption and government expenditure offset a sharp downturn.
Price action was fairly muted in G10 FX again yesterday despite threats by President Trump to substantially raise tariffs on China.
Sterling rose sharply yesterday after Nigel Farage announced the Brexit Party would not be contesting Conservative Party seats won in 2017.
The RBNZ faces a finely balanced decision this week, with domestic data offering both positive and negative surprises.
Riots and civil unrest predominantly due to the austerity measures has been a key driver for LATAM markets over the past few weeks as government’s attempt to restructure their fiscal liabilities.
After a strong week, the US dollar trades on the back foot this morning following comments from President Trump on Friday that has dampened optimism of a more substantial trade deal.
Sterling had an eventful day yesterday, weakening as the Bank of England’s Monetary Policy Committee decided to keep rates unchanged in a split 7-2 decision, with the dissenters in favour of a rate cut.
Patience was the buzzword for yesterday’s G10 price action as investors enjoyed a slump in volatility after an intense period of Brexit headlines and Fed repricing due to Trade War developments.