Forex News, Page 14

Market focus on trade talks is evidence in the early moves today. Can FED Chair Powell hit reverse on the Dollar?

Economic data out of the UK and Brexit chatter keeps the Pound in focus. Across the pond, expect chatter from Capitol Hill to also influence in the day.

The RBA dropped its long-standing prediction that an improving economy meant the next move was likely to be upwards. The New Zealand Dollar tumbled last week in sympathy with the drop in the Australian Dollar and in anticipation of a similar tone from the Reserve Bank of New Zealand (RBNZ)

A series of events throughout the week helped drive the dollar even higher, but for different reasons. This time, it wasn’t higher yields driving the greenback higher, but rather safe-haven buying related to growing concerns over the weakening global economy and renewed concerns over U.S.-China relations which drove down appetite

The economic calendar for the current week remained relatively quiet with a couple of monetary policy decisions from Reserve Bank of Australia and Bank of England.

It’s risk off through the early part of the day, weighed by central bank economic forecast revisions. Trade data out of Germany is in focus today.

RBA Governor Philip Lowe earlier this week vacated a policy tightening bias and instead sees the chances of an interest-rate cut or a hike as “more evenly balanced”. However, the RBA board does not see a strong case to move rates in the near-term.

Shares of Twitter were moving lower in early trading which added to the general aura of negativity in the market today.

Brexit and the BoE will be in focus today. Will growth forecasts be revised downwards? The Pound could be in for a choppy day.

The Aussie Dollar took an early hit on dovish commentary from RBA Governor Lowe. Trump failed to rattle the markets in his State of the Union speech, leaving economic data and Brexit chatter in focus through the day.

Before the speech, financial market traders had priced in the chance of a rate cut this year at better than 50-50 even though the RBA said as recently as Tuesday that its most likely next move would be to increase the cash rate. Based on the current price action, it’s

The RBA holds back from any talk of a rate cut to drive the Aussie Dollar back into the green. For the day ahead, Trump will be the main area of focus.

The sentiment is generally positive following a raft of good news in the previous week but expectations for big earnings after the close of trading kept investors in check.

It’s a positive start to the day for the Greenback, as the markets respond to Friday’s solid labor market numbers out of the U.S. It’s risk-on.

China’s manufacturing sector weakened further to test risk appetite ahead of January’s nonfarm payroll and wage growth figures out of the U.S.

The American dollar came under pressure because of the willingness of the Fed to be patient in assessing the situation.

The drop in U.S. Treasury yields helped make the U.S. Dollar a less-attractive investment sending the major currencies sharply higher. After the Fed statement and Powell’s remarks, the futures markets continued to price in no further tightening while indicating a small chance for a rate cut over the next year.

Stats out of China continued to raise red flags for the global economy, while hopes of a trade agreement softened the blow. Focus shifts to the EUR.

Traders liked the headline number, sending the Australian Dollar higher and just below its early January top at .7236 and its mid-December top at .7247. This price action is likely related to optimism over the outcome of the US-China trade talks and expectations of a dovish message from the U.S.

The Aussie Dollar took a bounce early on, supported by a jump in inflation, with the Pound in the recovery room, as focus shifts to the U.S Dollar.