Post Tagged with: "Mark Carney"

Forex Weekly Outlook June 8-12

The US dollar had the final word in a turbulent and volatile week. G7 Meetings, a rate decision in New Zealand, employment data in Australia, as well as US retail sales, PPI and Consumer Sentiment stand out. These are the highlight events for this week. Join us as we explore the main market movers.

US Non-Farm Payrolls surprised with an excellent release showing a job gain of 280,000 in May. This was accompanied by a rise in wages widening participation and sent the dollar rallying. Things were more complicated beforehand for the greenback. The euro enjoyed the lack of worries from the ECB about bond volatility and the lack of rush to front load QE. Yet most of the EUR/USD surge was eventually erased. The pound suffered from a poor PMI while the Aussie only partially enjoyed the strong GDP report. What’s next for currencies? We can certainly agree with Draghi about getting used to volatility. Let’s start:

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Forex Weekly Outlook May 18-22

Forex Weekly Outlook May 18-22

The dollar was on the back foot on more worrying signs from the US economy. Inflation data from the UK, the US and Canada, German Economic Sentiment,  GDP data from Japan, US FOMC Meeting Minutes, employment and manufacturing data as well as speeches from Mario Draghi, Mark Carney and Haruhiko Kuroda. These are the main [&hellip

Sterling Post-Election Honeymoon Extends Despite Cautious Carney

Sterling Post-Election Honeymoon Extends Despite Cautious Carney

Governor Mark Carney took a guarded stance this week at the Bank of England’s (BoE) Quarterly Inflation Report (QIR); focusing on the risk factors facing the British economy and the perils of raising interest rates too soon. Specifically Carney singled out Sterling’s performance against the Euro as a headwind facing inflation growth and that its [&hellip

Forex Weekly Outlook May 11-15

Forex Weekly Outlook May 11-15

Forex markets have seen a turbulent week, in which the USD suffered but managed to partially recover. German GDP, UK Employment data, Mark Carney’s speech and US consumer data stand out. These are the major events on forex calendar. Join us as we explore this week’s highlights. The Non-Farm Payrolls release showed the U.S. economy created 223,000 [&hellip

GBP/USD < 1.48

GBP/USD < 1.48

Pound/dollar continues falling and the critical level of 1.48 is now breached. While the break is not confirmed (low only at 1.4790 at the time of writing) these are the lowest levels since 2010, below the lows of 2013. The fresh move lower is related to a fresh wave of USD strength, but the larger move comes [&hellip

GBP/USD beginning to feel the dollar pressure – nears 1.50

GBP/USD beginning to feel the dollar pressure – nears 1.50

The British pound has been one of the more resilient currencies in the current dollar storm, with cable keeping away from 1.50, and with the pound setting new records against the euro as well as other currencies on a daily basis. But now, the most recent wave combined with weak UK manufacturing data, GBP/USD is getting closer to the [&hellip

GDP/USD Forecast Mar. 9-13

GDP/USD Forecast Mar. 9-13

The British pound was hard hit last week, as GBP/USD lost close to 400 points. The pair closed the week slightly above the symbolic 1.50 level. There are 12 events this week. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. Last week’s pound collapse was more [&hellip

All eyes on Janet Yellen’s testimony

All eyes on Janet Yellen’s testimony

Today’s focus will be with Fed Chair Yellen’s testimony to the Senate Banking Committee in Washington. This happens every six months and is a key element of the Fed’s accountability to the US Administration. The dollar will be looking closely for further clarification of when the Fed may start tightening rates, having moved their forward [&hellip

Carney not worried about inflation, exchange rate – GBP/USD shoots 100 pips up

Carney not worried about inflation, exchange rate – GBP/USD shoots 100 pips up

The inflation report is apparently pound positive. GBP/USD jumped from 1.5235 to nearly 1.53, but if beginning to slide back. Update: the pair enjoys a second wind of gains, crossing 1.5320. This is already turning into a gain of over 100 pips. Mark Carney and his colleagues seem bullish on the UK economy and see [&hellip

Forex Weekly Outlook February 9-13

Forex Weekly Outlook February 9-13

The greenback was on the back foot throughout most of the first week of February, before staging a partial comeback. We now have Australian employment data, the BOE Inflation Report, US retail sales, consumer sentiment as the major market movers for this week. Here is an outlook on the highlights coming our way. After some underwhelming figures [&hellip