Post Tagged with: "Mark Carney"

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 events on our calendar. Join us as we explore the big market movers for this week.

Last week, further lukewarm data from the US unsettled markets: Retail sales disappointed with a flat reading after gaining 1.1% in March, missing forecast for a 0.3% rise; Core sales rose a mere 0.1% while anticipated to rise 0.4%. Producer prices declined 0.4% in April after a 0.2% gain in the prior month, while expected to increase 0.1%; Consumer sentiment also disappointed with a sharp drop from 95.9 in April to 88.6 this month, lower than the 95.8 forecast by analysts. However, jobless claims continued to decline reaching 264,000 after posting 265,000 in the prior week. Will the US economy shake off losses in the coming weeks? Let’s start:

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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

Forex Weekly Outlook Dec.15-19

Forex Weekly Outlook Dec.15-19

The US dollar retraced some of the previous gains but managed to retrace the retracement as well. Japan’s Lower House Elections, UK inflation and employment data and the most important event: the last Fed decision for the year are the main highlights for this week. Follow along as we explore the Forex market movers. The US consumer [&hellip