MORNING SLICES (Abbreviated) Fundys – The lack of economic releases in the overnight session failed to prevent the markets from moving significantly with currencies selling off across the board in favor of the flight to safety lure of the Yen and USD .
Canadian Dollar To Weaken Further As Labor Market Falters Fundamental Forecast for Canadian Dollar: Bearish -?Canadian GDP Contracts in April, Factory Prices Tumble Lower in May -?USD/CAD Sentiment Mixed The Canadian dollar weakened against the greenback following the drop in risk appetite, and the loonie may continue to face increased selling pressures over the following week as the economic calendar foreshadows a weakening outlook for the world’s eighth largest economy. As a result, fears of a protracted recession could lead the Bank of Canada to take additional steps this month in an effort to stem the downside risks for growth and inflation, and speculation for further easing could weigh on the exchange rate over the near-term.
Swiss Franc May Fall If Bulls Give Up Fight Against Intervention Fundamental Forecast for Swiss Franc: Bearish - Swiss UBS May Consumption Indicator fell to 0.772 from 0.912, which was the lowest in five years -?SVME-PMI Index rose for July to 41.8 from 39.8, as orders increased -?Consumer prices fell for a fourth month by 1.0%, but less than the -1.1% expected The Swiss Franc ended last week relatively unchanged after it fell after reaching an eight day high on prospective SNB intervention and broad based dollar strength. The Swiss National Bank Governing Board member Thomas Jordan said the central bank will continue to intervene on an ad-hoc basis to prevent the Swiss franc from rising, as part of its massive quantitative easing. We didn’t see any clear signs of intervention as we did the week prior when the USD/CHF rose nearly 400 pips on June 24th
After the greenback rallied across the board in N.Y. trade on Tuesday, price action in Asia on currencies was largely range-bound with traders unwilling…
The next US dollar bull leg within a multi-year bull trend may be underway. Levels that define the trend are clear across the board and reward / risk is…
-EURUSD – Euro Sentiment Forecasts Further EUR Strength -USDJPY – Japanese Yen Forecast Aggressively Bullish Against US Dollar -GBPUSD – British Pound…
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US Jobless Benefit Rolls Falls While Initial Claims Remains Above 600K for 20th Week
As expected, the Bank of Japan left its overnight policy rate steady at 0.10%, for the eighth consecutive meeting. The Board felt that recent developments…
The UK Consumer Price Index report is expected to show that the annual pace of inflation to fell to 2.0% in the year to May, the lowest since September…
Our staff has been monitoring the price action of the Australian Dollar versus it’s New Zealand counterpart for quite some time.
