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US consumer confidence misses with only 89.5
The University of Michigan’s preliminary consumer sentiment report for July was expected to tick up to 93.7 from 93.5 in the final figure for June. Business inventories, released at the same time, carried expectations for an advance worth 0.1%. The US dollar has been on the move thanks to good data coming out earlier. Retail […]
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US retail sales, inflation beat expectations – USD stronger
Key US figures look good: retail sales rise 0.6% m/m, better than 0.1% expected. Core sales are +0.7% instead of 0.4%. Inflation figures also look good. The USD is slightly stronger Retail sales: The control group is up 0.5%, better than 0.3% expected and on top of an upwards revision for May: 0.5% instead of […]
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AUD/USD continues trending higher in channel after Chinese data
The Australian dollar continues looking good. After Australian employment data seemed good enough, figures from Australia’s No. 1 trade partner look even better. China reported a growth rate of 6.7% in Q2 2016 slightly better than 6.6% expected and identical to Q1. Industrial output surprised to the upside with 6.2% instead of 5.9% expected and 6% last […]
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BOE keeps us waiting 3 weeks – 3 reactions
The Bank of England decided not to cut rates in a move that surprised many and boosted the pound. However, it kept us waiting for the next decision, just three weeks away. Here are three reactions: Here is their view, courtesy of eFXnews: BoE On Hold As We Expected; Paving The Way To An August Rate […]
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US jobless claims beat with 254K again, PPI strong – USD rises
Better than expected figures all around: US jobless claims remain at a low of 254K. PPI rises 0.5% m/m and 0.3% y/y. Core CPI is up 0.4% and 1.3% y/y. All the numbers are above expectations. The US dollar is very marginally higher against the euro with a halt to rises but the moves are […]
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BOE leaves rates unchanged – GBP/USD jumps and cools – live
No cut – only one member wanted to cut rates, the rest want to wait another 3 weeks until the QIR. GBP/USD jumped to resistance at 1.3477 and falls back to the 1.33 handle. They see the economy weakening and perhaps one of the reasons not to cut was the fear of higher inflation. However, uncertainty about Brexit, the economy […]
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GBP/USD rises ahead of the BOE – Markets pricing out a cut?
It has been quite a week in cable trading: after an initial fall, the clearing up of the Conservative Contest sent GBP/USD nearly 500 pips higher. When Theresa May actually entered No. 10, we had a “sell the fact” effect. And while politics did steal the show, the main event for markets is the decision of the central […]
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USD/JPY jumps above 105 on helicopter sounds
It is quite a weak week for the yen. The Japanese currency began the week with a plunge: PM Abe’s LDP won more seats in the upper house and talked about a stimulus package. This pushed USD/JPY above 102 and the pair never stopped there. And now we have a move above resistance at 105. This […]
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GBP/USD reaches high resistance on ongoing May effect
The recovery of the pound continues: it is already 400 pips above the pre-Leadsom quit lows of 1.2850. At current levels, we are back to a line that provided support to the pair before the big plunge that came with the withdrawal freeze of property fun…
Mark Carney talks – live blog
BOE Governor Mark Carney talks in front of the Treasury Select Committee. This comes two days ahead of the rate decision, in which the Monetary Policy Committee is expected to take action either slashing the interest rate or adding more QE. Live Blog GBP/USD was trading on higher ground at 1.3150. Sterling continues enjoying the fresh […]
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