More balance from Fed Chair Yellen

Jul 19, 2015 21:26 pm UTC| Commentary

In testimony before Congress this week, Federal Reserve Chair Janet Yellen took yet another step away from the dovish tone of her recent appearances. In particular, she noted more momentum, less slack, and reduced...

AUD and NZD: RBNZ to cut further - Australian CPI in focus

Jul 19, 2015 21:10 pm UTC| Commentary

The RBNZ decides on interest rates next Thursday and a further 25bp rate cut is expected to take the cash rate to 3%.With underlying inflation remaining well below the 2% target and the outlook for growth weaker due to...

CAD: Another insurance cut?

Jul 19, 2015 20:54 pm UTC| Commentary

Incoming economic data will be closely followed by market participants to assess the next BoC move. After delivering an additional 25 basis points cut in the reference rate last week (for a total of 50bp year-to-date), it...

Global factors continue to dominate Japanese Yen: Barclays

Jul 19, 2015 20:48 pm UTC| Commentary Central Banks

Driver of the yen remains outside Japan as the BoJ remained sidelined at the last weeks meeting, whereas the improving risk sentiment and general USD strength brought USDJPY back to 124. Given eased concerns on Greece and...

GBP: Sterling to stay supported on the basis of strong retail sales and fundamentals

Jul 19, 2015 20:42 pm UTC| Commentary

Recent sessions have seen GBP outperform as market participants have looked past the weak inflation and labour market reports, focusing more on recent BoE rhetoric regarding the outlook of sterling rates. Moreover, with...

EUR: Re-focus on fundamentals augurs for EURUSD downside

Jul 19, 2015 20:33 pm UTC| Commentary

Last weeks price action was suggestive of the markets desire to move past the Greek political uncertainty and re-engage in fundamental positions, including using the EUR as the funding currency of choice and being short...

USD: Wait and see mode

Jul 19, 2015 20:21 pm UTC| Commentary

A quiet week ahead for the US in terms of data releases. The USD will continue to be supported as the US cyclical outperformance and renewed weakness in commodity prices benefits it relative to most of its peers. Moreover,...