20 Sept: Trend table outlook for FX, Commodities, Indices

It looks like being a slow end to the week given the rather empty calendar and, in the short term at least, there does not appear to be an awful lot on the heat map to give any directional guidance. The one exception to this may be ongoing Sterling strength, with a positive bias against each of the… Read More »

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20 Sept: BOE, SNB on hold. US$ mildly lower. Stocks drift sideways. Quiet calendar for Friday.

After each of the BOJ, BOE and the SNB all left their respective interest rates on hold, it has been a relatively steady session on Thursday although both the Chf and Gbp saw a move higher, with Cable squeezing up to levels last seen in early July. Elsewhere, the Aud and the Kiwi remain heavy after more soft… Read More »

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19 Sept: Trend table outlook for FX, Commodities, Indices

Markets have shown limited reaction to the Fed decision to cut rates by 25bp but the US$ is a little firmer and this seems as though it could continue, with US$Jpy and US$Chf both looking constructive, while the Aud and the Kiwi both look heavy. The Euro and Sterling look mixed in the short term although the cross,… Read More »

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19 Sept: Fed cut by 25bp. Little market reaction. BOJ, BOE, SNB policy meetings today. Australian jobs data coming up.

The Fed did as expected and cut interest rates by 25bp on Wednesday but gave few hints of whether or when it might reduce borrowing costs further although in lowering the overnight lending rate to a range of 1.75% to 2.00% on a 7-3 vote, the FOMC did note the ongoing global risks and  the “weakened” business investment… Read More »

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18 Sept: WTI down 6% as Saudi production is restored. US$ lower, stocks steady, with all eyes now on the Fed.

The US$ is lower on Tuesday after a mostly choppy and range-bound session ahead of an expected interest rate cut by the Federal Reserve later today, with the Euro leading the way higher, underpinned by strong rebound in German economic sentiment.  The German ZEW Economic Sentiment rose to -22.5 in September, up from -44.1 and beat expectation of… Read More »

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18 Sept: Trend table outlook for FX, Commodities, Indices

Markets have been choppy and, with the exception of WTI, mostly without too much direction on Tuesday although the US$ is generally a little weaker, albeit within the previously defined range against all the major pairs. Today will be all about the FOMC, and ahead of that I doubt that we see too much action so there are… Read More »

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17 Sept: WTI up 15% after Saudi attack. Stocks lower, US$ firm. RBA Minutes ahead. FOMC in focus, tomorrow.

A hectic start to the week has seen oil jump by around 15% following on from the attack on the Saudi oil refinery, which has then created waves in other markets. Stocks closed down 0.5%, breaking an 8 day winning streak, while Gold spiked up by around 2% in early trade but has since given back around half… Read More »

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17 Sept: Trend table outlook for FX, Commodities, Indices

There is plenty going on ahead of tomorrow’s FOMC Meeting, with the obvious interest being in the oil price, where the medium term indicators seem to suggest still higher levels ahead for WTI. The metals have also been volatile on Monday, but at the end of the session the price action has been inconclusive and mixed, so I… Read More »

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16 Sept: Firm US data fails to inspire the US$. FOMC (Wed) in focus. BOJ, BOE, SNB all follow (Thur). China RS today.

The US$ ended Friday under some mild downside pressure, while stocks were mixed, despite some upbeat data that saw the US Retail Sales rise by 0.4% to in August, above expectations of 0.2% although the ex-auto sales rose by only 0.0% mm, below expectation of 0.1% mm. The Michigan Consumer Sentiment Index also beat expectations, coming in at… Read More »

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16 Sept: Trend table outlook for FX, Commodities, Indices

Sterling was the centre of attention on Friday and the charts suggest that it has further to run to the topside in the days ahead so looking to buy dips either against the US$ or on the crosses currently seems to be the plan. The Euro also looks slightly better bid in the medium term, while US$Jpy and… Read More »

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