Dollar Drops as Powell Said Uncertainties Continue to Weigh on Outlook, Testimony Awaited

Dollar drops notably in response to Fed Chair Jerome Powell’s prepared remains for the two day Congressional testimony which starts today. The greenback is currently the weakest one for today, followed by Yen and the Canadian. On the other hand, New Zealand Dollar is the strongest one, followed by Swiss Franc and then Sterling. Traders […]

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Dollar Stays Firm ahead of Fed Powell’s Testimony, UK GDP & BoC Watched Too

Dollar remains the strongest one for the week even though upside momentum is diminishing today. The single most important factor for Dollar’s next move is whether Fed would cut interest rate at this month’s meeting. A 50bps cut is basically priced out by the markets, but futures still indicate 100% chance of a 25bps cut. […]

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Dollar Stays Firm as Fed Powell Offers No Rate Clue Yet, Sterling Weak

Dollar, Swiss Franc and Yen remain the strongest ones for today. Risk aversion mode was turned on in European session and is carried forward to US session. Investors are turning cautious as expectation for Fed rate cut this month is being adjusted. Fed Chair Jerome Powell didn’t comment on monetary policy today, and is saving […]

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CFTC Commitments of Traders – Bulls Outweighs Bears in Canadian Dollar’s Outlook

For that first time since March 2018, CAD futures recorded NET LENGTH of 6 293 contracts, as suggested in the CFTC Commitments of Traders report in the week ended July 2. Recent bullish sentiment about the loonie has been driven by policy divergence. While the Fed is widely expected to lower its policy rate this […]

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CFTC Commitments of Traders -Traders Bet Higher Crude Oil Price ahead of OPEC+ Meeting. Net Length Likely Drops in the Coming Week

According to the CFTC Commitments of Traders report for the week ended July 2, NET LENGTH for crude oil futures rose +14 007 contracts to 392 810 for the week. Speculative long positions jumped +16 239 contracts and shorts added +2 232 contracts. Crude oil prices continued recently ahead of OPEC+ meeting. Prices retreated after […]

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Australian Dollar Softer on Weak Business Confidence and Chinese Stocks

Following mild pull back in US equities overnight, Asian markets are mixed. Though, apparent weakness in China and Hong Kong stocks are dragging down Australian Dollar, which is the weakest one for today so far. Sterling is the next weakest as data showed retail sales suffered the worst June in decades. Dollar, Euro and Yen […]

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Euro Lower on Deteriorated Eurozone Investor Confidence

Euro trades broadly lower today as investor confidence deteriorated further despite slightly easing US-China trade tensions. German 10-year yield also weakens again following weaker investor sentiments, as German lender Deutsche Bank AG started its most aggressive restructuring and layoff. Sterling and Yen are also among the weakest ones. On the other hand, New Zealand Dollar […]

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Dollar Paring Gains as Focus Turns to Fed Powell’s Testimony and FOMC Minutes

Asian markets tumble broadly, partly as reactions to Japan’s export controls on certain Korean semiconductor materials. Also, the weakness is partly due to adjustment in expectations on Fed’s rate cut this month, after Friday’s solid US job data. Though, the currency markets are steadily mixed. Yen is one of the strongest among Australian and New […]

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Markets Still Believe in a July Fed Cut, But Powell Has the Last Chance to Correct It

Major global treasury yield tumbled sharply last week on expectations of policy easing by central banks. In particular, ECB Governing Council member Olli Rehn issued panic call for further monetary stimulus “now”. German 10-year bund yield hit as low as -0.407, below ECB’s -0.40% deposit rate. UK 10-year gilt yield also dropped to as low […]

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