Submitted May 17, 2013|From forexblog.oanda.com

It seems that every time that Capital markets start to feel optimistic this so-called US recovery disappoints. Yesterday’s disappointing US data (weekly claims, Philly Fed and housing starts) are renewing the debate whether tapering Fed bond buying ...

Submitted May 16, 2013|From forexblog.oanda.com|2 comments

Is it really the best of a bad lot? Even disappointing PPI and manufacturing data yesterday suggests that the US recovery is somewhat uneven. So far this has not been able to stall the ‘mighty’ dollar’s rally. The dollar bull continues to rely on ...

Submitted May 15, 2013|From forexblog.oanda.com|2 comments

The recent outperformance of the US economy has the dollar appreciating against most currencies over the past week. Some of the current price levels have a percentage of the market beginning to price in expectations of a “secular USD bull market.” ...

Submitted May 14, 2013|From forexblog.oanda.com

The increase in the volume of commentary from Germany as to how uncomfortable they are becoming to ECB’s monetary policy stance is certainly more noticeable – Germany is clearly against further ECB stimulus. Chancellor Merkel and some of her policy ...

Submitted May 13, 2013|From forexblog.oanda.com

Now what? The FX market has got what it been coveting for many months, albeit a few weeks earlier than originally planned – USD/Yen trading north of the psychological 100 print. The pair, currently meandering through ‘no-mans territory’ is more ...

Submitted May 10, 2013|From forexblog.oanda.com

In a bearish frenzy, the 17-member single currency remains somewhat under pressure this morning, slicing through a different handle, while contemplating testing longer-term support levels well below the sub-1.30 level. The question remains, will ...

Submitted May 9, 2013|From forexblog.oanda.com

The Spanish bond auction has had a sting in the tail for the single currency, pushing it down to new overnight lows heading into the North American session where US jobless claims takes top billing. Despite the Spanish issue going well, the 'street' ...

Submitted May 8, 2013|From forexblog.oanda.com|5 comments

It’s difficult to get excited about this market, especially when investor forex enthusiasm seems to be waning. Mind you, the lack of intraday data is not helping the situation as stakeholders migrate over to the record-breaking ‘equity’ class. With ...

Submitted May 7, 2013|From forexblog.oanda.com|12 comments

If we did not have the Aussies, the RBA, or Governor Glenn Stevens, this would have been another bland and boring market to be talking about. Policy makers down-under certainly know how to surprise it seems, as very few analysts had predicted any ...

Submitted May 6, 2013|From forexblog.oanda.com|3 comments

Historically, the first Monday after non-farm-payroll usually ends up being the quietest trading day of the month – and this Monday morning is threatening to continue on that tradition. With the various bank holidays and festivals being honored ...

Submitted May 4, 2013|From forexblog.oanda.com

The ECB did not need to take on any additional, more aggressive stimulus this week – instead they had Draghi mouthing deposit rates and negative yields. In the end it had the same impact as an aggressive cut – the single currency happened to plummet ...

Submitted May 3, 2013|From forexblog.oanda.com|1 comment

The Yen bears will take anything – at this point they do not really care. After a month of struggling to break the psychological ¥100 barrier, the bears must now feel more confident after Friday’s NFP print that another positive US data print over ...

Submitted May 3, 2013|From forexblog.oanda.com|1 comment

Draghi’s loose lips yesterday plunged the 17-member single currency through a three-cent handle before a bottom was found. The uttering of negative deposit Euro rates attempted to temporarily cripple the single currency ahead of this morning highly ...

Submitted May 2, 2013|From forexblog.oanda.com|2 comments

A sure thing is always a dangerous bet and more so when it’s in reference to the ECB. However, it’s widely expected that that they will cut the benchmark interest rate by -0.25% to +0.5% this morning while keeping the deposit rate unchanged. The ...

Submitted Apr 26, 2013|From forexblog.oanda.com|4 comments

EUR/USD is trading quietly in Friday’s European session, as the pair trading in the low-1.30 range. There is growing speculation that the ECB will lower interest rates at next week’s policy meeting, and this could certainly affect the movement of ...

Submitted Apr 23, 2013|From forexblog.oanda.com|1 comment

It seems that owning the dollar is again fashionable – the market is back to “buying dollars, wear diamonds” thanks mostly to risk-averse signals from commodities gaining traction after weak German and Chinese PMI’s this morning. The greenback is ...

Submitted Apr 22, 2013|From forexblog.oanda.com

Last week’s two-day G20 meeting ended up running “true-to-form” – Japan was left alone, again allowing short yen positions to dominate positioning. In fact, the member nations seemed less concerned about currency wars and sovereign debt blowouts and ...

Submitted Apr 20, 2013|From forexblog.oanda.com|1 comment

Despite the mass fallout in commodity prices this week, the loonie has traded in a well-contained range. It has been trading like a currency that time forgot, unlike its partner in crime the AUD down-under. Even the IMF warning that the Aussie is ...

Submitted Apr 19, 2013|From forexblog.oanda.com

Next week is not expected to be as dramatic as this one. Investors were entertained by a commodity market that witnessed mass liquidation and by Friday found gold prices in the mid-point of its weekly range. The price action rebound probably had ...

Submitted Apr 19, 2013|From forexblog.oanda.com|17 comments

This has certainly not been a dull week in Capital Markets. The intraday investor has been exposed to just about everything. As of Friday, we have a commodity market that is telling the investor that global growth is slowing. A U.S equity market ...