• Scope for short covering in EUR/USD - SocGen Link
    ForexLive Thu 18 Apr 2019 14:23

    Societe Generale Research discusses EUR/USD outlook, and still sees a scope for limited near-term gains on short-covering. 

    "The euro is cheap for good reason (little growth, negative rates) and the dollar is expensive for equally good reason (higher rates and more growth). While the G2 currencies are locked in place, central bankers are making sure that a repeat of 2008 is delayed and supporting global asset prices more than global growth. That's going to end (badly) in due course but for now, using negative-rate currencies to fund longs in (slightly) higher-yielding ones continues to pay dividends," SocGen notes. 

    "The planet is long USD. The FX market is now long the US dollar across the board, and dormant volatility makes the space seem threateningly quiet. Speculators have amassed their biggest EUR shorts since 2016, suggesting imminent short covering, but leading to a bounce of only limited amplitude. AUD and CHF have reached more...

  • The S&P and Nasdaq in the red now Link
    ForexLive Thu 18 Apr 2019 14:13
    The gains in the S&P and the Nasdaq have eroded. There is no real news. Data today started strong with the retail sales and jobless claims stronger than expectations, but the Markit PMI data was weaker.  
  • USDCHF moves to the highest level since March 2017 Link
    ForexLive Thu 18 Apr 2019 14:08
    Looking at the 4 hour chart, the pair is moved aboved a channel trend line at 1.0103 currently.   That level, and the 1.0092-97 will be levels to get below to weaken the technical bias.
  • US February business inventories +0.3% vs +0.4% expected Link
    ForexLive Thu 18 Apr 2019 14:03
  • Lowest since March 2017 Link
    ForexLive Thu 18 Apr 2019 13:48

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  • Markit US April prelim services PMI 52.9 vs 55.0 expected Link
    ForexLive Thu 18 Apr 2019 13:48
    USD/JPY has ticked a bit lower on the headlines, down to 111.88 from 111.95. That's hardly the kind of move to get the blood moving but the data adds to the confusion about the US economy, especially after today's retail sales number was upbeat.
  • Canadian TSX Composite index hits all-time high
    ForexLive Thu 18 Apr 2019 13:48
  • US stocks open mixed. Dow leading the way higher. Nasdaq marginally lower. Link
    ForexLive Thu 18 Apr 2019 13:38
  • US stock futures point to recovery from Wednesday's declines Link
    ForexLive Thu 18 Apr 2019 13:33
  • USDJPY moves higher on data but not much higher Link
    ForexLive Thu 18 Apr 2019 13:28
    The USDJPY moved higher on the back of the better data today (claims and Retail sales). The price moved to a London session high at 112.02 from 111.87 before the number, but it currently trading at 111.92. So the pair is not running.  
  • Canada delays Trans Mountain pipeline decision by a month Link
    ForexLive Thu 18 Apr 2019 13:23
    Canada has major pipeline export problems. The country produces more oil than it can move and that's created major problems. Late last year Canadian oil was trading at a $52 discount to WTI and that forced the province of Alberta to mandate a 250K bpd production cut.
  • GBPUSD challenges the 1.3000 level Link
    ForexLive Thu 18 Apr 2019 13:13
    The GBPUSD is challenging the 1.3000 level (EURUSD moves to new low too). The pair moved below the 1.3000 earlier today and also back on April 5th when the low for the month was reached at 1.2986, but it quickly snapped back.   
  • EURUSD continues move lower after better US data Link
    ForexLive Thu 18 Apr 2019 12:53
    The EURUSD moved to a new session low after the better than expected US retail sales and jobless claims data. THe pair moved to a low of 1.12373. That was just ahead of the 61.8% retracement of the April low to high trading range at 1.12367.  The current price is back up to 1.1243.
  • China said to lose market-economy trade case at WTO - report Link
    ForexLive Thu 18 Apr 2019 12:53
  • US weather forecaster CPC forecasts higher US temperatures in May-June-July for most of country. Natural gas flat today.
    ForexLive Thu 18 Apr 2019 12:48
  • Canada March ADP employment +13.2K vs +36.2K prior Link
    ForexLive Thu 18 Apr 2019 12:33
  • April Philly Fed +8.5 vs +11.0 expected Link
    ForexLive Thu 18 Apr 2019 12:33
  • Initial jobless claims 192K va 205K estimate Link
    ForexLive Thu 18 Apr 2019 12:33
  • Canada February retail sales +0.8% vs +0.4% expected Link
    ForexLive Thu 18 Apr 2019 12:33
  • US retail sales for March 1.6% vs 1.0% estimate Link
    ForexLive Thu 18 Apr 2019 12:33
    retail sales are stronger than expected at 1.6% versus 1.0% estimate. Prior month -0.2% (unrevised)retail sales ex auto 1.2% vs 0.7 estimate. Prior month revised 2-0.2 from -0.4% previouslyEx auto and gas 0.9% versus 0.4% estimate.  Prime wants revised 2-0.7% from -0.6%retail sales control group 1.0% versus 0.4%. Prior month revised to -0.3% from -0.2%
  • The JPY is the strongest and the NZD is the weakest as NA traders enter for the day Link
    ForexLive Thu 18 Apr 2019 12:28
    As NA traders enter for the day, the JPY is the strongest and the NZD is the weakest. The USD is mostly higher as flight to safety flows lead after No. Koreas missile test, anxiety about the Muelller report, weaker data in Europe. There is a boat load of data out at the bottom of the hour.
  • Positive economic commentary. Link
    ForexLive Thu 18 Apr 2019 12:13

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  • Busy calendar coming up ahead of the long weekend Link
    ForexLive Thu 18 Apr 2019 12:08
    The North America consumer is in focus as we wrap up a holiday-shortened week. There will be no lack of news and economic data starting with both US and Canadian retail sales at the bottom of the hour. The market is especially focused on spending at the moment and signs that consumers are tapped out or if they can reach in their pockets to spur growth again.
  • Putin, Kim Jong Un set to meet in Russia later this month Link
    ForexLive Thu 18 Apr 2019 11:38
    The rumours of them potentially meeting has been doing the rounds since the start of the week but it looks like the green light has been given now. The report says that the two leaders will meet in the second half of this month in Russia. The exact details are yet to be divulged it would seem.
  • BOJ said to predict inflation falling short of its target for the next three years Link
    ForexLive Thu 18 Apr 2019 11:18
    BOJ to predict inflation falling short of 2% through fiscal year 2021BOJ likely to project inflation to move above 1.5% in fiscal year 2021BOJ may slightly cut economic growth, inflation forecasts for fiscal year 2019
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