USD/CNY fix projection: 6.3719 – Nomura

Analysts at Nomura offered their model’s projection for today’s fix in USD/CNY. Key Quotes: “Our model1 projects the fix to be 133 pips lower than the previous fix (6.3719 from 6.3852) and 169 pips lower than the previous official spot USD/CNY close of 6.3888. The basket implied change is 219 pips lower than the previous […]

USD/JPY: bulls eye 112.20 while bears eye the 200-D SMA

USD/JPY: stuck around 111 the figure in between break outpoints. USD/JPY: Bank of Japan Governor Kuroda will be in the Japanese parliament today. USD/JPY has been parked around 111 the figure and between a low of 110.92 and 111.05 highs, currently trading at 110.92 at the time of writing.  USD/JPY penetrated 111 the figure on the trade […]

Fed members sounding curiously cautious – Westpac

Influential Fed centrists Williams (soon to be NY Fed President) and Dallas President Kaplan last week reiterated an upbeat message for 2018 but sounded curiously cautious thereafter.  Key Quotes: “Kaplan cautioned that the tax boost would fade in 2019, slowing growth to 1.75%-2.0% in 2020, putting him at the lower end of the central tendency.” […]

North Korea summit on ‘shaky ground’ – Reuters

As reported by Reuters, US President Trump is will be meeting with South Korean leader Moon Jae-in in an attempt to apply pressure ahead of the now-tentative US-North Korea summit. Key quotes “Moon’s White House visit was originally arranged as a meeting to fine-tune a joint strategy for dealing with North Korean leader Kim Jong […]

AUD/JPY reclaims 84.00 on broad market recovery

Aussie takes a ride higher as markets recover on trade talk cool-down. Tuesday brings little action to the table with nothing slated for the data dockets. The AUD/JPY pair is trading near 84.15 in the overnight session, after lifting steadily on Monday. The Aussie was one of the big winners in the broad-market recovery for […]

German economy is on an upswing – German Finance Ministry

In their monthly report, the German Finance Ministry is presenting a bullish outlook, optimistic that the first quarter’s contraction is coming to an end. Key highlights The German Finance Ministry noted that the German economy is in a strong ‘upswing’, even though 2018’s first quarter performance was worse than late 2017, as output clocked in […]

US Fed’s Kashkari: slack might still be in economy

Minneapolis Federal Reserve resident Neel Kashkari gave some comments during a Q&A session where he highlighted the economy’s potential slack as wages remain supressed. Key highlights The labor market might still have some slack in it. Wages growth still hasn’t picked up. The economy must be allowed to continue to strengthen. Kashkari is watching the […]

GBP/USD to recovery more than EUR/USD – AmpGFX

Greg Gibbs, Founder, Analyst, & PM, amplifying Global FX Capital Pty Ltd explained both the EUR and GBP have taken a beating in the last month.   Key Quotes: “The EUR is near key support and may recover somewhat as risk aversion related to Italy eases and Q2 economic reports recover.   However, we see the bounce as […]