12/ 06/ 2017

Week Ahead I Global Politics and Central Banks Remain in Spotlight

The U.S. Dollar posted a two-sided trade last week against a basket of currencies before closing higher for the week. The price action was spread around the globe with gains coming against the Euro and the British Pound. Three key events controlled the price action, the European Central Bank’s monetary policy decision, former FBI Director James Comey’s testimony before the U.S. Senate Intelligence Committee and the U.K. elections.

The UK election results will continue to dominate market sentiment in the upcoming days. Also on the calendar, the Federal Reserve meeting will attract investors’ attention along with BoE and BoJ meetings.

08/ 06/ 2017

Trio Super Thursday

It’s been quite the roller-coaster ride for British Prime Minister Theresa May, and it hasn’t got any easier since she called an early general election. Markets were choppy Wednesday as ECB leaks about softer inflation forecasts and higher growth hit. That was mixed in with the final UK election polls and an early preview of Comey's testimony. Thursday promises to be a rocking day in the foreign exchange market with a trio of major events. We get set.

All will be revealed, starting with the ECB. Later, the opening statement from former FBI director Comey and the final event will be the UK election that could create substantial volatility throughout the day.

07/ 06/ 2017

The Markets Fall into “Wait and See” Mode, ahead of ECB & UK Elections

Uncertainty surrounding the outcome of the UK general elections once again weighed on the British Pound. Additional downside, however, was contained by persistent greenback selling interest. The key US Dollar Index sank to 7-month lows amid growing expectations that the Fed might now opt for a more dovish monetary policy stance in wake of the recent US macroeconomic data disappointment. The buck was also being weighed down by nervousness ahead of former FBI Chief James Comey’s testimony before a Senate panel on Thursday. “

“Wait and see” seems pretty much the order of the day amid a quiet data calendar, as reports from Australia Trade Balance, US Consumer Credit Change and UK Housing Balance will be release.

06/ 06/ 2017

UK’s Election is just Around the Corner

Stocks on Wall Street opened marginally lower on Monday, backtracking from record highs in line with the weakness in European trading. While all eyes in Europe are on the UK election, the US isn’t without its own political risk ahead of the Congressional testimony of former FBI Director James Comey. Comey’s memo was responsible for the last spark of volatility in markets.

While the Dollar and the Pound take the limelight, the EUR continues its upward move towards ahead of Thursday’s ECB monetary policy decision, with stats out of the Eurozone this morning limited to April’s retail sales figures.

Today’s report will be the RBA Interest Rate Decision & Rate Statement followed by Ivey Purchasing Managers Index from Canada, and the EUR Retail Sales for the month of May.