The USD is mixed As North American traders enter for the day, the forex market is cautious and relatively quiet. The NZD is the strongest and the CHF is the weakest but all the major currencies are relatively scrunched together. The biggest % mover is the NZDCHF with a 0.32% move (higher in the pair). […]
Blogs
Cable slips to test key near-term levels as BOE Saunders reaffirms dovish take
Saunders argued that it is better for the BOE to ease too much than too little See here for global coronavirus case data There was no major mention of negative rates, but Saunders pretty much confirmed more QE to follow at the June meeting with scope for further stimulus measures should they be needed, whilst […]
Major currencies a little indecisive so far on the session
The dollar firmed slightly only to give back that little bit of gains again See here for global coronavirus case data Overall, there is little change in the major currencies space once again at the moment.
Dollar keeps a little firmer on the session
Dollar advances slightly across the board See here for global coronavirus case data The dollar is pushing a little higher on the session, with EUR/USD falling back just under 1.1000 for now with the kiwi also erasing its earlier gains against the greenback currently.
EUR/USD faces key test to stay above 1.1000
Can euro buyers make do with hopes of a EU recovery fund compromise? See here for global coronavirus case data The pair is certainly looking poised, keeping above 1.1000 in trading so far today but the challenge now is to try and hold a break above the 200-day MA (blue line) @ 1.1012 as well.
Fed's Daly says US unemployment is astoundingly high
Federal Reserve Bank of San Francisco president Mary Daly speaking in an interview – Fiscal 'bridge' needs to be longer to get through the coronavirus crisis
ICYMI – BoE's Saunders sees no recovery for the UK economy in the next 2 to 3 years
Bank of England Monetary Policy Committee (MPC) Michael Saunders spoke overnight, Justin had the info as it happened: Saunders was only one of the two MPC members who voted to increase the BoE QE program this month. He emphasised yet again he wants to do more given the dire outlook he has for the economy:
Fed's Kaplan: US economy has bottomed, expects growth in H2
Comments from the Dallas Fed President: Comments in an interview with Reuters. Harker also spoke but didn't talk about the economy. Unemployment is forecast to rise to nearly 20% in next month's non-farm payrolls report. That's double the financial crisis but it look 3 years to get back to 7% and Kaplan is predicting a […]
Williams: Doesn't see Fed actions overheating the economy
Comments from NY Fed President John Williams: There's nothing new here and it all underscores the optimism (dare I say complacency?) about the reopening and return to normal.
Poland cuts benchmark interest rate to +0.10% from +0.50% in surprise move
Unexpected move from Poland's central bank None of the 24 economists in the Bloomberg survey were forecasting a cut. See here for global coronavirus case data