Market News

The dollar index is pushing lower after the President’s State of The Union Address did little to give any concrete direction for the U.S. economy and focused more on what he believes was personally accomplished and the U.S. immigration policy.  U.S. dollar month end selling remains prevalent with EUR/USD looking to test 1.2500 and GBP/USD

The DXY continues to trade sideways but has turned lower in the European session as EUR & GBP lead the assault on the dollar with both currencies having 100+ point moves higher from their low water mark in Asian markets. Large USD sales are anticipated with month end equity portfolio rebalancing flows coming to market

A quiet beginning to the week as Davos has ended and no significant data releases are due out until Tuesday evening when Australian inflation numbers will be released.  The week begins to heat up on Wednesday with the FOMC rate statement, where no hike is anticipated, UK manufacturing data on Thursday & U.S. non-farm payrolls

Volatility remains high after Trump’s “strong dollar” comments contradicted the Treasury Secretary’s “weak dollar” bomb dropped the day before.  Sterling, yen & euro are sitting halfway between the extremes of levels reached after each headline as we await this morning’s U.S. GDP & durable goods data as well as any more headlines emanating out of

The dollar index remains under pressure after breaking below key support at 90.00 and now targets channel support at 86.80 (see chart).  Momentum indicators are warning of oversold conditions but with headlines & emotion dominating trading, technical and fundamentals are taking a back seat at the moment.  The ECB has left rates unchanged as the

The U.S. dollar is broadly weaker after United States Secretary of the Treasury Steve Mnuchin said the U.S. is “open for business” and welcomed a weaker dollar saying that it would benefit the country.  Speaking at a press conference during the World Economic Forum being held in Davos he also was quoted as saying the

The dollar index continues to trade in a sideways fashion but whippy movements in several G10 currencies continue to exacerbate the market psyche with major events such as German Coalition talks, U.S Government shutdown/reopening & the BoJ rate decision having come and gone.  While no major surprises came to fruition, the market’s susceptibility to headlines

The DXY remains near its recent lows after posting an outside day yesterday which means it traded above the high & below the low of the previous day’s session.  Technically speaking this often indicates the end of a current trend which, in the DXY’s case, was lower.  With long term trend line support a mere

With no other significant data releases, speeches or meetings on tap today it’s all about the Bank of Canada announcement at 10AM EST.  Expectations are for a rate hike of 0.25% and the tone of their Monetary Policy Report, which will be released simultaneously, is going to be just as important as the rate decision.