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Yellen Headlines Busy Friday

We have an eventful day in store in the markets on Friday following what has been a pretty quiet week until now, with Janet Yellen headlining with her speech at Jackson Hole this afternoon. Before that though we have a number of pieces of economic data being released throughout the morning and early afternoon which […]

U.S GDP Grows Slower Than First Estimated

The U.S. economy grew less than previously reported last quarter on lower government outlays and a bigger depletion of inventories, capping a sluggish first-half performance propped up mainly by consumer spending. Gross domestic product, the value of all goods and services produced, rose at a 1.1 percent annualized rate, down from an initial estimate of […]

Coin Flip and NFP

AS the Jackson Hole fallout takes shape, it’s clear the Federal Reserve Board was attempting some measure of damage control to repair their failing report card.The Federal Reserve Boards credibility comes under the light time and time again, whether from constant misdirections or divisive policy debates that rage on in the public domain. Afte a […]

Dollar Looks for Support From Yellen

Five things the markets are talking about Capital markets will be fully focused on Fed Chair Yellen’s speech today at Jackson Hole symposium (10am EDT), looking for clues on the timing of the next Fed rate hike. Will they get it? History will say no. Her speech is titled “The Federal Reserve’s Monetary Policy Toolkit” […]

Top trade idea for August 26th, 2016 – USD/SGD

The annual meeting of central bankers at Jackson Hole is here at last. MsYellen’s set speech, entitled “The Federal Reserve’s Monetary Policy Toolkit”, may or may not attempt to move market thinking towards a faster interest rate tightening cycle. Before you say “meh”, consider the market positioning. The forward interest rate curve varies but is […]

XAU/USD – Gold Edges Lower to $1320 Ahead of Yellen Speech

Gold has posted small losses on Thursday, as the metal trades at $1321.79 in the North American session. On the release front, US durable goods reports easily beat expectations and unemployment claims dropped and beat the estimate. On Friday, the US releases Preliminary GDP and we’ll also hear from Federal Reserve chair Janet Yellen at the […]

Jackson Hole APAC Breakfast Edition

Jackson Hole APAC Breakfast Edition Today’s focus will clearly be on the Fed Chair Janet Yellen’s speech at Jackson Hole, which is scheduled to be delivered at 10 am EST. According to the Curriculum, the topic is “Designing Resilient Monetary Policy Frameworks for the Future”, which is, in itself, a rather academic-sounding piece and unlikely […]

Dollar’s Asymmetric Rally “Unlearns What We Have Learn’t”

Another quiet day in Asia ahead of Fed Governor Yellen’s speech in Jackson Hole. The USD has moved asymmetrically in last 24 hours. Rallying against some pairs and falling against other. Today we take a look at some of the most “interesting” moves and ponder whether positioning, Jackson Hole or other “forces” are at play. […]

Is the Fed setting the stage for a lower normal rate horizon?

Five things the markets are talking about Currently, the Fed is saying one thing, but the market is trading on something else. Recent official rhetoric expects a rate increase sometime this year, but the U.S yield curve is not pricing that in at the moment. In fact, the first full +25bp increase is not priced […]

Top trade idea for August 25th, 2016 – EURAUD

This EURAUD cross looks bullish as market is forming a possible head and shoulders formation that had the dip right from the potential bouncing place. This is the 5th time the pair is jumping from that area and it open the gates for a prolonged move above 1.50. Ahead of a US dollar driven event […]

WTI/USD – US Crude Slides as Crude Inventories Jump

US crude has reversed directions on Wednesday and has posted sharp losses. In the North American session, WTI/USD futures are trading at $46.75 per barrel. Brent crude futures are trading at $48.88, as the Brent crude premium has widened to $2.13. In economic news, Crude Oil Inventories surprised the markets with a strong gain of 2.5 […]

Gold Slides to 4-Week Low, Existing Home Sales Disappoint

Gold has posted considerable losses on Wednesday, as the metal trades at $1325.45 in the North American session. On the release front, US Existing Home Sales dropped sharply, posting a reading of 5.39 million. On Thursday, the US releases two key events – Core Durable Goods report and Unemployment Claims. As well, the much-anticipated Jackson Hole […]

Caution Remains Ahead of Yellen Speech

The trend of marginal moves while pushing record highs in US indices looks set to continue on Wednesday, with futures pointing to a marginally higher open on Wall Street. This week in particular there has been a keen focus on the Jackson Hole Symposium, at which Federal Reserve Chair Janet Yellen is scheduled to speak. […]

South African Rand Slammed!

The South African Rand (Zar) plunged 3.5 % as news emerges of a police summons and a separate investigation of the Finance Minister by tax authorities. The South African Rand (ZAR) collapsed 3.5 % against the USD in a matter of minutes during the New York session. Moving from 13.50 to 14.05 before settling in […]

WTI/USD – Crude Rebounds to $48 on Sharp Housing Report

US crude has posted gains on Tuesday, reversing directions after sharp losses on Monday. In the North American session, WTI/USD futures are trading at $48.05 per barrel. Brent crude flirted with the $50 level earlier on Tuesday and is currently trading at $49.84. Currently, the Brent premium stands at $1.79. In economic news, the Richmond Manufacturing Index […]

XAU/USD – Gold Steady as US Posts Mixed Numbers

Gold has edged higher on Tuesday, as the metal trades at $1342.26 in the North American session. On the release front, the Richmond Manufacturing Index came in minus -11, well short of expectations. US New Homes Sales sparkled with a gain of 654 thousand, well above the forecast of 575 thousand. On Wednesday, the US […]

The Waiting Game : Jackson Hole

USDJPY Traders have been reticent overnight with the currency mired in tight ranges. BOJ stimulus talks versus the Fed dovishness outlook: Traders are stuck in limbo, aware that there is some BOJ uncertainty on how they will deal with a strengthening Yen; while the near-term Fed outlook is equally clouded, not the best landscape to […]

Big Dollar Not So Mighty

Five things the markets are talking about With investors reluctant to place large directional bets ahead of the Jackson Hole address by Fed chair Yellen this Friday has asset price moves remaining somewhat contained. Despite this, the ‘mighty’ dollar is beginning to look a tad sicklier ahead of this morning’s U.S open. With the lack […]

Top trade idea for August 23rd, 2016 – USD/NOK

On the 4h chart of crude oil we can see that price made a nice rally from the lows, for now in three waves but because of strong bullish momentum with sharp price action up to 161.8% Fibonacci ratio, we believe market made wave 3) as part of a bullish impulse. That said, current downward […]

WTI/USD – Oil Slides, Markets Eye Yellen Speech

US crude has posted sharp losses on Monday. In the North American session, WTI/USD futures are trading at $47.70 per barrel. Brent crude is trading just shy of the $50 level, at $49.41. Currently, the Brent premium stands at $1.71. In economic news, there are no US releases on the schedule. On Tuesday, we’ll get […]