News

What’s coming up There are a few notable economic releases in the US tomorrow: Weekly initial jobless claims (another 2.1m claims expected) April prelim durable goods orders The second look at Q1 GDP (exp -4.8%) Weekly US oil inventories (delayed a day because of the holiday) Pending home sales for April There hasn’t been a
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Trade idea from TD Securities The weekly FX pick from TD Securities is to buy CHF/JPY at spt with a target of 113.25 and a stop at 109.75. “This week brings the month-end, which should shape the action. Our month-end rebalancing model is bullish CHF and bearish AUD, JPY and EUR,” they note. “Given the
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
JPMorgan on what’s coming next The combination of massive fiscal and monetary stimulus will lead to currency debasement and the winner will be gold prices, according to a report from JPMorgan. Gold is down $27 to $1720 today after hitting an 8-year high at the start of the week. The weakness today comes after it
Via Bloomberg  had come after Deputy Governor’s Bescand had told banks to be ready for negative interest rates by year end. However, rates traders have taken a different view.  The two year swap fell on Wednesday and did not rally higher with the NZD. The swap rate is keeping a downward bias in place for the
This piece from analysts in Singapore at S&P Platts is well worth checking out. Australia-China tension in the past week, China suspended Australian beef imports and placed tariffs on Australian barley “This move to put tariffs on Australian barley is an escalation, clearly linked to Canberra’s advocacy for an international inquiry into the origins of
The news that China was to impose an import tariff on Australian barley broke back on May 10  The tariff imposition has been announced in a statement from China’s Ministry of Commerce anti-dumping tariff would be 73.6 per cent while the anti-subsidy tariff would be 6.9 per cent will remain in place for five years This
Trade of the week from Mitsubishi UFJ MUFG recommends selling NZD/RUB from 43.900 with a target of 43.00 and a stop at 44.30 in its weekly FX pick. “We are recommending a short NZD/RUB trade idea. Downside risks for the NZD have opened up in the near-term after the RBNZ almost doubled plans for QE