- Overnight: After a stellar week for the Japanese Yen we are finally seeing a mild break, with the JPY crosses paring some of its gains across the board.
- Elsewhere, commodity-linked currencies took advantage of an overnight WTI crude rally.
USD: The Buck is, fundamentally, the strongest currency. However, global outlook seems to be forcing the Fed to scale back on their original plan of hiking rates 4 times this year.
More recently, dovish FOMC Minutes gave investors a fresh reason to short the Greenback.
Current Sentiment: Neutral
Recent News: ⬇️ (Dovish FOMC Minutes)
EUR: The Euro is a weak currency, at the moment, with the ECB trying everything in its power to lower its exchange rate. Global turmoil, however, might keep the single currency rallying on safe-haven flows.
A recent dovish Fed has been putting terror events have put upward pressure on the Single Currency.
Current Sentiment: Neutral
Recent News: N/A
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USD: The Buck is, fundamentally, the strongest currency. However, the global outlook seems to be forcing the Fed to scale back on their original plan of hiking rates 4 times this year.
EUR: The Euro should be a weak currency at the moment, with the ECB trying everything in its power to lower its exchange rate. Global turmoil, however, might keep the single currency rallying on safe-haven flows.
GBP: The Pound is not as bad as it seems, at least by comparison, with the BoE members constantly stating that their next move should be a hike. Brexit, however, seems to be a point of concern, dragging the Sterling to multi-year lows. Continue reading “FX Fundamentals: #USD #EUR #GBP #JPY #CHF #CAD #AUD #NZD | March 14th”
The Non-Farm Payrolls is expected to come higher (195K) than the previous (151K). A print above 245K would be considered high; bellow 70K would put downward pressure on the Buck.
Average Hourly Earnings are expected to shrink to 0.2% from 0.5%. A read above 0.5% would be considered high; bellow 0.0% low.
Credit Suisse advises buying EUR/USD into the March 10 ECB meeting and sticks to its 3-month forecast of $1.17. It sees risks of a re-run of December, when the ECB’s 10 basis point rate cut was deemed small compared to what the market had expeceted. The “wide range” of measures being talked about recently in addition to expectations of another rate cut “shows how much hope for ECB innovation the market is running with”, it says. “The interesting thing now … is that the actions the ECB needs to take to beat expectations need to be even more spectacular than they were in December,” says Credit Suisse. (email@example.com)
This article originally appeared at TradeQQ.