Strength Returns to USD Ahead of FOMC

Strength returned to the US last week, despite a blip upon the announcement that a doctor had tested positive for Ebola in New York. The dollar quickly dropped across the board as investors favoured the safe haven Japanese Yen, however USDJPY soon recovered during late trade on Friday. The FOMC will meet on Wednesday evening where they are expected to announce the end of QE, opening the doors for the first hike in interest rates after cutting rates to record lows of 0.25% throughout the financial crisis.

Kiwi remains relatively bearish ahead of the RBNZ Statement

Slumping to a low of 0.7792 when valued against its US Counterpart on Friday the broader outlook for the Kiwi remains relatively bearish ahead of the RBNZ Monetary Policy Statement this Thursday. Whilst widely expected to maintain its benchmark cash rate the accompanying statement will be cast under the microscope especially given signs of subdued price pressures.

Euro has returned to 1.2700 high after the stress tests came in as expected

​​The Euro had a relatively quiet session on Friday but did manage a squeeze up to 1.2695 ahead of the weekend’s banks stress tests, after a leaked report suggested an improvement on the 2013 outcome, when 25 banks failed the tests. In early trade on Monday, the Euro has returned to a 1.2700 high after the stress tests came in pretty much as expected – Currently at 1.2680 in pre-retail market.

Economic Indicator News »

Bank's Business Confidence in Australia unchanged

The NAB in Australia reported that Bank's Business Confidence during third...

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6

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6

Economic Indicator News »

Manufacturing Index in China came better than expected

The HSBC Manufacturing Purchasing Managers Index (PMI) released by the Markit...

Actual

50.4

Forecast

50.3

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50.2

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Fundamental

Euro has returned to 1.2700 high after the stress tests came in as expected

​​The Euro had a relatively quiet session on Friday but did manage a squeeze up to 1.2695 ahead of the weekend’s banks stress tests, after a leaked report suggested an improvement on the 2013 outcome...


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Technical

Euro turned lower once more after Mario Draghi

​​Having squeezed a little higher to reach 1.2715 on Friday, the Euro turned lower once more, finishing the week near its session lows of 1.2609 after Mario Draghi reiterated that the EZ economic...