FX Alerts

CHINA HSBC MAY FLASH MANUFACTURING PMI

China HSBC May flash manufacturing PMI new orders sub-index falls to 8-mth low of 49.5 AUDUSD falls after the announcement of China data.
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23/05/2013 @ 01:52 GMT

Dollar weaker post Bernanke

The dollar weaker on the back of the headlines ahead of US Fed Chairman Bernanke's testimony today. The one that weakened the dollar was the reference to a premature tightening of rates. He said " A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further". The dollar weakened because there has been growing talk of a scaling back of the pace of asset purchases undertaken by the Fed every month.
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22/05/2013 @ 14:15 GMT

Split fortunes for FX ahead of Bernanke

The surprise fall in UK retail sales data and latest MPC minutes were the impetus for the sterling move. The euro appears once again to be benefiting from weakness in the yen. For some, the divergence between central bank balance sheets in Japan (expanding) and the eurozone (contracting) makes EURJPY the better means by which to short the yen.
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22/05/2013 @ 10:22 GMT

Cable softer on MPC minutes

GBPUSD around 40 pips lower to 1.5090 after minutes to May BoE meeting show 3 members still voting for more QE. EURGBP to 0.8574. Retail sales fell 1.4% in April according to data released at the same time.
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22/05/2013 @ 08:35 GMT

Sterling down on weaker CPI data

GBPUSD down 35 pips to 1.5190 after better than expected CPI data, headline rate now 2.4% and first time for nearly a year that inflation better than expected.
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21/05/2013 @ 08:36 GMT

Australia Central Bank

Australia's central bank felt it needed to cut interest rates at its May meeting because the economy was still growing at a below-potential pace and inflation was not a threat. Yet minutes of the Reserve Bank of Australia's May 7 meeting revealed that board members were keenly aware that past rate cuts are still working through the economy.
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21/05/2013 @ 01:34 GMT

The waiting game

A predictably slow start to the week in FX markets. There are no major market moving data releases scheduled for today, with the market waiting for Wednesday. On this day, the minutes to the latest Fed meeting in the US will be released and the Fed Chairman Bernanke also speaks to Congress. As we mentioned in the Daily Brief, the market is becoming more sensitive to talk of a possible slowdown in the pace of asset purchases from the Fed, but we don't see this happening this until late summer at the earliest.
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20/05/2013 @ 12:12 GMT

Gold - Silver

Gold revisits the low of previous month and the same time Silver plunges to 20.15.
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19/05/2013 @ 23:08 GMT

USDCAD above 1.03

USDCAD 20 pips higher and above 1.03 on back of CPI, which showed annual rate falling to 0.4% (from 1.0%). The market was looking for a 0.6% outcome, with the core rate also a touch better than expected at 1.1% (from 1.4%). EURUSD down to 1.2820, with a number of stops taken out just ahead of the Canadian figures.
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17/05/2013 @ 12:37 GMT

NZDUSD at 6 months low

NZD falls vs peers. NZDUSD drops to 0.80901 (6 months low)
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17/05/2013 @ 02:28 GMT

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