British Prime Minister Theresa May will invoke the Article 50 of the Lisbon Treaty next Wednesday, March 29, thus formally beginning the process of exiting the European Union. more...
The US dollar ended the week on the back foot despite the upcoming rate hike. Apart from the Fed decision, we have rate decisions also in the UK and Japan, US consumer confidence and housing data, and lots more. These are the main events on forex calendar for this week. US Producer Prices: Tuesday, 12:30. Producer prices are expected to rise 0.1% this time.UK jobs report: Wednesday, 9:30. The number of new unemployed in the UK is ...
“The gap to open trading post-Brexit is thus far of the breakaway variety. The current level (slope line near 1.2800) and/or 1.2500 could inspire a ‘squeeze’ as part of consolidation before another leg lower. 1.2500 relates the 2009-2014 range (127.2% of that range from the 2014 high) and decline from 2007 (decline from 2014 = .618% of 2007-2008 decline).” 1.2800 is still the low and the outside week (last week) suggests that Cable is ...
Foreign Exchange post-Brexit Vote The RMB has depreciated ~8% from ~6.2 to ~6.7 RMB/USD in one year, weakest since Oct 2010. The risk of a resumption of capital outflows driven by expectations of near-term RMB weakening is therefore rising. The official FX reserve figures of over $3.1 trillion overstate the amount of ammunition available to defend the RMB, as $1 trillion or more of these reserves may be encumbered through forward and ...
US Dollar Forecast – USDollar Shows Little Deference to NFPs, Conviction Comes from Abroad It would seem that the Dollar had strong fundamental fuel to revive its climb this past week, but the currency made little effort to revive its post-Brexit rally. British Pound Forecast – While Brexit Makes the Waves, Carney Drives the Pound The British Pound continues to get smashed in the post-Brexit environment, with this week ...
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