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  • Article / Monday at 9:17 GMT

    FX Update: Volatility keeps slip-sliding away

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: Volatility keeps slip-sliding away
    The US dollar still hasn’t been able to mount a credible correction as the post-FOMC rally fizzled quickly on Friday to shift the outlook back to tactically neutral. Looking ahead, what can shake this market out of its complacency and generate volatility?
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  • Squawk / 13 June 2017 at 8:34 GMT
    Head of FX Strategy / Saxo Bank
    Denmark
    NOK and SEK on the rise. The Scandies catching a strong bid today on a couple of supportive developments. First was the Swedish May CPI report, which report both headline and core inflation at higher than expected levels (+1.9% YoY for the core vs. +1.7% expected and +2.0% in Apr.). This suggests the Riksbank may be a bit more comfortable easing away from its hyper-dovish stance, especially as the ECB dovish stance is finally beginning to thaw, however marginally. Coming as it did with the SEK at the weakest levels for the recent cycle, the EURSEK and USDSEK drops today came at interesting respective resistance levels and could see more downside from here.

    NOK, meanwhile, was bid after the Norges Bank's Regions survey posted today showed the output outlook at the highest since early 2013.
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  • Calendar event / 09 June 2017 at 6:00 GMT

    NO CPI

    forecast
    actual
    High CPI, M/M%
    +0.2%
    High CPI, Y/Y%
    +2.1%
    Med CPI-SA, After Tax, Excl Energy, M/M%
    +0.3%
    +0.3%
    Med CPI-SA, After Tax, Excl Energy, Y/Y%
    +1.6%
    +1.6%
  • Article / 06 June 2017 at 8:06 GMT

    FX Update: JPY takes charge

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: JPY takes charge
    The Japanese yen has blasted stronger across the board in this odd environment of lower bond yields and high complacency. But the focus this week is on a trio of significant events on Thursday: the UK election, a pivotal ECB meeting, and testimony to the US Senate from former US FBI director Comey.
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  • Article / 16 May 2017 at 7:53 GMT

    FX Update: USD sinks again on fresh Trump trouble

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: USD sinks again on fresh Trump trouble
    US President Donald Trump is proceeding with his bull-in-a-china-shop act and keeping the US dollar under pressure as we await US housing data today. Elsewhere, the resurgent euro is pressing higher across the board and oddly so in an environment of strong carry trade tailwinds and surging EM currencies.
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  • Calendar event / 16 May 2017 at 6:00 GMT

    NO GDP

    forecast
    actual
    High GDP, Q/Q%
    +0.5%
    +0.6%