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  • Squawk / Yesterday at 22:39 GMT
    -
    United Kingdom
    W13 #FX weekly technical sentiment:
    #AUDCHF ▲
    #CHFJPY ▼
    #EURAUD ▼
    #EURJPY ▼
    #GBPCAD ▲
    #GBPNZD ▲
    #NZDUSD ▼
    #USDCAD ▲
    #CADJPY ▼
    #NZDJPY ▼
    #AUDCAD ▲
    #AUDNZD ▲
    #GBPCHF ▲ (CONTRARIAN)
    #USDCHF ▲ (CONTRARIAN)
    #EURGBP ▼(CONTRARIAN)
    #EURUSD ▼(CONTRARIAN)
    #MOFuturesFX
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  • Squawk / Yesterday at 20:45 GMT
    Managing Director / Technical Research Limited
    New Zealand
    “We’re going to be living with Obamacare for the foreseeable future” said Speaker Paul Ryan after President Trump’s repeal & replace bill failed to get the 216 votes needed. Markets were unperturbed, with only minor losses in stocks. Bonds and USD were steady.

    Trump will now turn his attention to other parts of his agenda such as calling out “Currency manipulators”.

    Last year the Swiss National Bank sold CHF67 billion for EUR, USD, JPY, GBP to hold down the franc. It’s been doing this for years and has to invest those FX reserves somewhere. It now owns $US100 billion in equities, the rest mainly in EUR and US bonds.

    The other main suspect is the Bank of Japan.

    Both central banks now have balance sheets equal to the size of their economies, far outpacing the ECB and Federal Reserve (see chart below)

    See: https://www.tradingfloor.com/posts/bank-of-japan-swiss-national-bank-becoming-huge-hedge-funds-8543239
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    5h
    Patto Patto
    10-15 votes short of 216 needed.......Major set back for Trump and his Republican party. There will be a "circular firing squad" among the leadership. But surprising how...
  • 10h
    AndrejLences AndrejLences
    I love your analysis.
    10h
    AndrejLences AndrejLences
    Would be EUR/USD bearish next week ? What do you think ? Thank you.
    10h
    Michael O'Neill Michael O'Neill
    I think it's reasonable with a stop above 1.0820 or 1.0880
  • Calendar event / Yesterday at 12:30 GMT

    US Advance Report on Durable Goods

    forecast
    actual
    High Durable Goods-SA, M/M%
    +1.5%
    +1.7%
    High Dur Goods, Ex-Defense, M/M%
    +2.1%
    High Dur Goods, Ex-Transport, M/M%
    +0.4%
    Med Orders: Cap Gds, Non-Def, Ex-Air, M/M%
    -0.1%
    Med Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M%
    +1%
  • Calendar event / Yesterday at 9:00 GMT

    EU Eurozone Flash PMI

    forecast
    actual
    High PMI, Mfg
    55.2
    56.2
    Med PMI, Composite
    55.8
    56.7
    Med PMI, Services
    55.3
    56.5
  • Squawk / Yesterday at 8:39 GMT
    Head of FX Strategy / Saxo Bank
    Denmark
    Euro rallies again on strong France and Germany flash March PMI's. The flash Markit Services PMI leapt all the way to 58.5 for the preliminary March reading, handily beating expectations and reaching the highest level in nearly six years, while the manufacturing PMI also beat with a 53.4 reading, just below multi-year from January. Germany's numbers were equally strong, with the Manufacturing PMI reading at 58.3, the highest since 2011, and the services PMI at a respectable 55.6. The Euro Zone wide flash PMI's are also up shortly and likely to show similar tendencies - offering the Euro broad support as we look for an eventual ECB taper and start to price in rate hikes for early next year.
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