Optimism over EU’s Juncker’s comments regarding the possibility of a breakthrough on the Irish backstop turned out to be reasonably short lived. The British pound decisively switched lower vs. the dollar Friday following various EU officials claiming the UK has still not delivered proposals compatible with the principles of the existing Withdrawal Agreement.
Key risk events today: Canada Core Retail Sales m/m and Retail Sales m/m. EUR/USD: EUR/USD prices head into Asia Pac hours relatively unchanged this morning, confined within Wednesday’s range at 1.1075/1.1013. In light of Thursday’s lacklustre performance, much of the following points aired in Thursday’s technical briefing will be employed today. The next port of … Continue reading Friday 20th September: Light economic calendar may draw technical levels to the forefront of action.
Key risk events today: Australia Employment Change and Unemployment Rate; BoJ Monetary Policy Statement; BoJ Press Conference; SNB Monetary Policy Assessment and Policy Rate; UK Retail Sales m/m; MPC Official Bank Rate Votes; BoE Monetary Policy Summary; BoE Official Bank Rate; BoE Asset Purchase Facility; Philly Fed Manufacturing Index. EUR/USD: The Federal Reserve, as expected, … Continue reading Thursday 19th September: Slew of Central banks take centre stage today – remain vigilant.
The British pound overturned Monday’s dip to sub-1.24 and refreshed tops beyond 1.25 to 1.2526 Tuesday. Renewed dollar weakness, despite upbeat industrial production data (low impact expected), helped regain traction.
The euro lost out to the dollar on safe-haven grounds after the weekend oil site attacks in Saudi Arabia, aided also by dovish comments from ECB’s Lane who underscored the reasons behind last week’s multi-pronged policy easing.
