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The Australian Dollar ebbed to an 11-day low versus the U.S. Dollar, at 0.6833. Several factors weighed on the antipodean currency. First, the RBA minutes from the September policy meeting showed that the central bank remains disposed to further easing, and second, Australian consumer sentiment fell to a two-year low. Read more
The Dollar headed higher in N.Y. trade on Monday, with safe-haven flows driving gains. The attack on Saudi oil infrastructure over the weekend saw gold and Treasuries head higher (along with oil prices), while equity markets were broadly lower. Incoming U.S. Read more
OVERVIEW Oil prices climb following oil refinery attacks by drones. Iran denies responsibility. A quiet day for data announcements today as central bank executives gather to decide on next policy steps. The EU is pushing the responsibility for the Irish backstop on UK leaders to solve. Read more
A stab of risk-off positioning drove the Yen higher in early trade, although follow-through has been limited. News that a drone attack on Saudi oil facilities have shut down 5% of global supply impacted at the open of trading. Some solace was taken on the view that the Saudi will be able to maintain exports for a time by tapping into crude stockpiles while work commences in restoring production, although oil prices, while down from the highs, are still showing a near 10% gain on the day, and there are concerns that U.S.-Iranian tensions could ratchet up given the suspicions of the former about the possible involvement of the latter. Read more
OVERVIEW Despite the drama from the dweller of 10 Downing Street, the pound hit a 2-month high against the US Dollar. Currency market watchers are treading cautiously ahead of next week's FOMC meeting The market was looking for a more generous stimulus package for the EU than the ECB delivered. Read more
A 1%-plus rally in the Pound has been the main dynamic among the main currencies, which spirited Cable to a seven-week peak at 1.2476, extending the rebound from last week's major-trend low at 1.1958. There was no particular catalyst. While EU Trade Commissioner Hogan said that events in the UK's Parliament have improved the odds for an extension in the Brexit deadline, this didn't tell us anything we didn't already know, while Sterling had been driving higher well before his remarks hit the wires. Read more
The yen posted fresh trend lows against the dollar, though remained just off the lows it saw against the euro, Australian dollar and other currencies yesterday. USD-JPY printed a six-week high at 108.26 in what is now the fourth consecutive day of higher-high making. Read more
The dollar rallied early in N.Y. on Thursday on the back of a warmer core U.S. CPI outcome, and on an ECB announcement which included a 10 basis point rate cut, and an open-ended reinstatement of QE. This saw EUR-USD fall to within a hair of the two-plus year lows of 1.0926 seen in early September. Read more
OVERVIEW Inflation is in the spotlight today in the US and Europe after data releases from the US Fed and ECB Operation Yellowhammer documents paint a bleak picture of no-deal Brexit scenarios WTI crude prices down on overly abundant supply HIGHLIGHT The European Central Bank and US inflation took centre stage in the financial market today. Read more
The Dollar has taken a turn lower, losing ground to commodity currencies amid an enduring risk-on phase in global markets, and with the Euro seeing a pre-ECB upward shift during the London morning session. USD-JPY also corrected after posting a fresh six-week high during the Tokyo session. Read more
