* FX Return analysis
* Draghi to stick to dovish tone as EURUSD remains elevated
* Fundamental wrap: UK and Europe
* RBA expected to hold, AUD still a concern
* US government shutdown looms ahead of payrolls
* BOJ likely to stay the course amid Abe's tax decision
The dollar's performance was fairly mixed last week with gains for the greenback against the AUD, NOK and NZD as the commodity currencies came under pressure in the lead up to large event risks in the US (see US section for more). The safe haven currencies did the best against the USD, while EUR and GBP extended gains, however they were limited after large increases post the FOMC meeting last week.
Source: FOREX.com and Bloomberg
The third quarter saw a retreat in the USD, particularly against the pound, which is up nearly 10% since early July. The dollar's performance was mostly down to a weakening in the economic data and the potential for the Federal Reserve to delay tapering for some time if momentum does not build in the economy. This pushed down Treasury yields, which weighed on the greenback. The AUD had another torrid quarter versus the dollar, even though the RBA only cut rates once in 3Q. However, the RBA's dovish stance continued to... Full text »
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* Draghi to stick to dovish tone as EURUSD remains elevated
* Fundamental wrap: UK and Europe
* RBA expected to hold, AUD still a concern
* US government shutdown looms ahead of payrolls
* BOJ likely to stay the course amid Abe's tax decision
The dollar's performance was fairly mixed last week with gains for the greenback against the AUD, NOK and NZD as the commodity currencies came under pressure in the lead up to large event risks in the US (see US section for more). The safe haven currencies did the best against the USD, while EUR and GBP extended gains, however they were limited after large increases post the FOMC meeting last week.
Source: FOREX.com and Bloomberg
The third quarter saw a retreat in the USD, particularly against the pound, which is up nearly 10% since early July. The dollar's performance was mostly down to a weakening in the economic data and the potential for the Federal Reserve to delay tapering for some time if momentum does not build in the economy. This pushed down Treasury yields, which weighed on the greenback. The AUD had another torrid quarter versus the dollar, even though the RBA only cut rates once in 3Q. However, the RBA's dovish stance continued to... Full text »
Facebook | Twitter | YouTube
Continue Read...
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