The Bank of Japan signaled it will keep loose monetary policy while the perception of tightening monetary policy by the Federal Reserve dominates market expectations. Off to the races! The yen started to swan dive against the dollar, and euro dives after terrorist attack.
The Australian Dollar is at the mercy of risk appetite trends once again, with post-Brexit spillover fears and geopolitical jitters threatening the sentiment-linked currency.
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Source: DailyFX.com – entire site
There were two prominent and dichotomous trends this past week. One the one hand, the S&P 500 extended a run to record highs. On the other, EUR/USD held a tight range. Can this contrast in direction and activity level hold?
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Source: DailyFX.com – entire site
The Dollar has maintained a remarkably tight range for three week range for three weeks running. The 80-point range on USDollar below 12,050 is equivalent to the average daily range of the index on a 20-day rolling basis.
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Source: DailyFX.com – entire site
The New Zealand Dollar surprised a lot of G10 currencies last week as the seven-week uptrend continued.
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Source: DailyFX.com – entire site
The British Pound strengthened for only the second week of the past seven as a key surprise out of the Bank of England and positive political developments eased financial market tensions.
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Source: DailyFX.com – entire site
Both onshore and offshore Yuan retraced against the US Dollar this week: the onshore Yuan (USD/CNY) closed at a slightly more bullish position, at 6.6810 following four consecutive drops on a weekly basis; the offshore Yuan (USD/CNH) touched 6.7076 on Monday and then pulled back after Yuan liquidity was tightened in the offshore market.
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Source: DailyFX.com – entire site
USD/CAD may continue to give back the advance carried over from the previous month as the Bank of Canada (BoC) softens its dovish outlook for monetary policy, but the fresh data prints coming out of the region may dampen the appeal of the loonie as the central bank warns ‘the output gap will close somewhat later than estimated in April, towards the end of 2017.
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Source: DailyFX.com – entire site
Gold prices are sharply lower this week with the precious metal down more than 2.8% ahead of the New York close on Friday.
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Source: DailyFX.com – entire site
This weekend saw a stark change-of-pace in price action trends around Japanese markets.
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Source: DailyFX.com – entire site
