GO Markets FX Commentary | 22nd January 2014

• International Monetary Fund (IMF) increases global growth forecasts for 2014; • UK economic growth forecast lifted by IMF more than any other country; • Quiet Asian session resulting in little activity for Australian Dollar; • New Zealand Dollar drifted higher against greenback after CPI released; • Traders to watch Westpac Consumer Sentiment and CPI Read More

GO Markets FX Commentary | 17th January 2014

• AUD continues to feel burdens of strong exchange rate; • USD showing signs of recovering labour market; • GBP reversed recent gains as U.K house prices declined in December; Unemployment in Australia remains at 5.8% and lost 22,600 jobs in December, with a greater drop in full time employment. This led to the AUD Read More

Go Markets FX Analysis | Market optimism on Fed’s taper faker tires

The FOMC statement on Wednesday has proved advantageous for high risk currencies, particularly the AUD/USD and NZD/USD. Both currencies have seen an advantageous rise since Wednesday, with the Aussie gaining over 1.3% to be currently buying 94.36 US Cents. Noticeable frustration from the RBA has been displayed this week with the ASX alone gaining AUD$14billion Read More

GO Markets FX Analysis | Summers out of the Fed race; Greenback reclaims lost ground

Larry Summers decision to opt out as a Fed chief contender has seen marked U.S dollar weakness across the Asian session on Monday. The stupendously hawkish Summers was well-loved among Wall Street and the corporate sector – considered an architect of the financial crises and his absence, well-known dove Janet Yellen has reclaimed her position Read More

GO Markets FX Analysis | Yen resumes decline; Euro finds solace in Draghi

Yen resumes decline; Euro finds solace in Draghi Global market moves resembled a moderate risk-on environment overnight, with the Euro recovering after a recent slump, while the U.S dollar slipped against major counterparts with exception of the Yen. Although we’ve seen moderate weakness from the greenback overnight, we consider broader conditions favorable for further strength. Read More

GO Markets FX Analysis | Greenback finds form ahead of NFP’s

Greenback finds form ahead of NFP’s The U.S dollar continued its solid run overnight as investors looked to signs employment is steadily improving, amid further milestone highs from U.S equities. The ADP employment gauge showed 198,000 new jobs added to the private sector in February, in excess of the 170,000 expected. January’s growth originally reported Read More

GO Markets FX Analysis | AUD finds it feet; Yellen defends Fed stimulus

AUD finds it feet; Yellen defends Fed stimulus The Aussie dollar slumped to near 8-month lows yesterday following wide-spread concerns efforts by China to curb property speculation will come at the expense of growth in the region. Selling accelerated as traders chipped away at key technical support 101.5, in turn encouraging further downside before bottoming Read More

GO Markets FX Analysis | AUD under pressures; RBA to define the trend

AUD under pressures; RBA to define the trend The Australian dollar finished the week on the back foot, weighed down by a series of global themes with Euro region concerns front and centre. The Aussie’s correlative behavior with all things China saw the local unit suitably dragged lower after the official Chinese Manufacturing PMI and Read More

GO Markets FX Analysis | Euro falls on rates outlook; AUD looks to China for inspiration

Euro falls on rates outlook U.S markets weighed up a mixed bag of economic reports with encouraging weekly jobless claims offsetting a weaker than expected revision of fourth quarter growth, while concerns surrounding budget cuts encouraged only moderate weakness late in the session. U.S jobless claims fell to 344,000 for the week ending February 24, Read More

GO Markets FX Analysis | European markets regain composure; Yen falls ahead of BOJ nomination

European markets regain composure The greenback was weaker across the board overnight, with global investors seemingly less pessimistic over Italy’s political woes. Despite the threat of a lengthy period of political uncertainty in Italy, existing reforms put in place by existing technocrat government led by Mario Monti are expected to remain in place. Amid the Read More

GO Markets FX Analysis | European markets bleed on Italy; risk currencies follow suit

European markets bleed on Italy; risk currencies follow suit After a short period of relative stability in the Euro-region, the theme of negative contagion has roiled European markets once again, with Italian political concerns front and centre. The possibility of an elongated period of uncertainty in the region saw sharp losses across European equities, pulling Read More

GO Markets FX Analysis | Italian elections roil markets; Yen stages comeback

Yen strength turned to indiscriminate buying overnight with the Italian elections prompting a significant bout of risk aversion. Yen crosses slumped across the board as Italian politics continued to weigh on sentiment with projections indicating a chance of a hung parliament with Berlusconi’s party gaining support in the senate. Given the Yen’s sustained path lower, Read More

GO Markets FX Analysis | AUD slips to 4-month low

AUD slips to 4-month lows There was little in the way of catalysts to inspire any sort of meaningful correction from the Aussie dollar overnight. Equity losses and residual greenback support from Wednesday’s FOMC meeting kept the balance of risk away from high beta currencies with the Kiwi leading the charge lower. Still, we saw Read More

GO Markets Intraday Report | ‘Strong Aussie’ case hindered by FOMC

‘Strong Aussie’ case hindered by FOMC The Australian dollar took a hit overnight following the release of the Federal Reserve FOMC minutes which revealed some members advocate the scaling back of asset purchases. For many, highly accommodative policy in the United States (in the form of asset purchases such as quantitative easing) has been an Read More

GO Markets FX Analysis | Greenback surges on FOMC minutes

A surge in greenback demand governed the broader currency moves overnight, with pronounced strength noted across the board  following the release of the FOMC minutes from the January 29-30 meeting. Without detailing exact numbers or specific members, the minutes revealed several members expressed the importance of varying the pace of asset purchases, either in response Read More