Market News

Last week’s BOE Super Thursday didn’t turn out so super for the British pound, but the tide could still turn this week with these major catalysts lined up. Here’s what you need to prep for!

The Aussie and the Kiwi initially outperformed, thanks to the commodities rally. However, the Loonie later joined the fray on the oil cut deal extension announcement. Meanwhile, North Korea jitters and returning risk-on vibes very likely sapped the yen’s strength during today’s Asian session.

It’s been a while since I last did a Roundup of Central Bank Biases. And since the Bank of Canada (BOC) is the only one left that has yet to deliver its policy rate statement this month, I thought that now would be a good time do a quick roundup.

Volatility this week was much tighter compared to last week. With that said, the Swissy and the Kiwi suffered this week while the Greenback ruled all. How about the other currencies? How did they do this week? Well, time to find out!

The tight trading conditions from the earlier Asian session persisted into today’s morning London session, probably because traders are waiting for top-tier U.S. data to be released. There were some movements, though, since the euro found broad-based demand while the Loonie was broadly lower.

Yesterday the BOE once again kept its monetary policies steady for another month in May. So what exactly dragged the pound lower across the board? Here are points you need to know.

Both volatility and directional movement were in short supply during today’s Asian session. The Kiwi was feeling some bearish pressure and got nudged lower across the board, though. The yen, meanwhile, managed to score small wins against all its peers.

U.S. economic figures came in stronger than expected, but these weren’t enough to keep the Greenback’s spirits up as equity indices closed slightly lower.

The New Zealand dollar sank to an almost one-year low and its Canadian counterpart by roughly half a percent on Thursday as domestic concerns outweighed a bounce in oil prices for the commodity-focused currencies.

All eyes were on the pound. And unfortunately, the pound took hard hits across the board during today’s morning London session, thanks (or no thanks) to a slew of poor economic reports and the BOE’s monetary policy statement.

As expected, the RBNZ kept the OCR unchanged, but the Kiwi plunged super hard as a result. What’s up with that? What did Wheeler and company say or do that caused the Kiwi to tank that hard? Well, here are the key highlights from the RBNZ’s May statement and presser that you should know about.

We have cautiously maintained our US dollar bias through the latest downtrend measured from the beginning of April this year labeled wave [b].

Comdoll bashing was apparently the main theme during today’s Asian session, with the Kiwi getting hit the hardest, thanks to the RBNZ’s rate decision and statement.

Risk appetite seemed to pop its head back in the financial markets as U.S. equities edged higher while crude oil rebounded thanks to a huge reduction in inventories.

The Canadian dollar strengthened Wednesday against its U.S. counterpart as oil prices rose.

The Aussie and the Kiwi extended their gains from the earlier session and are now the best-performing currencies of the day (so far). And Aussie and Kiwi bulls can still thank the continuing rise in commodities for that.

What’s up with oil lately? Well, “down” would probably be more accurate since oil has been trending lower since mid-April. So, what’s been weighing down on oil lately? Why has OPEC’s oil cut deal lost its magic? And what oil-related updates should you keep in mind going forward?

Most currency pairs were range-bound yet again during today’s Asian session. And like yesterday, Aussie and Kiwi pairs were an exception yet again. This time, however, the two currencies were in a race to the top, thanks to the risk-on vibes and the commodities rally during the session.

Most dollar pairs were chillin’ like ice cream fillin’ during the New York session while yen pairs were in a frenzy thanks to North Korea’s announcement about continuing its nuclear weapons tests.

The comdolls were engaged in a bitter battle royale while the safe-haven Swissy and yen got sideswiped, thanks to recovering commodities and improving risk sentiment during the session.