****There is no Daily Analysis Video for today****
Today we started the London session with German Ifo Business climate which came out as positive than previous and expected numbers.
Then the Second Estimate GDP q/q of UK also came out as positive than expected and previous, but the y/y reading was negative than previous and the Business Invest q/q & y/y were both negative than previous.
Finally CPI and Core CPI y/y reading from Eurozone were both in line.
Moving on to NY session where we saw Retail & Core Retail sales m/m from Canada were both negative than previous and expected numbers.
Finally we had the FOMC Meeting Minutes in the afternoon which didn’t really provide too much insight and market reaction was generally muted to a bit downside. People were disappointed that there wasn’t any hawkish tone on the contrary to what Yellen had testified in front of the Congress last week which her tone was much more hawkish. Nevertheless, March rate hike is still a possibility.
Yellen had made a surprise comment last week after the FOMC meeting and had changed her tone from dovish to hawkish.
The Private Capital expenditure q/q of AUD
Oil market were virtually unchanged for the day while equity markets were mixed.
For EUR
A more positive news today from French election came from candidate Bayrou who has dropped out of the race and would potentially shift his votes to Macron whom is a rival for Le Pen.
For USD
FOMC minutes were judged by the market as a bit dovish and failed to provide any confirmation of Hike.
For GBP
The disappointed Business Investment numbers had once again pressured down GBP. Although the economy still picked up fairly well by the GDP number, but firms are expected to rein in their investment plans as Briexit negotiation is still uncertain.
For CAD
The retail sales figures were a drag for Canada today and on top of that, the oil market also fell today on the expectation that U.S Crude Oil Inventory this week will be another built again.
It was a large drop in both Core ad Headline figure, but we still need to see more datas as previous 3 datas were all quiet positive.
If the real sales have slowed down consecutively, then that will be a worry sign particularly when real estate debit is also climbing up, the consumers might not have any money to spend as everything is tied up in household debt.
For AUD
Australia government sold record largest ever bond issue with triple A rating. Aussie is still one of the highest yield currency and the confidence to invest in this country is still very high.
We saw the Capital Expenditure during Asian session came out as negative number, but looking into the details we saw the large drop in mining industry which was expected, however, the Service & Manufacturing sectors both went up well to continue supporting AUD.
For NZD
There is no major catalyst and NZD remains to be well supported from its economic strength.
For JPY & CHF
Both currencies continued to be fundamentally negative but will react positively to the safe heaven inflows.
Today we started the London session with German Ifo Business climate which came out as positive than previous and expected numbers.
Then the Second Estimate GDP q/q of UK also came out as positive than expected and previous, but the y/y reading was negative than previous and the Business Invest q/q & y/y were both negative than previous.
Finally CPI and Core CPI y/y reading from Eurozone were both in line.
Moving on to NY session where we saw Retail & Core Retail sales m/m from Canada were both negative than previous and expected numbers.
Finally we had the FOMC Meeting Minutes in the afternoon which didn’t really provide too much insight and market reaction was generally muted to a bit downside. People were disappointed that there wasn’t any hawkish tone on the contrary to what Yellen had testified in front of the Congress last week which her tone was much more hawkish. Nevertheless, March rate hike is still a possibility.
Yellen had made a surprise comment last week after the FOMC meeting and had changed her tone from dovish to hawkish.
The Private Capital expenditure q/q of AUD
Oil market were virtually unchanged for the day while equity markets were mixed.
For EUR
A more positive news today from French election came from candidate Bayrou who has dropped out of the race and would potentially shift his votes to Macron whom is a rival for Le Pen.
For USD
FOMC minutes were judged by the market as a bit dovish and failed to provide any confirmation of Hike.
For GBP
The disappointed Business Investment numbers had once again pressured down GBP. Although the economy still picked up fairly well by the GDP number, but firms are expected to rein in their investment plans as Briexit negotiation is still uncertain.
For CAD
The retail sales figures were a drag for Canada today and on top of that, the oil market also fell today on the expectation that U.S Crude Oil Inventory this week will be another built again.
It was a large drop in both Core ad Headline figure, but we still need to see more datas as previous 3 datas were all quiet positive.
If the real sales have slowed down consecutively, then that will be a worry sign particularly when real estate debit is also climbing up, the consumers might not have any money to spend as everything is tied up in household debt.
For AUD
Australia government sold record largest ever bond issue with triple A rating. Aussie is still one of the highest yield currency and the confidence to invest in this country is still very high.
We saw the Capital Expenditure during Asian session came out as negative number, but looking into the details we saw the large drop in mining industry which was expected, however, the Service & Manufacturing sectors both went up well to continue supporting AUD.
For NZD
There is no major catalyst and NZD remains to be well supported from its economic strength.
For JPY & CHF
Both currencies continued to be fundamentally negative but will react positively to the safe heaven inflows.