Today we started the London session with German PPI m/m which came out very positive than expected and previous.
Then in NY session we had Core CPI m/m and CPI m/m from CAD which both came out in line.
We also had ECB Draghi speaks today, FOMC members speaks, so let’s get into the sentiment of the market.
WTI had small green candle to finish the week, still around $45 area and as mentioned, the OPEC meeting this month is going to play a big role in the oil market. (positive sentiment now as Iran seems to get a better deal)
Equity markets had a mixed day with Asian sessions all green but European and North America sessions all red.
Dollar is already in 13 years high, so no surprise to see some pullback in many financial markets, but fundamentally, USD is still very strong and perhaps the strongest currency for now and into 2017.
We’re continuing to see confidence into the financial market post U.S election, now the probability of Dec Fed rate hike is also very high.
However, this is really the time to be careful as a trader, to not chase the high and the over optimism of the mass crowds, although USD is definitely a buy, but we still need a good level to enter.
(long-term wait for good position; short-term ride the trend; trade for any unexpected news result)
FED members’ comments today continued to support the rate hike possibility in Dec; while ECB comments were not so positive as Draghi still thinks the inflation is too low although the economy has picked up, the monetary policy accommodation is still necessary.
Market has now anticipated the extension of ECB’s easing program, which will be decided next month; overall not a positive picture for EURO.
Take a look at COT market
*GBP outlook*
*EUR outlook, bond buying program and Italy refrarandum, French & German election*
*CHF negative IR continues*
*CAD possible rate cut, neutral *
*USD continued higher; buy at right level, watch out for trade policy*
*JPY continued easing, low export, low inflation, low spending*
*AUD fundamentally strong but very negative sentiment due to USD & Commodity speculators’ dumping futures"
“NZD neutral stance; suffer negative sentiment because of USD possible rate hike*
Today we started the London session with German PPI m/m which came out very positive than expected and previous.
Then in NY session we had Core CPI m/m and CPI m/m from CAD which both came out in line.
We also had ECB Draghi speaks today, FOMC members speaks, so let’s get into the sentiment of the market.
WTI had small green candle to finish the week, still around $45 area and as mentioned, the OPEC meeting this month is going to play a big role in the oil market. (positive sentiment now as Iran seems to get a better deal)
Equity markets had a mixed day with Asian sessions all green but European and North America sessions all red.
Dollar is already in 13 years high, so no surprise to see some pullback in many financial markets, but fundamentally, USD is still very strong and perhaps the strongest currency for now and into 2017.
We’re continuing to see confidence into the financial market post U.S election, now the probability of Dec Fed rate hike is also very high.
However, this is really the time to be careful as a trader, to not chase the high and the over optimism of the mass crowds, although USD is definitely a buy, but we still need a good level to enter.
(long-term wait for good position; short-term ride the trend; trade for any unexpected news result)
FED members’ comments today continued to support the rate hike possibility in Dec; while ECB comments were not so positive as Draghi still thinks the inflation is too low although the economy has picked up, the monetary policy accommodation is still necessary.
Market has now anticipated the extension of ECB’s easing program, which will be decided next month; overall not a positive picture for EURO.
Take a look at COT market
*GBP outlook*
*EUR outlook, bond buying program and Italy refrarandum, French & German election*
*CHF negative IR continues*
*CAD possible rate cut, neutral *
*USD continued higher; buy at right level, watch out for trade policy*
*JPY continued easing, low export, low inflation, low spending*
*AUD fundamentally strong but very negative sentiment due to USD & Commodity speculators’ dumping futures"
“NZD neutral stance; suffer negative sentiment because of USD possible rate hike*