Westpac on NZD/USD and NZD/AUD (updated views)

This via Westpac on the New Zealand dollar, dated October 4Its their view out 1 to 3 months:NZD/USD: If the RBNZ remains firmly on hold, as we expect, and the US dollar rises on tighter Fed policy, then NZD/USD could fall as far as 0.70 by year end. AUD/NZD: September’s downward correction should give way […]

US stocks up modestly and off highs but still record closes

Could have been better. Could have been worseThe major US stock indices are ending the day with modest gains, but any gains mean they they are record closes. Although higher, the indices did reach record intraday highs, before correcting lower: S&P is ending the day up 3.16 points or 0.12% TO 2537.74. The high reache 2540.53. […]

Strong ISM Services Provide Further Support For USD Turn: SW Report

Key Highlights: EUR remains in focus with questions rising about Catalonia Independence from Spain Haven currencies CHF, JPY are on the defensive as equities push ever-higher USD continues to trade in light of possible Fed succession and improving economic outlook IGCS Highlight: rise in GBP/USD long positions favor further USD strength toward 1.3180 Access our […]

US crude oil futures settle below $50

Down -$0.44 or -0.87%The price of Crude oil is settling below the $50 level for the first time since September 19th. The level is a natural technical level that could define bullish above and bearish below. The move lower took the price back below the 61.8% of the 2017 trading range at $50.20 and also below […]