ANZ say to sell the rallies in the Australian dollar

From ANZ’s weekly ‘FX Strategy’ for the week coming upThe bank is looking at the data coming up next week 9bolding mine): GDP forecasts for Q2 have already been tweaked higher and upside surprises in this week’s partials — construction work done and capex would firm these expectations and add further support to the AUD […]

US stocks end the week with mixed results

S&P and Dow up but the Nasdaq ends in the red.The major US stock indices are ending the day with mixed results. The S&P is trading up 4.07 points at the close at 2443.05. That equals a 0.17% gain. The Dow is ending up 30.27 points or 0.14% at 21813.67 The Nasdaq is the worst […]

EURGBP continues to eat into the 2009 levels.

Peaks above a topside trend line on weekly chartThe EURGBP continues to eat into the 2009 highs. Looking at the weekly chart, the swing highs come in at 0.9411 and 0.9519. At the end of 2008, the price squeezed up to 0.9804.  That is a lot of room to the upside.What the pair did in […]

ECB’s Draghi: Global recovery is firming up

Mario Draghi speaks in Jackson Hole, WY: Without stronger potential growth, the cyclical recovery we are now seeing globally will ultimately converge downwards We need to raise potential output Openness to trade is under threat Full text «With monetary policy globally very expansionary, regulators should be wary of rekindling the incentives that led to the […]

Fed’s Powell: Inflation is a little bit of a mystery

Fed Governor Powell on CNBC: The economy is strong, the labor market is very strong Inflation is «a little bit» below target, that gives us the ability to be patient It’s too soon to make a decision on any specific meeting Fed has a balance sheet plan, will soon normalize monetary policy Assumes there will […]