Citi analysts on Harvey — GDP, inflation, debt ceiling impacts

Citi on the impact of the storm: Storm Harvey seen posing 0.1 percentage point drag on US Q3 GDP, slight economic boost in Q4 2017, Q1 2018 Gasoline price rise may raise headline US inflation in September but unlikely to increase overall inflation Post-Harvey relief spending seen adding another variable in congressional budget, debt ceiling negotiations […]

Economic data due from Asia today

On the calendar for the session, Australian data the most likely to move forex2245GMT — New Zealand — Building consents (permits) for July prior -1.0% m/m 2301GMT — BRC Shop Price Index for August prior -0.4% y/y 2350GMT — Japan — Retail sales data for July expected 0.3% m/m, prior 0.2% expected 1.0% y/y, prior […]

Confused about the US dollar? Try EUR/JPY

EUR/JPY rises to the highest since January All the talk at the moment is on the intraday reversal in the US dollar. It jumbles what had looked like a breakdown in the currency. Now the USD/JPY, cable and USD/CAD charts don’t look quite as straightforward. If the dollar has you wary, have a look at EUR/JPY. […]

Citi trade of the week: Long cable

CitiFX says to buy GBP/USD Currency investors should consider buying GBP/USD this week, advises CitiFX Research in its weekly FX pick to clients.  Citi recommend buying GBP/USD around 1.2948 with a target at 1.3085, and a stop at 1.2880. This trade is already down 23 pips with cable at 1.2925. Here was last week’s trade of […]

Crude oil futures settle at $46.44. Down -0.28%

Refinery closes keeps the pressure on the priceThe crude oil futures are settling at $46.44/BBL. That is down -$0.13 or -0.28%.The low reached $45.76. The high reached $46.96.The price remains pressured by refineries being closed.  That backs up the oil supply. More supply leads to lower prices.Later today, the private oil inventory data will be released. […]