Yohay Elam | TalkMarkets | Page 165
Contributor's Links: Forex Crunch
Yohay Elam has been into forex trading for over 5 years, and shares the experience and the knowledge accumulated after taking a short course about forex. Like many forex traders, Elam has earned the significant share of his knowledge the hard way. Macroeconomics, the impact of news on the ...more

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GBP: Where To Position Ahead Of The Important EU Summit On Dec 14-15 – Nomura
The pound is not going anywhere fast amid OK economic data and Brexit worries. What’s next for the pound? The team at Nomura looks at the upcoming EU summit and the outlook for the pound also against the yen and the Swiss franc.
Canadian ADP Report Shows A Drop Of 5.7k Jobs
Canada’s manufacturing sales rose by 0.5%, beating expectations. Foreign securities purchases also came out better than expected at 16.81 billion.
U.S. Jobless Claims, Philly Fed, Import Prices All Disappoint – USD Ticks Down
US weekly jobless claims are up to 249K, disappointing expectations. Import prices are only up by 0.2%, also short of predictions. Philly Fed Manufacturing Index completes the losing streak by falling to 18.9.
UK Retail Sales Rise By 0.3% – GBP Marginally Higher
It’s not all doom and gloom for the British consumer. Retail sales are up by 0.3% m/m, on top of a small upwards revision. Year over year, sales are down 0.3%, a bit better than -0.6% predicted.
AUD/USD: Mixed Jobs Report, Mixed Reaction
The Australian economy gained only 3.7K jobs in October, significantly below the 18.9K that was expected. On the other hand, the previous figure was revised up from 19.8K to 26.6K, softening the blow.
NZD/USD: After The Storm, What’s Next?
ING FX Strategy Research discusses NZD outlook noting that after an eventful month, this week provides some relative calm for NZD with only second-tier manufacturing PMI and 3Q PPI inflation data to note (both Fri NZ local time).
USD: Stalled; Most Of Good News On US Tax Cuts Look Already Incorporated – Barclays
The US dollar is on the back foot due to some safe-haven flows. But what about the main driver of the greenback? The team at Barclays examines the tax cuts issues.
EUR/USD Conquers One Resistance Level At A Time
EUR/USD is trading around 1.1840, just under the 1.1850 resistance line. It had earlier conquered the 1.1780 level and settled there for a while before moving forward.
US Core CPI Rises To 1.8%, Retail Sales Mixed – USD Wobbles
Mixed data from the US: core CPI is up to 1.8% y/y, better than expected. On the other hand, the control group of the retail sales misses with 0.3%, below expectations.
GBP/USD Weakness Exposed – Cannot Rise On Good Data
GBP/USD faces resistance at 1.3180, followed by 1.3220. On the downside, the pair could find support around 1.3080 and 1.3030. All these levels are within the well-known range.
AUD: No Money, No Money – Falling On Wages
AUD/USD dropped to below the 0.76 level. The pair slipped to lower ground yesterday but managed to recover. This second blow is already more decisive.
Japanese GDP Grows Slowly – JPY Actually Rises
The Japanese economy grew by 0.3% in the third quarter of 2017, lower than 0.4% that was expected. It is also below 0.6% seen in Q2. Year over year, the world’s third-largest economy advanced by only 1.4%, also falling short of expectations.
GBP/USD: Can’t Fade Brexit Headlines Just Yet; 1.28 Coming? – TD
The pound is trading at the 1.31 handle, relatively lower in the wider range. What’s next? The team at TD focuses on Brexit woes and sees some potential to the downside.
US PPI Beats With 0.4% – EUR/USD Slips From The Highs
US inflation is rising, at least at the producer level. PPI is up 0.4% m/m in both the headline and the core numbers. Year over year, PPI is up 2.8% and core PPI is up 2.4%.
Italian GDP Rises By 0.5% As Expected – EUR Looks Strong
The economy of Italy is seeing accelerating growth: 0.5% q/q, the highest since 2009. This may provide some comfort after Italy was left out of the World Cup for the first time in 60 years.
Eurozone GDP Remains At 0.6% – EUR/USD Consolidates
After a strong start to the day, the bulk of economic data is somewhat more mixed. Euro-zone GDP was confirmed at 0.6% q/q and 2.5% y/y. The German ZEW Economic Sentiment rose to 18.7 points but this fell short of 20 points expected.
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