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USD
Fundamental Analysis
(11th Apr) The risk aversion is helping hold on the USD. The US Core CPI printed lower than expectation, which justifies the dovish Fed. The PPI is likely to tick higher for March due to the increasing oil price but could add pressure on the manufacturing sector. We remain slightly bullish on USD for today’s trading.
(10th Apr) USD moved sideways amid the mixed risk sentiment yesterday and steadies ahead of the ECB and US CPI data to be released tonight. The Fed’s latest projection for the US economy, released at the March 20th FOMC meeting, reduced the personal consumption price index (PCE) estimate for 2019 to 1.8% from 1.9% and kept core PCE stable at 2%. The print is likely to show robust growth and could indicate a stable trend in U.S. retail sales and domestic consumption. It is likely to favor USD amid the mixed risk sentiment. This is in line with our technical analysis showing more upside.
(9th Apr) Today is another muted day for the economic calendar. U.S. banks begin reporting first-quarter earnings, led by JPMorgan and Wells Fargo. Elsewhere, China and the EU is forming a front against President Trump, which could put more pressure on the U.S. economy and USD. We think USD could steady in today’s trading as risk-on sentiment, in a weak format, can be offset by recent relatively strong performance of U.S. economy in a muted calendar day. Our technical analysis alerts us that the DXY could bounce from recent low if the risk sentiment wane.
(8th Apr) USD strengthened on Friday with the March US nonfarm payrolls recovering back to 196K. However, the market was generally surprised on the downside as retail sales and durable goods orders posted declines and missed their forecasts. Nonfarm payrolls came in at 196K, easily beating the estimate of 172K in March. Still, this reading was significantly lower than the December and January releases, both of which were above the 300K level. We are forecasting some correction in the recent USD rally hence our bearish stance on USD for this week’s trading. The good news from the trade talk is boosting the risk-on sentiment, which could add to the upward pressure on USD.
Technical Analysis
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CAD
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Fundamental Analysis
(11th Apr)Today will see the release of NHPI, which will be a leading indicator of the housing industry health. It is more likely to disappoint the market after recent cooling Vancouver property sales tumbled to a 33-year low. Meanwhile, the risk aversion… [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.
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