GMTAuthor: Adam Button

Upbeat survey weighs on USD/CAD

USD/CAD fell below 1.30 for the first time since Wednesday after the Bank of Canada's Q3 business outlook survey.

The central bank increasingly leans on the signals in the report to guide monetary policy. A hike was already widely expected next week but this solidifies it and highlights the risk of a hawkish statement and another hike in December or January.

Before the report, the implied odds of a January hike were 65%.

USD/CAD was at 1.3020 before the data and has since fallen to 1.2985.


ForexLive

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Mon 15 Oct 2018 14:36:07 GMT

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May: UK has made real progress on Brexit

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May: UK has made real progress on Brexit


Adam Button
Mon 15 Oct 2018 14:36:07 GMT
Category: News
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May in parliament Cable higher on the headlines. ForexLive

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Mon 15 Oct 2018 14:30:35 GMT

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BOC Q3 business outlook survey future sales +15% vs +6% prior

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//az705044.vo.msecnd.net/20181015/boc-survey.png Adam Button
Mon 15 Oct 2018 14:30:35 GMT
Category: Central Banks
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Highlights of the Bank of Canada's Q3 2018 business outlook survey - Prior future sales were +6% - Widespread reports of better sales indicators for domestic and foreign customers Survey data:

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Mon 15 Oct 2018 14:21:19 GMT

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Tether disconnects from the US dollar, sparking fears

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//az705044.vo.msecnd.net/20181015/0-2018-10-15_10-10-08.png Adam Button
Mon 15 Oct 2018 14:21:19 GMT
Category: Cryptocurrency
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Tether falls Tether is a stable coin that's pegged at one-to-one with the US dollar. The problem is, there have been relentless rumors that the dollars backing it don't exist.

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Mon 15 Oct 2018 14:00:04 GMT

US August business inventories +0.5% vs +0.5% expected

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Adam Button
Mon 15 Oct 2018 14:00:04 GMT
Category: News
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August 2018 US business inventories ForexLive

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Mon 15 Oct 2018 13:55:11 GMT

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Yellen: Thinks 3% growth is terrific but doesn't think it can last

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//az705044.vo.msecnd.net/20180202/yellen-surfing.png Adam Button
Mon 15 Oct 2018 13:55:11 GMT
Category: Central Banks
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Comments from former Fed Chair Yellen ForexLive

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Mon 15 Oct 2018 13:36:21 GMT

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US equity markets slide after the open

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US equity markets slide after the open


//az705044.vo.msecnd.net/20181015/2018-10-15_9-35-54.png Adam Button
Mon 15 Oct 2018 13:36:21 GMT
Category: News
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Small decline to start the week The S&P 500 is down 7 points to 2760 shortly after the open. ForexLive

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Mon 15 Oct 2018 13:32:55 GMT

Canada exports to China jump as US-China trade war intensifies

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https://www.youtube.com/embed/UlpQhBSFhZI Adam Button
Mon 15 Oct 2018 13:32:55 GMT
Category: News
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Canada well positioned to take advantage of trade war The US and China will be trading less with each other and more with Canada, Mexico, South Korea and others in the months ahead.

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Mon 15 Oct 2018 13:19:07 GMT

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Turkish police have audio indicating Khashoggi killed inside consulate - report

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Mon 15 Oct 2018 13:19:07 GMT
Category: News
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Reuters sources The Turkish press has been reporting there is audio of his murder. It's supposedly from an Apple Watch he was wearing but many believe the consulate was bugged and that's just a cover story.

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Mon 15 Oct 2018 13:00:26 GMT

Canada September existing home sales -0.4% vs 0.0% expected

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//az705044.vo.msecnd.net/20181015/2018-10-15_9-01-12.png Adam Button
Mon 15 Oct 2018 13:00:26 GMT
Category: News
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Existing home sales data from the Canadian Real Estate Association ForexLive

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Mon 15 Oct 2018 12:47:21 GMT

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Trump speaks with Saudi king, says will send Pompeo to meet him

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//az705044.vo.msecnd.net/20181015/2018-10-15_8-44-20.png Adam Button
Mon 15 Oct 2018 12:47:21 GMT
Category: News
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Trump to send Secretary of State to Saudi Arabia Trump tweeted about Saudi Arabia, noting that the king denied any knowledge of what happened to Jamal Khashoggi.

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Mon 15 Oct 2018 12:30:55 GMT

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US September advance retail sales +0.1% vs +0.6% expected

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US September advance retail sales +0.1% vs +0.6% expected


//az705044.vo.msecnd.net/20181015/retail-sales-control-group-2018.png Adam Button
Mon 15 Oct 2018 12:30:55 GMT
Category: News
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September 2018 US retail sales highlights - was +0.1% (unrevised) - Ex autos -0.1% vs +0.4% exp - Prior ex autos +0.3% (revised to +0.2%) - Ex autos and gas 0.0% vs +0.4% exp The headline is poor but if you strip out autos, gas and building supplies it was a strong month. Autos rose 0.8%, building materials rose 0.1% and gasoline station sales fell 0.8%.

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Mon 15 Oct 2018 12:30:11 GMT

US Empire manufacturing for October 21.1 vs 20.0 expected.

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US Empire manufacturing for October 21.1 vs 20.0 expected.


Greg Michalowski
Mon 15 Oct 2018 12:30:11 GMT
Category: News
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NY state survey of manufacturers The survey is comprised of about 200 manufacturers in New York state which asks respondents to rate the relative level of general business conditions.  A reading above 0.0 is expansionary. A reading below 0.0 is contractionary.

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Mon 15 Oct 2018 12:21:36 GMT

The CHF is the strongest and the USD is the weakest as NA traders enter

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//az705044.vo.msecnd.net/20181015/2018-10-15_4-50-56.jpg Greg Michalowski
Mon 15 Oct 2018 12:21:36 GMT
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GBP recovering Traders decided to make a run into the CHF at the start of the week and that was helped by moves into the USD as concerns about trade, stocks and you can add Saudi relations as well.  Brexit concerns had the GBP down, but the move lower could not be sustained.  

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Mon 15 Oct 2018 12:18:49 GMT

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US retail sales will set the tone for New York trade

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US retail sales will set the tone for New York trade


//az705044.vo.msecnd.net/20181012/control-group.png Adam Button
Mon 15 Oct 2018 12:18:49 GMT
Category: News
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Retail sales due at the bottom of the hour The September retail sales report is due at 1230 GMT and expected to rise 0.6% m/m with the control group up 0.4%. Here's what Barclays had to say:

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Mon 15 Oct 2018 12:02:07 GMT

ForexLive European FX news wrap: Dollar gets no love as softer equities remain the key focus

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ForexLive European FX news wrap: Dollar gets no love as softer equities remain the key focus


//az705044.vo.msecnd.net/20181015/15-10-2018-7-41-03-pm.png Justin Low
Mon 15 Oct 2018 12:02:07 GMT
Category: News
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Forex news from the European trading session - 15 October 2018 Headlines: Markets: - CHF leads, USD lags on the day - European equities mixed on the session

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Mon 15 Oct 2018 11:25:35 GMT

Theresa May to make a statement to parliament later today on Brexit negotiations

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//az705044.vo.msecnd.net/20180924/theresa-may-straightjacket.png Justin Low
Mon 15 Oct 2018 11:25:35 GMT
Category: News
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According to the parliament leader's office ForexLive : May is believed to be addressing parliament at around 1430 GMT. Update

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Mon 15 Oct 2018 11:21:20 GMT

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Brexit: British MPs reportedly trying to persuade May to ditch Chequers

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//az705044.vo.msecnd.net/20181015/15-10-2018-7-16-56-pm.png Justin Low
Mon 15 Oct 2018 11:21:20 GMT
Category: News
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Serious warnings said to be flying about if she doesn't With regards to the Irish backstop/border, to try and convince some parliamentary members to side with her she has to go with a time-limited backstop but the EU won't accept that. And latest news is that she is trying to push forward with a UK-wide customs agreement, something in which members of her own Tory party aren't too fond of.

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Mon 15 Oct 2018 11:11:23 GMT

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GBP/USD rises to session highs as pound fades Brexit negativity

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GBP/USD rises to session highs as pound fades Brexit negativity


//az705044.vo.msecnd.net/20181015/15-10-2018-7-02-42-pm.png Justin Low
Mon 15 Oct 2018 11:11:23 GMT
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GBP/USD touches a high of 1.3082 on the day ForexLive Price is now testing the 100-hour MA (red line) @ 1.3174 and threatening a break above that. Hold a break above and the near-term bias in the pair turns more bullish. The pound is playing a bit of a catch up game on the day as it seeks to pare earlier losses against the dollar and other major currencies. The quid started on the back foot today as Brexit negotiations between the UK and the EU comes to a standstill with the talks being pushed to Wednesday now.

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Mon 15 Oct 2018 10:43:36 GMT

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UK PM spokesman says still focused on getting a Brexit deal in the coming weeks

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UK PM spokesman says still focused on getting a Brexit deal in the coming weeks


Justin Low
Mon 15 Oct 2018 10:43:36 GMT
Category: News
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Comments by UK PM spokesman James Slack - Confident of getting a Brexit deal - Have made real progress in Brexit talks - There remains a number of unresolved issues relating to backstop ForexLive

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Mon 15 Oct 2018 10:39:04 GMT

Italian government 2019 budget approval reported to slip to Tuesday

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Italian government 2019 budget approval reported to slip to Tuesday


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Mon 15 Oct 2018 10:39:04 GMT
Category: News
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Italy to miss out on the EU budget submission? This, according to a headline by Reuters citing Italian media - which are citing Italy's deputy prime minister Matteo Salvini. It says that the government's 2019 budget approval will slip into Tuesday as tensions grow among the coalition government members over plans for tax amnesty in the budget.

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Mon 15 Oct 2018 10:25:55 GMT

European Commission says it is intensifying contingency work for no-deal Brexit scenario

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European Commission says it is intensifying contingency work for no-deal Brexit scenario


Justin Low
Mon 15 Oct 2018 10:25:55 GMT
Category: News
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Comments by European Commission chief spokesman Margaritis Schinas - Reiterates that no further discussions on Brexit will take place ahead of Wednesday - Says that Barnier may brief the commission on Brexit some time this week ForexLive

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Mon 15 Oct 2018 10:10:18 GMT

Brexit: EU says that this week's summit may not produce Brexit breakthrough

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//az705044.vo.msecnd.net/20170418/theresa-may-brexit.jpg Justin Low
Mon 15 Oct 2018 10:10:18 GMT
Category: News
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According to unnamed EU diplomats, cited by Reuters - Political endorsement lacking in UK on Irish backstop - European leaders at summit must be united on Brexit ForexLive

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Mon 15 Oct 2018 09:57:58 GMT

German government spokesman says Brexit negotiations will be continued beyond this week's summit

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Justin Low
Mon 15 Oct 2018 09:57:58 GMT
Category: News
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Comments by German government spokesman, Steffen Seibert - Wants to avoid a no-deal Brexit scenario - Says that a solution to the Irish border/backstop must be found quickly ForexLive

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Mon 15 Oct 2018 09:41:52 GMT

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Cable pares losses as dollar continues to falter on the day

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//az705044.vo.msecnd.net/20181015/15-10-2018-5-32-08-pm.png Justin Low
Mon 15 Oct 2018 09:41:52 GMT
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The greenback crumbles against the major currencies bloc ForexLive Cable is essentially flat on the day now as the pound recovers its earlier losses against the dollar with the latter continuing to look lost in light of softening risk sentiment in the equities space. The dollar's haven status is looking all but gone now and that is generating into bids in other currencies as well as gold currently.

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