• GBP Stalls Following Mixed Data

    UK GDP Crashes in Q2 It hasn’t been a great week for GBP bulls. Following the largest employment decline since 2009, reported yesterday, Q2 GDP today has confirmed a technical recession in the UK. The Q2 release was recorded at -20.4%, marking the biggest quarterly contraction on record, far surpassing the -2.2% reading recorded in […]

  • Top Trump Moments This Week

    As the US presidential elections draw ever nearer, it seems that pressure on Donald Trump is causing him to move deeper into the shock-and-awe tactics which made him so attention worthy during the course of his first election campaign. Over a presidency marred with controversy and scandal it seems that Trump has lost little of […]

  • RBA Keeps Rates Unchanged In August

    Rates Unchanged At its August monetary policy meeting held overnight, the RBA kept interest rates on hold at record lows of 0.25%. The unchanged announcement was broadly expected though risks of a further rate cut were heightened after governor Lowe suggested last month that rates could be cut to as low as 0.10%. Downturn Not […]

  • US GDP Falls Most Since WW2 Over Q2

    GDP Sees Rceord Fall in Q2 The US Q2 GDP reading, released yesterday, confirmed the worst period of economic activity since the second world war with the economy contracting by 32.9% from April to June. To put the contraction in perspective, the US economy shrank by just 8.4% during the height of the last recession […]

  • The Friday Forex Takeaway – Episode 45

    Key Points From This Week Second Wave Fears Intensify The prospect of a second wave has taken on greater focus this week as an increasing number of countries report an uptick in new covid-19 cases. In response to a fresh outbreak in Spain, many European countries have enacted fresh travel restrictions on the country. The […]

  • Fed Highlights Pandemic Uncertainty At July FOMC

    The July FOMC meeting held last night was a fairly low impact event. In line with expectations the Fed refrained from adjusting policy levels while delivering a message of concern and uncertainty, highlighting its readiness to support the economy further if necessary. Key Quotes From The July FOMC statement Following sharp declines, economic activity and […]

  • Fed Announces 3mth Extension to Lending Programs Ahead of FOMC

    Funding Operations Extended Ahead of the July FOMC meeting later today, the Federal Reserve announced yesterday that it will extend the duration of a number of its lending facilities through to the end of the year in a bid to continue supporting the economy.  The extensions will apply to several of the bank’s lending operations […]

  • Australia Sees Worst Quarterly Decline in Inflation on Record

    Australia In Deflation The Australian Dollar has retained a bid tone at the European open on Wednesday despite news overnight that Australian CPI fell again in Q2. The data released by the Australian Bureau of Statistics overnight showed that in June, consumer prices fell by their most on record at -1.9%. The ABS also reported […]

  • US Durable Goods Data Raises Questions over Recovery

    Durable Goods Slows From Initial Recovery The latest economic data from the US has done little to offer much encouragement over the health of the recovery there. Durable goods orders for last month were seen rising by 7.3%, following the 15.7% rise noted in May. While the reading was above the expected 7% number forecast, […]

  • The Friday Forex Takeaway – Episode 44

    Key Points from This Week Trump Makes U-Turn on Masks In a clear sign of how bad the renewed outbreak of the virus in the US is becoming, the president this week abandoned his typically nonchalant, dismissive tone and urged us citizens to wear masks. Trump said that doing so was patriotic and necessary given […]

  • The Crude Chronicles – Episode 48

    Oil Traders Increase Long Positions The CFTC COT institutional positioning report showed that net oil longs were increased by 4434 contracts last week, taking the total position to 539, 751 contracts. The increase in upside bets reflects the better risk environment over recent weeks with equities markets continuing to rally despite fears over a fresh […]

  • BOJ Cuts Outlook On All Regional Economies For A Second Quarter

    Record Downgrade As part of the Bank of Japan’s quarterly Sakura report this week, the bank downgraded its view of all nine of the country’s regional economies for a second consecutive quarter. This marks the first instance of such a decision in over 11 years and highlights the severity of the negative impact the COVID-19 […]

  • The Friday Forex Takeaway – Episode 42

    Key Points from This Week RBA Holds Rates Steady The RBA opted to keep rates on hold this week at its July meeting and struck a broadly optimistic tone. The bank cited a firm rebound in domestic activity and better global financial conditions, despite noting a great deal of uncertainty in the outlook. Parts of […]

  • Trump Campaign Rally Linked to Tulsa COVID-19 Spike

    Trump has been at the centre of further controversy this week over claims that his recent campaign rally in Tulsa “likely contributed”  to a fresh outbreak of COVID-19 there. The Tulsa City-County Health Department said that the event, held on June 20th, “more than likely” translated into the spike in cases seen over recent weeks. […]

  • The Crude Chronicles – Episode 46

    WTI Longs Reduced Amidst Second Wave Fears The CFTC COT institutional positioning report showed that traders reduced their net long positions in WTI by 17,057 contracts last week, taking the total position to 543,826 contracts. This adjustment, which marks some of the largest selling since the peak of the oil slide earlier in the year, […]