Published at 04:50 (GMT) 17 Nov
BoE Gov Mark Carney says monetary policy along cannot solve eurozone challenges, sustainable fiscal policy, reform needed in eurozone. - BBG
On FX, BoE Gov Carney, also FSB chair, signals that ECB stimulus, easing alone is not sufficient to help Eurozone. EUR/USD at 1.2555-60, supported now on broadly weaker USD, after USD/JPY fall from 7-year highs 117.06 to 115.49-50. Now 115.72-75. Bids at 115.40-50.
EUR/USD offers at 1.2600-10, supported earlier on EUR/JPY leg as well - though now down sharply from 6-year highs of 146.40-50, to 145.30-35 now. Down from highest level since Oct 3 2008 146.82. EUR/USD range of 1.2515 to 1.2577 for now. Bids at 1.2500-10, offers 1.2580-00.
EUR/GBP at 0.7982-85, offers at 0.8000-10, bids at 0.7950-60, interest to sell on rallies, given dovish ECB. Though GBP, GBP/Crosses weighed in recent sessions due to dovish BoE QIR. WL
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.