Wednesday, January 31, 2018

Canadian dollar

There is still room to grow for the Canadian dollar, says Audrey Childe-Freeman, chief strategist at FX Knowledge. "Once the NAFTA [negotiations] element is removed, it should catch up with the interest rates market," she says, which are pricing in three rate increases by the Bank of Canada this year. CAD has held its ground during the recent sixth phase of NAFTA talks. "I was holding on to the trade [during the talks] and it has paid off," says Ms. Childe-Freeman. CAD rises versus USD, with USD/CAD down by 0.5% at 1.2270 after Canadian November GDP showed a rise of 0.4% month-on-month on Wednesday.

Monday, January 8, 2018

RBC Capital Markets

Potentially higher euro rates volatility from "extremely low" levels at present and higher yields prompts RBC Capital Markets to recommend so-called payer swaptions: options to enter a swap and pay the fixed leg while receiving floating rates. Option premiums are cheap when volatility is low, as the underlying asset is less likely to move to in-the-money territory. And higher rates are beneficial for those paying fixed rate to receive floating

Thursday, January 4, 2018

pushes EUR/USD

A mix of upward revision of eurozone PMIs and higher than-expected U.S. jobless claims on Thursday pushes EUR/USD up 0.6% to 1.2087, just a shade below the September high of 1.2093, which would mark its highest in around three years, according to Factset. Eurozone December final composite PMIs were revised slightly upwards from the flash estimate to 58.1. And U.S. jobless claims rose by 250,000 during the last week of December, above forecasts in a WSJ poll for a 240,000 increase. Private sector jobs rose by more than expected, however, according to the ADP report.

Tuesday, January 2, 2018

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