Analysts See USDJPY At 120 By Year End

The yen is the secondmost shorted currency and it could be about to rally says one currency strategistThe relentless recovery in U.S. equities from their December 2018 lows shows no sign of abating with major indexes now in striking distance of alltime highs.But one asset often correlated with equity markets and global sentiment in general the U.S. dollarJapanese yen cross rate USDJPY has sat out the rally and while traders continue to bet on it rise any hiccup in the equity rally could spell trouble for [read more]

European Council President Donald Tusk Offer Flexible 12 Months Extension

EU chief Donald Tusk to reportedly offer flexible 12month Brexit extension to UKEuropean Council President Donald Tusk has proposed to allow the U.K. the flexibility to leave the EU whenever British lawmakers approve and ratify a deal within the 12month period.European Council President Donald Tusk has proposed allowing the U.K. a 12month flexible extension to leave the European Union the BBC reported on Friday.Citing a senior EU source the BBC said leaders of the political and economic bloc would need to agree [read more]

British Pound Will Rally +3% If Brexit Go Through

Sterling will rally 3 percent if the Brexit gridlock is resolved and Britain looks likely to leave the European Union with a deal but the currency will tumble 5 percent if negotiations fail a Reuters poll found.The pound tanked after the June 2016 referendum result as predicted by Reuters polls beforehand and was trading at around $1.31 on Thursday far weaker than it was ahead of the vote.Since the decision to leave the pound has gyrated wildly on any Brexit news and largely shrugged off economic data including recent [read more]

March NFP, Friday 08:30 E.T. Here What You Need To Know

The Bureau of Labor Statistics delivers its latest reading on the U.S. labor market on Friday at 830 a.m. ET (2030 HKSG) Wall Street economists forecast the U.S. economy to added 175000 nonfarm payrolls in March wage growth of 0.2 0.3 percent and a lower unemployment rate at 3.7 3.8 percent.If the actual result is 175000 to 180000 it show a moderating from last years average of 220000. Its still a good number but not a 22000 or 225000 and that will means employment is cooling like [read more]

Chinese Vice Premier Liu He Says, 'New Censensus' On Trades Talk

Chinese Vice Premier Liu He met U.S. President Donald Trump at the White Houses Oval Office on Thursday.The two countries are trying to strike an agreement and end a potentially devastating trade conflict.Chinese President Xi Jinping through a message conveyed by Liu told Trump that both sides have made new and substantial progress on key issues regarding trade in the past month according to Xinhua.Chinese Vice Premier Liu He said a new consensus has been reached between China and the U.S. on the text of a trade [read more]

S&P 500 Could Hit 3,000 Next Month, According To JP Morgan.

Top J.P. Morgan strategist Marko Kolanovic predicts new highs ahead for the stock market.He says its possible the S&P 500 could hit his firms yearend price target of 3000 by the end of May.New highs are ahead for the stock market top J.P. Morgan strategist Marko Kolanovic told CNBC  Fast Money on Wednesday.In fact he said its possible the S&P 500 could hit his firms yearend price target of 3000 by the end of May.However a couple of things would need to happen such as a U.S.China [read more]

U.K. House Of Commons Approved Brexit Delay, GBP React Positively

Sterling won a boost after Conservative leader May declared late Tuesday she would look for another Brexit delay and softened her position ahead of Britains scheduled departure from the European Union next week.After her deal and many other options failed to win the British parliaments approval May changed tack by meeting with Britains opposition Labour Party leader Jeremy Corbyn to find a compromise on WednesdayThe announcement was winwin for the pound Oanda analyst Craig Erlam told AFP.Not only did May reaffirm her opposition to no deal shes [read more]

Trump Scheduled To Meet Chinese Vice Premier Liu He 16:30 E.T.

U.S. President Donald Trump is planning to meet with Chinese Vice Premier Liu He on Thursday according to a White House schedule.The event is scheduled to take place at 430 p.m. ET (0430 HKSG) in the Oval Office.That comes as Washington and Beijing appeared to be closing in on a deal that would put an end to their ongoing trade war.White House economic advisor Larry Kudlow told reporters Wednesday that Beijing had acknowledged that the United States has legitimate gripes about intellectual property theft forced technology transfer [read more]

Australia's RBA Keeps Rate Unchanged At 1.5%

Australias central bank keeps its cash rate unchanged at 1.5 percentAustralias central bank stuck to its neutral stance on Tuesday but acknowledged downside risks to growth have increased both globally and at home as local data showed shoppers kept their wallets tightly shut during Christmas.The Reserve Bank of Australia (RBA) trimmed its forecasts for growth and inflation in a sign that a rate hike was far off the horizon even as it met expectations in leaving policy at a record low 1.50 percent for a 30th [read more]

FOMC To Rise Rate Once In 2019 But Trump And His Advisers Are Calling For Rate Cut Now

Federal Reserve Chairman Jerome Powell is not having an easier time of it even after the central banks policy pivot boosted financial markets.The White House is now pressuring the Fed to cut interest rates rather than hold the line as is the current intention.Theres also the prospect that economic commentator Stephen Moore would bring a strong dissenting voice to the Federal Open Market Committee.Life isnt getting any easier for Federal Reserve Chairman Jerome Powell.The central bank chief fresh off a year of intense criticism from [read more]