Daily Forex Brief: FxPro
Simon Smith, Chief Economist, FxPro
Simon Smith, Chief Economist
Simon has over seventeen years experience of macro forecasting and investment strategy research. Prior to joining FxPro in May 2010, Simon was a consultant with Thomson Reuters, having spent four years as Chief Economist at Weavering Capital.
He has held economic and strategy positions with Standard & Poor’s, together with consultancy firms 4Cast and MMS International.
Simon holds an MSc. in Economics from the University of London and a BSc. from Brunel University.
Michael Derks, Chief Strategist
Michael joined FxPro in May 2010 having been previously at Deutsche Bank, Rothschild and Schroders.
Michael Derks, Chief Strategist, FxPro
He is a multi-discipline investment and market strategist/economist with extensive expertise in FX, strategic and tactical asset allocation, fixed income, equities, property and alternative assets.
An accomplished economic and investment writer and researcher, Michael holds a Bachelor of Economics degree from Macquarie University in Sydney.
24 May 2013
In the early part of the yen depreciation story towards the end of last year, USDJPY and the stock market moved very much in tandem and it was more the yen that was driving the stock market, as firms anticipated better export prospects as a result...
23 May 2013
The GDP revisions today will be watched for potential revisions, but risks are small in our view.
22 May 2013
The market will focus on the minutes of the May MPC meeting for signs of a softening from those pushing for more asset purchases over the past 3 months.
21 May 2013
It’s been something of a fight but sterling has been struggling to keep its head above water after last week’s more upbeat news from the Bank of England, fighting against the stronger tone of the dollar.
20 May 2013
The big focus this week is on the dollar and for signs that the US central bank could start slowing down the pace of monthly asset purchases.
17 May 2013
The Aussie has had a tough time of it this week, down nearly 3% vs. the dollar. The price action seen is indicative of longer-term investors bailing out of positions on the back of the move below parity.
16 May 2013
The inflation data is the final number, so not likely to be a market moving event, but if revised lower it could dent the euro a little as expectations of further stimulus measures from the ECB (negative deposit rate) resurface.
14 May 2013
The Australian budget is presented later this morning and as we wrote about yesterday, the fiscal situation is one of the reasons that the shine has come off the Aussie recently.
13 May 2013
Even before Friday’s break of the parity level on AUDUSD, significant changes were underway on the Aussie which had lead it to be the weakest performer on the majors over the past month.
13 May 2013
The forex market has been breaking down barriers over the past few sessions following on from a period of reticence.
10 May 2013
Yesterday saw the strongest 1 day dollar appreciation since late 2011, going by the DXY dollar index. The better claims data were supportive, with more stops triggered in the market as USDJPY breached 100 and the Aussie broke to 10 month lows.
9 May 2013
Overnight into Friday there will once again be a focus on the weekly Portfolio data from Japan. The thinking was that the weaker yen would entice investors abroad for returns, but so far this has not proven to be the case.
8 May 2013
Focus on the German production numbers after the stronger orders data yesterday gave the euro a lift, although it was notable that the euro failed to sustain the gains later on.
7 May 2013
The Australian central bank cut its benchmark rate by 0.25% to 2.75% overnight in a move that was not fully anticipated by markets.
3 May 2013
Thursday was a roller-coaster of a day thanks to the ECB. The fact that the more outsized reaction initially was on the yen suggests the market was wrong-footed on several fronts by the initial positive reaction turning into a negative one for the single currency.