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Simon Smith - Articles and news items

Fed keeps outlook steady

Daily Forex Brief: FxPro / 21 May 2015 / Simon Smith, FxPro

The April FOMC meeting minutes last night did little to change perception on the Fed, namely that a June rate hike is off the agenda (but not totally ruled out) and that the economy does not seem strong enough yet for them to start their much anticipated tightening cycle.

Some rays of light in Japan

Daily Forex Brief: FxPro / 20 May 2015 / Simon Smith, FxPro

With all the volatility elsewhere, the yen (and in particular USDJPY) has been notable for its stability.

QE front-loading pushing down euro

Daily Forex Brief: FxPro / 19 May 2015 / Simon Smith, FxPro

The single currency taking a bit of a beating early on, which has seen nearly one big figure taken off EURUSD.

The endless euro squeeze higher

Daily Forex Brief: FxPro / 18 May 2015 / Simon Smith, FxPro

The car crash that represents FX developments in Q2 looks set to continue, with price action in EURUSD the most pertinent representation of how the price action in FX over recent weeks has defied the conventional wisdom.

Further highs for cable

Daily Forex Brief: FxPro / 15 May 2015 / Simon Smith, FxPro

Thursday proved to be a steadier day for FX.

Going against the grain

Daily Forex Brief: FxPro / 14 May 2015 / Simon Smith, FxPro

So, once again the grand plan for the year (dollar strength) is close to tatters.

Declining patience with Greece

Daily Forex Brief: FxPro / 6 May 2015 / Simon Smith, FxPro

Two events are dominating the outlook for today. The first is Greece; the second is the impending UK election.

RBA cuts and moves to neutral

Daily Forex Brief: FxPro / 5 May 2015 / Simon Smith, FxPro

The UK Bank Holiday made for a flat-line on most majors yesterday.

The dollar impact on earnings

Daily Forex Brief: FxPro / 24 April 2015 / Simon Smith, FxPro

With the US in the depths of the earnings seasons, it’s noticeable once again the extent to which the dollar has been impacting some of the biggest US companies.

The importance of yields

Daily Forex Brief: FxPro / 23 April 2015 / Simon Smith, FxPro

The standout in yesterday’s trading was sterling, where the minutes to the latest MPC meeting pushed home the point that the next move in rates is going to be put, even if they gave little away in terms of timing.

Potential for sterling

Daily Forex Brief: FxPro / 22 April 2015 / Simon Smith, FxPro

The stand-out in overnight trade has been the rise in the Aussie, which gained some comfort from the better than expected print on CPI data.

Tighter ranges on majors

Daily Forex Brief: FxPro / 10 April 2015 / Simon Smith, FxPro

We are seeing daily ranges in major FX pairs move lower as the dollar continues in what can best be described as a corrective phase.

The more difficult path for FX

Daily Forex Brief: FxPro / 9 April 2015 / Simon Smith, FxPro

The Fed minutes last night revealed that “several” Fed members wanted to raise interest rates as early as June.

Easter Nonfarm Payroll

Daily Forex Brief: FxPro / 2 April 2015 / Simon Smith, FxPro

The business week finishes today for many ahead of the extended Easter week end, however nonfarm payrolls are still to be released tomorrow.

Euro’s April Fool

Daily Forex Brief: FxPro / 1 April 2015 / Simon Smith, FxPro

Markets looks to be making an inauspicious start to the second quarter after a first quarter that ended on a risk averse note, certainly for equity markets and to some degree the Yen.