IntelligentHQ Forex Week In Review In Association with OANDA Corporation
Report by Dean Popplewell
Dean Popplewell has a wealth of forex experience: professional currency trader for 10 years, fixed income trader for four years, and head of the global trading desks at various financial institutions in Canada. Dean is OANDA’s resident currency analyst and has been writingOANDA’s daily forex blog since January 2007 as a way to share some of his forex experience with the OANDA community.
Is this an ECB Set Up?
It seems that the FX market wants to end this week overlooking the negative Bundesbank opposition comments to the SMP and ESM banking license. Investors prefer to hold on to the hopes of new aggressive easing measures by the ECB. This market resilience is highlighting the high level of expectations for next week’s policy meetings.
EUROPE Week in FX
Where is the US growth coming from?
It seems that inventory growth has managed to add +0.32% to Q2 GDP growth. However, with consumer spending slowing and government outlays seen dropping, this scenario is managing to paint a picture of a recovery now struggling with too little demand and represents the beginning of slower production cycle.
AMERICAS Week in FX
China Risks US Revenge
Is the PBoC starting to guide the yuan downward outright against the dollar after two years of trying to boost its value? The move seems to be reflecting concern in Beijing over China’s slowing economy. Is this enough of an excuse to risk a political fight with the US? Market perception is beginning to think that way now that the yuan has been trading at the lower end of its government mandated range this week.
ASIA Week in FX
Forex Order Book
A 24-hour summary of open orders and positions
Forex Open Position Ratios