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China slow gaining speed! AUD Employment dismal AUD can't keep holding rates pressure building Technicals on the chart!
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Spill over effect could slow down the rate hike expectation from the BOE.
This should keep yen pinned down in medium term. Risk aversion has kept yen propped but that will soon subside. GBP side - we will start seeing more chatter to roll in for possible rate hikes from BOE. Data strength and case is building. Technical: GBPJPY has been selling for no particular reason minus Risk Aversion. Strong bounce off the 50 dma.
Fundamental have not changed long term. Don't forget a little thing called QE. Sept 2016! We started off last month with weak US data but we are slowing see an uptick as predicted. Personal spending will start rebounding in the next few months which will put the pressure to raise rates. Job creation should also see an uptick which will lend to September rate...
GBP Strong data print Gross Domestic Product (YoY) Expected - 2.4% vs 2.9% Gross Domestic Product (QoQ) Expected - 0.3% vs 0.4% CHF - Negative deposit rate + Negative implications of floor removal. EURGBP (-80%) correlation
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