... from the IDEApro Suite
[USD] Fed speakers positive though data-dependent
[USD] Since the July 27-28 FOMC meeting, there have been some interesting ideas brought forward by the Fed. At that time, Chair Jay Powell raised the issue that the current inflation rate was 'well above 2%' for the essentially the wrong reasons - it is being 'driven by a supply shock'. Basically, Chair Powell set forward a narrative - supply shocks are driving the situation, but supply shocks abate as production catches up and over time inflation subsides.
8/4/2021 8:02:18 PM
[FRX] Forex market outlook - 5 August
[FRX] The USD was up and down like a yo-yo, first drifting higher in early European trading, then toppling on news of a much-lower-than-expected rise in US Jul ADP employment, before bouncing back up late in the session on Fed Vice Chair Clarida's hawkish remarks that caused market players to bring forward their expectations of the timing of the first Fed funds rate increase. - Please see our forex market outlook below.
8/4/2021 5:05:14 PM
[EUR] Retail sales rise further in June, but…
[EUR] Eurozone Jun retail sales (released Weds) rose by 1.5% m/m following a downwardly revised 4.1% in May (prev 4.6%), undershooting the market prediction of 1.7%. This took the annual rate down to 5.0% y/y, from a downwardly revised 8.6% in May (prev 9.0%). This recent outcome implies that Q2 aggregate Eurozone retail sales expanded by 3.4% q/q, a firmer reading than Q1, which recorded a fall of (-)1.3%. In principle, this latest development should be interpreted as EUR supportive.
8/4/2021 3:56:10 PM
[GBP] UK: A less dovish BoE MPC tone in prospect?
[GBP] This week's UK BoE MPC meeting should end in the decision announcement (on Thurs at 11:00GMT) to maintain the official Bank Rate at 0.1% and keep the target for the stock of asset purchases unchanged at GBP895bn -- GBP875bn for Gilts and GBP20bn for investment grade corporate bonds. Whilst the decision on the Bank Rate is likely to be a unanimous (8-0) one, the vote on the target stock of Gilts purchases could be split, with one or possibly two members likely to appeal for a GBP50bn reduction, as previously requested by erstwhile BoE Chief Economist Haldane.
8/4/2021 2:15:41 PM
IDEAglobal clients have been asking if we could make some revisions to the FX service
on Thomson Reuters (IDEAFX). In response we have added a number of benefits for you:
- Streamlined product structure for ease of use.
- Reordered technical pages to allow users to more quickly review our technical calls on major FX pairs.
- Daily CNH analysis (IDEAFX70) in light of the surge in FX volume seen in the offshore market over recent quarters.
Download the IDEAFX product guide here.
IDEAglobal products on Bloomberg
IDEAglobal products can now be accessed on Bloomberg in two ways:
1. NH IDE. This will pull up all of IDEAglobal’s research in a newswire format, from which you can scroll down and click onto the analysis or strategy piece of interest. Additionally, based on your subscription you will also have access to IDEAglobal research within relevant Bloomberg news feeds.
2. IDGL. This provides a menu for IDEAglobal’s products, arranged by their key sections: FastTrack, Fundamental Analysis, Technical Analysis, and Strategy. This then allows the user to drill down to specific articles on the markets covered by IDEAglobal. (See example here.)
IDEAglobal's main products are:
• FX and FX options - G10 and EM foreign exchange markets
• Global Rates - G10 money and government debt markets
• EM Asia - FX and debt markets in Emerging Asia
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