Posted Oct 22, 23:11

BoC No Reason to Buy CAD, China PMI Next

Markit Manufacturing PMI (OCT) [P] Oct 23 13:45
Markit PMI Composite (OCT) [P] Oct 23 13:45
Markit Services PMI (OCT) [P] Oct 23 13:45
PMI (OCT) [P] Oct 23 01:45
Eurozone Markit PMI Composite (OCT) [P] Oct 23 08:00
Eurozone Markit PMI Manufacturing (OCT) [P] Oct 23 08:00
Eurozone Markit Services PMI (OCT) [P] Oct 23 08:00
More Events...
6 hours ago: 

The Canadian dollar rallied after the Bank of Canada decision but there was nothing in the documents pointing to a more hawkish BOC. The US dollar led the forex market on the day while the euro lagged. The NZD is lower in early Asia-Pacific trading on CPI data. CAD took the attacks in Canada's parliament in stride, while the major news of the week will likely be tonight's China flash HSBC manufacturing PMI and tomorrow's services PMI from the Eurozone. A new set of Premium Insights will be released tonight. All two GBPUSD remain in progress and nearing the final targets, following the BoE minutes and Thursday's UK retail sales. AUDUSD and NZDJPY also remain in progress.

The main headline from the BOC was the removal of the explicit “neutral” reference but it was simply replaced by other words that say the exact same thing. Moreover, Poloz warned that explicit forward guidance would be removed before the decision so it should have been no surprise.

PREMIUM INSIGHTS Update: Oct 23, 0:36
Connecting the Dots in the Dollar Disconnect Oct 21, 2014 22:53: 

Stocks cheered on Tuesday in the largest gain in a year but the response remains lukewarm in FX and bonds. The Canadian dollar was the top performer while the Swiss franc lagged. The focus will be on the Aussie in the hours ahead with the CPI report due.  Our Premium trades remain AUDUSD, GBPUSD and NZDJPY. A new set of Premium  trades  shall be issued on Wednesday night.   


Fed to Stay the Course, China GDP Next Oct 20, 2014 23:46: 

The main headlines Monday were from Fed members rejecting Bullard's talk of delaying the end of the taper but markets were unfazed. The US dollar was the laggard while the kiwi led the way as stocks drove upbeat risk appetite. The focus now switches to China with Q3 GDP due.  Our ongoing in Premium trades remain AUDUSD, GBPUSD our most recent Premium trades, there are 2 GBPUSD, AUDUSD and NZDJPY. A new set of Premium  trades  shall be issued on Wednesday night.    Fed members Rosengren and Fisher – on opposite sides of the hawk/dove spectrum – both underscored a willingness to continue tapering heading into the trading week. That could have boosted the dollar and hurt risk assets. IT giant IBM also warned on profits in a blow to hopes for business investment.