XE Market Analysis: The Currency Market is Calm Ahead of Significant Moves from the Fed

OVERVIEW The greenback is trading flat against most major currencies as the Fed starts two days of meetings. Canadian inflation surprises to the upside, boosting the loonie to a two-day high. Profit-taking trading activities weighing on Gold, down $2.50 an ounce.

Source: XE news feed
XE Market Analysis: The Currency Market is Calm Ahead of Significant Moves from the Fed

XE Market Analysis: North America – Jun 19, 2019

The Dollar has seen moderate softness against the Euro, Yen and Sterling, among other currencies, while holding net steady against the Dollar bloc units, in what has been subdued pre-Fed announcement trading in forex markets. EUR-USD nudged above 1.1200, lifting out of the 16-day low seen yesterday at 1.1181, which was the product the eyebrow-raising dovish about-turn of ECB’s Draghi yesterday. USD-JPY drifted moderately lower, to levels around 108.25-35 after scaling intraday highs just above 108.60 in Tokyo trading.

Source: XE news feed
XE Market Analysis: North America – Jun 19, 2019

XE Market Analysis: Europe – Jun 19, 2019

Narrow ranges have been prevailing among the main currencies, despite Wall Street closing strongly higher, the MSCI Asia-Pacific index hitting five-week highs, the 10-year Bund yield hitting a record low, and a the 10-year U.S. note yield printing a its lowest closing level in 21 months. USD-JPY has drifted moderately lower, to levels around 108.35 after scaling intraday highs just above 108.60 earlier in Tokyo trading. The dip reflects a pick up in demand for the Yen, which has also seen EUR-JPY and AUD-JPY drift back from intraday highs.

Source: XE news feed
XE Market Analysis: Europe – Jun 19, 2019

Japan’s ‘cars for cows’ trade deal with US could neutralise Australia’s beef tariff advantage

It’s looking increasingly likely that Japan will soon strike a trade deal with the United States that could strip away Australia’s hefty tariff advantage in beef exports to our largest export market. ..Read More

Source: Beef Central
Japan’s ‘cars for cows’ trade deal with US could neutralise Australia’s beef tariff advantage

XE Market Analysis: Asia – Jun 18, 2019

The Dollar headed higher ahead of the N.Y. open on Tuesday, led by EUR-USD losses following dovish comments from ECB’s Draghi. The DXY topped at 97.76 from overnight lows of 97.37. EUR-USD ranged between 1.1183 and 1.1212 through the N.Y. session. USD-JPY was boosted to 108.67 highs from 108.06 following a Trump tweet saying he will meet with China’s Xi at the G-20 next week to discuss trade. Stocks rallied sharply on the news, supporting USD-JPY in the process. USD-CAD printed 1.3375 lows, as WTI crude surged as much as 4%.

Source: XE news feed
XE Market Analysis: Asia – Jun 18, 2019

XE Market Analysis: North America – Jun 18, 2019

The Dollar traded firmer by virtue of the Euro taking a tumble amid a mix of soft Eurozone data and dovish remarks from ECB President turn, the Pound taking a hit as it becomes ever more likely that arch Brexiteer Boris Johnson will be the new UK prime minister, and the Australian Dollar taking a spill following the release of the RBA’s June-meeting minutes, which signalled that a follow-up rate cut is in the works. Amid this, the USD index floated to a 15-day peak at 97.73, making this the fifth consecutive day of higher highs.

Source: XE news feed
XE Market Analysis: North America – Jun 18, 2019

XE Market Analysis: Europe – Jun 18, 2019

Sterling has hit fresh lows, and the Yen has remained bid amid a backdrop of continued sputtering in global stock markets. The Pound tumbled to fresh five-month lows against the dollar, Euro and Yen. Cable’s low is 1.2512, with the pair showing a week-on-week decline of more than 1.5%. Markets are continuing to adjust to the recent ratchet higher in risks for the UK leaving the EU without an agreement on divorcing terms or an outline for a future trading relationship, which would see the nation adopt trading on WTO terms.

Source: XE news feed
XE Market Analysis: Europe – Jun 18, 2019

Woodward Foods in expansion mood, following deal with Chinese investor

Victorian lamb and beef processor Woodward Foods has completed a deal to sell a 49pc minority shareholding in the diversified business to a substantial Hong Kong based Chinese investor. The completion of the deal will provide a capital base for Woodward to embark on an expansion plan for both beef and sheepmeat production, targeted primarily at China. ..Read More

Source: Beef Central
Woodward Foods in expansion mood, following deal with Chinese investor

XE Market Analysis: Asia – Jun 17, 2019

The Dollar was largely rangebound in N.Y. trade on Monday, though came under some selling pressure following a sharply lower Empire State index, and softer housing data. The DXY managed a 97.35 to 97.52 trading band. EUR-USD topped at 1.1247 after the data, later dipping to lows under 1.1220. USD-JPY ranged between 108.72 and 108.53, while USD-CAD hovered near 1.3400. Cable printed 5-month lows of 1.2554. We expect the Dollar to consolidate ahead of Wednesday’s FOMC announcement, where no rate changes are expected.

Source: XE news feed
XE Market Analysis: Asia – Jun 17, 2019

XE Market Analysis: USD Rallies then Falls Ahead of FOMC Meetings on Wednesday

OVERVIEW Interest rate announcements are on the docket this week from the UK and Japan Fed meetings starting on Wednesday expected to focus on US-China trade and tariffs and setting the groundwork for lowering interest rates. The Bank of England is expected to hold interest rates. even as economic growth weakens and inflation exceeds targets HIGHLIGHT

Source: XE news feed
XE Market Analysis: USD Rallies then Falls Ahead of FOMC Meetings on Wednesday

XE Market Analysis: North America – Jun 17, 2019

Trading has been directionally unambitious so far today, with the Dollar consolidating a recent phase of outperformance against other currencies. Stock markets have been narrowly mixed in Europe and Asia, as have S&P 500 futures. The FOMC, BoJ, and BoE all meet this week and though none are expected to change rates, markets will be eager to gauge any shift in tone.

Source: XE news feed
XE Market Analysis: North America – Jun 17, 2019

XE Market Analysis: Europe – Jun 17, 2019

Narrow ranges have been prevailing in quiet early-week trading, with the Dollar consolidating a recent phase of outperformance. Stock markets have been mixed in Asia, while S&P 500 futures are showing modest declines. The FOMC, BoJ, and BoE all meet this week and though none are expected to change rates, markets will be eager to gauge any shift in tone.

Source: XE news feed
XE Market Analysis: Europe – Jun 17, 2019

XE Market Analysis: Asia – Jun 14, 2019

The Dollar index climbed to two-week highs in N.Y. trade on Friday, with decent incoming retail sales and industrial production supporting. In addition, pre-weekend safe-haven USD buying was apparent,with traders loading up on the back of geopolitical risk, especially in the Mideast. The DXY rallied to 97.58 highs, after bottoming at 97.08 ahead of the early data. EUR-USD fell from 1.1257 to 1.1203 lows, while USD-JPY struggled some on moderately risk-off conditions, topping at 108.58. USD-CAD topped over 1.3400, while Cable printed better than two-week lows of 1.2588.

Source: XE news feed
XE Market Analysis: Asia – Jun 14, 2019

XE Market Analysis: North America – Jun 14, 2019

Both the Dollar and Yen outperformed while the Australian Dollar led the biggest loser list out of the main currencies as a safe-haven theme swept back over global markets. This followed the release of disappointing industrial production data out of China, which fell to a 17-month low growth rate, shining a fresh light on the impact that the trade war with the U.S. is having on the world’s No. 2 economy. The U.S. also accused Iran for the attacks on two oil tankers yesterday, which has upped the ante in Mideast geopolitics. Fresh record yield lows on Australian bonds were…

Source: XE news feed
XE Market Analysis: North America – Jun 14, 2019

XE Market Analysis: Europe – Jun 14, 2019

The Australian Dollar continued to weaken amid a backdrop of misfiring equity markets in Asia, led by a decline in the major Chinese indexes ahead of the release of Chinese production and retail sales data (due 07:00 GMT) that are expected to shine a fresh light on the deleterious impact that the trade spat with the U.S. is having. AUD-USD and AUD-JPY, both widely seen as liquid forex market proxies no China and broader risk appetite in global markets, printed respective three-week and four-month lows, at 0.6892 and 0.7465.

Source: XE news feed
XE Market Analysis: Europe – Jun 14, 2019

Grassland Society to hear of silver lining for livestock producers

Australian livestock producers might be enduring the worst drought in history, but the Grassland Society of Southern Australia’s annual conference in Victoria next month will hear forecasts of a silver lining on the horizon. Independent meat and livestock analyst, and Beef Central columnist Simon Quilty will tell the conference that beef prices are likely to hit record levels about two years after the drought breaks…Read More

Source: Beef Central
Grassland Society to hear of silver lining for livestock producers

Controlling kangaroos is essential to increase carbon flows

Alan Lauder, experienced grazier and author of the book “Carbon Grazing – The Missing Link”, looks at the influence of kangaroo populations on soil carbon levels, livestock methane emissions and pasutre management in drought, and why control measures are in the best interests of environmental outcomes. ..Read More

Source: Beef Central
Controlling kangaroos is essential to increase carbon flows

Recruitment: Where is the gender balance up to in Australian ag?

More women than ever before are now choosing professions in the agricultural sphere, fulfilling roles which are highly technical, and developing and displaying extremely advanced skillsets. With this in mind, it should follow that females are now highly sought after employees, and that their employment rate in this industry is high, recruitment specialist Agricultural Appointments suggests..Read More

Source: Beef Central
Recruitment: Where is the gender balance up to in Australian ag?

XE Market Analysis: Asia – Jun 13, 2019

The Dollar gained a little traction in N.Y. on Thursday, with the DXY heading from opening lows of 96.90 to one-week highs of 97.08. The Greenback edged higher despite softer Treasury yields, which were helped lower by soggy import price data. We have seen gradual USD short covering in place this week, ahead of the FOMC next week, and after fairly sharp losses seen since the beginning if June. EUR-USD printed 1.1269 lows, down from over 1.1295, as USD-JPY was largely range bound, falling under 108.35 late in the session.

Source: XE news feed
XE Market Analysis: Asia – Jun 13, 2019

Vegie burgers and sustainability are opportunities for natural meat protein

AUSTRALIA’S red meat sector should not over-react to animal activism or veganism, but nor should it underestimate the advent of alternative proteins or the importance of sustainability, the first Herefords Australia Beef Forum was told at Hamilton yesterday…Read More

Source: Sheep Central
Vegie burgers and sustainability are opportunities for natural meat protein

XE Market Analysis: North America – Jun 13, 2019

The Dollar has held net steady versus the Euro and Yen, paring intraday losses in the case against the latter, while AUD-CAD dropped quite sharply amid the juxtaposition of record lows in Australian sovereign debt yields and a Loonie-supporting 2.5%-plus rally in oil prices. AUD-CAD was showing over a 0.6% loss heading into the New York interbank open, earlier printing a five-week low at $91.86. The Aussie buck was dented by the yield on 3-year Australian sovereign debt dropping below 1% for the first time ever, while hopes that the U.S.

Source: XE news feed
XE Market Analysis: North America – Jun 13, 2019

XE Market Analysis: Europe – Jun 13, 2019

The Australian Dollar has underperformed so far today, dropping nearly 0.5% against the Yen, which remained an outperformed amid a backdrop of sputtering stock markets in Asia. AUD-JPY pegged a fresh five-month low at 74.77. AUD-USD concurrently printed a two-week low at 0.6904 and USD-JPY a three-day low at 108.16. The Aussie buck was dented by the yield on 3-year Australian sovereign debt dropping below 1% for the first time ever, while hopes that the U.S.

Source: XE news feed
XE Market Analysis: Europe – Jun 13, 2019

Red meat industry needs to sharpen response to changing consumer preferences

MLA managing director Jason Strong told yesterday’s Herefords Australia forum that the red meat sector should not over-react to animal activism or veganism or the advent of alternative proteins, but the bigger changes in consumer preferences were in the amount of information about food that is available and wanted, and the expectations on how it was produced…Read More

Source: Beef Central
Red meat industry needs to sharpen response to changing consumer preferences

When is a drought man-made?

An unexpected outcome and a sobering email prompted RCS’s Terry McCosker to ask, “What has caused our National Estate to be in the condition it is in?” Many would say lack of rain, but Terry disagrees…Read More

Source: Beef Central
When is a drought man-made?

XE Market Analysis: Asia – Jun 12, 2019

The Dollar came under pressure early in N.Y. trade on Wednesday, following a cooler core U.S. CPI outcome. The CPI print kept potential Fed rate cuts front and center, weighing on the Greenback generally. Later, a round of USD short covering stepped in, taking the DXY to highs of the week at 96.97, up from early lows of 96.59. EUR-USD topped at 1.1340, later falling to 1.1290, while USD-JPY ranged between 108.26 and 108.54. USD-CAD rallied over 1.3320 from 1.3274 lows as oil prices stayed down, while Cable peaked at 1.2759, later dropping under 1.2685.

Source: XE news feed
XE Market Analysis: Asia – Jun 12, 2019

XE Market Analysis: North America – Jun 12, 2019

The Yen has seen a modest outperformance as a risk-back-off theme ensued in global markets, while the Dollar picked up bids at the expense of the Euro, which came under pressure after German and Portuguese auctions of 10-year paper produced record low yields. The Aussie and other commodity currencies saw moderate underperformance, correlating with declines across global equity bourses. The biggest mover out of the main Dollar pairings and associated cross rates was AUD-JPY, which is an effective forex market barometer of risk appetite in global markets.

Source: XE news feed
XE Market Analysis: North America – Jun 12, 2019

XE Market Analysis: Europe – Jun 12, 2019

A modest risk-back-off theme descended, which drove a bid for Yen and offers for commodity currencies. The biggest mover out of the main Dollar pairings and associated cross rates we monitor has been AUD-JPY, which is an effective forex market barometer of risk appetite in global markets. The cross ebbed by over 0.3% in making an eight-day low at 75.24. USD-JPY printed a two-day low, at 108.30. EUR-USD, meanwhile, edged out a three-session high at 1.1340, while Cable printed an intraday peak at 1.2730.

Source: XE news feed
XE Market Analysis: Europe – Jun 12, 2019