In its first estimates for 2025/26, the International Grains Council (IGC) forecasts corn production to increase from 1,217mt in 2024/25 to 1,269mt in 2025/26, ING’s commodity experts Ewa Manthey and Warren Patterson note. Markets expect greater output from Brazil, Argentina, […]
Global grain production estimates raised – ING Read More »
GBP/USD is down to a 5-day low, and 10-year gilts are underperforming. The UK fiscal backdrop is not pretty. Borrowing in the first eleven months of the 2024-25 financial year totaled £132.2 billion, reflecting both higher spending and lower tax
BOE keeps the policy rate steady at 4.50% – BBH Read More »
EUR/USD remains heavy near this week’s lows, BBH FX analysts report. Current account surplus is a natural source of underlying demand for EUR “However, encouraging Eurozone fiscal developments, and the favorable balance of payment backdrop suggest EUR/USD will find good support
EUR/USD may find good support at its 200-DMA – BBH Read More »
USD/CAD is consolidating around 1.4330, BBH FX analysts report. High inflation and unfavorable growth prospect are bad news for CAD “Bank of Canada (BOC) Governor Tiff Macklem delivered a cautious yet pragmatic speech yesterday. Macklem warned ‘Depending on the extent
USD/CAD is in its consolidation phase – BBH Read More »
USD/JPY edged up just under 150.00, BBH FX analysts report. USD/JPY faces important resistance around 152.00 “Japan February CPI was mixed and does not move the dial on BOJ rate expectations. Headline and Core ex. food CPI slowed less than
Yen downside is contained as the BOJ has low tolerance for a weaker JPY – BBH Read More »
The US Dollar (USD) is ending the week a little firmer overall—but still a bit shy of breaking out from the consolidation range in place since the start of the week, Scotiabank’s Chief FX Strategist Shaun Osborne notes. USD firmer
USD firmer but holds consolidation range – Scotiabank Read More »
The Canadian Dollar (CAD) is little changed on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes. USD can return back to the low/mid-1.42s “BoC Governor Macklem’s remarks on tariffs and monetary policy yesterday underscored the Bank’s sensitivity to the
CAD consolidates after USD’s failure to holds 1.44 test – Scotiabank Read More »
Spot continues to consolidate in the low 1.08s, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Germany approves spending plans “EU leaders failed to reach an agreement on a EUR5bn aid package for Ukraine last night, weighing on EUR sentiment somewhat.
EUR drifts near range base – Scotiabank Read More »
Government borrowing data revealed a larger than forecast GBP10.7bn net public sector borrowing in February, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Gilts weaker on government borrowing data “The UK’s budget deficit has reached GBP132.3bn in the first 11 months
GBP edges slightly lower – Scotiabank Read More »
GDP expanded 0.7% q/q in Q4, exceeding both our forecast (0.5%) and the RBNZ’s projection (0.3%). Services drove the rebound, growing 0.8% q/q, while construction remained a major drag (-3.1% q/q). The economy posted its first quarterly growth since Q1-2024,
Signs of a floor – Standard Chartered Read More »
