HALISTER1: USD/KRW Forms Bullish Golden Cross Before BOK Decision: Charts

USD/KRW Forms Bullish Golden Cross Before BOK Decision: Charts

(Bloomberg) -- USD/KRW is poised to rally in medium term after 50-DMA rises above 200-DMA, forming a golden cross, Bloomberg strategist David Finnerty writes.
  • Advance is likely even if BOK keeps rates unchanged on Thursday, as economists predict
  • If the rally resumes, pair will first eye test of Nov. 21 high of 1,186.93, with a breach leading to test of 1,198.05 May 31 high
  • In near term, USD/KRW may consolidate given signs dollar’s recent rally may be topping out
  • BOK will leave its 7-day repo rate at 1.25%, according to all 19 economists surveyed by Bloomberg
    • Central bank has to juggle cutting rates to help bolster the economy where indebted companies are restructuring, with keeping them on hold to help support the currency
  • NOTE: David Finnerty is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: Fattah Sentenced to 10 Years in Corruption Case

Fattah Sentenced to 10 Years in Corruption Case

Alert: HALISTER1
Source: BNA (Bloomberg BNA)

People
Chaka Fattah (United States House of Representatives)
Harvey Bartle ((US)Dist Court:PA-Eastern)
Leslie Caldwell (United States Department of Justice)
William Jefferson (United States House of Representatives)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER1: Strong Jobs Data Needed for Aussie to Breach 100-DMA: Analysis

Strong Jobs Data Needed for Aussie to Breach 100-DMA: Analysis

(Bloomberg) -- A test of AUD/USD 0.7577 100-DMA is possible if an Australian November jobs beat ties together a tame Fed statement and strength in commodities, writes Bloomberg strategist Michael G. Wilson.
  • Aussie TWI, while elevated at 65.40, is still below 1-yr high of 65.50 seen Oct. 26, when the currency was above 0.76 and the 100-DMA
  • Since then, rising terms of trade and national income from improved commodity prices have insulated AUD from USD strength
  • A major hurdle to RBA’s inflation target has been the domestic drag from weak jobs and wages growth
    • Were jobs to show signs of improvement, and Janet Yellen also unveil a Fed dot plot path that misses expectations for 2 increases in 2017, AUD/USD should find itself north of the 0.7577 100-DMA; spot currently steady at 0.7500
    • Yellen spent a good part of her October speech in Boston talking about running “a high pressure economy,” making the point that it could boost productivity growth and improve the U.S. labor market
  • Australian employers probably added net 17.5k jobs in November versus 9.8k in October, according to Bloomberg survey; ests. range from +5k to +35k; data due Thursday at 11:30am local
    • Unemployment rate seen unchanged at 5.6%
  • A caveat to this view would be a poor balance between full- time and part-time jobs, or deteriorating underemployment
  • NOTE: Michael G. Wilson is an FX strategist who writes for First Word. The observations he makes are his own.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Janet Yellen (Federal Reserve System)

To de-activate this alert, click here

UUID: 7947283