US dollar is lower across the board today, following the latest economic data release. The economy continues to show solid improvement, and that should be encouraging a degree of risk appetite. However, other forces, like the possibility of a government shutdown and the possibility of the taper being held off until next year, seem to be weighing on the greenback instead. There’s a lot of uncertainty in the markets right now, but it’s not the sort of uncertainty … “US Dollar Lower Across the Board Following Data Release”
Month: September 2013
AUDUSD downwards correction could be near completion – Elliott
AUDUSD is in a bearish reversal mode since last Friday when the market completed a five wave recovery at 0.9528. As such, the contra-trend reaction has unfolded in three waves – a move that was expected as this is the minimum substructure of a corrective movement. Notice that now we have three waves down, with … “AUDUSD downwards correction could be near completion – Elliott”
Japanese Inflation Accelerates, Yen Higher
The Japanese yen rallied today as nation’s inflation accelerated, reducing incentive for the central bank to ease monetary policy and weaken the currency further. The Japanese consumer price index rose 0.8 percent in August from a year ago, while analysts have expected it to increase at the July rate of 0.7 percent. Meanwhile, the Tokyo CPI rose 0.2 percent in September, slower than in August (0.4 percent) and less than was predicted (0.3 … “Japanese Inflation Accelerates, Yen Higher”
Czech Koruna Gains as Central Bank Does Not Intervene
The Czech koruna gained today as the nation’s central bank kept monetary policy unchanged and refused to intervene by selling the currency. Chances for an intervention in the future remain high though. The Czech National Bank kept interest rates near zero at today meeting. Governor Miroslav Singer was calling for currency sales to aid economic recovery. For now, other policy makers voted down this offer. Probability of an intervention remains high as inflation continues … “Czech Koruna Gains as Central Bank Does Not Intervene”
Video: What’s next for currencies? Is the US heading for
In a chat with Dale Pinkert of FXstreet’s Live Analysis Room, we discussed the various currency pairs: the directionless EUR/USD, the pound’s pause after nice rise, the contradicting lines in USD/JPY and quite a few other currency pairs, discussing both technical trend lines and fundamental events. We also touched on the current political stand-off in … “Video: What’s next for currencies? Is the US heading for”
Euro Struggles on Credit Market, Italian Tensions
Euro is struggling today, especially against the US dollar, thanks in large part to the recent developments in the credit market, and due to more trouble in Italy. Concerns about what’s next for the eurozone are once again asserting themselves, and that is putting some pressure on the euro. The latest European Central Bank figures on lending indicate that it is dropping. Lending to businesses and households dropped by a record amount in August. Private sector … “Euro Struggles on Credit Market, Italian Tensions”
US Dollar Gains Ground on Latest Growth Report
US dollar is a little bit higher against its major counterparts today, gaining ground after the latest economic report from the second quarter of 2013. Although there isn’t anything particularly stunning in the report, the economic continues to show a steadiness that leads some to believe that the taper in the Federal Reserve’s asset purchase program is eminent. Overall US economic growth remained at 2.5 per cent for the second quarter … “US Dollar Gains Ground on Latest Growth Report”
NZ Dollar Rebounds on Rate Hike Bets
The New Zealand dollar climbed today, paring yesterday’s losses, on speculations that the nationâs central bank will be the first among banks of developed nations to raise interest rates. Speculators bet on 84 percent chance that the Reserve Bank of New Zealand will raise borrowing costs in the first half of the next year. It is surprising to see such optimism considering that just yesterday the outlook was rather pessimistic … “NZ Dollar Rebounds on Rate Hike Bets”
Debt ceiling clash positive for USD
No sooner had the Federal Reserve decided to maintain the pace of its quantitative easing programme that a new worry loomed in the forex markets and this time it is over the negotiations to raise the US debt ceiling – a process that should be supportive for USD. The political landscape is shifting towards a … “Debt ceiling clash positive for USD”
Sterling still too strong against the US dollar
Sterling lost ground soon after the release of UK GDP data with the pound falling from 1.6085 to 1.6040 soon after the release of data. The quarter-on-quarter figure was unrevised at 0.7% but the yearly rate was revised down to 1.3% from 1.5% and consequently Sterling lost ground after the announcement. Sterling also weakened due … “Sterling still too strong against the US dollar”