The US dollar seems to be second in the list of safe haven currencies, after the Japanese yen, and it is certainly not as strong as it used to be earlier in the month. Is it still overbought? The analysts at Credit Agricole certainly think so, and they are probably happy with the position they took … “USD: Overbought; Further Position Clearing Ahead – Credit Agricole”
Month: October 2014
Dollar Builds on Gains Against European Currencies
Once again, expected policy divergence is taking its toll on European currencies. The US dollar is gaining ground today, with dollar index heading higher and greenback making gains against its high beta counterparts in Europe. With the latest economic news out of the the United Kingdom and Germany, the US dollar index is gaining ground. The news out of the United Kingdom is lower than expected inflation data. … “Dollar Builds on Gains Against European Currencies”
Euro Mostly Lower as Germany Cuts Growth Forecast
Euro is losing ground against some of its counterparts as the latest economic data is released throughout the 18-nation currency zone. Even though Germany’s CPI reading met expectations, the country had to slash its growth forecast. The latest CPI data out of Germany indicates that inflation remains at 0.8 per cent month-to-month. This was an expected reading, so it’s not out of character and has little bearing … “Euro Mostly Lower as Germany Cuts Growth Forecast”
2 Reasons To Stay Long Sterling – Deutsche Bank
On one hand, UK unemployment fell in August, but the drop in jobless claims was disappointing. This is only part of the complex picture for GBP. And what’s the next direction? Deutsche Bank gives two reasons to stay long on sterling: Here is their view, courtesy of eFXnews: In a note to clients today, Deutsche Bank … “2 Reasons To Stay Long Sterling – Deutsche Bank”
EUR/USD: Sell Bounces; USD/JPY: Long Against Key Support –
EUR/USD is relatively stable as global stock markets and commodities tank. But this cannot continue for too long. Credit Suisse sees bounces as sell opportunities. USD/JPY managed to hold above support and CS suggests a long. Here is their view, courtesy of eFXnews: While EUR/USD is back under selling pressure, the pair would still need … “EUR/USD: Sell Bounces; USD/JPY: Long Against Key Support –”
GBP/USD: Trading the Average Earnings Index
British Average Earnings Index is an inflation index which measures the change in the price of goods and services charged to businesses and labor. A reading which is higher than the market forecast is bullish for the pound. Update: UK unemployment falls to 6%, earnings rise – GBP/USD advances Here are all the details, and 5 possible … “GBP/USD: Trading the Average Earnings Index”
Australian Dollar Fails to Rally
The Australian dollar was trying to rally earlier during the current trading session but failed and retreated to trade below the opening level as of now. Economic data and comments from central bank’s officials were playing against the currency and contributed to the decline. The National Australia Bank reported that business confidence fell “in the face of a persistently soft operating environment for many firms”. Guy Debelle, Assistant Governor at the Reserve Bank of Australia, signaled that … “Australian Dollar Fails to Rally”
Greece could creep back to the headlines on political
Greece is where the debt crisis all began. After a long period in the shadows, the nation in the south east of the euro-zone is seeing new trouble. A mix of political issues and some optimism that the country can walk on its own can brew into a clash with the rest of the European Union. The latest … “Greece could creep back to the headlines on political”
Swedish Krona Drops as Deflation Worsens
The Swedish krona dropped today as data revealed that deflation worsened last month in Sweden, increasing probability of monetary easing from the nation’s central bank. The Statistics Sweden reported that the inflation rate fell 0.4 percent in September after declining 0.2 percent in August. The poor data sparked talks that the Riksbank will likely have to reduce interest rates close to zero. Many analysts speculate that the central bank … “Swedish Krona Drops as Deflation Worsens”
EUR/USD Recoveries Are For Sale: Targets & Levels – JP
EUR/USD has managed to bounce from 1.25 but can it continue recovering or is it just a correction before the a bigger fall? The team at JP Morgan sides with the latter view stating that the recoveries are for sales and provide explanations and levels: Here is their view, courtesy of eFXnews: The defense of the main T-junction at … “EUR/USD Recoveries Are For Sale: Targets & Levels – JP”