The Brazilian real fell today due to uncertainty about the outcome of the presidential elections that are scheduled to October 26. Current polls show that the incumbent President Dilma Rousseff has more voters, and this is not welcomed by investors. According to the latest surveys, Rousseff has 46 percent of votes and her opponent Aecio Neves has 43 percent. Most traders are not happy with prospects for victory of the current … “Brazilian Real Retains Weakness During Election Week”
Month: October 2014
NZ Dollar Extends Bounce from October’s Lows
The New Zealand dollar rose today, getting help from positive economic reports from China. While the currency slowed its rise as of now, it still trades above the opening level, extending its bounce from fresh lows that the currency has reached earlier this month. The New Zealand currency, together with its Australian peer, profited from China’s economic data. While not all indicators … “NZ Dollar Extends Bounce from October’s Lows”
Euro Drops as ECB Buys Covered Bonds
Yesterday, the ECB announced that it is buying covered bonds as part of a plan to try to keep the eurozone economy from sliding back into recession. This announcement is weakening the euro, and the 18-nation currency is down against its major counterparts. Mario Draghi, the President of the European Central Bank, has said on many occasions that policymakers are willing to take drastic steps in the name of economic support for the eurozone. Those … “Euro Drops as ECB Buys Covered Bonds”
Sell EUR/USD On Failure To Break 1.29 – SocGen
What is the next direction of EUR/USD after the big bounce? Some see it as running up to 1.31, but of course, not all agree. SocGen suggests selling euro/dollar upon a failure to breach 1.29: Here is their view, courtesy of eFXnews: The dollar index (DXY), peaked on the same day (Oct 3) as 2-year rates, notes SocGen. … “Sell EUR/USD On Failure To Break 1.29 – SocGen”
City Index Partners with Gold-i to Enhance MT4 Offering
MetaTrader 4 and G2 (the platform run by City Index) will now have a two way sync, thanks to a new partnership between Gold-i and City Index. For more, here is the press release: 21 October 2014 – City Index has partnered with Gold-i to launch a new two way synchronisation between MT4 and City Index’s … “City Index Partners with Gold-i to Enhance MT4 Offering”
USD/CAD: Range Intact S/T, Fresh Highs Into Year End –
The Canadian dollar didn’t have the best year, to say the least. Where is it headed next? The team at BMO sees the range as staying intact until year end, and explains: Here is their view, courtesy of eFXnews: The recent ranges continue to hold and Friday’s CPI numbers offered no surprises to lead to … “USD/CAD: Range Intact S/T, Fresh Highs Into Year End –”
China’s Data Makes Aussie Stronger
The Australian dollar advanced against its US counterpart for the third straight session today and rose against other most-traded currencies as well with the help of positive economic data from China. The Aussie was unable to maintain its rally versus the Japanese yen but kept rising against the greenback and the euro. Today, the National Bureau of Statistics of China released a report containing several important economic indicators. The most important of them was … “China’s Data Makes Aussie Stronger”
CAD Turns Down, Positive Data Doesn’t Help
The Canadian dollar started the week with losses against some of its major peers, including the euro and the Japanese yen, and continued to fall today. Monday’s economic data was positive, but it did not help the currency. The Canadian currency was falling last week, but has been supported by a positive inflation report by the weekend. The current week started with a release of another positive indicator, but this time favorable … “CAD Turns Down, Positive Data Doesn’t Help”
AUD/USD, NZD/USD: What’s Next For S/T Ranges? – JP
Both the Aussie and the kiwi have respected their trading ranges quite nicely. But is this here to stay? Not exactly, argues JP Morgan. The team sees a clear direction for both currency pairs. Here is their view, courtesy of eFXnews: Despite the jump in volatility over the past few weeks, AUD/USD and NZDUSD have … “AUD/USD, NZD/USD: What’s Next For S/T Ranges? – JP”
Russian Ruble Tumbles After Moody’s Downgrade
The Russian ruble sank today following Friday’s announcement from Moody’s about a downgrade of Russia’s credit rating due to the damage that sanctions from the United States and the European Union have done to the already fragile Russian economy. Moody’s Investor Service announced on October 17 that it downgrades Russia’s sovereign credit rating to Baa2 from Baa1. The rating agency cited following reasons for the decision: 1) Russia’s increasingly subdued … “Russian Ruble Tumbles After Moody’s Downgrade”