The European Central Bank kept its monetary policy unchanged during today’s meeting, providing no surprise for Forex market participants. Yet the press-conference after the gathering was a real shocker as ECB President Mario Draghi made several dovish statements, sending the euro to fresh lows. The shared 18-nation currency managed to gain the Great Britain pound. The ECB left its main interest rate close to zero, a decision that was … “Euro Hits New Lows vs. Dollar After Mario Draghi Speaks”
Month: November 2014
US Dollar Settles Down
US dollar is settling down a little bit after yesterday’s surge. Right now, it’s a bit about profit taking as Forex traders gear up for the next round of economic data, and contemplate the future of the eurozone. Greenback is trading mixed today, but it is mostly lower against its major counterparts. The US dollar is settling down today, after a rally yesterday following the GOP sweep in yesterday’s … “US Dollar Settles Down”
Euro Gets a Little Boost Ahead of ECB Annoucement
Euro is getting a little bit of a boost today, heading higher head of the ECB announcement that is expected shortly. The 18-nation currency is heading a little higher, in spite of recent disappointing factory data, and the possibility that the ECB will have to add more stimulus. Even though many expect that the ECB will announce more economic stimulus measures, weakening the euro in the long run, for now, many think that … “Euro Gets a Little Boost Ahead of ECB Annoucement”
NZ Dollar Rebounds, Hangs Near Opening
The New Zealand dollar gained ground after falling to the lowest in more than two years versus the US dollar today but is currently struggling to rise above the opening level without support of fundamentals. The New Zealand dollar followed its Australian peer in recovery from multi-year lows. Unlike the Aussie, the kiwi did not have supportive domestic data and was demonstrating weaker performance as a result. Traders wait for a monetary … “NZ Dollar Rebounds, Hangs Near Opening”
Expect Draghi To Prevail; Staying Short EUR/USD targeting 1.18
The euro enjoyed reports that ECB president has been cornerned by the German orthodox central bankers and that he can’t push more stimulus. Is this indeed the case? The team at BNP Paribas thinks that Draghi is set to prevail, explains why, and leaves its low target intact: Here is their view, courtesy of eFXnews: The EUR bounced … “Expect Draghi To Prevail; Staying Short EUR/USD targeting 1.18”
AUD/USD Bounces from Four-Year Low
The Australian dollar bounced today after touching the lowest level in more than four years against its US counterpart. Australia’s employment data released during the current trading session was rather positive and contributed for the Aussie’s bounce. Australian employment grew by 24,100 jobs in October, a bit more than was anticipated by analysts. The unemployment rate remained stable at 6.2 percent. The currency rebounded from its lows with the help … “AUD/USD Bounces from Four-Year Low”
Did Bundesbankers only vent frustration, unable to stop the
Euro-zone central bankers are unhappy with Draghi’s “leadership style”, especially around the release of the hint about the ECB’s balance sheet. When the headline hit the wires, EUR/USD leaped on fears that Draghi couldn’t be able to deliver QE or any additional monetary stimulus. But perhaps the German Bundesbank, which is most likely behind the publication, … “Did Bundesbankers only vent frustration, unable to stop the”
AUD/USD: Trading the Australian jobs Nov 2015
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Update: Australia enjoys jobs gain of 24.1K – AUD/USD rises from the abyss Here are the details and 5 possible outcomes for … “AUD/USD: Trading the Australian jobs Nov 2015”
USD/JPY – where does it end? Divergence between central
Last week could well set the tone for the forex markets into next year with a very definite divide opening up between the monetary policies of the various major central banks. Divergence in monetary policy spells the long trends in forex markets beloved by traders. The most extreme divergence among the major central banks is … “USD/JPY – where does it end? Divergence between central”
Loonie Drops Against Greenback as Oil Prices Continue to Fall
Loonie is once again heading lower against the greenback, thanks in large part to oil prices. Even though the Canadian dollar is struggling against its US counterpart, though, it is gaining ground against European currencies. Concerns about what’s next in Europe, especially with sluggish Chinese data and policy statements coming tomorrow, are weighing on currencies across the pond. Canadian dollar is struggling as oil … “Loonie Drops Against Greenback as Oil Prices Continue to Fall”