The euro is looking to recover on some positive news regarding Greece. However, this happiness may not last too long, says the team at RBS. Here is their rationale: Here is their view, courtesy of eFXnews: “Traders may have been reluctant to chase traditional growth currencies since they can see rate rises coming in the … “EUR Looking Heavy With General Bearish Price Action –”
Month: February 2015
UK Pound Struggles with Speculation on Political Outcomes
UK pound is struggling today, heading lower against the dollar and the euro as the general elections are looked forward to, and as expectations of a rate hike from the Bank of England are pushed out toward the fourth quarter of 2015. Right now, there is a lot of speculation about what’s next for the UK pound. Policy is a bit unclear, and many are watching for a ramp up of political season. The outcome of May’s General Election … “UK Pound Struggles with Speculation on Political Outcomes”
USDCAD: Bullish, Follows Through On Strength
USDCAD: Having halted its correction to close higher the past week, it faces the risk of a move higher. It was seen following through higher on the back of its Friday gain during Monday trading session today. However, as long as it trades below the 1.2696 level, corrective pullback risk is not over. On the … “USDCAD: Bullish, Follows Through On Strength”
AUD/USD: Trading the HSBC Chinese Flash PMI Feb 2015
The HSBC Chinese Flash Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and … “AUD/USD: Trading the HSBC Chinese Flash PMI Feb 2015”
Australian economy faces the crossroads
The Australian government faced a stark warning last week that unless it reigns in the finances it’s at risk of losing it AAA rating from ratings agency Standard and Poor’s. Although there is no immediate threat of a downgrade from the AAA rating the ratings agency told the Wall Street Journal that the government needs … “Australian economy faces the crossroads”
Buy USD/CAD – Barclays Trade of the Week
The Canadian dollar suffered from falling oil prices and also from the disappointing retail sales numbers. The team at Barclays says there is more room for weakness in the C$ – a rise in USD/CAD. Here is the rationale and the charts: Here is their view, courtesy of eFXnews: Currency investors should consider buying USD/CAD … “Buy USD/CAD – Barclays Trade of the Week”
Euro Drops as German Business Confidence Misses Estimates
The euro declined today against other most-traded currencies after the German business climate missed projections, reigniting concerns about the financial stability of the eurozone. The Ifo Business Climate Index for Germany rose from 106.7 to 106.8 points in February. While the reading itself was not bad, it was not as good as economists have hoped for (107.4). This led to the drop of the euro against other majors, Japanese yen being one … “Euro Drops as German Business Confidence Misses Estimates”
USDCHF: Loses Upside Momentum, Risk Turns Lower
USDCHF: With USDCHF closing on a hammer candle print the past week, it faces the risk of a move lower in the new week. This development leaves the pair targeting the 0.9300 level where a break will set the stage for a move lower towards the 0.9250 level. A turn below here will open the … “USDCHF: Loses Upside Momentum, Risk Turns Lower”
Japanese Yen Stable After Bank of Japan Minutes
The Japanese yen was stable today after the release of the Bank of Japan monetary policy minutes. At the same time, the yen rallied together with other currencies against the euro. The Bank of Japan released minutes of its January meeting today. The minutes showed that some policy members questioned the necessity of the current asset purchase program: Some members — noting that interest rates had recently been declining further under … “Japanese Yen Stable After Bank of Japan Minutes”
What will happen to EUR if ECB Fails On Its
The implementation of the ECB’s massive QE program is just around the corner. How will it impact the exchange rate? And what happens if the balance sheet does not rise as expected? The team at Morgan Stanley provides some answers: Here is their view, courtesy of eFXnews: “Rate and yield differentials working against the EUR … “What will happen to EUR if ECB Fails On Its”