The latest news out of Japan shows a smaller than expected trade deficit for the month of January, thanks to more exports and lower oil and gas prices. However, the yen is still lower against its major counterparts, trading on concerns about economic recovery. Yen is lower against its major counterparts today as further concerns about the Japanese economy, and what the Bank of Japan and other policymakers will decide to do to spur … “Yen Weakness Continues, Even After Deficit News”
Month: February 2015
GBP/USD: Trading the British Retail Sales Feb 2015
The Retail Sales release is considered one of the most important economic indicators. A reading that is higher than the market forecast is bullish for the British pound. Update: UK retail sales disappoint – GBP/USD already low Here are all the details, and 5 possible outcomes for GBP/USD. Published on Friday at 9:30 GMT. Indicator Background … “GBP/USD: Trading the British Retail Sales Feb 2015”
Is the ECB triggering a Greek Bank Run?
The European Central Bank is in a tight spot between politicians on both sides of the Greek crisis. Greece want looser conditions for its banks in order to have more breathing space for the economy and for negotiations. German politicians would prefer a more prudent approach in order to mitigate risk and put pressure on Greece to … “Is the ECB triggering a Greek Bank Run?”
US Dollar Loses Steam After Fed’s Minutes
The US dollar was flat at the start of the Thursday’s trading session following Wednesday’s losses. The greenback dropped against most of major currencies and erased gains versus the euro during the previous trading session after the Federal Reserve’s policy minutes turned out to be more dovish than the market has anticipated. The Federal Open Market Committee released minutes of its January meeting yesterday. The minutes were rather dovish, saying: Many … “US Dollar Loses Steam After Fed’s Minutes”
Traders Unconvinced by Talks About Greek Loan Extension, EUR Sinks
The euro dropped today as traders felt unconvinced by rumors about probable extension of the Greek loan terms. The currency erased yesterday’s rally versus the US dollar but not against yen as the gains versus the Japanese currency were simply too big. Greece asked to extend its loan for six months but without the austerity measures that were demanded by the previous bailout program. Greek Finance Minister Yanis Varoufakis said: … “Traders Unconvinced by Talks About Greek Loan Extension, EUR Sinks”
Unemployment Data Makes Great Britain Pound Stronger
Very positive employment report from the United Kingdom propelled the Great Britain pound higher. The currency demonstrated big gains, rising to the highest level in more than month and a half against the US dollar and the highest more than seven years versus the euro. The Office for National statistics reported that unemployment claims fell 38,600 in January from December, more than economists anticipated. Average weekly earnings grew 2.1 percent … “Unemployment Data Makes Great Britain Pound Stronger”
Further commodity currency gains versus USD could be limited
Commodity currencies have made something of a comeback this month buoyed by a recovery in oil prices, but further strong gains versus USD are likely to be limited with the US interest rate cycle close to turning upwards. Jobs growth in the US has been powering along at over 200,000 a month for a year … “Further commodity currency gains versus USD could be limited”
Tsipras – Merkel needed for a resolution on Greece
Talks between Greece and its European partners are going on and on, with no resolution so far. Greece asks for some relief in austerity and the Germany says that the only way is to extend the current plan without any changes. Greece is now preparing an extension request that focuses only on the loan and that will probably differ … “Tsipras – Merkel needed for a resolution on Greece”
EUR/USD: One Last Push; USD/JPY: End Of 2-M Range? –
EUR/USD traded in range for quite some time. BofA Merrill Lynch thinks that bears should stay patient, with one more correction due before the downtrend resumes. They are also bullish on the greenback against the yen, and see USD/JPY resuming its uptrend: Here is their view, courtesy of eFXnews: EUR/USD, BofA thinks that while the correction … “EUR/USD: One Last Push; USD/JPY: End Of 2-M Range? –”
AUDUSD: Faces Further Recovery Risk
AUDUSD: With AUDUSD strengthening on Tuesday, we expect more recovery to occur. On the downside, support resides at the 0.7700 level where a breach will aim at the 0.7650 level. Below that level will set the stage for a run at the 0.7600 level with a cut through targeting further downside towards the 0.7550 level. … “AUDUSD: Faces Further Recovery Risk”