Euro is receiving near-term support today, thanks in part to yesterday’s stock market surge. However, even though the 19-nation currency is higher right now, the gains are expected to be short-lived as the ECB’s monetary policy continues to diverge from that of the Federal Reserve. Euro is gaining ground today, heading higher after a few sessions of losses. The 19-nation currency is rallying a bit on stock performances and better economic … “Euro Receives Near-Term Support”
Month: March 2015
Canadian Dollar Rises a Little, Unable to Beat Euro
The Canadian dollar gained a little on the US dollar and the Japanese yen today after the release of positive economic data from Canada and disappointing reports from the United States. At the same time, the currency logged a substantial drop against the euro. The Forex market reversed its trend during the first trading day of this week as safer currencies were weak while their rivals were relatively firm. The Canadian dollar joined the winners, though … “Canadian Dollar Rises a Little, Unable to Beat Euro”
Dollar Comes Under Selling Pressure Ahead of Fed
The US dollar was under selling pressure today because traders are becoming more and more cautious as the Federal Reserve’s policy meeting is nearing. Economic reports from the United States were not helping the greenback either. The US currency demonstrated losses against almost all its major rivals following the rally to the highest level in 11 and half years. There can be several possible explanations for such behavior. … “Dollar Comes Under Selling Pressure Ahead of Fed”
Li Keqiang’s Remarks Drive Yuan Lower
China’s Premier Li Keqiang signaled that policy makers will stimulate the nation’s economy if growth continues to slow. His speech led to a jump of Chinese shares, but the yuan was trading lower at the start of the week. Li Keqiang said at the press-conference on the weekend: The good news is that in the past couple of years we did not resort to massive stimulus measures for economic growth. He then added: That has … “Li Keqiang’s Remarks Drive Yuan Lower”
How To Prepare For A Less ‘Patient’ Fed? – BNPP
The US dollar enjoyed a nice rally against many currencies in anticipation of Fed tightening. We will probably get a change in wording this week. How can we prepare for it? Which currency pair is likely to move most? Vassili Serebriakov from BNP Paribas answers: Here is their view, courtesy of eFXnews: “The FOMC policy announcement on … “How To Prepare For A Less ‘Patient’ Fed? – BNPP”
UK Pound Recovers Some of Last Week’s Losses
UK pound is in the process of recovering some of last week’s losses right now. Thanks to profit taking and a little hope for the future, sterling is gaining some ground against the US dollar. Like other major currencies, the pound is down against the euro today. However, sterling is gaining ground against the dollar and the yen as risk appetite makes an appearance. Profit taking after last week’s drop is also … “UK Pound Recovers Some of Last Week’s Losses”
Euro Rebounds Against Major Counterparts
Euro is rebounding against its major counterparts today, heading higher after last week’s debacle. Thanks to some comments by a member of the ECB Governing Council, the euro is seeing some strength today. It may not last, however. Euro is heading higher today, gaining against its major counterparts. The gains come after a rough week in which the continued to hit new low after new low. … “Euro Rebounds Against Major Counterparts”
Swiss Franc Falls vs. Euro, Gains on Dollar
The Swiss franc edged down against the euro during the current trading session after the release of disappointing macroeconomic data from Switzerland. At the same time, the currency managed to rise a bit against the US dollar. The Swiss Producer Price Index dropped 1.4 percent in February while economists promised an increase by 0.4 percent. Retail sales inched down 0.3 percent in January from a year ago even though analysts predicted growth … “Swiss Franc Falls vs. Euro, Gains on Dollar”
EURUSD: Retains Broader Downside Bias
EURUSD: With EUR declining further the past week, it looks to weaken further in the new week. However, we may see a corrective recovery on the back of its recent weakness. Support is seen at 1.0450 level with a cut through here opening the door for more downside towards the 1.0400 level. Further down, support … “EURUSD: Retains Broader Downside Bias”
EUR/USD: Trading The German ZEW Mar 2015
German ZEW Economic Sentiment is based on a monthly survey of institutional investors and analysts and their views of the German economy. A reading that is higher than the market forecast is bullish for the euro. Update: German ZEW Economic Sentiment at 54.8 points; Core CPI up to 0.7% Here are all the details, and 5 … “EUR/USD: Trading The German ZEW Mar 2015”