The solid Non-Farm Payrolls report completes the picture for the Fed move. Janet Yellen already prepared us for a removal of forward guidance in March during her battled testimony on Capitol Hill. She also repeated the mantra that everything is data dependent. This report is good enough to cement the removal of patience. Without “patience” … “NFP cements removal of “patience” – June hike looks real”
Month: March 2015
UK Pound Continues to Struggle After BOE Meeting
UK pound is still struggling, thanks in large part to concerns over the low inflation rate. Bank of England policymakers left matters unchanged at its most recent meeting, and sterling is lower against many of its counterparts. Even though there have been signs of recovery in the UK economy, the pound continues to struggle, especially against the US dollar. Bank of England policymakers kept the lending rate at 0.5 per cent … “UK Pound Continues to Struggle After BOE Meeting”
AUD/USD what’s next after the RBA “no cut”? – Market
The Non-Farm Payrolls report is critical for the US dollar – we explain why and what to expected. In addition, our packed show features a debate on false breaks, the Australian and Canadian rate decisions, a potential easing in Japan, the widening gap within oil prices and an update on forex brokers after the SNBomb. … “AUD/USD what’s next after the RBA “no cut”? – Market”
Orbex boosts up the cashback promotion
Cyprus based forex broker Orbex has announced a boost in its cash back promotion program. Here are all the details from the official press release: Limassol, Cyprus, 2nd March 2015 Orbex, a growing international Forex broker, has seen many developments in promoting customer loyalty in the past year, from the “We Care We Share” campaign to … “Orbex boosts up the cashback promotion”
USDJPY: Recovering With Caution
USDJPY: Broader outlook for USDJPY may be higher in the medium term but faces consolidation to downside threats in the short term. While the 120.47/81 zone caps, our bias remains lower. On the downside, support comes in at the 119.50 level where a break will target the 118.00 level. Below here if seen will aim … “USDJPY: Recovering With Caution”
Canadian Dollar Broadly Lower
The Canadian dollar was broadly lower against its rival’s during Thursday’s trading even though fundamentals were largely in favor of the currency. The loonie climbed yesterday after the Bank of Canada kept its monetary policy stable. The BoC kept main interest rate at 0.75 percent at yesterday’s meeting, saying: The risks around the inflation profile are now more balanced and financial stability risks are evolving as expected in January. At present, … “Canadian Dollar Broadly Lower”
Euro Drops as Draghi Announces Start of QE Program
The euro dropped today after the monetary policy meeting of the European Central Bank. While ECB President Mario Draghi did not make any changes to the policy, he announced the start of the planned quantitative easing program. Draghi announced that the ECB will start additional asset purchases (on top of those the central bank is already performing) on Monday (March 9.) As for the end of the program, it will not come until September … “Euro Drops as Draghi Announces Start of QE Program”
US Dollar Continues to Surge
Greenback is still surging today, gaining ground against its major counterparts. Even with a weaker than expected ADP report, and trepidation over tomorrow’s nonfarm payrolls report, the dollar is heading higher. The latest ADP report indicates that job growth was weaker than expected in February. This isn’t great news for the US economy, but the greenback is heading higher anyway. Indeed, the dollar has … “US Dollar Continues to Surge”
Yen Remains Extremely Weak but Gains on Euro
The Japanese yen was extremely weak today despite uncertainty about the policy decision of the European Central Bank. The currency dropped against the US dollar and was also falling versus the euro but bounced against the shared European currency after the ECB meeting. The yen was trading mostly lower today but jumped sharply against the euro after the ECB made a policy announcement. The Japanese currency was rising against the common … “Yen Remains Extremely Weak but Gains on Euro”
BoE Provides No Surprises, GBP Higher vs. JPY, Lower vs. USD
The Bank of England provided no surprise to the Forex market at today’s meeting, keeping its monetary policy unchanged. The Great Britain pound gained on the Japanese yen after the news but was unable to beat the US dollar. The BoE announced today: The Bank of Englandâs Monetary Policy Committee at its meeting today voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank … “BoE Provides No Surprises, GBP Higher vs. JPY, Lower vs. USD”