The Great Britain pound fell today despite better-than-expected macroeconomic data from the United Kingdom. Still, the currency was heading to a weekly gain against the euro and the Japanese yen, though it likely to end the week with losses against the US dollar. The sterling was soft today even though the report about public net borrowing was better than market expectations. Still, analysts say that the currency remains attractive … “Pound Heads to Weekly Gains Despite Friday’s Drop”
Month: May 2015
Yen Stronger After BoJ Makes No Move
The Japanese yen was stronger after a central bank’s policy meeting today as Japanese policy makers yet again decided to refrain from changing anything. The currency gained against the US dollar and the Great Britain pound, though it has trimmed gains versus the former as of now. The majority of the Bank of Japan board members decided to make no changes to monetary policy. The single dissenter offered to reduce the size of asset purchases. Overall, … “Yen Stronger After BoJ Makes No Move”
Why EUR/USD Parity looks more real, and that GDP Now
EUR/USD managed to print some sort of stability after the big fall from the highs. However, the reason for the fall could continue weighing heavily on the common currency. The team at ING discusses the pair, parity and the US GDP Now model: Here is their view, courtesy of eFXnews: “With the initial estimate for … “Why EUR/USD Parity looks more real, and that GDP Now”
Euro Shows No Bias as EU Summit in Riga Concludes
The euro demonstrated no particular bias against the US dollar and the Japanese yen as traders focused on the European Union summit in Latvia. The shared 19-nation currency demonstrated sizable losses against the Great Britain pound. Market participants were hoping that the meeting of German Chancellor Angela Merkel and French President Francois Hollande in Riga would speed up a resolution of the Greek situation. Hollande said ahead of the summit: We are not going … “Euro Shows No Bias as EU Summit in Riga Concludes”
EURJPY: Builds Up On Strength
EURJPY- Having closed higher on Wednesday and followed through on Thursday, further strength is envisaged. This development should see the cross target the 135.57 level initially. On the other hand, resistance lies at the 136.00 level where a break will aim at the 136.50 level where a break if seen will threaten further upside towards … “EURJPY: Builds Up On Strength”
Poor Data & Fed’s Minutes Discourage Traders from Buying USD
The US dollar declined today as disappointing macroeconomic reports from the United States and the dovish stance of the Federal Reserve discouraged traders from buying the currency. The greenback was slowly regaining its footing against the euro but remained soft against other majors. Basically all Thursday’s US indicators were worse than expected, including initial jobless claims, the manufacturing index and the housing data. The notable exception was the leading index … “Poor Data & Fed’s Minutes Discourage Traders from Buying USD”
EUR/USD: Trading the IFO May 2015
German Ifo Business Climate is a monthly composite index of about 7,000 businesses, which are surveyed about current business conditions and their expectations concerning economic performance over the next six months. A reading which is higher than the estimate is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. … “EUR/USD: Trading the IFO May 2015”
Westpac’s Report Doesn’t Support Australian Dollar
The Australian dollar was rather soft during the Wednesday’s trading session despite positive news from Australia. The currency attempted to rally against the euro but pared most of its gains as of now. The Westpac-Melbourne Institute Consumer Sentiment showed an improvement by 6.4 percent in May. The report noted that the latest interest rate cut one of the major contributors to the increase. As for the future, Westpac’s Chief Economist, Bill Evans said: The minutes from the May … “Westpac’s Report Doesn’t Support Australian Dollar”
Pound Higher After BoE Minutes
The Bank of England released minutes of its May policy meeting during the current trading session. While the Great Britain pound has been flat against the US dollar after the release, the currency gained on its other major rivals, including the euro and the Japanese yen. The minutes showed that the decision to keep monetary policy unchanged was unanimous. Overall, market participants considered the report relatively hawkish. For example, it said: While … “Pound Higher After BoE Minutes”
Japanese Remains Mostly Lower After Profit Reports
Japanese yen is holding steady today, remaining mostly weak against its major counterparts. Thanks to a weak yen, GDP and company profits in Japan are showing improvement. Japanese yen remains mostly weak against its major counterparts today, following profit reports from companies and data that indicates better than expected GDP for the first quarter of 2015. The latest news out of Japan indicates record profits … “Japanese Remains Mostly Lower After Profit Reports”