Euro is mostly higher today, but it is also struggling a little bit. The difficulties with Greece are once again influencing the 19-nation currency, and gains have been hard-won and uncertain today. Earlier today the euro dropped back below the 1.12 mark against the US dollar, thanks in large part to concerns about what’s next in the drama with Greece. Concerns about how far apart creditors and Greece … “Euro Higher But Struggling on Greek Drama”
Month: June 2015
EUR/USD: Trading The German ZEW Jun 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. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 9:00 GMT. Indicator Background … “EUR/USD: Trading The German ZEW Jun 2015”
USD: In Yellen We Trust – Credit Agricole
The tension is growing towards the all important Fed decision on June 17th. How will this affect the dollar? The team at Credit Agricole sees a stronger greenback and explains: Here is their view, courtesy of eFXnews: The USD has consolidated in the first two weeks in June. This comes on the heels of a solid … “USD: In Yellen We Trust – Credit Agricole”
US Dollar Demonstrates Softness Ahead of Important Week
The US dollar showed rather weak performance during the past trading week even as economic fundamentals should have been supportive for the currency. Now traders wait for the next week that may determine the future of the currency in the near term. The dollar started trading on a weak footing and had problems to rally afterwards. While the currency attempted to go up on Thursday, the greenback quickly halted its advance on Friday as speculations that Greece may … “US Dollar Demonstrates Softness Ahead of Important Week”
Detrimental Fundamentals Don’t Deter Pound from Rising
Lately, macroeconomic fundamentals were detrimental to the Great Britain pound, but that did not prevent the currency from ending Friday with gains. In fact, the sterling reached the highest level since September 2008 against the Japanese yen. UK construction output unexpectedly decreased by 0.8 percent in April from March following the drop by 1.4 percent during the previous reporting period. The House Price Balance reported by the Royal Institution of Chartered … “Detrimental Fundamentals Don’t Deter Pound from Rising”
Aussie Falls After Thursday’s Gains
The Australian dollar ended Friday lower, though the currency trimmed its losses by the end of trading. The currency rallied a day before due to the very positive domestic data. On Thursday, the Australian Bureau of Statistics reported that employment grew by 42,000 in Australia last month. The actual figure was far bigger than the 12,100 increase predicted by analysts. Moreover, the unemployment rate demonstrated a surprise drop by 0.2 percentage point to 6 percent. The data … “Aussie Falls After Thursday’s Gains”
NZ Dollar Ends Week with Significant Losses as RBNZ Cuts Rate
The New Zealand ended the week with huge losses, mostly due the unexpected decision of the Reserve Bank of New Zealand to perform monetary easing on Thursday. The currency reached the lowest level since February against the Japanese yen and the lowest in five years versus the US dollar. The RBNZ announced on Thursday that it is going to cut the main interest rate by 25 basis points to 3.25 percent. While a cut itself was not … “NZ Dollar Ends Week with Significant Losses as RBNZ Cuts Rate”
Dollar Halts Rally Despite Supportive Fundamentals
The US dollar has received support from domestic macroeconomic reports that led to a rally yesterday. Today, the currency halted its advance even though fundamentals continued to be supportive for the greenback. With positive economic indicators, including rising retail sales and the improving consumer sentiment, the dollar had reasonable support. Additionally, the currency is bolstered by speculations that the Federal Reserve may hike interest rates as soon as September. Yet … “Dollar Halts Rally Despite Supportive Fundamentals”
Trader Meet Up to Host an Online Event for Forex
Trader Meet Up is a leader in virtual expos that’s known for connecting traders and brokers; and in July, they plan to do just that! The event is held on July 28th and RSVPs are open. Here are all the details. If you’re a day trader, daily pips, stories, and other notifications of breaking news … “Trader Meet Up to Host an Online Event for Forex”
Why Greece currently has leverage over all troika members
It all seemed positive yesterday, as Germany blinked and was ready for another can kicking exercise, accepting only one Greek reform for the time being. But as we noted, the IMF is a hurdle. And indeed, the IMF delegation, that officially “never leaves the table”, just did it and put all the blame on Greece. The IMF … “Why Greece currently has leverage over all troika members”