The New Zealand dollar slumped today, reversing yesterday’s gains. New Zealand’s central bank performed an interest rate cut overnight and signaled that additional cuts are likely. The Reserve Bank of New Zealand cuts its main interest rates by 25 basis points to 2.75 percent today. Analysts were expecting such move, and the real downer was the very dovish statement that accompanied the decision. The central bank revised … “New Zealand Dollar Backs Off After RBNZ Cuts Rates”
Month: September 2015
Are You Ready for Spread Betting on FX Markets?
The Forex market is the world’s most-heavily traded market. It dwarfs equities trading by a long margin. Get the scoop on optimal spreadbetting strategies for currency trading What Makes Forex Markets Tick and How to Profit from Them? Get the Facts before You Engage in Forex Spread Betting Spread betting on forex markets requires an … “Are You Ready for Spread Betting on FX Markets?”
New Zealand Dollar Stronger Ahead of RBNZ Meeting
The New Zealand dollar rallied against other most-traded currencies during Wednesday’s trading. This turn of events was rather puzzling as the monetary policy outlook is anything but positive for the currency. The Reserve Bank of New Zealand will conduct a policy meeting at the start of Thursday’s trading session. The majority of analysts expect a cut of the main interest rate by at least 25 basis points. The meeting will be followed by press-conference, which may … “New Zealand Dollar Stronger Ahead of RBNZ Meeting”
BoC Policy Statement Benefits Loonie
The Canadian dollar gained against the euro and the Japanese yen but fell a little versus the US dollar today. The major event for the currency during Wednesday was the policy meeting of the nation’s central bank that turned out to be mildly supportive for the loonie. The Bank of Canada left its main interest rate at 0.5 percent during the Wednesday’s meeting, as was widely expected, and issued a statement that was relatively neutral. The bank cited … “BoC Policy Statement Benefits Loonie”
Euro Struggles Continue Even as Risk Appetite Improves
Euro continues to struggle today on the Forex market, even though risk appetite is improving as a whole. Markets around the world are heading higher, including in Europe, and the US markets are set to open higher. However, even with that news, the euro is heading lower against most of its major counterparts. Even as risk appetite improves, the euro is losing ground to its major counterparts. Part of the blame for the euro’s most … “Euro Struggles Continue Even as Risk Appetite Improves”
Yen Maintains Decline amid Risk-Favorable Environment
The Japanese yen continued to fall today, extending yesterday’s drop. The market sentiment continues to favor risky traders, making safety of the yen unneeded for investors. The yen has dropped during the previous trading session and continued to move up today amid optimism on the Forex market. Chinese stocks rallied more than 2 percent today, and other global shares joined the parade. As a result, commodity currencies (and some other currencies as well) were … “Yen Maintains Decline amid Risk-Favorable Environment”
Pound Lower vs. Dollar, Fares Better vs. Yen
The Great Britain pound dropped today as basically all economic reports from the United Kingdom were bad. The currency managed to maintain the rally against the Japanese yen but had no such luck versus the US dollar. Wednesday’s macroeconomic economic data from Great Britain was underwhelming all across the board, dragging the sterling down. The unexpected drop of manufacturing and industrial production, the worsening trade balance deficit and the persisting shop … “Pound Lower vs. Dollar, Fares Better vs. Yen”
NFP feeding the Fed, Draghi drill down and more
Is the NFP good enough for the Fed? We try to provide a good answer as the big event looms. We then digest the other big event that has long term implications: the ECB decision and the Draghi show. We end with a preview of the upcoming events. You are welcome to listen, subscribe and provide feedback. NFP enough … “NFP feeding the Fed, Draghi drill down and more”
EURJPY Retains Bullish Offensive, Targets 134.98 Area
EURJPY: With the cross following through higher on the back of its Monday gains on Tuesday, it looks to retest its key resistance at the 134.98 level. Support comes in at the 133.50 level where a break will aim at the 133.00 level. A turn below here will target the 132.50 level with a breach … “EURJPY Retains Bullish Offensive, Targets 134.98 Area”
Dollar Soft During Tuesday’s Trading
The US dollar was soft during Tuesday’s trading. The currency managed to gain on the Japanese yen but had little success against other most-traded currencies. Chinese stocks dropped at the start of the trading session but bounced to close higher. This led to a rally of other global stocks and the risk-favorable sentiment on the markets. Another reason for traders’ optimism was speculations that the September interest rate hike from the Federal Reserve is highly … “Dollar Soft During Tuesday’s Trading”