The US dollar remained vulnerable during thin Monday’s trading, subdued by the outlook for a delayed interest rate hike from the Federal Reserve. The greenback managed to pare its losses versus the euro but maintained decline against other majors, including the Great Britain pound and the Japanese yen. US policy makers were sending mixed signals lately. Some say that the rate lift-off is still possible this year while … “Dollar Remains Subdued During Quiet Trading”
Month: October 2015
Euro Trades Mixed Against Majors
Euro is trading mixed against its major counterparts today, although it is mostly lower. The 19-nation currency is having the most success against the US dollar today. As expectations for a rate hike from the Federal Reserve are pushed back into 2016, the euro is gaining against the greenback. Concerns about the pace of economic growth in the United States are weighing on the dollar, and the euro is higher as a result. However, … “Euro Trades Mixed Against Majors”
Orbex sponsors Run in Colour charity event
Cyprus based forex broker Orbex gives back to the community and specifically the Children Cancer unit of Makarios Hospital in Nicosia. Here is more information from the press release: 12 October, 2015 | Limassol, Cyprus Orbex international investment firm is celebrating their 5 years of active operations in Cyprus on the 21st of October 2015 with the … “Orbex sponsors Run in Colour charity event”
UK Pound Inches Higher as Forex Traders Look Ahead
UK pound is moving higher against its major counterparts in Forex trading today as traders await data later this week. Inflation, employment and remarks from a member of the MPC are in the works and many Forex traders are waiting on these events. Even though many expect to see a dip into negative territory for inflation, that isn’t having a huge impact on the pound right now. The dip probably won’t cause … “UK Pound Inches Higher as Forex Traders Look Ahead”
MXN/JPY: Carry On!
On 9 September, Mexico’s President Enrique Peña Nieto nominated Banco de Mexico’s Governor Agustín Carstens for a second six year term. Governor Carstens is has been credited for taming inflation to the lowest levels in 50 years. Carsten’s innovative approach has resulted in consistent, within target, inflation. This is in spite of the Peso’s 22% … “MXN/JPY: Carry On!”
On TPP, BOJ and the Japanese yen
12 countries, most notably the US and Japan, signed in principle on the Trans Pacific Partnership (TPP) agreement, that is expected to enhance trade within a region where 40% of world trade already takes place. While we don’t officially know what is inside this secret agreement, it certainly has political impact for Japan. But this may go … “On TPP, BOJ and the Japanese yen”
No news is bad news for USD – MM #71
The meeting minutes from the Fed didn’t show the decision was close and that was bad news for the greenback. After starting with the minutes and other central bank reactions, we move to rising oil (certainly correlated) and the upcoming events – China is back. You are welcome to listen, subscribe and provide feedback. FOMC Minutes rundown: We … “No news is bad news for USD – MM #71”
Australian Dollar Edges Higher in Thin Trading
The Australian dollar gained today, rising for the ninth straight trading session against the US dollar and the Japanese yen. Monday’s trading was thin as many important markets were closed due to holidays. The Aussie continued to move up as the weakness of the weakness of the greenback was helping risk-related currencies. Without any major news, the currency felt no need to change its trend. The current trading session is expected to be very light … “Australian Dollar Edges Higher in Thin Trading”
Yuan Firmer as PBoC Sets Daily Fixing Higher
The Chinese yuan advanced today as the nation’s central bank set the reference rate higher. Speculations about possible delay of an interest rate hike from the Federal Reserve were also helping the currency. The People’s Bank of China set the daily fixing at 6.3406 per dollar, up from the previous level of 6.3493. The currency is allowed to trade 2 percent above or below the official fix. Worries that the Fed will postpone monetary … “Yuan Firmer as PBoC Sets Daily Fixing Higher”
EUR to fall on more ECB QE – Goldman Sachs
The euro managed to make its way higher amid doubts that the Fed will indeed raise rates. Can this course change? The team at Goldman Sachs analyzes the next moves: Here is their view, courtesy of eFXnews: “We analyse in more detail the drift lower in EUR cross-currency basis, in particular to understand the relationship to ECB easing. We … “EUR to fall on more ECB QE – Goldman Sachs”