The Japanese Yen is one of the forex market’s favorite trading assets, as it is often viewed as a primary vehicle for carry trades. This is largely because the interest rates associated with the currency have held near zero for an extended period of time, and there is very little indication that this trend in … “Weaker Yen Aiding Peripheral Assets”
Month: October 2015
Aussie Little Changed During Early Thursday’s Trading
The Australian dollar was little changed today after the release of Quarterly Business Survey from National Australia Bank. Yesterday, the currency dropped together with commodity prices. The NAB survey showed that business confidence fell from 4 in the second quarter of 2015 to 0 in the third quarter. The report warned that the data was a bit old and perhaps did not reflect the current situation: The fall in confidence is likely a reflection … “Aussie Little Changed During Early Thursday’s Trading”
AUDUSD: Focus Turns To The 0.7197 Level
AUDUSD: The pair remains weak and vulnerable to the downside triggering further weakness during Wednesday trading session today. This is coming on the back of its failed recovery attempt on Tuesday. On the downside, support comes in at the 0.7197 level where a breach will aim at the 0.7150 level. Below that level will set … “AUDUSD: Focus Turns To The 0.7197 Level”
CAD Lower After BoC Policy Meeting
The Canadian dollar tumbled today following the monetary policy meeting of Canada’s central bank. Falling prices for crude oil also contributed to the decline of the currency. The Bank of Canada announced on Wednesday that it is leaving interest rates unchanged, including the overnight rate that remained at 0.5 percent. At the same time, the central bank lowered its growth forecast for the Canadian economy in 2016 and 2017. The central bank mentioned “lower prices for oil … “CAD Lower After BoC Policy Meeting”
US Dollar Trades Rangebound Ahead of Tomorrow’s ECB Meeting
US dollar is trading rangebound, but mostly higher, ahead of tomorrow’s ECB meeting. Greenback is in wait and see mode as Forex traders wait on the decision and rhetoric out of the eurozone tomorrow. The dollar index is higher, though, and the US dollar is higher against most of its major counterparts. Even though the dollar is higher against many of its major counterparts, and the dollar index is higher, the greenback is … “US Dollar Trades Rangebound Ahead of Tomorrow’s ECB Meeting”
Yen Declines as Trade Data Disappoints
The Japanese yen dropped today, falling for the fifth straight session against the US dollar. The currency declined as Japan’s trade data disappointed investors. Japan’s trade balance demonstrated a deficit of ¥0.36 trillion in September. It was little changed from the August’s value but markedly above the median forecast of ¥0.07 trillion. Meanwhile, analysts continue to argue whether the Japanese central bank is going to ease monetary policy even more … “Yen Declines as Trade Data Disappoints”
Euro Gives Up Some Earlier Gains, but Manages to Retain Upper Hand
Euro is still maintaining a level of strength against its major counterparts today, even after more concerns about China. However, there are still expectations that the next ECB policy meeting will put the brakes on the 19-nation currency. Euro is slightly higher across the board right now, hanging onto small gains. Earlier in the session, euro was doing better, but concerns about China provided … “Euro Gives Up Some Earlier Gains, but Manages to Retain Upper Hand”
Turkish Lira Falls After Central Banks Keep Rates on Hold
The Turkish lira fell against the US dollar today even though the nation’s central bank maintained its tight monetary policy. The Central Bank of the Republic of Turkey left its interest rates unchanged at today’s meeting, including the Marginal Funding Rate that was kept at 10.75 percent. The central bank said regarding its plans for the future: Future monetary policy decisions will be conditional on the inflation outlook. Taking into … “Turkish Lira Falls After Central Banks Keep Rates on Hold”
Ryan Bertrand Sets Up Silicon Markets
Ryan Bertrand, who played football for England, is beginning a new venture: a London based Brokerage called Silicon Markets, which will provide forex services among others. Here is the full information from the official press release: London – 21 October 2015 – England and Premier League footballer, Ryan Bertrand, has joined forces with two other entrepreneurs … “Ryan Bertrand Sets Up Silicon Markets”
GBP/USD: Trading the British Retail Sales Oct 2015
British Retail Sales is considered one of the most important economic indicators. A reading that is higher than the market forecast is bullish for the British pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Thursday at 8:30 GMT. Indicator Background Retail Sales is the primary gauge of consumer spending, a critical component of economic … “GBP/USD: Trading the British Retail Sales Oct 2015”