The US dollar is mostly lower against other currencies today, bringing the dollar index down. However, even with the recent disappointing performance, many expect dollar strength to return. With the recent release of the minutes from the last Federal Reserve meeting, the greenback has headed lower. While many still expect a rate hike in December, the minutes were less hawkish than some had hoped. Another reason the dollar … “Dollar Index Lower, but Expected to Regain Strength”
Month: November 2015
Euro Higher as Currencies Consolidate
Euro is mostly higher today, gaining against its major counterparts as they consolidate recent gains and as Forex traders speculate about the future. Even though the euro has a lot going against it right now, the 19-nation currency is heading higher against its major counterparts today. Euro is gaining ground as other currencies consolidate and as Forex traders prepare for what’s next. The release of the Fed minutes seem … “Euro Higher as Currencies Consolidate”
Fed December rate hike view already factored in EUR/USD,
Ricardo Evangelista, Head of International Desk at ActivTrades, joined today’s Tip TV Finance Show along with Zak Mir, Technical Analyst at Zak’s Traders Cafe, and Bill Hubard, Chief Economist at Bullion Capital, to discuss the euro – dollar divergence trade, and the outlook for the Fed and ECB. Divergence between Euro and Dollar Evangelista mentions … “Fed December rate hike view already factored in EUR/USD,”
Sterling Gains on Dollar Despite Retail Sales, Drops vs. Other Majors
The Great Britain pound gained on the US dollar even though the retail sales report released from the United Kingdom today was disappointing. Against other major currencies, the sterling declined. UK retail sales dropped 0.6 percent in October from the prior month while experts had predicted smaller drop by 0.4 percent. Moreover, the September increase was revised negatively from 1.9 percent to 1.7 percent. The lackluster report … “Sterling Gains on Dollar Despite Retail Sales, Drops vs. Other Majors”
Yen Leaps as BoJ Remains Passive
The Japanese yen leaped against the US dollar and gained versus other most-traded currencies today (though it was unable to beat the euro) as the Bank of Japan refrained from expanding monetary stimulus. The central bank remained passive even after the nation’s economy has entered technical recession. The BoJ kept its interest rates and the asset purchase program without a change at today’s policy meeting. Some economists had expected the bank … “Yen Leaps as BoJ Remains Passive”
EUR/USD: 10 To 15 Big Figure Drop On 1% Drop
EUR/USD certainly lost a lot of ground in the past 18 months, but perhaps there’s lots more. Sebastien Galy at Deutsche Bank analyzes the yield impacts: Here is their view, courtesy of eFXnews: “Even though the rates market prices in the forward path of the Fed, we find that EUR/USD ignores it and prices it … “EUR/USD: 10 To 15 Big Figure Drop On 1% Drop”
Don’t Be Fooled By USD Decline Post-FOMC Minutes – BofA
The Fed minutes did not reveal anything we didn’t know, but did weigh on the dollar. The team at Bank of America Merrill Lynch fades this and explains: Here is their view, courtesy of eFXnews: Fed officials eye December liftoff. The October FOMC minutes covered a wide-range of views among the Committee, with arguably a few more … “Don’t Be Fooled By USD Decline Post-FOMC Minutes – BofA”
Dollar Drops After Fed Minutes, Rebounds
The US dollar was mixed today after the release of the Federal Reserve minutes. The currency sank after the event even though the notes were rather hawkish. Yet the greenback bounced back almost immediately after the initial decline. The Fed minutes signaled that a December interest rate hike is still very probable: Some participants thought that the conditions for beginning the policy normalization process had already been met. Most … “Dollar Drops After Fed Minutes, Rebounds”
GBPJPY Up Against The 187.68-188.00 Levels
GBPJPY: The cross is closing in on its key resistance at the 187.68/00 levels after closing strongly higher on Monday. This upside view is consistent with its short term recovery triggered off the 184.26 level on Nov 06 2015. On the downside, support comes in at the 186.00 level where a violation will aim at … “GBPJPY Up Against The 187.68-188.00 Levels”
Canadian Dollar Down as Traders Wait for Fed Minutes
The Canadian dollar fell today against its major peers as the drop of crude oil prices continues to weigh on the currency. Additionally, traders were unwilling to buy risky currencies tied to economic growth ahead of the release of Federal Reserve policy meeting minutes. Futures for crude oil fell more than 1 percent in New York today. As it often happens, the Canadian currency followed moves of the major Canada’s export commodity. Meanwhile, … “Canadian Dollar Down as Traders Wait for Fed Minutes”