Markets are off to start the day with a whimper as data in China showing that Chinese home prices have begun to stabilise after more than a year of decline has not had the positive effect on commodities such as copper, oil and gold that it once would have. Commodity pricing, which also serves as … “Chinese home prices rise”
Month: November 2015
CAD: Oil Off A Loonie’s Back; EUR: Does Draghi Know
The Canadian dollar has been rocking and rolling on oil prices and things become complicated. Regarding the euro: what does Draghi know? Here is the view from CIBC: Here is their view, courtesy of eFXnews: CAD: Oil Off a Loonie’s Back. The 30, 60 and 120 day correlations between oil prices and movements in the C$ remain … “CAD: Oil Off A Loonie’s Back; EUR: Does Draghi Know”
NZ Dollar Flat as Traders Wait for Fed Minutes
The New Zealand dollar was trading flat during the current trading session as traders wait for monetary policy minutes from the Federal Reserve. The New Zealand currency has been in a downtrend since mid-October. The kiwi together with other currencies was hurt by expectations of an interest rate hike from the Federal Reserve. Prospects for monetary easing from the Reserve Bank of New Zealand were also detrimental to the NZ dollar. NZD/USD traded … “NZ Dollar Flat as Traders Wait for Fed Minutes”
EUR/USD: Flows, Valuation, Risks, Forecasts – Danske
Did EUR/USD find a bottom? Perhaps for now, but the future is more complicated. The team at Danske analyze the moving parts behind the pair: Here is their view, courtesy of eFXnews: Flows. Speculators have increased their bearish EUR/USD positions substantially over the past few weeks and positioning looks increasingly stretched from an historical point … “EUR/USD: Flows, Valuation, Risks, Forecasts – Danske”
Swiss Franc Drops vs. Euro, Driven by Data & Policy Outlook
The Swiss franc fell against the euro today as economic data and the monetary policy outlook were unfavorable to the currency. The Swissie was also falling against the US dollar at the start of the current trading session but managed to pare back losses by now. The ZEW-CS-Indicator for the economic sentiment in Switzerland sank from 18.3 in October to 0.0 in November. Meanwhile, experts speculate that prospects for monetary easing from the European Central Bank may prompt the Swiss … “Swiss Franc Drops vs. Euro, Driven by Data & Policy Outlook”
GBP/USD: Trading the British Retail Sales Nov 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. Update: UK retail sales disappoint – GBP/USD slips Here are all the details, and 5 possible outcomes for GBP/USD. Published on Thursday at 9:30 GMT. Indicator Background Retail Sales is the primary gauge of … “GBP/USD: Trading the British Retail Sales Nov 2015”
EUR/USD to parity by year end – Goldman Sachs
EUR/USD is struggling on lower ground, but still keeps a safe distance from the year’s lows at 1.0460. Goldman Sachs sees the pair falling in two steps towards parity by year end, with a bolder target afterwards: Here is their view, courtesy of eFXnews: In a note to clients this week, Goldman Sachs discusses the dynamics and … “EUR/USD to parity by year end – Goldman Sachs”
EUR/USD Drops Below 1.07 on Paris, Policy Divergence
Euro continues to fall against its major counterparts as more analysts and traders expect to see additional easing from the ECB. Also weighing on the 19-nation currency is the aftermath of the attacks in Paris. EUR/USD is heading lower today, dropping below the 1.07 level. There is speculation that parity might not be too far off for the euro and the dollar. The 19-nation currency is also struggling against its other major … “EUR/USD Drops Below 1.07 on Paris, Policy Divergence”
Australian Dollar Gains as Risk Aversion Subsides
The Australian dollar rose today, erasing yesterday’s losses against the US dollar and gaining for the fifth straight session versus the Japanese yen. It looks like risk aversion caused by the events in France has subsided, making high-beta currencies attractive yet again. Today, the Reserve Bank of Australia released minutes of its latest policy meeting. While the notes said that “the forecast for the Australian economy remained for growth to strengthen gradually over … “Australian Dollar Gains as Risk Aversion Subsides”
Pound Bounces After UK Inflation Data
The Great Britain pound was falling at the start of today’s trading session but bounced after the release of inflation data, rising above the opening level. Britain’s Consumer Price Index fell 0.1 percent in October from a year ago, the same as in September and in line with expectations. Yet the core components of the indicator actually climbed 1.1 percent. It is important to note that the Bank of England pays more attention to the main number, … “Pound Bounces After UK Inflation Data”