The Great Britain pound extended its move down today, reaching the lowest level since April against the US dollar and the lowest since October 2014 versus the Japanese yen. The Markit/CIPS UK Services PMI went down from 55.9 in November to 55.5 in December, though it remained comfortably above the neutral 50.0 level, indicating expansion of the sector. The more negative factor for the currency was uncertainty associated with the planned referendum … “Pound Extends Move Down During Wednesday’s Trading”
Month: January 2016
Yuan at Lowest Level in Five Years
The Chinese yuan depreciated today, falling to the lowest level in five years, as the People’s Bank of China lowered its reference rate, prompting speculations among market participants that China is going to renew currency wars. The PBoC cut its daily fixing by 0.22 percent to 6.5314 per dollar today. The move obviously made the yuan weaker while the poor economic data from China also contributed to the weakness of the currency. Additionally, … “Yuan at Lowest Level in Five Years”
2016 Outlook – More volatility despite less divergence
Will the US dollar remain king in 2016? The year may see two distinct parts, and not necessarily because of the US elections. A change may be coming to the euro-zone and uncertainty about the UK’s membership could stir speculation on the pound. China will likely be an even bigger mystery and continue rising in … “2016 Outlook – More volatility despite less divergence”
Leading Web Trading Platforms
Technologies drive progress in nearly every single aspect of our lives. We no longer send SMS, but use Viber, WhatsApp or any different messenger, our files are stored on google drive, dropbox and other services. It is clear that the general tendency of progress is to move all of the applications and services into the cloud, … “Leading Web Trading Platforms”
Don’t Sell The Euro Yet – BofA Merrill
EUR/USD has certainly been suffering in recent days, with fear of more ECB action beating safe haven flows. What’s next? The team at Bank of America Merrill Lynch warns: Here is their view, courtesy of eFXnews: EUR choppy but weaker in 2016: 2015 was the year when the Euro finally weakened, but not on a … “Don’t Sell The Euro Yet – BofA Merrill”
CAD Falls To New 12-yr Lows; Eye On Gov Poloz,
USD/CAD is trading well above the 1.40 level, even though oil prices haven’t hit new lows. There are many factors hitting the loonie. Here are some explanations: Here is their view, courtesy of eFXnews: The Canadian dollar fell to new 12-year-plus lows below C$1.4000 versus the U.S. dollar Tuesday, with the loonie weighed by weak … “CAD Falls To New 12-yr Lows; Eye On Gov Poloz,”
CAD Falls to Record Low Since 2003 vs. USD
The Canadian dollar fell to the lowest level in more than a decade against the US dollar during the Wednesday’s trading session. The currency was also lower against other major peers, hurt by both domestic and overseas news. The loonie dropped together with other commodity-related currencies due to the poor economic data from China. The Asian nation is a significant consumer of raw materials, making its economic performance vital to currencies linked … “CAD Falls to Record Low Since 2003 vs. USD”
NZ Dollar Hurt by News from New Zealand & Abroad
The New Zealand dollar dipped today, hurt by news from both New Zealand itself and from abroad. The currency declined for the fifth straight trading session versus the US dollar and the Japanese yen. GlobalDairyTrade reported that prices dropped 1.6 percent during the first dairy auction this year. Milk exports account for about one third of New Zealand’s export revenue, making dairy prices an important factor for the nation’s economy … “NZ Dollar Hurt by News from New Zealand & Abroad”
Yen Continues to Surge on Safe Haven Demand
Yen is higher against other major currencies today as safe haven demand continues to drive Forex traders. With the uncertainty right now, yen is preferred for its stability and safety. Disappointing Chinese factory data released yesterday sparked a global stock selloff. At one point the situation was bad enough in the Chinese markets that a new shutdown mechanism was triggered, suspending trading. On the first trading day of the New … “Yen Continues to Surge on Safe Haven Demand”
US Dollar Index Rises as Risk Aversion Continues
US dollar index is higher today, thanks in large part to continued risk aversion. The latest chain of events in China and the Middle East are making investors and traders skittish, and they are turning to safe haven currencies. The US dollar is still considered the most stable currency in the world, and Forex traders are turning to it today as stock markets around the world continue to drop. Dollar index is higher today, … “US Dollar Index Rises as Risk Aversion Continues”