Alexandre Tombini, Governor of the Central Bank of Brazil, said that the central bank has no plans to cut interest rates. While the news was positive for the Brazilian real, the currency had troubles rising against the US dollar. The bank left its main interest rate at 14.25% last month. While reduction of borrowing costs might be helpful for spurring economic growth, inflation that stays above 10 percent does … “Brazil’s Central Bank Has No Plans for Interest Rate Cuts”
Month: February 2016
GBPUSD Recovers Higher On Correction
GBPUSD: Having the pair halted its downside pressure and threatening recovery, we expect price extension to occur. Support lies at the 1.4300 level where a break will turn attention to the 1.4250 level. Further down, support lies at the 1.4200 level. Below here will set the stage for more weakness towards the 1.4150 level. Its … “GBPUSD Recovers Higher On Correction”
Here Is Why EUR/USD Set To Rally Despite ECB Easing
The ECB is about to ease in March: it told us so. However, the team at BNP Paribas still sees the common currency rallying against the greenback. Here is their view, courtesy of eFXnews: In its weekly note to clients today, BNP Paribas discusses its outlook for EUR/USD making the case for the pair to … “Here Is Why EUR/USD Set To Rally Despite ECB Easing”
Swiss Franc Demonstrates Mixed Performance
The Swiss franc demonstrated mixed performance of Thursday. It was little changed against the US dollar, gained a bit on the euro but dropped versus the Japanese yen. Switzerland’s trade surplus widened to 3.51 billion francs in January from 2.59 billion francs the month before, exceeding analysts’ expectations. Released on Wednesday, ZEW-CS-Indicator for the economic sentiment in Switzerland showed deterioration by 2.9 points to -5.9 in February. The Swissie remains under threat of additional … “Swiss Franc Demonstrates Mixed Performance”
Canadian Dollar Weak During Thursday’s Trading
There was a positive economic data released from Canada today but it proved to be of little help to the nation’s currency. While the Canadian dollar was surprisingly weak for the whole day, now it has even more reasons to go down as prices for crude oil backed off after the initial rally. Earlier today, oil prices rallied, but the rally has come to an abrupt end after data showed … “Canadian Dollar Weak During Thursday’s Trading”
UK Pound Receives a Little Help for Now
UK pound is a little higher today, gaining against major counterparts as Forex traders consider the situation. The economic situation in the United Kingdom is difficult, and there are still concerns about an exit from the European Union to weigh on the sterling in the future. UK pound has been struggling in recent months, but today the sterling is getting a bit of a break. Sterling is higher against most of its major counterparts. However, … “UK Pound Receives a Little Help for Now”
Euro Succumbs to Pressure in Forex Trading
Euro is succumbing to pressure right now in Forex trading, moving lower against its major counterparts. There isn’t a whole lot to support the euro against other currencies, and, in fact, policymakers are hoping for a lower euro. Economic data is improving in various countries, but the eurozone might still be in trouble. There are expectations for another rate cut, possibly in March. Even though analysts don’t believe … “Euro Succumbs to Pressure in Forex Trading”
Employment Data Pushes Aussie Lower, Decline Limited
The Australian dollar dropped today on the basis of the disappointing employment report. The currency bounced, though, trimming its losses with the help of crude oil rally and news from China. The seasonally adjusted figure for Australian employment dropped by 7,900 in January. Forecasters were off the mark completely, promising ahead of the report a big gain of 12,900. The unemployment rate increased unexpectedly from 5.8% to 6.0%. The Australian dollar dropped after the report but got … “Employment Data Pushes Aussie Lower, Decline Limited”
Dollar Retreats After Dovish Fed Minutes
The US dollar traded lower against its major peers today following yesterday’s release of dovish minutes of the latest Federal Reserve’s policy meeting. The greenback was attempting to hold its ground immediately after the release, but buckled during the current trading session. The minutes showed that US policy makers were concerned about developments in the global economy, particularly in China, and their impact on the economy of the United States. As a result, the Fed … “Dollar Retreats After Dovish Fed Minutes”
GBP/USD: Trading the British Retail Sales Feb 2016
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 Friday at 9:30 GMT. Indicator Background Retail Sales is the primary gauge of consumer spending, a critical component of economic … “GBP/USD: Trading the British Retail Sales Feb 2016”