The Great Britain pound rose against the euro today with the help of a relatively positive manufacturing report. The currency was less successful against the dollar, losing initial gains and falling below the opening level. Britain’s manufacturing output rose 0.7% in January from the prior month exceeding analysts’ expectations. Industrial production expanded 0.3% after falling the month before, though the increase trailed forecasts. Overall, economic data was decent, … “Pound Rises vs. Euro, Loses Gains vs. Dollar”
Month: March 2016
Australian Dollar Weathers Impact of Negative Fundamentals
The Australian dollar rose today, withstanding negative impact of poor economic data released both from Australia and overseas. The currency reached the highest level since December versus the euro and the highest since July against the US dollar. Australia’s consumer sentiment worsened in March while the number of home loans declined in January. As for news outside of Australia, yesterday’s release of trade data from China was considered disappointing by market analysts, sending … “Australian Dollar Weathers Impact of Negative Fundamentals”
Trading ECB: Cheat Sheet & Bottom Line For EUR/USD –
The ECB meeting is drawing near and here is a quick and short preview from SocGen: Here is their view, courtesy of eFXnews: 1. Deposit rate: current -0.30% SG forecast: -20bp to -0.50% Consensus: -10bp Forecast range: no change to -20bp 2. Asset purchase programme : current €60bn/month until March 2017 (sovereign, ABS, CB) SG forecast: no … “Trading ECB: Cheat Sheet & Bottom Line For EUR/USD –”
ECB March Meeting: What To Expect From EUR/USD? – UOB
The ECB will probably use some tools in its shed and the euro may fall, but it will not necessarily be extreme. Here is the view from UOB: Here is their view, courtesy of eFXnews: We remain of the view that the ECB will slash the deposit rate further by 10bps to -0.4%. Whilst this is … “ECB March Meeting: What To Expect From EUR/USD? – UOB”
GBP/USD: Trading the UK Manufacturing Production
UK Manufacturing Production, a key indicator, provides analysts and traders with a snapshot of the strength of the UK manufacturing sector. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 9:30 GMT. Indicator Background The British Manufacturing … “GBP/USD: Trading the UK Manufacturing Production”
EURGBP Remains Vulnerable On Corrective Pullback
EURGBP- The cross took back all of its previous week gains to close lower the past week. This development leaves risk lower in the new week. Support comes in at 0.7700 level. Further down, support lies at the 0.7650 level where a violation will turn focus to the 0.7600 level. A break will expose the … “EURGBP Remains Vulnerable On Corrective Pullback”
Canadian Dollar Near Highest Since November vs. US Dollar
The Canadian dollar rallied today, trading near the highest level since November against its US counterpart. The rally was fueled by the rise of crude oil prices as well as the general risk-positive market sentiment. As many other currencies, the loonie fell against the greenback initially today but has bounced as of now as the US currency weakened. The strong gains of crude oil certainly contributed to the good performance of the Canadian dollar. The optimism of market participants … “Canadian Dollar Near Highest Since November vs. US Dollar”
Dollar Fails to Rally Against Euro & Pound
The US dollar was attempting to rally against such major rivals as the euro and the Great Britain pound earlier today but has failed. In fact, the currency trades below the opening level right now and continues to move lower. Last week, non-farm payrolls portrayed a confusing picture of the US jobs market, making traders doubt whether the Federal Reserve is going to tighten monetary policy further this year. It looks … “Dollar Fails to Rally Against Euro & Pound”
Euro a Little Lower on ECB Expectations
Euro is a little lower today, thanks in large part to expectations that the European Central Bank will actually have to take steps to stimulate the eurozone economy this week. However, the losses to the euro are limited, as some of these expectations have been priced in, and so far the ECB has failed to deliver on its threats. Later this week, the European Central Bank will announce its next policy moves. … “Euro a Little Lower on ECB Expectations”
UK Pound Continues to Struggle on Economy, Brexit Uncertainty
Once again, the UK pound is struggling in Forex trading. As the economy continues to lose steam, and as concerns mount that an upcoming referendum will end the United Kingdom’s participation in the European Union, the sterling is heading mostly lower today. There isn’t a whole lot of support for the UK pound today. Recent economic data indicates that the economy is losing steam. The latest Services PMI reading from Markit missed the forecast … “UK Pound Continues to Struggle on Economy, Brexit Uncertainty”