The Canadian dollar rallied against its US counterpart after the dovish comments from the Federal Reserve’s head sent the greenback tumbling. The loonie had less success against its other major rivals due to the crash of crude oil prices. The speech from Janet Yellen basically squashed hopes for an April interest rate hike and made some analysts lower the outlook for rate increases this year from two to just one … “CAD Rallies vs. USD, Less Successful Against Other Majors”
Month: March 2016
Euro Rallies vs. Dollar & Yen, Flat vs. Pound
The euro rallied together with other currencies against the US dollar after Janet Yellen, Chairperson of the Federal Reserve, signaled that monetary tightening would be cautious and gradual. The currency also rose versus the Japanese yen but remained flat against the Great Britain pound. Last week, Fed officials were talking about the possibility of an April interest rate hike. Yet that possibility all but evaporated after … “Euro Rallies vs. Dollar & Yen, Flat vs. Pound”
GBP/USD: Bottomed With Oil; Where To Target? – Nordea
The pound has suffered the fears of a Brexit, but rides higher on the dovish words of Yellen. And what about the oil connection? Here is their view, courtesy of eFXnews: The GBP has lost almost 10% since the autumn peak in effective terms and stabilised somewhat in March, supported by global risk sentiment and higher oil … “GBP/USD: Bottomed With Oil; Where To Target? – Nordea”
China Sets Higher Midpoint for Yuan Against Dollar
China has set a higher midpoint for the yuan in its peg to the US dollar today. Greenback has strengthened slightly against the yuan since the change, but this still marks an effort for a stronger yuan as the greenback heads a little lower. Short-term downward pressure on the yuan is being somewhat relieved today by the adjustment Chinese policymakers have made in the midpoint for the yuan against the US dollar. The midpoint for the yuan (also called the renminbi) was … “China Sets Higher Midpoint for Yuan Against Dollar”
Soft Data and Rate Hike Expectations Send Dollar Lower
US dollar index is lower today thanks in large part to the fact that rates hike expectations are changing. Softer data reports are weighing on the greenback and sending it lower against its major counterparts. Some analysts and traders have been holding out hope that the Federal Reserve would decide to hike rates in April. However, after the latest round of data, it appears that many will have … “Soft Data and Rate Hike Expectations Send Dollar Lower”
Yen Weaker After Release of Mixed Economic Indicators
The Japanese yen was weaker today after the release of mixed economic data from Japan. On the positive side, household spending rose 1.2% in February from a year ago while analysts had predicted a drop by 1.8%. On the negative side, the unemployment rate rose unexpectedly from 3.2% to 3.3% last month. Retail sales were up 0.5% in February 2016 from February 2015, about three times below forecasts. USD/JPY … “Yen Weaker After Release of Mixed Economic Indicators”
USD/NZD: Word Power
USD/NZD is among the top traded FX currency pairs and it shouldn’t be surprising. The Kiwi currently carries a 175 to 200 basis point spread over the US Dollar. As far as trade, the US is New Zealand’s third largest trade partner. The US exports a wide variety of industrial products, automobiles, aircraft parts, medical … “USD/NZD: Word Power”
USD/JPY: Trading the US ADP Non-Farm Payrolls
The jobs report from ADP provides a snapshot of private sector employment in the US, as well as a hint for the official Non-Farm Payrolls publication coming on Friday. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for USD/JPY. Published on Wednesday … “USD/JPY: Trading the US ADP Non-Farm Payrolls”
5 Most Predictable Currency Pairs – Q2 2016
Not all forex pairs are born equal: some move fast and others move slowly, some react to events and some don’t and most importantly: some are predictable and others just aren’t. What is a predictable currency pair? That is a pair that makes life easier for the technical trader by respecting support and resistance lines or breaking out of ranges … “5 Most Predictable Currency Pairs – Q2 2016”
Is The USD Top In? Where To Target? – NAB
The US dollar is not looking as strong as it used to be. The team at NAB analyzes: Here is their view, courtesy of eFXnews: Policy announcements from the ECB and the Fed in the last few weeks go some way to support the theory that G20 Central Bank governors came to a tacit agreement at their … “Is The USD Top In? Where To Target? – NAB”