The Great Britain pound continued to move lower against the US dollar today after demonstrating the biggest one-day loss since February yesterday. Surprisingly enough, the currency performed even worse than the euro. The pound sank 1.1% yesterday after the news about bombing in Brussels and extended its move down today. One could have though that the euro would be hit harder by the news, but it was not … “Pound Continues to Move Lower Against Dollar”
Month: March 2016
GBP/USD: Trading the UK Retail Sales
UK 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 Thursday at 9:30 GMT. Indicator Background Retail Sales is the primary gauge of consumer spending, a critical component of economic growth. An … “GBP/USD: Trading the UK Retail Sales”
Brent Crude looking toppy, Dow represents confusion, USD/CAD downside
“The market is seeing signs of topping”, says Craig Erlam, Senior FX Analyst for Oanda, as he joins today’s Tip TV Finance Show to discuss the technical outlook for Brent Crude Oil, Dow Jones, and USD/CAD. Key Points: Brent Crude – looking toppy, ran into resistance quickly, signs that momentum being drained out. Fundamentally can’t … “Brent Crude looking toppy, Dow represents confusion, USD/CAD downside”
Aussie Finds Help of House Prices & Stevens’ Speech
The Australian dollar gained against the US dollar and the euro today after the release of housing prices data and the speech of central bank chief. The House Price Index rose 0.2% in the December quarter from the September quarter, more than most analysts had forecast. Meanwhile, Glenn Stevens, Reserve Bank of Australia Governor, delivered a speech today, stating that the Australian economy is rather resilient: The local economy has been improving … “Aussie Finds Help of House Prices & Stevens’ Speech”
Yen Rises After Bombing in Brussels
The Japanese yen rose as the series of explosions in Brussels led to a surge of demand for safety. So happens, the yen is one of the first choices investors usually take when they seek safe assets. Two explosions hit the Belgian capital, one in the airport and one in the metro. More than a dozen people reported dead and more than 100 injured. There are speculations that the bombing was a suicide attack in response to the arrest of a suspected … “Yen Rises After Bombing in Brussels”
GBP: Trading Brexit: The Long & Short Of It – CIBC
Should I stay or should I go? This is the question facing Brits regarding the European Union membership. And what will happen to the pound? The team at CIBC weighs in: Here is their view, courtesy of eFXnews: Financial markets are starting to take it seriously, and with good reason. Polls show a tightening race … “GBP: Trading Brexit: The Long & Short Of It – CIBC”
NZ Dollar Weak on Monday
The New Zealand dollar declined against its US counterpart today as traders thought that the greenback’s decline last week was overdone. The kiwi was also weak against its other major peers. The US Federal Reserve shocked markets last week by trimming its forecast for monetary tightening, promising just two interest rate hikes this year instead of the previous prediction of four. The announcement led to a crash of the US … “NZ Dollar Weak on Monday”
Euro Retains Much of Its Strength
Euro is still trading relatively strong against most of its major counterparts. Even though the 19-nation currency is down against the dollar today, it isn’t down by very much and it is largely holding its ground. Much of this has to do with the fact that ECB policymakers are finding it difficult to continue to talk the euro down. Euro is mostly higher today when trading … “Euro Retains Much of Its Strength”
Canadian Dollar Dragged Down by Crude Oil, Attempts to Recover
The Canadian dollar went lower against its major counterparts, the US dollar in particular, tracking the decline of crude oil. The currency is attempting to recover right now. The Canadian currency is strongly tied to the performance of crude, and lately the correlation became even stronger than usual as the loonie was moving in lockstep with moves of oil prices. Therefore, it was unsurprising that the currency fell today as crude oil was falling … “Canadian Dollar Dragged Down by Crude Oil, Attempts to Recover”
Outlook for Dollar Unclear
The US dollar tumbled last week due to the unexpectedly dovish comments of the Federal Reserve, though the currency has started to recover by the weekend. What can traders expect from the greenback this week? This trading week is relatively light on economic data. The most important economic release should be the final revision of US gross domestic product for the fourth quarter. Yet the report will be released on Friday, meaning that … “Outlook for Dollar Unclear”