After showing some strength recently, UK pound is once again on the back foot. Concerns about the latest homebuilding data are weighing on the sterling, as are worries about what will happen with the upcoming EU referendum. Sterling got a bit of a boost not too long ago, but those gains are fading as concerns about what’s next for the United Kingdom come into focus. Construction data indicates … “Homebuilding Data, EU Referendum Uncertainty Weigh on Sterling”
Month: April 2016
Buy USD Dips Vs AUD, CAD; We Stay Short AUD/USD
The US dollar has retaken some ground but the comeback seems limited, What’s next? The team at Credit Agricole puts the finger on specific currencies: Here is their view, courtesy of eFXnews: Risk sentiment will remain driven by Fed rate expectations and conditions in China. From that angle this week’s main focus will be on Wednesday’s release … “Buy USD Dips Vs AUD, CAD; We Stay Short AUD/USD”
Sterling Dips After Release of Markit Services PMI
The Great Britain pound dipped after the release of the report about the services sector even though the indicator has improved. Analysts explain the poor reaction of the currency by the fact that expansion of the service industries remains sluggish even after the acceleration. The Markit/CIPS UK Services PMI rose to 53.7 in March, from Februaryâs 35-month low of 52.7. Nevertheless, the quarterly growth was slowest since the first three months of 2013. The situation reminds yesterday’s … “Sterling Dips After Release of Markit Services PMI”
Australian Dollar Suffers from Surprisingly Poor Economic Data
The Australian dollar sank during the Tuesday’s session. While the policy meeting of the Reserve Bank of Australia did not provide any surprise, macroeconomic data released from Australia was unexpectedly poor. The RBA kept its key interest rate at 2%, surprising no one, but mentioned again that there is “scope for easier policy, should that be appropriate to lend support to demand.” The negative surprise came from … “Australian Dollar Suffers from Surprisingly Poor Economic Data”
Falling Crude Oil Fuels Rally of Japanese Yen
The Japanese yen rallied against most other major currencies today. Analysts explained the rally by risk aversion that followed the drop of crude oil prices. Prices for crude oil fell today, sending commodity currencies (especially those directly tied to crude) down. Consequently, traders were seeking safer currencies as a mean of protection. The US dollar has lost some of its appeal due to the dovish monetary policy outlook, therefore … “Falling Crude Oil Fuels Rally of Japanese Yen”
Dollar Meanders Without Trend
The US dollar was meandering between gains and losses, exhibiting no particular trend during the Monday’s trading session. Traders continue to digest last week’s dovish remarks from Federal Reserve chief Janet Yellen and wait for more comments this week. Analysts have predicted no particular trend for the US currency, and so far their caution proved right. The greenback did not demonstrate a particular bias, rising against … “Dollar Meanders Without Trend”
Loonie Stays Mostly Lower in Currency Trading
Canadian dollar continues to head mostly lower today in currency trading on the FX market. Loonie saw a bit of a surge at the end of last week, but now the currency is settling back down. Last week ended with wild swings for the Canadian dollar. This week looks to be a little more steady for the loonie. Canadian dollar gained quickly toward the end of last week after Federal Reserve Chair Janet Yellen … “Loonie Stays Mostly Lower in Currency Trading”
AUD/USD – What’s next?
The Australian dollar reached new highs against the greenback but stalled and is now retreating. Here are two views about the pair, from ANZ and Credit Agricole: Here is their view, courtesy of eFXnews: AUD/USD: Now A Sell – Credit Agricole The AUD has been in demand for most of this year. A combination of improving … “AUD/USD – What’s next?”
Euro Upside Continues Against US Dollar
Euro continues to show resiliency, and it appears that there is the possibility of increased upside for the 19-nation currency. With the Fed backing down and the ECB largely unable to keep the euro weak, more gains could be seen in the near term. Euro is still gaining on the US dollar, heading higher as the Federal Reserve continues to put off its next rate hike. Moves by the ECB to stimulate the eurozone economy haven’t been … “Euro Upside Continues Against US Dollar”
EUR/USD: Trading the ISM Non-Manufacturing PMI
The US ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers, excluding those in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and … “EUR/USD: Trading the ISM Non-Manufacturing PMI”