Euro is struggling today, turning mostly lower, as concerns about Greece once again come into focus. Worries about Greece coming to an agreement with creditors are weighing on the euro, which hasn’t seen much benefit from recent ZEW data. The latest ZEW data shows stronger economic sentiment, but that hasn’t been enough to shore up the euro today. Other concerns are weighing on the 19-nation … “Euro Struggles Even After ZEW Data”
Month: April 2016
Oil Drops, Stalling Loonie’s Rally
Oil prices are dropping today, stalling the rally the Canadian dollar has been seeing in recent days. Yesterday, the loonie reached the 79-cent mark against the US dollar, and some think that Canadian dollar could breach 80 cents in the coming weeks. Canadian dollar is a little lower today against its major counterparts as oil prices fall. Earlier this week, crude oil had been on the rise as a strike … “Oil Drops, Stalling Loonie’s Rally”
ECB Preview: Hints of helicopters to push down EUR/USD?
The concept of a the central bank handing out money to citizens seems inconceivable, but when there’s a will, there might a way, especially as government seem incompetent at creating any kind of growth. Throwing money at the problem in this type of manner is still quite improbable, but the mere talk of it, even if … “ECB Preview: Hints of helicopters to push down EUR/USD?”
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 8:30 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”
EUR: ECB To Provide Further Details On Recent Easing –
The ECB meeting is getting closer. Will they try to talk down the euro? Or perhaps re-open the door to more cuts? Or maybe something else this time: Here is their view, courtesy of eFXnews: The ECB will hold its regular monetary policy meeting this Thursday. We expect no change in the monetary policy parameters this … “EUR: ECB To Provide Further Details On Recent Easing –”
US Dollar Feels Pressure from Domestic Data & Market Sentiment
The US dollar dropped today against most currencies as both domestic fundamentals and the general optimistic market sentiment weighed on the currency. The worker strike in Kuwait helped to stabilize prices for crude oil which fell on Monday. This helped commodity currencies while making safe currencies less attractive to speculators. As for US data, the housing report was very disappointing. Housing starts fell to the seasonally adjusted annual rate of 1.09 million in March … “US Dollar Feels Pressure from Domestic Data & Market Sentiment”
Yen Weaker After Crude Oil Bounces
The Japanese yen weakened today as the rally of crude oil prices and the subsequent appreciation of commodity currencies gave traders less incentive to stick to the safety of Japan’s currency. Crude oil prices plunged yesterday but managed to stage a bounce today. It was helpful to commodity-geared currencies. By the same token, safe currencies became less appealing to market participants. The yen suffered also due to the threat of monetary stimulus from Japanese policy makers. … “Yen Weaker After Crude Oil Bounces”
Australian Dollar Gains After RBA Minutes & Oil Rally
The Australian dollar gained today following the release of the latest policy meeting minutes from the Reserve Bank of Australia and the bounce of crude oil prices. The RBA minutes mentioned the strong rally of the Australian dollar, especially against its US counterpart, that is weighing on inflation in Australia: At the time of the meeting, the Australian dollar was around its highest level since mid 2015. As a result, prospects for additional monetary easing remain: Continued low … “Australian Dollar Gains After RBA Minutes & Oil Rally”
The ECB Cannot Talk The EUR Down, But Will Try
Is the EUR/USD divergence trade back? We’ll know soon enough. Here is a preview from Bank of America Merrill Lynch on the prospects for the world’s most popular currency pair and the upcoming ECB meeting. Here is their view, courtesy of eFXnews: We do not expect any ECB action at this week’s policy meeting. After the big … “The ECB Cannot Talk The EUR Down, But Will Try”
5 reasons to fade the AUD/USD rally
AUD/USD is edging closer to 0.78, the highest levels since June 2015 – a 10 month high. Markets have clearly rebounded from the Doha Disappointment and this favors risk currencies such as the Australian dollar, which has held its ground nicely when oil prices were sliding and was well positioned for a rally immediately afterwards. But taking a step … “5 reasons to fade the AUD/USD rally”