Euro is trading mixed today, gaining against the US dollar while falling against other major counterparts. However, even though the 19-nation currency is higher against the dollar, some analysts feel that the recent rally is coming to an end and that parity with the greenback may be reached by the end of the year. A number of analysts have been wondering if the euro has been overbought. The 19-nation currency has … “Could Euro Reach Parity With US Dollar by Year’s End?”
Month: April 2016
Yen Rallies as Demand for Safety Returns
The Japanese yen rallied today as the continuing slide of crude oil prices and concerns about the Chinese economy made traders appreciate the safety of the currency yet again. Crude oil extended its earlier slide, falling more than 2% today. Economic data from China was good but led to concerns that Chinese policy makers may refrain from additional stimulus as the economy stabilizes. All those factors helped … “Yen Rallies as Demand for Safety Returns”
Australian Dollar Backs Off After Failed Rally
The Australian dollar attempted to rally with the help of Chinese economic data released today. The currency failed to maintain its rally and currently trades near the opening level against some currencies (like the US dollar) and below the opening against others (like the Japanese yen). China’s annual economic growth slowed a bit to 6.7% in the first quarter of this year from 6.8% during the previous three months but was in line with … “Australian Dollar Backs Off After Failed Rally”
EUR/USD: Bullish Momentum Faded: Range & Outlook – BTMU
EUR/USD is trading at the 1.12 handle, down from levels seen recently. The team at BTMU sees a loss of momentum for the pair and lays out the outlook. Here is their view, courtesy of eFXnews: The euro’s attempt to break higher against the US dollar following the more dovish policy signal form the Fed … “EUR/USD: Bullish Momentum Faded: Range & Outlook – BTMU”
US Dollar Keeps Strength After Mixed Data
The US dollar continued to rise against most of its rivals, though it slowed the advance and even halted it against some currencies as US inflation data was disappointing. The dollar remained strong even though US data released over Thursday was mixed. The Consumer Price Index rose less than market participants had counted on. It proved that the Federal Reserve was right in cautious approach … “US Dollar Keeps Strength After Mixed Data”
Sterling Lower After Release of BOE Minutes
Once again, the Bank of England has left rates steady, near record lows. The latest release of minutes indicates that there are still headwinds for the UK economy, and the MPC members are concerned about the possibility of an exit from the European Union (known as the Brexit). The result is a lower sterling, pretty much across the board. UK pound is heading lower today, dropping as the release of the latest minutes from the Bank of England’s … “Sterling Lower After Release of BOE Minutes”
South Korean Won Falls During Thursday’s Trading
The South Korean won fell against the US dollar today as the surprise monetary easing from the central bank of Singapore hurt Asian currencies in general while political turmoil in South Korea was hurting the won in particular. Currencies across Asia fell on Thursday after the Monetary Authority of Singapore weakened the Singapore dollar and issued a pessimistic forecast. Meanwhile, Korea’s ruling party lost its parliamentary majority after elections. This led … “South Korean Won Falls During Thursday’s Trading”
Australian Dollar Gets Help from Employment Data
The Australian dollar gained against its major peers today with the help of supportive employment data. The positive report led to speculations that the Reserve Bank of Australia may refrain from cutting interest rates further. Employment rose by 26,100 in March versus expectations of 18,600. The unemployment rate edged down from 5.8% to 5.7% while experts had predicted an increase to 5.9%. It is the lowest level in more than two … “Australian Dollar Gets Help from Employment Data”
EUR/USD: Trading the University of Michigan Consumer Sentiment Index
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and is bullish for the US dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 14:00 GMT. Indicator … “EUR/USD: Trading the University of Michigan Consumer Sentiment Index”
Yen Weaker as Traders Feel No Need for Safety
The Japanese yen was soft during Wednesday’s trading session and remained weak at the start of Thursday’s trading as signs of improvement in the global economy made the currency less desirable as a safe haven asset. While the positive news from China was beneficial for the US dollar, it was detrimental to the Japanese currency. Additionally, the yen felt pressure from speculations about a possible intervention. Overall, traders saw no benefit in buying the currency at the present … “Yen Weaker as Traders Feel No Need for Safety”