US dollar is remaining steady against the euro and the pound as risk aversion remains an issue. However, the greenback continues to fall against the yen. The minutes from the latest Federal Reserve meeting are reinforcing the cautious tone put forward by Janet Yellen recently. As a result, hopes for a June interest rate hike are fading. The news has the greenback continuing its fall against the Japanese yen, which has been gaining ground … “US Dollar Steady Against Euro and Pound, Down Against Yen”
Month: April 2016
USD/CAD: Trading the Canadian Employment Change
Canadian Employment Change is an important leading indicator which provides a snapshot of the health of the employment market. A reading higher than the forecast is bullish for the Canadian dollar. Here are the details and 5 possible outcomes for USD/CAD. Published on Friday at 12:30 GMT. Indicator Background Job creation is one of the most … “USD/CAD: Trading the Canadian Employment Change”
UK Pound Continues Decline
UK pound continues to decline as stocks fall and as risk aversion sets in. However, even though these are issues that can weigh on sterling, there isn’t much reason for some of the recent losses. Yes, data has been lackluster, but there aren’t new data prints to warrant the most recent rout for the UK pound. Right now there is nothing that should be triggering some of the earlier … “UK Pound Continues Decline”
Divergence, Risk Aversion Weigh on Euro
Euro is trading mixed against its major counterparts today, falling against the dollar and the yen as risk aversion continues. Many also expect to see a revival of the divergence trade between the dollar and the euro. The 19-nation currency is higher against the pound, though, as the sterling appears on the verge of collapse. Forex traders and analysts are waiting for the release of minutes from the latest meetings of the ECB and Federal Reserve. Many expect to see signs of divergence … “Divergence, Risk Aversion Weigh on Euro”
Yen Remains Powerhouse, Reaching Multi-Year Highs
The Japanese yen remains a powerhouse on the Forex market, continuing to rise higher and higher. The currency was trading near the highest level since October 2014 versus the US dollar and close to the strongest rate since October 2013 against the Great Britain pound. The strong currency undermines attempts of Japanese policy makers to revive the nation’s economy. Therefore, speculations persist that the Bank of Japan is going to make its monetary policy even … “Yen Remains Powerhouse, Reaching Multi-Year Highs”
Australian Dollar Benefits from China’s Data
The Australian dollar traded above the opening level today after the release of positive macroeconomic data from China. As of now, the currency has trimmed its gains but remains above the opening. The Caixin China Services PMI rose from 51.2 to 52.2 in March. That is compared to the consensus analysts’ estimate of 51.4. Additionally, crude oil maintained its earlier rally, helping currencies related to raw materials. AUD/USD rose from … “Australian Dollar Benefits from China’s Data”
EUR/USD: ‘Torturing The Bears’: What’s Next? – BofA Merrill
EUR/USD is off the highs but also refusing to fall. What’s next? The team at Bank of America Merrill Lynch explains how markets are torturing the bears: Here is their view, courtesy of eFXnews: Themes: the Fed in the driver’s seat. Our last report argued that the March ECB meeting would be the most difficult in recent … “EUR/USD: ‘Torturing The Bears’: What’s Next? – BofA Merrill”
Japanese Yen Remains Among Strongest Currencies
The Japanese yen remains one of the strongest currencies (if not the strongest) as risk aversion plagues the Forex market, increasing the attractiveness of the currency in its role of a safe haven. There were quite a few reasons for the yen to rally. The persisting concerns about global growth (as was highlighted in the speech of IMF chief Christine Lagarde) was one of them. The drop of global stocks was another. The risk-adverse sentiment made commodity currencies weaker. Conversely, … “Japanese Yen Remains Among Strongest Currencies”
Canadian Dollar Slides, Attempts to Rebound
The Canadian dollar fell today after the nation’s trade balance worsened unexpectedly. The currency is trying to regain its footing with the help of crude oil rally. Canada’s trade deficit widened from C$628 million in January to C$1.9 billion in February. It was a total surprise to economists who had promised the trade balance to turn into a surplus of C$0.9 billion. There is a hope for the loonie to rebound with the help of crude … “Canadian Dollar Slides, Attempts to Rebound”
Dollar Index Gains as Traders Shun Riskier Assets
Dollar index is heading higher today as traders shun riskier assets. Stocks are dropping, as are oil prices. Traders are turning away from riskier assets in favor of safe havens, and that is helping the greenback to some degree. US dollar is higher against high beta currencies like the euro and the pound today as risk aversion sets in. Stocks and oil are lower around the world, and there … “Dollar Index Gains as Traders Shun Riskier Assets”