The US dollar index is higher today, but the gains are tempered by a UK pound that is gaining ground. Rate hike expectations and better economic data continue to help the greenback in currency trading, even though the US currency is lower against the sterling today. The US dollar index, a representation of the dollar’s performance against a weighted basket of currencies, is heading higher today. The dollar’s gains against the euro, the Japanese yen, … “Dollar Index Higher, But Gains Tempered by Sterling”
Month: May 2016
Japanese Yen Eases After Yesterday’s Gains
Japanese yen is easing today, trading mixed against its major counterparts following yesterday’s gains. There are still questions about what’s next for Japan, and there is always the possibility that officials will intervene to weaken the yen. Yesterday, the Japanese yen saw solid gains against many of its major counterparts. Yen gained as improved economic data and trade surplus numbers provided support. Today, there … “Japanese Yen Eases After Yesterday’s Gains”
Great Britain Pound Higher as Threat of Brexit Wanes
The Great Britain pound climbed against its most-traded peers during the Tuesday’s trading session after comments from Mark Carney, Bank of England Governor, and Brexit polls. Carney talked about downsides of leaving the European Union and upsides of staying in it. He also voiced an opinion that deflation is no longer a threat. Meanwhile, polls continue to show that the number of those who want to stay in the EU surpasses the number … “Great Britain Pound Higher as Threat of Brexit Wanes”
Interest Rate Cut Talks Weigh on Australian Dollar
The Australian dollar sank today amid speculations that the Reserve Bank of Australia may perform another interest cut after it has already slashed borrowing costs earlier this month. Australia’s central bank has surprised markets at the beginning of May, making an unexpected cut for its key interest rate. One of the reasons for the decision was the surprisingly low inflation rate. RBA Governor Glenn Stevens was speaking overnight, … “Interest Rate Cut Talks Weigh on Australian Dollar”
Spread Betting and the Brexit Vote: What Traders Need to
In the run-up to the June 23 Brexit referendum, newspaper polls, telephone polls, and Internet polls are playing second fiddle to spread betting sites which offer greater accuracy. Economists follow the money to determine likely outcome of Brexit vote The historic Brexit vote on June 23, 2016 could have far-reaching implications for the UK economy, … “Spread Betting and the Brexit Vote: What Traders Need to”
Buying USD and JPY much better choices than EUR in
In an interview with FXStreet I discussed the meaning of the Fed minutes, the impact on stock markets, what currencies to buy on a Brexit and the mysterious weakening of the Swiss franc. Here goes: Do you believe in the June rate hike chance the FOMC Minutes expressed? I remain skeptical about a June rate hike. If the … “Buying USD and JPY much better choices than EUR in”
AUD bears are coming – 2 opinions
The Australian dollar has seen better days and here are two opinion saying it could fall even more, and not only against the greenback. An assault on the lows? Here is their view, courtesy of eFXnews: AUD/USD: Staying Short Targeting Late Feb Lows – Credit Suisse AUD/USD continues to consolidate but, whilst still capped beneath … “AUD bears are coming – 2 opinions”
Canadian Dollar Kicks Off Week with Decline
The Canadian dollar was demonstrating a poor performance during the Monday’s trading session. It is hard to be surprised by this turn of events considering the noticeable decline of prices for crude oil. Futures for both Brent and WTI crude declined more than 1% intraday. While currently prices trimmed their losses a bit, they remain far below the opening level, hurting commodities tied to the performance of crude. So happens, the Canadian … “Canadian Dollar Kicks Off Week with Decline”
Brexit Continues to Weigh on UK Sterling
The Great Britain pound fell today, following the sharp drop on Friday, as market participants continued to speculate whether the United Kingdom is going to remain in the European Union. The potential exit of Britain from the EU (the so-called Brexit) is still causing concerns among investors. Prime Minister David Cameron and Finance Minister George Osborne stoked fears, talking about the possibility of a recession that the Brexit may cause. Economists argue what … “Brexit Continues to Weigh on UK Sterling”
Dollar Index Higher on Fed Rate Hike Speculation
Speculation about the next Fed rate hike is sending the US dollar index higher, and supporting the greenback against its major counterparts. Dollar is higher against many of its counterparts as Forex traders look for a rate hike by the end of 2016. US economic data has been relatively solid in recent weeks, and that is fueling speculation that the Federal Reserve will raise rates earlier than expected. Earlier … “Dollar Index Higher on Fed Rate Hike Speculation”