Euro is heading lower today, dropping on disappointing economic data and concerns that the eurozone will see more slowing. Concerns about the various countries in the eurozone are weighing on the 19-nation currency. The latest flash eurozone PMI reading has disappointed analysts and Forex traders alike, and is resulting in a much lower euro today. The 19-nation currency is struggling against most of its counterparts today as economic concerns once again … “Euro Drops as Economic Data Disappoints”
Month: May 2016
NZD Struggles to Keep Rally vs. USD, Falls vs. JPY
The New Zealand dollar was trying to extend its rally versus the US dollar but is struggling to keep rising as of now. The currency fell against the Japanese yen. Some analysts explained today’s gains of the kiwi versus the greenback by profit-taking following the week of the US dollar’s rally. Fundamentally, nothing has changed, and the threat of monetary tightening from the Federal Reserve continues to weigh on all rivals of the US currency. Coupled with the softness … “NZD Struggles to Keep Rally vs. USD, Falls vs. JPY”
![What Trump vs. Clinton means for currencies [Video]](https://investinearth.org/wp-content/uploads/2016/05/Fotolia_35419148_S-351x185.jpg)
What Trump vs. Clinton means for currencies [Video]
The latest Real Clear Politics polling average already shows a dead-heat race between Hillary Clinton and Donald Trump. The candidates are very different not only in foreign policy but also for markets. We discuss the potential for currency markets in the road to the November elections. Politics will play a bigger role in moving markets. … “What Trump vs. Clinton means for currencies [Video]”
Yen Trades Higher After Mixed Data
The Japanese yen climbed against its major peers today even though macroeconomic data from Japan was mixed, failing to provide a direction for the currency. On the positive side, the nation’s trade surplus widened from ¥â0.3 trillion in March to ¥â0.43 trillion in April, exceeding analysts’ predictions. On the negative side, the Nikkei Flash Japan Manufacturing Purchasing Managersâ Index fell from 48.2 to 47.6 in May, demonstrating the biggest decline of the manufacturing sector … “Yen Trades Higher After Mixed Data”
The Fuel to get you Started
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US Dollar Ends Week Strong with Help from Fed Minutes
The US dollar ended the week strong against the majority of other most-traded currencies thanks to the minutes of the Federal Reserve policy meeting. The only currencies that have shown resilience against the greenback were the Great Britain pound and the New Zealand dollar. The US dollar had been strong even before the past week amid monetary tightening speculations, but chances for an actual interest rate hike in the near future looked fairly low. … “US Dollar Ends Week Strong with Help from Fed Minutes”
Canadian Dollar Trades Lower due to Poor Macroeconomic Indicators
The Canadian dollar traded lower against its most-liquid counterparts, including the US dollar and the euro (but not including the Japanese yen) due to the worse-than-expected macroeconomic data released from Canada today. Canada’s Consumer Price Index rose 0.3% in April from the month before (not seasonally adjusted) while analysts were counting on an increase by at least 0.4%. Retail sales dropped 1% in March, also showing a worse performance than … “Canadian Dollar Trades Lower due to Poor Macroeconomic Indicators”
Dollar Higher amid Summer Hike Talks
The US dollar traded higher against most of its major peers, though it was not able to beat all of them. Among the currencies that stood strong against the greenback was the euro, though currently EUR/USD is trying to move closer to the opening level. The Dollar Index was up 0.13% as market participants continued to discuss the possibility of an interest rate hike from the Federal Reserve in summer. William Dudley, President … “Dollar Higher amid Summer Hike Talks”
Great Britain Pound Falls, Still Heads to Weekly Gains
The Great Britain pound fell against the US dollar and the euro today due to signs that the Bank of England may decide to ease its monetary policy. BoE officials suggested that an interest rate cut may be necessary to fuel economic growth, and this led to a drop of the sterling during the current trading session. Yet the currency was still heading to weekly gains as prospects for Britain’s exit from the European Union waned. … “Great Britain Pound Falls, Still Heads to Weekly Gains”
Threat of Intervention Discourages Traders from Buying Yen
The Japanese yen traded lower today as the threat of an intervention continues to loom over the currency, discouraging traders from buying it. Haruhiko Kuroda, Governor of the Bank of Japan, reiterated yesterday that he is ready to add stimulus if he deems that necessary. Kuroda told reporters: Be it exchange rates or anything, if it has negative effects on our efforts to achieve our price-stability target, and from that … “Threat of Intervention Discourages Traders from Buying Yen”