Existing Home Sales report is a leading indicator of housing activity. The indicator is released on a monthly basis, and helps analysts track consumer spending. A higher reading than that expected by the market is bullish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 14:00 GMT. … “EUR/USD: Trading the Existing Home Sales”
Month: May 2016
3 Reasons To Fade USD Gains Post-FOMC Minutes – BNPP
The dollar had a very nice ride on the hawkish minutes which included the word “June” 6 times. However, we have already posted some skeptic voices, and here’s yet another one: Here is their view, courtesy of eFXnews: The USD has continued to trade with a firmer tone after Wednesday’s FOMC minutes signalled a significantly more … “3 Reasons To Fade USD Gains Post-FOMC Minutes – BNPP”
10,000 Hours of Trading: What does It Take to Hone
The question of what it takes to become a master in any field (sport or business) has been in the epicentre of research for many years. It has occupied psychologists and philosophers alike for decades. Is it the innate talent what matters or a skill can be mastered with practice. What does it take for … “10,000 Hours of Trading: What does It Take to Hone”
Fed Drama and the dollar – 3 opinions
The Fed minutes opened the option for a June rate hike and lifted the greenback across the board, with notable moves in EUR/USD, AUD/USD and USD/CAD. What’s next? Is a June hike a certainty? Here are 3 opinions: Here is their view, courtesy of eFXnews: USD Post-FOMC Minutes: Options Open – BofA Merrill The April minutes of the … “Fed Drama and the dollar – 3 opinions”
Japan’s Economy Emerges from Recession, Yen Not Impressed
Japan’s economy emerged from a recession, growing in the first three months of 2016. Yet this did not translate into a rally of the Japanese yen. Japan’s gross domestic product expanded 0.4% in the first quarter of this year according the preliminary estimate. Economists had predicted slower growth by 0.1%. The yen had attempted to rally after the report, but the rally was short-lived. It looks like market participants were not … “Japan’s Economy Emerges from Recession, Yen Not Impressed”
Pound Firm After Employment Data & Brexit Polls
The Great Britain pound was very strong today, gaining on it major rivals, even the US dollar that itself was also firm. The reason for the amazing performance was the employment report and the Brexit polls. The polls show that more than a half of Britons prefer to stay in the European Union. It is good news for the sterling as an exit from the EU would likely cause a financial turmoil on markets. As for employment data, it … “Pound Firm After Employment Data & Brexit Polls”
FOMC Minutes: Is it really enough for a June hike?
If this was an opportunity to keep a June hike on the cards, the Fed certainly took it. We were skeptical, but the dollar certainly reacted positively, even if a hike is not a done deal. In any case, here are two different opinions: Here is their view, courtesy of eFXnews: FOMC Minutes: Hawkish Fed … “FOMC Minutes: Is it really enough for a June hike?”
Euro Loses Ground Against Dollar, Pound
Euro is lower today against the dollar and the pound as concerns about the eurozone economy compare unfavorably to better data coming out of the United States and relief out of the United Kingdom. Euro is heading lower as policy divergence becomes more likely. Better economic news out of the United States is spurring talk of a rate hike later in 2016, a move that would leave the euro behind. Also, with the chances of a Brexit … “Euro Loses Ground Against Dollar, Pound”
Kiwi Lower on New Zealand Data & US Dollar Rally
The New Zealand dollar was trading below the opening level today as poor economic data from New Zealand and gains of the US dollar put pressure on the currency. The New Zealand Producer Price Index input fell 1.0% while output was down 0.2% in March. The data was noticeably worse that economists’ predictions, and it hurt the kiwi (as the New Zealand currency is nicknamed). Meanwhile, the US Dollar Index gained … “Kiwi Lower on New Zealand Data & US Dollar Rally”
Australian Dollar Retreats as Wage Inflation Misses Expectations
The Australian dollar fell today, following yesterday’s rally, as slower-than-expected wage growth made traders reluctant to buy the currency. Australia’s Wage Price Index rose 0.4% in the March quarter from the previous three months, narrowly missing the analysts’ estimate of 0.5%. Yesterday, the Reserve Bank of Australia released minutes of its latest policy meeting, which turned out to be not that dovish, helping the Aussie to rally. Tomorrow, employment data … “Australian Dollar Retreats as Wage Inflation Misses Expectations”