The US dollar enjoyed a few positive figures and the tables have turned in its favor. Is there more room to the upside? Here is their view, courtesy of eFXnews: The Fed’s Rosengren said last night that the market is ‘too pessimistic’ about the US economy and the likelihood of the central bank removing accommodation is higher … “The USD Has Bottomed – Danske”
Month: May 2016
Dollar Broadly Higher amid Tightening Speculations
The US dollar was broadly higher against other currencies during this week’s trading amid speculations that the Federal Reserve may yet resume its monetary tightening. Several Fed officials were speaking this week, expressing a hawkish outlook. US policy makers talked about possibility of an interest rate hike in the near future and said that markets are wrong in believing that a rate increase is unlikely. … “Dollar Broadly Higher amid Tightening Speculations”
US Dollar Gains After Retail Sales Data
US dollar is heading higher on the latest retail sales data numbers. With data beating expectations, the greenback is gaining against its major counterparts. In April, retail sales increased by 1.3 per cent. This represents the biggest jump in a year, and beat expectations of a 1.0 per cent gain. The news is helping the US stock futures pare some of their earlier losses, as well as boosting the performance of the US dollar … “US Dollar Gains After Retail Sales Data”
Australian Dollar Weaker amid Interest Rate Cut Speculations
The Australian dollar was soft today amid speculations that the Reserve Bank of Australia is going to perform additional interest rate cuts in the near future. The RBA has surprised markets by a sudden interest rate cut last week, and some analysts say that it may do so again. Concerns about cooling economic growth in China can be one of the reasons for the central bank to ease its monetary policy … “Australian Dollar Weaker amid Interest Rate Cut Speculations”
Euro Under Pressure After Release of Eurozone Data
The euro fell today even after German economic growth exceeded analysts’ estimate. The problem was the Germany’s deflation was above expectations as well, and on top of that eurozone’s economic growth received a downward revision. Germany’s gross domestic product rose 0.7% in the first quarter of 2016, a tad faster than the consensus forecast (0.6%). But Germany’s Consumer Price Index fell 0.4% in April from March whereas experts had … “Euro Under Pressure After Release of Eurozone Data”
FXStreet launches brand new website
Leading forex portal FXStreet launches a totally redesigned version of the website. The site is fully responsive and is very easy to use and play around with as detailed in the website tour. Below you can find the full press release and a video explaining the features of the new website: Barcelona — May 13, … “FXStreet launches brand new website”
Should we worry about the US labor market?
Within the two mandates of the Federal Reserve, inflation was the weak spot and jobs were the bright spot. A very steady and solid in the amount jobs moved the focus in recent jobs reports to wages, often seen as the source of core inflation, the inflation the Fed cares about. With an unemployment rate around 5% and a … “Should we worry about the US labor market?”
Norwegian Krone Higher After Policy Decision & GDP
The Norwegian krone rose today after the Norges Bank kept monetary policy unchanged and the decent growth of Norway’s economy reduced the risk of interest rate cuts. The central bank decided to keep its key policy rate at 0.5%. The bank said in the statement: The rise in oil prices may reduce uncertainty and contribute to somewhat higher growth in the Norwegian economy. Indeed, Norway’s gross domestic product expanded 1% in the first quarter of 2016, recovering … “Norwegian Krone Higher After Policy Decision & GDP”
Yen Soft as BoJ Continues to Signal About Easing
The Japanese yen was soft today as the Bank of Japan continued to send signals about possibility of additional monetary easing. BoJ Governor Haruhiko Kuroda was talking about monetary policy in an interview today, saying that the central bank “can still ease monetary policy substantially” in case of necessity. Kuroda also voiced an opinion that the yen is overvalued. The comments reinforced the outlook for additional monetary accommodation, and some analysts speculated … “Yen Soft as BoJ Continues to Signal About Easing”
Euro Pulls Back as Economic Slowdown is Expected
Economist and analysts expect the eurozone economy to slow its rate of growth through the end of 2016, and that is weighing on the euro today. The 19-nation currency is struggling against some of its counterparts. Even though the eurozone economy grew at a faster pace during the first quarter of 2016 than either the United States or the United Kingdom, things aren’t expected to last. A recent poll addressing the eurozone economy indicates that economists and analysts … “Euro Pulls Back as Economic Slowdown is Expected”