The Canadian dollar was swinging between gains and losses during Thursday’s trading as positive domestic fundamentals were combating concerns about the impact of the Brexit on the world’s economy. Canada’s gross domestic product rose 0.1% in April, within expectations, following the drop by 0.2% the month before. The Industrial Product Price Index increased 1.1% in May. The Raw Materials Price Index rose 6.7%. Both indexes were above analysts’ forecast and both … “Canadian Dollar Swings Between Gains & Losses”
Month: June 2016
Brazilian Real Rises for Third Day
The Brazilian real rallied for the third consecutive session today, though the rally caused concerns among traders about potential intervention from the nation’s central bank. The real has gained about 6% since the Monday’s close. Intraday, the currency jumped above 3.2 per dollar for the first time in almost a year. Market analysts speculated that the strong rally may prompt the Central Bank of Brazil to curb the excessive appreciation. USD/BRL went … “Brazilian Real Rises for Third Day”
Great Britain Pound Tanks After Carney Speaks About Stimulus
The Great Britain pound tanked today, ending the two-day rally, after the chief of the nation’s central bank signaled that monetary easing may be required to help Britain weather the impact of leaving the European Union. Mark Carney, Bank of England Governor, signaled that he may implement stimulating measures as soon as this summer. He said in today’s speech: In my view, and I am not pre-judging the views of the other independent … “Great Britain Pound Tanks After Carney Speaks About Stimulus”
Orbex launches revamped website
Forex broker Orbex has made significant changes to its website. Apart from the modern look, it also provides interesting features. Here is the information from the official press release: Limassol, June 30, 2016 – Orbex, an international leader in online forex trading, is pleased to announce the launch of its newly revamped website. Today, Orbex website … “Orbex launches revamped website”
AUD/USD: Trading the Chinese Caixin Manufacturing PMI
Chinese Caixin Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible … “AUD/USD: Trading the Chinese Caixin Manufacturing PMI”
3 reasons for the extended GBP/USD rally and 3 reasons
GBP/USD is trading back at the 1.35 handle, around 400 pips off the lows seen on Monday. The reaction to Brexit was brutal but the correction is quite spectacular as well. What’s next for the pound? Will it continue higher or is the recovery over? Here are three reasons for the rise and three for the … “3 reasons for the extended GBP/USD rally and 3 reasons”
Will Brexit Break GBP But Make EUR? – Credit Agricole
Brexit has hit the pound hard but the euro is doing quite well. Here is their view, courtesy of eFXnews: Markets have calmed down overnight with GBP and less liquid G10 currencies regaining some lost ground. At the same time, USD and JPY – arguably the biggest winners of the Brexit selloff – have pared … “Will Brexit Break GBP But Make EUR? – Credit Agricole”
Gains of Turkish Lira Limited by Terrorist Attack
The Turkish lira rose against the US dollar together with other currencies but the gains were limited due to the terrorist attack in Istanbul. Most riskier currencies were rising against the dollar today. While the lira was among them, it was hurt by the attack on Istanbul’s Ataturk airport that has left at least 41 people dead. The most likely culprit was the Islamic State, though it did not … “Gains of Turkish Lira Limited by Terrorist Attack”
Aussie Moves Higher for Second Day
The Australian dollar continued to move higher, rising for the second consecutive session today, as markets were calming down after Britain’s referendum. Global stocks and crude oil were rising during Wednesday’s session as Brexit fears were waning. This led to the rally of growth-linked currencies. Experts said that one of the reasons for the improving sentiment was the outlook for a delayed interest rate hike from the Federal Reserve (and some analysts even talk … “Aussie Moves Higher for Second Day”
Why EUR Is Not A ‘Surrogate’ For Bearish GBP Trades?
Following the big Brexit, EUR/USD fell but at a much lower scale in comparison to the pound. What’s going on? The team at Morgan Stanley explains: Here is their view, courtesy of eFXnews: Looking for bearish ‘quasi GBP’ trades makes sense, but focusing on EUR is wrong. We do not disagree with views citing the risks … “Why EUR Is Not A ‘Surrogate’ For Bearish GBP Trades?”