The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and is bullish for the US dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 14:00 GMT. Indicator … “EUR/USD – Trading the UoM Consumer Sentiment”
Month: June 2016
EU Referendum’s EUR collateral impact
The EU Referendum in the UK also has an impact on the main currency of the EU, the euro. The common currency could suffer or enjoy the impact. The team at Citi analyzes the potential move. Here is their view, courtesy of eFXnews: Whatever the outcome of the referendum, trading should expect contagion (both good … “EU Referendum’s EUR collateral impact”
Become a Better Forex Trader: Delineating Good Work Ethics
Delineating good work ethics is vital to the success of a forex trading career. With a tough and unpredictable market, forex traders must apply strong work ethics to stay focused and achieve their goals. Good work ethics enhances diligence and hard work that leads to better executions and quality trading performance. When a trader consistently … “Become a Better Forex Trader: Delineating Good Work Ethics”
Canadian Dollar Heads for Fifth Day of Gains vs. US Dollar
The Canadian dollar climbed against its US counterpart for the fourth day in a row on Wednesday and continued to move up during Thursday’s early trading. The currency was little changed against such majors like the euro and the Japanese yen. The main reason for the loonie’s rally against the greenback was US employment data released on Friday. The report was abysmal, basically erasing any chances for an interest rate hike during next week’s meeting … “Canadian Dollar Heads for Fifth Day of Gains vs. US Dollar”
New Zealand Dollar Soars After RBNZ Keeps Rates on Hold
The New Zealand dollar climbed after the Reserve Bank of New Zealand left the Official Cash Rate unchanged. The fact that the central bank talked about the possibility of a rate cut in the future did not deter the currency’s rally. The RBNZ provided no surprise, keeping its benchmark interest rate at 2.25%. The central bank talked about risk and uncertainties, both international (like global growth and commodity prices) and domestic (like inflation). … “New Zealand Dollar Soars After RBNZ Keeps Rates on Hold”
Swiss Inflation Misses Expectations, Franc Unfazed
Switzerland’s inflation missed economists’ forecasts, yet this did not prevent the Swiss franc from extending its rally against other majors, including the US dollar and the euro. The Swiss Consumer Price Index rose 0.1% in May from the previous month. That is compared to the average forecast of 0.2% and the April’s 0.3% increase. The underwhelming data did not prevent the Swissie from rising for the third consecutive day against the euro … “Swiss Inflation Misses Expectations, Franc Unfazed”
EUR/USD: Difficult To See N-Term Direction; Targets Into June
The team at SEB tells us the frustrating truth: EUR/USD is stuck again. However, we have an end date for this, and hen things could turn different: Here is their view, courtesy of eFXnews: In our view, the timing of the next Fed rate hike will depend on the economy continuing to progress, the labour … “EUR/USD: Difficult To See N-Term Direction; Targets Into June”
Yen Climbs as Japan’s GDP Finalized in Positive Territory
The Japanese yen climbed today after the final revision of Japan’s gross domestic product confirmed growth of the nation’s economy. First quarter’s GDP rose 0.5% in the first quarter of this year according to the revised estimate, a bit more than the preliminary 0.4%, after falling 0.3% in the fourth quarter of 2015. Meanwhile, the current account surplus shrank from â¥1.89 trillion in March to â¥1.63 trillion in April. Apparently, markets paid no heed … “Yen Climbs as Japan’s GDP Finalized in Positive Territory”
RBA Decision Helps Aussie Gain Ground
The most recent decision from the Reserve Bank of Australia is helping the Aussie today. Additionally, expectations for an improved economy are helping the Down Under currency make some strides against its major counterparts. The RBA decided to stand firm on interest rates today, disappointing some Forex traders and analysts who had been hoping for further easing after last month’s interest rate cut. The RBA is keeping the cash … “RBA Decision Helps Aussie Gain Ground”
UK Pound Higher as Wild Swings Accompany Brexit Speculation
UK pound is swinging wildly today, partly due to a suspected fat-finger trade, and partly due to the speculation accompanying the possibility of a Brexit from the European Union. There is a lot of uncertainty right now, and sterling has been moving between gains and losses the last couple of days. Yesterday, the UK pound dropped dramatically against its major counterparts as a poll indicated that those in favor of a Brexit were ahead of those in favor of remaining. … “UK Pound Higher as Wild Swings Accompany Brexit Speculation”