When the Reserve Bank of New Zealand released its OCR rate decision statement on 9 June, it began with a note of optimism: “…Global financial market volatility has abated and the outlook for global growth appears to have stabilised after being revised down successively over recent quarters. There has been a modest recovery in commodity … “AUD/NZD: Playing it Cool”
Month: June 2016
GBP/USD: Trading the UK Claimant Count June 2016
The UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. It provides a snapshot of the strength of the UK employment market. A reading which is better than the estimate is bullish for the pound. Here are the details and 5 possible outcomes for GBP/USD. Published on Wednesday at … “GBP/USD: Trading the UK Claimant Count June 2016”
Canadian Dollar Attempts to Recover After Falling on Monday
The Canadian dollar fell on Monday, following the drop of crude oil prices, though the currency is trying to recover during early Tuesday’s trading. Crude declined on Monday and continued to move down on Tuesday. Usually, the loonie follows movement of oil prices, but currently it is trying to break the correlation. The currency may have a hard time recovering from losses due to the market sentiment that is unfavorable to currencies linked to growth … “Canadian Dollar Attempts to Recover After Falling on Monday”
Pound Feels Weight of Brexit Fears
The Great Britain pound continued to feel the weight of Brexit fears. While the currency was attempting to hold its ground on Monday, it looks like the sterling has buckled under the pressure, falling during Tuesday’s early trading. Polls show increasing desire among Britons to leave the European Union. The Orlando shooting did not help the matter as there are plenty of people in the United Kingdom that blame immigrants for their problems, … “Pound Feels Weight of Brexit Fears”
Sell USD/JPY – Barclays Trade Of The Week
The yen enjoys safe haven flows and the USD will probably not enjoy a hawkish Fed.These are the main reasons for going short on Dollar/yen. Here are more reasons: Here is their view, courtesy of eFXnews: Currency investors should consider selling USD/JPY this week, advises Barclays Capital in its weekly FX pick to clients. “We recommend short … “Sell USD/JPY – Barclays Trade Of The Week”
Polish Zloty Falls After Comments of MPC Member
The Polish zloty fell today after a member of central bank’s Monetary Policy Council signaled that the National Bank of Poland would accept depreciation of the currency if it happens Jerzy Kropiwnicki said that it would be “acceptable” if the zloty tumbles to record lows after the Brexit vote. He noted that a weaker currency would be beneficial to nation’s exporters. The zloty, which was already under pressure … “Polish Zloty Falls After Comments of MPC Member”
Mexican Peso Drops amid Unfavorable Market Sentiment
The Mexican peso dropped against the US dollar today as the market sentiment was detrimental to risky assets of emerging markets. Concerns about the Brexit, the potential interest rate hike from the Federal Reserve, and economic slowdown in China deterred investors from buying currencies associated with risk. The Mexican central bank hiked interest rates in February, bolstering the peso, but the effect of the hike has waned as of now. Bank’s Governor Agustin Carstens … “Mexican Peso Drops amid Unfavorable Market Sentiment”
US Dollar Pulls Back on Uncertainty
US dollar is mostly lower today, pulling back as Forex traders review possibilities and prepare for the Federal Reserve policy decision later this week. Greenback has given up some of its recent gains, and the dollar index is lower today. Greenback is heading lower against its major counterparts today, dropping after seeing some gains last week. Part of the losses are likely due to profit … “US Dollar Pulls Back on Uncertainty”
GBP: Weaker By Christmas, In Or Out: How To Trade
The pound certainly suffered amid growing fears of Brexit and a worsening global situation. In or out, the team at SocGen sees further falls: Here is their view, courtesy of eFXnews: Less than two weeks before the referendum on UK membership of the EU leaves us even more hostage to fortune than usual, but we expect … “GBP: Weaker By Christmas, In Or Out: How To Trade”
EUR/USD, EUR/GBP, EUR/CHF: Levels For ‘Brexit’ Or ‘Bremain’ –
After the pound suffered yet another blow on Brexit fears, here is an updated map of risks for the main protagonists on both EU Referendum outcomes according to Danske: Here is their view, courtesy of eFXnews: There are now only 13 days to the UK’s EU referendum. Our base case has been and continues to be that the … “EUR/USD, EUR/GBP, EUR/CHF: Levels For ‘Brexit’ Or ‘Bremain’ –”