Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian Employment Change”
Month: July 2016
New government, new direction for the pound?
UK PM Theresa May has entered Downing 10 and appointed Phillip Hammond as Chancellor of the Exchequer. Until they both get used to their new roles, the pound moves mostly on the BOE. Here are two opinions on the next direction of the pound: Here is their view, courtesy of eFXnews: GBP/USD Squeeze Won’t Go … “New government, new direction for the pound?”
Euro Trades Mixed as Forex Traders Consider What’s Next
Euro is trading mixed today, gaining against currencies like the dollar and yen, but falling against the pound. Risk appetite is helping the 19-nation to some degree, but there are still questions about what’s next for the eurozone and Forex traders are considering what the Brexit might mean. There are some factors weighing on the euro right now. Concerns about what’s next for the eurozone are providing some … “Euro Trades Mixed as Forex Traders Consider What’s Next”
Sterling Nears 1.33; What’s Next? – JP Morgan, BofA
GBP/USD continued its recovery following the sudden political certainty in the UK. But after a 450 rally, what’s next? Here are 3 opinions: Here is their view, courtesy of eFXnews: Sterling has marched steadily higher in recent sessions, as the market’s worst fears about the UK voting to leave the European Union have faded. Nevertheless, … “Sterling Nears 1.33; What’s Next? – JP Morgan, BofA”
Great Britain Pound Jumps as Markets Welcome New Prime Minister
The Great Britain pound jumped today as the market sentiment continued to improve following the news about Britain getting a new Prime Minister. The currency demonstrated the biggest one-day gain since the huge drop after the Brexit vote. The sterling has strengthened since the announcement that Home Secretary Theresa May is going to replace David Cameron as the new Prime Minister. The initial reaction to the news was muted as the currency just trimmed its … “Great Britain Pound Jumps as Markets Welcome New Prime Minister”
Japanese Yen Drops on Expectations for More Stimulus
Japanese yen is heading lower today, thanks in large part to expectations for future stimulus. Risk appetite is on the rise today and that is having its impact on low beta currencies like the yen. However, the yen also has the added pressure related to the expectation that Shinzo Abe will be able to continue his stimulus measures. Over this past weekend, the upper legislative house in Japan held an election … “Japanese Yen Drops on Expectations for More Stimulus”
Risk Appetite Sends US Dollar Lower Against Majors
US dollar is heading lower against its major counterparts today as risk appetite increases. Financial sentiment seems to be increasing around the world, Alcoa earnings are providing a shot in the arm for US stocks, and it appears tightening is off the table for the near term. Greenback is down today as the latest financial information helps spur a little extra risk appetite. Financial sentiment, even after the Brexit and in light … “Risk Appetite Sends US Dollar Lower Against Majors”
Forecast for Sterling Bearish due to Outlook for BoE Decision
Things were not looking good for the Great Britain pound after the Britons had decided to the leave the European Union, and nothing has changed yet. In fact, the bearish outlook gains strength. The major event for the currency this week will the Bank of England policy meeting. Even before the Brexit, weak economic indicators were causing speculations about possible interest rate cuts. Now, as the Brexit threatens the economy of the United Kingdom (most … “Forecast for Sterling Bearish due to Outlook for BoE Decision”
Canadian Dollar Follows Crude Oil to Downside
The Canadian dollar fell during the current trading session, yet again following the moves of crude oil. Today, crude went down, and so did the currency. Nevertheless, the loonie managed to outperform the yen, which tumbled even harder. Prices for oil declined due to concerns about oversupply on the market. Output from the Organization of Petroleum Exporting Countries hit the 8-year high. The number of US oil rigs reported by Baker Hughes increased by 10 … “Canadian Dollar Follows Crude Oil to Downside”
Pound Bounces as Theresa May Remains Single Candidate for PM
The Great Britain pound bounced during the American trading session as one of the contenders for the Prime Minister seat has exited the race, leaving just one candidate for the office. This reduced political uncertainty in the country that is getting ready for leaving the European Union. Theresa May won the race for leading the United Kingdom even before the elections as her rival, Andrea Leadsom, has ended a disastrous election campaign prematurely. Now, it … “Pound Bounces as Theresa May Remains Single Candidate for PM”