EUR/USD is struggling with Brexit and there is more potential to the downside. And that’s not the only reason. Here is their view, courtesy of eFXnews: We are lowering our 3m EURUSD forecast to 1.05 from 1.17 previously, reflecting the likely growth spillover into the wider European region from the UK’s woes. Our former forecast had … “EUR/USD: En-Route To 1.05 In 3M; Market To Keep Selling”
Month: July 2016
Australian Dollar Rallies as Markets Calm Down
The Australian dollar rallied during the current trading session as markets continued to calm down after the Brexit shock. Market participants were hoping that central banks across the world are going to implement stimulating measures, helping the global economy to weather the impact of Britain’s exit from the European Union. Such view led commodities higher, helping growth-related currencies (like the Australian dollar) along the way. It is important to note … “Australian Dollar Rallies as Markets Calm Down”
Pound Gains, Disregarding Deteriorating Construction Sector
The Great Britain pound managed to carve out gains during the Monday’s trading session even though Britain’s construction sector logged an unexpected decline in June. The currency has trimmed its gains but is trading above the opening level at the present time. The Markit/CIPS UK Construction Purchasing Managersâ Index tanked from 51.2 in May to 46.0 in June. The actual figure was far below the 50.6 reading predicted by analysts. The reading … “Pound Gains, Disregarding Deteriorating Construction Sector”
GBP/USD: Trading the UK Services PMI
UK Services PMI is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Tuesday at 8:30 … “GBP/USD: Trading the UK Services PMI”
Great Britain Pound Fails to Recover After Brexit
The Great Britain pound was attempting to recover during the past trading week following the previous week’s Brexit shock. But it failed to do so due to the prospects for monetary stimulus from the nation’s central bank. Markets were calming down after the Brexit shock, and many currencies were slowly trimming their losses. The sterling was attempting to follow suit. Yet the rebound was undermined by the comments from Mark Carney, … “Great Britain Pound Fails to Recover After Brexit”
Mexican Peso Drops Following Interest Rate Hike
The Mexican peso trades below the opening level as of now even though the nation’s central bank made a bigger interest rate hike than experts had predicted. The Bank of Mexico raised its main interest rate by 50 basis points. Most analysts were counting on an increase by just 25 points. The hike followed the peso’s drop to record lows after the Brexit. USD/MXN was up 0.64% to 18.3982 as of 17:30 GMT today. … “Mexican Peso Drops Following Interest Rate Hike”
Brazil’s Central Bank Intervenes to Weaken Real
The Brazilian real dropped today after the central bank intervened on currency markets to curb the excessive appreciation of the real. The Brazilian currency has demonstrated the biggest monthly rally in 13 years during June. The Central Bank of Brazil reacted by selling $500 million in reverse swaps. Experts say that it doesn’t look like the bank targets some specific exchange rate but rather tries to reduce exposure to foreign exchange markets … “Brazil’s Central Bank Intervenes to Weaken Real”
GBP/USD forecasts for 1, 3 and 12 months post-Brexit
One week after the big Brexit crash and as a new quarter begins, it is time to lift our heads from the near term and look forward. Here are forecasts for the next month, 3 months and 12 months: GBP/USD in July 2016 Uncertainty has an immediate impact on financial markets and also on business, studies, … “GBP/USD forecasts for 1, 3 and 12 months post-Brexit”