A rebounding housing market is helping the UK pound today. Sterling is higher against some of its major counterparts, even though the long-term expectations are for a downside, due to continued Brexit concerns. Even though there are still concerns about the UK economy, things are looking a little better right now. The latest economic data comes in the form of a Nationwide House Price report for the month of August, showing that … “Housing Market Helps UK Pound Today”
Month: August 2016
New Zealand Dollar Rises Despite Falling Business Confidence
The New Zealand dollar rose against its major rivals during the current trading session even though the business confidence eased during this month. The ANZ Business confidence eased from 16.0 to 15.5 in August. Nevertheless, the tone of the report was rather upbeat: Business confidence and firmsâ own activity expectations were broadly unchanged in August, but stronger after adjusting for seasonality. Furthermore, the report said: The economy is … “New Zealand Dollar Rises Despite Falling Business Confidence”
Hungarian Forint Declines with Foreign Investment
The Hungarian forint dropped against the US dollar today as investors were reluctant to bring money into the nation’s economy. According to Reuters, the volume of investments in Hungary tumbled 20.3% in the second quarter of this year from a year ago. Analysts gave hope, saying that inflows may resume next year. Despite the drop, the forint stayed near the highest level in almost six months. USD/HUF was up 0.31% to 278.76 as of 11:20 … “Hungarian Forint Declines with Foreign Investment”
GBP/USD: Trading the UK Manufacturing PMI
The UK 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 the UK. A reading which is higher than the market forecast is bullish for the pound. Update: UK Manufacturing PMI jumps to 53.3 – GBP follows … “GBP/USD: Trading the UK Manufacturing PMI”
Falling Oil Prices Continue to Weigh on Canadian Dollar
Falling oil prices are weighing on the Canadian dollar again. With economic data still a little lackluster for Canada, and a housing bubble still threatening, there isn’t a lot to support the loonie right now. As a result, the Canadian dollar is lower against many of its major counterparts. Oil prices are putting a squeeze on the Canadian economy. With oil prices falling again, and with oil prices down over the long term, … “Falling Oil Prices Continue to Weigh on Canadian Dollar”
Euro Mostly Stuck in Forex Trading
Euro is mostly stuck today, trading rangebound. Euro is mainly lower against its counterparts in Forex trading, although there are some small gains against some of the euro’s trading partners. For the most part, euro’s performance is in wait and see mode as traders await the next round of US data and the ECB interest rate decision next week. Euro is trading mostly rangebound today, logging small … “Euro Mostly Stuck in Forex Trading”
Is the Fed nearing a hike? NFP is a make or break moment
The dollar rallied on Yellen’s Jackson Hole speech and the consequent comments by Fischer and the upcoming Friday became much more important. Will the NFP justify a rate hike on September 22bnd? Here are two opposing opinions: Here is their view, courtesy of eFXnews: This Week’s NFP Data To Reinforce Our Fed Call For A September … “Is the Fed nearing a hike? NFP is a make or break moment”
USD/CAD: Trading the Canadian GDP
Canadian GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Wednesday at 12:30 … “USD/CAD: Trading the Canadian GDP”
Coming Rate Hike Sends US Dollar Higher
US dollar is gaining against all comers today, thanks to expectations that a rate hike is coming by the end of 2016. Between the latest clues in economic data and Janet Yellen’s speech in Jackson Hole last week, many expect to see at least one more rate increase from the Fed before the year closes out. Last week in Jackson Hole, Fed Chair Janet Yellen laid out her plan … “Coming Rate Hike Sends US Dollar Higher”
UK Pound Continues to Struggle on Brexit Fallout
Even though the UK economy hasn’t seen dramatically weak results since the Brexit vote, there are expectations that things could change in the coming months and years leading up to the actual “divorce” from the eurozone. Right now, comments from an economist are weighing on the sterling. The UK pound was struggling prior to the Brexit vote as the sluggish economy worked to move forward. Following the Brexit vote, though, the sterling has struggled … “UK Pound Continues to Struggle on Brexit Fallout”