The Great Britain pound gained today with the help of surprisingly strong retail sales. It was just another evidence that the Brexit had no impact on Britain’s economy, at least not yet. British retail sales climbed 1.4% in July after falling 0.9% in June. The actual increase was far above the predicted growth by meager 0.1%. The report another positive indicators released earlier this week, which were … “Pound Rises with Strong Retail Sales”
Month: August 2016
Australian Dollar Rallies After Employment Data, Trims Gains
The Australian dollar gained today following the release of a very positive employment report, though the currency has trimmed its gains as of now. Australian employers added 26,200 jobs in July, more than two times the median analysts’ forecast (10,200). Furthermore, the June’s increase was revised from 7,900 to 10,800. And on top of that, the unemployment rate ticked down unexpectedly from 5.8% to 5.7%. AUD/USD was up from 0.7653 to 0.7682 … “Australian Dollar Rallies After Employment Data, Trims Gains”
USD/CAD: Buying Dips Trageting A Move Into Mid-1.30s In
The Canadian dollar enjoyed the rising price of oil but this may not last too long. Here is an outlook from BofA: Here is their view, courtesy of eFXnews: We have maintained our CAD negative view although it has rallied a little in the past few days on the back of stronger oil. We continue to expect … “USD/CAD: Buying Dips Trageting A Move Into Mid-1.30s In”
FOMC responses – December a possibility
The Fed minutes showed some desire for a rate hike, but only from a “couple” of members. A move in September is unlikely, but December is still on the cards. Here are two opinions: FOMC Minutes: ‘Clock Is Ticking For Next Fed Hike But Not In September’ – SEB Our conclusion: Members of the FOMC are … “FOMC responses – December a possibility”
Australian Dollar Follows NZ Peer into Decline
The Australian dollar demonstrated the same performance as its New Zealand counterpart, falling against other most-traded currencies even though Australia’s economic indicators were good. The Wage Price Index rose 0.5% in the June quarter, the same as in the previous three months and matching market expectations. The Leading Index also rose a bit. Yet all that did not prevent a decline of the Australian dollar, which was trading at the lowest level in about … “Australian Dollar Follows NZ Peer into Decline”
NZ Dollar Fails to Keep Gains Despite Helpful Economic Data
The New Zealand dollar climbed earlier today after the release of positive macroeconomic reports, but the rally was short-lived, and now the currency is trading far below the opening level. New Zealand employment rose 2.4%, four times the forecast rate of growth. The unemployment rate fell unexpectedly from 5.2% (revised from 5.7%) to 5.1%. The Producer Price Index increased 0.9%, also beating expectations. Yet all the positive reports … “NZ Dollar Fails to Keep Gains Despite Helpful Economic Data”
Euro Mostly Higher Today as Experts Talk of Reform
With all that’s going on right now, it seems as though euro should be heading lower. However, the 19-nation currency is mostly higher today, gaining against many of its counterparts. Euro is down against the US dollar, but seeing success against other currencies. There is a lot happening right now in the eurozone, but that isn’t stopping investors today. Investors are buying eurozone … “Euro Mostly Higher Today as Experts Talk of Reform”
US Dollar Gains on Revived Hopes of a 2016 Rate Hike
US dollar is heading higher today, gaining as hopes are revived for another rate hike by the end of the year. Inflation numbers weren’t as low as expected, and many Forex traders are looking for reasons to be positive about the greenback. US dollar is higher against its major counterparts today, gaining ground as speculation that another rate hike could come before the end of the year. Even though the latest report … “US Dollar Gains on Revived Hopes of a 2016 Rate Hike”
EUR/USD on higher ground – further gains or falls?
EUR/USD is trading around the post-Brexit highs after making a nice break. What’s next for the pair? Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD Will Reach 1.20 Before It Reaches 1.00 – Danske Growth. US growth surprised on the downside in Q2, but recent labour market data has surprised on the … “EUR/USD on higher ground – further gains or falls?”
Loonie Mixed Despite Supportive Fundamentals
The Canadian dollar climbed against its US peer but dropped against the euro and the Japanese yen despite the support from rising oil prices and manufacturing sales. Prices for crude oil, Canada’s major export, rallied during the Tuesday’s session, helping the loonie (as the Canadian currency is nicknamed) in the process. Market analysts are worried, though, that unless crude continues go higher the currency will have hard times keeping … “Loonie Mixed Despite Supportive Fundamentals”