EUR/USD did not move too much on Draghi’s lack of details and lacks a new direction. The team at Morgan Stanley sees a bullish run and explains. Here is their view, courtesy of eFXnews: Why bank profits matter for FX? There are two main reasons why bank profitability should matter for an FX investor. Firstly, higher expected returns … “Bank Repatriation: Another Reason To Stay Bullish EUR –”
Month: September 2016
Euro Ends Week Higher vs. Dollar & Pound
One of the most important events during the trading week was the monetary policy meeting of the European Central Bank. It turned out to be relatively positive for the euro, allowing the currency to rally against the US dollar and the Great Britain pound, though the euro did not perform well against all rivals. While ECB President Mario Draghi talked about the possibility of additional monetary stimulus, he did not sound as dovish … “Euro Ends Week Higher vs. Dollar & Pound”
Canadian Dollar Ends Trading Soft
The Canadian dollar ended the Friday’s trading session very soft against its major peers. There were plenty of reasons for the currency to go down. One of such reasons was the drop of crude oil, the commodity that often strongly influences the loonie. Another reason were the rising chances for an interest rate hike from the Federal Reserve. News about nuclear tests by North Korea added to the atmosphere of risk aversion on the Forex market. … “Canadian Dollar Ends Trading Soft”
Dollar Strong Against Rivals After Rosengren Talks About Tightening
The US dollar was firm across the board as Eric Rosengren, Boston Fed President, added to the choir of policy makers speaking in favor of continuing monetary tightening. Rosengren said today: My personal view, based on data that we have received to date, is that a reasonable case can be made for continuing to pursue a gradual normalization of monetary policy. He added further that tightening is necessary to support the current … “Dollar Strong Against Rivals After Rosengren Talks About Tightening”
EUR/USD: En-Route To 1.08 As ECB Passes Baton To The
Draghi offered dovish words but never went too far regarding details. Euro/dollar maintained its strength. As the focus shifts to the Fed, the team at BNP Paribas sees weakness. Here is their view, courtesy of eFXnews: The ECB refrained from announcing new easing measures at today’s monetary policy meeting. President Mario Draghi stated in the press … “EUR/USD: En-Route To 1.08 As ECB Passes Baton To The”
Economic Data Detrimental to Australian Dollar
The Australian dollar dropped today against its most-traded peers as economic data both domestic and from abroad was detrimental to the currency. China’s Consumer Price Index rose just 1.3% in August from a year ago after rising 1.8% in the previous month. The reading was far below 1.7% predicted by analysts. As for data from Australia itself, the seasonally adjusted number of home loans dropped 4.2% in July from June, far … “Economic Data Detrimental to Australian Dollar”
Great Britain Pound Steady
The Great Britain pound was steady today following the release of economic indicators over the Friday’s trading session. Britain’s trade deficit narrowed by £1.2 billion to £11.8 billion in July, matching expectations. Construction output showed no growth in July — not a bad result considering that experts had anticipated the same 1% drop as in the preceding month. The survey performed by the Bank of England showed that inflation expectations ticked up to 2.2% … “Great Britain Pound Steady”
CAD Falls vs. USD & EUR, Beats JPY
The Canadian dollar fell against the US dollar and the euro today as mixed economic data released from Canada was not helping the currency. At the same time, the loonie outperformed the extremely weak Japanese yen. Building permits, released today, showed growth of 0.8% in July, which was far smaller than the analysts’ consensus forecast of 3.2%. Yesterday, the Bank of Canada made a decision to keep interest rates stable. Now, traders wait … “CAD Falls vs. USD & EUR, Beats JPY”
Euro Climbs as ECB Remains Passive but Struggles to Keep Gains
The euro climbed against its major rivals after the European Central Bank decided to maintain its monetary policy, leaving it without changes. Currently, the euro trimmed its gains versus the Great Britain pound and almost lost them against the US dollar but remained firm versus the Japanese yen. The ECB announced that it is leaving its interest rates at the same levels as before, including the main refinancing … “Euro Climbs as ECB Remains Passive but Struggles to Keep Gains”
US Elections: Trump tightens race – markets should notice
A clear Clinton lead and with the elections far in the future, markets did not see. However, summer is over, and the fireworks begin now. The polls have tightened towards Trump and uncertainty is higher. With uncertainty already in abundance, markets might get scared. Some currencies are set to gain and others to lose. Video … “US Elections: Trump tightens race – markets should notice”