The Japanese yen was little change today as the impact of the positive revision of Japan’s gross domestic product battled with the influence of stimulus expectations. Japanese GDP grew 0.2% in the second quarter of this year. While it was a slowdown from the previous quarter’s 0.7%, the final reading was better than the preliminary one that had showed no change at all. The report was helpful to the yen, but speculations about additional … “Yen Little Changed Following Positive Revision of Japan’s GDP”
Month: September 2016
Australian Dollar Higher After Trade Balance Improves
The Australian dollar rose today following yesterday’s drop. The currency gained thanks to the improvement of the nation’s trade balance. The trade balance deficit shrank from A$3.25 billion in June to A$2.41 billion in July. It was a better reading than the predicted A$2.65 billion. This allowed the Aussie to rally against its major peers while yesterday economic data was not as supportive, leading to a drop of the currency. AUD/USD rose from 0.7670 … “Australian Dollar Higher After Trade Balance Improves”
USD/CAD: Trading the Canadian Employment Change
Canadian Employment Change is an important leading indicator which provides a snapshot of the health of the employment market. A reading higher than the forecast is bullish for the Canadian dollar. Here are the details and 5 possible outcomes for USD/CAD. Published on Friday at 12:30 GMT. Indicator Background Job creation is one of the most … “USD/CAD: Trading the Canadian Employment Change”
![ECB Preview: Draghi drag or Super Mario? [Video]](https://investinearth.org/wp-content/uploads/2016/09/Fotolia_52150087_S-351x185-1.jpg)
ECB Preview: Draghi drag or Super Mario? [Video]
ECB President Mario Draghi maintained a surprising silence during the summer, but this is about to come to an end. Inflation disappointed once again, and the Bank now updates its forecasts. Can they provide a new raft of measures or are they out of ammunition? Markets expect minor changes, but Draghi’s magic may come back. … “ECB Preview: Draghi drag or Super Mario? [Video]”
ECB: QE Extension or no QE Extension?
The European Central Bank convenes in September 2016, the original date that QE was supposed to end. It has already been extended to March 2017. Will they already push back the end date now? Or take other measures? Here are two opposing opinions: Here is their view, courtesy of eFXnews: ECB Preview: QE Extension On Thursday; … “ECB: QE Extension or no QE Extension?”
NZD Highest in More Than Year vs. USD & EUR
The New Zealand dollar rose during the Wednesday’s session, hitting the highest level in more than a year against the US dollar and the euro. There were not many news released from New Zealand today. The only economic indicator released was manufacturing sales, and while it was good, it was not important enough to make the New Zealand currency that strong. The most likely reason for the rally was the weakness … “NZD Highest in More Than Year vs. USD & EUR”
Australian Dollar Lower as Economic Data Hurts
The Australian dollar fell against the US dollar and the Japanese yen today as domestic economic data released over the trading session was detrimental to the currency. Australia’s gross domestic product rose 0.5% in the June quarter from the previous three months. While it was not a bad reading by itself, the figure was slightly below the forecast 0.6% and noticeably lower compared to the March quarter’s 1.0%. On top of that, the Construction Index released … “Australian Dollar Lower as Economic Data Hurts”
Eurozone GDP Keeps Euro Rangebound Against Majors
Euro is trading mostly rangebound against its major counterparts today, thanks in large part to a GDP reading that didn’t surprise anyone. It’s not quite enough to make solid gains against the dollar and the yen, but bad news in the United Kingdom has the euro higher than the pound. The latest GDP reading for the eurozone, released by Eurostat, indicates that the economy for the euro region grew by 0.3 per cent. This … “Eurozone GDP Keeps Euro Rangebound Against Majors”
US Dollar Drops on Fading Rate Hike Expectations
Once again, the US dollar’s performance is being tied to rate hike speculation. With concerns about what the ISM non-manufacturing composite will show, the greenback is heading lower as rate hike expectations fade. The dollar index is dropping as traders and analysts re-think speculation about when to expect the Federal Reserve to take action again. The latest ISM data is out, and it looks as though the index fell to 51.4 … “US Dollar Drops on Fading Rate Hike Expectations”
EUR/USD En-Route To 1.08; ECB To Ease This Week – BNPP
The ECB convenes this week after an extended period of silence from Draghi and amid falling inflation. Will the magician wallop the euro? Here is their view, courtesy of eFXnews: We think the EUR is likely to fall towards the end of the year and target a drop in EURUSD to 1.08. The principal driver … “EUR/USD En-Route To 1.08; ECB To Ease This Week – BNPP”