Some say that the US elections campaigns begin in earnest only after Labor Day. That is when Americans return from a long week that marks the end of summer. It is also the time when traders who have been on vacations are all back to their desks. So far, many have followed the fascinating primaries, … “US elections: Trump gets closer to Clinton – markets”
Month: September 2016
Swiss Franc Soft Despite Supportive Economic Data
The Swiss franc traded flat-to-lower during today’s session even though Switzerland’s economic growth accelerated while deflation slowed. Swiss gross domestic product rose 0.6% in the second quarter of this year, exceeding analysts’ expectations. The Consumer Price Index fell 0.1% in August after declining 0.4% the month before. The Swiss National Bank will conduct a policy meeting next week. USD/CHF traded near its opening level … “Swiss Franc Soft Despite Supportive Economic Data”
Fed has limited time to explicitly hint a hike
In an interview I gave to FXStreet, we discussed the implications of the Non-Farm Payrolls report on a potential rate hike in September. We continued with discussing the yen, the yuan, oil and the upcoming market-moving meetings. You can read the interview in its original publication or here below: After the so-so US Employment report, do you think … “Fed has limited time to explicitly hint a hike”
Aussie Climbs After RBA Keeps Rates Stable
The Australian dollar climbed during the current trading session as the Reserve Bank of Australia refrained from cutting interest rates further during today’s policy meeting. The RBA kept its main interest rate at 1.5% as analysts had widely expected. The central bank’s statement was basically the same as the previous one and maintained a neutral stance. In other news, Australia’s current account deficit widened a bit in the June quarter compared to the previous three months … “Aussie Climbs After RBA Keeps Rates Stable”
EUR/USD getting ready for the ECB
EUR/USD wobbled quite a bit on the disappointing NFP and now it faces a critical event in the euro-zone: the ECB meeting. Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD Post NFP & Ahead Of ECB – Barclays EURUSD downside momentum waned last week following weaker-than-expected US manufacturing ISM and mixed labour … “EUR/USD getting ready for the ECB”
AUD/USD: Trading the Australian GDP
Australian GDP is the primary gauge of the production and growth of the economy. It is considered by analysts as one the most important indicators of economic activity, and a reading which is higher than expected is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at … “AUD/USD: Trading the Australian GDP”
Yen Jumps After Kuroda Speaks
The Japanese yen gained against its major rivals during the Monday’s trading session following the speech from Haruhiko Kuroda, Bank of Japan Governor. Kuroda signaled that BoJ is ready to continue monetary easing in order to achieve its inflation target: I would add that the “benefits” of achieving the price stability target of 2 percent at the earliest possible time are enormous as Japan’s economy is finally overcoming deflation that … “Yen Jumps After Kuroda Speaks”
Pound Higher vs. Dollar on UK Services PMI, Fails to Beat Yen
The Great Britain pound rallied against the US dollar for the fourth straight trading session, reaching the highest level in month and a half, after the UK services sector demonstrated a strong bounce last month. The currency was mostly higher against other majors as well but fell versus the Japanese yen, ending its four-day streak of gains. The seasonally adjusted Markit/CIPS UK Services Business Activity Index climbed from 47.4 in July … “Pound Higher vs. Dollar on UK Services PMI, Fails to Beat Yen”
EUR/USD: Trading the US ISM Non-Manufacturing PMI
The US ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers, excluding those in the manufacturing sector. Respondents are surveyed for their views on the services sector in the US. A reading which is higher than the market forecast is bullish for the dollar. Update: ISM Non-Manufacturing PMI crashes to 51.4 – … “EUR/USD: Trading the US ISM Non-Manufacturing PMI”
Brexit – Encouraging signs, but economy still not out of
Last week saw another solid report from the UK as the manufacturing PMI data emerging on the top. From July’s 85-month low of 48.3 (revised from 48.2), UK’s manufacturing PMI soared to a 10-month high in August to 53.3. The survey from Markit led David Nobel, CEO of CIPS claiming “Brexit breaks are off.” A … “Brexit – Encouraging signs, but economy still not out of”