GBP/USD has been struggling with 1.30, as talk of a “Hard Brexit” talk prevails. What’s next? The next few days could see downside pressure: Here is their view, courtesy of eFXnews: There is no doubt that uncertainty has increased and we’d agree that business investment is likely to be a major drag on UK economic growth. … “GBP: Some Profit-Taking On Shorts Into Quarter-End; We Stay”
Month: September 2016
Canadian Dollar Struggles to Keep Gains
The Canadian dollar was attempting to move lower on Wednesday after showing a decent performance on Tuesday despite the drop of crude oil prices. Usually, the loonie moves in tandem with crude oil — the major export of Canada. Yet it was not doing so on Tuesday, the same as on Monday. Unlike on Monday though, the currency was moving up while the commodity was moving lower. The reason for the currency’s strength was the victory of Hillary Clinton … “Canadian Dollar Struggles to Keep Gains”
US Dollar Mixed amid Barrage of News
The US dollar rose against the euro and the Swiss franc on Tuesday but was flat versus the Japanese yen and fell against other most-traded currencies. There were plenty of different factors contributing to the performance of the US currency. US economic data was beneficial to the greenback, supporting the currency against its rivals. The dollar’s strength against the euro can be also explained by concerns about Deutsche Bank — Germany’s biggest bank that … “US Dollar Mixed amid Barrage of News”
Brazilian Real Gains vs. US Dollar During Tuesday’s Trading
The Brazilian real rose against the US dollar today even though experts are expecting that the Central Bank of Brazil is going to cut interest rates in October. The central bank predicted in its inflation report that inflation will fall below the target 4.5% in 2017 and drop even more in 2018. The forecast made analysts speculate that an interest rate cut is almost guaranteed. Yet the real gained nevertheless … “Brazilian Real Gains vs. US Dollar During Tuesday’s Trading”
Yen Recovers After Intraday Drop
The Japanese yen fell intraday due to the surge of risk appetite but regained its strength as of now and is trading near the opening level. Commodity currencies were rising while the yen was falling during the Tuesday’s session. The reason for that was the general consensus that Hilary Clinton won the Monday’s presidential debates with Donald Trump. That led to a rally of riskier assets as markets prefer to see Clinton as a president. Consequently, … “Yen Recovers After Intraday Drop”
USD Vulnerable To The Downside Vs JPY In The Run
The US election season is getting into high-gear with one presidential debate behind us and two more to go. And markets are beginning to watch. The team at BTMU explains the risks in USD/JPY: Here is their view, courtesy of eFXnews: The yen has weakened modestly in the Asian trading session following yesterday’s first US Presidential debate. … “USD Vulnerable To The Downside Vs JPY In The Run”
Will the BoE Be Forced to Cut Rates?
During its first meeting held after the historical rate cut in August, the Bank of England’s Monetary Policy Committee (MPC) maintained the status quo and left its key policy rates unchanged at 0.25%. The central bank also continued its asset purchase programme of GBP 60 billion of government bonds, taking the overall purchases to GBP … “Will the BoE Be Forced to Cut Rates?”
Will the BoE Be Forced to Cut Rates?
During its first meeting held after the historical rate cut in August, the Bank of England’s Monetary Policy Committee (MPC) maintained the status quo and left its key policy rates unchanged at 0.25%. The central bank also continued its asset purchase programme of GBP 60 billion of government bonds, taking the overall purchases to GBP … “Will the BoE Be Forced to Cut Rates?”
EUR/USD: Struggle Between Bulls And Bears Drags On: Levels
EUR/USD is grinding higher but still struggles for a new direction. The team at JP Morgan describes the battle between the bulls on the bears: Here is their view, courtesy of eFXnews: Since EUR/USD bottomed at 1.0462 in March 2015 it formed a broad consolidation triangle (A-B-C-D-E, green) which could be complete as the market stalled … “EUR/USD: Struggle Between Bulls And Bears Drags On: Levels”
Canadian Dollar Falls on Monday, Rally of Crude Oil Doesn’t Help
The Canadian dollar fell against its major peers on Monday despite the rally of Canada’s most important export commodity — crude oil. Prices for crude oil rallied more than 3% during Monday’s session, but that did not reflect on the Canadian currency. Usually, the loonie moves in tandem with the commodity, but this time it broke away, falling even as crude was rising. Concerns about the outcome of the US … “Canadian Dollar Falls on Monday, Rally of Crude Oil Doesn’t Help”