The Australian dollar rose today, jumping more than 1% against its US counterpart, as the nation’s supporting leading indicators added to the upward momentum of the currency caused by the investors’ appetite for riskier assets. The Conference Board Leading Economic Index for Australia increased 0.4% in July after rising 0.3% in June. Meanwhile, traders were unwinding their long positions on the US dollar ahead of this week’s policy meeting of the Federal Reserve. Another … “Aussie Trades Higher After Release of Leading Index”
Month: September 2016
New Zealand Dollar Trades Higher on Monday
The New Zealand dollar gained today thanks to both good macroeconomic data released from New Zealand itself and the general risk-positive market sentiment. The Westpac McDermott Miller Consumer Confidence Index ticked up from 106 in August to 108 in September. The report commented on the result: This pick-up in consumer confidence comes on the back of firm economic activity through mid-2016, with the latest GDP figures showing that the economy expanded by a solid … “New Zealand Dollar Trades Higher on Monday”
USD/CAD En-Route To 1.37; CAD: Slipping Further Down US
The Canadian dollar had its time in the sun, rising against the greenback when oil prices were advancing. The tables have turned, and the loonie could further fall. Here is their view, courtesy of eFXnews: The value of trade between the US and China overtook that between the US and Canada as the world’s largest last … “USD/CAD En-Route To 1.37; CAD: Slipping Further Down US”
NZD/USD: Trading the New Zealand GDT Price Index
New Zealand GDT Price Index is released every two weeks. It measures the change of price in dairy products sold at auction. A reading which is higher than the market forecast is bullish for the New Zealand dollar. Here are the details and 5 possible outcomes for NZD/USD. Published on Tuesday (Tentative). Indicator Background This indicator is closely watched as the … “NZD/USD: Trading the New Zealand GDT Price Index”
Swiss Franc Joins Dollar & Yen in Rally
Risk aversions was the theme of talks during the past trading week. Unsurprisingly, this helped currencies considered to be a safer option, like the Swiss franc, which was the third strongest on the Forex market following the US dollar and the Japanese yen. The franc rallied even though domestic fundamentals were not supportive to the currency, with the Swiss National Bank continuing to make attempts to weaken the franc. Meanwhile, the dollar continued to get support … “Swiss Franc Joins Dollar & Yen in Rally”
Cautiously hawkish – the Fed’s fine balance – BofA
The Federal Reserve convenes in one of the most closely watched rate decisions. While a rate hike is not expected, the message will be closely watched. Here is a roadmap of expectations according to Bank of America Merrill Lynch. Here is their view, courtesy of eFXnews: While the FOMC is unlikely to deliver a rate hike, the … “Cautiously hawkish – the Fed’s fine balance – BofA”
Dollar Strong After Inflation Beats Expectations
The US dollar was strong against its major rivals today as the inflation reading beat expectations, adding fuel to speculations about eventual interest rate hike from the Federal Reserve. The Consumer Price Index rose 0.2% in August, beating market expectations of a 0.1% increase. Meanwhile, the Consumer Sentiment Index reported by the University of Michigan remained stable at 89.8 in September. While it was a bit disappointing as experts had promised a small … “Dollar Strong After Inflation Beats Expectations”
Trader of the Year is back for the 10th time
FXStreet and Hantec Markets present the 10th edition of Trader of the Year. You can sign up here. The contest features very interesting prizes and Forex Crunch is happy to be a media partner. Use the hashtag #FXSTraderofTheYear when tweeting about this event. You can read more in the original publication You can sign up here or … “Trader of the Year is back for the 10th time”
Trader of the Year is back for the 10th time
FXStreet and Hantec Markets present the 10th edition of Trader of the Year. You can sign up here. The contest features very interesting prizes and Forex Crunch is happy to be a media partner. Use the hashtag #FXSTraderofTheYear when tweeting about this event. You can read more in the original publication You can sign up here or … “Trader of the Year is back for the 10th time”
Japanese Yen Higher amid Quiet Trading
The Japanese yen rose against its major peers today even though there were few news pieces to drive the currency one way or the other. With the current session being light on data and events, traders turn their attention to the future. The most important things next week are policy meeting of the Federal Reserve and the Bank of Japan. Market participants do not count on the Fed to tighten its policy and the BoJ to add … “Japanese Yen Higher amid Quiet Trading”