The Great Britain pound fell today, heading to the worst week in five. Apparently, Brexit fears have returned to the market, driving speculators away from the currency. Previously, the sterling was supported by surprisingly good economic data. But now, traders are speculating that the actual exit has not yet begun and the economy may yet suffer when the process officially starts. Yesterday’s policy statement from the Bank of England was … “Pound Drops, Heads to Weekly Losses”
Month: September 2016
Is EUR/USD the new USD/JPY?
At least in terms of its price action, the behavior of both currencies pairs has switched positions. EUR/USD is not what it used to be, frustrating many traders. Here are details of this change, ones that still leave us hopeful for a reversal. USD/JPY – from boredom to action USD/JPY has been a boring currency pair for … “Is EUR/USD the new USD/JPY?”
USD/CAD: A Sell At 1.3250 With A Tight Stop; USD/JPY:
Dollar/CAD and Dollar/JPY are moving quite a bit while many traders focus on EUR/USD and GBP/USD. What’s next for these pairs? Here is the view from Westpac: Here is their view, courtesy of eFXnews: USD/CAD: The renewed decline in oil prices and last week’s dovish tilt from the BoC (“risks to the profile for inflation have tilted … “USD/CAD: A Sell At 1.3250 With A Tight Stop; USD/JPY:”
CHF Gains on USD, GBP & EUR After Central Bank’s Meeting
The Swiss franc gained on some of its most-trade counterparts, including the US dollar, the euro, and the Great Britain pound, following today’s monetary policy meeting of the Swiss National Bank. The SNB announced that it is keeping interest rates stable: The Swiss National Bank (SNB) is maintaining its expansionary monetary policy. Interest on sight deposits at the SNB is to remain at â0.75% and the target range for the three-month Libor is unchanged … “CHF Gains on USD, GBP & EUR After Central Bank’s Meeting”
Pound Somewhat Soft After BoE Policy Announcement
The Great Britain pound fell today (though the drop was limited) after the Bank of England left its monetary policy unchanged but signaled that additional stimulus remains a possibility. The BoE left its policy without change, with the Bank Rate at 0.25% and the asset-purchase program at £435 billion. The bank signaled in its statement that an additional interest rate cut is possible in the future: The Committee will assess … “Pound Somewhat Soft After BoE Policy Announcement”
Aussie dollar looking for a direction
The Australian dollar is at crossroads against the US dollar and also against the New Zeland dollar. Here are two opinions about the next moves: Here is their view, courtesy of eFXnews: AUD/NZD: S/T Sidelined, M/T Bullish – ANZ The AUD/NZD is once again approaching range extremes while at the same time increasingly diverging from historical … “Aussie dollar looking for a direction”
New Zealand GDP Trails Expectations, NZ Dollar Gives Ground
The New Zealand dollar lost its footing, falling against major rivals, after the GDP report missed forecasts made by analysts. New Zealand gross domestic product rose 0.9% in the June quarter, the same as in the previous three months. While not a bad reading by itself, it failed to reach the 1.1% growth predicted by forecasters. That is not good news, especially considering that just next week the Reserve Bank … “New Zealand GDP Trails Expectations, NZ Dollar Gives Ground”
Australian Dollar Remains Steady After Employment Data
The Australian dollar held steady after the surprise results provided by the employment report. The data surprised analysts, circumventing their forecasts completely. Australian employment shed 3,900 jobs in August even though experts had predicted a big increase by 15,200. At the same time, the unemployment rate ticked down to 5.6% whereas specialists had anticipated it to remain stable at 5.7%. Overall, the data did nothing to change the fact that the Aussie was … “Australian Dollar Remains Steady After Employment Data”
EUR/USD: Trading the UoM Consumer Sentiment Index
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and is bullish for the US dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 14:00 GMT. … “EUR/USD: Trading the UoM Consumer Sentiment Index”
10 Reasons Why The Fed Will Not Hike This Year – Danske
Brainard downed hopes of a Fed hike in September, yet the team at Danske takes another step further and lists 10 reasons for not seeing a Fed hike this year at all. Here is their view, courtesy of eFXnews: 10 reasons why we believe the Fed will not hike this year: 1. GDP growth has slowed markedly to … “10 Reasons Why The Fed Will Not Hike This Year – Danske”