EUR/USD was partially drawn down by the pound flash crash but it managed to recover. The range frustrates many and the team at SocGen sees a potential for a breakout. Here is their view, courtesy of eFXnews: EUR/USD remains locked into a narrow and somewhat unstable range, anchored by the net accumulation of EUR 600bn per annum … “Here Is How EUR/USD Would Break Out Of Its ‘Narrow”
Month: October 2016
Sep NFP: Not The ‘Smoking Gun’ For A Dec Hike;
Following the mixed jobs report, some see it as good enough for a rate hike in December, but not everybody agrees. Here is an opinion by Danske: Here is their view, courtesy of eFXnews: Nonfarm payrolls rose 156,000 in September, in line with our expectations of 160,000 but below consensus of 172,000. There were no big … “Sep NFP: Not The ‘Smoking Gun’ For A Dec Hike;”
US Dollar Ends Week with Gains Despite Weak NFP
The US dollar ended the week with gains against other most-traded currencies even as economic data released from the United States over the week was disappointing. The greenback even gained against the Canadian dollar which should have been supported by Canada’s amazing jobs data. The employment report from Automatic Data Processing released on Wednesday missed expectations, leading to concerns that Friday’s non-farm payrolls would be below … “US Dollar Ends Week with Gains Despite Weak NFP”
USD/CAD crashes after excellent Canadian jobs report
Canada gained no less than 67.2K jobs in September. This leap is easily far far better than expectations. Only 23K jobs are full time but nevertheless, this is the biggest jump since 2012. The unemployment rate remains unchanged at 7% but the participation rate jumps from 65.5% to 65.7%, and that’s good news. USD/CAD falls some … “USD/CAD crashes after excellent Canadian jobs report”
USD/CAD crashes after excellent Canadian jobs report
Canada gained no less than 67.2K jobs in September. This leap is easily far far better than expectations. Only 23K jobs are full time but nevertheless, this is the biggest jump since 2012. The unemployment rate remains unchanged at 7% but the participation rate jumps from 65.5% to 65.7%, and that’s good news. USD/CAD falls some … “USD/CAD crashes after excellent Canadian jobs report”
Great Britain Pound Crashes to New Lows Only to Recover Immediately
The Great Britain pound demonstrated a flash crash to a new 31-year low today only to recover very quickly. There were different theories about possible reasons for such behavior. The sterling sank more than 5% but almost trimmed its losses later, and the move happened in a matter of minutes. Some analysts argued that it might be so-called “fat finger” misplaced trade, an error in trading algorithms, or a technical glitch. … “Great Britain Pound Crashes to New Lows Only to Recover Immediately”
Euro Falls vs. Safer Rivals, Firm vs. Other Peers
The euro fell against its safer counterparts today but gained on the Great Britain pound at the same time. The shared 19-nation currency was also flat-to-higher against commodity currencies. Economic data released from the eurozone today was good, showing a sharp rise of industrial production in Germany and France. Yet it had no success in boosting the euro against such currencies as the US dollar, the Japanese yen, and the Swiss franc. The likely … “Euro Falls vs. Safer Rivals, Firm vs. Other Peers”
How Much Sterling Downside Ahead And Why? – Goldman
The British pound flash crashed to 1.20 before bouncing to 1.24, but things are unstable, to say the least. The team at Goldman Sachs analyzes the downside potential for sterling: Here is their view, courtesy of eFXnews: We revised our forecasts for Sterling sharply lower in July, bringing in particular our 3-month forecast for GBP/$ to … “How Much Sterling Downside Ahead And Why? – Goldman”
Great Britain Pound at New 31-Year Low
The Great Britain pound sank today, reaching a new 31-year low, as fears of Brexit continued to plague the currency. Coupled with the extremely loose central bank’s monetary policy, that makes the currency completely unattractive to traders (with the possible exceptions of bottom pickers). During the weekend, Britain’s Prime Minister Theresa May announced the time limit for a start of the Brexit process — end of March 2017. The bold stance of the nation’s leader led to speculations … “Great Britain Pound at New 31-Year Low”
Dollar Strong Ahead of Non-Farm Payrolls
The US dollar continued to dominate the Forex market today, rising against its major peers, as traders continued to speculate about the possibility of an interest rate hike in December. While yesterday’s employment data released from the United States was disappointing, initial jobless claims released today showed a drop to 249,000 last week from 254,000 registered the week before. Experts had thought that the indicator would stay unchanged. That … “Dollar Strong Ahead of Non-Farm Payrolls”