Dollar-Yen looks very much to the downside, says Brenda Kelly while presenting forex market forecasts. Kelly is joined by Tip TV’s Zak Mir and Nick Batsford. EUR/GBP pair has hit three-year high today despite banking sector concerns in European and signs of improvement in the UK economy ash highlighted by the sharp rise in the … “Forex forecast: USD/JPY, EUR/GBP and AUD/CAD”
Month: October 2016
Yen Slips After Tankan Survey, Tries to Regain Footing
The Japanese yen fell today after the release of Tankan survey by the Bank of Japan. The currency trimmed as losses by now, though remains below the opening level against most of its major peers. According to the survey for September, the manufacturing index for large enterprises logged the reading of 6, unchanged from the previous month, while experts were counting on a small increase. The non-manufacturing index slipped from 19 to 18, in line with expectations. Overall, the report … “Yen Slips After Tankan Survey, Tries to Regain Footing”
Date for Brexit Set, Britain’s Pound Soft
The Great Britain pound was soft today after UK Prime Minister Theresa May announced date for the start of the Brexit. The news hit Britain’s currency, and even positive macroeconomic data released on Monday was unable to help the sterling. May said that she will invoke Article 50, starting Britain’s actual separation from the European Union, no later than the end of March 2017. Meanwhile, the Markit/CIPS UK Purchasing … “Date for Brexit Set, Britain’s Pound Soft”
AUD: To Receive Short-Term Lift & RBA Unlikely To Stop
The Australian dollar had a positive quarter, making the biggest gain against the greenback among its peers. More gains could follow, at least in the short-term, says the team at Morgan Stanley. Here is their view, courtesy of eFXnews: AUD to receive short-term lift. To be clear, this is not because we are bullish on … “AUD: To Receive Short-Term Lift & RBA Unlikely To Stop”
GBP/USD: Trading the UK Services PMI
UK Services PMI is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 8:30 … “GBP/USD: Trading the UK Services PMI”
Canadian Dollar Ends Week Higher Against Most Rivals
The Canadian dollar gained against its most-traded rivals over the week with the help of crude oil rally caused by the surprise announcement from the Organization of Petroleum Exporting Countries. The OPEC made an announcement that it is going to cut its oil production in order to support prices that remain under pressure from concerns about oversupply. The announcement surprised traders as they were not expecting from the members of the organization to come … “Canadian Dollar Ends Week Higher Against Most Rivals”
Another Frustrating Year For EUR Bears: What’s Next? –
EUR/USD has been stuck in a range for quite some time, frustrating many traders. The team at Bank of America Merrill Lynch analyzes the frustration and assesses what’s next: Here is their view, courtesy of eFXnews: Another frustrating year for EUR bears Our year-ahead outlook for the Euro had warned of more frustration for EUR/USD … “Another Frustrating Year For EUR Bears: What’s Next? –”
Canadian Dollar Ends Trading Higher on Strong GDP
The Canadian dollar rose against some of its most-trading peers on Friday but gains against the US dollar were limited while against the euro the loonie ended the session flat. The main reason for the currency’s rally was the strong GDP report. Canada’s gross domestic product rose 0.5% in July after increasing 0.6% in June. That is compared to the median forecast of a 0.3% increase. The Industrial Product Price Index fell 0.5% … “Canadian Dollar Ends Trading Higher on Strong GDP”