US Advance GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity, and publication of Advance GDP could have a significant impact on the movement of EUR/USD. A reading which is better than the market forecast is bullish for the dollar. Here … “EUR/USD: Trading the US Advance GDP”
Month: October 2016
Pound Refuses to Move Far from Opening After GDP Report
The Great Britain pound continued to move largely sideways on Thursday, refusing to move far from the opening level and extending the period of consolidation that has starter a while ago. Even the positive surprise in the form of faster-than-expected economic growth did not influence the currency much. Britain’s gross domestic product rose 0.5% in the third quarter of 2016. While it was slower than the second quarter’s growth of 0.7%, it was a bigger … “Pound Refuses to Move Far from Opening After GDP Report”
How Would A Trump Presidency Affect USDCNY?
Much has been made of the potential impact of the US elections on currencies such as MXN and CAD. However, the US elections have the potential to also be a major driver for CNY in the context of broader US -China trade relations. Should Democratic candidate Clinton win the Presidency, this is likely to maintain … “How Would A Trump Presidency Affect USDCNY?”
GDP Preview: A return to the New Normal or a
Growth has been poor, hovering just above 1% in recent quarters. Expectations are for a return to the new normal of around 2.5%. The USD has the necessary momentum to absorb also 2%, but any number under this level could push back a rate hike. Also, it could serve as ammunition for Trump, adding to … “GDP Preview: A return to the New Normal or a”
Canadian Dollar Under Pressure During Wednesday’s Trading
The Canadian dollar was under pressure during the Wednesday’s trading session as falling oil prices and concerns about potential monetary easing from the Bank of Canada made the currency not particularly attractive. Performance of the loonie (as Canada’s currency is often nicknamed) is usually tied to moves of prices for crude oil. So happened that the commodity logged substantial losses and dragged the currency down along the way today. Optimism about production … “Canadian Dollar Under Pressure During Wednesday’s Trading”
US Dollar Mixed as Fed December Meeting Remains in Spotlight
The US dollar was mixed today as Forex market participants continued to speculate about whether the Federal Reserve is going to hike interest rates in December or not. For the most part, speculators continued to bet on a hike in December. The problem for the dollar is that such expectations are already reflected in the exchange rate, meaning that news supporting the idea of the December rate increase should have limited impact on the currency. On the other hand, news … “US Dollar Mixed as Fed December Meeting Remains in Spotlight”
Pound Flat While Markets Focus on Brexit & BoE Stimulus
The Great Britain pound continued to consolidate, trading mostly flat today, as market participants continued to speculate about the impact of the Brexit and chances for additional monetary easing from the Bank of England. Yesterday, BoE Governor Mark Carney said that the central bank cannot ignore the big decline of the currency since the announcement of the Brexit. That led to speculations that BoE is not going to ease monetary policy further at the next week’s meeting. … “Pound Flat While Markets Focus on Brexit & BoE Stimulus”
Australian Dollar Retreats from Session Highs, Stays Above Opening
The Australian dollar rose today following the release of better-than-expected inflation data. While the currency has retreated from the session highs as of now, it is still trading above the opening level. The Consumer Price Index rose 0.7% in the September quarter of this year from the previous three months after increasing 0.4% in the June quarter. The actual increase was above the median forecast of 0.5%. The better-than-expected data reduced chances for the Reserve Bank … “Australian Dollar Retreats from Session Highs, Stays Above Opening”
EUR/USD set to target 1.0615 – Credit Suisse
While EUR/USD continues recovering above 1.09, hopes are not so high. The team at Credit Suisse sees lower ground ahead: Here is their view, courtesy of eFXnews: EURUSD paused to catch its breath holding near the recent lows. This leaves the trend still directly lower to test price support next at 1.0826/22 ahead of the … “EUR/USD set to target 1.0615 – Credit Suisse”
GBP/USD: Trading the UK Preliminary GDP
UK Preliminary GDP, published each quarter, is the first of three GDP releases. GDP measures production and growth of the economy, and is considered by analysts one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the pound. Here are all the details, and 5 … “GBP/USD: Trading the UK Preliminary GDP”