The euro attempted to rise after Markit released a bunch of macroeconomic reports from the eurozone, but the rally was limited. In fact, the shared 19-nation currency even fell against some of its most-traded counterparts. Markit Purchasing Managers’ Indexes of manufacturing and services were almost all good in October, rising from September and beating expectations, be it for Germany, France, or the whole eurozone. The only disappointing one was the services PMI for France, … “Euro Struggles to Stay Above Opening Level on Monday”
Month: October 2016
STP forex broker FXCC (FX Central Clearing) Expands Payment
Online STP forex broker FXCC (FX Central Clearing Ltd) announces the expansion of their payment method offering and introduces Rapid Transfer, paysafecard and Sofort respectively as alternative regulated methods. FXCC already offers Neteller, Skrill, Bank Wire Transfer and Credit/Debit Card to its clients but recognized the need to cover broader geographical regions for forex traders. … “STP forex broker FXCC (FX Central Clearing) Expands Payment”
STP forex broker FXCC (FX Central Clearing) Expands Payment
Online STP forex broker FXCC (FX Central Clearing Ltd) announces the expansion of their payment method offering and introduces Rapid Transfer, paysafecard and Sofort respectively as alternative regulated methods. FXCC already offers Neteller, Skrill, Bank Wire Transfer and Credit/Debit Card to its clients but recognized the need to cover broader geographical regions for forex traders. … “STP forex broker FXCC (FX Central Clearing) Expands Payment”
The case for EUR/GBP longs – SocGen
While also the euro is suffering from the talk of “Hard Brexit”, the pound is the bigger loser for a nasty UK-EU breakup. And it is not the only reason for a EUR/GBP. Here is the opinion from SocGen: Here is their view, courtesy of eFXnews: How do we profit from a period of EUR/USD … “The case for EUR/GBP longs – SocGen”
GBP: ‘Pounded’: 6 Reasons To Stay Bearish Targeting 1.16
GBP/USD remained under immense pressure following Brexit and the flash crash. There could be much more in store: Here is their view, courtesy of eFXnews: There are six main reasons why we remain bearish GBP: 1. The UK economy may be about to experience a ‘once in a generation’ structural transition. A weaker GBP may be needed … “GBP: ‘Pounded’: 6 Reasons To Stay Bearish Targeting 1.16”
ECB Policy Statement Leads to Weekly Losses for Euro
One of the most important events this week was the monetary policy decision from the European Central Bank. While the ECB did not change its policy, the accompanying statement was dovish enough to send the euro crashing down against most other major currencies. ECB President Mario Draghi was rather dovish in his introductory statement to the press-conference, saying: Looking ahead, we remain committed to preserving the very substantial … “ECB Policy Statement Leads to Weekly Losses for Euro”
Dollar Rallies Against Rivals During Friday’s Trading
The US dollar was flat against the Japanese yen but rallied against other most-traded currencies during the Friday’s trading session. The major reason for the currency’s strength remained the outlook for an interest rate hike in December. Earlier this week, New York Fed President William Dudley said that he expects a rate increase this year if US economic growth remains on track. Currently, speculators price in 70% chance … “Dollar Rallies Against Rivals During Friday’s Trading”
CAD Turns Lower After Data Fails to Reach Consensus Forecast
The Canadian dollar went down today, falling for the third consecutive trading session against the Japanese yen, after economic reports released by Statistics Canada missed market expectations. The Consumer Price Index rose 0.1% in September from August (not adjusted for seasonal variations) while experts had predicted a 0.2% increase. The core CPI was up 0.2% — in line with expectations. Retail sales fell 0.1% in August from July … “CAD Turns Lower After Data Fails to Reach Consensus Forecast”
EUR/USD: En-Route To 1.05; The Divergence Trade Is Back
EUR/USD dipped its feet under 1.09 and remains under pressure. The team at ANZ sees further downside weakness. Here is their view, courtesy of eFXnews: The prospect for divergent monetary policies returning to reassert themselves as a material influence on EUR/USD seems greater in the coming months than it has been this year. As the … “EUR/USD: En-Route To 1.05; The Divergence Trade Is Back”
Pound Moves Lower as Fear of Hard Brexit Haunts Market
The Great Britain pound slipped against its most-traded peers, including the US dollar and the Japanese yen, on Friday as fear of the so-called “hard Brexit” continued to plague markets. It is expected that British Prime Minister Theresa May will have hard talks with European Union leaders during the summit in Brussels as they were not amused with Britain’s decision to leave the union. The United Kingdom will likely have … “Pound Moves Lower as Fear of Hard Brexit Haunts Market”