The first debate in the British Parliament came and went and perhaps the correction in GBP/USD followed. Cable is hanging around 1.22 after a roller-coaster. The pair had already dipped to the 1.20 handle before climbing back up, but now it’s down. With a dollar-positive outcome from the meeting minutes and ongoing worries about Brexit, there’s room … “GBP/USD – Is the correction over?”
Month: October 2016
Japanese Yen Falls as Kuroda Talks About Easing Yet Again
The Japanese yen weakened today against the majority of its most-trade peers (with the exception of the euro) after Bank of Japan Governor Haruhiko Kuroda reiterated yet again that the central bank is ready to implement additional monetary easing if necessary. Kuroda continued to talk about his commitment to ease monetary policy further if BoJ members think that the economic situation warrants such move: We are prepared … “Japanese Yen Falls as Kuroda Talks About Easing Yet Again”
Australian Dollar Climbs After Consumer Sentiment Report
The Australian dollar rallied today following the release of the positive consumer sentiment report that made interesting comments about probability of an interest rate cut from the Reserve Bank of Australia. The Westpac Melbourne Institute Index of Consumer Sentiment climbed by 1.1% in October. Westpacâs Chief Economist Bill Evans commented on chances for a rate cut, saying that, while “a significant number of commentators have been predicting a rate cut in November,” he does … “Australian Dollar Climbs After Consumer Sentiment Report”
September payrolls: Neither here nor there
Summary: US economy posts 72 consecutive months of positive jobs However, jobs slow for the third consecutive month July/August payrolls revised lower by 7k Fed’s Mester: 75k – 120k needed to keep unemployment stable (3-month average of +190k) Participation rate rises from 62.8% to 62.9% Wages up 2.60% from a year ago Following a steady … “September payrolls: Neither here nor there”
South African Rand Plunges as Pravin Gordhan Summoned to Court
The South African rand plummeted today after Finance Minister Pravin Gordhan was officially summoned to court. The Finance Minister was accused in unconstitutional creation of a special investigation unit during his time as head of the tax department. Gordhan called the accusation “political mischief.” The minister is respected by financial markets, and the news about what is widely considered to be political struggle between the Finance Minister and President Jacob Zuma was … “South African Rand Plunges as Pravin Gordhan Summoned to Court”
Pound Remains on Path of Steady Decline
The Friday’s flash crash of the Great Britain pound did not result in panic sell-off as some might have expected, but the currency remained on the path of steady decline. The sterling crashed to a new 31-year low on Friday due to unknown reasons only to recover minutes later. While the crash was written off as an erroneous trade, concerns about the Brexit remained, keeping pressure on the currency. There were reports that Britain’s exit from … “Pound Remains on Path of Steady Decline”
EUR/USD: Watching The Daily Triangle For Breakout Signals –
EUR/USD was shaken by the pound flash crash but remained in range. The team at JP Morgan analyzes the numbers: Here is their view, courtesy of eFXnews: EUR/USD failure to stabilize above a projected E-wave target at 1.1347 (int. 61.8 %) seven weeks ago leaves EUR/USD at great risk of having completed a 1 ½ year old … “EUR/USD: Watching The Daily Triangle For Breakout Signals –”
Reasons for the Pound fall are real, pressure remains to
In an interview with FXStreet, we talked about the crash in the pound, the strength of the US dollar, the direction of gold and what traders can do to protect themselves. You can read the original here or below: After Friday’s flash crash, where’s the GBPUSD headed in the upcoming weeks? What are the key levels … “Reasons for the Pound fall are real, pressure remains to”
Mexican Peso Soars After Second US Presidential Debates
The Mexican peso rallied today after the second US presidential debates ended and it looked like chances for victory in the race remained in favor of Hillary Clinton. The voters’ sentiment swung further in the favor of Clinton following the debates over the weekend. Support for Donald Trump diminished after the scandal concerned with his vulgar comments towards women revealed on a 2005 video, though he dismissed them as “just words.” The peso is considered … “Mexican Peso Soars After Second US Presidential Debates”
Yen Recovers After Dropping on Kuroda’s Comments
The Japanese yen slipped during the current trading session Haruhiko Kuroda, Bank of Japan Governor, pushed back date for reaching the target inflation level. The has currency managed to recover after the initial drop and trades near the opening level as of now. Kuroda said in an interview to Bloomberg today that he does not expect inflation to reach the target 2% level until 2018 instead of 2017 as it had been previously expected. … “Yen Recovers After Dropping on Kuroda’s Comments”