The Great Britain pound fell today against its major peers, though it was heading to weekly gains against most currencies (with the exception of the very strong US dollar). The sterling continued to recover from the “flash crash” that has happened on October 7. While the currency fell sharply to new multi-year lows, it has recovered very quickly, leaving market participants puzzled and guessing about reasons for such … “Great Britain Falls, Heads to Weekly Gains”
Month: November 2016
Euro Slips Against US Dollar as Draghi Supports Monetary Stimulus
The euro is set to continue its strike of losses against the US dollar on Friday, which would mark its 10th day of declines. The shared currency lost all its momentum against the greenback as Donald Trumpâs win in the presidential election was followed by a stream of positive data in the USA, at a time when the Eurozone economy remained relatively fragile. The euro lost more support today as European Central Bank President Mario Draghi … “Euro Slips Against US Dollar as Draghi Supports Monetary Stimulus”
Turkish Lira Hits Record Low as Markets Anticipate Fed Hike
The Turkish lira fell today, hitting a record low, as the hawkish outlook for Federal Reserve’s monetary policy and the resulting strength of the US dollar led to weakness of emerging markets’ assets. Fed Chairwoman Janet Yellen testified yesterday, and markets considered her comments as a signal that an interest rate hike is coming. CME FedWatch page shows 90% probability of a hike in December. Moreover, there is a 50% change of another hike in June … “Turkish Lira Hits Record Low as Markets Anticipate Fed Hike”
Mexican Peso Extends Slump Despite Interest Rate Hike
The recent slump of the Mexican peso, which followed the unexpected outcome of the US presidential elections prompted the central bank of Mexico to raise interest rates yesterday. But that did not help the currency much, and it continued its drop today. The Banco de Mexico increased its benchmark rate by 50 basis points to 5.25% yesterday. It is the highest level in more than 7 years. While the move was not … “Mexican Peso Extends Slump Despite Interest Rate Hike”
Technical levels for majors, minors, and crosses – mid-November
In the two videos below, we provide an update on technical lines of support and resistance to watch out for in mid-November. Trump’s victory certainly shifted the price for some pairs, but other remain remarkably stable. Lines of support and resistance for the major pairs: EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD and USD/CHF after the … “Technical levels for majors, minors, and crosses – mid-November”
US Dollar Steadies as Fed Chair Janet Yellen Supports Raising Interest Rates
The US dollar recovered all of the losses it made earlier on Thursday following the testimony of Federal Reserve Chair Janet Yellen in front of Congress, in which she said that increasing interest rates soon is appropriate and should place the US economy on the right track. Yellen spoke to Congressâs Joint Economic Committee at 15:00 GMT today. In her remarks she said that the moderate growth seen in the worldâs largest economy should … “US Dollar Steadies as Fed Chair Janet Yellen Supports Raising Interest Rates”
British Pound Loses Gains as Brexit Overshadows Impressive Retail Sales Growth
The British pound appreciated on Thursday against the US dollar following the release of retail sales data, which showed the strongest growth in 14 years. However, the UK currency was unable to maintain its gains as uncertainty about the nationâs future as a member in the European Union overshadowed the positive data. A report issued by the Office for National Statistics earlier today said that retail sales volumes rose by 1.9% in October from September, which is … “British Pound Loses Gains as Brexit Overshadows Impressive Retail Sales Growth”
CAD: Post-Trump: 3 Drivers; All CAD Bearish – Citi
The Canadian dollar did not react positively to Trump’s Triumph. The team at Citi sees further downside risk: Here is their view, courtesy of eFXnews: We see three main drivers for CAD in the wake of Trump victory: 1) US fiscal policy and tax reform, 2) trade treaty discussions, and 3) rates differentials. All imply … “CAD: Post-Trump: 3 Drivers; All CAD Bearish – Citi”
![Donald drives the dollar higher – explained [Video]](https://investinearth.org/wp-content/uploads/2016/11/Fotolia_120038479_S-351x185.jpg)
Donald drives the dollar higher – explained [Video]
The US dollar was rallying with hopes for a Clinton victory and plunged on initial news that Trump is on his way to the White House. But things changed quite quickly. Why? We explain the moves and wonder if they could continue for a long time. A week after the elections, only some of the … “Donald drives the dollar higher – explained [Video]”
US Dollar Surges to Its Highest Level Since 2003 on Trump’s Fiscal Policy
The dollar rose to its strongest level since 2003 against the euro and a basket of major currencies on Wednesday. The US currencyâs surge that lasted for six days in a row drew strength from speculations that President-elect Donald Trump might increase fiscal spending. Investors expect that US inflation will get a strong push from the administration of Trump, which is set to introduce new tax cuts and increase fiscal spending … “US Dollar Surges to Its Highest Level Since 2003 on Trump’s Fiscal Policy”