![ECB Preview: Draghi drag or top-tapering? EUR/USD awaits [Video]](https://investinearth.org/wp-content/uploads/2016/12/Fotolia_51353181_S-351x185.jpg)
It is money time for the European Central Bank: more QE or less QE? That is the question. A 6-month extension is on the cards and is already priced in, but the ECB could also opt for a longer extension that would hurt the euro or tapering bond-buys down, pushing the common currency higher. Apart … “ECB Preview: Draghi drag or top-tapering? EUR/USD awaits [Video]”
Month: December 2016
EUR: In A Very ‘Precarious’ Position Into ECB: Scenarios
ECB day is here. Our preview discusses a Draghi-drag vs. Top-tapering. The team at TD outlines the various scenarios: Here is their view, courtesy of eFXnews: The range of potential ECB outcomes is larger as the FX response will depend not only on the actual decisions taken, but also on how the market interprets the policy intent … “EUR: In A Very ‘Precarious’ Position Into ECB: Scenarios”
Canadian Dollar Climbs Against British Pound on Improving Oil Prices
The Canadian dollar was boosted against the British pound on Wednesday. The commodity currency has been supported by rising oil prices since the Organization of the Petroleum Exporting Countries announced that a deal to cut oil output was made in its meeting last week. The oil cartelâs long awaited agreement is the first of its kind in 8 years, and it aims to improve oil prices by reducing the organizationâs collective daily production by 1.2 … “Canadian Dollar Climbs Against British Pound on Improving Oil Prices”
Sterling Drops, Hurt by Britain’s Manufacturing Data
The Great Britain pound dropped today as the surprisingly poor manufacturing report hurt the currency’s appeal to investors, overshadowing decent housing data. Britain’s manufacturing production fell 0.9% in October from the previous month while industrial production declined as much as 1.3%. Analysts totally missed the mark with their forecasts of a 0.2% increase. Meanwhile, the similar forecasts for the Halifax House Price Index proved to be correct (it indeed rose 0.2% … “Sterling Drops, Hurt by Britain’s Manufacturing Data”
US Dollar Remains Steady on Anticipation for ECB Policy Decision
The dollar remained little changed against the euro on Wednesday, as traders braced for a monetary policy decision from the European Central Bank on Thursday. The bankâs decision might bring increased quantitative easing to the European Union. The European Central Bank holds a meeting tomorrow, with expectations generally pointing to an extension for its quantitative easing program. However, traders are still uncertain whether the bank will maintain its monthly asset purchases at the same … “US Dollar Remains Steady on Anticipation for ECB Policy Decision”
Australia Dollar Drops After Economy Declines
The Australian dollar fell today after economic data revealed that Australia’s economy contracted unexpectedly in the third quarter of this year. Australia’s gross domestic product declined 0.5% (seasonally adjusted) in the September quarter of 2016 from the previous three months. The actual reading was far worse than the increase by 0.2% predicted by analysts. It is interesting to note that the Reserve Bank of Australia expected slower growth (though not … “Australia Dollar Drops After Economy Declines”
BOC and USD/CAD – 3 previews
The Bank of Canada decides for the last time in 2016. What will it be? Here are three previews: Here is their view, courtesy of eFXnews: CAD: BoC On Hold For Sometime But Risks Slightly To The Downside – Nomura The Bank of Canada (BoC) holds its next policy meeting on Wednesday. At the October … “BOC and USD/CAD – 3 previews”
EUR: This Week’s ECB Meeting Holds 2 Questions – Goldman
The European Central Bank convenes tomorrow. After this preview from Morgan Stanley, we have one here from Goldman Sachs: Here is their view, courtesy of eFXnews: For markets, this week’s ECB holds two questions. First, will there be a formal taper decision. Second, if there is no formal announcement to this effect (our base case is for a … “EUR: This Week’s ECB Meeting Holds 2 Questions – Goldman”
British Pound Gives up Earlier Gains Against US Dollar
The British pound erased its earlier gains after the currency moved higher against the US dollar on Tuesday. Mixed sentiments between traders followed a legal case that is presented in front of the Supreme Court of the United Kingdom, which might delay the nationâs departure from the European Union. The Supreme Court started hearing the British governmentâs appeal over its ability to trigger Article 50 without needing a parliamentary approval. The government … “British Pound Gives up Earlier Gains Against US Dollar”
US Dollar Remains Stable Against Euro as Traders Brace for Upcoming Policy Meetings
The US dollar had a tight range of movement against the euro on Tuesday, as currency traders anticipated upcoming monetary policy meetings in major economies. The Governing Council of the European Central Bank meets in Frankfurt on Thursday to decide its future monetary policy. While the Federal Open market Committee gathers next week in a meeting that is expected to end with a decision to raise interest rates in the United States. Following a drop against the shared … “US Dollar Remains Stable Against Euro as Traders Brace for Upcoming Policy Meetings”