The Bank of Canada convenes amid a stronger CAD following the OPEC Accord. What will they do? Here is their view, courtesy of eFXnews: The Bank of Canada will hold its last meeting of the year on Wednesday. We and consensus expect the BoC to keep the overnight rate unchanged at 0.5%. External uncertainty has … “CAD: The BoC Does Not React To Hypotheticals – Barclays”
Month: December 2016
Turkish Lira Jumps Against US Dollar
The Turkish lira climbed against the US dollar today, easing the pressure on the nation’s central bank to act in defense of the currency and its inflation goal. Analysts speculate that the weakening lira increases upward risks to inflation, which have already prompted the Central Bank of the Republic or Turkey to increase interest rates in November. Turkish President Recep Tayyip Erdogan called for protection of the currency, claiming that its drop was the result of efforts from … “Turkish Lira Jumps Against US Dollar”
Forex industry hit hard by European regulators – an
In a short period, regulators in both Cyprus (CySec) and the UK (FCA) have made significant announcements that serve as blows to the retail foreign exchange industry. Leverage will be limited to 50:1. In the UK, only experienced clients with more than a year of trading can get this leverage. Otherwise, it is only 25:1. In Cyprus, … “Forex industry hit hard by European regulators – an”
Forex industry hit hard by European regulators – an
In a short period, regulators in both Cyprus (CySec) and the UK (FCA) have made significant announcements that serve as blows to the retail foreign exchange industry. Leverage will be limited to 50:1. In the UK, only experienced clients with more than a year of trading can get this leverage. Otherwise, it is only 25:1. In Cyprus, … “Forex industry hit hard by European regulators – an”
Australian Dollar Struggles to Rebound
The Australian dollar has started the decline by the end of the previous trading session and extended its drop into the current session, even though news from Australia was somewhat positive for the currency. With that said, the Aussie is trying to rebound currently and managed to erase losses against some of its rivals and trim them against others. The Reserve Bank of Australia provided no surprises, leaving its main interest rate at 1.5% … “Australian Dollar Struggles to Rebound”
Trading ECB: Potential Scenarios And EUR/USD Response – Morgan
After EUR/USD enjoyed a spectacular rebound after the Italian referendum, the next big event is the ECB. Here is the view from Morgan Stanley: Here is their view, courtesy of eFXnews: We believe the reaction of the EUR over the ECB meeting will ultimately depend on the probability of tapering in the next 12m. In particular, … “Trading ECB: Potential Scenarios And EUR/USD Response – Morgan”
Australian Dollar Mixed After Australian & Chinese Data
The Australian dollar rose against such currencies as the US dollar and the Japanese yen during Monday’s trading but fell against the very strong euro and traded flat versus the Swiss franc. The Australian Industry Group Services Index rose from 50.5 to 51.1 in November. Australia’s company gross operating profits rose just 1.0% in the September quarter from the previous three months, much less than analysts had promised (3.1%). … “Australian Dollar Mixed After Australian & Chinese Data”
British Pound Falls as Euro Rebounds from Early Losses
The British pound retreated against the euro on Monday, after touching its highest level in 5 months versus the shared currency. The euro recovered from all of its earlier losses today, which it had recorded following a constitutional referendum in Italy. Italian voters chose to shoot down amends to the nationâs constitution, which were put forward by Italian Prime Minister Matteo Renzi and his Democratic Party. 59.1% of voters refused … “British Pound Falls as Euro Rebounds from Early Losses”
US Dollar Reverses Gains Achieved Against Euro After Italyâs Referendum
The dollar experienced strong volatility on Monday as a major political event in Europe raised the anxiety of currency traders and forced the euro to be subjected to rapid movements against the US currency. A constitutional referendum, which took place in Italy on Sunday, revealed that the nation refused constitutional reforms that were suggested by Italian Prime Minister Matteo Renzi. The crushing defeat in the referendum prompted Renzi to announce that he will be resigning from … “US Dollar Reverses Gains Achieved Against Euro After Italyâs Referendum”
EUR/USD: No Major Downside This Month; En-Route To Parity
EUR/USD managed to bounce very nicely from the Italian referendum result and looks further away from parity. What’s next? Here is their view, courtesy of eFXnews: The Italians voted ‘No’ in the constitutional reform referendum, and do so in resounding fashion, with a 59-41 outcome estimated. The polls had indicated a ‘No’ win but the scale … “EUR/USD: No Major Downside This Month; En-Route To Parity”