The euro started today’s trading session by gaining significant ground against the US dollar, but went on to retrace some of its gains later in the day. The euro hit a weekly high against the US dollar based on weak data released from the USA regarding consumer spending and income. The euro’s brief rise was also backed by the economic bulletin released by the European Central Bank today. The data released by the Bureau of Economic Analysis today indicated … “Euro Rallies Against US Dollar, Unable To Sustain Upward Momentum”
Month: December 2016
JPY: The Underperformer In 2017; GBP: The Outperformer In
What lies on the road ahead for 2017? The team at BNP Paribas focuses on two currencies: Here is their view, courtesy of eFXnews: JPY, the underperformer. We view the yen as likely to be the weakest major currency in the G10 in 2017, with USDJPY reaching 128. Moreover, in contrast to our forecasts for … “JPY: The Underperformer In 2017; GBP: The Outperformer In”
USD/CAD: Trading the Canadian GDP
Canadian GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Friday at 13:30 … “USD/CAD: Trading the Canadian GDP”
What can we expect in 2017? Interview with FXStreet
I had the pleasure of giving an interview to FXStreet regarding what awaits us in 2017. We discussed currencies to look out for, political events, central banks, and also touched on some more personal ground. The New Year’s Resolutions we always struggle to live up to. You can read the interview here or see it below. Enjoy: … “What can we expect in 2017? Interview with FXStreet”
Great Britain Pound Pauses Decline on Thursday
The Great Britain pound fell a bit on Wednesday, though paused its decline during Thursday’s early trading. The currency started a rally in October but has halted it in the middle of December and now is in a bearish mode. The theme of the Brexit remains a hot topic for the United Kingdom. It is unclear whether Prime Minister Theresa May will be able to avoid the “hard” Brexit through negotiations with the European Union and what … “Great Britain Pound Pauses Decline on Thursday”
Swedish Krona Climbs as Analysts Don’t Expect Additional Stimulus
The Swedish krona climbed against the US dollar and the euro after the Sweden’s central bank policy meeting even though the bank kept interest rates negative and extended the asset purchase program by six months. The Riksbank announced today: The Executive Board of the Riksbank has decided to continue purchasing government bonds during the first six months of 2017, both nominal and real bonds, each corresponding to SEK 15 billion. The repo rate … “Swedish Krona Climbs as Analysts Don’t Expect Additional Stimulus”
Japanese Yen Records Mixed Results Against Major Currencies
The Japanese yen started today’s session by gaining some ground against major currencies before losing most of its gains during the American trading session. The strengthening of the Japanese yen followed today’s announcement by the Bank of Japan regarding interest rates on deposits made using the yen. However, the yen was unable to sustain its gains for the entire day as other major currencies rose higher against it to erase most of its gains. The BoJ is … “Japanese Yen Records Mixed Results Against Major Currencies”
New Zealand Dollar Drops as Trade Balance Misses Analysts’ Estimates
The New Zealand dollar fell today, dropping for the six consecutive day against the US dollar, following the release of a worse-than-expected trade balance report. New Zealand’s trade deficit shrank from NZ$815 in October to NZ$705 million in November. While not a bad reading by itself, it was notably worse than the analysts’ median estimate of a NZ$500 million shortage. Credit card spending rose 4.1% last month from a year ago, … “New Zealand Dollar Drops as Trade Balance Misses Analysts’ Estimates”
Australian Dollar Falls with Leading Index
The Australian dollar fell against its major peers today after the drop of the nation’s leading index and amid the risk-negative sentiment on the Forex market. The report released by Melbourne Institute today said: The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from 0.51% in October to 0.11% in November. The domestic data … “Australian Dollar Falls with Leading Index”
GBP: Least Vulnerable Among Its Peers Vs USD; Moderate
The British pound did lose some ground against the US dollar, but did not suffer the fate of the euro or the yen. The team at Barclays sees moderate appreciation for sterling: Here is their view, courtesy of eFXnews: A period of relatively little economic data and elevated European political risks will likely offer a chance for … “GBP: Least Vulnerable Among Its Peers Vs USD; Moderate”