The US dollar edged lower against its major peers on Wednesday to give up some of the gains it made since Donald Trumpâs win in the US presidential election. Trading volumes thinned as currency traders reduced their positions prior the Christmas holiday. Trumpâs victory, which was expected to hurt the US currency, was the triggering event for a strong surge in the dollarâs exchange rate against all of its major peers since … “US Dollar’s Advance Eases Ahead of Christmas Holiday”
Month: December 2016
Brexit could bite early in 2017
So far, the UK economy has skipped the worst forecasts of experts and the Remain campaigners. The underlying strength of the economy before the referendum carried it forward during six months. The fall in the total employment and the rise in jobless claims which began earlier, are warning signs of what lies ahead. Uncertainty is likely … “Brexit could bite early in 2017”
NZD/USD: Trading the New Zealand GDP
New Zealand Gross Domestic Product (GDP) is a key release, released each quarter, which measures 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 New Zealand dollar. Here are all the details, and 5 … “NZD/USD: Trading the New Zealand GDP”
British Pound Drops as UK Politicians Disagree on Brexit Plans
The British pound moved lower against the US dollar and the euro on Tuesday, as Scotlandâs First Minister Nicola Sturgeon and UK Prime Minister Theresa May disputed over the future of the UK in the European Union. Theresa May is a strong supporter of Brexit. Sheâs leading her government through the departure negotiations with the European Union as she hopes the UKâs High Court will allow the government to trigger Article 50 without parliamentary approval. … “British Pound Drops as UK Politicians Disagree on Brexit Plans”
US Dollar Climbs Against Euro Following Terrorist Attacks in Turkey and Germany
The US dollar rose against most of its major peers on Tuesday, having its biggest gains today against the Japanese yen following a new monetary policy decision from the Bank of Japan. The US currency also increased against the euro after two deadly terrorist attacks took place in Germany and Turkey. The Bank of Japan released a monetary policy statement overnight, which said that the central bank will keep its … “US Dollar Climbs Against Euro Following Terrorist Attacks in Turkey and Germany”
NZD/USD Makes a Minor Recovery as the US Dollar Maintains Its Upward Momentum
The NZD/USD pair made a minor recovery during today’s trading session even as the US dollar continues to gain ground against other major currencies. The US dollar is demonstrating significant upward momentum as the market’s appetite for the dollar shows no signs of abating. The New Zealand dollar gained slightly against the US dollar boosted by the release of data relating to the dairy industry. Data released earlier today indicated that the New Zealand GDT … “NZD/USD Makes a Minor Recovery as the US Dollar Maintains Its Upward Momentum”
Australian Dollar Trades Higher After RBA Minutes
The Australian dollar traded higher against its most-traded rivals during the Tuesday’s session after the release of the policy meeting minutes by the Reserve Bank of Australia. The RBA released minutes of its December 6 meeting today. The central bank was rather upbeat about the global economy but far less optimistic about domestic economic growth. While the RBA lefts its policy unchanged this month, analysts thought that the relatively … “Australian Dollar Trades Higher After RBA Minutes”
Yen Weakens After BoJ Policy Meeting
The Japanese yen slid against its major peers today even though the Bank of Japan left its monetary policy unchanged and was relatively optimistic in the policy statement. The BoJ kept its monetary policy without changes at today’s meeting, including the interest rates which remained in the negative territory. The voting was not unanimous with two dissenters, one of whom voted for lifting rates into the positive territory. The central bank … “Yen Weakens After BoJ Policy Meeting”
EUR/USD: Set To Bottom Around 1.02 In 1-Month – Danske
EUR/USD has extended its losses and got close to support at 1.0340. Can it continue to parity? Many think so. But there is no clear consensus. Here is the outlook from Danske, which sees a trough within a month. Here is their view, courtesy of eFXnews: Short term (1-3M horizon): In the short term, on the one hand … “EUR/USD: Set To Bottom Around 1.02 In 1-Month – Danske”
USD/JPY: Dips A Buy Targeting 121 In 1-Month – Danske
USD/JPY has had a nice run following the hawkish hike by the FED but took its time to consolidate. What’s next? Here is their view, courtesy of eFXnews: The JPY has weakened sharply since November when Trump was elected as the next US president. The move higher in USD/JPY has among others been driven by risk … “USD/JPY: Dips A Buy Targeting 121 In 1-Month – Danske”