The US dollar opened trading on Tuesday with a choppy start and has demonstrated mixed results in daily trading against other major currencies. Some currency pairs that include`the US dollar have started retracing their bullish trends towards the greenback. The US dollar has been trading sideways against the euro, the Japanese yen and other currencies this week given the pause in the rising bond yields, which was witnessed in the last months of 2016. The overall market sentiment … “US Dollar Remains Shaky as Investors Monitor Bond Yields”
Month: January 2017
US Border Adjustments: Which Major Currencies Are Most Vulnerable
One of the proposals under consideration by the incoming Trump administration is a border tax. How will this impact the US dollar? And against which currencies? Here is their view, courtesy of eFXnews: A new HIA and other corporate tax reform has received quite a bit of attention but we think “border adjustments” could have vast … “US Border Adjustments: Which Major Currencies Are Most Vulnerable”
Australian Dollar Fails to Rally vs. US Dollar
The Australian dollar attempted to rally versus its US counterpart during the Tuesday’s session but has failed and is trading below the opening level as of now. The Aussie also dropped against other most-traded currencies. Today’s economic data from Australia was not impressive, with retail sales rising just 0.2% in November from October versus the median forecast of 0.4% growth. Reports from China, Australia’s biggest trading … “Australian Dollar Fails to Rally vs. US Dollar”
Theresa May Claims Markets Misinterpreted Her Words, Pound Stays Weak
The Great Britain pound remained weak during the current trading session following yesterday’s comments from Britain’s Prime Minister Theresa May even though she claimed that media misinterpreted her words. Markets interpreted yesterday’s comments from May as a sign that she is willing to accept a “hard” Brexit as the price the United Kingdom has to pay for having control over its own borders. Yet later the Prime … “Theresa May Claims Markets Misinterpreted Her Words, Pound Stays Weak”
GBPUSD: Brexit Fears resume the downtrend
Fundamental factors: The pound fell to a two-month low after Theresa May added to fears that Britain is heading towards “Brexit”. In the previous week, UK PMIs Pointed to expansion and beat their estimates, but the pound was unable to gain strength against Dollar. Dollar strengthening against Pound could drift the pair lower towards 1.1900/1.1185 … “GBPUSD: Brexit Fears resume the downtrend”
USD: Anti-Consensus: Going Short This Week – Barclays
Trump’s upcoming inauguration convinces many, including in this neck of the woods, to see upside for the US dollar. Nevertheless, Barclays takes the opposite trade: Here is their view, courtesy of eFXnews: Most sentiment-sensitive currencies have appreciated versus the USD over the past three weeks as long-end US interest rates declined and most equity and commodity … “USD: Anti-Consensus: Going Short This Week – Barclays”
Canadian Dollar Falls vs. Euro & Yen Following Drop of Crude Oil
The Canadian dollar fell against such currencies as the euro and the Japanese yen today due to the sharp drop of crude oil prices. The loonie managed to gain on the US dollar, which was rather soft on Monday. Crude oil dropped amid concerns that the increase of US oil production will add to oversupply on the market, damping the impact of the oil production cut deal announced by the Organization of Petroleum Exporting Countries. Oil prices dropped almost … “Canadian Dollar Falls vs. Euro & Yen Following Drop of Crude Oil”
US Dollar Falls vs. Major Peers During Monday’s Trading
The US dollar fell against most of its major counterparts (though not against the very weak Great Britain pound) on Monday, though analysts kept the bullish outlook for the greenback over the longer term due to prospects for faster pace of interest rate hikes this year. The dollar has entered a period of consolidation by the end of 2016 following the impressive rally triggered by the victory of Donald Trump in the US presidential elections. Yet most experts … “US Dollar Falls vs. Major Peers During Monday’s Trading”
Euro Rallies Against Major Currencies Boosted by Positive Market Sentiment
The euro recovered some of the ground it had lost against major currencies such as the US dollar and the British pound. The euro gained significant ground against the British pound as investors took a bearish approach towards the pound sterling due to fears of a hard Brexit. The euro gained over 100 points against the sterling pound during today’s trading session as investors were bearish towards the pound. The euro also gained about 40 … “Euro Rallies Against Major Currencies Boosted by Positive Market Sentiment”
EUR/USD: An ‘Unfavorable Mix’ Set To Fuel Further Selling
EUR/USD is still looking for a direction for 2017, but the team at BTMU sees it quite clearly: Here is their view, courtesy of eFXnews: The euro spent much of 2016 at levels higher than the 2015 closing level (and our forecasts) but then fell sharply in the aftermath of the surprise election victory for … “EUR/USD: An ‘Unfavorable Mix’ Set To Fuel Further Selling”