The Turkish lira fell more than 2%, dropping to the record low against the US dollar today as fundamentals, both domestic and overseas, made the currency largely unappealing to investors and Forex traders. Prospects for additional interest rate hikes from the Federal Reserve pushed the dollar higher against other currencies. The lira was especially weak against the greenback due to the terrorist threat, which was proven yet again by the nightclub attack on January … “Turkish Lira Hits Record Low vs. Dollar After Falling More Than 2%”
Month: January 2017
Prime Minister’s Comments Drive Sterling Down
The Great Britain pound fell against its most-traded peers, dropping to the lowest level since October against some rivals, during Monday’s trading as comments from Britain’s Prime Minister Theresa May fueled concerns about the “hard” Brexit. May said in the interview over the weekend: We are leaving, we are coming out, we are not going to be a member of the EU any longer. “We will … “Prime Minister’s Comments Drive Sterling Down”
AUD/USD: Trading the Australian Retail Sales
Australian Retail Sales is considered the primary gauge of consumer spending. The indicator provides analysts and traders with an early look at consumer spending. A reading that is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Tuesday at 00:30 GMT. Indicator Background Consumer spending is … “AUD/USD: Trading the Australian Retail Sales”
GBP/USD: Trump and Brexit are gifts that keep on giving
Cable had a devastating 2016 due to massive political shocks. These events, Brexit and Trump’s election, come to fruition in 2017. We analyze the forces moving both currencies: central banks, politics, and the economies. There is a definite conclusion about the next move of the pair, but remember that forex is never a one-way street. … “GBP/USD: Trump and Brexit are gifts that keep on giving”
EUR/USD: Turbulence In Chinese FX markets Behind Recent Move;
China is never too far away from EUR/USD, and this was very relevant at the wake of 2017. What’s next after the dawning days? Here is the view from Danske: Here is their view, courtesy of eFXnews: One of the most noteworthy trends in the early days of 2017 has been the volatility in the … “EUR/USD: Turbulence In Chinese FX markets Behind Recent Move;”
Is Euro Periphery Tension Back As A Driver For EUR/USD?
EUR/USD had a turbulent start to the year, but the moves were all due to mood changes regarding the dollar. What about the periphery? Here is their view, courtesy of eFXnews: We first revised our forecasts to show EUR/$ downside in April 2014, on the rationale that economic outperformance would see the Fed raise rates ahead of … “Is Euro Periphery Tension Back As A Driver For EUR/USD?”
US Dollar Climbs Against Euro and Pound on Strong US Wage Growth
The US dollar climbed against its major peers on Friday, as traders paid little attention to disappointing data that was released earlier today. The greenback is resuming its recent rally on stable economic growth and expectations of higher inflation rate in the United States. The Bureau of Labor Statistics released its employment report at 1:30 GMT. The report said that nonfarm payroll employment rose by 156,000 jobs in December, which compares … “US Dollar Climbs Against Euro and Pound on Strong US Wage Growth”
USD/CAD Drops Significantly After Release of Canada’s Employment Data
The USD/CAD dropped significantly after the release of positive employment data for the month of December. The employment data released by Statistics Canada today indicates that Canada created thousands of jobs in December as opposed to job cuts, which were widely anticipated. The currency pair dropped to lows below the 1.32 resistance level although the Canadian dollar had lost much of its gains against the US dollar at the time of writing. The Canadian dollar gained against … “USD/CAD Drops Significantly After Release of Canada’s Employment Data”
Dec NFP: Not A ‘Barnburner’, But It Will Do’; USD
Wages are up 2.9% y/y and this overshadows the small miss on job gains. Here is a quick take from CIBC: Here is their view, courtesy of eFXnews: It wasn’t a barnburner, but it will do. While non-farm payrolls increased by a below consensus 156k in December, net revisions and a solid rebound in wage growth … “Dec NFP: Not A ‘Barnburner’, But It Will Do’; USD”
EUR/USD: A Sell Into 1.0650; USD/JPY: A Buy Into 114.45
The US dollar crashed (here are three reasons). The team at Morgan Stanley sees buying opportunities on the main pairs: Here is their view, courtesy of eFXnews: US labor market focus: Yesterday’s release of US Fed minutes showed that about half of the participants incorporated an assumption of more expansionary fiscal policy in their forecasts. … “EUR/USD: A Sell Into 1.0650; USD/JPY: A Buy Into 114.45”