The Canadian dollar was little changed against the US dollar on Thursday, even as oil prices moved higher. Following strong gains during yesterdayâs session that placed the Canadian dollar at its highest level against the US dollar in three weeks, the Canadian currency struggled to move higher. The US dollar was weaker after the Federal Reserve released its minutes from the Federal Open Market Committeeâs meeting on December 13â14. … “Canadian Dollar Remains Unchanged Even as Oil Prices Move Higher”
Month: January 2017
US Dollar Remains Bearish as Weak Unofficial Employment Data Reported for December
The US dollar remained low against major currencies following the release of lower than expected employment figures for December by the Automatic Data Processing, Inc. The US dollar weakened against major currencies such as the British pound and the Japanese yen. The US Dollar Index, which tracks the greenback’s performance against major currencies, was trading at daily lows of 101.90 slightly below the 102 resistance level. The ADP, which tracks employment in the US private sector, … “US Dollar Remains Bearish as Weak Unofficial Employment Data Reported for December”
EUR/USD: Trading the US Nonfarm Employment Change
US Nonfarm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 13:30 GMT. Indicator Background Job … “EUR/USD: Trading the US Nonfarm Employment Change”
AUD: Profit-Taking In Short AUD/USD Position; What’s Next? –
The Australian dollar ended 2016 on the back foot, but managed to recover thanks to good Chinese data. What’s next? Here is their view, courtesy of eFXnews: The consensus trade for 2017, long USD, remains on the ropes and is being driven mainly by positioning. Indeed, we think the FOMC Minutes contained few negatives for the … “AUD: Profit-Taking In Short AUD/USD Position; What’s Next? –”
Echofin – a robust and powerful financial community tool
George Lipordezis has launched a new venture in the field of financial technology, fintech, called Echofin. Here is information about the new tool, as provided by the company. Will this be the new standard? Echofin LLC has developed a communication platform for financial traders. The platform is meant to be used by brokers, a group of … “Echofin – a robust and powerful financial community tool”
Echofin – a robust and powerful financial community tool
George Lipordezis has launched a new venture in the field of financial technology, fintech, called Echofin. Here is information about the new tool, as provided by the company. Will this be the new standard? Echofin LLC has developed a communication platform for financial traders. The platform is meant to be used by brokers, a group of … “Echofin – a robust and powerful financial community tool”
Dec FOMC Minutes: ‘Uncertain’ Mentioned 15 Times In Dec
Some FED members took Trump’s potential fiscal stimulus into account, according to the latest minutes. But they are certainly uncertain. Here is their view, courtesy of eFXnews: The FOMC members think the economic outlook is very ‘uncertain’ until we get more information about ‘Trumponomics’. The word ‘uncertain’ is mentioned 15 times versus five times in … “Dec FOMC Minutes: ‘Uncertain’ Mentioned 15 Times In Dec”
Dec FOMC Minutes: A Fed In Waiting: 4 Observations –
The Fed meeting minutes showed optimism about the economy. In addition, some seemed to have assumed fiscal stimulus from Trump. Here are 4 take aways from Trump: Here is their view, courtesy of eFXnews: The minutes to the December FOMC meeting, in our view, provide little new information relative to what we learned from the FOMC statement, the … “Dec FOMC Minutes: A Fed In Waiting: 4 Observations –”
British Pound Rises Against US Dollar on Positive Economic Data in the UK
The British pound had some minor gains against the dollar on Wednesday, while remaining largely unchanged against the euro. The British currency benefited from fresh data that showed improving construction sector and higher consumer credit in the United Kingdom. The Bank of England published its money and credit report for November 2016, which showed that consumer credit rose by a 10.8% annualized rate, or 1.9 billion pounds, during the month. Total … “British Pound Rises Against US Dollar on Positive Economic Data in the UK”
US Dollar Weakens as Markets Await Release of FOMC Minutes
The US dollar has weakened against other major currencies ahead of the release of the minutes of the December Federal Open Market Committee meeting scheduled for later today. The US Dollar Index, which tracks the performance of the greenback, was trading in a low range around 102.80 for the better part of the day as investors wait for direction regarding the US dollar from the Fed. The markets are also expecting the Fed to give direction on the implementation of the three rate-hikes planned … “US Dollar Weakens as Markets Await Release of FOMC Minutes”