The GBP/USD currency pair is headed to close the markets much lower than its opening price after the British pound lost significant ground against the US dollar throughout the day. The GBP/USD currency pair has retraced much of the gains it had made earlier in the week, ahead of the first meeting between British PM, Theresa May, and US President, Donald Trump. The GBP/USD currency pair closes the week on a high having gained close to 150 … “GBP/USD Pair Loses Momentum for the Second Consecutive Day”
Month: January 2017
Polish Zloty Gains on Friday
The Polish zloty gained during the Friday’s trading session thanks to relatively good performance of the nation’s stock market. Prices for Polish assets fell last year due to the government’s policies that were not particularly business-friendly. But while Polish stocks fell a bit today, they have demonstrated strong gains last week and outperformed other Eastern European equities during the current trading session despite the losses. That supported … “Polish Zloty Gains on Friday”
Turkish Lira Drops amid Credit Rating Worries
The Turkish lira dropped today ahead of the credit rating decision by Fitch Ratings that may lead to Turkey losing its investment grade. Fitch was the only big rating agency that preserved an investment grade for Turkey up until now as Standard & Poor’s and Moody’s Investors Service have already lowered the nation’s credit rating to “junk”. Now, investors are concerned that Fitch may follow suit. That … “Turkish Lira Drops amid Credit Rating Worries”
Euro Drops as Dollar Rallies
The euro dropped against other major currencies (with the exception of the Japanese yen) today as the US dollar staged a recovery. Professor Ted Malloch (a potential candidate for the post of the US Ambassador to the European Union) told in the interview to BBC that the euro may collapse: The one thing I would do in 2017 is short the euro. I think it is a currency that is not only in demise but has a real problem and could in fact … “Euro Drops as Dollar Rallies”
Canadian Dollar Declines on Concerns Towards Trump’s Protectionist Approach
The Canadian dollar dipped against its US peer on Thursday, as traders worried that the protectionist approach that US President Donald Trump has towards his nationâs economy might harm Canadaâs. Trump already took measures that signaled major upcoming changes to US economic policy. Last Monday, Donald Trump started his first week of presidency by signing an executive order that formally withdraws the United States … “Canadian Dollar Declines on Concerns Towards Trump’s Protectionist Approach”
EUR/USD Weakens as the US Dollar Rallies Despite Negative Home Sales Data
The EUR/USD currency pair traded lower today as the US dollar rose despite the release of lower than expected home sales figures by the US Census Bureau that witnessed a 10.4% monthly drop. The euro’s downslide was also accelerated by the release of the flash Markit US services PMI figures, which indicated that expansion in the US service sector was at its fastest rate since November 2015. The US Dollar Index rose to 100.70 … “EUR/USD Weakens as the US Dollar Rallies Despite Negative Home Sales Data”
EUR/USD: Targeting 50% Fibo; GBP/USD: Targeting 38.2% Fibo –
Trump is moving markets but he’s not alone. What do the technical lines say about EUR/USD and GBP/USD? Here is the view from Credit Suisse: Here is their view, courtesy of eFXnews: EURUSD’s recovery remains in place to test 1.0821/28. EURUSD has edged to a marginal new high this week to keep the immediate risks … “EUR/USD: Targeting 50% Fibo; GBP/USD: Targeting 38.2% Fibo –”
New Zealand Dollar Falls, Ignoring Good CPI
The New Zealand dollar fell today despite faster-than-expected growth of consumer prices. The probable explanation for the lackluster performance was slow growth of Chinese industrial profits. New Zealand’s Consumer Price Index rose 0.4% in the December 2016 quarter. Market participants were expecting the same 0.3% rate of growth as in the previous quarter. Meanwhile, China’s industrial profits increased 2.3% in December from a year ago, down from 14.5% in November, demonstrating … “New Zealand Dollar Falls, Ignoring Good CPI”
GBP Moves Lower vs. USD & CHF Despite Solid GDP
The Great Britain pound fell against the US dollar and the Swiss franc during the current trading session even though Britain’s economic growth was better than it had been anticipated by analysts. The preliminary report from the Office for National Statistics showed 0.6% growth for the last quarter of 2016, the same rate of growth as in the two previous quarters. The median forecast had promised a smaller increase by 0.5%. While the actual value was … “GBP Moves Lower vs. USD & CHF Despite Solid GDP”
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