The US dollar climbed against its major rivals on Friday to erase some of its losses earlier in the day, as investors anticipated Donald Trumpâs presidential inauguration. The president-elect will give a speech during his inauguration, which could contain hints of his plans for the US economy. Even though traders avoided taking any major risks ahead of the inauguration ceremony, the greenback still managed to rise as it continued to be supported by comments … “US Dollar Heads Higher as Donald Trump Takes Office”
Month: January 2017
South Korean Won Avoids Losses
Mixed economic data from China hurt some of Asian currencies, but many of them managed to rise above the opening level by now, and the South Korean won was among them. While some currencies reacted negatively to the news from China, the won managed to avoid losses. Yet the currency remains in danger as traders are nervous ahead of the speech of US President reacted negatively. They are not sure what Trump’s … “South Korean Won Avoids Losses”
Australian Dollar Falls, China’s Data Fails to Support
The Australian dollar fell against its most traded peers today even though relatively decent economic data released from China should have been supportive for Australia’s currency. The National Bureau of Statistics of China released a report today, summarizing 2016. While some indicators for the fourth quarter were worse than expected (industrial production) and some were better (gross domestic product), basically all figures were close … “Australian Dollar Falls, China’s Data Fails to Support”
EUR/USD: Beware Of The Impact Of US Treasury Q1 Cash
It is not always about fundamentals and technicals, but rather flows. Treasuries could have a significant impact on EUR/USD: Here is their view, courtesy of eFXnews: The Treasury expects to draw down USD290bn from its deposits in Q1, which will add a corresponding amount of USD to the market. This amounts to a 9% increase … “EUR/USD: Beware Of The Impact Of US Treasury Q1 Cash”
US Dollar Rises on Strong Housing Starts and Jobless Claims Data
The US dollar climbed higher against its major peers on Thursday as data in the United States reflected a strong picture of the economic growth. The US currency had its biggest gains today against the euro after the European Central Bank maintained its monetary stimulus. The US dollar rose following a speech by Federal Reserve Chair Janet Yellen at the Commonwealth Club in San Francisco. During her speech, she said that she … “US Dollar Rises on Strong Housing Starts and Jobless Claims Data”
EUR/USD Eases as the ECB Warns of Subdued Inflation and Reports a Dovish Outlook
The European Central Bank announced that it would be maintaining its interest rates while continuing with its bond-buying program for the rest of 2017. The ECB reported that it would be keeping its base refinancing rate unchanged at 0.0%, its marginal lending facility at 0.25%, and its deposit facility rate at -0.40%. The EUR/USD currency pair lost almost 0.2% after remarks by Mario Draghi, the ECB President, indicated … “EUR/USD Eases as the ECB Warns of Subdued Inflation and Reports a Dovish Outlook”
Brexit & Sterling: ‘Hope For The Best, Position For
The pound has been volatile thanks to May’s Brexit speech. What’s next for sterling? Here is the view from Goldman Sachs: Here is their view, courtesy of eFXnews: Prime Minister May’s speech painted a rosy future for the UK outside the European Union and at the center of the global economy, but the near-term implications of … “Brexit & Sterling: ‘Hope For The Best, Position For”
Canadian Dollar Weakens as the BoC Maintains Interest Rates
The Canadian dollar weakened against major currencies after the Bank of Canada announced that it would be maintaining its benchmark interest rate at 0.5%. The announcement triggered a rally among the loonie’s major competitors as the currency lost most of the gains it had made against other currencies this year. The Canadian dollar suffered major losses against other currencies such as the US dollar, the Japanese yen and the British pound. The loonie’s … “Canadian Dollar Weakens as the BoC Maintains Interest Rates”
US Dollar Edges Higher as CPI Data Reveals Stronger Inflation
The US dollar had a small recovery on Wednesday from its losses yesterday. The greenback attempted, with limited success, to find upward momentum, a day after President-elect Donald Trump said the US currency is too strong. Tradersâ demand for the dollar was marginally higher following the release of a report by the release of a report on the consumer price inflation at 13:30 GMT today. The report said that the consumer price indexâs reading in December was … “US Dollar Edges Higher as CPI Data Reveals Stronger Inflation”
EUR: ECB To Strike A Dovish Balance On Thurs; Market
The European Central Bank is not set to make any changes to policy, but Draghi’s tone certainly matters. Here is their view, courtesy of eFXnews: Having already mapped its monetary policy course for full 2017 at its last meeting in 2016 (8 Dec), the ECB is most unlikely to deliver any further policy adjustments at the upcoming, first … “EUR: ECB To Strike A Dovish Balance On Thurs; Market”