The Japanese yen rose against its major rivals on the Forex market during Monday’s trading, driven by the risk averse sentiment of traders. Japan released a range of economic reports today, but market analysts thought that they had little impact on moves of the yen, which was driven by the general market sentiment instead. So happens, fears of the Brexit made it beneficial to safe haven currencies. The yen rallied because of that, … “Market Sentiment Allows Yen Rally for Sixth Day”
Month: January 2017
Pound Starts Week Sharply Lower
Fears of the “hard” Brexit continue to drive the Great Britain pound, which opened sharply lower on Monday after the weekend article from The Sunday Times. The Sunday Times wrote yesterday: Theresa May will announce that Britain is seeking a clean and hard Brexit in a speech this week that will promise to create a âstrong new partnershipâ with the European Union. The prime minister will finally lay her … “Pound Starts Week Sharply Lower”
The 5 Stages Of The Trump Trade – Deutsche Bank
Donald downed the dollar in his first post-elections press conference. But what will markets do when Trump is inaugurated? Here are five steps from Deutsche Bank: Here is their view, courtesy of eFXnews: There are probably five defining stages for the “Trump trade”: Trading i) ‘the promise’; ii) the deal-making; iii) the enactment; iv) the economic impact, and, … “The 5 Stages Of The Trump Trade – Deutsche Bank”
EUR: ECB To Stay Dovish Next Week Despite Better Data
In its last meeting of 2016, the ECB continued expressing worries, extending the QE program while reducing the quantities from April 2017 and allowing for a wider range of bond buys. The euro reacted negatively. What will Draghi and co. announce in the first meeting of 2017? Here is their view, courtesy of eFXnews: We … “EUR: ECB To Stay Dovish Next Week Despite Better Data”
Dollar Ends Broadly Lower
The US dollar ended the week broadly weaker against other major currencies as markets were disappointed by the first press conference of Donald Trump as a president. Markets were disappointed by the fact that Trump did not offer details of his fiscal policies, and that drove the dollar lower against its rivals. Yet analysts did not necessarily turn bearish on the currency, saying that the pullback could be just a correction in the bullish … “Dollar Ends Broadly Lower”
Great Britain Pound Halts Decline After Optimistic Speech from Michael Saunders
The Great Britain pound rose today (though the gains were very limited) following the rather optimistic speech from Michael Saunders, Bank of England policy maker. Saunders was rather optimistic, predicting low unemployment in 2017: Rather than the rise in unemployment forecast in the November Inflation Report, it seems quite possible to me that the jobless rate will stay below 5% this year. In considering the appropriate … “Great Britain Pound Halts Decline After Optimistic Speech from Michael Saunders”
US Dollar Recovers Briefly Boosted by Retail Sales Data for December
The release of positive retail sales data for the month of December boosted the performance of the US dollar against major currencies before the gains were erased. The US dollar rose briefly after the US Commerce Department released data regarding consumption during the month of December. The positive consumption data led to the greenback rising sharply against currencies such as the British pound, the euro, and the Japanese yen. This was a major relief to dollar bulls given … “US Dollar Recovers Briefly Boosted by Retail Sales Data for December”
South Korean Won Gains on US Dollar, Ignoring Negative Fundamentals
The South Korean won gained against the vulnerable US dollar today even though fundamentals were not supportive to the Asian currency. The KOSPI Index fell 0.5% today. The drop of the Korean stocks was led by Samsung shared, which lost 3% of their value after Samsung Group leader Jay Y. Lee was detained for questioning on bribery suspicion. The Bank of Korea left its main interest rate at the record low … “South Korean Won Gains on US Dollar, Ignoring Negative Fundamentals”
Turkish Lira Reverses Rally, Falling vs. US Dollar
The Turkish lira fell against the US dollar today, prompting the government to threaten actions against speculators that drive the currency down. The Turkish lira reversed yesterday’s rally against the US dollar today even though the greenback remained rather soft. It proved that analysts were right to be bearish on the Turkish currency due to concerns about political reforms, economic troubles, and militant attacks. Yet the government argued that … “Turkish Lira Reverses Rally, Falling vs. US Dollar”
AUD/USD: Bullish 3-Weeks Candle Pattern; Make Or Break At
The Australian dollar enjoyed a bounce from the lows, partially thanks to Trump’s downing of the dollar. What’s next? Here is their view, courtesy of eFXnews: Trend: Price broke down from its broad 2016 triangle in Q4 2016 and challenged the bottom of the nine-month range and our downside target at 0.7150/00 in December. Weekly … “AUD/USD: Bullish 3-Weeks Candle Pattern; Make Or Break At”