The British pound moved lower on Thursday on increased concerns about a speech British Prime Minister Theresa May will give next week. Traders worried that Mayâs speech, which was announced today, will suggest a hard Brexit for the United Kingdom. The scheduled speech comes after May said earlier this week that the UK would not keep bits of its membership in the European Union once it leaves … “British Pound Falls as Traders Anticipate Theresa May’s Speech”
Month: January 2017
US Dollar Looks to Fed Speakers for Support After Trump Speech Sours Investor Confidence
The US dollar continued to perform poorly a day after Donald Trump‘s speech as Investors expect Fed speakers to give direction regarding future fiscal policies. There was widespread selling pressure on the greenback as investors demonstrated their loss of confidence in Trump given that he did not outline the specific policies that he will pursue. The greenback lost more ground today against major currencies such as the Japanese yen, the euro, … “US Dollar Looks to Fed Speakers for Support After Trump Speech Sours Investor Confidence”
EUR/USD: Trading the UoM Consumer Sentiment
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and is bullish for the US dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 15:00 GMT. … “EUR/USD: Trading the UoM Consumer Sentiment”
Turkish Lira Logs Strong Gains vs. Dollar, Analysts Remain Bearish
Currencies of emerging markets were rallying against the US dollar during the Thursday’s trading session, and the Turkish lira joined the parade. Yet analysts remained largely bearish on the Turkish currency. Yesterday’s press-conference of Donald Trump sent the dollar lower, allowing other currencies to log gains, and the lira was not an exception. Yet experts believe that economic problems, political tensions, rising inflation, and terrorist threat keep the outlook for the currency extremely … “Turkish Lira Logs Strong Gains vs. Dollar, Analysts Remain Bearish”
Brazilian Real Gains on US Dollar Despite Monetary Easing
The Brazilian real, like most other currencies, rallied against the US dollar today despite monetary easing from Brazil’s central bank. The Central Bank of Brazil cut its main interest rate to 13% at its January meeting. The 75 basis points cut was bigger than the average market expectation of a 50 points reduction. Yet that did not push the real lower versus the dollar as the impact of Donald Trump’s … “Brazilian Real Gains on US Dollar Despite Monetary Easing”
GBP: A ‘Tricky’ Start For 2017: 2 Major Risk Events
GBP/USD reached new lows at the 1.20 handle, but bounced quickly, thanks to Trump. What’s next? Here is their view, courtesy of eFXnews: 2017 has already struck a shrill chime for the pound. The market interpreted PM May’s interview on Sunday as a re-alignment with her tough tone at October’s Conservative Party conference, and a move away … “GBP: A ‘Tricky’ Start For 2017: 2 Major Risk Events”
British Pound Drops to Lowest Level in Almost 3 Months
The British pound declined on Wednesday, as traders felt more anxious about the future road of Brexit. Recent comments from UK Prime Minister Theresa May increased fears of a hard Brexit and overshadowed strong economic data. The UK Office for National Statistics released its production data for November 2016 today, which showed an increase by 2.1% in industrial output when compared to October 2016. The fresh data exceeded expectations of an increase by 0.8%. … “British Pound Drops to Lowest Level in Almost 3 Months”
US Dollar Declines Against Major Currencies During Trump’s First Press Briefing
The US dollar declined significantly against other major currencies as the markets reacted negatively to Donald Trump‘s first press briefing as president. The US dollar lost much of the ground it had gained earlier in the day after Trump announced his short-term plans for the USA given that he assumes office in nine days. The US dollar started the day trading very strongly against other currencies such as the British pound, the Japanese … “US Dollar Declines Against Major Currencies During Trump’s First Press Briefing”
‘Bad’ Versus ‘Good’ USD Rally; What Does It Mean For
The US dollar started 2017 with a bang, but that faded away quite quickly. What kind of rally is good for the dollar? Here is the view from Morgan Stanley: Here is their view, courtesy of eFXnews: The USD advance witnessed early last year was EM focused and in this sense, it was a ‘bad’ … “‘Bad’ Versus ‘Good’ USD Rally; What Does It Mean For”
Canadian Dollar Rises Against Rivals on Stable Oil Prices
The Canadian dollar rose against its US counterpart on Tuesday, as prices of oil, one of Canadaâs main exports, remained steady. The Canadian currency got more strength following a report that showed an increase in average Canadian oil rig count. The loonie, as the Canadian currency is commonly known, found support today as oil prices stabilized after a sharp drop that saw more than 4% of the values of Brent crude and US … “Canadian Dollar Rises Against Rivals on Stable Oil Prices”