The US dollar today weakened against other major currencies given the lower bond yields witnessed in the markets and an empty economic docket. The greenback lost momentum in the early North American session due to the lack of major financial releases, or comments from US President Donald Trump. The US dollar seemed to lose momentum against its main peers given the gains it had made during previous sessions. The US dollar index, which tracks … “US Dollar Loses Momentum Triggered by Lower Bond Yields”
Month: February 2017
Polish Zloty Backs Off as Central Bank Stays Passive
The Polish zloty backed off from the recent highs today after the nation’s central bank decided to keep the record low interest rates unchanged. The National Bank of Poland left its interest rates the same at today’s policy meeting, including the reference rate that stayed at 1.5%. Such decision was widely anticipated by experts. Poland was demonstrating good economic performance lately, and that drove the zloty to multi-month highs recently, … “Polish Zloty Backs Off as Central Bank Stays Passive”
Pound Slides vs. Dollar & Yen, Driven by Brexit Fears
The Great Britain pound slid against the US dollar and the Japanese yen today as the Brexit uncertainty continued to drive moves of the currency. Meanwhile, one of the Bank of England policy makers said that an interest rate hike may be required soon. Kristin Forbes, an external member of the central bank’s Monetary Policy Committee, voiced an opinion that mounting inflation pressure may prompt the BoE to hike interest rates relatively soon: … “Pound Slides vs. Dollar & Yen, Driven by Brexit Fears”
USD/JPY: Buy Strategically Into 110 & Tactically Over-115 –
USD/JPY has been trading at lower ground, but shows hesitation. What’s next? Here is their view, courtesy of eFXnews: Prime Minister Shinzo Abe appears to be preparing pro-active proposals for President Trump to boost US growth and employment. If the Trump administration delivers on its promised aggressive fiscal policy, we can expect the current account … “USD/JPY: Buy Strategically Into 110 & Tactically Over-115 –”
Economic Data Doesn’t Make Yen Move
The Japanese yen did not move far following the release of macroeconomic data from Japan and the Summary of Opinions at the central bank’s January policy meeting. The Bank of Japan demonstrated a relatively positive view on the Japanese economy, saying: Since the second half of 2016, Japan’s economic recovery has strengthened. Positive synergy effects are being produced by improvement in overseas economies, economic stimulus measures by the government, and enhanced monetary easing. At the same … “Economic Data Doesn’t Make Yen Move”
European Assets Look Too Risky, Euro Suffers
The euro fell against the majority of its most-traded counterparts as looming elections in several European countries and concerns about Greece’s debt made investors think that it is too risky to invest into European assets. France’s presidential elections drew the most attention due to the anti-eurozone stance of one of the candidates, Marine Le Pen, who is getting bigger and bigger support from voters according to polls. Elections in such countries … “European Assets Look Too Risky, Euro Suffers”
Canadian Dollar Touches Lowest Level in Two Weeks as US Dollar Surges
The Canadian dollar dropped against the US counterpart on Tuesday to touch its lowest in two weeks, as oil prices moved lower and the greenback gained strength. Prices of crude oil, one of Canadaâs main exports, declined due to concerns towards rising production levels in the United States. The US dollar was stronger today following a comment made by Federal Reserve Bank of Philadelphia President Patrick Harker on Monday. Harker said that he … “Canadian Dollar Touches Lowest Level in Two Weeks as US Dollar Surges”
US Dollar Rises Backed by Lower Trade Deficit and Positive Jobs Data
The US dollar gained significantly against its main competitors including the euro, the Canadian dollar and the Japanese yen. The greenback rose after the release of lower than expected US trade balance figures for December reported by the Bureau of Economic Analysis. The US dollar recovered most of the losses it had incurred during previous sessions against major currencies and was trading higher against most currencies at the time of writing. The US dollar index … “US Dollar Rises Backed by Lower Trade Deficit and Positive Jobs Data”
Britain’s Pound Retreats, Finding No Support from Fundamentals
The Great Britain pound declined against most of its major rivals as economic data released over the trading session was not positive for the currency, while concerns about the Brexit erode investors’ interest in British assets. British Retail Consortium reported that like-for-like retails sales dropped 0.6% in January from a year ago after rising 1.0% in previous reporting period. The Halifax House Price Index fell 0.9% in January … “Britain’s Pound Retreats, Finding No Support from Fundamentals”
New Zealand Dollar Surges on Inflation Expectations, Loses Gains Later
The New Zealand dollar surged intraday after the nation’s central bank released its inflation expectations, but the currency retreated later, trimming its gains against the euro and the Japanese yen, while losing them completely versus the US dollar. The Reserve Bank of New Zealand released its inflation expectations for the next two years. The report showed an increase of 1.9% compared to 1.7% in the previous reporting period. Now, traders wait for policy … “New Zealand Dollar Surges on Inflation Expectations, Loses Gains Later”