The British pound today performed better against most of its main competitors as markets await the vote by the House of Lords on triggering article 50. The British pound was one of the better performing currencies during the European session as the American market remained closed due to the celebration of Presidents’ Day in the USA. The British pound had gained over 40 points against the US dollar in the GBP/USD currency pair, while the euro had lost about … “British Pound Performs Better Ahead of Brexit Vote by House of Lords”
Month: February 2017
Euro Attempts to Rally, Remains in Danger from Negative Factors
The euro edged higher against some if its major rivals amid the risk-positive market sentiment and news that France’s left-wing forces failed to unite and present a joint candidate in the presidential race. Still, the currency was not particularly strong as negative factors, which were dragging it down previously, did not go away. Market participants were concerned that a leftist unity candidate would result in either a socialists … “Euro Attempts to Rally, Remains in Danger from Negative Factors”
Japanese Yen Starts Week with Losses
The Japanese yen opened lower and proceeded to fall during the current trading session as the optimistic market sentiment and Japan’s shrinking trade surplus weighed on the currency. Japan’s trade balance logged a surplus of ¥0.16 trillion in January. It was smaller than the predicted ¥0.26 trillion and the December’s ¥0.33 trillion. The unfavorable data hurt the currency, which already had been under pressure from the traders’ positive that was aiding riskier currencies … “Japanese Yen Starts Week with Losses”
New Zealand Dollar Starts Week Sharply Higher
This week’s trading has started with a risk-positive sentiment on the Forex market. That, coupled with favorable domestic data, made the New Zealand dollar open sharply higher, though the currency has retreated by now. Statistics New Zealand reported that the input Producer Price Index rose 1.0% while the output PPI gained 1.5% in the December quarter. Both indicators were above the median forecast. Meanwhile, some commodities … “New Zealand Dollar Starts Week Sharply Higher”
US Dollar Fails to Capitalize on Positive Fundamentals
The US dollar was trading in a narrow range during the past trading week, closing almost flat against the vast majority of its most-traded peers. The only exception was the Japanese yen, against which the dollar rallied during the week but slid below the opening level by the weekend. The bunch of good macroeconomic reports and hawkish Federal Reserve officials made a bullish case for the US currency. Coupled with the relatively cautious market sentiment, … “US Dollar Fails to Capitalize on Positive Fundamentals”
Euro Fails to Profit from Better-Than-Expected Current Account
The was almost flat against some other most-traded currencies (like the Great Britain pound and the Swiss franc) and logged a sharp decline against others (including the US dollar and the Japanese yen). The eurozone current account recorded a surplus of â¬31.0 billion in December 2016. While it was lower than the November reading of â¬36.4 billion, the actual figure was better than the median forecast of â¬28.7 billion. Yet that did not … “Euro Fails to Profit from Better-Than-Expected Current Account”
AUD/USD Bullish Trend Reverses, Despite Positive Australian Employment Data
The AUD/USD currency declined significantly today to reverse the bullish trend that the currency pair has enjoyed since the beginning of the year. This was a major reversal from the currency pair’s rally witnessed yesterday after the release of positive Australian employment data for the month of January. The currency pair had lost close to 50 points from its daily high and was on a downward trend as at the time of writing. The Australian dollar weakened against the US dollar … “AUD/USD Bullish Trend Reverses, Despite Positive Australian Employment Data”
Japanese Yen Rises Against Dollar Despite Strong US Economic Data
The Japanese yen rose against its US rival on Friday to extend its gains for the third day in a row, as strong economic data in the United States failed to support the nationâs currency. The yen is set to end the week at its strongest level since February 9. Following a day that mostly lacked new economic releases, the greenback fell against the yen despite solid US economic data on Thursday. A report on jobless claims … “Japanese Yen Rises Against Dollar Despite Strong US Economic Data”
UK Retails Sales Decline, Sterling Loses Ground
The Great Britain pound fell today as Britain’s retail sales logged an unexpected decline last month, continuing the trend of worse-than-expected economic releases. Retail sales were down 0.3% in January from the prior month. Forecasters were completely wrong with their promises of a 1.0% increase. The sterling was data-dependent lately, and so happens the recent macroeconomic data was not stellar, sending the UK currency down. GBP/USD dropped from … “UK Retails Sales Decline, Sterling Loses Ground”
New Zealand Dollar Falls as Domestic Data Trails Expectations
The New Zealand dollar declined for the second consecutive session today as economic data released from New Zealand overnight failed to meet economists’ expectations. Retail sales rose 0.8% in the December quarter of 2016 from the previous three months, less than specialists had expected — 1.1%. The seasonally adjusted BusinessNZ manufacturing PMI dropped from 54.2 in December to 51.6 in January. While the index remained in the expansionary territory above the neutral level … “New Zealand Dollar Falls as Domestic Data Trails Expectations”