The US dollar rallied against its major competitors today triggered by the hawkish tone taken by the Fed chairperson, Janet Yellen, during her testimony before the Senate Banking Committee. The Fed chair spoke clearly in favor of hiking rates multiple times this year saying that it would be unwise for the Federal Reserve to wait too long before raising rates to accommodate inflation. There was a major spike in the US dollar’s … “US Dollar Rallies as Yellen Hints at a More Hawkish Fed Outlook”
Month: February 2017
Zloty Rebounds as Polish GDP Beats Expectations
Poland’s gross domestic product grew above expectations, probably contributing to the rally of the Polish zloty against the US dollar, though currencies of other Eastern European nations gained as well despite weaker-than-expected economic growth. Polish GDP demonstrated solid 2.7% growth in the last quarter of 2016. The increase exceeded forecasts, allowing the zloty to rebound after the earlier decline. With that said, economies of the Czech Republic and Hungary grew less than … “Zloty Rebounds as Polish GDP Beats Expectations”
Aussie Goes Higher on Positive Data from Australia & Abroad
The Australian dollar rallied today as economic data, both domestic and from abroad, was supportive to the currency, allowing it to rally to multi-year highs against some of its rivals. The Australian business confidence index reported by the National Australia Bank rose from +6 in December to +10 in January. Meanwhile, China’s Consumer Price Index rose 2.5% and the Producer Price Index increased 6.9% last month from a year ago, according to the data … “Aussie Goes Higher on Positive Data from Australia & Abroad”
GBP/USD: Trading the UK Claimant Count Change
The UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. It provides a snapshot of the UK employment situation and could affect the direction of GDP/USD. Here are the details and 5 possible outcomes for GBP/USD Published on Wednesday at 9:30 GMT. Indicator Background UK Claimant Count Change is closely monitored, … “GBP/USD: Trading the UK Claimant Count Change”
US Dollar Rises Against Major Rivals Following Trump and Abe Meeting
The US Dollar climbed against its major peers on Monday, after a meeting between US President Donald Trump and Japanâs Prime Minister Shinzo Abe went smoothly over the weekend. The meeting did not yield any results that relate to the monetary policies of both nations. The meeting, which took place on Friday, came after a phone call between Trump and Chinese President Xi Jinping that raised expectations of smoother … “US Dollar Rises Against Major Rivals Following Trump and Abe Meeting”
British Pound Rebounds Ahead of Expected Positive CPI Data
The British pound traded higher against its main counterparts today as markets expected positive consumer price index data from the UK tomorrow. The British pound strengthened against its main peers despite the lack of any news events in the UK today, notwithstanding the passing of the Article 50 bill in the House of Commons on last week. At the height of its rebound the British pound gained over 50 pips against its main competitor the US dollar although … “British Pound Rebounds Ahead of Expected Positive CPI Data”
Japan’s GDP Misses Expectations, Yen Trades Lower
The Japanese yen fell today (though it has pared the losses against the US dollar by now) as Japan’s gross domestic product missed analysts’ expectations. GDP increased by 0.2% in the fourth quarter of 2016 according to the preliminary report. Experts were anticipating the same 0.3% rate of growth as in the previous three months. While the disparity between the expected and the actual readings was not big, it was enough to drive the yen down. The Japanese … “Japan’s GDP Misses Expectations, Yen Trades Lower”
Ringgit Falls vs. Dollar Despite Favorable Market Sentiment
The Malaysian ringgit fell against the US dollar together with most other Asian currencies (with the exception of the Taiwan dollar) even though the market sentiment was favorable to riskier assets. Asian stocks rallied to the highest level in more than a year as market participants felt that it is safe to buy higher-yielding assets. Among reasons for risk appetite were hopes for a tax reform in the United States and the last week’s meeting … “Ringgit Falls vs. Dollar Despite Favorable Market Sentiment”
USD: 4 Reasons To Stay Structurally Bullish USD Against
The US dollar managed to recover from the 2017 slide as Trump’s administration settles down. What’s next? Here is their view, courtesy of eFXnews: We remain bullish on the dollar expecting the euro and yen to trade in weaker ranges of 1.00-1.10 and 115-125 this year. First, US data flow remains consistent with the Federal Open … “USD: 4 Reasons To Stay Structurally Bullish USD Against”
US Dollar Returns Appeal After Several Weeks of Decline
The US dollar rose during the past trading week after several weeks of decline. Hopes for tax reforms in the United States and political uncertainty in Europe made the greenback appealing to Forex traders. US President Donald Trump said that he prepared a “phenomenal” tax plan, a statement that was welcomed by markets. Meanwhile, economic data released from the United States over the week was mixed, being positive one day … “US Dollar Returns Appeal After Several Weeks of Decline”