The US dollar maintained its losses for the second day on Thursday, after a surprising drop against most of its major peers yesterday following an interest rate hike from the Federal Reserve. A number of economic releases revealed mixed data today, which forced the greenback to trade within a tight range. The Federal Open Market Committee ended a meeting that lasted two days on Wednesday, and followed it with a statement that said … “US Dollar Maintains Losses Despite Higher Interest Rates from Federal Reserve”
Month: March 2017
British Pound Spikes After BoE Monetary Policy Statement
The British Pound today spiked against its main competitors after the Bank of England monetary policy statement even as the bank hinted at a less dovish outlook. The British pound rallied after the BoE’s Monetary Policy Committee maintained the rate decision and its asset purchase target at the same level, but issued a slightly hawkish economic outlook. The British pound gained over 100 points against the US dollar and gained over 1 yen … “British Pound Spikes After BoE Monetary Policy Statement”
USD: 3 Reasons Why Pullback Will Likley Be Short-Lived –
The US dollar has been on the back foot since the Fed’s dovish hike (see 5 reasons why) but the team at CA sees a pullback and lists three reasons: Here is their view, courtesy of eFXnews: Credit Agricole CIB Research argues that the Fed’s message from its March meeting actually comprised a pretty optimistic view on … “USD: 3 Reasons Why Pullback Will Likley Be Short-Lived –”
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 14:00 GMT. … “EUR/USD: Trading the UoM Consumer Sentiment”
Why the dollar fell on the rate hike – 5 reasons
The Fed raised interest rates but the US dollar fell. What is going on? Sure, the hike was fully expected via clears messages from the Fed. Calling them “thick hints” would be an understatement. However, the magnitude of the falls is quite significant and this may be far from teh end of these falls. Here are 5 dollar … “Why the dollar fell on the rate hike – 5 reasons”
Did the Fed “sneak in” a hike because of strong stocks?
In the past, the Federal Reserve was accused of “working for Wall Street”. This claim is questionable, but there is no doubt that the Fed watches markets. It’s no secret. When the Fed basically told us that it is raising rates in March, many thought that the Fed has upgraded its forecasts and is set to accelerate … “Did the Fed “sneak in” a hike because of strong stocks?”
March hike was just a calendar shift – two opinions
We gave 5 reasons for the fall of the dollar following the rate hike. Here are two additional opinions: Here is their view, courtesy of eFXnews: March FOMC: Today’s Hike Is An Early June Hike; 2 More Hikes In 2017 – SEB Following today’s Fed hike, SEB Research maintains its forecast of two more hikes in … “March hike was just a calendar shift – two opinions”
British Pound Rallies Against US Dollar Following UK Jobless Data
The British pound rose against the US dollar and the euro on Wednesday, to partly recover from the losses it suffered after Parliament approved Theresa Mayâs Brexit bill. The pound got support from a jobless data release in the United Kingdom, despite the somewhat mixed picture of the labor market that the release painted. The UK Office for National Statistics said in a report published earlier today that the unemployment rate declined to 4.7% in the three months … “British Pound Rallies Against US Dollar Following UK Jobless Data”
USD/CAD Demonstrates Bearish Trend Ahead of FOMC Rate Decision
The USD/CAD currency pair today traded with a bearish trend despite the release of positive Consumer Price Index data and advance retail sales data from the US docket. The Canadian dollar’s rally was largely sustained by the higher crude oil prices in the global commodities market with the WTI crude oil gaining at least 1.5% earlier today. The currency pair was on a bearish trend from the start of the day’s session and had lost … “USD/CAD Demonstrates Bearish Trend Ahead of FOMC Rate Decision”
Will the Fed push the dollar higher? Two opinions
Apart from our own Fed preview we also provide outlooks from others. Here are two hawkish opinions: Here is their view, courtesy of eFXnews: USD Into FOMC: Looking For Pullbacks As Buying Opportunities – TD TD Research notes that the core of attention at today’s FOMC policy decision will center on the tone, dots, and forecasts. … “Will the Fed push the dollar higher? Two opinions”