The UK service sector surprised analysts by growing much faster than they have anticipated. That helped the Great Britain pound to gain on its most-traded peers during the Wednesday’s trading session. The seasonally adjusted Markit/CIPS Services PMI jumped from 53.3 in February to 55.0 in March. It was a noticeably higher reading than 53.5 predicted by analysts. While indexes for other sectors released earlier this week were not … “Accelerating Growth of UK Service Sector Helps Sterling”
Month: April 2017
GBP/USD: to 1.20, 1.30 or still stuck? Two opinions
GBP/USD shrugged off the triggering of Article 50 and despite sliding, has not collapsed nor seen the “short squeeze” envisaged by many. What’s next? Here is their view, courtesy of eFXnews: GBP: Still The Most Undervalued G10 Currency: A Buy Or Not? – Credit Agricole Credit Agricole CIB Research argues that GBP outlook will likely … “GBP/USD: to 1.20, 1.30 or still stuck? Two opinions”
EUR/USD: scenarios, wildcards and the next steps
EUR/USD remains entrenched in a narrow range and fails to move after the downfall. Here are three opinions about the next moves in euro/dollar: Here is their view, courtesy of eFXnews: EUR/USD: What Now?: Assessing 3 Scenarios & 3 Wild Cards – Danske Danske Bank FX Strategy Research reassess its outlook for EUR/USD in light … “EUR/USD: scenarios, wildcards and the next steps”
US Dollar Loses Earlier Gains Against Euro Ahead of Anticipated Economic Data
The US dollar lost earlier gains against the euro on Tuesday, ahead of a stream of economic releases occurring tomorrow that raised anticipation and reduced investorsâ appetite for risk. The market also eyed the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping on Thursday, which might provide some hints on Trumpâs international trade policies. The data front was largely quiet today, as the only economic release came … “US Dollar Loses Earlier Gains Against Euro Ahead of Anticipated Economic Data”
GBP/USD Declines for Second Day Triggered by Disappointing Industry Reports
The GBP/USD currency pair declined for the second day in a row after the release of the Markit/CIPS UK construction PMI, which did not meet expectations. The currency pair was also affected by the stronger US dollar given the massive buying interest in the greenback due to positive market sentiment. The currency pair lost over 70 points at the height of its decline as the US dollar, which is tracked by the US Dollar Index, traded at session highs … “GBP/USD Declines for Second Day Triggered by Disappointing Industry Reports”
South African Rand Bounces After Intraday Drop
The South African rand fell during the current trading session but has bounced versus the US dollar by now. The drop was a result of the sovereign credit rating downgrade by Standard & Poor’s. The S&P reduced South Africa’s credit grade to junk status today. The decision followed sacking of country’s Finance Minister Pravin Gordhan last Thursday. The rating downgrade is likely to erode investors’ confidence in the country’s assets and will make … “South African Rand Bounces After Intraday Drop”
Traders Seek Safety on Tuesday, Yen Gains as Result
The market sentiment was favoring safe currencies on Tuesday, helping the Japanese yen to log gains during the current trading session. Among reasons for the investors’ poor mood were the terrorist attack in Russia and the upcoming presidential elections in France. The explosion in St. Petersburg metro killed at least 11 people, and Russian Prime Minister Dmitry Medvedev called it a “terrorist act.” Meanwhile, uncertainty associated with the outcome of the French presidential elections, which … “Traders Seek Safety on Tuesday, Yen Gains as Result”
Aussie Trades Lower After RBA Keeps Monetary Policy Without Changes
The Australian dollar was trading broadly soft today after the nation’s central bank left its monetary policy unchanged. The market sentiment that was negative to riskier currencies also played its part in the Aussie’s decline. The Reserve Bank of Australia decided to keep its main interest rate at 1.5% as the vast majority of analysts were expecting. The central bank kept the statement almost unchanged, though voiced concern about the state … “Aussie Trades Lower After RBA Keeps Monetary Policy Without Changes”
GBP/USD: Trading the UK Services PMI
UK Services PMI is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 8:30 … “GBP/USD: Trading the UK Services PMI”
US Dollar Declines Against Yen on Uncertainty Surrounding Congressional Support for Trump
The US dollar declined against the Japanese yen on Monday as investors worried that President Donald Trump might not have enough support in Congress to fulfill his economic agenda. Todayâs concerns came after Democrats managed to gather enough support to block a US Senate confirmation vote for Neil Gorsuch, Trumpâs nominee for Supreme Court. The new political development added to worries that were raised when Trump and House Speaker … “US Dollar Declines Against Yen on Uncertainty Surrounding Congressional Support for Trump”