The USD/CAD currency pair today declined briefly after the Bank of Canada released the Spring 2017 results of its Business Outlook Survey, which indicated a positive economic sentiment among the business community. Despite this brief rally, the currency pair continued on an upward trend as the US dollar proved much stronger against the loonie given the weaker crude oil prices. The currency pair declined briefly after the release before resuming its … “USD/CAD Declines Briefly After Release of BoC’s Business Outlook Survey”
Month: April 2017
EUR/GBP – The Brexit pair has room to the downside
After Article 50 has officially been triggered, there is a lot of attention to euro/pound, aka “the Brexit currency pair”. Here are two opinions seeing some downside: Here is their view, courtesy of eFXnews: EUR/GBP: Overvalued; Shorts Attractive Ahead Of French Election – TD TD Research still like EUR/GBP lower on the grounds that the prospects of selling EUR/GBP … “EUR/GBP – The Brexit pair has room to the downside”
Yen Flat After Tankan Survey
The Japanese yen was mostly flat today after the release of the Tankan survey that showed improvement in both manufacturing and non-manufacturing sectors for large enterprises. The manufacturing index rose from 10 in the December quarter to 12 in the March quarter, missing analysts expectations of 14. The non-manufacturing index increased from 18 to 20, exceeding the median forecast of 19. Overall though, economists were not impressed with the data and did not consider it … “Yen Flat After Tankan Survey”
Aussie Starts Week Soft due to Macroeconomic Data
The Australian dollar has started this trading week with losses due to poor macroeconomic data, both domestic and overseas. The major perpetrator in the Aussie’s fall was the retail sales report that showed unexpected drop by 0.1% in February from January while experts had predicted an increase by 0.3%. Adding to the pressure on the currency was the Caixin China General Manufacturing PMI released on Saturday, which showed a decline from 51.7 in February … “Aussie Starts Week Soft due to Macroeconomic Data”
AUD/USD: Trading the Australian Trading Balance
Australian Trade Balance is closely linked to currency demand and is a key indicator. A reading which is higher than expected is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Tuesday at 1:30 GMT. Indicator Background Australian Trade Balance measures the difference in the value of imported and … “AUD/USD: Trading the Australian Trading Balance”
EUR/USD – recovery or further downfall? Three opinions
EUR/USD made a move to the topside only to fall and get entrenched in a lower range. What’s next? Here are three opinions: Here is their view, courtesy of eFXnews: EUR: 3 Reasons For Further Upside Coming Months; Where To Target? – Credit Suisse Credit Suisse FX Strategy Research makes the case for further EUR … “EUR/USD – recovery or further downfall? Three opinions”
Dovish Stance of ECB Results in Week of Euro Sell-Off
Traders were selling the euro during the past trading week as the European Central Bank suggested that markets interpreted its stance on monetary policy wrongly, believing it to be more hawkish than it actually is. Markets were thinking that the hawkish statement that followed the latest policy meeting means that the ECB will act soon, tightening its monetary policy. Yet the Reuters report said that … “Dovish Stance of ECB Results in Week of Euro Sell-Off”