The pound is on the move higher after the elections announcement. After the initial move, it consolidated its gains. What’s next? Here is their view, courtesy of eFXnews: NAB FX Strategy Research notes that GBP has surged since the announcement of early UK elections. In that regard, NAB argues that while there are several reasons for … “GBP: When Will The GBP Peak? Where To Target? – NAB”
Month: April 2017
New Zealand Dollar weakens Against US Counterpart Following Trump Tweet on Dairy Industry
The New Zealand dollar dropped on Wednesday against its US peer to continue a steep decline that began on April 24. Todayâs declined followed remarks made by US President Donald Trump on Twitter regarding the US dairy industry yesterday. Trumpâs tweet said that Canada increased the difficulty that US dairy farmers in Wisconsin and other border states face when competing with the prices of milk and dairy products imported … “New Zealand Dollar weakens Against US Counterpart Following Trump Tweet on Dairy Industry”
AUD/USD at the lowest since January – levels to watch
Political pundits are commemorating Trump’s first 100 days in office. It has also been 100 days since AUD/USD traded at the current level of 0.7465. This popular currency pair is below the 0.7470 level that was seen earlier in April. It last dipped to these levels on January 17th, just before Trump’s inauguration. Why is … “AUD/USD at the lowest since January – levels to watch”
USD/CAD Trades Sideways After Disappointing Canadian Retail Sales Data
The USD/CAD currency pair briefly rallied higher after the release of disappointing Canadian retail sales data for the month of February, but later declined. The currency pair performed much better today even as the retail sales data weakened the Canadian dollar, which came under intense selling pressure briefly after the release. The currency pair was trading in a choppy manner today as it declined before the release then rallied briefly, but … “USD/CAD Trades Sideways After Disappointing Canadian Retail Sales Data”
Yen on Back Foot as Investors Have Confidence to Risk
The Japanese yen was on a defensive during the Wednesday’s trading session as the market sentiment continued to favor riskier currencies over safer ones. Fears caused by the French Presidential election continued to recede as markets welcomed the outcome of the first round of voting. Traders will watch tomorrow’s policy statement of the Bank of Japan, which may show whether Japanese policy makers plan to end extremely accommodative monetary policy in the foreseeable future. Outside of Japan, … “Yen on Back Foot as Investors Have Confidence to Risk”
AUD/USD Drops for Third Day as Australian CPI Misses Expectations
The Australian dollar dropped today, falling for the third straight day against its US counterpart. The reason for the decline was the inflation report that missed expectations, even though the disparity was minimal. The Australian Consumer Price Index rose 0.5% in the March quarter from the previous three months, the same as in the December quarter. Markets had expected a bit faster growth by 0.6%. While markets considered the data to be dovish, analysts do … “AUD/USD Drops for Third Day as Australian CPI Misses Expectations”
EUR: Dip buying is the way to go – two opinions
The euro is on a roll following the French elections and hopes for a more upbeat ECB tomorrow. What does this mean? Here are two banks suggesting buying dips in EUR/USD and EUR/JPY: Here is their view, courtesy of eFXnews: EUR: Investors Shifting To A Buy-The-Dip Strategy: Levels & Targets – ING ING FX Strategy Research … “EUR: Dip buying is the way to go – two opinions”
Canadian Dollar Declines as US Imposes New Duties on Canadian Lumber Imports
The Canadian dollar weakened against the US dollar and a number of other major peers on Tuesday after the United States decided to impose higher duties on lumber coming from Canada. Traders preferred to stay off the market ahead of a highly anticipated report on Canadian retail sales in February that is due to be released tomorrow. The US Department of Commerce had an investigation of Canadian softwood lumber imports, which concluded that these imports … “Canadian Dollar Declines as US Imposes New Duties on Canadian Lumber Imports”
US Dollar Drops to New Lows Despite Positive US Data
The US dollar declined to new lows today after the release of a raft of economic reports from the US economic docket. Today’s economic releases include the consumer confidence index, the house price index, the new homes sales report and the S&P/Case-Shiller US home price index. The US dollar was weaker for most of today’s session as tracked by the US Dollar index, which was trading 99.05 for the better part of the day. The US consumer confidence … “US Dollar Drops to New Lows Despite Positive US Data”
Seismic Shift In Fundamentals Points to Higher EURUSD
USD Perspective Into the close of last year price action was functioning on the dynamic of expectations of euro zone political turmoil weighing on EUR and “Trump-flation” supporting USD. Fast forward four months and we have seen a stark break down in this dynamic and a reversal in direction for EURUSD. Donald Trump’s election was … “Seismic Shift In Fundamentals Points to Higher EURUSD”