The US dollar weakened against the euro and the British pound among other major currencies on Tuesday, as geopolitical developments around the globe continued to weigh on the US currency. Economic data in the United States failed to support the greenback today, as a new housing report painted a mixed picture of the real estate market. Global geopolitical factors continued to be out of favor for the greenback today. The dollar plummeted against the British pound following a surprising call for a general … “US Dollar Drops Against Euro as Housing Data Disappoints”
Month: April 2017
Euro Rallies Higher Against US Dollar Despite Looming French Elections
The euro rallied higher against the US dollar today despite the uncertainty surrounding the upcoming French Presidential elections. The euro’s rally entered the second day as the selling pressure on the US dollar keeps rising due to disappointment with the Trump trade. The currency pair had gained over 50 points at the height of its rally and was on a rising trend at the time of writing. The euro’s rally appears to be triggered by the VSTOXX index, which tracks the volatility of European … “Euro Rallies Higher Against US Dollar Despite Looming French Elections”
Pound Soars After Theresa May Shocks Markets with Election Announcement
The Great Britain pound jumped today after Britain’s Prime Minister Theresa May made a surprise announcement that general elections will happen in June. May shocked markets by announcing that a snap general election will be held on June 8. The voting was originally scheduled to happen in 2020. That was a total surprise as the Prime Minister was repeatedly saying that she does not plan early elections. … “Pound Soars After Theresa May Shocks Markets with Election Announcement”
Australian Dollar Drops Against US Dollar upon Release of RBA Minutes
The Australian dollar dropped significantly against the US dollar after the release of the minutes of Reserve Bank of Australia, which hinted at a dovish outlook. The RBA minutes indicated that the bank was worried about Australia’s weak labor market as evidenced by high unemployment rates and the increasing risks in the housing market. The AUD/USD had lost over 50 points at the time of writing as the selling pressure on the Aussie stabilised. There was subdued price action around … “Australian Dollar Drops Against US Dollar upon Release of RBA Minutes”
5 reasons why the UK elections should be pound positive
UK Prime Minister Theresa May surprised the world and announced a snap election on June 8th. With Labour’s consent, the elections will indeed be held on June 8th. May made a calculated gamble to head to the polls. She is aware of her high popularity and is likely to win. GBP/USD is already on the rise, topping 1.2665. Here … “5 reasons why the UK elections should be pound positive”
French elections – Latest poll more favorable for Macron
Emmanuel Macron leads the first round according to the OpinionWay poll with 23%, above Le Pen’s 22% and with Fillon moving down with 20%. Melechon closes the list with 19%. In the run-off, Macron is stable with 64% against Le Pen’s 36%. Fillon loses ground: 58% against 42%, a two-point shift towards Le Pen. All in all, … “French elections – Latest poll more favorable for Macron”
EUR/USD Rallies Higher on Soft US Housing and Manufacturing Data
The EUR/USD currency pair rallied higher today given the weaker US dollar as tracked by the US Dollar Index and the stronger euro. The currency pair rallied higher as the US NAHB housing market index and the Empire State manufacturing survey both registered disappointing figures. The currency pair gained over 50 points at the height of its rally and climbed steadily throughout the European and the early American session. The weaker US dollar was the main trigger … “EUR/USD Rallies Higher on Soft US Housing and Manufacturing Data”
‘The Great Le Pen Scare’: How Could EUR, GBP React
The French elections are getting closer and every opinion poll moves the euro, with markets scared of Marine Le Pen. What does this mean for the euro and the pound? Here is their view, courtesy of eFXnews: Although data from the euro area this week painted an upbeat picture, with strong manufacturing PMIs and German ifo … “‘The Great Le Pen Scare’: How Could EUR, GBP React”
AUD/USD: Trading the Chinese GDP
Chinese Gross Domestic Product (GDP) is a measurement of the production and growth of the economy, and analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published … “AUD/USD: Trading the Chinese GDP”
Yen Thrives During Week of Risk Aversion
The Japanese yen was among the strongest currencies during the past trading week as rising risk aversion encouraged traders to stick to safer assets and to avoid riskier ones. The main theme during the week was North Korea as tensions between the country and the United States (and their allies) were escalating. The souring relationships between the USA and Russia did not help the investors’ mood either. The yen tends to benefit from fear and uncertainty, and that … “Yen Thrives During Week of Risk Aversion”