The euro dropped against its major peers (with the exception of the US dollar) today even though the economic sentiment indicators for Germany and the whole eurozone improved. The ZEW Indicator of Economic Sentiment for Germany climbed from 12.8 to 19.5 in April, far above the consensus forecast of 13.2. The index of the current economic situation in Germany also improved. The index of economic expectations for the eurozone improved from 25.6 to 26.3 instead of falling to 25.0 as forecasters had … “Euro Drops Despite Improving Economic Sentiment”
Month: April 2017
US Dollar Weakens Against Japanese Yen as Investors’ Risk Appetite Declines
The US dollar today weakened against the Japanese yen as the markets became risk averse following a decline in US treasury yields. The US dollar is experiencing its worst performance this month as the USD/JPY currency pair declined to record lows as investors sold the greenback and bought the Japanese yen. The greenback performed extremely poor during today’s session as tracked by the US Dollar Index given that the index had declined from its … “US Dollar Weakens Against Japanese Yen as Investors’ Risk Appetite Declines”
Great Britain Pound Little-Changed During Quiet Tuesday’s Trading
The Great Britain pound was steady on Tuesday, the same as some other currencies (like the Australian dollar). Britain’s economic reports were mixed, giving the currency no reason to go one way or the other. Retail sales reported by British Retail Consortium dropped 1.0% in March from a year ago, though the report said that data released ahead of the volatile Easter period may be unreliable. Meanwhile, consumer price annual … “Great Britain Pound Little-Changed During Quiet Tuesday’s Trading”
Australian Dollar Steady on Tuesday
The Australian dollar was little changed today even though domestic macroeconomic data released over the trading session was relatively decent and supportive to the currency. The business confidence index released by National Bank of Australia today showed a small drop from 7 in February to 6 in March. At the same time, the business conditions index edged up from 9 to 14. Overall, the report was fairly positive, saying: Results from the March … “Australian Dollar Steady on Tuesday”
Pound Bounces from Lows as Traders Wait for Inflation Report
The Great Britain pound bounced from its recent lows on Monday as traders were waiting for inflation data that may prompt the Bank of England to start monetary tightening sooner. Forecasters predicted that the Tuesday’s report will show an increase of the Consumer Price Index by 2.2% in March following the gain by 2.3% in February. Analysts speculated that high inflation and the weak currency may force the BoE to act sooner than planned, starting … “Pound Bounces from Lows as Traders Wait for Inflation Report”
US Dollar Declines Against Euro as Anticipation Grows for Yellen Speech
The US dollar weakened against the euro and the British pound on Monday, as investors speculated the future road of monetary policy in the United States. Comments from New York Federal Reserve President William Dudley on Friday offered a dovish position on future interest rate hikes ahead of a speech by Federal Reserve Chairwoman Janet Yellen today. Dudley, who is a member of the Federal Open Market Committee, said that the time when the Federal Reserve … “US Dollar Declines Against Euro as Anticipation Grows for Yellen Speech”
EUR/USD Starts the Week on a Decline as French Elections Approach
The EUR/USD currency pair began the day trading under intense pressure, which did not change even with the release of the Eurozone Sentix Investor Confidence index. The weekend release of a poll conducted by Kantar Sofres on the French election indicated that the election was now a four-horse race. The currency pair lost about 20 points from its daily high at the peak of its decline and was trading in a sideways range during most … “EUR/USD Starts the Week on a Decline as French Elections Approach”
Czech Koruna Continues to Appreciate After Cap Removal
The Czech koruna continued to appreciate after the nation’s central bank had removed a cap on the currency last week. It is no surprise to see the volatility of the koruna to increase after the Czech National Bank scrapped the ceiling of CZK27 per euro even though the decision was much better communicated to markets and was far less shocking than the similar move by the Swiss National Bank. Analysts expect the currency to continue appreciation, but … “Czech Koruna Continues to Appreciate After Cap Removal”
Aussie Starts Week Soft in Risk-Off Environment
The Australian dollar started the week soft, opening below the Friday’s close, as the risk-off sentiment continued to prevail on markets, driving investors away from riskier assets. Geopolitical tensions rise all around the world: in Asia with North Korean missile tests, in Middle East with the US attack on a Syrian base, in Europe with the upcoming French elections, and in America with concerns about the ability of US President Donald Trump to deliver on his … “Aussie Starts Week Soft in Risk-Off Environment”
GBP/USD: Trading the UK Average Earnings Index
UK Average Earnings Index, released each month, is a leading indicator of consumer inflation. 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 GMT. Indicator Background The Average Earnings Index measures wage growth and is closely watched by … “GBP/USD: Trading the UK Average Earnings Index”