The US dollar rose against a basket of its major peers on Tuesday as traders embraced more risk amid improved near future outlook for the US monetary policy. A number of speeches from officials of the Federal Reserve gave out strong signals for higher interest rates when the US central bank holds its next meeting on June 13. Cleveland Federal Reserve President Loretta Mester said during a speech to the Chicago Council … “US Dollar Climbs Against Most Major Peers on Positive Interest Rates Outlook”
Month: May 2017
USD/CAD Rallies Higher on Weak Canadian Building Permits Data
The USD/CAD currency pair today rallied higher after the release of Canada’s building permits data for the month of March released by Statistics Canada, which did not meet expectations. The Canadian dollar was largely weaker against the US dollar even as crude oil prices faced uncertainty regarding the renewal of oil supply cuts by OPEC countries. The currency pair gained over 80 points at the height of its rally even as the US dollar as tracked … “USD/CAD Rallies Higher on Weak Canadian Building Permits Data”
What’s next for the euro? Dip buying?
The euro sold the fact on the victory of Emmanuel Macron. What’s next? Here are two opinions, putting the common currency against different counterparts. Here is their view, courtesy of eFXnews: EUR: 2 Challenges N-Term & A Period Of Choppy Trading: What’s The Trade? – SocGen Societe Generale FX Strategy Research’s first reaction following yesterday’s … “What’s next for the euro? Dip buying?”
Canadian Dollar Retreats as Weak Chinese Data Weighs on Metal Prices
The Canadian dollar weakened against its US counterpart on Monday, after a decline in metal prices forced the loonie to erase some of its gains on Friday. Positive data for housing starts in April, which were released earlier today, failed to yield gains for the Canadian currency. Chinaâs General Administration of Customs said that the nationâs trade growth slowed down in April amid smaller demand for commodities and electronics. Chinese exports grew 8.0% … “Canadian Dollar Retreats as Weak Chinese Data Weighs on Metal Prices”
US Dollar Rallies Slightly Higher, but Still Under Increased Selling Pressure
The US dollar today rallied higher during the North American session despite the increased selling pressure on the currency, according to the latest CFTC report. The selling pressure on the greenback stems from last week when the currency did not post any improvements, despite the positive nonfarm payrolls. The greenback’s performance, as tracked by the US Dollar Index, was lacklustre during the European session but improved drastically during the American session as the Index hit … “US Dollar Rallies Slightly Higher, but Still Under Increased Selling Pressure”
Aussie Mixed After Release of Data from China & Australia
The Australian dollar was mixed today after the release of economic indicators from Australia and China. While China’s trade surplus was above market expectations, growth of both imports and exports was below forecasts. Australia’s data was not particularly stellar either as the number of building approvals slumped by 13.4% in March from February on a seasonally adjusted basis. Yet not all reports were bad, as business confidence reported by National … “Aussie Mixed After Release of Data from China & Australia”
Great Britain Pound Waits for Super Thursday
The calendar of macroeconomic reports for Great Britain is almost empty this week with one major exception â Thursday. Almost all economic indicators scheduled for this week will be released on that day, thus the nickname âSuper Thursday.â Of course, it should be very important for the performance of the Great Britain pound. The Bank of England will announce its monetary policy decision on the Super Thursday. While no changes … “Great Britain Pound Waits for Super Thursday”
Euro Backs Off After Opening Sharply Higher
The euro has backed off from its daily highs by now but only after opening sharply higher following the landslide victory of centrist Emmanuel Macron in the second round of the French Presidential election. Markets-favored Macron won with about two thirds of the votes, the result that was in line with opinion polls ahead of the voting. Yet many people were feeling that polls should not be trusted after … “Euro Backs Off After Opening Sharply Higher”
EUR/USD – selling the fact? Two opinions
Emmanuel Macron was elected President and received two-thirds of the vote. This was mostly priced in. Will we now see a selloff of the euro? Here is their view, courtesy of eFXnews: Macron Wins: EUR/USD: ‘Buy The Rumor, Sell The Fact’ – Barclays Barclays Capital FX Strategy Research argues that the victory of Emmanuel Macron carries the … “EUR/USD – selling the fact? Two opinions”
NFP Analysis: Still lots of slack – lower chances of
The good news is that the slowdown in March was a blip: only 79K jobs gained according to the revised data. The excuse about the weather has turned into a valid reason. The job gains in April, 211K, shows a positive trend. However, the full employment theory does not seem to hold: big job gains … “NFP Analysis: Still lots of slack – lower chances of”