EUR/USD ended the week just under 1.10. Can it continue higher after the French elections? Here is their view, courtesy of eFXnews: Credit Agricole FX Strategy Research believes that the EUR is facing a further but gradual appreciation trend especially after this week’s second round vote in the French presidential elections which likely to help further shift the focus … “EUR: Long Positioning Far From Elevated; A Buy On Dips”
Month: May 2017
Dollar Soft Despite Week of Good Fundamentals
As was expected, this trading week provided plenty of news important for the US dollar. But while fundamentals look good, the greenback was not particularly strong, ending the week lower against many most-traded counterparts. The Federal Reserve did not provide many surprises, keeping its policy unchanged, but suggested in the statement that the weakness of the US economy in the first quarter of this year was transitory. Economic data released … “Dollar Soft Despite Week of Good Fundamentals”
Canadian Dollar Gains Strength amid Stabilizing Oil Prices
The Canadian dollar strengthened against a number of its main counterparts on Friday, after traders of the currency felt relieved as prices of crude oil began to stabilize following sudden declines earlier today. Canadian economic data was mixed today, as upbeat data for business activity and unemployment rate were met with a disappointing number of new jobs. A decline in prices of a group of major commodities weighed on oil prices for the past two weeks as concerns … “Canadian Dollar Gains Strength amid Stabilizing Oil Prices”
Pound Rallies on Friday After Week of Good Data
The Great Britain pound gained on Friday, poised to end the week with gains versus the Japanese yen but was heading to losses against the euro and the Swiss franc. All the major reports released from Great Britain during the week (be it data about manufacturing, construction, or services) were good and exceeded expectations. That proved that Britain’s economy stayed resilient in face of the looming Brexit. Some analysts argued that … “Pound Rallies on Friday After Week of Good Data”
Euro Rallies Higher Against the US Dollar as NFP Effects Fade
The EUR/USD rallied higher today as the effects of the positive non-farm payrolls subsided during the North American session. The euro briefly declined against the US dollar due to the positive non-farm payrolls, but later rallied higher as the NFP effects faded. The EUR/USD currency pair gained over 40 points at the height of its rally and was on an upward trend at the time of writing. The currency pair had dropped to 1.0946 after the non-farm payrolls were released, … “Euro Rallies Higher Against the US Dollar as NFP Effects Fade”
US Dollar Posts Mixed Results on Positive Non-Farm Payrolls Data
The US dollar today displayed mixed reactions to the positive non-farm payrolls as it weakened against some of its peers while rallying against others. Immediately after the release of the non-farm payrolls by the Bureau of Labor Statistics, the US dollar strengthened against the Japanese yen, but demonstrated weakness against the euro. The greenback has been largely weaker during today’s session as tracked by the US Dollar Index, which has been trading below its … “US Dollar Posts Mixed Results on Positive Non-Farm Payrolls Data”
NFP Preview: did the Fed hint a positive outcome?
After a disappointing jobs report for March, economists expect a rebound in April. While it is hard to imagine a poor report after the Fed was sanguine about the economy, nothing can be ruled out. Will expectations for a June hike rise after the event pushing the dollar higher? Or will it provide a selling opportunity? So how can we … “NFP Preview: did the Fed hint a positive outcome?”
Australian Dollar Follows Crude Oil in Volatile Trading
The current trading session was very volatile for crude oil, and commodity currencies like the Australian and the Canadian dollars (though not the New Zealand dollar) were following moves of oil prices. Prices for crude tumbled intraday, dragging the Aussie and the loonie along with them. As of now, crude stabilized, therefore the currencies have managed to trim losses. The Reserve Bank of Australia released its Monetary Policy Statement today, which provided no … “Australian Dollar Follows Crude Oil in Volatile Trading”
New Zealand Dollar Avoids Drop Thanks to Inflation Expectations
The New Zealand dollar rose today, avoiding the slump that other commodity currencies suffered due to the drop of crude oil prices. Domestic macroeconomic data likely helped the kiwi. The Reserve Bank of New Zealand upgraded its inflation expectations for the annual Consumer Price Index growth in two years from now, increasing them from 1.92% to 2.17%. The expected growth remains in the central bank’s target range, meaning that there … “New Zealand Dollar Avoids Drop Thanks to Inflation Expectations”
EUR looks strong – where to target?
EUR/USD is edging closer to 1.10 on hopes for a Macron win as well as other reasons. What’s next? Here is their view, courtesy of eFXnews: EUR: Path Of Appreciation Looking Clearer; Where To Target? – CIBC CIBC FX Strategy Research argues that the path for further EUR appreciation is now looking clearer mainly on the … “EUR looks strong – where to target?”