The USD/JPY currency pair today tested new lows as the Japanese yen strengthened against the US dollar during the North American session. Although the pair gained momentum after the release of positive US personal income and outlays data, the currency pair was trading lower as the yen rallied against the greenback. The currency pair rallied to a high of 111.23 after the release of positive US economic data early in the American session, but fell to a new … “USD/JPY Tests New Lows as Japanese Yen Strengthens Against US Dollar”
Month: May 2017
Canadian Dollar Suffers from Domestic Data & Crude Oil Prices
The Canadian dollar dropped against its most-traded rivals during the current trading session, driven down by unfavorable domestic macroeconomic data and the decline of crude oil prices. Canada’s current account deficit widened to C$14.1 billion in the first quarter of 2017 from upwardly revised C$11.8 billion registered in the previous reporting period. That was a surprise to markets participants as experts had predicted a drop to C$11.4 billion. The report explained the result by the fact … “Canadian Dollar Suffers from Domestic Data & Crude Oil Prices”
Euro Preserves Momentum amid ECB Speculations
The euro continued to trim losses during the current trading session even though German inflation was disappointing. The reason for the currency’s good performance were speculations about the possible change of European Central Bank’s dovish stance. The German Consumer Price Index fell 0.2% in April, more than analysts predicted (0.1%). Yet that did not disturb the euro, which was rising on the report from Reuters that the ECB may … “Euro Preserves Momentum amid ECB Speculations”
CAD: A Couple Of Major Positives – Where To Target?
The Canadian dollar rocked and rolled on the OPEC meeting and awaits the GDP report. What’s next? Here is their view, courtesy of eFXnews: Societe Generale FX Strategy Research expect modest CAD upside over the medium-term on the back are a couple of major positives for the Canadian dollar. The first, according to SocGen, is that crude … “CAD: A Couple Of Major Positives – Where To Target?”
Euro Attempts to Bounce Despite Disappointing Economic Reports
The euro is trading below the opening level against most of its major rivals currently, but is showing tendency to rebound and was actually able to erase losses versus the US dollar completely. The bounce seems to follow the release of eurozone macroeconomic data, but that in no way looks justified as the indicators were disappointing for the most part. According to the flash report, Spain’s Consumer Price Index rose 1.9% in May from … “Euro Attempts to Bounce Despite Disappointing Economic Reports”
Great Britain Pound Reverses Earlier Tuesday’s Moves
The Great Britain pound reversed its earlier moves today, rebounding versus the US dollar and the Japanese yen but trimming gains against the euro and the Swiss franc. Politics are likely to continue driving the currency in the near future. Apparently, markets are betting on the victory of the Conservative party of UK Prime Minister Theresa_May in the coming general election, and that is viewed as a positive outcome. May showed tough stance, willing to walk away … “Great Britain Pound Reverses Earlier Tuesday’s Moves”
Great Britain Pound Rebounds After Friday’s Losses
The Great Britain pound rose against its major rivals today following the huge losses on Friday caused by polls that showed the ruling Conservative party is losing its lead ahead of the snap election in June. Conservatives had a huge lead over their Labour rivals according to the early polls. Yet the latest polls show that the gap is narrowing. It is important to note that there are still … “Great Britain Pound Rebounds After Friday’s Losses”
South African Rand Drops as Zuma Resists Calls to Step Down
The South African rand fell against the US dollar today after President Jacob Zuma resisted calls to step down, supported by his party. Pressure was growing on Zuma to step down, even from withing his ruling African National Congress party, since he fired finance minister Pravin Gordhan in March. Yet the ANC committee decided to back the President. The rand fell as a result, though some analysts speculated … “South African Rand Drops as Zuma Resists Calls to Step Down”
South Korean Won Falls vs. US Dollar After North Korean Missile Test
North Korea performed yet another missile test, but markets were not disturbed by the event much. Nevertheless, the South Korean won fell a bit against the US dollar. North Korea fired one short-ranged missile that landed in the sea off its coast. Market participants did not feel particularly worried by the news, and the won’s decline was likely rather a result of the dollar’s strength. The US currency gained support … “South Korean Won Falls vs. US Dollar After North Korean Missile Test”
Dollar Ends Week Relatively Subdued
The US dollar ended this week’s mostly flat due to the mixed minutes of the latest meeting of the Federal Open Market Committee. The greenback was far from being the weakest currency, though, as the Great Britain pound logged even bigger losses, mostly due to politics. Markets considered the FOMC minutes to be dovish and sent the dollar down. But in truth, the notes had both dovish and hawkish remarks, signaling that the US policy … “Dollar Ends Week Relatively Subdued”