The ECB is more optimistic on growth but the downgrade of inflation projections hurt the euro. What’s next? Here is their view, courtesy of eFXnews: Danske Bank FX Strategy Research argues that today’s message from the ECB is not going to be a key catalyst for further EUR/USD upside for three reasons. “First, ECB rate hikes will … “EUR/USD: A Tactical Short; ECB Not A Catalyst For”
Month: June 2017
Swiss Franc Falls vs. Dollar & Yen, Gains on Euro & Pound
The Swiss franc fell against the US dollar and the Japanese yen but gained versus the Great Britain pound and the euro by the end of the Thursday’s session. Economic reports released during the trading session in Switzerland were favorable to the currency. The State Secretariat for Economic Affairs reported that the unemployment rate stayed at 3.2% in May, while experts were counting on an increase to 3.3%. The Federal Statistical Office reported that the Consumer Price Index rose by 0.2% … “Swiss Franc Falls vs. Dollar & Yen, Gains on Euro & Pound”
US Dollar Higher After James Comey Concludes Testimony
The US dollar rose today after the testimony of former FBI chief James Comey concluded without major revelations that can lead to an impeachment of US President Donald Trump. Today’s testimony of Comey to the US Senate was considered a major event that could change the US political landscape significantly. Yet those who were counting on some shocking revelations were sorely disappointed. Comey basically repeated what was … “US Dollar Higher After James Comey Concludes Testimony”
Euro Loses Ground Against US Dollar as ECB Maintains Interest Rates Unchanged
The euro lost ground against the US dollar on Thursday after the European Central Bank decided to keep interest rates unchanged after concluding its Juneâs monetary policy meeting. The shared currency remained stable against the British pound as the market awaited the outcome of a vote that decides Members of Parliament in the United Kingdom. Following a meeting that was held in Tallinn, the Governing Council of the European Central Bank decided to maintain the euro zoneâs … “Euro Loses Ground Against US Dollar as ECB Maintains Interest Rates Unchanged”
Yen Goes Lower vs. Rivals as Economic Data & Market Sentiment Don’t Support
The Japanese yen dropped today, hurt by domestic macroeconomic data and the general market sentiment. Japan’s gross domestic product growth in the first quarter of 2017 was finalized at 0.3% — the same as in the previous two quarters. The final reading was below the preliminary estimate of 0.5% and the predicted increase by 0.6%. Meanwhile, markets disregarded the written testimony of former FBI director James Comey unexpectedly released on Wednesday, thinking it did not reveal anything … “Yen Goes Lower vs. Rivals as Economic Data & Market Sentiment Don’t Support”
Australian Dollar Steady Despite Macroeconomic Data
The Australian dollar was steady against its US counterpart and rose versus other most-traded rivals even though macroeconomic data, both domestic and from abroad, was not particularly good. Australia’s trade balance surplus narrowed sharply from A$3.17 billion in March to A$0.56 billion in April, far below the predicted value of A$1.91 billion. China’s trade surplus rose from $38.1 billion in April to $40.8 billion in May … “Australian Dollar Steady Despite Macroeconomic Data”
UK elections: GBP waiting to explode, but to which
When PM Theresa May called the snap election, the pound rallied and the event was shrugged off. However, the campaign became quite tight and uncertainty is high. This uncertainty is also driven by opinion polls, which all go in very different directions. You cannot blame them for any kind of herding. With leads of between … “UK elections: GBP waiting to explode, but to which”
Pound Logs Gains Ahead of Thursday’s Election
The Great Britain pound rose today even as markets remained cautious ahead of tomorrow’s general election, which may have a tremendous impact on the currency, and not necessarily a positive one. Opinion polls remained divided over the outcome of the voting. While some polls were promising a strong (though narrowing) lead of the ruling Conservative party, others showed that neither the Tories, nor the Labour party will get a majority, resulting in a hung … “Pound Logs Gains Ahead of Thursday’s Election”
![ECB: The beginning of the end of QE? [Video]](https://investinearth.org/wp-content/uploads/2017/06/Fotolia_80643790_S.jpg)
ECB: The beginning of the end of QE? [Video]
The ECB is moving slowly but the economy’s growth has accelerated. Does the economy still need intensive care? The ECB buys 60 billion euros per month and the program lasts until the end of the year. In this meeting, we might hear a more optimistic assessment, paving the way for a bigger one in September. … “ECB: The beginning of the end of QE? [Video]”
US Dollar Drops Against Japanese Yen as Caution Spreads Between Traders
The US dollar traded near its lowest level against the Japanese yen in more than seven weeks on Wednesday as a cautionary mood took over the market. Traders are anticipating a vote in the United Kingdom, a monetary policy decision from the European Central Bank, and a testimony connected to Donald Trumpâs ties with Russia. Polling stations across the United Kingdom will begin receiving voters tomorrowâs morning for a snap general election that … “US Dollar Drops Against Japanese Yen as Caution Spreads Between Traders”