The GBP/USD currency pair today maintained the gains made during the early European session despite the release of positive US GDP data mid-European session. The currency pair had rallied to a new yearly top during the early European section before dovish comments from Bank of England Chief Economist Andrew Haldane caused the cable to briefly decline. The currency pair gained over 60 points at the height of its rally to hit a yearly … “GBP/USD Maintains Gains Despite Positive US GDP Data”
Month: June 2017
EUR/USD Heading ‘Erratically’ Towards 1.20, and EUR/JPY to 130
The euro is on an uptrend against the dollar and even more against the yen. The team at SocGen see even further gains. Here is their view, courtesy of eFXnews: Societe Generale FX Strategy Research argues that the ECB isn’t going to hike rates soon, but how fast they move to reduce the pace of bond … “EUR/USD Heading ‘Erratically’ Towards 1.20, and EUR/JPY to 130”
Euro Declines Against US Dollar Despite Positive German CPI Data
The euro today declined against the US dollar despite the release of positive German CPI data as the US dollar rallied higher. The EUR/USD currency pair decline was further exacerbated by the release of positive US GDP data mid-European session. The currency pair lost over 20 points at the height of its decline, but had retraced some of its losses at the time of writing. The EUR/USD pair rallied higher during the Asian session to hit … “Euro Declines Against US Dollar Despite Positive German CPI Data”
EUR/USD: Inflation data could start the next rally
EUR/USD extended its Draghi-driven rally and reached a peak at 1.1435. This is the highest level in over a year, above the Brexit day high. From there, the pair slipped back and is “hugging” the 1.14 level. The euro probably needs to take a breather and is undergoing some profit taking. Another Another reason is … “EUR/USD: Inflation data could start the next rally”
Euro Extends Rally Even as ECB Tries to Downplay QE Tapering Expectations
The euro rallied today even as officials from the European Central Bank tried to downplay yesterday’s comments from Mario Draghi, which markets considered to be hawkish. The currency fell against the US dollar intraday, but the drop was short-lived. The euro was unable to beat the very strong Great Britain pound. While Draghi’s speech delivered on Tuesday was largely neutral, insisting that any changes to the existing extra accommodative … “Euro Extends Rally Even as ECB Tries to Downplay QE Tapering Expectations”
Canadian Dollar Jumps as Poloz Shows Hawkish Bias
The Canadian dollar surged more than 1% against its most-traded counterparts today after the Bank of Canada chief demonstrated hawkish bias, adding to speculations that the central bank may consider an interest rate hike in the not-so-distant future. BoC Governor Stephen Poloz said in an interview to CNBC today: Well rates are of course extraordinarily low and we cut them by 50 basis points in 2015 to counteract the effects of the oil … “Canadian Dollar Jumps as Poloz Shows Hawkish Bias”
US Dollar Trades Within Tight Range Against Euro on Mixed Economic Releases
The US dollar edged slightly lower against the euro on Wednesday, as fresh economic data in the United States painted a mixed image of the economy a single day ahead of gross domestic product data. An index of the US dollarâs strength against a basket of major currencies posted a bigger loss today amid broader declines versus the British pound and the Canadian dollar. Todayâs first important economic release briefly supported the US dollar higher. The US … “US Dollar Trades Within Tight Range Against Euro on Mixed Economic Releases”
EUR: Breaks Key Technical Levels; What’s Next? – TD
EUR/USD rallied on Draghi’s optimism and only temporarily dipped when the ECB tried to play it down. Trading closer to 1.14, what levels should we look out for? Here is their view, courtesy of eFXnews: TD Research notes that the EUR has seen a significant rally over the past day and this reflects Draghi’s comments … “EUR: Breaks Key Technical Levels; What’s Next? – TD”
British Pound Climbs as Carney Says Bank of England May Discuss Higher Rates Soon
The British pound surged against most of its major peers on Wednesday, reaching the highest level against the US dollar since June 8. The British currency rose following bullish comments from Bank of England Governor Mark Carney this afternoon, which took the market by surprise. The Governor of the Bank of England said at a European Central Bank conference in Portugal that the coming months will likely see discussions within the central bank … “British Pound Climbs as Carney Says Bank of England May Discuss Higher Rates Soon”
EUR/USD: Draghi, Low Volatility, & Calm Market Behind ‘Outsized’
Draghi sent the euro up. And then some ECB sources downplayed Draghi. What’s next? Here is the view from BTMU: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the most common question fielded yesterday was whether the comments from ECB President Draghi were consistent with a 1.2% surge in EUR/USD. … “EUR/USD: Draghi, Low Volatility, & Calm Market Behind ‘Outsized’”