EUR/USD was already on the way down, but it somehow recovered. The range is friendly to the pair. What’s next? Here is their view, courtesy of eFXnews: Danske Bank FX Strategy Research still looking for a final dip lower in EUR/USD over the Summer arguing that the slowdown in US and China should spills over to the eurozone … “EUR/USD: In A Range But Still Looking For A Final”
Month: June 2017
Hawkish Monetary Policy Outlook Doesn’t Help Sterling
The outlook for monetary policies of central banks around the world were one of the main driving factors for the Forex market this week. But while the outlook for Bank of England monetary policy became more hawkish, it was not enough to support the Great Britain pound. Several BoE members made hawkish remarks over the week, leading to speculations that the central bank is going to raise interest rates in the foreseeable future. Yet … “Hawkish Monetary Policy Outlook Doesn’t Help Sterling”
Pound Rises on Interest Rate Hike Speculations
The Great Britain pound rose today as hawkish comments from policy makers led to speculations about interest rate hikes from the Bank of England in the foreseeable future. Kristin Forbes, voting BoE member who will leave the Monetary Policy Committee at the end of this month, said in yesterday’s speech: The âlift-offâ of UK interest rates should not be delayed any longer. The day before, BoE Chief Economist … “Pound Rises on Interest Rate Hike Speculations”
US Dollar Flounders as PMI Readings Fall Short of Estimate
The US dollar tumbled against major rivals on Friday following the release of lackluster manufacturing activity data and weak new home sales. Tradersâ appetite for the greenback was also affected by anticipation for speeches of Federal Reserve officials today and US inflation data next week. A fresh reading for the IHS Markit manufacturing purchasing managersâ index revealed a drop to 52.1 in June from 52.7 in May, which missed analyst estimates of a reading at 53.0. … “US Dollar Flounders as PMI Readings Fall Short of Estimate”
Canadian Dollar Weakens Against US Counterpart on Weak Inflation Data
The Canadian dollar today weakened against the US dollar after the release of disappointing Canadian inflation data by Statistics Canada. The Consumer Price Index report for the month of May disappointed both on a monthly basis and also on an annualized basis. The USD/CAD currency pair rallied by close to 100 points from its daily low after the release of the inflation report to hit a daily high of 1.3307. The currency pair has since retraced some of its gains. … “Canadian Dollar Weakens Against US Counterpart on Weak Inflation Data”
Euro Stable After Release of European PMIs
The euro was stable today after the release of Purchasing Managers’ Indexes from Markit Economics. Markit released manufacturing and services PMIs for Germany, France, and the whole eurozone today. For the most part, the manufacturing indexes beat expectations, while the services indexes trailed expectations. It is important to note that all indicators were above the neutral 50.0 level, indicating an expansion. EUR/USD rose from 1.1151 to 1.1166 as of 10:51 GMT today, … “Euro Stable After Release of European PMIs”
Yen Little Changed After Manufacturing Misses Expectations
The Japanese yen was little changed today after a report from Markit showed that growth of Japan’s manufacturing sector slowed unexpectedly this month. Flash Nikkei Flash Japan Manufacturing PMI fell from 53.1 in May to 52.0 in June. Economists predicted an increase to 53.4. Markit said in the report: Slower growth was signalled in June, with both orders and output rising at the weakest rates … “Yen Little Changed After Manufacturing Misses Expectations”
AUD: Domestic Vs External Drivers: Where To Target? –
The rise of the Australian dollar seemed to have reached its limit. What’s next? Here is their view, courtesy of eFXnews: Barclays Capital Research sees a broadly flat to mild downward trend in AUD/USD over the second half of the year, but expects the AUD to underperform other major currencies such as the NZD. “Although improving domestic fundamentals … “AUD: Domestic Vs External Drivers: Where To Target? –”
Norwegian Krone Rises After Central Bank’s Meeting, Crude Oil Rally
The Norwegian krone rose against the US dollar today after the nation’s central bank basically ruled out the possibility of an interest rate cut. The gains of crude oil also helped the currency. The Norges Bank kept its benchmark interest rate unchanged at 0.5% at today’s policy meeting. The central bank said that inflation was lower than expected but should rebound later. As for interest rates, bank’s Governor Ãystein Olsen … “Norwegian Krone Rises After Central Bank’s Meeting, Crude Oil Rally”
Dollar Index Unchanged as Fundamentals Muddy
The US dollar was little changed today as US economic reports did not give the currency an edge and market participants were unsure whether the Federal Reserve will be able to carry on with its plan for three interest rate hikes in 2017. The Dollar Index was at 97.539 today, basically flat. US economic data released over the trading session was mixed. Unemployment claims rose a bit last week … “Dollar Index Unchanged as Fundamentals Muddy”