The US dollar climbed to the highest level since May 30 against the euro on Tuesday following a stream of hawkish comments from US Federal Reserve officials yesterday and today. Two members of the Federal Open Market Committee offered an improved outlook for tighter monetary policy in the United States earlier today, while a third member is expected to speak later in the day. Federal Reserve Vice Chairman Stanley Fischer, who contributes to US … “US Dollar Rises Against Euro on Hawkish Comments from Federal Reserve Officials”
Month: June 2017
AUD: RBA Remains Upbeat; What’s Next? – BTMU
The Australian dollar enjoyed the RBA’s upbeat message of late, as well as good economic data. However, also the Fed was hawkish. What’s next? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the minutes from the June RBA monetary policy meeting released this week revealed an upbeat central bank that … “AUD: RBA Remains Upbeat; What’s Next? – BTMU”
GBP/USD Tumbles to New Lows After Dovish Comments from Mark Carney
The GBP/USD currency pair today tumbled to new lows last witnessed in April due to dovish comments from Bank of England Governor, Mark Carney. The currency pair hit the new lows during the North American session after hawkish comments from FOMC members such as Eric Rosengren. The currency pair hit a low of 1.2610 during the early North American session; a figure that was last recorded on April 18 this … “GBP/USD Tumbles to New Lows After Dovish Comments from Mark Carney”
Swiss Franc Rallies After Speech of SNB Chief
The Swiss franc rose today after the speech of the central bank’s chief even as some economic forecasts for Switzerland were revised down. Thomas Jordan, Chairman of the Swiss National Bank, said today: All the discussion about the exit — we know it will be difficult, it will maybe be a bumpy road — but it is also positive that we are at the point where we … “Swiss Franc Rallies After Speech of SNB Chief”
Australian Dollar Near Opening After Failing to Maintain Rally
The Australian dollar started the current trading session rising but reversed its movement at about 12:00 GMT and is trading near the opening levels as of now. The Reserve Bank of Australia released minutes of its latest policy meeting today. While the policy makers were somewhat worried about the housing market, the minutes mostly echoed the optimistic view expressed by RBA Governor Phillip Lowe in yesterday’s speech. Talking about the housing market, … “Australian Dollar Near Opening After Failing to Maintain Rally”
GBP: Further Downside Near-Term; What’s The Trade? – BofAML
Brexit talks have begun with the UK caving into the EU demand that talks begin around the divorce agreement, then about a new trade deal. What´s next for the pound? Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research notes that GBP has been unable to maintain its initial gains after … “GBP: Further Downside Near-Term; What’s The Trade? – BofAML”
British Pound Retreats Against Major Counterparts as Brexit Talks Start
The British pound declined against most of other major currencies on Monday to begin the week on a negative note following the commencement of the Brexit negotiations. The British currency came under more pressure versus the US dollar after a Federal Reserve official offered a hawkish outlook for US interest rates. Secretary of State for Exiting the European Union David Davis met European Chief Negotiator for Brexit Michel Barnier in Brussels, Belgium today to start the formal … “British Pound Retreats Against Major Counterparts as Brexit Talks Start”
CAD: Bringing Forward Our BoC Hike Call To Q4; Where
The hawkish tone from Wilkins and then from Poloz pushed the Canadian dollar higher. Will this hawkishness translate into a hike? Here is their view, courtesy of eFXnews: CIBC FX Strategy Research notes that CAD was lent support last week from a sudden change in tune by the Bank of Canada, as Senior Deputy Governor … “CAD: Bringing Forward Our BoC Hike Call To Q4; Where”
US Dollar Gains Against Euro After Upbeat Comments from Fed’s Dudley
The EUR/USD today hit new lows after upbeat comments from the New York Fed’s William Dudley during the North American session reignited buying interest in the US dollar. The currency pair was consolidating in a tight trading range for most of today’s session, but Dudley’s comments caused the US dollar to gain against the euro. Dudley’s comments caused the currency pair to break out of its tight range and lose over 40 … “US Dollar Gains Against Euro After Upbeat Comments from Fed’s Dudley”
Australian Dollar Mixed After Lowe’s Speech and Moody’s Downgrade
The Australian dollar was mixed after the speech of Phillip Lowe, Reserve Bank of Australia Governor, and as Moody’s Investors Service downgraded credit ratings of several Australian Banks. The Aussie fell against such majors like the US dollar and the Swiss franc, but was flat versus the euro and gained on the weak yen. Lowe mentioned some negative factors in his speech, saying that “growth in wages is unusually low.” Yet overall, … “Australian Dollar Mixed After Lowe’s Speech and Moody’s Downgrade”