The Swedish krona was stable during the early Wednesday’s session after falling during the Tuesday’s session. The drop was caused by somewhat dovish policy statement from Sweden’s central bank. The Riksbank kept its benchmark interest rate at -0.5% at the Tuesday’s meeting. The central bank signaled that an interest rate hike is unlikely in about a year: The first rate increase is not expected to be made until the middle of 2018, … “Swedish Krona Stable After Drop on Riksbank Statement”
Month: July 2017
Japanese Yen Gains After North Korea Performs Another Missile Test
The Japanese yen rallied against its major peers today after North Korea performed yet another missile launch test. It looks like markets have calmed by now as the currency trimmed its gains. North Korea claimed that is has performed its first successful test of an intercontinental ballistic missile. The news caused concerns among the country’s neighbors and even led to speculations that North Korea may … “Japanese Yen Gains After North Korea Performs Another Missile Test”
Aussie Drops After RBA Statement, Ignores Strong Retail Sales
The Australian dollar fell against its most-traded counterparts after the Reserve Bank of Australia released its monetary policy statement today. Better-than-expected retail sales data was unable to help the currency. The RBA kept its key interest rate at 1.5% at today’s policy meeting. While such decision was widely expected by market participants, they were disappointed that Australia’s central bank did not join other central … “Aussie Drops After RBA Statement, Ignores Strong Retail Sales”
GBP: Bringing Forward Our BoE Rate Hike Call To Nov
The British pound enjoyed Carney’s positive comments and advanced. Is he really up for a rate hike? Here is the view from BTMU: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research has brought forward the timing of the first MPC rate increase from Feb 2018 to Nov 2017. From an FX perspective, BTMU short-term metrics … “GBP: Bringing Forward Our BoE Rate Hike Call To Nov”
GBP/USD Declines After UK Manufacturing PMI Misses Expectations
The Great Britain pound was falling against the US dollar during the current trading session and accelerated its decline after a private report showed slowing growth of Britain’s manufacturing sector. The sterling was flat against such rivals as the euro and the Swiss franc and managed to rally against the Japanese yen. The IHS Markit/CIPS UK Manufacturing PMI dipped from 56.3 in May to 54.3 in June. That was a complete surprise to analysts as they … “GBP/USD Declines After UK Manufacturing PMI Misses Expectations”
Euro Weakens Against US Dollar on Mixed US and Eurozone Data
The EUR/USD currency pair was on a downward trend for most of today’s session as investors shift their buying focus from the euro to the US dollar. The release of the US ISM manufacturing data for June also pushed the currency pair lower as it exceeded market expectations, which supported the US dollar’s rally. The currency pair lost over 50 points at the height of its decline as the greenback rallied against the single currency. Today’s session marked … “Euro Weakens Against US Dollar on Mixed US and Eurozone Data”
Australian Dollar Unable to Keep Gains Caused by China’s PMI
A private report released today showed that China’s manufacturing sector switched to growth. The Australian dollar attempted to rally with the help from the good news from Australia’s biggest trading partner. Yet the currency lost its gains versus its most-traded rivals (with the exception of the soft Japanese yen) as the report was not as good as it looked at first glance. The Caixin China General Manufacturing PMI climbed from 49.6 … “Australian Dollar Unable to Keep Gains Caused by China’s PMI”
Japanese Yen Fails to Capitalize on Upbeat Tankan Survey
The Tankan survey released today showed that business conditions for Japan’s large enterprises improved in both manufacturing and non-manufacturing sectors last quarter. Yet the Japanese yen failed to capitalize on the favorable data. The Tankan Large Manufacturers Index climbed from 12 in the March quarter to 17 in the June quarter, exceeding the median forecast of 15. The Tankan Large Non-Manufacturing Index rose from 20 to 23, though it was a bit below the average … “Japanese Yen Fails to Capitalize on Upbeat Tankan Survey”