The Swiss franc fell against the US dollar today due to positive macroeconomic data from the United States and the improving market sentiment. Switzerland’s own economic indicators were not helping the currency either. While markets were rattled at the beginning of the week by a missile launch from North Korea, fears subsided as the situation did not escalate, at least for now. As for Swiss macroeconomic data, the UBS consumption indicator rose from 1.30 to 1.38 … “USD/CHF Rises Because of Economic Data, Improving Sentiment”
Month: August 2017
What Is Draghi’s EUR Pain Threshold? – Credit Agricole
The ECB convenes in around one week. Will the ECB announce QE? A lot depends on the exchange rate. The team at Credit Agricole discusses the “pain threshold”. Here is their view, courtesy of eFXnews: Credit Agricole CIB FX Strategy Research notes that after months of waiting we have reached what could be described as … “What Is Draghi’s EUR Pain Threshold? – Credit Agricole”
USD/JPY: A Breakdown Below Weekly Ichimoku Cloud Key; Levels
USD/JPY is edging lower, dancing above the 108.10 level after North Korea fired a missile over Japan. The team at Bank of America Merrill Lynch examines the weekly Ichimoku cloud and lists the next levels to watch out for. Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research notes … “USD/JPY: A Breakdown Below Weekly Ichimoku Cloud Key; Levels”
Pound Gains on Dollar, Remains Weak Against Other Majors
The Great Britain pound rose against the US dollar during Tuesday’s trading but fell against other currencies, including the euro. The sterling’s gains versus the greenback were the result of the US currency’s weakness after the missile launch by North Korea. Fundamentals were not particularly supportive to the UK currency itself, with the Brexit remaining a large question mark. Economic data was not especially good either as the Nationwide House Price … “Pound Gains on Dollar, Remains Weak Against Other Majors”
Traders Seek Safety After North Korea Fires Missile Over Japan
Forex traders were seeking safe options during the current trading session after North Korea fired a ballistic missile over Japan. Safe currencies like the Swiss franc and the Japanese yen profited as a result. North Korea launched an unidentified ballistic missile today, which fell in the Pacific Ocean after flying over Japan. Japanese Prime Minister Shinzo Abe stated after the event: A missile passing over Japan is … “Traders Seek Safety After North Korea Fires Missile Over Japan”
Sterling Remains Vulnerable to Brexit Uncertainty
The Great Britain pound fell against the US dollar intraday but has recovered by now. The sterling was more soft against other currencies, driven down by the Brexit uncertainties. Another round of negotiations between the United Kingdom and the European Union will happen this week. While the UK government showed signs of softer stance, it is likely that the discussion will be as tough as the previous ones. That sapped the sterling’s … “Sterling Remains Vulnerable to Brexit Uncertainty”
EUR/USD Hits New Two-Year Highs on Weak US Dollar
The EUR/USD currency pair today hit a 31-month high during the North American session after the release of disappointing US advance goods trade balance data. The currency pair’s rally started on Friday after Janet Yellen‘s and Mario Draghi‘s speeches at the Jackson Hole symposium, which triggered the euro’s rally against the greenback. The currency pair opened today’s session with a sudden decline from highs set during the Asian session, but … “EUR/USD Hits New Two-Year Highs on Weak US Dollar”
PBoC Sets Daily Fixing for Yuan Higher
The Chinese yuan rose against the US dollar today as China’s central bank allowed its currency to appreciate to the strongest level in more than a year. The People’s Bank of China set the midpoint for the currency at 6.6353 per dollar, the highest level since August 19, 2016. The yuan is allowed to trade 2% above or below the reference rate. It resulted in a good performance of the yuan, though other Asian currencies were strong versus … “PBoC Sets Daily Fixing for Yuan Higher”
Japanese Yen Rises Versus Euro in Monday’s Quiet Trading
The Japanese yen rose against some major currencies, including the euro and the Great Britain pound, today. The gains were limited, though, and the yen was largely flat against other majors and even fell a bit against commodity currencies. Traders were rather disappointed by the last week’s Jackson Hole Symposium as neither Federal Reserve Chairwoman Janet Yellen, nor European Central Bank President Mario Draghi talked about monetary … “Japanese Yen Rises Versus Euro in Monday’s Quiet Trading”
US Dollar Ends Week Vulnerable amid Political Concerns
The US dollar ended the week with significant losses versus the euro amid concerns about the turbulent political climate of the United States. The Jackson Hole Symposium in Wyoming was in the traders’ focus this week. Yet US President Donald Trump grabbed the markets’ attention by his threats of a government shutdown, which affected the dollar negatively. The meeting itself was not positive for the US currency either as Federal Reserve Chairwoman Janet Yellen … “US Dollar Ends Week Vulnerable amid Political Concerns”