The US dollar plummeted against all other major currencies on Friday after a speech by Federal Reserve Chairwoman Janet Yellen that raised uncertainty toward near future monetary policy. Her speech also raised concerns that the Trump administration may have a hard time bring the presidentâs promises into reality. Despite high anticipation between investors for comments on US monetary policy during the Economic Policy Symposium, Yellen … “US Dollar Plummets as Janet Yellen Rejects Trump Agenda for Financial Regulations”
Month: August 2017
Canadian Dollar Rallies Against US Dollar on Janet Yellen Speech
The Canadian dollar today rallied higher against its US counterpart after Janet Yellen‘s speech at the Jackson Hole Symposium. The US dollar had earlier rallied from daily lows after the release of the durable goods orders report for the month of July. The USD/CAD currency pair declined by over 50 points after Yellen’s speech, but had slightly recovered at the time of writing. The Canadian dollar opened today’s session much stronger … “Canadian Dollar Rallies Against US Dollar on Janet Yellen Speech”
Euro Advances Against US Dollar as German Business Conditions Remain Strong
The euro advanced against the US dollar on Friday in the wake of a fresh reading for business conditions in Germany, which revealed improved expectations over the short term. The shared currency also benefited from German gross domestic product data that was released early morning today and showed numbers that matched estimates. The ifo Institute, which conducts monthly surveys to measure German business conditions, said in a report earlier today that … “Euro Advances Against US Dollar as German Business Conditions Remain Strong”
US Dollar Trades Sideways Against Euro on Positive Jobless Claims Data
The US dollar today traded sideways against the euro after the release of positive jobless claims data amid an empty European docket. The US dollar exhibited some strength against the single currency immediately after the release of the jobless claims data, but later gave up some of its gains to create a sideways trend. The EUR/USD currency pair was trading in a tight range around the 1.1800 handle for most of today’s session. The EUR/USD … “US Dollar Trades Sideways Against Euro on Positive Jobless Claims Data”
USD/CAD: Could Make Another Brief Foray Below 1.25 But
The Canadian dollar had a huge run, made a significant correction and now seems to lift its head once again. What’s next? Here is the view from CIBC: Here is their view, courtesy of eFXnews: CIBC FX Strategy Research argues that while USD/CAD could see another brief foray below 1.25, it’s unlikely to see a sustainable … “USD/CAD: Could Make Another Brief Foray Below 1.25 But”
EUR/USD: Overshoot; Technicals Point To A Tactical Retracement; Levels
EUR/USD is drifting higher, but in a relatively narrow range. Has it gone too far? Here is the view from Barclays: Here is their view, courtesy of eFXnews: Barclays Capital FX Strategy Research argues that EUR/USD has likely overshot and expects monetary policy divergence to remain an important element for a tactical retracement. Barclays also notes … “EUR/USD: Overshoot; Technicals Point To A Tactical Retracement; Levels”
British Pound Weakens Against US Dollar on Brexit Uncertainties
The British pound today weakened against the US dollar as it reacted to uncertainties related to the UK government’s stance on the Brexit negotiations. The pound was weakened further by a rally in the euro, which was triggered by positive Eurozone PMI data, and market expectations of a QE tapering announcement by the European Central Bank. The GBP/USD currency pair lost over 50 points at the height of its decline and was on a downward trend at the time of writing. The British pound’s decline … “British Pound Weakens Against US Dollar on Brexit Uncertainties”
EUR/USD Prints Fresh Highs on Positive Eurozone PMI Data
The EUR/USD currency pair today hit new highs during the late European session and into the North American session after the release of positive Markit Flash Eurozone PMI data. The pair’s rally was also attributed to the weaker US dollar, which was under intense selling pressure after Donald Trump threatened a government shutdown during a rally in Arizona. The currency pair gained over 75 points at the height of its rally … “EUR/USD Prints Fresh Highs on Positive Eurozone PMI Data”
EUR/USD and the 1.20 challenge – two views
EUR/USD is entrenched at the 1.17 handle, with 1.20 still looming above. Some say that oil prices are well-correlated to the 1.20 barrier. Here are two opinions: EUR/USD: 1.20 Remains A Realistic Short-Term Target – BTMU BTMU FX Strategy Research believes EUR/USD break and settling above 1.1714 intra-day high from 2015, which takes EUR/USD to levels … “EUR/USD and the 1.20 challenge – two views”
New Zealand Dollar Lower on Economic Forecast
The New Zealand dollar fell today after the country’s government released its budget projections for the year. The government more than doubled the estimate for budget surplus in 2016–17. Yet it reduced the outlook for growth both in 2017 and 2018. That means less money to spend for whoever wins the September election and less scope for monetary tightening from the Reserve Bank of New Zealand. NZD/USD fell from 0.7274 to 0.7231 as of 11:37 GMT today. … “New Zealand Dollar Lower on Economic Forecast”