The US dollar ended the week firm, rising against most of its major peers. What is more, September was a good month for the greenback overall as it gained against most of its major peers. The major contributors to the dollar’s strength were hopes for a tax reform from US President Donald Trump and an interest rate hike from the Federal Reserve. Other safe currencies, namely the Japanese yen and the Swiss franc, were … “Dollar Ends Week & Month on Strong Footing”
Month: September 2017
USD/JPY: There Is A Pattern For Price Action When Snap
Japanese PM Shinzo Abe called a snap election in Japan. This is not the first time and the team at BTMU seems a pattern. Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that USD/JPY tends to rise when snap elections are called, correlated to the Nikkei stock price index. “Seasonal JPY repatriation … “USD/JPY: There Is A Pattern For Price Action When Snap”
US Dollar Higher Against Most Rivals
The US dollar rose against most of its major rivals (though not all of them) today even as mixed macroeconomic reports did not lend much support to the currency. One of the major supporting factor for the dollar remains the outlook for monetary tightening from the Federal Reserve. Earlier this week, Fed Chairperson Janet Yellen signaled that the US central bank is going to proceed with removing monetary easing: … “US Dollar Higher Against Most Rivals”
British Pound Erases Earlier Losses After Hawkish BoE Remarks
The British pound erased some of the losses it had against the euro and the US dollar in the wake of disappointing economic growth data on Friday. The UK currency was supported by hawkish comments that were made by policymakers from the Bank of England during a conference earlier today. In a report that was published today, the UK Office for National Statistics stated that the nationâs gross domestic product increased 1.5% in the second quarter of 2017 from … “British Pound Erases Earlier Losses After Hawkish BoE Remarks”
Canadian Dollar Declines Against US Dollar on Weak GDP Data
The Canadian dollar today weakened against its US counterpart after the release of weak Canadian GDP data by Statistics Canada. Several releases from the US docket such as the personal income data for August also served to boost the US dollar against its Canadian counterpart. The USD/CAD currency pair today rallied by about 85 points from its daily low hit during the mid-European session before the releases. The Canadian dollar … “Canadian Dollar Declines Against US Dollar on Weak GDP Data”
Euro Rallies Against US Dollar on Weak PCE Data
The euro today gained ground against the US dollar after the release of weak US Personal Consumption Expenditure data early in the North American session. The EUR/USD currency pair had rallied higher during the early European session despite the release of the flash Eurozone CPI estimate by Eurostat, which missed expectations. The currency pair rallied by over 60 points to hit new daily highs after the release of the PCE data. The EUR/USD pair … “Euro Rallies Against US Dollar on Weak PCE Data”
Swiss Franc Gets Boost from Positive Outlook for Economy
The Swiss franc gained on its rivals, though not on the euro, thanks to data that revealed a favorable outlook for the Swiss economy. The KOF Economic Barometer rose from 104.2 to 105.8 in September, exceeding the median forecast. The report commented on the result: This indicates that the outlook remains favourable — the Swiss economy should continue to grow at above average rates in the near future. The manufacturing sector was the biggest contributor to the improving outlook. USD/CHF … “Swiss Franc Gets Boost from Positive Outlook for Economy”
Japanese Yen Shows No Trend After Slew of Economic Reports
A range of macroeconomic reports were released in Japan today. Most of them were within expectations, giving no edge to the nation’s currency. Therefore, the Japanese yen showed no discernible trend during the current trading session, rising against some rivals and falling versus others. Japan’s core Consumer Price Index demonstrated an annual growth of 0.7% in August, while the Tokyo core CPI rose 0.5% in September from a year ago. … “Japanese Yen Shows No Trend After Slew of Economic Reports”
EURUSD and AUDUSD Looking Bullish
Today I am looking at two currency pairs- EURUSD and AUDUSD. Why did they get my attention? Let’s start by first looking at the EURUSD. EURUSD Analysis Above is the Daily chart of EURUSD. First, I am looking at the EURUSD daily chart. It looks more bullish than bearish. There is a major support level … “EURUSD and AUDUSD Looking Bullish”
Canadian Dollar Recovers After Wednesday’s Steep Decline
The Canadian dollar recovered today following yesterday’s steep decline, though the currency was still heading to weekly losses against most of its majors. Yesterday, Bank of Canada Governor Stephen Poloz delivered a speech about future monetary policy. He sounded rather cautious, and analysts considered the cautiousness to be a sign that the central bank is not going to continue raising interest rates in the foreseeable future. That strongly hurt … “Canadian Dollar Recovers After Wednesday’s Steep Decline”