The Great Britain pound was vulnerable today amid the cautious market sentiment, persisting uncertainty surrounding the Brexit, and poor economic data. Last week’s negotiations between the United Kingdom and the European Union did not show signs of progress towards compromise. This week, speculators turned their attentions towards debates about the Repeal bill in Britain’s Parliament that should outline laws and regulations in the independent country replacing the EU laws. … “Pound Remains Vulnerable to Adverse Fundamentals”
Month: September 2017
Aussie Opens Sharply Lower amid Risk Aversion, Poor Data
The Australian dollar, like other currencies considered to be relatively risky, opened sharply lower today amid the risk-adverse market sentiment. Poor domestic macroeconomic data did not help the currency either. Australian company gross operating profits fell 4.5% in the June quarter from the previous three months on a seasonally adjusted basis, exceeding the drop by 3.9% predicted by analysts. What is more, the first quarter’s increase was revised … “Aussie Opens Sharply Lower amid Risk Aversion, Poor Data”
Safe Assets Gain as North Korea in Spotlight Yet Again
Safe haven assets, like the Japanese yen, Swiss franc, and gold, started the week sharply higher as markets opened and reacted to the news that North Korea conducted yet another nuclear test on Sunday. North Korea claimed it performed a successful test of a powerful hydrogen bomb, and the 6.3 magnitude tremor (Richter scale) registered in the region supported that claim. It is interesting that the Japanese yen retained its safe … “Safe Assets Gain as North Korea in Spotlight Yet Again”
Are Cryptos Ready for their Coming of Age into
Cryptocurrencies (aka Cryptos) are quickly turning into a global phenomenon. While the concept is still fairly new to most people, crypto exchanges are becoming hugely popular, all with their hard-to-resist offerings. However enticing, it is still difficult to know how crypto exchanges are defined and treated by regulators. Is cryptocurrency a currency or a piece … “Are Cryptos Ready for their Coming of Age into”
Are Cryptos Ready for their Coming of Age into
Cryptocurrencies (aka Cryptos) are quickly turning into a global phenomenon. While the concept is still fairly new to most people, crypto exchanges are becoming hugely popular, all with their hard-to-resist offerings. However enticing, it is still difficult to know how crypto exchanges are defined and treated by regulators. Is cryptocurrency a currency or a piece … “Are Cryptos Ready for their Coming of Age into”
USD: No Hint Of Inflation In Aug Payrolls; Dec Rate
The US gained only 156K non-farm jobs in August, weaker than expected. Moreover, wages advanced by only 2.5% y/y, not going anywhere fast. The team at CIBC looks forward to the next events. CIBC Strategy Research comments on today’s US August jobs report: “One of these days, all that US job creation is going to spill … “USD: No Hint Of Inflation In Aug Payrolls; Dec Rate”
US Dollar Ends Week Mixed in Face of Adverse Fundamentals
The US dollar ended the week mixed, but that was not a bad result considering that fundamentals were stacked up against the currency. The increasing tensions between North Korea and the United States were weighing on the US currency during the first half of the week, though the impact weakened later. The damage done by Hurricane Harvey was another substantial, and perhaps longer-term, factor that was hurting the dollar. And another blow came … “US Dollar Ends Week Mixed in Face of Adverse Fundamentals”
CAD Logs Massive Gains, Touches Highest Since 2015 vs. USD
The Canadian dollar surged against its US counterpart today, touching the highest level since June 2015. The currency also posted massive gains versus other majors, seemingly without any apparent reason. The gains versus the greenback could be easily explained by the lackluster US employment data. The rally versus other rivals is harder to understand, especially as prices for crude oil, Canada’s major export, dropped. The possible reason … “CAD Logs Massive Gains, Touches Highest Since 2015 vs. USD”
US Shrugs Off Impact of Disappointing Nonfarm Payrolls
The US dollar dipped after the released of worse-than-expected nonfarm payrolls but reversed its losses quickly, bouncing against the euro. The greenback also gained on some other most-traded rivals, though not all of them. The employment report demonstrated slower-than-expected growth in August, which were surprising considering that the private data released earlier this week surprised to the upside. Moreover, the previous month’s increase was revised lower. Some analysts … “US Shrugs Off Impact of Disappointing Nonfarm Payrolls”
EUR/USD Rallies Higher Briefly on Disappointing NFP Report, Tumbles Later
The EUR/USD currency pair today rallied higher briefly after the release of disappointing US non-farm payroll data during the American session, but quickly retraced all its gains. The currency pair’s rapid tumble was triggered by a Bloomberg report indicating that the European Central Bank was advocating for prudent policies in the face of the strong euro. The currency pair rallied to new daily tops, but quickly retraced all its gains … “EUR/USD Rallies Higher Briefly on Disappointing NFP Report, Tumbles Later”