The Australian dollar extended its decline today, falling for the third consecutive day against the euro and for the fourth versus the US dollar and the Swiss franc. The Aussie started a rally at the beginning of June, but it looks like the upward momentum has petered out. Analysts speculated that one of the probable reasons for that was the slump of prices for iron ore. The commodity is the biggest source of export revenue for Australia, therefore the falling prices have … “Australian Dollar Extends Decline Ahead of Next Week’s RBA Meeting”
Month: September 2017
British Pound Mixed Against Main Counterparts Following Mark Carney Comments
The British pound weakened against the euro on Thursday, even after positive comments from Bank of England Governor Mark Carney. Meanwhile, the UK currency rose against the US dollar following a confirmation that progress was achieved in the Brexit negotiations. Speaking at an event that celebrated the twentieth anniversary of the independence of the Bank of England, Carney said that the central bank is not omnipotent. He added that, while policymakers can work … “British Pound Mixed Against Main Counterparts Following Mark Carney Comments”
EUR/USD Rallies to New Highs Ignoring Strong US GDP Data
The EUR/USD currency pair today rallied to new highs ignoring the robust US GDP data released mid-European session, which led to a brief decline. The currency pair rallied higher in the late Asian session and the early European session after the release of positive Eurozone data. The currency rallied by over 70 points from its daily low hit during the Asian session with a minor decline that occurred after the US releases, … “EUR/USD Rallies to New Highs Ignoring Strong US GDP Data”
Japanese Yen Stable After Announcement of Snap Election
The Japanese yen was stable today despite the announcement of a snap election in October. According to reports, Prime Minister Shinzo Abe dissolved the parliament, announcing a snap election on October 22. He hopes to capitalize on rising approval rating, caused by his response to the North Korean threat. But the Party of Hope, newly created by Tokyo Governor Yuriko Koike, can pose serious challenge for Abe’s plans for securing power. USD/JPY traded at 112.72 … “Japanese Yen Stable After Announcement of Snap Election”
NZ Dollar Fails to Hold Gains After RBNZ Policy Meeting
The New Zealand dollar attempted to rally during the Asian trading session but failed to hold onto gains and is trading near the opening level as of now. The Reserve Bank of New Zealand held a policy meeting at the end of the previous trading session. As was widely expected, the central bank left its main interest rate unchanged at 1.75%. The RBNZ said in the statement that “growth is projected to maintain its current pace going … “NZ Dollar Fails to Hold Gains After RBNZ Policy Meeting”
CAD: Poloz Speech Confirms Our View Next BoC Hike Will
The Canadian dollar was beaten by Poloz. He is preoccupied with low inflation and the pace of rate hikes is set to slow down. And when will it come? Here is their view, courtesy of eFXnews: CIBC Research comments on today’s speech by BoC Governor Poloz. “In a speech to a St John’s audience, the … “CAD: Poloz Speech Confirms Our View Next BoC Hike Will”
Canadian Dollar Drops Against US Peer on Poloz Dovish Comments
The Canadian dollar dropped against its US counterpart on Wednesday in the wake of dovish comments from Bank of Canada Governor Stephen Poloz. The loonie also had broader losses against other major peers, as investors worried about the gross domestic product numbers, which are due to be released on Friday. In his first speech since the Bank of Canada raised interest rates on September 6, Poloz said that the bank has … “Canadian Dollar Drops Against US Peer on Poloz Dovish Comments”
Euro Declines Against US Dollar on Positive US Data
The euro today declined against the US dollar on the back of positive US macro data including the durable goods orders and the weak MBA mortgage applications data. The euro was weighed down by the political uncertainties in Germany even as Angela Merkel is expected to form a three-way coalition government. The EUR/USD currency pair opened today’s session on a downtrend, but declined further after the release to record a decline of over 75 points from its … “Euro Declines Against US Dollar on Positive US Data”
5 Most Predictable Currency Pairs – Q4 2017
Currency pairs differ from each other: some move slowly and others quickly. Some have better spreads on your broker’s platform and some have worse. And some seem to be more predictable than others when it comes to the charts. Most forex traders rely on technical analysis and a pair that “follows the rules” is easier … “5 Most Predictable Currency Pairs – Q4 2017”
Canadian Dollar Declines Against US Dollar on Weak Oil Prices
The USD/CAD currency pair today hit new three-week highs as the US dollar rallied against its Canadian counterpart even as global oil prices retreated from 5-month tops. The US dollar rallied into the American session disregarding the release of disappointing new home sales data and weak consumer confidence data. The USD/CAD currency pair rallied by about 40 points from its opening price to hit new three-week highs … “Canadian Dollar Declines Against US Dollar on Weak Oil Prices”