The Australian dollar rose today, joining the other commodity currencies in the rally during holiday-thinned trade. Markets can act erratically during holidays, and today’s trading was a proof of that. There were no discernible reasons for commodity currencies to rally. In fact, quite the opposite was true as the sharp drop of crude oil prices should have dragged such currencies down. Yet that was not the case as currencies of Australia, Canada, … “Australian Dollar Joins Rally of Commodity Currencies”
Month: December 2017
Can cryptos can cause bankruptcy for brokers?
With forex volatility so low and so much excitement about bitcoin and other altcoins, quite a few forex brokers have offered trading in these new and shiny cryptocurrencies. Brokers are responding to demand and by allowing trading on digital coins, they can attract new clients. Yet these clients may not necessarily be the ones that brokers … “Can cryptos can cause bankruptcy for brokers?”
Can cryptos can cause bankruptcy for brokers?
With forex volatility so low and so much excitement about bitcoin and other altcoins, quite a few forex brokers have offered trading in these new and shiny cryptocurrencies. Brokers are responding to demand and by allowing trading on digital coins, they can attract new clients. Yet these clients may not necessarily be the ones that brokers … “Can cryptos can cause bankruptcy for brokers?”
US Dollar Ends Week Vulnerable Even as US Congress Passes Tax Reform Bill
The US dollar ended the week soft versus the majority of its most-traded rivals even though the US Congress passed the long-awaited tax reform bill. The Congress passed the bill on Wednesday after a procedural hiccup in the House on Tuesday. Yet the greenback did not welcome the news, perhaps because economists criticized the final version of the bill for being extremely beneficial to the rich, while having few benefits to the middle-class, meaning that the positive impact of the reform … “US Dollar Ends Week Vulnerable Even as US Congress Passes Tax Reform Bill”
GBP/USD Trades Sideways on Last Trading Day Before Christmas
The GBP/USD currency pair today traded mostly in a tight sideways range having rallied slightly in the early European session after the release of UK quarterly GDP data. The pair retraced some of its gains during the mid-European session, but rallied higher after the release of US personal income data for November. The GBP/USD currency pair today traded in a 40-point range capped below the crucial 1.3400 resistance level while establishing a daily … “GBP/USD Trades Sideways on Last Trading Day Before Christmas”
Canadian Dollar Rallies Against US Dollar on Canada and US Data
The Canadian dollar today rallied massively against its US counterpart after Canada’s CPI print for November was recorded at the highest level since January. The loonie’s rally against the greenback was also boosted by the release of third quarter US GDP growth data, which missed expectations. The USD/CAD currency pair lost over 100 points after the US and Canadian releases to drop from a daily high of 1.2840 to a low of 1.2719. … “Canadian Dollar Rallies Against US Dollar on Canada and US Data”
British Pound Rallies Briefly on UK Public Sector Finances Report
The British pound today rallied higher against the US dollar after the release of the UK public sector finances report for November. The pound was lagging against the greenback during the Asian session due to the recovery in US Treasury yields, which slowed down the demand for the pound. The GBP/USD currency pair rallied by over 35 points from a daily low of 1.3350 to hit a high of 1.3387 on the public finances report, but had retraced most … “British Pound Rallies Briefly on UK Public Sector Finances Report”
NZ Dollar Fails to Keep Gains Caused by Solid GDP
The New Zealand dollar edged lower today despite the GDP report released overnight that showed solid growth of the nation’s economy. The currency jumped sharply immediately after the release, but was gradually moving lower since then, and is now trading slightly below the opening level against its most-traded rivals. New Zealand gross domestic product rose 0.6% in the September quarter from the previous three months, in line … “NZ Dollar Fails to Keep Gains Caused by Solid GDP”
Yen Moves Lower After BoJ Doesn’t Mention End of Stimulus
The Japanese yen slipped today after Haruhiko Kuroda, Bank of Japan Governor, disappointed markets as he failed to mention plans to end aggressive monetary accommodation. As was widely expected, the BoJ kept its main interest rate at -0.1% and the size of annual asset purchases at ¥80 trillion. Considering the previous comments from Kuroda about dangers of keeping monetary policy extremely accommodative for a long time, market participants were expecting that … “Yen Moves Lower After BoJ Doesn’t Mention End of Stimulus”
US Dollar Doesn’t Respond Well to Good News
Today’s fundamentals looked positive for the US dollar with good housing data and the Congress voting for the final version of the tax reform bill. Yet the greenback did not respond well to the news, falling against almost all of its major rivals, with the exception of the Japanese yen. The Senate voted for the bill early Wednesday but had to sent it back to the House of Representatives, which passed it on Tuesday. It turned out that … “US Dollar Doesn’t Respond Well to Good News”