The Great Britain pound continued to drop today, extending the Friday’s decline, as traders remained cautious ahead of the busy week. Market participants became a bit more optimistic about the sterling after the Brexit deal between Britain and the European Union. This trading week should be important for the currency as it will be full with events such as major economic releases and the Bank of England policy meeting. Monday was light on economic … “Pound Continues to Move Lower Ahead of Busy Week”
Month: December 2017
Why are nations choosing to digitize their fiat currencies?
Australia, which is home to one of the most popular currencies traded, is already knee deep in their assessment towards digitizing their own cryptocurrency. Whilst smaller countries like Estonia and Lebanon have already decided to create their own cryptocurrency, a digital Australian currency would have a significant impact on the current cryptocurrency landscape. Unimaginatively titled … “Why are nations choosing to digitize their fiat currencies?”
US Dollar Strong During Week, Ends Trading Soft Due to NFP
The US dollar was strong during the past trading week thanks to the outlook for the US tax reform. The currency lost its upward momentum on Friday, though, following the release of nonfarm payrolls. The greenback started the week opening sharply higher as the US Senate passed its version of the tax reform bill on the weekend. The theme of probable tax cuts dominated the week, supporting the dollar. Yet the currency lost some of its shine on the last trading … “US Dollar Strong During Week, Ends Trading Soft Due to NFP”
USD: 3 Reasons For Not Calling The Start Of Another Bull Cycle In 2018 – ING
The US dollar has gained quite a bit of ground in recent weeks. Can it continue into 2018? The team at ING has some doubts. Here is their view, courtesy of eFXnews: ING FX Strategy Research discusses the USD outlook into the coming year and makes a case for not calling for the start of another USD … “USD: 3 Reasons For Not Calling The Start Of Another Bull Cycle In 2018 – ING”
British Pound Hits New Lows on Brexit Deal and Positive NFP Data
The British pound today hit news lows despite news of a Brexit deal between the EU and the UK allowing for trade talks to begin. The pound headed much lower after the release of positive US non-farm payrolls data in the early American session. The GBP/USD currency pair declined by about 120 points from a daily high of 1.3520 to hit a low of 1.3399 after the release of the NFP data. The news of the Brexit deal between the EU and UK … “British Pound Hits New Lows on Brexit Deal and Positive NFP Data”
NZ Dollar Gains Even as Manufacturing Sales Slow
The New Zealand dollar gained today despite slowing growth of manufacturing sales. Manufacturing sales grew 0.5% in the September quarter from the previous three months. That is slower than the growth of 3.4% in the June quarter, which itself was revised down from 3.9%. Yet the kiwi did not fall after the report, probably due to the good economic data from China, New Zealand’s major trading partner. NZD/USD … “NZ Dollar Gains Even as Manufacturing Sales Slow”
Australian Dollar Firm After Domestic & Chinese Economic Reports
The Australian dollar was flat against its US counterpart but rallied versus other majors after positive macroeconomic data, both domestic and China’s. The number of home loans registered in Australia fell by 0.6% in October from September. Still, it was a far better reading than the predicted drop by 2.2% and September’s declined by 2.5%. China’s trade surplus widened from $38.2 billion in October to $40.2 billion in November, above … “Australian Dollar Firm After Domestic & Chinese Economic Reports”
GBPUSD- is the bottom already here?
Looking at the GBPUSD currency pair, there is definitely a possible reversal from the current levels. Since the 30th of November, it has been steadily declining. The level of 1.3350 was the first major support level and it looks like market participants are really reacting to it with a pinch of bullish enthusiasm. By looking … “GBPUSD- is the bottom already here?”
Euro Struggles to Rally Higher Despite Strong Eurozone GDP Data
The euro today struggled to rally against the US dollar despite the release of robust Eurozone GDP growth data for Q3 2017 in the early European session. The EUR/USD currency pair was weighed down by the higher demand for the US dollar among market participants, which drove the pair lower. The EUR/USD currency pair was trading in a 30-point range for most of today’s session having hit a daily high of 1.1806 in the Asian session and a low of 1.1774 … “Euro Struggles to Rally Higher Despite Strong Eurozone GDP Data”
USD/CAD Rallies Higher on BoC Rate Decision
The USD/CAD rallied higher by over 100 points after the Bank of Canada released its monetary statement leaving interest rates unchanged at 1.00%. The US dollar rallied against the commodity-linked loonie even as global oil prices traded at daily lows. The USD/CAD currency pair rallied by over 130 points from a daily low of 1.2649 to hit a high of 1.2787 after the BoC statement and was on an uptrend at the time of writing. The currency pair had … “USD/CAD Rallies Higher on BoC Rate Decision”