The EUR/USD currency pair today slumped to new lows from daily highs set in the late Asian session, despite a raft of positive data from the Eurozone. The release of upbeat German factory orders for the month of October in the early European session could not lift the single currency. The EUR/USD currency pair declined from its daily high set in the Asian session of 1.1848 to hit a low of 1.1800 and was on a downtrend at the time of writing. The currency … “EUR/USD Slumps to New Lows on Mixed Eurozone and ADP Data”
Month: December 2017
Fed Chair nominee Powell signals policy continuity
The Fed chair nominee, Jerome Powell’s confirmation hearings began last week. Powell, currently the governor of the FOMC said that he preferred the current Fed’s policy of normalizing interest rates. Although Powell did not explicitly commit on the December rate hike, the potential chairman of the Federal Reserve hinted that the odds for rate hikes … “Fed Chair nominee Powell signals policy continuity”
Pound Slides as Concerns About Brexit Negotiations Grow
The Great Britain pound slumped today amid concerns about obstacles in the Brexit negotiations between the United Kingdom and the European Union. The sterling was vulnerable after talks between British Prime Minister Theresa May and European Commission President Jean-Claude Juncker fell apart yesterday, though some analysts explained today’s drop also by profit-taking after the recent rally. While investors generally count on at least some form of a deal, Brexit … “Pound Slides as Concerns About Brexit Negotiations Grow”
Australian GDP Misses Expectations, Aussie Moves Lower
The Australian dropped during the current trading session as Australia’s economic growth missed expectations. Gross domestic product rose 0.6% in the September quarter of 2017 from the previous three months on a seasonally adjusted basis. The increase was a bit below the median forecast of 0.7% and the previous quarter’s revised growth of 0.9%. With that said, the reading was still rather solid, making losses of the Australian dollar limited against most currencies. AUD/USD … “Australian GDP Misses Expectations, Aussie Moves Lower”
GBP: Fading Extreme Brexit Optimism; What’s The Trade? – Barclays
The pound could not break high resistance and dropped to lower ground on Monday’s failure to reach a Brexit breakthrough. The What’s next? Here is the view from Barclays. Here is their view, courtesy of eFXnews: Barclays Capital FX Strategy Research discusses GBP outlook in the near-term, and thinks that investors should consider fading the current … “GBP: Fading Extreme Brexit Optimism; What’s The Trade? – Barclays”
AUD: 2 Key Drivers To Continue Undermining AUD; What’s The Trade? – Nomura
The Australian dollar enjoyed positive news out of the land down under and advanced quite nicely. But it can return to the downside as well, especially if GDP disappoints. Here is the view from Nomura: Here is their view, courtesy of eFXnews: Nomura FX Strategy Research discusses AUD outlook into year-end and thinks that the relative AUD … “AUD: 2 Key Drivers To Continue Undermining AUD; What’s The Trade? – Nomura”
Canadian Dollar Fails to Rally, Erases Gains vs. Greenback
The Canadian dollar attempted to rally today but failed and has trimmed its gains by now. Against the US dollar, the loonie erased gains outright as the greenback was too strong during the current trading session. Canada’s trade balance deficit shrank to C$1.5 billion in October from C$3.4 billion in September. That was a smaller gap than the forecast C$2.3 billion. Yet the loonie could not outperform the greenback, which was … “Canadian Dollar Fails to Rally, Erases Gains vs. Greenback”
Euro Fails to Sustain Brief Rally Despite Solid Services PMI Data
The euro today failed to sustain its brief rally against the US dollar despite the release of solid Markit Services PMI data from across the Eurozone. The release of the Markit Eurozone Services PMI in the early European session was responsible for the EUR/USD’s brief rally. The EUR/USD currency pair rallied by over 30 points from a low of 1.1840 before the PMI releases to an intra-day high of 1.1873. The pair had retraced most of its gains … “Euro Fails to Sustain Brief Rally Despite Solid Services PMI Data”
Australian Dollar Rallies on Economic Data, RBA Statement
The Australian dollar rallied today following good economic reports from Australia and its main trading partner, China. The statement released by the Reserve Bank of Australia following the policy meeting was also relatively helpful to the currency. The RBA kept its main interest rate at 1.5%, providing no surprise. The accompanying statement was almost the same as the previous ones for the most part, but it was interesting to see that the bank dropped … “Australian Dollar Rallies on Economic Data, RBA Statement”
Sterling Slides as Brexit Talks Encounter Another Roadblock
The Great Britain pound dropped today after the Brexit talks planned for yesterday failed to yield a result, collapsing at the last minute. The fact that growth of Britain’s services sector slowed more than was expected did not help the currency either. Hopes were high yesterday for the meeting between British Prime Minister Theresa Mayâs lunch and European Commission President Jean-Claude Juncker. Yet May had to cancel the talks after … “Sterling Slides as Brexit Talks Encounter Another Roadblock”