The Great Britain rallied today amid signs that Britain and the European Union continued to make progress in their Brexit negotiations. Hopes were high today as British Prime Minister Theresa May was going to lunch with European Commission President Jean-Claude Juncker. In particular, markets welcomed reports that a preliminary agreement about Irish border was reached, though there were no details or an official confirmation. Meanwhile, the IHS … “Great Britain Pound Propelled Higher by Hopes for Brexit Deal”
Month: December 2017
US Dollar Opens Sharply Higher as Markets Reopen
The US dollar opened sharply higher at the start of the trading session after markets got chance to react to the news that the US Senate passed the tax reform bill. Markets could not react to the news immediately as the announcement came out after trading ended. But after markets reopened, the dollar surged on hopes that the proposed tax cuts will reinvigorate the economy. But it is too early to rejoice just yet … “US Dollar Opens Sharply Higher as Markets Reopen”
What’s involved in creating a new ICO
Everyone is talking about cryptocurrencies and ICO’s. Whilst Bitcoin has been in the public consciousness for years and everyone understands how they can be used and what they do, the new cryptocurrencies can be a bit of a confusing matter. To understand it a little better, let’s go through the process of making our own … “What’s involved in creating a new ICO”
US Dollar Outlook: Important Economic Data Can Be Overshadowed by Politics
This week should be fairly important for the US dollar. Several major economic reports will come out during the week, including nonfarm payrolls. But there is a high probability that politics will overshadow macroeconomic data. As usual, nonfarm payrolls will come out on Friday. The report for October showed a huge increase by 261,000. But that was actually a compensation for the previous monthâs reading of 18,000, which was … “US Dollar Outlook: Important Economic Data Can Be Overshadowed by Politics”
Trading a Trump impeachment with the US dollar in 3 phases
Donald Trump managed to withstand an amazing number of scandals. However, the latest issues refuse to move away. The recent Comey memo reports are of specific concern. According to the report, the President asked the FBI director to let go of an investigation into Michael Flynn’s business. This could amount to an attempt to obstruct justice, … “Trading a Trump impeachment with the US dollar in 3 phases”
Dollar Ends Week Soft, Waits for Reaction to Tax Reform News
This week was far more eventful than the previous week, which was rather quiet due the Thanksgiving holiday in the United States. Not all of those events were good for the US dollar, leaving the currency rather soft by the weekend. With that said, the major piece of news that could have been supporting the greenback came out after trading ended, on Saturday, giving the markets no time to react. Economic … “Dollar Ends Week Soft, Waits for Reaction to Tax Reform News”
Canadian Dollar Rises Sharply on Booming Employment, Rising GDP
The Canadian dollar jumped sharply today following the release of the stellar employment data in Canada. The better-than-expected GDP print did not hurt the currency either. Employment in Canada rose by a whopping 79,500 in November from October — a far bigger increase than 10,200 promised by analysts and 35,300 registered in October. Moreover, the unemployment rate unexpectedly dropped from 6.3% to 5.9% — the lowest level since February 2008. Meanwhile, gross domestic product showed … “Canadian Dollar Rises Sharply on Booming Employment, Rising GDP”
Dollar Loses Ground as Flynn Prepares to Testify Against Trump
The US dollar fell against most-traded currencies (though not the Great Britain pound) today as US politics took the center stage yet again, distracting market participants from other fundamental factors that could have influenced the currency. US economic data was mixed today, with slowing manufacturing growth but unexpectedly fast growth of the construction sector. But traders paid not attention to that after the report … “Dollar Loses Ground as Flynn Prepares to Testify Against Trump”
Trading the Trump scandals and not improbable impeachment
The Russia investigation refuses to let go, just like Clinton’s email were omnipresent on the campaign trail. How does this affect markets? The US dollar is reacting. So, we discuss the future and move and also eye the I word – impeachment. What happens if we go down that path? Things got messy, but only … “Trading the Trump scandals and not improbable impeachment”
Euro Loses Upward Momentum Despite Positive Manufacturing PMIs
The euro today rallied to new highs in the early European session boosted by the release of the positive Markit Italy Manufacturing PMI report. However, the single currency lost its upward momentum soon thereafter to print new daily lows after the release of the Markit Eurozone Manufacturing PMI, which was also above forecasts. The EUR/USD currency pair hit a high of 1.1940 in the early European session before retracing all its gains to hit … “Euro Loses Upward Momentum Despite Positive Manufacturing PMIs”