The EUR/USD currency pair today declined to new lows below the crucial 1.2000 psychological level and was on a track to book the second consecutive losing session this year. The currency pair’s decline was largely triggered by the goodish recovery in the US dollar as investors ignored Friday’s disappointing US jobs data. The EUR/USD currency pair lost over 80 points from a session high of 1.2052 to hit a low of 1.1967 in the early American session. … “EUR/USD Drops to New Lows Despite Positive Eurozone Data”
Month: January 2018
USD/CAD: Job Report Enough For BoC To Hike This Month – CIBC
The Canadian dollar enjoyed a superb jobs report: back to back gains of around 79K. What are the implications for the loonie? Here is the view from CIBC: Here is their view, courtesy of eFXnews: CIBC Research discusses the reaction to today’s Canadian jobs report for the month of December. “The books closed on a phenomenal … “USD/CAD: Job Report Enough For BoC To Hike This Month – CIBC”
Should I buy Bitcoin Futures?
The wonderful world of futures contracts has finally caught up with the exciting new world of cryptocurrencies. If you pardon the pun, for Bitcoin, the futures is now. Futures contracts have been in use since the late 19th century. A futures contract is an agreement for the delivery of goods at a specified date in … “Should I buy Bitcoin Futures?”
Australian Dollar Falls as Trade Balance Logs Unexpected Deficit
The Australian dollar fell against its major counterparts (with the exception of the Japanese yen) as the nation’s trade balance missed market expectations. Australia’s trade deficit rose from A$0.3 billion in October (negatively revised from the surplus of A$0.11 billion) to A$0.63 billion in November. It was nowhere near the excess of A$0.55 billion predicted by economists. The Australian currency dropped after the report, halting the earlier rally, though the Aussie managed to retain … “Australian Dollar Falls as Trade Balance Logs Unexpected Deficit”
Euro Declines Against US Dollar on Weak Eurozone CPI
The euro was on a downtrend against the US dollar for most of the European session having been in a consolidation phase during the Asian session. The single currency’s decline was largely precipitated by the modest recovery in the US dollar demand. The EUR/USD currency pair today lost about 40 points to decline from a session high of 1.2079 to a low of 1.2039 during the early European session. The release of the positive core Eurozone CPI data for December by Eurostat had … “Euro Declines Against US Dollar on Weak Eurozone CPI”
Yen Vulnerable as Traders Don’t Shun Risk
The Japanese yen together with the Swiss franc were the weakest currencies at the start of the year due to traders’ risk appetite. The last trading day of the week was not different as the yen slid against its most-traded rivals, reaching a new multi-year low versus the euro. Many global stock indices were at record highs, signaling about confidence among investors. Commodities and riskier currencies were also benefiting from the wide-spread risk … “Yen Vulnerable as Traders Don’t Shun Risk”
Canadian Dollar Gets Support from Economic Data & Crude Oil
The Canadian dollar rallied against its most-traded peers today (with the exception of the rather strong euro) as Statistics Canada released a very positive macroeconomic report. The rally of crude oil also contributed the currency’s gains. According to the report from Statistics Canada, the Industrial Product Price Index increased 1.4% in November and the Raw Materials Price Index rose 5.5%. Both indices beat expectations, and both benefited from higher prices from … “Canadian Dollar Gets Support from Economic Data & Crude Oil”
British Pound Gains Against US Dollar on Positive UK and US Data
The British pound today gained ground against the US dollar amid a raft of positive UK macro releases such as the Markit/CIPS UK Services PMI. Positive releases from the US docket in the early American session could not derail the pound’s rally against the US dollar. The GBP/USD currency pair gained over 55 points from a low of 1.3504 to hit a high of 1.3560 during the mid-European session. The release of the Markit/CIPS UK Services … “British Pound Gains Against US Dollar on Positive UK and US Data”
Accelerating Expansion of Japanese Manufacturing Fails to Boost Yen
The Japanese yen fell against its most-traded peers during the current trading session despite the solid manufacturing report, which showed that the expansion of the sector was the fastest in several years. The headline Nikkei Japan Manufacturing Purchasing Managers’ Index edged up from 53.6 in November to 54.0 in December according to the final estimate. While the reading was a bit lower than the preliminary reading and the consensus forecast of 54.2, it was still … “Accelerating Expansion of Japanese Manufacturing Fails to Boost Yen”
Australian Dollar Mixed Despite Support from Economic Data
The Australian dollar was mixed on Thursday despite very positive macroeconomic data, both from Australia and abroad. News from China was especially good as the services sector was expanding with the fastest pace in several years. The Caixin China General Services PMI jumped from 51.9 in November to 53.9 in December, while economists had expected it to stay about the same. It was the highest level since August 2014. … “Australian Dollar Mixed Despite Support from Economic Data”