The euro fell against the US dollar intraday but has managed to recover by now. Against other majors the shared 19-nation currency was mixed, rising against the safe currencies, like the Japanese yen, but falling versus the Great Britain pound. The major driver for the currency were European election on the weekend. Angela Merkel secured her fourth term as German Chancellor after the Social Democrats voted for a coalition deal with Merkel’s … “Euro Mixed After European Elections, Disappointing Economic Reports”
Month: March 2018
EUR/USD: Expect A Knee-Jerk Reaction From Next Week’s ECB Meeting – Danske
The European Central Bank is expected to leave the rates unchanged but may tweak its statement. What is on the cards? Here is a preview from Danske. Here is their view, courtesy of eFXnews: Danske Research discusses its expectations for next week’s ECB meeting and the likely EUR/USD reaction around the meeting. “The increasingly more complicated … “EUR/USD: Expect A Knee-Jerk Reaction From Next Week’s ECB Meeting – Danske”
US Dollar Demonstrates Decent Weekly Performance
The past trading week was marked by risk aversion caused by prospects for trade wars between the United States and its trading partners. While it weighed on the US dollar, the greenback’s performance was not that bad considering the circumstances as the US currency ended the week the third strongest among majors. The surprise announcement of tariffs on steel and aluminum imports by the USA prompted strong criticism and threats of retaliation from China and the European Union. Earlier … “US Dollar Demonstrates Decent Weekly Performance”
Canadian Dollar Weakens on Trader War Concerns & Slowing Growth
The Canadian dollar was weak across the board today, reaching the lowest level in more than a year against many of its most-traded peers. There were several possible reasons for that, most important of them were prospects for trade wars and slowing economic growth in Canada. Canada’s gross domestic product rose just 0.1% in December. While markets expected such reading, it was still a slowdown from the 0.4% growth … “Canadian Dollar Weakens on Trader War Concerns & Slowing Growth”
Euro Firm Despite Mixed Data & Risk-Off Sentiment
The euro was trading mostly higher today (though not against the extremely strong Japanese yen) even as domestic macroeconomic data was mixed and the general sentiment on the Forex market was in favor of safer currencies. German retail sales fell 0.7% in January from the previous month instead of rising by 0.8% as analysts had predicted. At the same time, German import prices rose 0.5%, slightly above the median forecast of 0.4%, while … “Euro Firm Despite Mixed Data & Risk-Off Sentiment”
British Pound Trades Sideways on UK Construction PMI
The British pound today traded sideways against the US dollar after the release of the Markit/CIPS UK Construction PMI in the early European session. The pound rallied slightly higher in the mid-European session in risk-off environment as markets reacted to President Trump’s announcement that the US would institute steep tariffs on imported steel and aluminum products. The GBP/USD currency pair traded mostly in a sideways ranged marked by a high of 1.3816 and a low of 1.3755. The currency’s pair’s sideways … “British Pound Trades Sideways on UK Construction PMI”
Japanese Yen Touches Highest Since November 2016 vs. US Dollar
The Japanese yen rallied against its most-traded rivals today, touching the highest level since November 2016 versus the US dollar, thanks to the outlook for monetary policy normalization, positive macroeconomic data, and the general risk averse sentiment on the Forex market. Bank of Japan Governor Haruhiko Kuroda surprised markets, discussing hist stimulus exit strategy for the first time today. He said: The BOJâs board members expect that prices will … “Japanese Yen Touches Highest Since November 2016 vs. US Dollar”
NZ Dollar Fails to Rally, Dragged Down by Risk Aversion
The New Zealand dollar attempted to rally today, but the attempt has failed, and the currency is trading below the opening level as of now. New Zealand building consents rose 0.2% in January after tanking by 9.5% in the previous month. The kiwi paid little attention to the report. Rather, the currency felt pressure from risk aversion caused by the announcement of US tariffs on steel and aluminum imports. NZD/USD was up from 0.7245 to 0.7278 intraday … “NZ Dollar Fails to Rally, Dragged Down by Risk Aversion”
US Dollar Weakens on US Trade Tariffs & Jerome Powell Testimony
The US dollar was moving up during the Thursday trading session but has lost its gains against basically all of its most-traded peers. There were two likely reasons for that: the announcement of US import tariffs and disappointment in the second testimony of the new Federal Reserve leader Jerome Powell. US President Donald Trump announced that the United States are going to impose duties of 25% on steel and 10% aluminum, … “US Dollar Weakens on US Trade Tariffs & Jerome Powell Testimony”
Swiss Franc Bounces on Risk Aversion, Unable to Beat EUR & JPY
The Swiss franc was falling today following the release of domestic macroeconomic data. The currency managed to reverse losses later thanks to risk aversion caused by announcement of import tariffs by the United States. The Swissie could not overcome the euro and the Japanese yen, though. Swiss gross domestic product rose 0.6% in the fourth quarter of the last year, meeting expectations. Retail sales dropped 1.4% in January from a year ago. That is compared … “Swiss Franc Bounces on Risk Aversion, Unable to Beat EUR & JPY”