The Australian dollar dropped intraday during the current trading session but has started a rebound at 10:45 GMT and managed to erase its losses against most of its rivals by now, with the notable exception of the US dollar. The minutes of the March policy meeting released by the Reserve Bank of Australia today provided no surprises. The central bank was optimistic about the domestic economy overall but mentioned several headwinds. Among them was … “Aussie Drops Intraday, Reverses Decline Sharply”
Month: March 2018
Pound Climbs on Reports About Brexit Transition Deal
The Great Britain pound jumped today against its most-traded peers on news that the United Kingdom and the European Union have reached a transition deal that would keep trade between the UK and the EU. Analysts were bullish on the sterling at the start of the current trading session, hoping that Britain and the EU will reach an agreement that would allow trading between the two to remain unhindered after the Brexit for at least couple of years before … “Pound Climbs on Reports About Brexit Transition Deal”
Japanese Yen Loses Intraday Gains
The Japanese yen gained during the Asian trading session but has lost its gains by the start of the European session and is trading below the opening level now. The Bank of Japan released the Summary of Opinions at its March policy meeting, revealing that policy makers wanted to maintain the current extremely accommodative monetary policy: There is no change in the judgment that it is necessary to continue pursuing powerful monetary easing … “Japanese Yen Loses Intraday Gains”
EUR/USD: No Change In S/T Story (A Tired Rally) Or L/T Story (Heading To 1.30) – SocGen
The euro lost some ground the dollar in limited range trading. However, this tired rally may make way for gains down the road. Here is their view, courtesy of eFXnews: Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook and maintains its bullish medium-term bias over the coming months. “EUR/USD tested 1.2450 and then fell just below … “EUR/USD: No Change In S/T Story (A Tired Rally) Or L/T Story (Heading To 1.30) – SocGen”
Canadian Dollar Logs Weekly Losses as Trade War Fears Grow
The Canadian dollar slumped this week due to risk aversion caused by concerns about potential trade wars between the United States and other countries, China in particular. The vast majority of traders perceive US protectionism as detrimental to the global economy. Considering that China seems to be the primary target for US tariffs, Canada’s economy was not threatened as much as economies of Australia and New Zealand because China is not a major trading … “Canadian Dollar Logs Weekly Losses as Trade War Fears Grow”
USD/CAD Rallies Higher on Mixed US Releases
The USD/CAD currency pair today rallied slightly higher as the Canadian dollar weakened against its US counterpart following mixed US macro releases. The loonie was largely weaker against the greenback despite slightly positive crude oil prices, which usually boost the currency. The USD/CAD currency pair today rallied slightly higher from a low of 1.3043 to a high of 1.3098, but was unable to break above the crucial 1.3100 psychological … “USD/CAD Rallies Higher on Mixed US Releases”
EUR/USD Declines Despite Weak US Housing Data
The EUR/USD currency pair declined significantly after the release of weak US housing data. The currency pair ignored the disappointing US housing report as investor sentiment towards the pair shifted in favor of the greenback leading to the pair’s decline. The EUR/USD currency pair lost over 50 points to decline from a high of 1.2336 to a low of 1.2280 at the time of writing. The currency pair was on an uptrend from the beginning of today’s session as the euro recovered from yesterday’s … “EUR/USD Declines Despite Weak US Housing Data”
NZ Dollar Driven Down by Economic Data, Risk Aversion
The New Zealand dollar dropped today, joining other commodity-geared currencies in decline, driven down by domestic macroeconomic data as well as the general risk-averse market sentiment. The seasonally adjusted BusinessNZ Performance of Manufacturing Index fell from 54.4 to 53.4 in February. Still, the index was above the neutral 50.0 level, indicating that the sector continued to expand. Nevertheless, the report was not beneficial to the currency, which also suffered from the negative market … “NZ Dollar Driven Down by Economic Data, Risk Aversion”
Australian Dollar Declines amid Trade War Concerns
The Australian dollar fell along with other commodity currencies today amid concerns about the planned tariffs in the United States that may hamper global growth. Most economists believe that protectionism is detrimental to economy. Therefore, the prospect for trade wars led to concerns among investors, which make them less willing to purchase riskier currencies linked to raw materials. But the Aussie was especially vulnerable as it looks … “Australian Dollar Declines amid Trade War Concerns”
EUR/USD: Strategic Bulls Need To Be ‘Prudent & Patient’ To Navigate More Choppiness Ahead – SocGen
EUR/USD is leaning to the downside as the greenback gains strength. What’s next? Here is their view, courtesy of eFXnews: Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook and maintains its bullish medium-term bias over the coming months, advising strategic EUR bulls need to be patient in order to navigate more choppy price action ahead. “EUR/USD … “EUR/USD: Strategic Bulls Need To Be ‘Prudent & Patient’ To Navigate More Choppiness Ahead – SocGen”