The Great Britain pound attempted to rally today but failed. Currently, the sterling trades at the opening level against some rivals and fell far below it versus others. Thursday’s macroeconomic data was generally positive, but that did not help the currency. The GfK UK Consumer Confidence improved from -9 in April to -7 in May, beating analysts’ expectations. The Nationwide House Price Index was the only outright negative … “Pound Shows Weakness Despite Supportive Domestic Data”
Month: May 2018
Dollar Soft as USA Prepares to Implement Tariffs on Allies
The US dollar was rather soft today, falling against its most-traded rivals, though it has managed to pare losses versus some of its peers by now. The major topic for today was expiration of the tariff exemption for the closest US allies. Back in March, US President Donald Trump announced tariffs on steel and aluminum imports but made an exemption for the key trading partners, including Canada, Mexico, and the European Union. The exemption … “Dollar Soft as USA Prepares to Implement Tariffs on Allies”
USD/JPY: Below 100 If Abe Steps Down On A Defeat In September Leadership Election – Nordea
While North Korea, Iran, and trade wars have taken center stage, politics in Japan remain of importance. The team Nordea assesses the potential for fresh movements in Abe loses his job. Here is their view, courtesy of eFXdata: Nordea Research discusses USD/JPY outlook and flags a significant macro risk in Japan in the upcoming leadership election … “USD/JPY: Below 100 If Abe Steps Down On A Defeat In September Leadership Election – Nordea”
Canadian Dollar Drops Against US Dollar on Weak Canadian GDP Data
The Canadian dollar today crashed to new lows against the US dollar following the release of disappointing Canadian Q1 GDP data in the early American session. The loonie’s fall triggered a rally in the USD/CAD currency pair as investors dumped the commodity-linked loonie in favor of the greenback. The USD/CAD currency pair today rallied from a low of 1.2815 to a high of 1.2984 following the Canadian and US releases. The currency pair was on a downtrend from the start of today’s session to the mid-European … “Canadian Dollar Drops Against US Dollar on Weak Canadian GDP Data”
Bitcoin path of least resistance is up, Ripple is vulnerable, Ethereum looking for a direction
The Confluence Detector shows clusters of technical levels according to their importance. Bitcoin is looking bullish, Ethereum is looking for a direction, while Ripple is vulnerable. BTC/USD path of least resistance is up The price of Bitcoin (BTC/USD) extends its gradual recovery. Can it continue higher? The Technical Confluence Detector shows that the digital coin … “Bitcoin path of least resistance is up, Ripple is vulnerable, Ethereum looking for a direction”
Euro Rallies on Positive Eurozone Inflation Data, Later Declines
The euro today rallied higher against the US dollar following the release of upbeat Eurozone inflation data, which came in close to the European Central Bank‘s inflation target. The single currency was further boosted by the decision by Italian political parties to form a government instead of opting for fresh elections. The EUR/USD currency pair today rallied to a high of 1.1724 from a low of 1.1648 gaining over 70 points, but was on a downtrend at the time of writing. … “Euro Rallies on Positive Eurozone Inflation Data, Later Declines”
NZ Dollar Mirrors Aussie’s Mixed Performance
The New Zealand dollar behaved in the similar manner as its Australian counterpart today, rising against some most-traded peers and falling versus others. Unlike the Aussie though, the kiwi had no positive domestic macroeconomic reports. The ANZ business confidence worsened to -27.2 in May from -23.4 in the previous month. The activity outlook fell from 17.8 to 13.6. The report said: The survey made for fairly uninspiring reading this month, with all … “NZ Dollar Mirrors Aussie’s Mixed Performance”
Australian Dollar Mixed After Macroeconomic Data
The Australian dollar was mixed today, rising against some rivals and falling versus others. Macroeconomic data was mixed as well, giving the currency no clear direction. Private capital expenditure rose 0.4% in the March quarter from the previous three months, two times slower than analysts had predicted — 0.8%. Private sector credit rose 0.4% in April from March, matching expectations. The China Federation of Logistics and Purchasing … “Australian Dollar Mixed After Macroeconomic Data”
USD/CAD may be pricing a higher Canadian GDP – Preview
Quarterly Canadian GDP is expected to show moderate growth in the cold first quarter. The BOC’s upbeat statement raises expectations for more robust growth. The USD/CAD has traded in a broad channel ahead of the release. Canada publishes its GDP report on Thursday, May 31st, at 12:30 GMT. The nation releases growth figures on a … “USD/CAD may be pricing a higher Canadian GDP – Preview”
Are Bonds No Longer a Safe Bet?
A bull market in bonds has existed since 1980, when the yield of the benchmark US 30-year Treasury bond reached 15%. This yield continued to fall to its current low of 2-3%. The big question on investors’ minds—has the bull move run its course? Market wisdom states that bells won’t ring at the top or … “Are Bonds No Longer a Safe Bet?”