The euro backed off to new lows after attempting to rally earlier today. European politics was the main driver for the currency. Italian President Sergio Mattarella vetoed the appointment of euroeskeptic Paolo Savona as a new economy minister, resulting in a surge of optimism among investors. Yet the positive sentiment was short-lived as Mattarella will likely face calls for impeachment and resignation from populist anti-establishment parties. Meanwhile, Spanish opposition parties called for a vote … “European Politics Boosts Euro Intraday, Make It Reverse Rally Later”
Month: May 2018
Japanese Yen Ends Week Strongest amid Risk Aversion
The Japanese yen ended the week as the strongest among the major currencies, supported by risk aversion. Market participants were seeking a safe haven amid geopolitical tensions and economic worries, and that led them to the safety of Japan’s currency. The market sentiment was very optimistic at the start of the week as it looked like prospects for a trade war between the United States and China were waning. Yet the optimism quickly evaporated after US President Donald … “Japanese Yen Ends Week Strongest amid Risk Aversion”
Turkish Lira Continues to Slide Despite Central Bank’s Efforts
The Turkish lira continued to slide today despite efforts from the nation’s central bank to stem the currency’s depreciation. The Central Bank of the Republic of Turkey made an emergency interest rate hike on Wednesday, raising the lending rate by 3 percentage points to 16.5%. Other rates, including the benchmark Marginal Funding Rate, remained without change. Apparently, that was not enough to prevent the collapse of the lira as the currency continued to fall afterwards. USD/TRY rose … “Turkish Lira Continues to Slide Despite Central Bank’s Efforts”
British Pound Trades Lower Despite In Line UK GDP Data
The British pound today declined against the US dollar despite the release of the second estimate UK GDP data for Q1 2018, which met expectations. The Sterling pound was on a downtrend against the greenback from the Asian session, but rallied slightly following the GDP report before heading lower. The GBP/USD currency pair today declined from a high of 1.3384 to a low of 1.3310 losing over 70 points as at the time of writing. The currency pair … “British Pound Trades Lower Despite In Line UK GDP Data”
Euro Rallies Higher Against US Dollar on Positive German Data
The euro today rallied higher against the US dollar from the Asian session following yesterday’s dovish FOMC minutes. The positive German GDP data fueled the euro’s rally into the early European session before a slight retracement ensued following the release of the latest ECB minutes. The EUR/USD currency pair today rallied from a low of 1.1690 to a high of 1.1750 for a peak gain of over 55 points. The currency pair’s rally was initially … “Euro Rallies Higher Against US Dollar on Positive German Data”
5 reasons why this EUR/USD rise is only temporary
The EUR/USD is recovering from the lows and finds some reasons to rise. However, this may only be a temporary, as the pair has reasons to fall. Here are five reasons to fade this current recovery. The EUR/USD is on the rise, trading above 1.1700 and contrary to previous days, not losing ground at the wake of … “5 reasons why this EUR/USD rise is only temporary”
GBP/USD: UK Politics Back In Driver Seat N-Term – BTMU
The Brtish Pound is undoubtedly on the back foot as data remains disappointing. But it is not only about the data but also about politics. Here is their view, courtesy of eFXdata: BTMU Research discusses GBP outlook and notes that the real driver of the pound over the short-term is now more related to politics than … “GBP/USD: UK Politics Back In Driver Seat N-Term – BTMU”
Civic (CVCBTC) looks Promising; Support can Bring Higher Levels in
Hello traders, we want to share with you a recognizable pattern on Civic against Bitcoin(CVCBTC), in which we see the potential for much higher levels. Civic made five waves up from 0.000026 lows, which means that trend is bullish. In EW theory, after every five waves, a three-wave pullback follows. If we also consider current … “Civic (CVCBTC) looks Promising; Support can Bring Higher Levels in”
eFXplus and Thomson Reuters Expand the Derived Data Service Partnership
eFXplus, a fintech strategy platform by eFXdata, is announcing its strategic partnership with Thomson Reuters (TR) to derive and stream TR-IFR Markets data in real-time. Through the partnership, Thomson Reuters supports innovative solutions developed by eFXdata by providing access to its new IFR Markets data APIs. eFXdata has devised a machine reader for said APIs … “eFXplus and Thomson Reuters Expand the Derived Data Service Partnership”
British Pound Hits New Lows on Lackluster UK Inflation Data
The British pound was on a downtrend against the US dollar from the start of today’s session largely boosted by a risk-off sentiment in the markets. The downtrend was further accelerated by the release of the UK Consumer Price Index data for April, which missed expectations, dragging the pound much lower. The GBP/USD currency pair today lost over 135 points to decline from a high of 1.3442 to a low of 1.3305. The currency pair’s decline was initially caused by the risk … “British Pound Hits New Lows on Lackluster UK Inflation Data”