The Australian dollar dropped against other most-traded currencies today, reaching the lowest level in more than a year against the US dollar. The Aussie fell following the surge of risk aversion, mixed domestic macroeconomic data, and the release of the central bank’s policy meeting. The Reserve Bank of Australia released minutes of its June policy meeting today. Analysts were concerned that the central bank dropped the mention that the next move in interest rates … “AUD Touches Lowest Since May 2017 vs. USD”
Month: June 2018
Swiss Franc Gains Boost from Risk Aversion & Economic Outlook
The Swiss franc gained against most other major currencies today, with the exception of the US dollar. The risk-negative market sentiment and the optimistic outlook for Switzerland’s economy helped the currency. Signs that the trade conflict between China and the United States is escalating spooked markets, making traders prefer safer currencies over riskier ones. Meanwhile, the economic forecast by the Federal Government’s Expert Group released by the State Secretariat for Economic Affairs today … “Swiss Franc Gains Boost from Risk Aversion & Economic Outlook”
A trade war could become irreversible after three events around the turn of the month
There is no letting down in trade wars after the catastrophic G-7 Summit and the China tariffs. Markets are beginning to pay a bit more attention, but not panicking just yet. There are three critical dates for each geographic region to pencil in. US President Donald Trump is picking fights on trade, and not only on … “A trade war could become irreversible after three events around the turn of the month”
A trade war could become irreversible after three events around the turn of the month
There is no letting down in trade wars after the catastrophic G-7 Summit and the China tariffs. Markets are beginning to pay a bit more attention, but not panicking just yet. There are three critical dates for each geographic region to pencil in. US President Donald Trump is picking fights on trade, and not only on … “A trade war could become irreversible after three events around the turn of the month”
EUR/USD: 2 Reasons Why EUR/USD Likely To Stabilize N-Term – ING
EUR/USD stabilized and even managed to rise after the blows from Draghi last week. What’s next? Here is their view, courtesy of eFXdata: ING Research discusses EUR/USD outlook and expects a scope for the pair to consolidate this week. “Following the close to three big figure decline after the ECB meeting, we expect EUR/USD to stabilise as (a) the … “EUR/USD: 2 Reasons Why EUR/USD Likely To Stabilize N-Term – ING”
EUR/USD: 2 Reasons Why EUR/USD Likely To Stabilize N-Term – ING
EUR/USD stabilized and even managed to rise after the blows from Draghi last week. What’s next? Here is their view, courtesy of eFXdata: ING Research discusses EUR/USD outlook and expects a scope for the pair to consolidate this week. “Following the close to three big figure decline after the ECB meeting, we expect EUR/USD to stabilise as (a) the … “EUR/USD: 2 Reasons Why EUR/USD Likely To Stabilize N-Term – ING”
NZ Dollar Robust Despite Worsening Economic Outlook
The New Zealand dollar gained on its most-traded rivals today, though not on the extremely strong euro. Such good performance was surprising, considering the risk-off market sentiment and the worsening outlook for New Zealand’s economic growth. The NZ Institute of Economic Research released its Consensus Forecast today. The NZIER revised the forecast for New Zealand’s economic growth in 2018 from 2.9% to 2.8%. The next couple of years also received negative revisions, … “NZ Dollar Robust Despite Worsening Economic Outlook”
Japanese Yen Strong on Risk Aversion
The Japanese yen was relatively strong today due to risk aversion caused by the US-China trade war. Surprisingly poor domestic macroeconomic data had limited impact on the currency. Japan’s trade balance turned from a surplus of ¥0.45 trillion in April to a deficit of ¥0.3 trillion in May. That was a total surprise to analysts, who were counting on an excess of ¥0.14 trillion. Markets were nervous at the start of the week amid fears of trade wars … “Japanese Yen Strong on Risk Aversion”
Pessimistic Economic Outlook Weighs on Pound
The Great Britain pound was soft today due to the pessimistic economic outlook for the United Kingdom. Decent macroeconomic data was unable to rescue the currency. The Rightmove House Price Index rose 0.4% in June, month-on-month, after increasing 0.8% in May. Prices for newly-marketed property reached a new record for the third consecutive month. Meanwhile, the British Chamber of Commerce revised its economic growth forecast for the UK economy to 1.3% in 2018 from 1.4% … “Pessimistic Economic Outlook Weighs on Pound”
Fed & ECB Meetings Boost US Dollar
The US dollar was strong for the most part of the week, boosted by policy meetings of the Federal Reserve and the European Central Bank, though the currency weakened somewhat on Friday. Fed and ECB policy meetings were the focus of the past trade week. The Fed hiked interest rates, in line with expectations. What really surprised markets was the projection of two more hikes this year instead of just one, promised in the previous forecasts. Meanwhile, the ECB … “Fed & ECB Meetings Boost US Dollar”