EUR/USD is stuck in a range for a long time. What’s next? A breakout may be close. Here is their view, courtesy of eFXdata: Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook and notes that prices need to close above 1.1690 by the end of play tomorrow to avoid a fourth consecutive monthly fall – the longest … “EUR/USD: Could See 1.1750 This Week Before Breaking Out Of Range In August – SocGen”
Month: July 2018
Accepting Bitcoin as a payment method – Why you should and how to go about it
Cryptocurrency has barely been out of the news since its meteoric rise to prominence in the latter half of 2017. Given its gradual segue into mainstream parlance and usage, accepting Bitcoin (or another cryptocurrency) as payment in your business seems like the next logical step. However, despite cryptocurrency’s growing popularity, Bitcoin, in particular, there are … “Accepting Bitcoin as a payment method – Why you should and how to go about it”
Accepting Bitcoin as a payment method – Why you should and how to go about it
Cryptocurrency has barely been out of the news since its meteoric rise to prominence in the latter half of 2017. Given its gradual segue into mainstream parlance and usage, accepting Bitcoin (or another cryptocurrency) as payment in your business seems like the next logical step. However, despite cryptocurrency’s growing popularity, Bitcoin, in particular, there are … “Accepting Bitcoin as a payment method – Why you should and how to go about it”
Euro Rallies Higher Despite Disappointing German Inflation Data
The euro today rallied higher against the US dollar despite the release of disappointing German inflation data in the mid-European session. The EUR/USD currency pair broke out of the consolidative pattern that dominated the Asian session due to positive investor sentiment towards the single currency. The EUR/USD currency pair today rallied from an initial low … “Euro Rallies Higher Despite Disappointing German Inflation Data”
Japanese Yen Trades Lower After Retail Sales Beat Expectations
The Japanese yen opened slightly above the Friday’s close today but has declined by now. Japan’s retail sales beat expectations but, as it often happens, the currency had muted reaction to domestic data. Japan’s Ministry of Economy, Trade and Industry reported that retail sales climbed 1.8% in June, year-on-year. The rate of increase was slightly higher than 1.7% predicted by economists and three times faster than the 0.6% pace … “Japanese Yen Trades Lower After Retail Sales Beat Expectations”
Krona Rallies As Swedish GDP Beats Expectations
The Swedish krona rose sharply today after Sweden’s economic growth surprised the market, beating expectations. Swedish GDP rose 3.3% in the second quarter of 2018, year-on-year. While it was the same rate of growth as in the first quarter, it was noticeably faster compared to the consensus forecast of a 2.6% increase. The positive data reinforced the outlook for the nation’s central bank to raise interest rates gradually throughout the year. USD/SEK dropped from 8.8290 … “Krona Rallies As Swedish GDP Beats Expectations”
US Dollar Ends Week as Third Strongest Currency
The US dollar ended the week the third strongest currency on the Forex market, losing only to the Canadian dollar and the Japanese yen. There were two major events over the week, and both of them were beneficial to the currency. The meeting between European Union Commission President Jean-Claude Juncker and US President Donald Trump was unexpectedly fruitful, bringing ceasefire in the trade war between the US and the EU. Meanwhile, the policy meeting of the European Central Bank … “US Dollar Ends Week as Third Strongest Currency”
Canadian Dollar Soft on Friday, Heads to Weekly Gains
The Canadian dollar traded flat-to-lower against its major rivals today following the decline of crude oil prices. For the week, though, the currency was heading to strong gains. Crude oil declined on Friday as the number of US oil rigs increased. The Canadian currency often follows moves of crude as the commodity is the major component of Canada’s trade revenue. Talking about trade, concerns about trade wars between the United States and their allies … “Canadian Dollar Soft on Friday, Heads to Weekly Gains”
IMF Says Chinese Yuan âFairly Valuedâ As Currency Slips Further
The Chinese yuan continued its slide on Friday as the currency fell beyond its 13-month low. Despite the US government hinting that the central bank is purposely debasing the yuan, the International Monetary Fund (IMF) said it is âfairly valued.â Speaking in an interview with CNBC, James Daniel, the IMF mission chief for China, explained that the deviation in US and Chinese monetary policies have been contributing the latest decline in the yuan. … “IMF Says Chinese Yuan âFairly Valuedâ As Currency Slips Further”
US Dollar Soft Despite Strong US GDP Growth
The US dollar was broadly lower against its major peers today, though the losses were very limited. The currency fell after the release of a GDP report, even though it was very good, showing that the US economy was growing with the fastest pace in four years. The Bureau of Economic Analysis reported that US gross domestic product rose 4.1% in the second quarter of this year — a sharp acceleration … “US Dollar Soft Despite Strong US GDP Growth”