The US dollar is tumbling on Tuesday after President Donald Trump slammed the Federal Reserve for raising interest rates. Despite criticizing the US central bank on the 2016 campaign trail for keeping rates too low, the president believes that the Fed is not cooperating with his administration to spur growth. These remarks did not help the greenback as the currency suffered one of its biggest single-session losses of the year against a basket … “US Dollar Plunges As Trump âNot Thrilledâ Over Fed Rate Hikes”
Month: August 2018
3 things to watch in the ECB Meeting Minutes
The ECB Meeting Minutes will shed light on the July meeting, which ended in a lower Euro. Clarifications about the rate hike, Trump’s trade, and ticking inflation stand out. Coming after the Fed minutes, it could serve as a reminder for the ECB’s dovishness. The European Central Bank releases its Monetary Policy Meeting Accounts on Thursday, … “3 things to watch in the ECB Meeting Minutes”
What forex shows about the highs and lows of 2017/18
Are the world’s political leaders up to the job? In tumultuous times the leaders of major nations face an unenviable task in tackling some of the biggest challenges faced in modern times. Forex market experts DailyFX has put US President Donald Trump, UK Prime Minister Theresa May, Japanese Prime Minister Shinzo Abe, Canadian Prime Minister … “What forex shows about the highs and lows of 2017/18”
Pound Rallies on Trumpâs Fed Criticism Ahead of Brexit Talks
The British pound today extended yesterday’s rally against the US dollar following President Trump’s criticism of the Fed’s interest rate hikes. The GBP/USD currency pair shrugged off concerns regarding the possibility of a no-deal Brexit even as the EU’s chief negotiator and the UK’s Brexit minister are set to meet later today. The GBP/USD currency … “Pound Rallies on Trumpâs Fed Criticism Ahead of Brexit Talks”
Australian Dollar Mixed After RBA Minutes, Governor Comments
The Australian dollar was mixed today after the Reserve Bank released minutes of its August policy meeting, which did not provide many new insights into the central bank’s plans. The RBA released today minutes of the meeting that happened two weeks ago. Among interesting details in the notes analysts pointed out the mention of the El Nino event: Members noted that the probability of an El Niño event, which would … “Australian Dollar Mixed After RBA Minutes, Governor Comments”
Canadian Dollar Flat After Better-Than-Expected Inflation, Traders Eye Retail Sales
The Canadian dollar is looking for direction on Monday after the government reported better-than-expected inflation numbers. Investors will now look ahead to retail sales data later this week, as well as keep a close eye on the US central bank headâs annual speech at Jackson Hole. On Friday, Statistics Canada reported that the July consumer … “Canadian Dollar Flat After Better-Than-Expected Inflation, Traders Eye Retail Sales”
Euro Stabilizes on Italian Budget Concerns Amid Recovering US Dollar
The euro today traded sideways against the US dollar amid market concerns regarding the infrastructure spending plans of the Italian government. The recovery by the US dollar earlier today drove the EUR/USD currency pair lower, but the pair has since recovered most of its losses to trade sideways. The EUR/USD currency pair today declined to … “Euro Stabilizes on Italian Budget Concerns Amid Recovering US Dollar”
Pound Gains on Monday Despite Falling House Prices
The Great Britain pound rose against its major rivals today. It was surprising, considering that Britain’s macroeconomic data was not good and the Brexit worries continued to weigh on the currency. The Rightmove House Price Index dropped 2.3% in August from the previous month after falling just 0.1% in July. Year-on-year, the index rose 1.1%. The report claimed that it was just a “seasonal drop” because “new sellers … “Pound Gains on Monday Despite Falling House Prices”
Turkish Lira Extends Decline on Monday
The Turkish lira continued to fall today after halting its recovery last week. For now, it looks like the decline did not affect other currencies. On Friday, Standard & Poor’s cut Turkey’s credit rating, announcing: S&P Global Ratings lowered its unsolicited long-term foreign currency sovereign credit rating on Turkey to ‘B+’ from ‘BB-‘ and its unsolicited long-term local currency sovereign credit rating … “Turkish Lira Extends Decline on Monday”
EUR/USD: Charts: USD Trade-Weighted Index (TWI) At A Critical Juncture – SocGen
EUR/USD is looking for a new direction after recovering from the downfall. In the longer term, the common currency seems to have lots of room to rise. Here is their view, courtesy of eFXdata: Societe Generale Cross Asset Strategy Research notes that the USD trade-weighted index (TWI) is at a critical juncture and discusses the related … “EUR/USD: Charts: USD Trade-Weighted Index (TWI) At A Critical Juncture – SocGen”