Brexit negotiations remain stuck, four months ahead of Brexit Day. Postponing the decision is becoming a viable option. The Pound could rise in case a hard Brexit is averted. The European Union and the United Kingdom have made significant progress on a wide range of issues in the Brexit negotiations. However, the question of keeping … “Brexit can be kicked down the road in a classic EU fudge”
Month: October 2018
Draghi does not rock the boat, EUR/USD at the mercy of markets
The ECB’s Draghi drew a balanced picture of the economic situation. He was slightly more positive than negative, supporting the Euro. The next moves depend on Italy, stocks, and other events. The European Central Bank left its policy unchanged as broadly expected. ECB President ECB described risks as broadly balanced. He maintained his slightly positive stance, keeping the Euro … “Draghi does not rock the boat, EUR/USD at the mercy of markets”
Euro Rallies From Trading Range After ECB Decision, Later Declines
The euro today broke out of the range it was trading in for the earlier part of the session after the European Central Bank announced its monetary policy decision. The EUR/USD currency pair rallied higher after the ECB announcement where it maintained its current monetary policy direction as was expected. The EUR/USD currency pair today … “Euro Rallies From Trading Range After ECB Decision, Later Declines”
Trump wants fewer hikes and could get more – USD set to get more support
President Trump continues upping the ante against the Fed’s policy and his pick for Chair. The central bank is set to defend its independence and has less room for flexibility. The US Dollar could benefit, and Trump’s efforts on trade could suffer. US President Donald Trump criticizes the Federal Reserve each time the stock markets … “Trump wants fewer hikes and could get more – USD set to get more support”
Chinese Yuan Weakens Despite Increased State Support
The Chinese yuan is weakening against its US counterpart midweek, despite increased state support that should give the currency a boost. The federal government has announced a series of measures aimed at spurring economic growth as the worldâs second-largest economy weathers the global trade storm, something that analysts contend will exacerbate next year. This week, Beijing announced a round of tax cuts that would be the equivalent of 1% … “Chinese Yuan Weakens Despite Increased State Support”
Loonie Rallies After Bank of Canada Rate Hike
The Canadian dollar today rallied to new highs against most of its peers including the US dollar after the Bank of Canada announced its interest rate decision in the early American session. The loonie’s rally was further boosted by the hawkish tone in the bank’s monetary policy statement, which investors interpreted as hinting at more rate … “Loonie Rallies After Bank of Canada Rate Hike”
Euro Drops to 2-Month Lows on Weak PMI Data Amid Italian Politics
The euro today tumbled to new lows against the US dollar due to the current impasse between the European Union and Italy regarding the country’s 2019 budget. The euro was further weighed down by the disappointing PMI data from across the euro area released by Markit Economics earlier today, which indicated an economic slowdown in … “Euro Drops to 2-Month Lows on Weak PMI Data Amid Italian Politics”
Japanese Yen Rises on Upbeat Tone, China Trade Talks
The Japanese yen is rising against its American counterpart on Tuesday as officials maintain an upbeat tone on the national economy. This week, Japanese leaders are in China to discuss trade and find ways to improve commerce and relations amid trade tensions with the US. On Tuesday, Japanâs Cabinet Office released its monthly economic report and it showed that the economy is gradually recovering, despite exports slowing down â the government … “Japanese Yen Rises on Upbeat Tone, China Trade Talks”
Cashing out of Crypto – Not as easy as it seems
After achieving some level of success on your speculative cryptocurrency trading, you want to enjoy the fruits of your labors, but cashing out isn’t as easy as buying into the cryptocurrency space. Why is there a problem? The problem arises when the cryptocurrency space butts up against the realm of traditional currency and banking spheres. … “Cashing out of Crypto – Not as easy as it seems”
GBP: Groundhog Day: Attempts To Remove PM May Likely A ‘Destructive’ Development – MUFG
The pound is on the back foot Here is their view, courtesy of eFXdata: MUFG Research discusses GBP outlook in light of the current heightened state of political uncertainty in the UK which was again evident in the weekend press. “In what feels like groundhog day, there were fresh reports over the threat of a potential … “GBP: Groundhog Day: Attempts To Remove PM May Likely A ‘Destructive’ Development – MUFG”