The Great Britain pound declined today as optimism about a trade deal between the United Kingdom and the European Union started to wane. Earlier, the sterling was strong on the signs that the Brexit deal is near. But the recent reports put a damper on such hopes. Prime minister’s spokesman said: It is worth me pointing out that thereâs a difference between people talking optimistically about a deal and a deal, including both … “Pound Retreats as Brexit Optimism Wanes”
Month: October 2018
Euro Declines on Italyâs Defiance to the EU Amid Trade War Fears
The euro today fell to new 6-week lows against the US dollar as investors remained concerned about Italy’s defiance towards the EU’s budget demands. The risk-off sentiment in the market further contributed to the EUR/USD currency pair’s decline as trade war fears dominated the markets on a data-light Monday. The EUR/USD currency pair today dropped … “Euro Declines on Italyâs Defiance to the EU Amid Trade War Fears”
Australian Dollar Mixed, Fundamentals Don’t Help to Find Direction
The Australian dollar was mixed today, trading basically flat against its US counterpart, rising against the euro, but falling versus the Japanese yen. Fundamentals, which were mixed themselves, did not help the currency to find a direction. The People’s Bank of China announced that it is cutting the reserve ratio requirements for most commercial banks by 1%. While it helped to mitigate the impact of the falling Chinese stocks on the Forex … “Australian Dollar Mixed, Fundamentals Don’t Help to Find Direction”
All roads lead to Rome: Why is Italy on everyone’s mind?
This time it’s not because of Juventus or the largest pizza in the world. Rather, it’s the Italian budget and its potential impact on the European Union and the Euro. Not too long ago, Greece was on the financial precipice. Amongst Greece’s problems were sky-high interest rates, low GDP, years of deficits, poor productivity, and … “All roads lead to Rome: Why is Italy on everyone’s mind?”
USD: NFP: Consistent With A Gradually Accelerating Inflationary Pressure – CIBC
The US Non-Farm Payrolls missed expectations with only 134K but other figures were more nuanced. What does it mean? Here is their view, courtesy of eFXdata: CIBC Research discusses the reaction to today’s US jobs report for the month of September. “Expectations had been raised by positive ADP and ISM surveys during the week, and … “USD: NFP: Consistent With A Gradually Accelerating Inflationary Pressure – CIBC”
Positive Macroeconomic Data Helps US Dollar End Week Strong
The US dollar ended the week as one of the strongest currencies on the Forex market, though the Great Britain pound outperformed the greenback. The Canadian dollar was also strong, while other commodity currencies were weak. The US currency was firm thanks for the most part to solid domestic macroeconomic data and rising Treasury yields. Mixed nonfarm payrolls hurt the greenback to some degree by the end of the week, but the currency remained strong overall. The US … “Positive Macroeconomic Data Helps US Dollar End Week Strong”
USDCHF Waiting on A Drop, Nasdaq for A Bounce – Elliott wave Analysis
Hi traders, USDCHF is currently unfolding an intra-day drop from the 0.9955 high, which can be first suggestion of a top in place. However, this weakness can also be a temporary minor corrective leg within blue wave v, in which case a new rally would take place. That said, if we get a further drop … “USDCHF Waiting on A Drop, Nasdaq for A Bounce – Elliott wave Analysis”
Japanese Yen Rises on Steady Economic Recovery Signals
The Japanese yen is rising modestly against its counterparts on Friday after new data suggests the countryâs economic recovery is holding steady. But the International Monetary Fund (IMF) issued a report that urged Tokyo to take a breather and not declare victory just yet. In August, household spending rose 2.8%, beating market forecasts of a 0.1% decline and recording the second consecutive month of gains. This is the fastest annual … “Japanese Yen Rises on Steady Economic Recovery Signals”
Bitcoin’s narrowing range implies imminent explosion, but to where to?
The BTC/USD had a week of consolidation, getting entrenched into a range. Comments by Mike Novogratz echoed but did not move prices. The technical picture is fully balanced, a situation which implies an explosion. Bitcoin had a stable start to the fourth quarter of the year, trading in a narrowing range. The most significant development … “Bitcoin’s narrowing range implies imminent explosion, but to where to?”
Positive Employment Report Fails to Boost Canadian Dollar
The Canadian dollar behaved similarly to its US counterpart, climbing after the release of a domestic employment report but pulling back later. That was surprising considering that Canada’s macroeconomic reports released today were universally good. The Statistics Canada reported that employment rose by 63,300 in September. That is compared to the increase by 25,000 predicted by analysts and the huge drop by 51,600 logged in August. The unemployment rate ticked down from … “Positive Employment Report Fails to Boost Canadian Dollar”