The Japanese yen is modestly strengthening against a basket of currencies on Tuesday, despite a fake news data scandal hitting Tokyo and economists increasing the odds of a recession hitting the worldâs third-largest economy. Japanâs economy is making history as it is experiencing the longest expansion phase since the end of the Second World War. Because of admirable domestic demand and an improving labor market, Tokyo is set to record its 74th straight month … “Japanese Yen Unfazed by Fake News Scandal, Recession Risks”
Month: January 2019
Pound Trades Within Tight Range Ahead of Key Brexit Plan B Debate
The British pound today traded in a consolidative range as markets await the Parliamentary vote on Theresa May‘s Brexit Plan B scheduled for later today. Today’s debate is quite important, but it is not a meaningful vote like the 15 January vote, which handed the UK government a historic defeat. The GBP/USD currency pair today … “Pound Trades Within Tight Range Ahead of Key Brexit Plan B Debate”
Why the Fed is all about the balance sheet and three scenarios for the outcome
The Federal Reserve is expected to leave its policy unchanged in the first meeting of 2019. The balance sheet reduction program is the center of attention. The US Dollar is already suffering, but explicit talk about a change is not priced in. The Federal Reserve announces its first decision of the year on Wednesday, January … “Why the Fed is all about the balance sheet and three scenarios for the outcome”
Canadian Dollar Weakens on Oil Crash, Poor Data
The Canadian dollar is kicking off the trading week falling against its major currency rivals. The loonie is getting battered on cratering crude oil prices, as well as poor economic data that suggests the country could be heading for a significant slowdown. Will the dollar continue to slide, or will it pull off an upset and surprise the experts? On Monday, March West Texas Intermediate (WTI) crude futures plummeted $1.68, or 3.13%, … “Canadian Dollar Weakens on Oil Crash, Poor Data”
Japanese Yen Logs Small Gains During Quiet Trading
The Japanese yen rose a bit during Monday’s quiet trading. With no major events or macroeconomic releases, markets were rather directionless today, though the rest of the week promises to be much more eventful. The Bank of Japan released minutes of its December monetary policy meeting. The notes did not provide many new insights. About the outlook for the economy, the minutes said: As for the outlook for the economy, members concurred that it was … “Japanese Yen Logs Small Gains During Quiet Trading”
Pound Starts Week on Soft Footing
The Great Britain pound was among the weakest currencies on the Forex market at the start of the trading week as traders were consolidating positions ahead of the crucial Brexit vote. After British lawmakers rejected the Brexit deal proposed by UK Prime Minister Theresa May and approved by the European Union, the threat of the no-deal Brexit became very serious. Tomorrow, the government and the parliament will yet again attempt to reach a compromise and avoid the hard Brexit. Meanwhile, the Sun … “Pound Starts Week on Soft Footing”
Crypto investors moving to Gold? Things are not looking good
Cryptos kick off the week with a kick lower on some negative headlines. The technical charts continue challenging digital coins. Here are the levels to watch according to the Confluence Detector. Cryptocurrencies are on the back foot, losing some ground in the wake of the new week. These are not plunges, but they are certainly … “Crypto investors moving to Gold? Things are not looking good”
US Government Shutdown Ends Temporarily, Dollar Unimpressed
The US dollar had muted reaction to the announcement of a stop-gap agreement between President Donald Trump and the Congress to end the government shutdown without funding the wall with Mexico. Trump said today: I am very proud to announce today that we have reached a deal to end the shutdown and re-open the federal government. The deal will result in government funding for three weeks till February 15. If by that time no longer-term deal … “US Government Shutdown Ends Temporarily, Dollar Unimpressed”
Pound Rallies on Hopes of Avoiding No-Deal Brexit
The Great Britain pound rose against its most-traded rivals today on hopes that the country will be able to avoid hard Brexit that can cause serious damage to Britain’s economy. The Sun newspaper reported that Northern Ireland’s Democratic Unionist Party had privately decided to back the Brexit deal proposed by UK Prime Minister Theresa May. In return, the DUP demands that the controversial Irish backstop should have … “Pound Rallies on Hopes of Avoiding No-Deal Brexit”
Canadian Dollar Strengthens As BOC Weighs Rate Hike
The Canadian dollar is strengthening against its US counterpart as the central bank hinted that a rate hike is on the table, but it depends entirely on economic data â both at home and abroad. The loonie has improved against the greenback so far this year, despite the Bank of Canada (BOC) taking a wait-and-see approach on interest rates. Rising crude oil prices are also helping lift the currency to finish off … “Canadian Dollar Strengthens As BOC Weighs Rate Hike”