USD/CAD advanced on weak Canadian data, as oil failed to advance. Canadian GDP stands in a week dominated by the Fed. The technical picture is mixed for the pair. This was the week: Weak data all around The Canadian Dollar was on the back foot as data missed expected. Manufacturing Shipments fell by 1.4%, Wholesale … “CAD stalled with oil, GDP in the limelight now”
Month: January 2019
USD/JPY will not stay in range for too long with the Fed and the NFP
USD/JPY consolidated in range amid stuck negotiations. The Fed and the Non-Farm Payrolls promise action as January ends. The technical picture is mixed for the pair. This was the week: All the negotiations are stuck Negotiations between the US and China did not go anywhere fast. It culminated with reports that some talks were canceled, … “USD/JPY will not stay in range for too long with the Fed and the NFP”
Bitcoin ignores bad news, time to rise?
BTC/USD had a week of consolidation amid negative news. The ongoing US government shutdown puts a Bitcoin ETF approval on ice. The technical picture is balanced for Bitcoin. Cryptocurrencies suffered a mini “flash crash” early in the week. The move sent BTC/USD to a low point of $3,433 but the granddaddy of digital coins bounced … “Bitcoin ignores bad news, time to rise?”
3 reasons why the dollar is down
The US Dollar is falling with significant drops against commodity currencies. The arrest of former Trump adviser Stone and reports about the Fed’s dovishness weigh. The ongoing shutdown does not help, and there’s no end in sight. The US Dollar is falling against the recovering euro and more prominently against commodity currencies. It does not … “3 reasons why the dollar is down”
Euro Keeps Rising From 5-Week Lows Despite Mixed German IFO Data
The euro today rallied from 5-week lows hit yesterday following the ECB monetary policy decision and the balanced policy stance outlined by Mario Draghi. The EUR/USD currency pair’s rally started in the Asian session driven by a shift in investor sentiment and also as a pullback from yesterday’s crash. The EUR/USD currency pair today rallied … “Euro Keeps Rising From 5-Week Lows Despite Mixed German IFO Data”
Australian Dollar Gains After Falling on Thursday
The Australian dollar rose today, gaining on most major currencies, with the exception of the euro. While no macroeconomic data was released in Australia today, several reports came out yesterday, including the extremely positive employment report. The Australian Bureau of Statistics reported that the seasonally adjusted number of employed persons in Australia increased by 21,600 in December from the previous month. Experts had predicted a smaller figure of 17,300. Furthermore, the November increase … “Australian Dollar Gains After Falling on Thursday”
Japanese Yen Declines Even as Inflation Beats Expectations
The Japanese yen fell today, demonstrating the weakest performance among the major currencies, despite the better-then-expected inflation report. Analysts blamed the risk-on market sentiment for the decline. The Tokyo core Consumer Price Index rose 1.1% in January, year-on-year, while economists had predicted the same 0.9% rate of growth as in December. Released yesterday, the Nikkei Flash Japan Manufacturing PMI showed a drop to 50.0 in January from 52.6 in December, whereas experts had … “Japanese Yen Declines Even as Inflation Beats Expectations”
EUR: The ECB Effectively Closed The Door For Rates ‘Lift-off’ Under Draghi’s Watch – SEB
The ECB left its policy measures unchanged and acknowledged the slowdown. However, Draghi remained optimistic about wages. What’s next? Here is their view, courtesy of eFXdata: “As expected, today’s ECB (interim) meeting delivered no monetary policy changes. All policy parameters including the wording of forward guidance remained unchanged. Contrary to our expectation, however, the ECB … “EUR: The ECB Effectively Closed The Door For Rates ‘Lift-off’ Under Draghi’s Watch – SEB”
Euro Hits Weekly Lows on Weak PMIs, Rallies on Draghi Speech, Later Declines
The euro today fell to new weekly lows in the early European session following the release of weak PMI prints from across the eurozone by IHS Markit. The single currency later rebounded following the announcement of the European Central Bank’s monetary policy decision and a balanced speech by the ECB Governor. The EUR/USD currency pair today fell … “Euro Hits Weekly Lows on Weak PMIs, Rallies on Draghi Speech, Later Declines”
US Dollar Flat As Market Weighs Influx of Data
The US dollar is trading sideways on Thursday as investors comb through the recent data. The greenback has been trading at multi-week highs in recent trading sessions, looking to maintain the momentum from 2018 when it advanced about 5% on the year. According to the Department of Labor, the number of US workers applying for … “US Dollar Flat As Market Weighs Influx of Data”