The Canadian dollar is weakening to end the trading week as grim forecasts and disappointing numbers are sending the currency lower. The loonie was most impacted by a dovish central bank this week as interest rates were left unchanged and the governor sounding the alarm on the broader economy. The countryâs trade picture did not help matters. According to Statistics Canada, the countryâs merchandise trade deficit widened to a six-month in November. The statistics agency reported that … “Canadian Dollar Weakens on Grim Forecasts, Falling Oil Prices”
Month: January 2019
British Pound Rallies on Rumors That Brexit Would Be Delayed
The British pound today rallied higher against the US dollar in the European session on rumors that Brexit would be delayed. The GBP/USD had posted small gains after the release of mixed UK data where the GDP beat expectations, while manufacturing data missed estimates. The GBP/USD currency pair today rallied from a low of 1.2709 to … “British Pound Rallies on Rumors That Brexit Would Be Delayed”
Bitcoin buying opportunity? 3 reasons
BTC/USD fell back down after rising gradually. Interest from Russia and the upcoming launch of Bakkt provide hope. The charts show that Bitcoin is balanced. The grandaddy of cryptocurrencies climbed up gently and dropped back to the bottom of the apparent range. However, it refrained from diving back to the pre-holiday season lows. Here are three … “Bitcoin buying opportunity? 3 reasons”
CAD: Oil Prices Set For Further Recovery Towards An Average Of USD65/bbl in Q1 – Danske
The Canadian dollar gained some ground with the recovery in oil prices. Where can it go? Here is their view, courtesy of eFXdata: Danske Research discusses the oil prices outlook and projects further recovery ahead which should be CAD positive, keeping USD/CAD under pressure in Q1. “The price on Brent crude rose above USD60/bbl yesterday. Oil … “CAD: Oil Prices Set For Further Recovery Towards An Average Of USD65/bbl in Q1 – Danske”
USD/JPY finds new reasons to fall
USD/JPY fell again, this time due to the dollar’s weakness US retail sales and politics will take center-stage. The technical picture is bearish for the pair. This was the week: Fed goes dovish After Powell offered patience and opened the door to changing the balance sheet policy, Fed officials took further steps to the dovish … “USD/JPY finds new reasons to fall”
GBP/USD looks attractive as prospects of an Article 50 delay rise
The UK government and parliament are “boxed in” with 78 days until Brexit. There are growing chances of delaying Article 50. GBP/USD could benefit from kicking the can down the road. The UK government lost two procedural votes related to the all-important Brexit vote on January 15th. It is hard to see how OM Theresa … “GBP/USD looks attractive as prospects of an Article 50 delay rise”
US Dollar Rebounds on Comments of Fed Chair Powell
The US dollar gained against its most-traded rivals today following yesterday’s losses caused by dovish monetary policy minutes released by the Federal Reserve. Market analysts explained the rebound by comments from Fed Chairman Jerome Powell. Yesterday, the Fed released minutes of its December monetary policy meeting. Markets considered the notes to be more dovish than expected. In particular, the central bank hinted that it can be patient … “US Dollar Rebounds on Comments of Fed Chair Powell”
Canadian Dollar Firm on Positive Macroeconomic Data
The Canadian dollar performed fairly well today thanks to positive domestic macroeconomic data and rebounding crude oil prices. The currency fared far worse yesterday, falling after the monetary policy meeting of the Canadian central bank. Statistics Canada reported that the number of building permits rose 2.6% in November from October after falling 0.4% in the previous month. Experts had predicted a 0.5% decline. Meanwhile, the New Housing Price Index … “Canadian Dollar Firm on Positive Macroeconomic Data”
Chinese Yuan Rises on Slowing Inflation, New Stimulus Measures
The Chinese yuan is gaining against its US counterpart on Thursday on slowing inflation and recent measures by the federal government to stimulate the economy. But as Beijing employs more initiatives to spur growth, some analysts are sounding the alarm about the worldâs second-largest economy pushing new âuntestedâ policies that may or may not achieve growth officials want. According to the National Bureau of Statistics, producer inflation climbed less than expected … “Chinese Yuan Rises on Slowing Inflation, New Stimulus Measures”
Euro Falls From Highs Triggered by Dovish Fed as US Dollar Rebounds
The euro today rallied higher against the US dollar in the early Asian session following yesterday’s dovish FOMC minutes and Fed comments. The single currency soon headed lower as the US dollar staged a rebound boosted by the risk averse market sentiment as the optimism around the US-China trade talks faded. The EUR/USD currency pair … “Euro Falls From Highs Triggered by Dovish Fed as US Dollar Rebounds”