The Indian rupee is ceding ground to the US Dollar. There are three primary drivers behind the move. The technical picture is bullish for USD/INR. The Indian rupee is falling against the against the US Dollar. At the time of writing, USD/INR is around 71.75 after hitting a daily high of 71.90. The pair is … “3 reasons why the Indian rupee is falling”
Month: February 2019
AUD/USD could fall if RBA acknowledges worsening conditions
The RBA reconvenes after the summer break, and the world has changed since early December. No change is likely, but a more dovish tone is undoubtedly possible. The recent Fed-fueled rally means a negative tone is not priced in. The Reserve Bank of Australia announces its decision on Tuesday, February 5th, at 3:30 GMT. The … “AUD/USD could fall if RBA acknowledges worsening conditions”
Pound Declines on Weak Construction PMI and Brexit Concerns
The Sterling pound declined today as markets remained cautious amid Brexit concerns as EU leaders continue to reject the UK’s alternative Brexit Plan B. The pound was dealt a further blow after the UK construction PMI missed expectations indicating that the industry grew much slower than expected. The GBP/USD currency pair today dropped from a … “Pound Declines on Weak Construction PMI and Brexit Concerns”
NZ Dollar Mixed amid Quiet Lunar New Year Trading
The New Zealand dollar was mixed on Monday, falling against such major currencies like the US dollar and the euro but rising versus safe currencies like the Japanese yen and the Swiss franc. Unlike its Australian counterpart, the New Zealand dollar got support from positive domestic macroeconomic data as the Statistics New Zealand reported that the seasonally adjusted number of building permits rose 5.1% in December from the previous month, … “NZ Dollar Mixed amid Quiet Lunar New Year Trading”
Australian Dollar Soft on Poor Housing Data, Other Reports
The Australian dollar traded flat-to-lower today after the release of underwhelming macroeconomic reports in Australia. Economic data in China, Australia’s biggest trading partner, was neutral, having a limited impact on the currency. The biggest negative impact perhaps had the building permits report from the Australian Bureau of Statistics, which showed a drop by 8.4% in December from the previous month on a seasonally adjusted basis, which followed the 9.8% decline in November (revised, 9.1% before … “Australian Dollar Soft on Poor Housing Data, Other Reports”
BOE preview: Carney can cause carnage with contingencies
The Bank of England makes its rate decision and publishes new forecasts precisely 50 days before Brexit Day. Growing uncertainty about the historic departure is set to paralyze any new decisions. However, Governor Carney can surprise markets by changing assumptions or ramping up contingency plans. This is a “Super Thursday.” In addition to the regular … “BOE preview: Carney can cause carnage with contingencies”
US Dollar Ends Week with Losses due to Dovish Fed
The US dollar fell against most of major counterparts during the past trading week largely due to the relatively dovish stance of the Federal Reserve. The losses were not particularly big, though. In its statement, the Fed talked about being “patient” in adjusting monetary policy. That led to to speculations that the central bank will delay additional interest rate hikes and may perform fewer hikes this year than was previously … “US Dollar Ends Week with Losses due to Dovish Fed”
Canadian Dollar Rallies on Rising Oil Prices, Mixed US NFP
The Canadian dollar rose against its US counterpart today due to the mixed US nonfarm payrolls. The loonie gained on other most-traded rivals as well, most likely thanks to the strong rally of crude oil prices. Domestic macroeconomic data did not help the currency, being rather underwhelming. The official US employment report showed strong growth of employment, but other parts of the report were weak, with an unexpected rise of the unemployment … “Canadian Dollar Rallies on Rising Oil Prices, Mixed US NFP”
Can CAD continue higher? Jobs will have their say
USD/CAD fell sharply on US Dollar weakness and recovering oil prices. The jobs report stands out in the first full week of February. The technical picture is bearish for the pair. This was the week: Dovish Fed dominates The US Federal Reserve made a dovish shift, saying it will be patient with raising rates. Also, … “Can CAD continue higher? Jobs will have their say”
GBP/USD at the mercy of Brexit and the BOE cannot help
GBP/USD was remarkably stable amid Fed and Brexit turbulence. The BOE and quarterly GDP stand out in a busy week. The technical picture remains bullish for the pair. Experts are bearish in the short and medium terms. This was the week: Trying to renegotiate Brexit and the Fed doves The UK Parliament debated amendments to … “GBP/USD at the mercy of Brexit and the BOE cannot help”