The Australian dollar surged after release of a domestic employment report even though the data was mixed. By now, though, the currency has lost its gains, trading below the opening level against its most-traded rivals. The Australian Bureau of Statistics reported that the number of employed persons in Australia rose by just 4,600 in February from the previous month, seasonally adjusted, after increasing as much as 38,300 in January. Analysts had predicted a substantially … “Australian Dollar Surges After Employment Report, Loses Gains Later”
Month: March 2019
Euro Surges on Dovish Fed, Capped by Debt Warnings
The euro is rallying against a basket of major currencies on Thursday, buoyed by a dovish Federal Reserve. The gains were capped by a new report that sounded the alarm about public debt binges that threaten the stability of the currency. On Wednesday, the US central bank left its benchmark fed funds rate in the 2.25% to 2.5% range. It also reaffirmed its dovish stance by confirming it plans to raise interest rates just once … “Euro Surges on Dovish Fed, Capped by Debt Warnings”
3 ways Brexit can go and the potential GBP/USD reactions
GBP/USD is back down, failing to take advantage of the Brexit chaos weighs. Eight days to go, there are three scenarios left. The technical picture is worsening for the pair which is nearing oversold territory. GBP/USD is trading back below 1.3200 as the Brexit uncertainty continues. The state of Brexit On Wednesday, UK PM Theresa May … “3 ways Brexit can go and the potential GBP/USD reactions”
Canadian Dollar Soft, Ignores Sharp Rise of Crude Oil Prices
The Canadian dollar fell against most of its major peers on Wednesday, with the exception of the US dollar. That was surprising, considering that fundamentals did not look particularly bad for the currency. Prices for crude jumped more than 1% on Wednesday after a surprise big drop of US oil inventories. Usually, the Canadian currency follows moves of prices for Canada’s major export commodity. But that was not the case today. … “Canadian Dollar Soft, Ignores Sharp Rise of Crude Oil Prices”
NZ Dollar Jumps Sharply After Release of New Zealand GDP
The New Zealand dollar was falling for the most part of the Wednesday’s session, rebounding for a short time after the US Federal Reserve turned out to be surprisingly dovish. Yet the kiwi jumped sharply by the end of the session after the release of New Zealand’s gross domestic product. Statistics New Zealand reported that GDP rose 0.6% in the December quarter from the previous three months following the 0.3% growth in the September quarter. The actual reading … “NZ Dollar Jumps Sharply After Release of New Zealand GDP”
US Dollar Falls As âPatientâ Fed Signals One Rate Hike in 2019
The US dollar is holding steady midweek as the Federal Reserve concluded its two-day policy meeting. The US central bank did not pull off any surprises on Wednesday, signaling that it has become far more bearish than in previous meetings, whether it relates to policy maneuvers or economic estimates. According to the Fedâs new dot plot, Chair Jerome Powell confirmed that it plans just one … “US Dollar Falls As âPatientâ Fed Signals One Rate Hike in 2019”
Pound Slumps on Short Brexit Extension Request, Mixed CPI Data
The British pound today fell to new 1-week lows against the US dollar after the UK Prime Minister confirmed that she had requested for a short Brexit extension from the EU. The GBP/USD currency pair had traded sideways before heading lower amid mostly neutral investor sentiment and a positive reaction to the latest UK inflation … “Pound Slumps on Short Brexit Extension Request, Mixed CPI Data”
Buying opportunity on GBP/USD? This anarchy could turn positive
GBP/USD dropped on May’s request for a short extension. The EU’s cold response added additional pressure. Things can turn around quite quickly and may provide a buying opportunity on cable. Under pressure from Brexit-supporting ministers, UK PM Theresa May asked for a short extension to Article 50: only up to June 30th. The embattled PM would … “Buying opportunity on GBP/USD? This anarchy could turn positive”
BOE could impact GBP/USD despite Brexit, in two different ways
The BOE is set to leave its policy unchanged amid high Brexit uncertainty. Upbeat economic data make a case for a rate hike after we get Brexit certainty. Comments in the meeting minutes can impact the pound in the short term and affect the future moves. The Bank of England makes its rate decision on Thursday, March … “BOE could impact GBP/USD despite Brexit, in two different ways”
Yen Soft Following Release of BoJ Minutes
The Japanese yen fell slightly today following the release of minutes of the monetary policy meeting by the Bank of Japan. The BoJ released minutes of its January monetary policy meeting today. The notes showed that policy makers planned to maintain the current extremely accommodative policy in the near future: Most members shared the recognition that, although it would take time to achieve the 2 percent price stability target, it was appropriate to persistently … “Yen Soft Following Release of BoJ Minutes”