GBP/USD has fallen sharply but may extend its falls according to experts. Things may substantially improve afterward. The FXStreet Forecast Poll provides in-depth sentiment for selected financial assets. GBP/USD may find a bottom sooner rather later. The FXStreet Forecast Poll shows that experts have responded to the recent downfall in pound/dollar by cutting their short-term target … “GBP/USD may fall a bit more but then rally hard”
Author: admin_mm
USD/JPY in a Bearish Profile from 110.62
The US dollar versus the Japanese yen currency pair tried to establish an ascending move, but to no avail as the 110.27 resistance is heavily defended by the bears. Long-term perspective After the bearish confirmation of the important resistance area of 112.20 on April 25, 2019, the price dropped and printed a new low as it almost touched 108.90. From there, an appreciation emerged, but it was a short lived one as 110.27 forced the print of a lower … “USD/JPY in a Bearish Profile from 110.62”
Canadian Dollar Weakens Despite Ottawa Tabling USMCA Ratification
The Canadian dollar is weakening against major currencies on Tuesday, despite the federal government tabling a motion that would ratify the historic US-Mexico-Canada Agreement, or USMCA. But the loonie might be losing traction because the Bank of Canada (BOC) is not expected to raise interest rates until after the federal election in October. Foreign Affairs Minister Chrystia Freeland tabled a ways and means motion in the House of Commons that kicks off … “Canadian Dollar Weakens Despite Ottawa Tabling USMCA Ratification”
Euro Trades Flat As EU Leaders Meet to Discuss Top Jobs, Later Falls
The euro today dropped briefly against the US dollar in the Asian session before recovering and trading flat during the European session as the new EU leaders met to discuss top positions in the organization. The EUR/USD currency pair later fell back to its daily lows in the American session following the release of upbeat US consumer confidence … “Euro Trades Flat As EU Leaders Meet to Discuss Top Jobs, Later Falls”
Yen Flat as Trump Visits Japan
The Japanese yen was largely flat against most of its major peers on Monday. While market participants were somewhat nervous after US President Donald Trump said that the United States are not ready for a trade deal with China, the US dollar was the beneficiary of the resulting risk aversion, not the yen. Trump was visiting Japan on Monday, hoping to reach a trade deal that will reduce the US … “Yen Flat as Trump Visits Japan”
Chinese Yuan Rises on Confidence, CBIRC Warning of âHeavy Lossesâ for Bears
The Chinese yuan is rising to kick off the trading week, buoyed by stronger confidence in the worldâs second-largest economy and a strong warning from the nationâs top banking regulator for the currency bears. But the rally was capped by disappointing economic data and worsening trade relations with the US. Speaking at a Beijing finance forum on Monday, the head of the China Banking and Insurance Regulatory Commission (CBIRC) said that he does not anticipate a persistent and long-term … “Chinese Yuan Rises on Confidence, CBIRC Warning of âHeavy Lossesâ for Bears”
US Dollar Rallies After Trump Says USA “Not Ready” for Trade Deal
The US dollar rallied against its major peers today after news about the US-China trade war reinforced the view that the world’s two biggest economies will not reach a trade deal anytime soon. US President Donald Trump said today that the USA are not ready to make a deal with China: I think they probably wish they made the deal that they had on the table … “US Dollar Rallies After Trump Says USA “Not Ready” for Trade Deal”
Pound Faces Sell-Off After European Elections
The Great Britain pound faced a sell-off again after the European elections over the weekend. The outcome of the voting showed a surge of support for the Brexit party, increasing chances of a “no-deal Brexit”. Nigel Farage’s Brexit Party won majority of votes in every region of England, except for London, securing 29 of 70 seats in the European Parliament. It is important to note that the pro-Remain Liberal Democrats came second with 16 seats. Britain’s two … “Pound Faces Sell-Off After European Elections”
Euro Drops Despite Pro-EU Parties Retaining Majority in EU Elections
The euro today fell against the US dollar despite pro-EU parties securing majority of the Parliamentary seats in the recently concluded election. The EUR/USD currency pair today fell from its Asian session highs and dropped to daily lows where it traded sideways for the rest of the day. The EUR/USD currency pair today fell from … “Euro Drops Despite Pro-EU Parties Retaining Majority in EU Elections”
BOC: USD/CAD set to move on 3 factors
The Bank of Canada is set to leave interest rates unchanged at 1.75%. Investors will look for hints for the next change in interest rates. The bank’s opinions on interest rates, the recent jobs report, and comments on trade will play a key role. Trading the Canadian dollar has not been easy of late as … “BOC: USD/CAD set to move on 3 factors”