The US Dollar is eagerly awaiting the Fed decision. How will the greenback respond? Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch Research discusses its expectations for the FOMC policy meeting on Wednesday. “As widely expected, we expect the FOMC to stay on hold at the conclusion of the 30 April-1 May meeting. The Fed should deliver a balanced message on … “USD: FOMC On Hold With A Balanced Message; Expected USD Response – BofAML”
Author: admin_mm
AUD/NZD Follows the Plan and Confirms 1.0546 Support
The decline that started around 1.0700 on the Australian dollar versus the New Zealand dollar currency pair looks like it is making the first step towards confirming a weekly major support area. Long-term perspective After the rally that started at 1.0300 and pierced the resistance of the descending trend managed to continue without looking back until it touched the 1.0666 second weekly major support, the price corrected in the form of a retracement to the first … “AUD/NZD Follows the Plan and Confirms 1.0546 Support”
Canadian Dollar Weakens on Shrinking Economy, Business Sentiment
The Canadian dollar is weakening on Tuesday after new data showed that the economy contracted in February, reducing some of its gains in January. Thanks to sluggish resource output, analysts are beginning to forecast an economic slump in the first quarter. This could explain why there is declining business sentiment nationwide. According to Statistics Canada, the gross domestic product (GDP) slipped 0.1% in February, down from the 0.3% gain in January. … “Canadian Dollar Weakens on Shrinking Economy, Business Sentiment”
Euro-zone GDP expectations may be too high – watch EUR/USD
Euro-zone growth is expected to have picked up in Q1. While there are some green shoots, real improvement is unlikely. EUR/USD has room to fall if growth remains sluggish. The euro-zone publishes the preliminary read of Q1 GDP on Tuesday, April 30th, at 9:00 GMT. The old continent markedly slowed down in 2018 after enjoying … “Euro-zone GDP expectations may be too high – watch EUR/USD”
Chinese Yuan Weakens As Industrial Profits Soar
The Chinese yuan traded broadly to kick off the trading week as the worldâs second-largest economy finally received some positive economic news after more than a year of downbeat data and sentiment. Is China on the cusp of turning it around and kickstarting the economy? In March, Chinaâs industrial companies recorded their biggest profits in eight months. According to the National Bureau of Statistics, industrial profits climbed by 13.9% year on year last month to $87.5 … “Chinese Yuan Weakens As Industrial Profits Soar”
Euro Drops on Weak Business Climate, Gains on Mixed US Inflation
The euro today posted gains against the US dollar following the release of weak US inflation data in the early American session. The EUR/USD currency pair today fell from session highs following the release of weak eurozone business climate data in the early European session. The EUR/USD currency pair today traded mostly in a range marked by a high of 1.1167 and a low of 1.1143 and was trading at the top of this range at the time of writing. The currency … “Euro Drops on Weak Business Climate, Gains on Mixed US Inflation”
GBP/USD is waiting for two hammers to fall
GBP/USD fell sharply on USD strength, Brexit impasse. Brexit partially gives way to the Bank of England’s Super Thursday. The technical picture is bearish for the pair. Experts are bearish in the short term but bullish afterward. This was the week: Succumbing to USD strength Parliament returned, but not much happened in cross-party talks between … “GBP/USD is waiting for two hammers to fall”
CAD/JPY Consolidating Just Above 82.71
The Canadian dollar versus the Japanese yen dropped from 83.81 after a failed attempt to confirm the level as a support. Long-term perspective Unfortunately for the advancement that began at the solid support area of 81.38, there were at least two signs that the bears would drive the price lower: the hanging-man on April 14, 2019, and the bearish engulfing on April 23, 2019. The price now paused its decline just above the intermediary level 82.71, this … “CAD/JPY Consolidating Just Above 82.71”
Chinese Yuan Rises As Industrial Output, Stimulus Boost Economy
The Chinese yuan is rallying at the end of the trading week, buoyed by better industrial output and continued stimulus by the federal government. Despite Beijing noting that economic growth is improving, analysts are still encouraging the government to maintain its interventionist policies â both monetary and fiscal. Industrial production is surging in the worldâs second-largest economy. One area in particular is turning investors’ heads: cement output. In March, China produced … “Chinese Yuan Rises As Industrial Output, Stimulus Boost Economy”
Swedish Krona Rises for First Day in Five After Economic Data
The Swedish krona rose today after falling for four days in a row. Decent domestic macroeconomic data helped the currency. Sweden’s retail sales rose 0.5% in March from the previous month on a seasonally adjusted basis, accelerating its rate of growth from February’s 0.3% and beating market expectations of 0.2%. Year-on-year though, the rate of growth slowed to 1.9% in March from 3.2% in February, missing the consensus forecast of 2.8%. The Producer Price Index … “Swedish Krona Rises for First Day in Five After Economic Data”