The Sterling pound today traded mostly sideways against the US dollar as it solidified gains made from yesterday’s 10-week lows as the Brexit impasse continued. The GBP/USD currency pair dropped lower following the release of US Q1 GDP data before quickly reversing the losses and printing new daily highs driven by positive investor sentiment. The GBP/USD … “Pound Posts Gains Despite Brexit Pessimism and Upbeat US GDP”
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Turkish Lira Falls for Seventh Session After Central Bank Disappoints
The Turkish lira fell today, extending its decline for the seventh consecutive trading session, after Turkey’s central bank disappointed market participants by yesterday’s monetary policy statement. The Central Bank of the Republic of Turkey left its interest rates unchanged at yesterday’s monetary policy meeting. The bank said in the statement: The Committee has decided to maintain the tight monetary policy stance until inflation outlook displays a significant improvement. Traders were disappointed … “Turkish Lira Falls for Seventh Session After Central Bank Disappoints”
4 reasons for the post-GDP USD fall and why it can make a comeback
US GDP grew by an impressive 3.2%, with less impressive components. A rate hike seems less likely after the release. The US Dollar dropped but has room to rise The US economy grew by an annualized rate of 3.2% in Q1 2018 according to the initial release. The figure came out above the official expectations … “4 reasons for the post-GDP USD fall and why it can make a comeback”
Japan’s Macroeconomic Data Mixed, Yen in Red
The Japanese yen traded broadly in red today as the market sentiment favored riskier currencies, not safer ones. Japan’s domestic macroeconomic data was mixed, giving the currency no direction. On the positive side, the Tokyo core Consumer Price Index rose 1.3% in April from a year ago, while analysts had expected the same 1.1% rate of growth as in March. Retail sales climbed 1.0% in March, year-on-year, exceeding the consensus forecast … “Japan’s Macroeconomic Data Mixed, Yen in Red”
NZ Dollar Gains on Market Sentiment, Record Exports
The New Zealand dollar gained today, rising for the second day and joining other commodity currencies in a rally. In general, currencies linked to raw materials were firm today as the market sentiment stabilized, though the positive domestic macroeconomic data also helped the kiwi. Statistics New Zealand reported that the trade balance logged a surplus of NZ$922 million in March, which was far above the median forecast of NZ$131 million. The balance showed a deficit … “NZ Dollar Gains on Market Sentiment, Record Exports”
USD/JPY Hits Resistance
The US dollar versus the Japanese yen dropped after reaching the important 112.20 resistance area and printed a clear bearish engulfing that just might change the expected outcome. Long-term perspective The pair is in an ascending move starting at the 106.92 support area. Beginning with this appreciation phase, the first attempt to cross the 112.20 level was on March 5, 2019, when the price failed to confirm it as a support and retraced to 110.27. From … “USD/JPY Hits Resistance”
EUR/USD: Tactically Bearish For A Retest Of 1.10 & 1.09 Near-Term – MUFG
EUR/USD is trying to recover after falling to the lowest levels since June 2017. But it still remains under pressure. Here is their view, courtesy of eFXdata: MUFG Research discusses EUR/USD outlook and adopts a tactical bearish bias, expecting the pair to trade with a downward direction in 1.1300-1.0900 range in the near-term. “The euro has … “EUR/USD: Tactically Bearish For A Retest Of 1.10 & 1.09 Near-Term – MUFG”
Swiss Franc Rebounds on Improved Economic Sentiment, Global Cues
The Swiss franc is rebounding on Thursday after being the worst performing major currency in April. Posting huge losses against some of its most publicly traded rivals, the franc is taking a breather and recording modest gains towards the end of the trading week. With very little domestic economic data, the franc is taking its direction on global cues. The Switzerland Economic Sentiment Index, a gauge of investor outlook, came in at -7.7 … “Swiss Franc Rebounds on Improved Economic Sentiment, Global Cues”
Euro Near 22-Month Lows as the Eurozone Economy Slows Down
The euro today traded near 22-month lows against the US dollar as investors remained worried about the state of most euro area economies. The lack of releases from the eurozone docket also contributed to the EUR/USD currency pair’s decline amid mixed releases from the US docket. The EUR/USD currency pair today fell from a session … “Euro Near 22-Month Lows as the Eurozone Economy Slows Down”
Pound Falls Against US Dollar on Brexit Uncertainty, Later Recovers
The British pound today fell against the US dollar driven by uncertainty regarding Theresa May‘s leadership amid rumors that she could face a leadership challenge. The GBP/USD currency pair later recovered after it emerged that the Prime Minister was safe from an internal leadership contest, which reassured investors. The GBP/USD currency pair today fell from a session high of 1.2918 to a low … “Pound Falls Against US Dollar on Brexit Uncertainty, Later Recovers”