The Swedish krona tanked against other currencies today after Sweden’s central bank signaled that the planned interest rate hike will happen later than it was previously expected. The Riksbank left its main interest rate unchanged at -0.25%. The bank signaled that it is delaying the hike: The Executive Board has decided to hold the repo rate unchanged at â0.25 per cent and assesses that the rate will … “Swedish Krona Tumbles After Central Bank Delays Rate Hike”
Author: admin_mm
Japanese Yen Strongest on FX Market Despite BoJ Statement
The Japanese yen was the strongest major currency today despite pledge of Japan’s central bank to keep monetary policy extra loose for at least a year. As was widely expected, the Bank of Japan kept its monetary policy unchanged at today’s meeting. The bank said in the statement: The Bank intends to maintain the current extremely low levels of short- and long-term interest rates for an extended period of time, at least through around spring 2020, taking … “Japanese Yen Strongest on FX Market Despite BoJ Statement”
Elliott wave Analysis: S&P500 and USDJPY Intra-day View
Good morning traders, Stocks are coming down a little, but not much, so we see the SP500 in sub-wave four which may see support at the recent swing high, so ideally there is going to be another push higher up to 2960. Only a decline below 2900 May suggests that a temporary top is already … “Elliott wave Analysis: S&P500 and USDJPY Intra-day View”
Euro Falls on Rising US-German Yield Spread and Weak German IFO
The euro today fell for the second straight session against the US dollar as the German business climate deteriorated more than expected. The EUR/USD currency pair’s decline was further accelerated by the risk-off market sentiment triggered by falling equity indices earlier today. The EUR/USD currency pair today fell from a session high of 1.1224 to hit a low of 1.1180 in the early … “Euro Falls on Rising US-German Yield Spread and Weak German IFO”
Canadian Dollar Plunges As BOC Abandons Bias for Future Rate Hikes
The Canadian dollar is sliding midweek after the central bank removed its bias about future increases to interest rates as the economic slowdown intensifies. This has left the market betting that there will not be a rate hike until at least sometime next year. While it did pledge to adapt monetary policy to incoming data, it does not anticipate substantial growth anytime soon. On Wednesday, Bank … “Canadian Dollar Plunges As BOC Abandons Bias for Future Rate Hikes”
NZ Dollar Follows Australian Dollar in Decline
The New Zealand dollar dropped today, following the Australian dollar in decline. While today there were no events specific for the currency of New Zealand, market analysts pointed out that moves of the Aussie and the kiwi usually correlate, and this can explain why the New Zealand dollar behaved similarly to its Australian counterpart during the current trading session. Of course, the kiwi has its own negative factor in the form of the outlook for an interest … “NZ Dollar Follows Australian Dollar in Decline”
Aussie Sinks After Inflation Misses Expectations
The Australian dollar sank today after inflation data missed market expectations, fueling speculations about a potential interest rate cut from the Reserve Bank of Australia. The RBA reported that the Consumer Price Index was unchanged in the March quarter of this year after rising 0.5% in the December quarter of the previous year. Market participants were hoping for at least a 0.2% increase. The trimmed mean CPI rose 0.3%, while economists were … “Aussie Sinks After Inflation Misses Expectations”
Consolidations on NZD/CAD
The New Zealand dollar versus the Canadian dollar is sitting in a very interesting spot. Long-term perspective The current phase is a consolidation that started at 0.9255, marking at least a pause of the rally etched at 0.8321. It is important to take note of the landmarks that the price projected during this upwards move. These can be categorized into two important levels and two intermediary levels. The important ones are represented by 0.8692 … “Consolidations on NZD/CAD”
Canadian Dollar Slumps to Four-Week Low Ahead of BOC Rate Decision
The Canadian dollar weakened to a four-week low on Tuesday ahead of the Bank of Canada (BOC)âs decision on interest rates. The market is anticipating a prolonged pause to rate hikes, which suggests that officials are not confident that the economy can withstand a move to normalize monetary policy. Investors also traded the loonie on rallying energy prices, as well as data that showed nearly half of Canadians are on the brink of insolvency. On Wednesday, the central bank … “Canadian Dollar Slumps to Four-Week Low Ahead of BOC Rate Decision”
Pound Trades at 2-Month Lows Against Resurgent US Dollar
The Sterling pound today traded at 2-month lows against the US dollar as European markets reopened following the long Easter weekend. The GBP/USD currency pair today fell to new lows as the greenback rallied higher in the American session amid a lack of releases from the UK docket. The GBP/USD currency pair today fell from … “Pound Trades at 2-Month Lows Against Resurgent US Dollar”