The Australian dollar rose against its most-traded rivals today, supported by domestic macroeconomic data and other positive fundamentals. There were negative factors as well, but positive ones had ultimately bigger impact. The Australian Bureau of Statistics reported that the seasonally adjusted number of lending commitments to household rose 2.6% in February following the 2.3% drop in January. Analysts had predicted a drop by 3.0%. Market analysts speculated that the recent … “Australian Dollar Gets Boost from Housing Data & Crude Oil”
Author: admin_mm
Euro Rallies to New Monthly Highs Amid Stable Market Environment
The euro today rallied to new April highs against the US dollar driven largely by positive investor sentiment amid a calm market environment. The EUR/USD currency pair today rallied higher boosted by the selling pressure around the greenback and the shrinking yield spread between US and German bonds. The EUR/USD currency pair today rallied from … “Euro Rallies to New Monthly Highs Amid Stable Market Environment”
Japanese Yen Mixed As Markets Try to Make Sense of Economy
The Japanese yen is mixed against a basket of currencies to start the trading week as traders try to make sense of the economy. It is a case of is Japan in a recession or is the economy already recovering? Policymakers cannot seem to determine what is going on in Tokyo, and the recent influx of data is not helping investors make a concrete bet on or against the worldâs third-largest economy. According to the Ministry of Finance, Japan recorded a 25.3% jump in its … “Japanese Yen Mixed As Markets Try to Make Sense of Economy”
3 scenarios for the critical EU Brexit Summit
EU Leaders convene in a special summit to decide on Brexit. There are three very different options on the table. European Council President Donald Tusk called an extraordinary leaders summit with only one topic on the agenda: Brexit. The ministers will convene on Wednesday, April 10th, from 16:00 GMT. They will meet two days before the … “3 scenarios for the critical EU Brexit Summit”
US Dollar Forecast for Week of April 8-12
The US dollar ended the past trading week relatively flat. What factors will drive the US dollar over the current week and what traders can expect from the greenback? One of the major events for the US currency during the week will be the release of monetary policy meeting minutes by the Federal Reserve. While the Fed did not change its monetary policy at the latest gathering, it shocked markets by dropping plans for hiking … “US Dollar Forecast for Week of April 8-12”
Hidden False Break on GBP/AUD
The recent break of the 1.8457 support area on the Great Britain pound vs. Australian dollar has the trails of an unsustainable move for the bears. Long-term perspective The ascending trend that began on the debut of 2019, from 1.7213, looks as if it is over. Such a conclusion can be easily drawn after acknowledging the break of two obvious support lines, the confluence of which consolidate an important support area. These two lines are the support … “Hidden False Break on GBP/AUD”
Aussie Ends Week Flat, Rebounding After Decline
The Australian dollar fell during the past trading week but bounced by the weekend to end week about flat. The currency got support from risk appetite on the Forex market as well as other positive fundamental factors. One of the major sources of the Aussie’s strength was the string of positive macroeconomic reports in China, Australia’s biggest trading partner. Australia’s retail sales were very supportive to the currency as well. Hopes for a positive outcome of the Sino-US trade … “Aussie Ends Week Flat, Rebounding After Decline”
Can the USD/JPY rally continue? The Fed has the keys
USD/JPY enjoyed a rally thanks to a calmer market mood. The FOMC minutes, inflation, and consumer sentiment stand out. The technical picture has become bullish for the pair but experts are bearish beyond the short term. This was the week: Lots of data, not pointing in one direction It was a busy week of US … “Can the USD/JPY rally continue? The Fed has the keys”
GBP/USD at the mercy of the EU Summit on Brexit
GBP/USD struggled on the neverending Brexit saga. The special EU Summit on Brexit is left, right, and center. The technical is marginally bearish. Experts are bullish on all timeframes. This was the week: Breaking the logjam It was another turbulent week in the Brexit saga. After Parliament failed to approve the Brexit deal for the … “GBP/USD at the mercy of the EU Summit on Brexit”
Canadian Dollar Falls on Weak Jobs Data Amid Mixed NFP Report
The Canadian dollar today fell against its US counterpart following the release of weak Canadian jobs data for March in the early American session. The USD/CAD currency pair rallied to new highs following the release of the weak jobs data from Canada as well as the upbeat US non-farm payrolls report. The USD/CAD currency pair … “Canadian Dollar Falls on Weak Jobs Data Amid Mixed NFP Report”