The Sterling pound today fell to new lows against the US dollar as it was buffeted by negative Brexit headlines from the early London session. The GBP/USD currency pair later fell to new record lows on rumors that the EU will allow an extension of Article 50 up to May 22, which is quite short. The GBP/USD currency pair today fell from a high of 1.3228 to a low of 1.3004 in the American session following … “Sterling Pound Drops on BoE Rate Decision and Brexit Headlines”
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Norwegian Krone Gains After Norges Bank Hikes Interest Rates
The Norwegian krone managed to gain on the US dollar even though the greenback was generally strong today, rebounding after yesterday’s losses. The most likely reason for that was the interest rate hike by Norway’s central bank. The Norges Bank raised its main interest rate by 25 basis points to 1% at today’s monetary policy meeting. The central bank mentioned strength of the domestic economy: The Norwegian economy is expanding at a solid pace, … “Norwegian Krone Gains After Norges Bank Hikes Interest Rates”
Swiss Franc Gains Despite SNB Keeping Negative Interest Rates
The Swiss franc rallied against most major currencies today, with the exception of the US dollar, which was rebounding after yesterday’s losses. Markets largely ignored the monetary policy meeting of the Swiss National Bank. As was expected, the SNB kept its interest rates in the negative territory, with interest on sight deposits staying at â0.75% and the target range for the three-month Libor at between â1.25% and â0.25%. While the central bank admitted that “the Swiss … “Swiss Franc Gains Despite SNB Keeping Negative Interest Rates”
Australian Dollar Surges After Employment Report, Loses Gains Later
The Australian dollar surged after release of a domestic employment report even though the data was mixed. By now, though, the currency has lost its gains, trading below the opening level against its most-traded rivals. The Australian Bureau of Statistics reported that the number of employed persons in Australia rose by just 4,600 in February from the previous month, seasonally adjusted, after increasing as much as 38,300 in January. Analysts had predicted a substantially … “Australian Dollar Surges After Employment Report, Loses Gains Later”
Euro Surges on Dovish Fed, Capped by Debt Warnings
The euro is rallying against a basket of major currencies on Thursday, buoyed by a dovish Federal Reserve. The gains were capped by a new report that sounded the alarm about public debt binges that threaten the stability of the currency. On Wednesday, the US central bank left its benchmark fed funds rate in the 2.25% to 2.5% range. It also reaffirmed its dovish stance by confirming it plans to raise interest rates just once … “Euro Surges on Dovish Fed, Capped by Debt Warnings”
3 ways Brexit can go and the potential GBP/USD reactions
GBP/USD is back down, failing to take advantage of the Brexit chaos weighs. Eight days to go, there are three scenarios left. The technical picture is worsening for the pair which is nearing oversold territory. GBP/USD is trading back below 1.3200 as the Brexit uncertainty continues. The state of Brexit On Wednesday, UK PM Theresa May … “3 ways Brexit can go and the potential GBP/USD reactions”
Canadian Dollar Soft, Ignores Sharp Rise of Crude Oil Prices
The Canadian dollar fell against most of its major peers on Wednesday, with the exception of the US dollar. That was surprising, considering that fundamentals did not look particularly bad for the currency. Prices for crude jumped more than 1% on Wednesday after a surprise big drop of US oil inventories. Usually, the Canadian currency follows moves of prices for Canada’s major export commodity. But that was not the case today. … “Canadian Dollar Soft, Ignores Sharp Rise of Crude Oil Prices”
NZ Dollar Jumps Sharply After Release of New Zealand GDP
The New Zealand dollar was falling for the most part of the Wednesday’s session, rebounding for a short time after the US Federal Reserve turned out to be surprisingly dovish. Yet the kiwi jumped sharply by the end of the session after the release of New Zealand’s gross domestic product. Statistics New Zealand reported that GDP rose 0.6% in the December quarter from the previous three months following the 0.3% growth in the September quarter. The actual reading … “NZ Dollar Jumps Sharply After Release of New Zealand GDP”
US Dollar Falls As âPatientâ Fed Signals One Rate Hike in 2019
The US dollar is holding steady midweek as the Federal Reserve concluded its two-day policy meeting. The US central bank did not pull off any surprises on Wednesday, signaling that it has become far more bearish than in previous meetings, whether it relates to policy maneuvers or economic estimates. According to the Fedâs new dot plot, Chair Jerome Powell confirmed that it plans just one … “US Dollar Falls As âPatientâ Fed Signals One Rate Hike in 2019”
Pound Slumps on Short Brexit Extension Request, Mixed CPI Data
The British pound today fell to new 1-week lows against the US dollar after the UK Prime Minister confirmed that she had requested for a short Brexit extension from the EU. The GBP/USD currency pair had traded sideways before heading lower amid mostly neutral investor sentiment and a positive reaction to the latest UK inflation … “Pound Slumps on Short Brexit Extension Request, Mixed CPI Data”