GBP/USD dropped on May’s request for a short extension. The EU’s cold response added additional pressure. Things can turn around quite quickly and may provide a buying opportunity on cable. Under pressure from Brexit-supporting ministers, UK PM Theresa May asked for a short extension to Article 50: only up to June 30th. The embattled PM would … “Buying opportunity on GBP/USD? This anarchy could turn positive”
Author: admin_mm
BOE could impact GBP/USD despite Brexit, in two different ways
The BOE is set to leave its policy unchanged amid high Brexit uncertainty. Upbeat economic data make a case for a rate hike after we get Brexit certainty. Comments in the meeting minutes can impact the pound in the short term and affect the future moves. The Bank of England makes its rate decision on Thursday, March … “BOE could impact GBP/USD despite Brexit, in two different ways”
Yen Soft Following Release of BoJ Minutes
The Japanese yen fell slightly today following the release of minutes of the monetary policy meeting by the Bank of Japan. The BoJ released minutes of its January monetary policy meeting today. The notes showed that policy makers planned to maintain the current extremely accommodative policy in the near future: Most members shared the recognition that, although it would take time to achieve the 2 percent price stability target, it was appropriate to persistently … “Yen Soft Following Release of BoJ Minutes”
Australian Dollar Rebounds Despite Domestic Data
The Australian dollar behaved similarly to its New Zealand counterpart today, falling intraday but rebounding later. Domestic macroeconomic data was not good, but that did not prevent the Aussie from bouncing. The six month annualized growth rate in the WestpacâMelbourne Institute Leading Index fell from â0.37% in January to â0.56% in February. The report commented: The signal from the Index is certainly consistent with the weak momentum in the second … “Australian Dollar Rebounds Despite Domestic Data”
NZ Dollar Trims Losses After Falling Earlier
The New Zealand dollar fell today, being one of the weakest currencies on the Forex market together with its Australian counterpart. The currency has trimmed its losses by now, though. Latest macroeconomic data released in New Zealand was decent, giving no additional reasons for the kiwi to go down. Global Dairy Trade Price Index showed an increase by 1.9% that followed the increase by 3.3% in the previous reporting period. Statistics New … “NZ Dollar Trims Losses After Falling Earlier”
US Dollar Weak, Anticipating Fed Policy Decision
The US dollar was extremely weak today, waiting for the monetary policy decision of the Federal Reserve. Economic data released on Tuesday in the United States missed market expectations, giving no help to the US currency. The US Census Bureau reported that factory orders rose 0.1% in January, the same as in December. Markets were expecting a slightly bigger increase by 0.3%. The Fed started its monetary policy meeting today and will conclude it … “US Dollar Weak, Anticipating Fed Policy Decision”
Australian Dollar Falls with House Prices
The Australian dollar was among the weakest currencies during the Tuesday’s session, falling together with house prices. The monetary policy minutes from the central bank did not reveal anything that could help the currency. The Australian Bureau of Statistics reported that the house price index dropped 2.4% in the December quarter from the previous three months after falling 1.5% in the third quarter. Analysts had promised a smaller drop by 1.9%. … “Australian Dollar Falls with House Prices”
Consumer Sentiment Deteriorates, NZ Dollar Flat
The New Zealand dollar traded about flat against most of its major peers by the end of the Tuesday’s trading session. The worsening consumer sentiment did not hurt the currency much. Released by the end of the Monday’s session, the Westpac McDermott Miller Consumer Confidence Index dropped to 103.8 in March from 109.1 in February. The report commented on the result: Households have become increasingly concerned about their personal financial situation. The number of households reporting … “Consumer Sentiment Deteriorates, NZ Dollar Flat”
Chinese Yuan Mixed on Stimulus, Corporate Spending
The Chinese yuan is mixed against a basket of currencies on Tuesday as investors are trading on a wide array of issues in the worldâs second-largest economy. Beijing announced new stimulus measures, corporate spending and yuan deposits slumped to multi-year lows, and analysts are hoping for a second-quarter rebound. It has been an interesting week so far for China. In order to stimulate the slowing economy, Beijing announced a tax cut for manufacturing and other sectors beginning April … “Chinese Yuan Mixed on Stimulus, Corporate Spending”
Improving Economic Sentiment Fails to Boost Euro
The economic sentiment in Germany as well as in the whole eurozone improved significantly this month. But that failed to give a noticeable boost to the euro, which was moving in a range in the second half of the Tuesday’s session. The ZEW Indicator of Economic Sentiment for Germany climbed to -3.6 in March from -13.4 in February. That is compared to the average forecast of -11.0. ZEW President Professor Achim Wambach commented on the result: The significant increase in the ZEW Indicator of Economic Sentiment … “Improving Economic Sentiment Fails to Boost Euro”