The US gained only 20K jobs in February and the US Dollar dropped. The acceleration in wages and the effect of the government shutdown should allay fears. The US Dollar has room to rise, especially as the other currencies have their issues. The American economy gained a meager 20K positions in February, far worse than … “5 reasons to buy the NFP Dollar Dip”
Author: admin_mm
Swiss Franc Mixed After Unemployment Rate Meets Expectations
The Swiss franc traded mixed today, falling against some rivals, while holding versus others. Domestic macroeconomic data was not helpful in finding direction. The Swiss Secretariat for Economic Affairs reported that the unemployment rate edged down to 2.7% in February from the ten-month high of 2.8% in January, without adjustments for seasonal factors. Seasonally adjusted, the unemployment rate remained unchanged at 2.4%, in line with expectations. USD/CHF jumped from … “Swiss Franc Mixed After Unemployment Rate Meets Expectations”
Dovish ECB Rate Decision and Draghi Comments Trigger Euro Crash
The euro today crashed to almost 2-year lows following dovish comments by the European Central Bank Governor after the bank’s interest rate decision earlier today. The EUR/USD currency pair today fell to lows last witnessed in June 2017 after the ECB slashed the eurozone’s economic growth forecasts and announced new easing measures. The EUR/USD currency pair today fell from a high of 1.1320 to a low … “Dovish ECB Rate Decision and Draghi Comments Trigger Euro Crash”
Aussie Rallies on Near-Record Trade Surplus, Retreats Later
The Australian dollar rallied today due to the unexpected increase of the trade surplus. The currency has lost gains against some of its rivals by now, while keeping them versus others. The Australian Bureau of Statistics reported that the trade balance logged a surplus of A$4.55 billion in January, up from A$3.77 billion in November. That is instead of a drop to A$2.85 billion predicted by economists. Moreover, it was the second largest surplus on record. … “Aussie Rallies on Near-Record Trade Surplus, Retreats Later”
Japanese Yen Surges Despite Fears of Recession
The Japanese yen is rallying against a basket of currencies towards the end of the trading week, despite fears that the latest data might be signaling that Tokyo is in a recession. This has the central bank calling for additional stimulus should the national economy fall even further, which is applying more pressure on the federal government ahead of the important US-Japan trade talks. On Thursday, the Cabinet Office released the latest findings of its … “Japanese Yen Surges Despite Fears of Recession”
EUR/USD levels to watch after Draghi’s 5 downers
The ECB and President Draghi went fully dovish sending the euro down. There are five significant moves that will continue reverberating. It is time to look at the next significant downside levels as EUR/USD falls out of balance. Here are the factors, followed by the levels: 1) Forward guidance: The ECB moved its pledge regarding low … “EUR/USD levels to watch after Draghi’s 5 downers”
Canadian Dollar Falls After Dovish BoC Rate Decision and Statement
The Canadian dollar today fell drastically against its US counterpart following the Bank of Canada‘s dovish interest rate decision. The USD/CAD currency pair today rallied to new 2-month highs following the BoC’s cautious statement in the early North American session. The USD/CAD currency pair today rallied from a low of 1.3351 to a high of … “Canadian Dollar Falls After Dovish BoC Rate Decision and Statement”
Chinese Yuan Weakens As State Stimulus, Bearish Forecasts Revealed
The Chinese yuan is weakening against several major currency rivals midweek. As the federal government unveiled its multi-layered stimulus to boost the economy, new forecasts show that economists believe growth could plunge to 2% in the next decade, but not before growing 6% this year. China unveiled a major tax cut package on Tuesday, opening … “Chinese Yuan Weakens As State Stimulus, Bearish Forecasts Revealed”
Australian Dollar Tumbles After GDP Misses Expectations
The Australian dollar sank versus other most-traded currencies today as Australia’s economic growth missed expectations, leading to speculations that the central bank may cut interest rates later this year. The Australian Bureau of Statistics reported that gross domestic product rose 0.2% in the December quarter from the previous three months on a seasonally adjusted basis. That is a slowdown from the previous quarter’s rate of growth of 0.3%. Analysts had … “Australian Dollar Tumbles After GDP Misses Expectations”
EUR/USD: Staying Short; ECB To Retain A Decisively Dovish Tone- Barclays
The European Central Bank is unlikely to change its policy but its tone will make a difference. What does this mean for EUR/USD? Here is their view, courtesy of eFXdata: Barclays Research discusses its expectations for the EUR around the ECB March policy meeting on Thursday. Barclays maintains a tactical bearish EUR/USD bias, expressing that via holding … “EUR/USD: Staying Short; ECB To Retain A Decisively Dovish Tone- Barclays”