The euro today rallied higher against the US dollar driven by investor hopes of a breakthrough in the ongoing Sino-US trade talks and a risk-on market sentiment. The EUR/USD currency pair’s performance today was largely driven by market sentiment given that US markets were closed in celebration of Presidents’ Day holiday. The EUR/USD currency pair today traded between a high of 1.1334 and a low of 1.1292 by rallying higher then retracing its gains before … “Euro Rallies on Trade Talk Hopes, Drops on Shift in Investor Sentiment”
Author: admin_mm
3 reasons for euro/pound to rise, and where to
Bad news may be priced into the euro and not to the pound. The “Brexit cross” has room to move after a bit of stagnation. The technical levels provide guidance to the next moves of the pair. Euro/pound, aka the “Brexit cross” has been remarkably stable as Brexit nears. But such limited movement does not … “3 reasons for euro/pound to rise, and where to”
Sterling Opens Higher, Continues to Rise vs. US Dollar & Yen
The Great Britain pound opened sharply higher today. While it has backed off closer to the Friday’s close against some peers, the sterling continued to move higher versus such currencies as the US dollar and the Japanese yen. As for today’s macroeconomic data, the Rightmove House Price Index rose 0.7% in February after increasing 0.4% in January. Annual growth was at just 0.2%. The news about resignation of several Members of Parliament from … “Sterling Opens Higher, Continues to Rise vs. US Dollar & Yen”
Yen Weakest on Forex Market amid Risk Appetite, Japan’s Data Doesn’t Help
The Japanese yen was the weakest major currency on the Forex market today amid risk appetite caused by optimism about Sino-US trade talks. Better-than-expected domestic macroeconomic data was unable to provide support for the Japanese currency. The Japanese Cabinet Office reported that machinery orders (excluding volatile components) fell 0.1% in December from the previous month. The decline was much smaller than the forecast drop of 1.1%. Nevertheless, the orders were … “Yen Weakest on Forex Market amid Risk Appetite, Japan’s Data Doesn’t Help”
US Dollar Gains on Major Rivals, Retreats vs. Commodity Currencies
The US dollar gained on most major currencies during the past trading week but fell against commodity currencies. The reason for that was optimism about Sino-US trade talks, which led to risk appetite on markets. While no specific details were revealed, the United States and China released statements, claiming that progress has been made and announcing a meeting in Washington next week. That was a good news for the dollar. … “US Dollar Gains on Major Rivals, Retreats vs. Commodity Currencies”
EUR/USD: Need To Close Above 1.1345 To Reinforce Support – TD
EUR/USD hit new two-month lows as the situation in Europe worsens. What’s next? Here is their view, courtesy of eFXdata: TD Research discusses EUR/USD outlook and highlights the importance of closing above the 1.1345 level to regain some support in the near-term. “The majors sit mostly in a holding pattern, as the recent sessions showed … “EUR/USD: Need To Close Above 1.1345 To Reinforce Support – TD”
Pound Rallies on Upbeat UK Retail Sales as May Loses Indicative Vote
The British pound today rallied higher against the US dollar from the early European session following the release of upbeat UK retail sales data for January. The GBP/USD currency pair was trading in a see-saw fashion during the Asian session as investors remained indecisive regarding the Sterling. The GBP/USD currency pair today rallied from a … “Pound Rallies on Upbeat UK Retail Sales as May Loses Indicative Vote”
NZ Dollar Defies Negative Fundamentals, Bouncing After Decline
The New Zealand dollar rallied today after falling earlier. Surprisingly, the rally started after the release of disappointing macroeconomic reports in China — New Zealand’s biggest trading partner. Domestic macroeconomic data, which was not that great as well, had smaller impact on the currency. Yet it was also puzzling, driving the kiwi slightly higher, not lower. The National Bureau of Statistics of China reported that the Consumer Price Index … “NZ Dollar Defies Negative Fundamentals, Bouncing After Decline”
Yen Reverses Gains Caused by Risk Aversion, Japan’s Macroeconomic Data Matches Expectations
The Japanese yen rose earlier today amid risk aversion caused by apparent lack of progress in the Sino-US trade talks. By now, though, the currency trimmed its gains, erasing them against some peers completely. Japan’s macroeconomic data released during the trading session was in line with expectations. Japan’s Ministry of Economy, Trade and Industry reported that industrial production fell 0.1% in December from the previous month according to the final … “Yen Reverses Gains Caused by Risk Aversion, Japan’s Macroeconomic Data Matches Expectations”
USD/JPY rally may have ended and more falls could come
USD/JPY extended its advance but dropped on a risk-off atmosphere. The FOMC Meeting Minutes stand out and trade remains in the limelight. The technical picture is marginally bullish for the pair. This was the week: Talks continue, US retail sales plunge US-Chinese talks were held at top-level in Beijing between US Trade Representative Robert Lighthizer, Treasury Secretary … “USD/JPY rally may have ended and more falls could come”