The Australian dollar traded flat-to-lower today after the release of underwhelming macroeconomic reports in Australia. Economic data in China, Australia’s biggest trading partner, was neutral, having a limited impact on the currency. The biggest negative impact perhaps had the building permits report from the Australian Bureau of Statistics, which showed a drop by 8.4% in December from the previous month on a seasonally adjusted basis, which followed the 9.8% decline in November (revised, 9.1% before … “Australian Dollar Soft on Poor Housing Data, Other Reports”
Author: admin_mm
BOE preview: Carney can cause carnage with contingencies
The Bank of England makes its rate decision and publishes new forecasts precisely 50 days before Brexit Day. Growing uncertainty about the historic departure is set to paralyze any new decisions. However, Governor Carney can surprise markets by changing assumptions or ramping up contingency plans. This is a “Super Thursday.” In addition to the regular … “BOE preview: Carney can cause carnage with contingencies”
US Dollar Ends Week with Losses due to Dovish Fed
The US dollar fell against most of major counterparts during the past trading week largely due to the relatively dovish stance of the Federal Reserve. The losses were not particularly big, though. In its statement, the Fed talked about being “patient” in adjusting monetary policy. That led to to speculations that the central bank will delay additional interest rate hikes and may perform fewer hikes this year than was previously … “US Dollar Ends Week with Losses due to Dovish Fed”
Canadian Dollar Rallies on Rising Oil Prices, Mixed US NFP
The Canadian dollar rose against its US counterpart today due to the mixed US nonfarm payrolls. The loonie gained on other most-traded rivals as well, most likely thanks to the strong rally of crude oil prices. Domestic macroeconomic data did not help the currency, being rather underwhelming. The official US employment report showed strong growth of employment, but other parts of the report were weak, with an unexpected rise of the unemployment … “Canadian Dollar Rallies on Rising Oil Prices, Mixed US NFP”
Can CAD continue higher? Jobs will have their say
USD/CAD fell sharply on US Dollar weakness and recovering oil prices. The jobs report stands out in the first full week of February. The technical picture is bearish for the pair. This was the week: Dovish Fed dominates The US Federal Reserve made a dovish shift, saying it will be patient with raising rates. Also, … “Can CAD continue higher? Jobs will have their say”
GBP/USD at the mercy of Brexit and the BOE cannot help
GBP/USD was remarkably stable amid Fed and Brexit turbulence. The BOE and quarterly GDP stand out in a busy week. The technical picture remains bullish for the pair. Experts are bearish in the short and medium terms. This was the week: Trying to renegotiate Brexit and the Fed doves The UK Parliament debated amendments to … “GBP/USD at the mercy of Brexit and the BOE cannot help”
3 things to watch after the mixed NFP
Both jobs and wages were mixed in the first report for 2019. The confusing data justify a patient approach by the Fed. The US Dollar may follow the Fed’s lead and remain patient. Three mixed messages: 1) Headline The US economy gained 304,000 Non-Farm jobs in January, far above 165K expected or any “whisper” expectations stemming … “3 things to watch after the mixed NFP”
US Dollar Pulls Back After Stellar Jobs Report
The US dollar is losing ground against its major currency rivals to finish off the trading week. After the latest jobs report still showed a robust labor market to kick off 2019, investors will now see if the Federal Reserve will revise its âpatientâ stance and return to its aggressive path to normalizing monetary policy. According to the Bureau of Labor Statistics (BLS), the US economy added 304,000 new … “US Dollar Pulls Back After Stellar Jobs Report”
Euro Range Bound on Mixed Eurozone PMIs, Rallies on Upbeat CPI Data
The euro today traded in a tight range against the US dollar during the Asian session as market risk sentiment subsided on weak Chinese Caixin manufacturing PMI data. The EUR/USD currency pair remained range bound as several PMI prints from across the eurozone were released by IHS Markit before rallying higher on upbeat eurozone inflation … “Euro Range Bound on Mixed Eurozone PMIs, Rallies on Upbeat CPI Data”
USD/JPY one-two punched by the Fed and global growth
USD/JPY dropped mostly due to the Fed’s dovish decision. The services sector survey stands out in the first full week of February. The technical picture is becoming mixed for the pair. This was the week: Dovish Fed dominates The Federal Reserve made a significant dovish twist. They no longer foresee a gradual increase in interest rates but … “USD/JPY one-two punched by the Fed and global growth”