The Japanese yen rallied against its most-traded rivals today on bad macroeconomic releases in China and uncertainty about the situation in Great Britain. By now, the currency has trimmed its gains, losing them against some of the peers outright. China’s trade balance surplus widened to $57.06 billion in December from $53.85 billion in November. While the data looked good on surface, actually both imports and exports declined, it is just that … “Japanese Yen Rallies on Poor Data from China, Trims Gains Later”
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Forecast: Great Britain Pound Waits for Brexit Vote
The Great Britain pound will likely experience significant volatility this week due to the upcoming Brexit vote. Because of the importance of the event, macroeconomic data should have a limited impact on the currency, being overshadowed by the vote. UK Prime Minister Theresa May managed to reach a trade agreement with the European Union. Yet the vast majority of experts believe that the Parliament will likely reject the deal during the voting on Tuesday. It is … “Forecast: Great Britain Pound Waits for Brexit Vote”
US Dollar Ends Week Soft amid No Rate Hikes Outlook
The US dollar fell against most other currencies over the week as traders were becoming more and more convinced that the Federal Reserve may perform no interest rate hikes at all this year. The major hit for the greenback came from the monetary policy minutes of the Federal Reserve that talked about patience in determining timing of the next interest rate hike. While comments of Fed Chairman Jerome Powell about reduction … “US Dollar Ends Week Soft amid No Rate Hikes Outlook”
Dollar Mixed After Headline Inflation Slows
The US dollar was mixed following the release of an inflation report. Market analysts were still bearish on the currency, saying that there are not many factors that will support the greenback over the long term. The Bureau of Labor Statistics reported that the Consumer Price Index fell 0.1% in December, month-on-month, after showing no change in November. Year-on-year, consumer inflation slowed to 1.9% from 2.2% in the previous month. Core … “Dollar Mixed After Headline Inflation Slows”
Canadian Dollar Weakens on Grim Forecasts, Falling Oil Prices
The Canadian dollar is weakening to end the trading week as grim forecasts and disappointing numbers are sending the currency lower. The loonie was most impacted by a dovish central bank this week as interest rates were left unchanged and the governor sounding the alarm on the broader economy. The countryâs trade picture did not help matters. According to Statistics Canada, the countryâs merchandise trade deficit widened to a six-month in November. The statistics agency reported that … “Canadian Dollar Weakens on Grim Forecasts, Falling Oil Prices”
British Pound Rallies on Rumors That Brexit Would Be Delayed
The British pound today rallied higher against the US dollar in the European session on rumors that Brexit would be delayed. The GBP/USD had posted small gains after the release of mixed UK data where the GDP beat expectations, while manufacturing data missed estimates. The GBP/USD currency pair today rallied from a low of 1.2709 to … “British Pound Rallies on Rumors That Brexit Would Be Delayed”
Bitcoin buying opportunity? 3 reasons
BTC/USD fell back down after rising gradually. Interest from Russia and the upcoming launch of Bakkt provide hope. The charts show that Bitcoin is balanced. The grandaddy of cryptocurrencies climbed up gently and dropped back to the bottom of the apparent range. However, it refrained from diving back to the pre-holiday season lows. Here are three … “Bitcoin buying opportunity? 3 reasons”
CAD: Oil Prices Set For Further Recovery Towards An Average Of USD65/bbl in Q1 – Danske
The Canadian dollar gained some ground with the recovery in oil prices. Where can it go? Here is their view, courtesy of eFXdata: Danske Research discusses the oil prices outlook and projects further recovery ahead which should be CAD positive, keeping USD/CAD under pressure in Q1. “The price on Brent crude rose above USD60/bbl yesterday. Oil … “CAD: Oil Prices Set For Further Recovery Towards An Average Of USD65/bbl in Q1 – Danske”
USD/JPY finds new reasons to fall
USD/JPY fell again, this time due to the dollar’s weakness US retail sales and politics will take center-stage. The technical picture is bearish for the pair. This was the week: Fed goes dovish After Powell offered patience and opened the door to changing the balance sheet policy, Fed officials took further steps to the dovish … “USD/JPY finds new reasons to fall”
GBP/USD looks attractive as prospects of an Article 50 delay rise
The UK government and parliament are “boxed in” with 78 days until Brexit. There are growing chances of delaying Article 50. GBP/USD could benefit from kicking the can down the road. The UK government lost two procedural votes related to the all-important Brexit vote on January 15th. It is hard to see how OM Theresa … “GBP/USD looks attractive as prospects of an Article 50 delay rise”