The US dollar gained against its most-traded rivals today following yesterday’s losses caused by dovish monetary policy minutes released by the Federal Reserve. Market analysts explained the rebound by comments from Fed Chairman Jerome Powell. Yesterday, the Fed released minutes of its December monetary policy meeting. Markets considered the notes to be more dovish than expected. In particular, the central bank hinted that it can be patient … “US Dollar Rebounds on Comments of Fed Chair Powell”
Author: admin_mm
Canadian Dollar Firm on Positive Macroeconomic Data
The Canadian dollar performed fairly well today thanks to positive domestic macroeconomic data and rebounding crude oil prices. The currency fared far worse yesterday, falling after the monetary policy meeting of the Canadian central bank. Statistics Canada reported that the number of building permits rose 2.6% in November from October after falling 0.4% in the previous month. Experts had predicted a 0.5% decline. Meanwhile, the New Housing Price Index … “Canadian Dollar Firm on Positive Macroeconomic Data”
Chinese Yuan Rises on Slowing Inflation, New Stimulus Measures
The Chinese yuan is gaining against its US counterpart on Thursday on slowing inflation and recent measures by the federal government to stimulate the economy. But as Beijing employs more initiatives to spur growth, some analysts are sounding the alarm about the worldâs second-largest economy pushing new âuntestedâ policies that may or may not achieve growth officials want. According to the National Bureau of Statistics, producer inflation climbed less than expected … “Chinese Yuan Rises on Slowing Inflation, New Stimulus Measures”
Euro Falls From Highs Triggered by Dovish Fed as US Dollar Rebounds
The euro today rallied higher against the US dollar in the early Asian session following yesterday’s dovish FOMC minutes and Fed comments. The single currency soon headed lower as the US dollar staged a rebound boosted by the risk averse market sentiment as the optimism around the US-China trade talks faded. The EUR/USD currency pair … “Euro Falls From Highs Triggered by Dovish Fed as US Dollar Rebounds”
Japanese Yen Strengthens As Longest Expansion Since WWII Nears
The Japanese yen is strengthening against its American counterpart midweek as the worldâs third-largest economy is on track for its longest expansion since the Second World War. On the data front, there were plenty of positives to whet the appetite of Japanese investors. With the US-Japan trade negotiations on the horizon, markets may be rallying ahead of the economic storm clouds. In September 2017, the Japanese economy surpassed the 57-month expansion (November 1965 to July 1970), … “Japanese Yen Strengthens As Longest Expansion Since WWII Nears”
Euro Spikes Higher on Dovish Fed Comments Before FOMC Minutes
The euro today spiked higher in the early American session following dovish comments by Atlanta Fed President Raphael Bostic, which drove the US dollar lower. The EUR/USD currency was range bound for most of today’s session despite the release of several macro prints from across the eurozone. The EUR/USD currency pair today spiked from a … “Euro Spikes Higher on Dovish Fed Comments Before FOMC Minutes”
Brexit vote -5 scenarios and GBP/USD reactions after May loses
The UK government delayed the vote that was scheduled for December due to prospects of a defeat. PM Theresa May toured Europe in an attempt to secure concessions about the Irish backstop issue, but her counterparts were only willing to provide clarifications but no changes to the legal text. She was hoping that the ticking … “Brexit vote -5 scenarios and GBP/USD reactions after May loses”
Chinese Yuan Sideways As Investors Weigh Economy
The Chinese yuan is trading sideways on Tuesday as investors continue to weigh the economy. Beijing has attempted to ease tradersâ minds by confirming reports that US-China trade talks are improving and that the government and central bank are employing stimulus measures to spur growth. But some experts believe that the worldâs second-largest economy is worse than officials are saying. While the Peopleâs Bank of China (PBOC) is forecasting … “Chinese Yuan Sideways As Investors Weigh Economy”
CAD: Has Some Wood To Chop Into BoC Targeting USD/CAD At 1.32 – TD
The Canadian dollar traded in a choppy manner amid significant volatility in oil prices. The focus now shifts to the rate decision by the Bank of Canada. What will the BOC do? Here is their view, courtesy of eFXdata: TD Research discusses USD/CAD outlook into tomorrow’s BoC policy meeting and likes more downside through the … “CAD: Has Some Wood To Chop Into BoC Targeting USD/CAD At 1.32 – TD”
Germany at risk of recession and this weighs on EUR/USD
Germany suffered yet another month of drops in its industrial output. The ECB may be forced to cut its forecasts and delay its rate hike. EUR/USD could come under pressure regardless of a dovish twist by the Fed. German Industrial Production dropped by a whopping 1.9% in November, far worse than an increase of 0.3% … “Germany at risk of recession and this weighs on EUR/USD”