The euro today tumbled to new lows against the US dollar due to the current impasse between the European Union and Italy regarding the country’s 2019 budget. The euro was further weighed down by the disappointing PMI data from across the euro area released by Markit Economics earlier today, which indicated an economic slowdown in … “Euro Drops to 2-Month Lows on Weak PMI Data Amid Italian Politics”
Author: admin_mm
Japanese Yen Rises on Upbeat Tone, China Trade Talks
The Japanese yen is rising against its American counterpart on Tuesday as officials maintain an upbeat tone on the national economy. This week, Japanese leaders are in China to discuss trade and find ways to improve commerce and relations amid trade tensions with the US. On Tuesday, Japanâs Cabinet Office released its monthly economic report and it showed that the economy is gradually recovering, despite exports slowing down â the government … “Japanese Yen Rises on Upbeat Tone, China Trade Talks”
Cashing out of Crypto – Not as easy as it seems
After achieving some level of success on your speculative cryptocurrency trading, you want to enjoy the fruits of your labors, but cashing out isn’t as easy as buying into the cryptocurrency space. Why is there a problem? The problem arises when the cryptocurrency space butts up against the realm of traditional currency and banking spheres. … “Cashing out of Crypto – Not as easy as it seems”
GBP: Groundhog Day: Attempts To Remove PM May Likely A ‘Destructive’ Development – MUFG
The pound is on the back foot Here is their view, courtesy of eFXdata: MUFG Research discusses GBP outlook in light of the current heightened state of political uncertainty in the UK which was again evident in the weekend press. “In what feels like groundhog day, there were fresh reports over the threat of a potential … “GBP: Groundhog Day: Attempts To Remove PM May Likely A ‘Destructive’ Development – MUFG”
Euro Rallies Slightly Amid Stock Market Sell Off and Italian Politics
The euro today rallied slightly against the US dollar despite the lack of any major data releases from the eurozone and the simmering Italian budget drama. The EUR/USD currency pair’s rally is most likely due to a technical pullback given yesterday’s massive decline and the risk-off market sentient that still exists. The EUR/USD currency pair today … “Euro Rallies Slightly Amid Stock Market Sell Off and Italian Politics”
Sterling Falls on Monday on Brexit Headlines
The Great Britain pound sank on Monday against all other most-traded currencies, including the euro that was extremely weak itself, amid the negative Brexit headlines, which made the currency unappealing to investors. There were reports that the Northern Irish Democratic Unionist Party is going to support the amendment that will make illegal the backstop plan for Norther Ireland proposed by the European Union. The EU offered to keep Northern Ireland … “Sterling Falls on Monday on Brexit Headlines”
Canadian Dollar Sideways Ahead of Key BOC Rate Decision
The Canadian dollar is trading sideways on Monday ahead of an important announcement on interest rates by the Bank of Canada (BOC). The loonie is also struggling to find an upwards direction because of sliding crude oil prices, weak economic data, and a rallying greenback. According to Statistics Canada, national wholesale trade tumbled by 0.1% in August as the market projected a 0.2% jump. The disappointing numbers stem from weaker building material, motor vehicle, and supply sales. … “Canadian Dollar Sideways Ahead of Key BOC Rate Decision”
Euro Weak as Clash Between Italy & EU Continues
The euro was weak against most of its major currencies today due to the clash between Italy and the European Union over Italy’s budget deficit target. The shared 19-nation currency managed to gain on the Great Britain pound, which was also extremely weak due to Brexit concerns. The Italian government rejected EU’s request to review the budget, sending a letter on Monday that was defending the increase in spending as a measure to reignite economic growth … “Euro Weak as Clash Between Italy & EU Continues”
EURGBP Looks Bearish, while USDNOK Aims for Higher Prices – Elliott wave Analysis
EURGBP can be trading at the end of a big triangle correction in wave 4); pair which can look for more weakness once the lower triangle line and the 0.8751 level gets breached. Also, a triangle correction is a continuation pattern, that unfolds prior to the final leg, and can suggest more weakness once recognized. … “EURGBP Looks Bearish, while USDNOK Aims for Higher Prices – Elliott wave Analysis”
US Dollar Ends Week Strong, Commodity Currencies Outperform
The US dollar ended the week relatively strong against most other major currencies thanks to the hawkish minutes of the Federal Reserve. Yet commodity currencies, including the Australian and New Zealand dollars but excluding the Canadian dollar, outperformed the greenback. The minutes of the Fed policy meeting in September revealed that the Committee members voted for an interest rate hike unanimously. That led to speculations about the Fed hiking rates one more time this … “US Dollar Ends Week Strong, Commodity Currencies Outperform”