Hi traders, USDCHF is currently unfolding an intra-day drop from the 0.9955 high, which can be first suggestion of a top in place. However, this weakness can also be a temporary minor corrective leg within blue wave v, in which case a new rally would take place. That said, if we get a further drop … “USDCHF Waiting on A Drop, Nasdaq for A Bounce – Elliott wave Analysis”
Author: admin_mm
Japanese Yen Rises on Steady Economic Recovery Signals
The Japanese yen is rising modestly against its counterparts on Friday after new data suggests the countryâs economic recovery is holding steady. But the International Monetary Fund (IMF) issued a report that urged Tokyo to take a breather and not declare victory just yet. In August, household spending rose 2.8%, beating market forecasts of a 0.1% decline and recording the second consecutive month of gains. This is the fastest annual … “Japanese Yen Rises on Steady Economic Recovery Signals”
Bitcoin’s narrowing range implies imminent explosion, but to where to?
The BTC/USD had a week of consolidation, getting entrenched into a range. Comments by Mike Novogratz echoed but did not move prices. The technical picture is fully balanced, a situation which implies an explosion. Bitcoin had a stable start to the fourth quarter of the year, trading in a narrowing range. The most significant development … “Bitcoin’s narrowing range implies imminent explosion, but to where to?”
Positive Employment Report Fails to Boost Canadian Dollar
The Canadian dollar behaved similarly to its US counterpart, climbing after the release of a domestic employment report but pulling back later. That was surprising considering that Canada’s macroeconomic reports released today were universally good. The Statistics Canada reported that employment rose by 63,300 in September. That is compared to the increase by 25,000 predicted by analysts and the huge drop by 51,600 logged in August. The unemployment rate ticked down from … “Positive Employment Report Fails to Boost Canadian Dollar”
US Dollar Demonstrates Volatile Reaction to Nonfarm Payrolls
The US dollar showed volatile reaction to nonfarm payrolls, sinking after the release but rebounding almost immediately afterwards. That should not be a surprise considering that the report was very mixed. Currently, the greenback reversed its movement yet again and went lower. The US Bureau of Labor Statistics reported that employment rose by just 134,000 in September, demonstrating a rate of growth that was far slower than was … “US Dollar Demonstrates Volatile Reaction to Nonfarm Payrolls”
Swiss Franc Declines After Inflation Misses Expectations
The Swiss franc declined against its most-traded rivals today after Switzerland’s inflation missed expectations. The Federal Statistical Office reported that the Swiss Consumer Price Index rose 0.1% in September month-on-month and 1.0% year-on-year. The monthly increase failed to meet market expectations of a 0.2% gain, but it was still a better reading than no change registered in August. The report commented on the result: The 0.1% increase compared with the previous … “Swiss Franc Declines After Inflation Misses Expectations”
Australian Dollar Flat amid Mixed Economic Reports
The Australian dollar was virtually flat today amid mixed domestic macroeconomic reports as traders were waiting for employment data from the United States. The Australian Bureau of Statistics reported that retail sales rose 0.3% in August, in line with expectations, after showing no change in July. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index declined to 49.3 in September from 51.8 in August. AUD/USD … “Australian Dollar Flat amid Mixed Economic Reports”
Negative Fundamentals Drag Canadian Dollar Down
The Canadian dollar declined against its major peers today, dragged down by a range of factors. Among them were the relatively strong US dollar, falling prices for crude oil, and poor macroeconomic data. Prices for crude continued to fall today following yesterday’s surge of US oil stockpiles. North American crude fell more than 2% today on NYMEX. The Ivey PMI dropped to 50.4 in September from 61.9 in August. Analysts … “Negative Fundamentals Drag Canadian Dollar Down”
US Dollar Looks Ahead to September Jobs Report After Strong Week of Data
The US dollar is continuing to post incredible gains against several currencies on Thursday after an impressive week of domestic economic data and global developments. The greenback will now look ahead to the September jobs report on Friday, which is expected to come in strong. According to the Institute for Supply Management (ISM), business activity … “US Dollar Looks Ahead to September Jobs Report After Strong Week of Data”
Great Britain Pound Gains on Positive Brexit News
The Great Britain pound gained today on news that Ireland backed the Brexit plans of Britain’s Prime Minister Theresa May that would allow to avoid a border on the island. The currency was unable to outperform the very strong Japanese yen, though. May tries to find a way to avoid a hard border between Northern Ireland and the Republic of Ireland — a prospect that the European Union finds unacceptable. She showed willingness to keep Britain in the EU … “Great Britain Pound Gains on Positive Brexit News”