The Great Britain pound behaved similarly to the euro today, opening sharply lower but recovering a bit later. And similarly to the euro, the currency was waiting for macroeconomic releases over the rest of the week as the Monday’s economic calendar was empty. Besides the Turkish crisis, which was affecting the whole Forex market, the sterling has its own negative factor in the form of Brexit concerns. It looked like chances for “no-deal Brexit” continued to increase … “Pound Languishes on Monday, Waiting for Key Economic Releases”
Author: admin_mm
Chinese Yuan weakens on Lira Crisis, Rallying Stocks
The Chinese yuan is weakening on Monday, hurt by the Turkish lira crisis and a rallying stock market. Investors have also combed through recent remarks by the Peopleâs Bank of China (PBOC) about refusing to use the currency as a tool in its trade dispute with the US. Despite the domestic traders overreacting to start … “Chinese Yuan weakens on Lira Crisis, Rallying Stocks”
Euro Bounces from Lows, Waits for Economic Data
The euro bounced today after opening sharply lower due to the financial crisis in Turkey. The current trading session was light on other events, including economic releases, but tomorrow’s session will be different, with plenty of macroeconomic data from the eurozone. Turkey’s crisis rattled all the markets, but European ones especially. European banks have strong exposure to Turkish assets, making them especially vulnerable. Tomorrow, there … “Euro Bounces from Lows, Waits for Economic Data”
Major Details: Don’t Leave Out the Minor Pairs
When traders first start out on their journey, they either tend to stick to a few major pairs, or they trade every instrument they possibly can. The Majors are particularly popular because they have the lowest spread and are easily predictable with the simplest technical analysis techniques. The majors are the 7 most traded … “Major Details: Don’t Leave Out the Minor Pairs”
South African Rand Touches Lowest Level in Two Years
The South African rand touched the lowest level in two years against the US dollar today amid fears that the Turkish financial crisis will spread to financial systems of other countries. Riskier currencies of emerging markets, the rand being among them, were soft today due to risk aversion on the Forex market. Turkey’s central bank attempted to assuage investors’ fears. While it managed to pause the free fall of the Turkish lira, … “South African Rand Touches Lowest Level in Two Years”
Turkish Lira Pulls Back from Record Low After Central Bank Announcements
The Turkish lira recovered a bit today after touching a new record low overnight. The nation’s central bank attempted to support the currency, making couple announcements. The Central Bank of the Republic of Turkey announced measures for liquidity management of the lira and FX deposits, promising that “the Central Bank will provide all the liquidity the banks need.” Separately, the central bank announced that it is cutting the foreign currency reserve requirements for Turkish banks. … “Turkish Lira Pulls Back from Record Low After Central Bank Announcements”
US Dollar Ends Week Strong on Back of Turkish Crisis
The US dollar was strong during the past trading week thanks to risk aversion caused by the crisis in Turkey, though that same factor made other safe currencies compete with the greenback, and the Japanese yen emerged as a winner. The Turkish lira remained in a free fall as US sanctions against Turkey and hyperinflation made the currency unattractive to investors. While Turkey is not a world’s major economy, exposure of European banks to Turkish assets … “US Dollar Ends Week Strong on Back of Turkish Crisis”
USD: CPI Report Shows Underlying Price Pressures Continue To Build – CIBC
US Core Inflation came out at 2.4% y/y, better than had been expected. Will it push the Fed to raise interest rates at a quicker pace? Here is their view, courtesy of eFXdata: CIBC Research discusses its reaction to today’s US CPI print for the month of July. “Headline inflation appears to have plateaued, but a … “USD: CPI Report Shows Underlying Price Pressures Continue To Build – CIBC”
Turkish Lira Rattles Global Financial Markets As Currency Crashes 20%
The Turkish lira cratered more than 20% on Friday after the US government announced it was doubling its tariffs on the countryâs steel and aluminum exports. The collapse in the lira sent shockwaves throughout global financial markets, prompting the European Central Bank (ECB) to warn major European banks about being exposed to the Turkish economy. On Friday, President Donald Trump tweeted that he authorized an increase on US tariffs on Turkey’s steel … “Turkish Lira Rattles Global Financial Markets As Currency Crashes 20%”
Canadian Dollar Mixed Despite Amazing Employment Report
Canada’s employment data released today was much better than forecasts, but the performance of the Canadian dollar was largely driven by the market sentiment. As a result, the loonie gained against the extremely weak euro, but fell versus safe currencies, such as the US dollar and the Japanese yen. Statistics Canada reported that Canadian employers added 54,100 jobs in July. That was a far bigger figure than 17,500 predicted by forecasters … “Canadian Dollar Mixed Despite Amazing Employment Report”