The Bank of Canada raised rates as expected and maintained the bullish bias. Trade concerns are left, right, and center, limiting the reaction. Trade issues could turn the tables for the BOC. The Bank of Canada hiked the Overnight Rate from 1.25% to 1.50%. They cited a growing economy, a housing market that has stabilized … “BOC behaves like it’s bullish while being terrified of trade tariffs”
Author: admin_mm
BOC behaves like it’s bullish while being terrified of trade tariffs
The Bank of Canada raised rates as expected and maintained the bullish bias. Trade concerns are left, right, and center, limiting the reaction. Trade issues could turn the tables for the BOC. The Bank of Canada hiked the Overnight Rate from 1.25% to 1.50%. They cited a growing economy, a housing market that has stabilized … “BOC behaves like it’s bullish while being terrified of trade tariffs”
British Pound Trades Lower as Rebel MPs Oppose Latest Brexit Plan
The British pound today traded lower against the US dollar even as Theresa May‘s government is buffeted by rebellions from members of her Conservative Party who have resigned from their positions. The pound’s decline was further accelerated by the risk-off sentiment among investors triggered by the imposition of more tariffs by the US government on Chinese exports. The GBP/USD currency pair today declined from a high of 1.3285 to a low of 1.3233 and was on a downtrend … “British Pound Trades Lower as Rebel MPs Oppose Latest Brexit Plan”
Time to buy GBP/USD? The UK government is not falling anytime soon
The UK cabinet agreed on a soft Brexit, but Boris Johnson’s resignation hit the pound. As time passes by, nobody challenges UK PM Theresa May. The dizzying political drama can turn into a buying opportunity. The resignation of now ex-Foreign Secretary Boris Johnson sparked a sell-off of Sterling. The pair made a total round-trip of some 150 … “Time to buy GBP/USD? The UK government is not falling anytime soon”
Time to buy GBP/USD? The UK government is not falling anytime soon
The UK cabinet agreed on a soft Brexit, but Boris Johnson’s resignation hit the pound. As time passes by, nobody challenges UK PM Theresa May. The dizzying political drama can turn into a buying opportunity. The resignation of now ex-Foreign Secretary Boris Johnson sparked a sell-off of Sterling. The pair made a total round-trip of some 150 … “Time to buy GBP/USD? The UK government is not falling anytime soon”
Euro Rallies Higher Ahead of Mario Draghi Speech, Later Declines
The euro today opened higher against the US dollar following the disappointing US unemployment data released on Friday. The single currency rallied higher ahead of Mario Draghi‘s speech, but later declined due to a resurgence in demand for the US dollar in the American session. The EUR/USD currency pair today rallied from a low of 1.1750 to a high of 1.1790 before heading lower and giving up most of its gains. The currency pair today headed higher … “Euro Rallies Higher Ahead of Mario Draghi Speech, Later Declines”
USD/CAD Trades Lower on Disappointing Duo of Employment Reports
The USD/CAD currency pair today headed lower as the Canadian dollar gained against its US counterpart following disappointing jobs reports from both countries. The pair’s decline was further accelerated by the selling pressure on the US dollar following the high US unemployment rate reported. The USD/CAD currency pair today declined from an opening high of 1.3150 to a low of 1.3083 in the American session. The currency pair was in a consolidative phase for most of today’s … “USD/CAD Trades Lower on Disappointing Duo of Employment Reports”
Japanese Yen Falls After Mixed Data, Risk Aversion Provides No Help
The Japanese yen was flat against the US dollar and fell versus other major currencies today despite the gloomy mood among investors as the trade war between the United States and China was ready to start. As for Japan’s macroeconomic data released on Friday, it was mixed. Household spending fell 3.9% in May from a year ago. The actual drop was bigger than a 1.5% decline predicted by analysts and the 1.3% fall registered … “Japanese Yen Falls After Mixed Data, Risk Aversion Provides No Help”
NZ Dollar Rallies for Fourth Day in a Row
The New Zealand dollar rallied today, rising for the fourth consecutive trading session against some of its rivals, including the US dollar and the euro. Analysts are not overly optimistic for the currency, though, saying that it was likely just a relief rally. Indeed, the kiwi has started a decline a month ago, therefore an upward correction was not unexpected. The current environment on the Forex market is not supportive to riskier currencies … “NZ Dollar Rallies for Fourth Day in a Row”
British Pound Rallies on Carney Speech, Later Declines on Brexit News
The British pound today rallied higher against the US dollar in the early European session following hawkish comments by the Bank of England Governor Mark Carney. The pound later erased all its gains in the American session following a news report that the German government was unconvinced with the UK’s latest post-Brexit Customs plan. The GBP/USD currency pair today rallied to a high of 1.3275 shortly before tumbling to a low of 1.3206 after the Brexit … “British Pound Rallies on Carney Speech, Later Declines on Brexit News”