The Great Britain pound was ending the Thursday’s trading session mixed. The sterling rose against some rivals, propelled higher by very good retail sales data, but fell versus others, dragged down by the market’s risk-negative sentiment that followed the dovish policy statement from the European Central Bank. The Office for National Statistics reported that Britain’s retail sales rose 1.3% in May from April. That is compared … “Pound Mixed amid Clashing Fundamentals”
Author: admin_mm
Australian Dollar Lower on Risk Aversion, Economic Data
The Australian dollar was extremely soft against other most-traded currencies, with the notable exception of the euro, as the unexpectedly dovish policy statement of the European Central Bank as well as the threat of the US-China trade war put the market into the risk-off mode. Macroeconomic data in Australia and Australia’s biggest trading partner, China, hurt the Aussie as well. The Australian Bureau of Statistics reported that employment rose by 12,000 in May from April, trailing the average forecast … “Australian Dollar Lower on Risk Aversion, Economic Data”
US Dollar Surges After FOMC & ECB Meetings
The US dollar gained sharply on other currencies today after the European Central Bank made a surprisingly dovish policy statement. Yesterday, the currency had a mixed reaction to the hawkish statement from the Federal Reserve, rallying initially but falling afterwards. Yet Fed hawkishness is a bullish factor in the long and may be responsible to some degree for the currency’s rally today. Yesterday, the Federal Open Market Committee left interest rates unchanged, … “US Dollar Surges After FOMC & ECB Meetings”
Euro Sinks As ECB Says No Interest Rate Hikes in 2018
The euro dipped today following the European Central Bank policy meeting as the ECB signaled that it is not going to raise interest rates in 2018 — a message that markets did not like. The central bank made a policy decision today, keeping its monetary policy unchanged, as was widely expected. The ECB stated that it expects that the quantitative easing program will stay in place till the end of the year: … “Euro Sinks As ECB Says No Interest Rate Hikes in 2018”
USD: FOMC Signals 2 More Hikes In ’18 In Line With Our Call But There Is Another Hawkish Move – SEB
The Fed raised rates and upgraded its dot plot. Yet the US Dollar did not hold onto to its gains. What’s next? Here is their view, courtesy of eFXdata: “As expected, the Fed raised the target range for the federal funds rate to 1.75 to 2.00 percent at the FOMC meeting that concluded today. The … “USD: FOMC Signals 2 More Hikes In ’18 In Line With Our Call But There Is Another Hawkish Move – SEB”
USD: FOMC Signals 2 More Hikes In ’18 In Line With Our Call But There Is Another Hawkish Move – SEB
The Fed raised rates and upgraded its dot plot. Yet the US Dollar did not hold onto to its gains. What’s next? Here is their view, courtesy of eFXdata: “As expected, the Fed raised the target range for the federal funds rate to 1.75 to 2.00 percent at the FOMC meeting that concluded today. The … “USD: FOMC Signals 2 More Hikes In ’18 In Line With Our Call But There Is Another Hawkish Move – SEB”
Sterling Pound Trades Lower on UK Inflation Data, Later Recovers
The Sterling pound today traded lower against the US dollar following the release of the UK Consumer Price Index report for May in the early European session. The GBP/USD currency pair later rallied higher from the mid-European session into the North American session as the US dollar weakened against the pound. The GBP/USD currency pair initially declined from an opening high of 1.3375 to a low of 1.3307 before rallying to a new high of 1.3383 in the American session. … “Sterling Pound Trades Lower on UK Inflation Data, Later Recovers”
Swiss Franc Firm Despite Disappointing PPI
The Swiss franc rose versus some of its most-traded counterparts, though not against the rather strong euro, even as the growth of the Producer Price Index trailed market expectations. The Federal Statistical Office reported that the PPI rose 0.2% in May from the previous month. That is compared to the predicted increase of 0.3% and the 0.4% gain registered in April. The report cited the following reason for the increase of the index: The rise is due in particular to higher … “Swiss Franc Firm Despite Disappointing PPI”
Australian Dollar Gains As Consumer Sentiment Improves
The Australian dollar rose against most of its major rivals, though not against the euro, after Australia’s consumer sentiment improved. The gains were limited, though, as the central bank’s head confirmed that an interest rate hike is unlikely in the near future. The Westpac Melbourne Institute Index of Consumer Sentiment rose 0.3% in June from May. The increase followed the 0.6% drop in the previous month. The report commented on the result: The consumer mood … “Australian Dollar Gains As Consumer Sentiment Improves”
Bitcoin at critical support, Ehtereum and Ripple look worse
Bitcoin, Ethereum, and Ripple suffer another major sell-off, extending their falls. The three cryptocurrencies have very different technical pictures. The Confluence Detector shows clusters of technical levels according to their importance. BTC/USD has strong support at $6,381 The price of Bitcoin has support at $6,381. This is the convergence of the Bolinger Band one-hour Lower, the … “Bitcoin at critical support, Ehtereum and Ripple look worse”