The Canadian dollar today crashed to new lows against the US dollar following the release of disappointing Canadian Q1 GDP data in the early American session. The loonie’s fall triggered a rally in the USD/CAD currency pair as investors dumped the commodity-linked loonie in favor of the greenback. The USD/CAD currency pair today rallied from a low of 1.2815 to a high of 1.2984 following the Canadian and US releases. The currency pair was on a downtrend from the start of today’s session to the mid-European … “Canadian Dollar Drops Against US Dollar on Weak Canadian GDP Data”
Author: admin_mm
Bitcoin path of least resistance is up, Ripple is vulnerable, Ethereum looking for a direction
The Confluence Detector shows clusters of technical levels according to their importance. Bitcoin is looking bullish, Ethereum is looking for a direction, while Ripple is vulnerable. BTC/USD path of least resistance is up The price of Bitcoin (BTC/USD) extends its gradual recovery. Can it continue higher? The Technical Confluence Detector shows that the digital coin … “Bitcoin path of least resistance is up, Ripple is vulnerable, Ethereum looking for a direction”
Euro Rallies on Positive Eurozone Inflation Data, Later Declines
The euro today rallied higher against the US dollar following the release of upbeat Eurozone inflation data, which came in close to the European Central Bank‘s inflation target. The single currency was further boosted by the decision by Italian political parties to form a government instead of opting for fresh elections. The EUR/USD currency pair today rallied to a high of 1.1724 from a low of 1.1648 gaining over 70 points, but was on a downtrend at the time of writing. … “Euro Rallies on Positive Eurozone Inflation Data, Later Declines”
NZ Dollar Mirrors Aussie’s Mixed Performance
The New Zealand dollar behaved in the similar manner as its Australian counterpart today, rising against some most-traded peers and falling versus others. Unlike the Aussie though, the kiwi had no positive domestic macroeconomic reports. The ANZ business confidence worsened to -27.2 in May from -23.4 in the previous month. The activity outlook fell from 17.8 to 13.6. The report said: The survey made for fairly uninspiring reading this month, with all … “NZ Dollar Mirrors Aussie’s Mixed Performance”
Australian Dollar Mixed After Macroeconomic Data
The Australian dollar was mixed today, rising against some rivals and falling versus others. Macroeconomic data was mixed as well, giving the currency no clear direction. Private capital expenditure rose 0.4% in the March quarter from the previous three months, two times slower than analysts had predicted — 0.8%. Private sector credit rose 0.4% in April from March, matching expectations. The China Federation of Logistics and Purchasing … “Australian Dollar Mixed After Macroeconomic Data”
USD/CAD may be pricing a higher Canadian GDP – Preview
Quarterly Canadian GDP is expected to show moderate growth in the cold first quarter. The BOC’s upbeat statement raises expectations for more robust growth. The USD/CAD has traded in a broad channel ahead of the release. Canada publishes its GDP report on Thursday, May 31st, at 12:30 GMT. The nation releases growth figures on a … “USD/CAD may be pricing a higher Canadian GDP – Preview”
Are Bonds No Longer a Safe Bet?
A bull market in bonds has existed since 1980, when the yield of the benchmark US 30-year Treasury bond reached 15%. This yield continued to fall to its current low of 2-3%. The big question on investors’ minds—has the bull move run its course? Market wisdom states that bells won’t ring at the top or … “Are Bonds No Longer a Safe Bet?”
BOC sends the C$ higher and a rate hike is now expected in July
The BOC left rates unchanged but made significant hawkish changes to the statement. The USD/CAD is falling sharply but still trades in an uptrend channel. The Bank of Canada left the interest rate unchanged at 1.25% as widely expected. However, they made significant changes. The biggest market-movers are in the words they omitted rather than added. … “BOC sends the C$ higher and a rate hike is now expected in July”
Canadian Dollar Rallies Higher on BoC Interest Rate Decision
The Canadian dollar today rallied against its US counterpart driving the USD/CAD currency pair to new lows after the Bank of Canada announced its interest rate decision. The loonie’s rally was further boosted by disappointing releases from the US docket such as the weak quarterly GDP data. The USD/CAD currency pair today crashed from a high of 1.3039 to a low of 1.2839 losing about 200 points after the BoC statement. The currency … “Canadian Dollar Rallies Higher on BoC Interest Rate Decision”
Euro Rallies Higher on Upbeat German Retail Sales Data
The euro today rallied higher against the US dollar following the release of upbeat German retail sales data in the early European session. However, the euro was still weighed down by the political uncertainty in Italy and the high Italian 2-year bond yields, which rose above 2.5%. The EUR/USD currency pair rallied from a low of 1.1518 to a high of 1.1620 following the upbeat German data. The currency pair began rallying higher in the late Asian … “Euro Rallies Higher on Upbeat German Retail Sales Data”