Macroeconomic data released in Japan today was rather disappointing. Yet that did not prevent a sharp jump of the Japanese yen on the back of the worsening market sentiment. Previously, markets felt encouragement from signs that the United States and China want to avoid trade wars. But such optimism evaporated after US President Donald Trump contradicted his own economic officials, saying that there is no deal … “Yen Jumps Sharply on Worsening Sentiment, Ignores Economic Data”
Author: admin_mm
ECB Meeting Minutes could reveal how worried they are about the “moderation”
The ECB Meeting Minutes will shed some light on the Bank’s views on the economy. Hints about future monetary policy are unlikely but could surprise. The common currency is poorly-positioned ahead of the event. The European Central Bank publishes the Monetary Policy Accounts on Thursday, May 24th, at 11:30 GMT. The document provides more detail … “ECB Meeting Minutes could reveal how worried they are about the “moderation””
Loonie Unable to Maintain Rally Despite Supportive Fundamentals
The Canadian dollar fell today after rallying intraday. That was surprising, considering that fundamentals looked extremely supportive for the currency. Statistics Canada reported that wholesale sales climbed 1.1% in March from February, beating the average forecast of 0.8%. Price for crude oil, Canada’s major export, jumped above the $80 mark. Yet all those factors were unable to help the loonie to keep gains, and the currency fell below … “Loonie Unable to Maintain Rally Despite Supportive Fundamentals”
US Dollar Flat, Waits for Fed Minutes
The US dollar traded almost flat against most of its major peers amid profit-taking and in anticipation of the upcoming policy minutes from the Federal Reserve. Analysts pointed out that the greenback has rallied as much as 7% since February, prompting traders to look for more reasons to buy the currency. Yet fundamentally, the environment remained positive for the currency. US Treasury yields pulled back from the 7-year highs during the Tuesday’s trading session. … “US Dollar Flat, Waits for Fed Minutes”
GBP/USD Rallies Then Declines on Testimonies by BoE Members
The GBP/USD currency pair today retreated from its overnight rally after encountering resistance just before the crucial 1.3500 psychological level. The currency pair was on an uptrend from the early European session before reversing in the mid-European session following testimonies by Bank of England policymakers before the UK Parliament’s Treasury Select Committee. The GBP/USD currency pair today declined from a high of 1.3492 to a low of 1.3412 losing about 80 points. … “GBP/USD Rallies Then Declines on Testimonies by BoE Members”
Japanese Yen Bounces After Falling on CPI & Risk Appetite
The Japanese yen fell intraday, dragged down by underwhelming domestic macroeconomic data and the positive market sentiment. Yet the currency has bounced by now as the impact of risk appetite seemed to wane. The Bank of Japan reported that the Consumer Price Index rose 0.5% in April from a year ago. That was a slower pace of growth than 0.6% predicted by analysts and 0.7% registered in the previous month. Bank of Japan Governor Haruhiko Kuroda was … “Japanese Yen Bounces After Falling on CPI & Risk Appetite”
3 things to look out for in the Fed Meeting Minutes
The FOMC Meeting Minutes from the May decision will shed some light on the Fed’s thinking. The usage of the word “symmetric” in regards to the Fed’s inflation target will come under specific scrutiny and two other points are important to watch. The US Dollar is poised to remain bid unless the Fed sends a … “3 things to look out for in the Fed Meeting Minutes”
Australian Dollar Attempts to Keep Rising, Fails
The Australian dollar rose earlier today, extending yesterday’s rally, on the back of the positive market sentiment. Yet the currency has retraced its gains by now. Fears of trade wars receded after the United States and China agreed to make various concessions to avoid conflict. The USA put tariffs on China’s goods on hold, while China reduced import duty on passenger cars. Yet US President Donald Trump came under criticism for concessions … “Australian Dollar Attempts to Keep Rising, Fails”
Leverage Yourself: How Will the New ESMA Regulations Affect Brokers?
MiFID, GDPR, and now ESMA… You might be forgiven for thinking that there’s been an outbreak of Abbreviation fever in the European financial markets. The fact is, if you’re a serious trader or broker, you’d better get in line with the new regulations—and fast! ESMA, or the European Securities and Markets Authority, is the financial … “Leverage Yourself: How Will the New ESMA Regulations Affect Brokers?”
NZ Dollar Bounces After Decline Caused by Retail Sales Data
The New Zealand dollar went down intraday during the current trading session due to disappointing retail sales data. But the currency managed to bounce later thanks to risk appetite on the market. Statistics New Zealand reported that retail sales rose by just meager 0.1% in the March quarter of 2018 from the previous three months, far less than forecasters had predicted — 1.0%. Furthermore, the previous quarter’s increase was revised … “NZ Dollar Bounces After Decline Caused by Retail Sales Data”