The US dollar continued to demonstrate strength today, gaining for nine times in 11 days against the euro. Trading was thinner than usual during the current trading session as markets in many countries were closed for the May Labor Day. Macroeconomic data released in the United States on Tuesday was rather mixed. In particular, the manufacturing Purchasing Managers Index reported by the Institute of Supply Management fell in April to the lowest level since July 2017. … “US Dollar Continues to Demonstrate Strength Ahead of Fed Announcement”
Author: admin_mm
USD: FOMC Unlikely To Trigger Fresh Bullish Triggers For USD On Wed – BTMU
Has the greenback gone too far? Perhaps a hawkish Fed may not be enough after the recent stretch. Here is the view from BTMU: Here is their view, courtesy of eFXdata: BTMU Research discusses the USD outlook around the FOMC decision on Wednesday. “The Fed is expected to acknowledge that inflation has come closer to … “USD: FOMC Unlikely To Trigger Fresh Bullish Triggers For USD On Wed – BTMU”
Australian Dollar Reverses Gains After RBA Stands Pat
The Australian dollar attempted to rally intraday but halted its advance after the Reserve Bank of Australia announced its monetary policy decision. The RBA kept its main interest rate at 1.5%, as was widely expected. The central bank predicted that the Australian economic growth will pick up to a bit above 3% in 2018 and 2019. The bank also mentioned that “employment has grown strongly over the past year” but … “Australian Dollar Reverses Gains After RBA Stands Pat”
Sterling Pound Declines on Weak UK Manufacturing PMI
The Sterling pound today declined significantly against the US dollar following the release of the Markit/CIPS UK Manufacturing PMI in the early European session. The pound’s decline was further accelerated by the US dollar’s recovery as it extended its gains at the start of the new month. The GBP/USD currency pair lost over 100 points to decline from an opening high of 1.3773 to trade at a low of 1.3667 at the time of writing. The currency pair’s decline begun in the Asian session … “Sterling Pound Declines on Weak UK Manufacturing PMI”
Dollar Continues to Get Support from Interest Rate Hike Expectations
The US dollar was very strong on Monday as traders continued to bet on another interest rate hike from the Federal Reserve in the near future. Macroeconomic data released over Monday in the United States was disappointing for the most part, but that did not deter the greenback from rising. What caught the traders’ attention was the fact that annual core PCE inflation was very close to the Federal Reserve’s target level … “Dollar Continues to Get Support from Interest Rate Hike Expectations”
Euro Weak After Bunch of Soft Data from Eurozone
The euro was weak today following macroeconomic releases during the Monday’s trading session. Not all of the reports were bad, but markets paid more attention to the negative part of the data. The Italian Consumer Price Index rose 0.1% in April on a monthly basis, missing the average forecast of a 0.2% increase slightly. German retail sales dropped by 0.6% in March from the previous month — a result that was totally opposite to market expectations … “Euro Weak After Bunch of Soft Data from Eurozone”
The dollar should enjoy the ISM Manufacturing PMI and the Prices Paid component
The ISM Manufacturing PMI is the first hint towards the NFP, but the Prices component may steal the show. The US Dollar is well-positioned to take advantage of the outcome. The Institute for Supply Management’s purchasing managers’ index for the manufacturing sector is published on Wednesday, May 1st, at 14:00. The first day of the … “The dollar should enjoy the ISM Manufacturing PMI and the Prices Paid component”
Australian Dollar Soft After Mixed Australian & Chinese Economic Reports
The Australian dollar was falling since the beginning of today’s trading session and accelerated its decline after the release of mixed macroeconomic data from Australia and Australia’s biggest trading partner — China. The China Federation of Logistics and Purchasing released its Purchasing Managers’ Indices for April today. The manufacturing PMI slipped a little from 51.5 to 51.4, while the non-manufacturing PMI rose a bit from 54.6 to 54.8. Both indicators were close to market … “Australian Dollar Soft After Mixed Australian & Chinese Economic Reports”
Surging US Treasury Yields Help Dollar End Week Strong
The US dollar was very strong during the past trading week, for the most part thanks to surging US Treasury yields. Rising yields for US Treasuries boosted the dollar at the start of the week. The currency remained relatively strong even as yields retreated by the end of the week, though it posted losses on Friday despite better-than-expected US gross domestic product. The euro was volatile after the European Central Bank policy meeting. The currency fell … “Surging US Treasury Yields Help Dollar End Week Strong”
Pound Plunges as Economic Growth Slows Beyond Expectations
The Great Britain pound took a beating today as the vast majority of macroeconomic reports released over the Friday’s trading session were very disappointing. Markets primarily focused on the slowing economic growth, though other indicators were not impressive either. Britain’s gross domestic product rose just 0.1% in the first quarter of 2018 from the previous three months, slowing from the 0.4% rate of growth demonstrated in the fourth quarter of 2017. Economists … “Pound Plunges as Economic Growth Slows Beyond Expectations”