The pound is looking perky and this may happen for a good reason. April is a good month for Sterling. Here is their view, courtesy of eFXnews: ING Research discusses GBP/USD outlook and maintains a strong bullish bias for the month of April. “All the cards are falling into place for GBP/USD to post a … “GBP/USD: Bullish In April; All Cards Falling Into Short-Term Positives – ING”
Author: admin_mm
US Dollar Ends Week Mixed, Canadian Dollar Strongest
The US dollar ended the week mixed, rising against such majors like the euro and the Japanese yen, but falling versus such currencies like the Great Britain pound and the Canadian dollar. While nonfarm payrolls was the main economic release during the past week, traders paid more attention to escalation of trade war rhetoric between the United States and China. China and the USA were exchanging back and forth with more and more … “US Dollar Ends Week Mixed, Canadian Dollar Strongest”
Canadian Dollar Falls Even As Employment Grows
The Canadian dollar fell on Friday despite better-than-expected employment data. Other economic reports were not that good, though, and there were other fundamental factors that might have caused the decline. Canada’s employment grew by 32,300 jobs in March, beating the consensus forecast of a 20,100 increase. The unemployment rate remained at 5.8% and its average level in the first quarter of this year was the lowest since mid-1970s. Meanwhile, the Ivey PMI … “Canadian Dollar Falls Even As Employment Grows”
Euro Rallies Against US Dollar on Weak US Employment Data
The euro today rallied against the US dollar following the release of disappointing US non-farm payrolls report for March. Earlier Markit Economics PMI releases covering the European docket had triggered the euro’s initial uptrend following a major decline during the Asian session. The EUR/USD currency pair gained over 60 points to rally from a low of 1.2215 to a high of 1.2280 at the time of writing. The currency pair had rallied briefly earlier following … “Euro Rallies Against US Dollar on Weak US Employment Data”
US Dollar Soft After Underwhelming NFP, Trade War Escalation
The US dollar dropped against its most-traded peers today following the release of surprisingly underwhelming jobs data and signs of escalation of trade tensions between the United States and China. US nonfarm payrolls grew by just 103,000 jobs in March, far slower than the increase analysts had predicted — by 188,000. Furthermore, the unemployment rate remained unchanged at 4.1%, while experts had promised a small decrease to 4.0%. Wage growth was the only … “US Dollar Soft After Underwhelming NFP, Trade War Escalation”
GBP/USD: Staying Structurally Bullish But Unlikely To See A ‘Smooth Straight Line’ – BTMU
The pound has been on the back foot against the dollar but looks better against the euro. What’s next for cable? Here is the view from BTMU: Here is their view, courtesy of eFXnews: BTMU Research discusses GBP outlook and maintains a structural bullish bias targeting the pair around 1.44 by end of Q2, ahead of … “GBP/USD: Staying Structurally Bullish But Unlikely To See A ‘Smooth Straight Line’ – BTMU”
Swiss Franc Gains After Inflation Report
The Swiss franc gained on its most-trade rivals, though not on the US dollar, today after the release of a good inflation print. The Federal Statistical Office reported that the Swiss Consumer Price Index rose 0.4% in March, the same as in February. Analysts had predicted a slower growth by 0.2%. The report said: Various factors contributed to the 0.4% rise compared with the previous month, such as an increase in the price of international package holidays, air … “Swiss Franc Gains After Inflation Report”
Euro Declines Against US Dollar on Mixed Eurozone Data
The euro today declined against the US dollar following the release of weak Markit services PMIs from across the Eurozone in the early European session. The release of weak US data early in the American session could not reverse the euro’s slide against the greenback. The EUR/USD currency pair today lost over 50 points to decline from a high of 1.2290 to trade at a low of 1.2235. The currency pair’s initial decline was triggered by the release of German … “Euro Declines Against US Dollar on Mixed Eurozone Data”
Australian Dollar Weak Despite Positive Fundamentals
The Australian dollar was rather weak today, falling against the US dollar and hovering near the opening level against such currencies like the euro and the Japanese yen. It was surprising considering positive macroeconomic releases from Australia and the generally good market sentiment. The Australian Industry Group services index climbed from 54.0 in February to 56.9 in January. Australia’s trade balance logged a surplus of A$0.83 billion in February. While it … “Australian Dollar Weak Despite Positive Fundamentals”
Canadian Dollar Rebound from Intraday Drop
The Canadian dollar declined intraday during Wednesday’s trading session but has managed to erase its losses versus most major currencies and even logged gains against some of them. The main theme for the Wednesday’s session was escalation of trade tensions between China and the United States. The resulting risk aversion drove down risky assets, including crude oil — Canada’s biggest source of export income. Yet the loonie managed to reverse … “Canadian Dollar Rebound from Intraday Drop”