The GBP/USD currency pair today rallied higher after the release of UK inflation data for January as measured by the consumer price index. The currency pair later declined as the US dollar gained strength across the board, but did not give back all its gains. The GBP/USD currency pair gained over 90 points from an initial low of 1.3831 to hit a high of 1.3925, then later declined to an intra-day low of 1.3851. The currency … “GBP/USD Rallies Higher on UK Inflation Data, Later Declines”
Author: admin_mm
Rand Gains on News About Possible End to President Zuma’s Rule
The South African rand gained on the US dollar today after news broke out that President Jacob Zuma, who was in power since 2009, may lose his post. Zuma has lost leadership of the ruling African National Congress party back in December. Now, there are rumors that the ANC asked Zuma to resign or face a vote of confidence in the parliament. Analysts believe that he will very likely … “Rand Gains on News About Possible End to President Zuma’s Rule”
Australian Dollar Steady vs. US Dollar, Tumbles vs. Euro & Yen
The Australian dollar held steady against its US counterpart but dropped against the euro and crashed versus the Japanese yen today. Today’s macroeconomic data in Australia was positive, but comments from central bank’s officials were not that good for the currency. National Australia Bank business confidence index rose from +10 to +12 in January, touching the highest level since April. Experts had anticipated it to stay … “Australian Dollar Steady vs. US Dollar, Tumbles vs. Euro & Yen”
EUR/USD: Further Correction Likely N-Term As European Investors Left ‘Over-Hedged’ – Barclays
The euro is rising amid a better market mood but remains in a wait-and-see mode. Can it continue higher? Here is their view, courtesy of eFXnews: Barclays Capital Research discusses EUR/USD this week and thinks that further risk reduction should continue to weigh on the pair. “Investors seem most heavily positioned in growth-sensitive currencies, including the … “EUR/USD: Further Correction Likely N-Term As European Investors Left ‘Over-Hedged’ – Barclays”
USD/CAD: Canada’s January Jobs Report A ‘Mysterious Mix Of Good And Bad’ – CIBC
Canada lost 88K jobs and saw the unemployment rate rise to 5.9%. But it is not only bad news. Here is the view from CIBC: Here is their view, courtesy of eFXnews: CIBC Research discusses the reaction to today’s Canada’s jobs report for the month of January. “Market participants are getting schooled in the ways … “USD/CAD: Canada’s January Jobs Report A ‘Mysterious Mix Of Good And Bad’ – CIBC”
Canadian Dollar Hit by Biggest Decline in Employment Since 2009
The Canadian dollar dropped today after Canada’s employment ended the longest streak of gains since 2002, contracting last month. The loonie managed to bounce against European majors like the euro and the Swiss franc but kept losses versus such currencies as the US dollar and the Japanese yen. Canada’s employment shed 88,000 jobs in January following the 78,600 gain in December. That is instead of rising by 10,300 as analysts had predicted. It … “Canadian Dollar Hit by Biggest Decline in Employment Since 2009”
GBP/USD Hits New 3-Week Lows on Mixed UK Data
The GBP/USD currency pair today dropped to new 3-week lows following the release of weak UK industrial production and trade balance data. The pair’s decline was further accelerated by a rebound in the US dollar demand supported by the sell-off across most European equities. The GBP/USD currency pair lost over 190 points from a high of 1.3987 to drop to a low of 1.3790 in the mid-European session. The currency pair was on an uptrend during the Asian session following … “GBP/USD Hits New 3-Week Lows on Mixed UK Data”
Aussie Falls After RBA Statement & Home Loans Data, Bounces Later
The Australian currency behaved basically similarly to its New Zealand counterpart today, falling during the Asian session after the release of macroeconomic data from China but rebounding by now. The currency also fell following the release of the Monetary Policy Statement by the Reserve Bank of Australia and the home loans report. The RBA was cautiously optimistic in its statement. The central bank left its forecasts for economic growth and inflation in 2018 unchanged. At the same time, … “Aussie Falls After RBA Statement & Home Loans Data, Bounces Later”
NZ Dollar Bounce After Decline Caused by China’s Data
The New Zealand dollar fell today following the release of reports that showed slower growth of both consumer and producer prices in China, New Zealand’s biggest trading partner. Yet the currency managed to bounce and is now trading either at or above the opening levels versus its most-traded rivals. The National Bureau of Statistics of China reported that the Consumer Price Index rose by 1.5% in January from a year ago, in line with expectations, … “NZ Dollar Bounce After Decline Caused by China’s Data”
AUD/USD, NZD/USD: The Sinking Antipodes; What’s The Trade? – TD
The sell-offs in financial markets are beginning to bite the risk currencies. Both the Australian and the New Zealand dollars are under growing pressure. What is the trade? Here is their view, courtesy of eFXnews: TD Research discusses AUD and NZD outlook and notes that a mix of negative risk sentiment, reticent central banks, and softer … “AUD/USD, NZD/USD: The Sinking Antipodes; What’s The Trade? – TD”