The GBP/USD currency pair today rallied to new highs buoyed by US dollar weakness due to a decline in US Treasury yields and positive UK credit data. The currency pair was on a donwtrend from the Asian session to the early European session as investors reacted to political uncertainty in the UK. The GBP/USD currency pair gained 170 points from a low of 1.3980 in the early European session to hit a high of 1.4150 in the early American session. The pound opened … “GBP/USD Rallies Higher on UK Credit Data and US Dollar Weakness”
Author: admin_mm
NZ Dollar Behaves Similar to Aussie, Ignoring New Zealand Trade Balance
The New Zealand dollar fell earlier today but has bounced by now, behaving similar to its Australian counterpart. The trade balance report released close to the end of the previous trading session provided a positive surprise, but it had a negligible impact on the currency. The New Zealand trade balance logged a surplus of NZ$640 million in December after posting a deficit of NZ$1,233 million in the previous month. The actual figure was far better than … “NZ Dollar Behaves Similar to Aussie, Ignoring New Zealand Trade Balance”
Aussie Falls Despite Improving Business Confidence, Trims Losses Later
The Australian dollar slipped intraday despite the improving business confidence but has trimmed its losses by now, erasing them against the US dollar outright. The National Australia Bank reported that the business confidence index increased from +7 to +11 in December, reaching the highest level since July 2017. The report said that the rise was “perhaps driven by a stronger global economic backdrop.” The business conditions index was unchanged … “Aussie Falls Despite Improving Business Confidence, Trims Losses Later”
Is EUR/USD heading to 1.27? Two models point that way
EUR/USD topped 1.25 in a turbulent week before falling back to the 1.24 handle. Mnuchin, Draghi, and Trump all moved the world’s most popular currency pair. What do the technical levels say? Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD: Path Of Least Resistance Remains A Higher EUR; S/T Models Point … “Is EUR/USD heading to 1.27? Two models point that way”
Our Predictions of the Financial World in 2018
The predictions on 2017 have now come to an end. For every great prediction that the experts can hang their hat on, there are about five that they got wrong. Now that the New Year has started and the excitement of the holiday season is well and truly out of our system, we risk getting … “Our Predictions of the Financial World in 2018”
Euro Declines Against US Dollar on Positive US Inflation Data
The euro today posted a significant decline against the US dollar after the release of US inflation data as measured by the Personal Consumption Expenditures. The euro was on a downtrend against the greenback from the Asian session due to the positive investor sentiment towards the US dollar. The EUR/USD currency pair declined by over 80 points from its opening high of 1.2432 to hit a low of 1.2346 at the time of writing. The currency pair opened today’s session on a downtrend … “Euro Declines Against US Dollar on Positive US Inflation Data”
Greenback Tries to Regain Ground on Monday, AUD/USD Goes Lower
The Australian dollar slipped versus its US counterpart today as the greenback was trying to regain ground. The Aussie was mostly little changed against other most-traded peers, though gained on the Swiss franc. The US currency was trying to recoup following last week’s losses, thus driving its rivals down. Most market analysts believed, though, that the currency remained rather vulnerable. Indeed, today’s drop of AUD/USD looked … “Greenback Tries to Regain Ground on Monday, AUD/USD Goes Lower”
Dollar Remains Extremely Vulnerable, Falls vs. Major Rivals Over Week
The theme of a weak US dollar continued to dominate the Forex market this week as the currency remained vulnerable due to a range of factors. The week started positively for the greenback as the US government reopened after a shutdown. Yet that did not last long, and the currency slumped after US Treasury Secretary Steven Mnuchin suggested that a weak dollar would be beneficial to the US economy. President Donald Trump tried to soothe the reaction to the comments, … “Dollar Remains Extremely Vulnerable, Falls vs. Major Rivals Over Week”
Canadian Dollar Firm Despite Falling CPI
The Canadian dollar rose against some of its major peers today, including the US dollar and the euro, though not all of them, falling versus the Japanese yen. The currency was relatively firm despite the bigger-than-expected drop of consumer prices. The Consumer Price Index fell 0.4% in December from the previous month (not adjusted for seasonal variations) after rising 0.3% in November. Economists had counted on a smaller 0.3% decrease. The core components … “Canadian Dollar Firm Despite Falling CPI”
US Dollar Weakens Against Euro As Q4 Economic Growth Disappoint Estimates
The US dollar weakened against the euro on Friday in the wake of a disappointing reading for gross domestic product growth in the fourth quarter of 2017. The greenback failed to find support despite a positive upturn in durable goods orders and a strong overall economic performance in 2017. The US Bureau of Economic Analysis released a report on economic growth in the fourth quarter of 2017 today. The report revealed that gross domestic product grew by 2.6% in the final quarter of the last year, … “US Dollar Weakens Against Euro As Q4 Economic Growth Disappoint Estimates”