The Canadian dollar is waiting for the rate decision from the Bank of Canada. Is everything already priced in? Some won’t see Dollar/CAD moving lower. Here is another view: Here is their view, courtesy of eFXnews: Bank of America Merrill Research discusses USD/CAD outlook into the BoC January policy meeting on Wednesday. “We expect the … “USD/CAD: Priced ‘Close To Perfection’; Balance Of Risks Into BoC – BofAML”
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US Dollar Rises Against Euro on Higher Expectations That ECB Will Maintain Stimulus
The US dollar took a minor step away from the lowest level in three years against the euro following modest gains on Tuesday amid expectations that monetary stimulus in Europe will be maintained. The greenback also rose against the British pound as it largely ignored a report that revealed weaker manufacturing activity in the New York region. The European Central Bank is unlikely to have a change of mind any time soon … “US Dollar Rises Against Euro on Higher Expectations That ECB Will Maintain Stimulus”
Pound Declines Against US Dollar on Weak UK Inflation Data
The British pound today declined against the US dollar after the release of weak UK inflation data as tracked by the Consumer Price Index. The pound retraced most of yesterday’s gains as demand for the US dollar increased across the board. The GBP/USD currency pair declined by over 60 points from a session high of 1.3806 to hit a low of 1.3741. The currency pair headed lower during the Asian session, but extended its downtrend after the release … “Pound Declines Against US Dollar on Weak UK Inflation Data”
How central banks disrupt the forex market
One of the most common refrains heard by forex traders is about the central banks manipulating currency rates. This refrain often refers to the purchase of significant amounts of foreign currencies by a central bank, but there are many other ways that a central bank can and will manipulate world currency markets. Some of these … “How central banks disrupt the forex market”
Euro Rallies Higher Despite Lack of Major Economic Data
The euro today rallied higher against the US dollar despite the lack of any major economic releases from the Eurozone, while US markets remained closed. The euro’s rally was largely triggered by the aggressive selling of the US dollar across the board. The EUR/USD currency pair gained over 100 points to rally from a low of 1.2187 to hit a high of 1.2296 in the mid-European session. The euro carried over Friday’s massive rally, which was … “Euro Rallies Higher Despite Lack of Major Economic Data”
Euro Rallies Higher on German Coalition Talks Breakthrough
The euro today rallied higher against the US dollar after news emerged that Angela Merkel was finally on the verge of forming a coalition government. The euro extended yesterday’s rally, which was triggered by the hawkish European Central Bank minutes, as the German political headlines ended months of uncertainty. The EUR/USD currency pair gained over 100 points to rally from a low of 1.2039 to a high of 1.2149 in the early American session. The euro’s biggest … “Euro Rallies Higher on German Coalition Talks Breakthrough”
Euro Rallies Higher on ECB Minutes and Weak US Data
The euro today rallied to new highs against the US dollar after the European Central Bank released the minutes of its last meeting. The single currency rallied much higher during the early North American session after the release of weak US macro data. The EUR/USD currency pair gained over 100 points to rally from a low of 1.1928 hit in the early European session to reach a high of 1.2060 in the early American session. The release … “Euro Rallies Higher on ECB Minutes and Weak US Data”
US Dollar Retreats as Economic Data Reveals Signs of Lagging Inflation
The US dollar declined against the euro on Thursday following economic data in the United States that showed a small drop in prices at factory gates, which is an important indicator of inflation. The greenback also retreated against the British pound, despite the lack of positive releases in the United Kingdom today. US producer prices dropped for the first time in about one and a half years in December, according to a fresh report from the Bureau of Labor Statistics. The producer … “US Dollar Retreats as Economic Data Reveals Signs of Lagging Inflation”
Scope For Further JPY Strength Towards 110 After BoJ’s Move – BTMU
The Bank of Japan triggered a “mini taper tantrum” with its tests. In addition, the news about China’s intention to slow buys of US Treasuries also played its part in pushing USD/JPY lower. What’s next? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research discusses USD/JPY outlook and notes that the JPY is the … “Scope For Further JPY Strength Towards 110 After BoJ’s Move – BTMU”
British Pound Swings Widely on UK Data and Chinese Rumors
The British pound today recorded wide swings against the US dollar as it dropped to 8-week lows and rallied higher on US dollar weakness. The rally was mainly triggered by rumors originating from China, but was short-lived as the pound headed lower much later. The GBP/USD currency pair started today’s session on a downtrend where it hit a low of 1.3482, but it rallied higher to hit a high of 1.3562 in the mid-European session. … “British Pound Swings Widely on UK Data and Chinese Rumors”