The Canadian dollar rallied versus its US counterpart thanks to the broad-based weakness of the US currency. The loonie fell versus its other most-traded rivals, but has trimmed losses by the end of the Tuesday’s trading session. One of the reasons for the currency’s rally was the strong performance of crude oil, Canada’s most important export commodity. Although prices for crude have retreated from the day’s highs by Tuesday’s close, intraday they reached the highest … “CAD Gains on USD, Trims Losses vs. Other Rivals”
Author: admin_mm
US Dollar Starts 2018 with Extreme Weakness
The US dollar started 2018 extremely week, extending the trend from 2017 and falling against all of its major rivals. Traders continued to doubt that the Federal Reserve will be able to fulfill its plans of three interest rate hikes this year. Coupled with expectations of tighter monetary policy from central banks of other developed nations, that means the dollar is losing its major supporting factor — … “US Dollar Starts 2018 with Extreme Weakness”
Protected: 5 Most Predictable Currency Pairs – Q1 2018
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GBP Gains on USD, Falls vs. Other Rivals After Manufacturing PMI
The Great Britain pound gained on the US dollar but fell versus other most-traded currencies after the release of Britain’s manufacturing PMI. The seasonally adjusted IHS Markit/CIPS Manufacturing Purchasing Managers’ Index fell to 56.3 in December from 58.2 in November, far below the forecast level of 58.0. Still, it was far above the neutral 50.0 level that separates expansion from contraction, and the average reading in the last quarter of 2017 was … “GBP Gains on USD, Falls vs. Other Rivals After Manufacturing PMI”
EUR/USD Rallies to 4-Month Highs on First Trading Day of 2018
The EUR/USD currency pair today rallied to new 4-month highs as the positive investor sentiment towards the single currency was carried over from 2017. The euro’s rally was also boosted by the in-line Eurozone PMI data released by Markit Economics early in the European session. The EUR/USD currency pair today rallied by over 70 points from a daily low of 1.2006 hit in the Asian session to a high of 1.2080 in the mid-European session. The currency pair … “EUR/USD Rallies to 4-Month Highs on First Trading Day of 2018”
AUD/USD Gains After Caixin China Manufacturing PMI
The Australian dollar rallied on the first trading day of 2018 thanks to positive economic data from China. But while the currency managed to hold onto gains versus its US counterpart, the Aussie retreated against other rivals. The Caixin China General Manufacturing PMI rose from 50.8 in November to 51.1 in December. That was a noticeably better reading than 50.7 predicted by analysts. China is Australia’s biggest trading partner, … “AUD/USD Gains After Caixin China Manufacturing PMI”
Thanks Ireland: The Amicable Divorce
We all know that politics makes strange bedfellows, but in the case of Britain negotiating with EU over Brexit, those bedfellows could be no stranger. After months of stalled talks, Britain’s Theresa May and EU President Jean-Claude Juncker may have pulled a rabbit out of the hat. For what seemed a lifetime, the two sides … “Thanks Ireland: The Amicable Divorce”
Dollar Ends Last Trading Week of 2017 on Weak Footing
The last trading week of the year was not good for the US dollar as the currency was falling against all of its rivals during holiday’s quiet trading, dropping more than 1% against most of them. As to be expected, there were no major events during the week. With no important new factors to drive the market, analysts were discussing the old news, like the US tax reform and the Federal Reserve’s plans … “Dollar Ends Last Trading Week of 2017 on Weak Footing”
Euro Rallies Higher Against US Dollar on Last 2017 Trading Day
The euro today rallied higher against the US dollar mainly boosted by weak US Treasury yields, which contributed significantly to the greenback’s overall weakness. The release of the German CPI data for December could have also contributed to the single currency’s rally despite recording a slight decline. The EUR/USD currency pair rallied by over 70 points from its daily low of 1.1936 reached during the Asian session to hit a high of 1.2011 in the American … “Euro Rallies Higher Against US Dollar on Last 2017 Trading Day”
USD/CAD Declines to Trade near 2-Month Lows on Soft US Data
The USD/CAD currency pair today declined to trade near 2-month lows after the release of weak US advance goods trade balance data in the North American session. If the pair does not recoup its current losses, today would mark the seventh straight session in which the pair closes with a loss. The USD/CAD currency pair lost over 70 points to decline from a daily high of 1.2653 to a low of 1.2577 in the early … “USD/CAD Declines to Trade near 2-Month Lows on Soft US Data”