The Great Britain pound rose today even though Bank of England Governor Mark Carney made pessimistic comments about the future of the UK economy on Sunday. Carney suggested that the economy will experience a significant slowdown if the government fails to secure a trade deal with the European Union: In the short term, without question, if we have materially less access (to the EUâs single market) than we have … “Pound Ignores Carney’s Pessimistic Comments”
Author: admin_mm
Japanese Yen Falls After Kuroda’s Speech, Quickly Reverses Drop Later
The Japanese yen dropped sharply today after Bank of Japan Governor Haruhiko Kuroda signaled that the central bank is going to maintain monetary stimulus for the a long time. Yet the currency quickly reversed its movement, trimming losses against some currencies, while erasing them outright versus others. Kuroda expressed positive outlook for Japan’s economy in today’s speech, saying that “the economic recovery has taken hold more … “Japanese Yen Falls After Kuroda’s Speech, Quickly Reverses Drop Later”
Companies Dabbling in Cryptos and Making Big Bucks
Cryptocurrency has gone beyond a speculative new trend and is being embraced worldwide by companies and investors. These digital currencies such as Bitcoin and Ethereum are rising in value and businesses are finding ways to benefit. There are many advantages these digital currencies provide to companies, whether they take small steps, such as accepting these … “Companies Dabbling in Cryptos and Making Big Bucks”
US Dollar Remains Stable After Week of Important Events
The US dollar ended the week on a relatively strong footing considering how many important events happened during the past week’s trading, which could have hurt the currency. US President Donald Trump at last nominated Jerome Powell as the next Federal Reserve Chair, who will succeed Janet Yellen after her term expires in February. The House of Representatives unveiled the long-awaited tax bill on Thursday after a one-day delay. Nonfarm … “US Dollar Remains Stable After Week of Important Events”
US Dollar Rallies Against Peers on Strong Services PMI Data
The US dollar today rallied against its main peers such as the euro and the British pound after the release of positive Services PMI data. The US dollar recovered from a poor showing after the release of non-farm payrolls data in the early North American session. The US dollar’s performance against a basket of its main peers, as tracked by the US Dollar Index, improved later during the session as the DXY hit a high of 95.01. The greenback opened … “US Dollar Rallies Against Peers on Strong Services PMI Data”
USD/CAD Sinks to New Lows on Labor Market Reports
The US dollar today weakened against its Canadian counterpart after the release of upbeat Canadian employment data by Statistics Canada. The release of disappointing US non-farm payrolls report also contributed to the USD/CAD currency pair’s decline. The USD/CAD currency pair today declined by over 120 points from its daily highs after the release of the NFP data. The release of Canada’s labour force survey for October by Statistics Canada early in the American session … “USD/CAD Sinks to New Lows on Labor Market Reports”
Britain’s Services Sector Shows Strong Growth, Pound Halts Slump
The Great Britain pound was stable today following yesterday’s steep sell-off. The currency got some support from the solid performance of Britain’s services sector. The seasonally adjusted IHS Markit/CIPS Services PMI advanced from 53.6 in September to 55.6 in October. That is instead of a drop to 53.3 predicted by analysts. The favorable report helped the sterling to stop the slump that followed the policy announcement made by the Bank of England yesterday. GBP/USD traded … “Britain’s Services Sector Shows Strong Growth, Pound Halts Slump”
Australian Dollar Driven Down by Domestic Data
The Australian dollar dropped today against its major rivals, driven down by poor Australian reports. Sometimes economic data from China, Australia’s biggest trading partner, is able to mitigate impact from domestic data, but that did not happen today, even though China’s services report was decent. Australian retail sales showed no change in September from August, while analysts had predicted … “Australian Dollar Driven Down by Domestic Data”
US Dollar Falls Against Euro Ahead of New Federal Reserve Chair Announcement
The US dollar declined against the euro on Thursday as investors anticipated the announcement of the new Federal Reserve Chair. The greenback failed to climb despite positive data releases today, which showed strong nonfarm productivity and fewer applications for unemployment benefits. US President Donald Trump is expected to announce his nomination for the new Federal Reserve Chair later today. Most traders expect the president to name Jerome Powell, who is a member … “US Dollar Falls Against Euro Ahead of New Federal Reserve Chair Announcement”
Czech Koruna Trades Higher Following Interest Rate Hike
The Czech koruna edged up against the US dollar during the current trading session after the nation’s central bank hiked its interest rates. The Czech National Bank increased its benchmark two-week repo rate by 25 basis points to 0.5%. The Lombard rate was up by 50 basis points to 1%, and the discount rate remained unchanged at 0.05%. The new interest rate level will come into effect tomorrow. USD/CZK … “Czech Koruna Trades Higher Following Interest Rate Hike”