The US dollar was stable today against its most-traded rivals but gained on the European currencies, including the euro and the Great Britain pound. The greenback got support from rumors that the next leader of the Federal Reserve may be a hawk. The term of the incumbent Fed Chairperson Janet Yellen will come to an end in February. Now, US President Donald Trump talks with the candidates for the post to determine the most appropriate one. According … “USD Stable, Gains vs. European Currencies amid Next Fed Chief Speculations”
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Canadian Dollar Falls as Uncertainty About Trade Relations Grows
The Canadian dollar fell against its US counterpart on Tuesday as investors grew more uncertain about the future of the North American Free Trade Agreement. Lower expectations of an interest rate hike in Canada and positive economic data in the United States widened the gap between the loonie and the greenback today. Officials from the Canadian government have been renegotiating the terms of the NAFTA agreement with their US peers. The US demands are leaving only … “Canadian Dollar Falls as Uncertainty About Trade Relations Grows”
Euro Declines Against US Dollar on Positive US Import Data
The euro today declined against the extremely strong US dollar after the release of positive US data relating to import prices. This was the fourth consecutive bearish session, which was accelerated by disappointing German ZEW survey data, released early in the European session. The EUR/USD currency pair today lost over 50 points from its opening quote and it was on a downward trend for most of today’s session. The euro was … “Euro Declines Against US Dollar on Positive US Import Data”
British Pound Weakens Against US Dollar Despite Hawkish BoE
The British pound today weakened against the US dollar despite the hawkish comments made by the Bank of England Governor in his testimony before lawmakers. The pound declined against the US dollar despite the release of positive UK CPI data for September early in the European session. The GBP/USD currency pair declined by over 110 points from its daily high of 1.3286 hit earlier in today’s session. The weakness in the British pound was largely attributed … “British Pound Weakens Against US Dollar Despite Hawkish BoE”
NZ Dollar Edges Up After Inflation Accelerates Beyond Expectations
The New Zealand dollar traded a little bit higher against some of its rivals, like the US dollar, while against others, like the euro, it demonstrated more significant gains. One of the possible reasons for the rally was higher-than-expected inflation. The Consumer Price Index rose 0.5% (0.3% with adjustments for seasonal variations) in the September quarter from the previous three months. That was faster growth than 0.4% predicted by specialists, … “NZ Dollar Edges Up After Inflation Accelerates Beyond Expectations”
Aussie Mixed After RBA Minutes Show No Plans for Rate Hike
The Australian dollar was little changed against some of its most-traded rivals, like the US dollar and the Japanese yen, while gained against others, like the euro and the Swiss franc, during the current trading session. The Reserve Bank of Australia released minutes of its October meeting today. The notes revealed nothing new, showing a relatively optimistic picture of the Australian economy but noting elevated levels of household debt and signaling no plans … “Aussie Mixed After RBA Minutes Show No Plans for Rate Hike”
EUR/USD and DAX at crossroads
EURUSD Intraday Analysis Between Support and Resistance EURUSD seems to be locked between support and resistance. Price is currently playing with the imminent support level at 1.1780. There are two possible scenarios here. Scenario 1 Price rejects this level and forms a pinbar or another bullish candle and drives more buyers to push the price … “EUR/USD and DAX at crossroads”
GBP/USD is becoming complicated, like Brexit negotiations
The pound is becoming quite tricky to trade, says NAB, as Brexit negotiations look complicated as well, as analyzed by BofAML. What’s next? Here is their view, courtesy of eFXnews: GBP/USD: ‘Extremely Unlikely’ To Achieve Progress Before Article 50 Deadline – BofAML Bank of America Merrill Lynch FX Strategy Research notes that Brexit headlines continue … “GBP/USD is becoming complicated, like Brexit negotiations”
Canadian Dollar Moves Lower Even as Crude Oil Rallies
The Canadian dollar fell a bit today even as prices for crude oil, Canada’s major export, rallied during the Monday’s session. Market analysts argued that the reason for that is diminishing prospect for an interest rate hike from the Bank of Canada. At the start of October, speculators priced in about 75% chance of a hike before the year end. But now, the probability is less than 50%. Economists claimed that the recent economic data … “Canadian Dollar Moves Lower Even as Crude Oil Rallies”
Euro Flat in Anticipation of Economic Data & ECB
The euro was mostly flat today as markets turned their attention away from politics towards the next week’s European Central Bank policy meeting and economic data that may influence the ECB decision. In what looked like a clever ploy, Spanish Prime Minister Mariano Rajoy demanded from the Catalan leader Carles Puigdemont to make a clear statement whether Catalonia has announced independence. A clear yes would allow … “Euro Flat in Anticipation of Economic Data & ECB”