The Great Britain pound was stable today amid Brexit uncertainties and anticipation of important economic releases this week. (Update: currently the sterling seems to start a gradual move down.) Britain’s Prime Minister Theresa May is heading to Brussels today to dine with the European Union leaders and try to salvage Brexit negotiations that seems to be falling apart. There was a report that a chance for a positive outcome appeared, yet … “Pound Stable as Markets Wait for Economic Data”
Author: admin_mm
The checkered history of the failing Fed
Recently central banks have come under a significant amount of pressure. Massive systemic failures like the global financial crisis and Eurozone debt troubles have created calls for an overhaul of the centralized system. Technology, in the form of cryptocurrencies, has sought to decentralize control, effectively creating an existential crisis amongst central banks. Further claims of … “The checkered history of the failing Fed”
US Dollar Ends Week as Weakest Currency After FOMC & CPI
The US dollar ended the week as the weakest currency among the major ones. The euro was mixed, while the Great Britain pound was the strongest. The Federal Market Open Committee surprised markets by its rather dovish policy minutes, sending the dollar down. The situation did not improve for the currency after the Consumer Price Index rose less than analysts had expected. Surprisingly enough, politics had little impact on the currency despite … “US Dollar Ends Week as Weakest Currency After FOMC & CPI”
NZ Dollar Gains as Manufacturing Sector Continues to Grow
The New Zealand dollar rose today despite the report that showed slower growth of New Zealand’s manufacturing sector. The seasonally adjusted BusinessNZ Performance of Manufacturing Index slipped from 57.9 to 57.5 in September. Yet the report did not consider the small drop as a problem, noting that manufacturing “continued to display very healthy levels of expansion” and “the sector has remained in expansion in all months since October 2012.” That and also the relatively … “NZ Dollar Gains as Manufacturing Sector Continues to Grow”
Australian Dollar Gains as China’s Trade Balance Surplus Shrinks
The Australian dollar rose today even though the trade balance report in China, Australia’s trading partner, did not look good at first glance. But in fact, the data painted a picture of a strong economy of the Asian nation, which is a good sign for the Australian economy. China’s trade balance surplus fell sharply to $28.47 billion in September from $40.94 billion a year ago. The reading was below the consensus forecast of $39.5 billion … “Australian Dollar Gains as China’s Trade Balance Surplus Shrinks”
Pound Jumps on Rumors About Brexit Deal
The Great Britain pound jumped, erasing previous losses, today after the unconfirmed report that Britain may be offered by the European Union a two-year transition deal that will make it easier for the country to depart from the EU. The final date for Britain’s exit from the Union is March 2019. Yet according to German newspaper Handelsblatt, EUâs chief Brexit negotiator Michel Barnier said that he is ready … “Pound Jumps on Rumors About Brexit Deal”
A very soft Brexit in perpetuity? It could be great
According to report, yet to be confirmed by other sources, the EU will offer the UK to stay in the EU for another two years after the expiry of Article 50 in March 2019. From then, the UK will continue its regular activity in the EU and this will last for two years, until 2021. … “A very soft Brexit in perpetuity? It could be great”
Euro Weak amid ECB Uncertainty
The euro fell against its most-traded rivals today, reversing gains versus the Great Britain pound that were registered earlier during the current trading session. The exception was the Swiss franc, against which against the euro rallied for the fifth straight day, though the gains were small and may yet turn to losses by the end of Thursday’s trading (update: EUR/CHF trades at the opening level currently). Markets are counting on an announcement of a stimulus … “Euro Weak amid ECB Uncertainty”
Canadian Dollar Declines Against US Dollar on Positive US Data
The Canadian dollar today declined against the US dollar following the release of upbeat US data and a rebound in the US dollar. The release of the Canadian housing price index in the early North American session also contributed to the loonie’s overall weakness. The USD/CAD currency pair started today’s session on a dip then rallied higher from its daily lows to hit a high of 1.2490, but had retraced some of its gains at the time of writing. The weaker … “Canadian Dollar Declines Against US Dollar on Positive US Data”
US Dollar Rises as Fresh Data Boosts Inflation Outlook
The US dollar climbed against other major currencies on Thursday as investors became more confident that the US inflation is picking up. The improved inflation outlook supported the Federal Reserveâs case for an interest rate increase before the end of the year. A fresh reading for a major inflation indicator that was released by the US Bureau of Labor Statistics earlier today has revealed a stronger rate than analysts expected. The producer price index … “US Dollar Rises as Fresh Data Boosts Inflation Outlook”