The GBP/USD currency pair today posted massive losses on renewed Brexit worries after comments from the EU’s chief negotiator, Michel Barnier. The possibility of a hard Brexit was further confirmed by comments from the UK’s Brexit minister, David Davis. The GBP/USD currency pair lost over 140 points at the height of its decline in the hours following the joint press conference. The pound’s massive decline against the US dollar was occasioned by comments … “GBP/USD Posts Massive Losses on Brexit Headlines”
Author: admin_mm
EUR/USD looks ready to rise – three opinions
The euro enjoyed a sigh of relief as Catalonia refrained from a clear declaration of independence and the consequent response from Madrid. Is EUR/USD ready to rally? Here is their view, courtesy of eFXnews: EUR/USD: Is EUR out of the Catalan woods? What’s The Trade? – Credit Agricole Credit Agricole CIB FX Strategy Research discusses … “EUR/USD looks ready to rise – three opinions”
Japanese Yen Gets Boost from Economic Data
The Japanese yen gained against its major rivals today, boosted by mostly favorable domestic reports and geopolitical tensions around the world. Bank lending increased by 3.0% in September from a year ago, exceeding analysts’ expectations. The Producer Price Index rose by 3.0% in September from the previous year and 0.2% from the previous month. Seasonally adjusted indices of tertiary industry activity provided the only negative reading today, showing a drop by 0.2% … “Japanese Yen Gets Boost from Economic Data”
Australian Dollar Extends Rally Caused by FOMC Minutes
The Australian dollar started a rally yesterday after the release of the Federal Reserve policy minutes and extended it into the Thursday’s trading session, though the currency has backed off a bit as of as now. Positive Australian macroeconomic reports helped the Aussie as well. The Melbourne Institute Survey of Consumer Inflationary Expectations rose from 3.8% in September to 4.3% in October. The number of home loans increased by 1.0% in August from July, two time the forecast increase … “Australian Dollar Extends Rally Caused by FOMC Minutes”
USD/CAD Dips After FOMC Minutes Show Dovish Stance
The Canadian dollar rose against its US counterpart today as the greenback was driven down by unexpectedly dovish minutes of the Federal Open Market Committee. The loonie also gained versus most other major rivals and trimmed losses versus the euro thanks to the rally of crude oil that followed the release of the FOMC minutes. While the Committee said it does not expect the hurricanes to have a long-term impact on the US economy, some of its … “USD/CAD Dips After FOMC Minutes Show Dovish Stance”
Pound Stable amid Argument About Chances of BoE Rate Hike
The Great Britain pound was mostly stable today as market analysts argued whether the outlook for monetary tightening from the Bank of England is warranted considering the Brexit uncertainties. Some analysts were encouraged by recent macroeconomic data. They claimed that the BoE will hike interest rates, perhaps as soon as the next month. Others were not so certain and thought that any gains of the pound should be considered as a good … “Pound Stable amid Argument About Chances of BoE Rate Hike”
US Dollar Retreats as Job Openings Decrease in August
The US dollar retreated against the euro on Wednesday after a fresh report revealed a weaker job market than what analysts had expected. The release also weighed on an index that tracks the greenbackâs strength, pushing it to the lowest level in about two weeks. The Bureau of Labor Statistics said in a report on labor turnover for August that the month saw 6.082 million job openings, which missed estimates of 6.125 million openings. The number … “US Dollar Retreats as Job Openings Decrease in August”
GBP: The Case For A BoE November Hike Strengthening
The pound shot higher on expectations for a rate hike in November, and it is getting closer. Yet after hitting 1.36, GBP/USD slipped quite a bit. What is the trade? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the GBP has started the week on firmer footing reflecting both a reduction … “GBP: The Case For A BoE November Hike Strengthening”
Australian Dollar Reverses Gains Caused by Improving Consumer Sentiment
The Australian dollar jumped today after the release of positive macroeconomic data in Australia but reversed its gains shortly afterwards and is now trading near the opening level. The Westpac Melbourne Institute Index of Consumer Sentiment rose 3.6% in October from September. The report said: This is the first time since November last year that optimists have outnumbered pessimists and represents the highest level of the Index since October … “Australian Dollar Reverses Gains Caused by Improving Consumer Sentiment”
Euro Stable as Catalonia’s Struggle for Independence Continues
The euro was stable today as the story of Catalonia’s fight for independence continued to unfold. Catalan President Carles Puigdemont stopped short of announcing formal independence, saying he wants to leave doors open to negotiations with the Spanish government. Instead of talks, Spanish Prime Minister Mariano Rajoy threatened to initiate the Article 155 of the constitution, which would suspend Catalan autonomy and allow Madrid to take direct control over the region. For now, markets … “Euro Stable as Catalonia’s Struggle for Independence Continues”