The Swiss franc was stable today against some majors and continued to fall versus the very strong Great Britain pound. North Korea launched yet another missile, but that had little impact on markets, showing that market participants feel no need for safety. With that said, currently the franc is starting to move higher. North Korea launched a missile over northern Japanese island Hokkaido today. … “Swiss Franc Sees No Support from North Korean Missile Launch”
Author: admin_mm
USD/CAD Spikes to New Highs on US CPI Data Then Quickly Erases Gains
The USD/CAD currency pair today spiked briefly to new highs after the release of positive US CPI data, but quickly erased most of its gains to continue trading sideways. The release of Canada’s new housing price index might have contributed to the pullback despite being lower than the previous figure. The USD/CAD currency pair spiked to hit a daily high of 1.2239 before retracing most of its gains to trade below the 1.2200 … “USD/CAD Spikes to New Highs on US CPI Data Then Quickly Erases Gains”
British Pound Jumps as Policymakers Signal Interest Rate Hike
The British pound jumped against its major counterparts on Thursday after UK policymakers hinted that interest rates may be raised relatively soon. The Bank of Englandâs Monetary Policy Committee stated that UK interest rates were maintained at 0.25% after concluding its latest policy meeting. Members of the committee voted 7–2 for the decision, which was widely expected by analysts. The central bankâs quantitative easing program was … “British Pound Jumps as Policymakers Signal Interest Rate Hike”
US Dollar Gains Against Euro on Positive US CPI Data
The US dollar today gained slightly against the euro after the release of better than expected US CPI data in the American session. The empty European docket could not provide enough impetus to the single currency, which offered resistance and recovered after its initial decline. The EUR/USD currency pair was trading in a 40 point range for most of today’s session as euro refused to cede ground to the US dollar, but the CPI data … “US Dollar Gains Against Euro on Positive US CPI Data”
New Zealand Dollar Stable, Ignores China’s Lackluster Data
The New Zealand dollar was stable today even as China’s macroeconomic data was disappointing, dragging Asian stocks down. China is the biggest trading partner of New Zealand, therefore economic performance of the Asian nation often strongly affects the South Pacific currency. The National Bureau of Statistics of China reported that industrial production rose 6.0% in August from a year ago, less than the forecast of 6.6% and the previous month’s growth … “New Zealand Dollar Stable, Ignores China’s Lackluster Data”
Australian Employment Growth Beats Forecast by More Than Twice
The Australian dollar rallied today after extremely positive domestic employment data that showed growth of jobs market that was far bigger than was forecast. The Australian Bureau of Statistics reported that Australian employers added 54,200 jobs in August (adjusted for seasonal variations), more than double expectations of 17,500. What is especially important, the bulk of the increase consisted of full-time jobs. The unemployment rate remained stable at 5.6%. … “Australian Employment Growth Beats Forecast by More Than Twice”
Mixed Employment Data Leaves Sterling Without Direction
The Great Britain pound demonstrated mixed performance today, rising against some majors, while falling versus others. That could be explained by the Wednesday’s release of employment data, which had both good and bad parts. According to the report from the Office for National Statistics, the unemployment rate demonstrated an unexpected drop from 4.4% to 4.3% in the period from May to July, reaching the lowest level since 1975. The number of claims for unemployment … “Mixed Employment Data Leaves Sterling Without Direction”
Euro Weakens Against US Dollar After Release of US Data and Tax Plan
The euro today was largely weaker against the US dollar and the release of positive US MBA Mortgage applications data mid-European session drove the pair lower. Releases from the European docket including the Eurozone industrial production data and employment data could not boost the single currency. The EUR/USD currency pair lost over 100 points at the height of its decline as the US dollar rallied against the euro. Several releases from the European … “Euro Weakens Against US Dollar After Release of US Data and Tax Plan”
Canadian Dollar Drops Despite Favorable Trading Environment
The Canadian dollar fell versus its US counterpart today as a range of factors were supporting the greenback. The losses against other majors were harder to explain considering that the trading environment looked favorable to the loonie. One of the reasons for the US dollar’s strength was the fact that tensions between the United States and North Korea did not escalate further. Yet the same factor should have been supportive to the Canadian dollar as well … “Canadian Dollar Drops Despite Favorable Trading Environment”
AUD/USD: Spec Bet & Technical Setup Increasingly Bullish; Levels
The Australian dollar enjoyed the weakness of the US dollar to advance. Mostly positive Australian data helps as well. What’s next? Here is the view from BTMU: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the latest IMM positioning report revealed that the AUD has been the main beneficiary amongst … “AUD/USD: Spec Bet & Technical Setup Increasingly Bullish; Levels”