The Hungarian forint fell against the US dollar today even as nation’s stocks followed other Eastern European stocks in a rally. The Hungarian blue chip stock index rallied to the new historic record. Yet the forint did not profit from that, perhaps because the Hungarian National Bank remains extremely dovish and may ease its monetary policy further. The strength of the US dollar was also hurting risky currencies. USD/HUF … “Hungarian Forint Fails to Profit from Rally of Stocks”
Author: admin_mm
Aussie Shows No Reaction to Good News from China
Macroeconomic indicators released in China today were very good, painting a positive picture of the nation’s economy. Considering that China is the biggest trading partner of Australia, it was reasonable to expect the Australian dollar to rally on the news. But that did not happen. The National Bureau of Statistics of China released a very positive report about the Chinese economy. It showed that gross domestic product expanded 6.9% in the second quarter … “Aussie Shows No Reaction to Good News from China”
The AUD/USD at 0.78? Well that escalated quickly.
The Australian dollar shot up to 0.7834 AUDUSD following poor and disappointing US economic and inflation data released on Friday. This inflation data is likely to complicate the Fed’s path of monetary tightening and retail data suggests that Americans are pulling back their spending. The discouraging data indicated that last month was only the fifth … “The AUD/USD at 0.78? Well that escalated quickly.”
Has the Canadian dollar gone too far? Two opinions
The Canadian dollar enjoyed the hawkish hike as well as strong data in Canada in weak figures in the US. Has it gone too far? Is the C$ too expensive? Here is their view, courtesy of eFXnews: CAD Has Gone Too Far; What’s The Trade? – Nordea Nordea FX Strategy Research advises against ‘extrapolating’ BoC … “Has the Canadian dollar gone too far? Two opinions”
EUR/USD: Dips To Prove Shallow; Where To Target? –
EUR/USD took advantage of the greenback’s weakness to make gains and reach out for the highs. What’s next? Here is their view, courtesy of eFXnews: In reaction to ECB’s recent flirt with stimulus exit talk, Danske Bank FX Strategy argued that as the ECB has let the genie out of the bottle for EUR/USD, it’s … “EUR/USD: Dips To Prove Shallow; Where To Target? –”
US Dollar Ends Week Extremely Soft After Yellen Comments
The US dollar ended the week as the weakest major currency after Federal Reserve Chairwoman Janet Yellen made dovish comments, making speculators pare bets on an additional interest rate hike this year. Yellen said in her testimony that the pace of monetary tightening will be gradual. Moreover, she mentioned that interest rates are not far from the neutral level. Market participants considered the comments to be very … “US Dollar Ends Week Extremely Soft After Yellen Comments”
GBP/USD Touches Highest Since September
The Great Britain pound rallied to the highest level since September against the US dollar during the Friday’s trading session. The currency also logged solid gains against other most-traded rivals. While the sterling’s rally versus the dollar could be explained by the poor US economic reports, the gains against other currencies mean that the pound had its own supportive fundamentals. Analysts believe that the major positive factor for Britain’s … “GBP/USD Touches Highest Since September”
US Dollar Tumbles as CPI and Retail Sales Data Disappoint
The US dollar today weakened against its main peers as key macro data released from the US docket disappointed. The US retail sales data, the CPI and the University of Michigan consumer sentiment index all missed their respective market consensus figures, which put the greenback under renewed selling pressure. The US Dollar Index, which tracks the greenback’s performance was trading below its opening price of 95.80 and was … “US Dollar Tumbles as CPI and Retail Sales Data Disappoint”
EUR/USD Stays Put Despite ECB QE Tapering Rumors
The EUR/USD currency pair today remained unchanged despite market rumors that the European Central Bank President, Mario Draghi, would include QE tapering in his Jackson Hole meeting next month. Janet Yellen‘s dovish comments during her two-day Humphrey-Hawkins testimony before Congress had a negative impact on the US dollar, which has been largely weaker against the euro in today’s session. The EUR/USD pair has been … “EUR/USD Stays Put Despite ECB QE Tapering Rumors”
Japanese Yen Mixed vs. Majors, Soft vs. High-Yielding Currencies
The Japanese yen was mixed against major rivals today, trading flat against the US dollar and the euro, falling versus the Great Britain pound, and rising against the Swiss franc. The yen was soft against higher-yielding currencies of emerging markets. Dovish comments from Federal Reserve Chairperson Janet Yellen led to speculations that the Fed will be slow with its monetary tightening. That encouraged investors to seek higher-yield, … “Japanese Yen Mixed vs. Majors, Soft vs. High-Yielding Currencies”