After the troubles of Trump Junior downed the dollar, the next test is Yellen’s testimony. Here is a preview: Here is their view, courtesy of eFXnews: Fed Chair Yellen will be testifying in front of the House Financial Services Committee on Wednesday and Senate Banking Committee on Thursday. Her prepared remarks will be released at … “USD: Fed Yellen’s Testimony On 3 Topics To Look For”
Author: admin_mm
Euro Climbs on Boosted Confidence in Future Outlook for Euro Area
The euro moved higher against the US dollar and the British pound on Tuesday, as tradersâ confidence in the future of the euro zone improved following a speech by Angela Merkel. The greenback, on the other hand, suffered from a political scandal that involved Donald Trump Jr. Speaking at a business conference in Bavaria, Germany, German Chancellor Angela Merkel said that the European Union stands more united than ever, despite the ongoing Brexit talks. Merkel hinted … “Euro Climbs on Boosted Confidence in Future Outlook for Euro Area”
US Dollar Falls on Political Scandal & Doubts About Interest Rate Hike
The US dollar fell against such rivals as the euro and the Japanese yen today due to another political scandal in the United States. Another reason for the drop were comments from a Federal Reserve official that damped interest rate hike expectations. US President Donald Trump appeared in the center of yet another scandal, though this time not by his own fault. Leaked emails showed that his son, Donald Trump … “US Dollar Falls on Political Scandal & Doubts About Interest Rate Hike”
USD/CAD Rallies Higher Despite Positive Canadian Housing Starts Data
The Canadian dollar today weakened against the US dollar despite the release of positive Canadian housing starts data by the Canada Mortgage and Housing Corporation. The loonie tried to rally against the greenback after the release, but the greenback rallied higher after the release of the US JOLTS job openings report. The USD/CAD currency pair gained over 40 points at the height of its rally as the pair recovered from 10-month lows set during Friday’s session. … “USD/CAD Rallies Higher Despite Positive Canadian Housing Starts Data”
Aussie Trims Gains After Rallying on Strong Business Confidence
The Australian dollar rose today on the back of the strong business confidence, though the currency has trimmed its gains by now. The NAB business confidence rose from 8 in May to 9 in June. The report said: Business conditions hit another multiyear high, with most industries performing well. Meanwhile, home loans rose 1.0% from April to May on a seasonally adjusting basis. The reading was better than the drop by 1.9% … “Aussie Trims Gains After Rallying on Strong Business Confidence”
NZ Dollar Down After Underwhelming Electronic Card Spending
The New Zealand dropped after the release of disappointing electronic card spending data. Stats NZ reported that New Zealand’s total electronic card spending rose just 0.1% in June from the previous month. Moreover, spending in the retail industries was flat. The data was especially disappointing as economists had expected a boost to the spending from the British and Irish Lions tour to New Zealand. Electronic card spending is considered to be … “NZ Dollar Down After Underwhelming Electronic Card Spending”
BOC: To hike or not to hike?
On one hand, a rate hike in Canada is priced in. On the other hand, there is no 100% consensus among analysts that the BOC will indeed pull the trigger. Here are two opinions: Here is their view, courtesy of eFXnews: CAD: BoC Hike In The Price; Investors May Sell On Fact – Citi Citi … “BOC: To hike or not to hike?”
British Pound Weakens Against US Dollar After Disappointing Week
The British pound today weakened against the US dollar during the early North American session as the greenback opened strongly against most of its peers. The British pound was on a downward trend during the late Asian session and early European session, before retracing some of its loses during the mid-European session. The British pound lost about 50 points against the US dollar at the height of its decline against the US dollar, but … “British Pound Weakens Against US Dollar After Disappointing Week”
Chinese Yuan Stable as CPI Misses Expectations
The Chinese yuan was stable today after nation’s inflation missed market expectations. The National Bureau of Statistics of China reported that the Consumer Price Index rose 1.5% year-on-year in June, the same as in the previous month and below the average forecast (1.6%). The miss was not big, though, and apparently markets were not bothered by it. The Producer Price Index rose 5.5% year-on-year in June, the same as in May as well and matching expectations exactly. … “Chinese Yuan Stable as CPI Misses Expectations”
Japanese Yen at Fresh Lows as Kuroda Reiterates Commitment to Stimulus
The Japanese yen fell today, touching fresh lows versus the US dollar and the euro, as Bank of Japan Governor Haruhiko Kuroda reiterated the pledge to keep monetary policy extremely accommodative. Kuroda reiterated today commitment to keep policy ultra-loose until inflation reaches the central bank’s target of 2%. Analysts said that the divergence between the BoJ dovish stance and more hawkish stance of other nations’ central banks may attract carry … “Japanese Yen at Fresh Lows as Kuroda Reiterates Commitment to Stimulus”