EUR/USD started the new week in the same place it ended the previous one, around 1.14 and not going anywhere fast. What’s next? Here are a few opinions: Here is their view, courtesy of eFXnews: EUR/USD: Monitoring ECB Reaction On A Move Above 1.15; Looking For A S/T Correction – Nordea Nordea FX Strategy Research … “EUR/USD hugging 1.14 – break up or break down?”
Author: admin_mm
Canadian Dollar Ends Week Strongest amid BoC Hike Speculations
The Canadian dollar ended the week as the strongest major currency because the events during the week’s trading fueled speculations that the Bank of Canada will hike interest rates as soon as the next week. Markets considered the comments of BoC Governor Stephen Poloz as a sign that the central bank is ready to raise interest rates. Solid employment data supported the case for monetary tightening. All those factors reinforced the view that the BoC will … “Canadian Dollar Ends Week Strongest amid BoC Hike Speculations”
US Dollar Rallies Higher Against Peers on Positive Non-Farm Payrolls
The US dollar today rallied higher against its main peers such as the euro, the British pound and the Japanese yen as the non-farm payrolls report beat expectations. The US dollar rallied higher against its peers today building on the momentum established yesterday after the release of positive ADP national employment report. The US Dollar Index, which tracks the greenback’s performance against a basket of its main peers, was trading above its … “US Dollar Rallies Higher Against Peers on Positive Non-Farm Payrolls”
Employment Data Fuels Rally of Canadian Dollar
The Canadian dollar jumped today, rising more than 1% against some of its most-traded rivals, after the release of a better-than-expected employment report. Canadian employers added 45,300 jobs in June. That was much more than analysts had predicted (11,400) and close to the previous month’s strong gain of 54,500. The unemployment rate unexpectedly fell from 6.6% to 6.5%. The Ivey Purchasing Managers Index did not disappoint as well, climbing … “Employment Data Fuels Rally of Canadian Dollar”
Pound Slides as Trend of Disappointing UK Economic Releases Continues
The Great Britain pound dropped today as macroeconomic indicators released in the United Kingdom continued to disappoint. Industrial production contracted 0.1% and manufacturing production declined 0.2% in May instead of rising as analysts had predicted. Construction output dropped 1.2%, and forecasters were wrong again with their predictions of growth. The trade balance deficit widened by £1.0 billion to £3.1 billion in May while experts had predicted it to stay almost unchanged. … “Pound Slides as Trend of Disappointing UK Economic Releases Continues”
Japanese Yen Drops as BoJ Performs Bond Buying to Control Yield
The Japanese yen was in the red across the board as the surging yields on global bonds prompted the Bank of Japan to step in to keep the yield curve in check. The sell-off of global bonds caused the surge of yields. It was likely a result of the more hawkish stance of major central banks. In accordance to its yield control policy, the BoJ offered to buy an unlimited amount of 10-year Japanese government bonds. The aggressive bond buying resulted in losses for the yen. USD/JPY … “Japanese Yen Drops as BoJ Performs Bond Buying to Control Yield”
EUR/USD is back to the highs – make or break?
EUR/USD is trading on the higher ground once again, topping 1.14 and with one eye on 1.15. Can it make the move? Here are three opinions: Here is their view, courtesy of eFXnews: EUR/USD: Bullish But Mind ECB Reaction On A Move ‘Well Beyond’ 1.15 – Credit Suisse Credit Suisse FX Strategy Research has been … “EUR/USD is back to the highs – make or break?”
Positive Fundamentals Fail to Provide Support to Canadian Dollar
The Canadian dollar was flat versus the US dollar and the Japanese yen and fell against the euro and the Swiss franc even though fundamentals should have supported the currency. Prices for crude oil, Canada’s biggest export, jumped more than 2% in New York today. Crude gained as data showed bigger-than-expected draw from US inventories. Canada’s trade deficit rose from C$0.6 billion in April to C$1.1 billion in May. Experts … “Positive Fundamentals Fail to Provide Support to Canadian Dollar”
US Dollar Plummets Against Major Peers as Employment Data Misses Estimates
The US dollar plummeted against the euro and the British pound on Thursday, following a number of disappointing economic data that further confirmed a slowdown in the US economic growth. The greenback declined despite marginally stronger business activity in the United States, which failed to cancel the negative effect of todayâs economic releases. The ADP Research Institute published a fresh report on nonfarm employment at 12:15 GMT today, which showed that the private sector hired 158,000 … “US Dollar Plummets Against Major Peers as Employment Data Misses Estimates”
Euro Rallies Higher Against US Dollar on Hawkish ECB Minutes
The euro today rallied higher against the US dollar after hawkish comments from the European Central Bank minutes released today. Weak initial jobless claims data from the US docket also contributed to the EUR/USD’s rally as it did not meet market expectations. The currency pair gained over 70 points at the height of its rally reversing most of the losses it had sustained over the past three days. The ECB … “Euro Rallies Higher Against US Dollar on Hawkish ECB Minutes”