The Great Britain pound was steady today as the recent bout of poor macroeconomic releases did not deter investors from the currency. The Purchasing Mangers’ Indexes for Great Britain released this week were universally disappointing. Yet it looks like they did not prevent market participants from expecting the Bank of England to perform monetary tightening in the not-so-distant future. While the sterling pulled back from the recent highs, it … “Great Britain Pound Steady, Undeterred by Poor Economic Data”
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Aussie Flat After Release of Australian Trade Balance
The Australian dollar was little changed today after the release of surprisingly strong trade balance data. Australia’s trade surplus climbed to A$2.47 billion in May, far exceeding the median forecast of A$1.00 billion. The April’s reading was revised from A$0.56 billion to A$0.09 billion. The Australian currency did not profit from the data most likely because of the disappointment that the Reserve Bank of Australia did not turn hawkish, unlike … “Aussie Flat After Release of Australian Trade Balance”
British Pound Weakens Against US Dollar on Disappointing PMI Data
The Bristish pound today declined against the US Dollar after the release of weak Markit/CIPS UK services PMI data. The GBP/USD currency pair declined for the third consecutive session losing over a cent from Friday’s tops amid renewed US dollar strength since the start of the week. The cable lost over 50 points at the height of its decline as investors bought the US dollar and sold the British pound. The UK Services PMI report … “British Pound Weakens Against US Dollar on Disappointing PMI Data”
Dollar Steady as Markets Wait for FOMC Minutes
The US dollar was steady against its major rivals today as traders were waiting for the Federal Open Market Committee to release minutes of its latest policy meeting. The FOMC will release minutes of its June meeting as of 18:00 GMT today. Market participants hoped that the notes will give some clues as to whether the Committee is going to hike interest rates again this year. Currently, CME FedWatch shows … “Dollar Steady as Markets Wait for FOMC Minutes”
Eruo Declines Against US Dollar on Comments from ECB’s Coeure
The euro today declined further against the US dollar for the fourth consecutive session after dovish comments from the European Central Bank‘s Coeure. The EUR/USD currency pair was on a downward trend despite the release of positive Markit Eurozone Services PMI data, which did not increase the attractiveness of the single currency. The currency pair lost over 50 points from its daily high at the height of its decline as the US dollar strengthened … “Eruo Declines Against US Dollar on Comments from ECB’s Coeure”
Australian Dollar Gains Even as China’s Services PMI Disappoints
The Australian dollar rallied today despite unfavorable services data for China, Australia’s biggest trading partner. By now, the Aussie has lost its gains versus the US dollar but continued to trade above the opening level versus other most-traded rivals. The seasonally adjusted Caixin China General Services Business Activity Index slumped to 51.6 in June from 52.8 in May. It marked the slowest expansion of the sector in more than a year. … “Australian Dollar Gains Even as China’s Services PMI Disappoints”
Yen Retreats as Risk Aversion Caused by North Korea Subsides
The Japanese yen retreated versus its major peers after yesterday’s rally caused by a North Korean missile test. The United States confirmed that the North Korean missile was indeed intercontinental. Moreover, the it can carry a nuclear warhead. The USA and South Korea conducted an emergency missile drill in a response. Yet the yen did not react to the news, and analysts speculated that markets got used to North Korean missile tests, … “Yen Retreats as Risk Aversion Caused by North Korea Subsides”
5 Most Predictable Currency Pairs – 03 2017
Not all currency pairs are born equal. Some move more than others and some of these movements are more predictable. What makes a pair more predictable for technical traders? Such a pair either makes a breakout with momentum, not looking back, or bounces off a line of resistance or support. A forex pair that respects … “5 Most Predictable Currency Pairs – 03 2017”
CAD: Premature For BoC To Tighten In July; Fade ‘Market
The Canadian dollar enjoyed the hawkish tone coming out of the BOC, as well as the recent rise in oil prices. What’s next? Here is their view, courtesy of eFXnews: Barclays Capital Research argues that it is unlikely for CAD to get further support from monetary policy expectations as the BoC enters the blackout period before … “CAD: Premature For BoC To Tighten In July; Fade ‘Market”
Canadian Dollar Stable After Tuesday’s Rally
The Canadian dollar was stable against its US counterpart and retreated a bit versus other most-traded currencies on Wednesday after rallying on Tuesday. Bank of Canada Governor Stephen Poloz signaled in an interview to the German newspaper Handelsblatt that the BoC is indeed considering raising interest rates. In the response to the question about an interest rate hike, he said: As our senior deputy governor said a week ago, when … “Canadian Dollar Stable After Tuesday’s Rally”