The past trading week was marked by several important events, and they were positive for the US dollar for the most part. As a result, the greenback rallied against the euro and the Great Britain pound, but was soft versus commodity currencies. The long-awaited testimony of former FBI director James Comey turned out to be a non-event, largely disregarded by markets as it did not provide any shocking revelations. The policy meeting of the European Central Bank … “Dollar Ends Week Stronger vs. Euro & Pound, Weaker vs. Commodity Currencies”
Author: admin_mm
British Pound Holds Losses as Mixed Data Adds to Disappointing Election Results
The British pound remained weak on Friday as the currency held to most of the losses it had yesterday. Todayâs data, which was largely mixed, made the British pound incapable of finding support in economic releases at a time when politicians in the United Kingdom failed to reach unity. A snap general election was held in the United Kingdom on Thursday following a call by Prime Minister Theresa May last April, which was supported by 522 to 13 … “British Pound Holds Losses as Mixed Data Adds to Disappointing Election Results”
Canadian Dollar Rallies Against US Dollar on Positive Jobs Report
The Canadian dollar today gained significantly against the US dollar after the release of Canada’s labor market report by Statistics Canada, which exceeded expectations. The loonie rallied against the greenback despite the fact that the greenback was performing quite well as tracked by the US Dollar Index. The USD/CAD currency pair plunged to new session lows losing over 90 points in a span of two hours after the release of the jobs report. The Canadian dollar … “Canadian Dollar Rallies Against US Dollar on Positive Jobs Report”
GBP post elections – to 1.25 or a recovery? It
Cloudy weather is a feature of the UK, and for politics, it got quite murky. No party won an outright majority and the Conservatives are forming a government with the Irish DUP. What’s next for the pound? Here are three opinions: Here is their view, courtesy of eFXnews: GBP: UK Elections: Valuation Test To Take … “GBP post elections – to 1.25 or a recovery? It”
Euro Loses Ground Against the US Dollar on Dovish ECB and UK Election Results
The euro today lost significant ground against the US dollar to test new lows for the third day in a row after yesterday’s dovish outlook from the European Central Bank. The currency pair’s decline was also caused by the stronger US dollar after yesterday’s UK general election, which resulted in a hung parliament, as no party won a majority. The currency pair lost about 40 points from its peak during today’s … “Euro Loses Ground Against the US Dollar on Dovish ECB and UK Election Results”
Great Britain Pound Posts Heavy Losses as Hung Parliament Becomes Reality
The Great Britain pound experienced heavy losses during the Asian trading session on Friday after Britain’s snap election resulted in the worst possible outcome — a hung parliament. UK Prime Minister Theresa May announced a snap election in a bid to consolidate the power and strengthen her positions in Brexit negotiations with the European Union. That looked a reasonable move at first as initially polls were showing a tremendous support for May’s Conservative party. Yet … “Great Britain Pound Posts Heavy Losses as Hung Parliament Becomes Reality”
GBP/USD shocked lower but respecting ranges – levels
UK exit polls showed a hung parliament with only 314 seats for the Conservatives and high uncertainty all in allץ We don´t know if the Tories will eventually reach a small majority, if their position will further deteriorate and May resigns, or if uncertainty prevails. The response in the pound was loud and clear: a crash of … “GBP/USD shocked lower but respecting ranges – levels”
GBP/USD could jump if LibDems are kingmakers
The incumbent Conservative Party and the challenging Labour will take the vast majority of seats in parliament. However, both parties are set to fall short of an absolute majority. The Tories are closer, with 314 according to the predicted outcome. If confirmed, they could form a coalition with the LibDems 14 projected members in parliament and reach … “GBP/USD could jump if LibDems are kingmakers”
EUR/USD: A Tactical Short; ECB Not A Catalyst For
The ECB is more optimistic on growth but the downgrade of inflation projections hurt the euro. What’s next? Here is their view, courtesy of eFXnews: Danske Bank FX Strategy Research argues that today’s message from the ECB is not going to be a key catalyst for further EUR/USD upside for three reasons. “First, ECB rate hikes will … “EUR/USD: A Tactical Short; ECB Not A Catalyst For”
Swiss Franc Falls vs. Dollar & Yen, Gains on Euro & Pound
The Swiss franc fell against the US dollar and the Japanese yen but gained versus the Great Britain pound and the euro by the end of the Thursday’s session. Economic reports released during the trading session in Switzerland were favorable to the currency. The State Secretariat for Economic Affairs reported that the unemployment rate stayed at 3.2% in May, while experts were counting on an increase to 3.3%. The Federal Statistical Office reported that the Consumer Price Index rose by 0.2% … “Swiss Franc Falls vs. Dollar & Yen, Gains on Euro & Pound”