The Mexican peso climbed today, rising against the US dollar to the highest level since November 9, the day when Donald Trump won the US presidential elections, leading to massive losses for Mexico’s currency. Mexico’s leftist National Regeneration Movement (MORENA) lost the election in the key State of Mexico to the ruling Institutional Revolutionary Party. Markets distrust MORENA’s leader Andres Manuel Lopez Obrador, viewing him as one who opposes economic … “Mexican Peso Climbs as Political Concerns Wane”
Author: admin_mm
Will The ECB Trigger EUR Strength This Week? – BTMU
EUR/USD is backing off the highs of 1.1285 seen earlier and is back to the middle of the 1.12 handle. The big event coming up for the euro is the ECB’s decision. Where will the euro go afterward? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the main event this week ahead for … “Will The ECB Trigger EUR Strength This Week? – BTMU”
Sterling Defies Fundamentals, Rising During Monday’s Session
Fundamentals were largely unfavorable to the Great Britain pound: uncertainty about the outcome of the upcoming general election, the slowdown of the services sector’s growth, and the terrorist attack on London. Yet all that did not prevent the currency from rising on Monday. The seasonally adjusted IHS Markit/CIPS Services PMI Business Activity Index dropped to 53.8 in May from 55.8 in April, far below the 55.1 reading predicted by analysts, demonstrating the slowest growth of the sector … “Sterling Defies Fundamentals, Rising During Monday’s Session”
Australian Dollar Gets Help from China’s Services Sector
The Australian dollar jumped today against its peers, getting help from the good service sector data released in China during the current trading session. The seasonally adjusted Caixin China General Services Business Activity Index registered 52.8 in May, up from 51.5 in April. The sector demonstrated the fastest pace of growth since January. It allowed the Aussie to rise, ignoring Australia’s unimpressive macroeconomic reports and the drop of crude oil … “Australian Dollar Gets Help from China’s Services Sector”
Part 1 -On the Bitcoin Block: 7 Myths about trading cryptocurrencies
We’ve all heard a lot about cryptocurrencies in the news and throughout social media. With its basis as a currency created in cyber reality, it sounds like the stuff that conspiracy theorists thrive off. Yet, while the myths abound on cryptocurrencies, we’re here to bust them all one by one. Conspiracy theorists, eat your heart … “Part 1 -On the Bitcoin Block: 7 Myths about trading cryptocurrencies”
Part 1 -On the Bitcoin Block: 7 Myths about trading cryptocurrencies
We’ve all heard a lot about cryptocurrencies in the news and throughout social media. With its basis as a currency created in cyber reality, it sounds like the stuff that conspiracy theorists thrive off. Yet, while the myths abound on cryptocurrencies, we’re here to bust them all one by one. Conspiracy theorists, eat your heart … “Part 1 -On the Bitcoin Block: 7 Myths about trading cryptocurrencies”
Dollar Ends Week Among Weakest Currencies, Hurt by NFP
The US dollar ended the week among the weakest currencies, though not the weakest. The currency was dragged down by economic data, nonfarm payrolls in particular, which led to concerns about the outlook for Federal Reserve’s monetary policy. Macroeconomic reports released in the United States this week were not impressive for the most part. While the greenback continued to receive some support from expectations of an interest rate hike in June, there are strong … “Dollar Ends Week Among Weakest Currencies, Hurt by NFP”
GBP/USD Rebounds After NFP, Pound Stays Weak Otherwise
The Great Britain pound rebounded versus the US dollar following the release of underwhelming nonfarm payrolls. The sterling had no such luck against other peers, and in fact it dropped even further amid political uncertainty. As to be expected, the pound was able to recover versus the dollar after unexpectedly poor employment data hurt the greenback. Unfortunately for the sterling, the same event made other major currencies more attractive, driving them … “GBP/USD Rebounds After NFP, Pound Stays Weak Otherwise”
Canadian Dollar Rallies Against US Dollar on Poor NFP Data
The Canadian dollar today rallied against its US counterpart triggered by the disappointing US non-farm payroll data released by the Bureau of Labor Statistics. The positive Canadian labor productivity data and the trade deficit figures released by Statistics Canada boosted the Loonie against the greenback. The currency pair lose over 60 points at the height of its decline although it retraced some of its loses severally before continuing on a downward trend. The Canadian dollar … “Canadian Dollar Rallies Against US Dollar on Poor NFP Data”
EUR/USD Rallies to New Highs on Disappointing NFP Report
The EUR/USD currency pair today rallied to new highs during the American session after the release of disappointing non-farm payroll data by the Bureau of Labor Statistics. The pair’s rally was also influenced by other labor market reports such as the change in manufacturing payrolls, and the weak average hourly earnings. The currency pair gained over 70 points in a span of an hour after the release of the non-farm payroll report. The euro gained against the US dollar given … “EUR/USD Rallies to New Highs on Disappointing NFP Report”