Fundamentals were largely adverse to the Australian dollar, but that did not prevent the Aussie from rallying today. Analysts explained such behavior by the rise of crude oil prices that bolstered currencies linked to commodities, the Aussie being one of such currencies. The start of the trading week did not look good for the Australian currency, not the least due to the risk aversion caused by yet another nuclear missile test by North Korea. … “Rally of Crude Oil Helps Aussie Mitigate Negative Fundemantals”
Author: admin_mm
Trader’s perspective on trading in the aftermath of Brexit
Ten months have passed since the UK took the against-all-odds decision of removing itself from the EU. Ten months since the most politically and economically impacting event of 2016. In the weeks preceding the Brexit vote, brokerages and traders took measures to limit their exposure; some savvy investors took the opportunity to trade against the … “Trader’s perspective on trading in the aftermath of Brexit”
EUR/USD: the way is up, but not that fast
EUR/USD remains in the uptrend channel, taking two steps forward and one backward. What’s next? Here are two opinions: Here is their view, courtesy of eFXnews: EUR: Investors To Play EUR Cautiously Till May-31; Dips In EUR/USD A Buy – Nordea Nordea FX Strategy Research notes an interesting pattern in Euro Area inflation data that could … “EUR/USD: the way is up, but not that fast”
Super Thursday Makes Sterling End Week Extremely Soft
This week’s Super Thursday turned out to be very negative for the Great Britain pound. As a result, the currency ended the week lower versus most of its major rivals, though not all of them. It was expected that the so-called Super Thursday, the day with plenty of events on the economic calendar of Great Britain, should be very important to the pound. And indeed, it was, though not in a good way. Firstly, all … “Super Thursday Makes Sterling End Week Extremely Soft”
US Dollar Retreats as Weak CPI Data Overshadows Gains in Consumer Sentiment
The US dollar plummeted on Friday against the euro, the Japanese yen, and other major currencies following the release of disappointing CPI and retail sales data. The greenback failed to harness enough support from a small gain in consumer sentiment in May, which left it exposed to a steeper loss against the shared currency. The US Bureau of Labor Statistics said in a report released at 12:30 GMT today that the consumer price index rose 0.2% in April … “US Dollar Retreats as Weak CPI Data Overshadows Gains in Consumer Sentiment”
EUR/USD Rallies Higher Boosted by Strong German GDP Data and Weak US Data
The EUR/USD currency pair today rallied higher after the release of strong German GDP data followed by weak US data, which inspired the pair to rise to a three-day high. The currency pair overturned negative market sentiment around the single currency and rallied higher after the US CPI data and retail sales data failed to meet expectations. The currency pair gained over 50 points at the height of its rally even as the US dollar, as tracked … “EUR/USD Rallies Higher Boosted by Strong German GDP Data and Weak US Data”
EUR/USD: ‘Confident’ EUR Has Bottomed Out; En-Route To 1.14
Euro/dollar stabilized after losing ground on the “sell the fact” effect. What’s next? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research has raised its EUR forecast as it predicts that markets are no longer concerned about European political risk following Emmanuel Macron’s win in the French Presidential election. “Light is beginning to emerge at … “EUR/USD: ‘Confident’ EUR Has Bottomed Out; En-Route To 1.14”
Euro Weakens Against US Dollar on Upbeat US Data
The EUR/USD currency pair today hit new session lows as the single currency weakened against the greenback on positive US data. The euro weakened against the US dollar upon the release of positive producer price index data by the Bureau of Labor Statistics, and the release of positive initial jobless claims data, and initial jobless claims data released by the Department of Labor. The currency pair lost over 50 points from its daily high and is on track to close … “Euro Weakens Against US Dollar on Upbeat US Data”
US Dollar Touches Highest Level in 3 Weeks Against Euro Before Giving up Gains
The US dollar advanced to the strongest level in 3 weeks against the euro on Thursday as traders felt more confident about the outlook of the US economic growth. Data released earlier today painted a positive image of the economy, which improved expectations of an interest rate hike from the Federal Reserve in June. The US Bureau of Labor Statistics released a report at 12:30 GMT today, which said that the producer price index rose by a seasonally adjusted … “US Dollar Touches Highest Level in 3 Weeks Against Euro Before Giving up Gains”
Loonie Weakens After Moody’s Downgrades Canada’s Banks
The Canadian dollar traded lower against its major counterparts today as the credit rating downgrade of six Canadian banks by Moody’s Investors Service damaged the attractiveness of the currency to investors. Moody’s reduced ratings of such banks as Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, and Royal Bank of Canada. The rating agency cited following reasons for its decision: Today’s downgrade of the Canadian banks … “Loonie Weakens After Moody’s Downgrades Canada’s Banks”