The Japanese yen was firm today after the release of positive domestic macroeconomic data. The currency gained on the euro also due to the market sentiment that worsened after what looks like as a terrorist attack in France. Japan’s tertiary industry activity rose 0.2% in February from the previous month (seasonally adjusted) after falling at the same rate in January. The Nikkei Flash Japan Manufacturing PMI increased from 52.4 in March to 52.8 in April. … “Yen Gains on Economic Data, Risk Aversion”
Author: admin_mm
Pound Drops After Unexpectedly Poor Retail Sales Data
The Great Britain pound fell today after the release of disappointing retail sales data for March. Britain’s retail sales fell 1.8% in March from February. Forecasts promised a much smaller drop by 0.3%. The sterling slipped following the report but remained at relatively elevated levels that it has reach after the surprise announcement of a snap general election on June 8. GBP/USD slid from 1.2810 to 1.2778 as of 11:35 GMT today … “Pound Drops After Unexpectedly Poor Retail Sales Data”
GBP: To Stay Supported; Still 11% Undervalued – Barclays
Pound/dollar got a significant boost from the announcement about the elections on June 8th, unleashing a massive short squeeze. What’s next? There is a lot of room to go. Here is their view, courtesy of eFXnews: Barclays Capital FX Strategy Research expects the GBP to remain supported going into the snap UK general election but notes … “GBP: To Stay Supported; Still 11% Undervalued – Barclays”
US Dollar Stays Lower on Lackluster Manufacturing Data
The US dollar remained weaker against the euro on Thursday as traders digested a disappointing report on manufacturing activity in the Philadelphia region, which was released earlier today. However, an index that tracks the strength of the greenback rose as the US currency improved against a number of its major peers. The report, which was published by the Federal Reserve Bank of Philadelphia, said that manufacturing activity in the bankâs region continued to expand in April. An index for manufacturing activity … “US Dollar Stays Lower on Lackluster Manufacturing Data”
Euro Climbs Higher Against Peers on Positive Consumer Confidence Data
The euro rallied higher against its main peers after the release of better-than-expected consumer confidence data by the European Commission. The currency also rallied hogher after the release of the Eurozone construction industry data for February, which beat expectations. The EUR/USD currency pair started the day’s session on a steady rising trend for several hours before retracing some of its gains, then later rallying higher and then retracing some of its gains. The euro rallied … “Euro Climbs Higher Against Peers on Positive Consumer Confidence Data”
5 Most Predictable Currency Pairs – Q2 2017
What is a predictable currency pair? This is a pair that tends to respect lines of support and resistance: slowing down when approaching a significant level before backing down. And if the currency moves with full force, it will break that line, and will never look back. A previous level of support turns into resistance … “5 Most Predictable Currency Pairs – Q2 2017”
GBP/USD Maintains Gains as UK Voting Intentions Become Clear
The GBP/USD currency pair today maintained the significant gains made after the announcement of snap elections by British Prime Minister Theresa May. The results of a poll conducted by YouGov on behalf of the Times Newspaper indicated that support for the ruling Conservative Party was at a nine-year high. The currency pair did not post any large moves today but gained over 50 points at the height of its rally before retracing some of its gains. The British … “GBP/USD Maintains Gains as UK Voting Intentions Become Clear”
GBP/USD: Trading the UK Retail Sales
UK Retail Sales is considered one of the most important economic indicators. A reading that is higher than the market forecast is bullish for the British pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Friday at 8:30 GMT. Indicator Background Retail Sales is the primary gauge of consumer spending, a critical component of economic … “GBP/USD: Trading the UK Retail Sales”
Canadian Dollar Drops for Second Day
The Canadian dollar dropped against its US counterpart today, falling for the second consecutive day, as geopolitical tensions were mounting. The loonie declined against other most-traded peers as well due to the drop of crude oil prices. Crude oil is the biggest export commodity of Canada, therefore moves of its prices tend to have a big impact on performance of the Canadian currency. Today, futures for crude tumbled more than 2%, dragging the loonie … “Canadian Dollar Drops for Second Day”
Dollar Logs Limited Rally
The US dollar rallied today, though the gains were limited as rising geopolitical tensions were not adding to the appeal of the currency, despite its role as a safe haven. Analysts described today’s gains of the greenback as a relief rally after yesterday’s big losses against some of its rivals, like the euro and the Great Britain pound. Over the longer term, though, the situation does not look good for the US currency. Doubts about the ability … “Dollar Logs Limited Rally”