The Australian dollar fell today, dropping for the second consecutive day against its most-traded rivals, as the market sentiment remained unfavorable to riskier currencies linked to commodities and growth. Positive domestic macroeconomic data did not help the Australian currency that much. Australian new motor vehicle sales rose 1.9% in March from the previous year on seasonally adjusted basis. The Westpac-Melbourne Institute Leading Index rose in March from February, and the report … “Market Sentiment Drags Aussie Dawn Despite Positive Data”
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Pound Consolidates Following Tuesday’s Rally
The Great Britain pound was in a consolidation mode today following yesterday’s rally caused by the surprise announcement of a snap general election in Britain this year. The sterling traded flat for the most part against its major peers, though rose a bit against some of them, including the Japanese yen. British Prime Minister Theresa May announced surprise elections in a bid to consolidate power as her political party currently is popular among … “Pound Consolidates Following Tuesday’s Rally”
EUR to have a Brexit-type Pound-collapse if Le Pen wins
In an interview with FXStreet, we discussed everything related to the French presidential elections. The top political market mover of the year is watched with great tension by EUR/USD traders and could have a long-lasting impact on the common currency and the European Union. You can read the interview at its original publication here or below: How … “EUR to have a Brexit-type Pound-collapse if Le Pen wins”
GBP/USD levels to watch after the big jump
Pound/dollar made a huge leap forward on April 18th, riding on the announcement for an early snap election. Here are five reasons why the elections are pound positive. GBP/USD is already trading above the initial post-Brexit low of 1.2790 seen in late June 2016, just after the EU Referendum. In general, we are back to the … “GBP/USD levels to watch after the big jump”
NZD/USD: Trading the New Zealand CPI
The New Zealand CPI (Consumer Price Index), which is released every quarter, measures the change in the price of goods and services charged to consumers. A reading which is higher than forecast is bullish for the New Zealand dollar. Here are all the details, and 5 possible outcomes for NZD/USD. Published on Wednesday at 22:45 GMT. Indicator Background … “NZD/USD: Trading the New Zealand CPI”
US Dollar Drops Against Euro as Housing Data Disappoints
The US dollar weakened against the euro and the British pound among other major currencies on Tuesday, as geopolitical developments around the globe continued to weigh on the US currency. Economic data in the United States failed to support the greenback today, as a new housing report painted a mixed picture of the real estate market. Global geopolitical factors continued to be out of favor for the greenback today. The dollar plummeted against the British pound following a surprising call for a general … “US Dollar Drops Against Euro as Housing Data Disappoints”
Euro Rallies Higher Against US Dollar Despite Looming French Elections
The euro rallied higher against the US dollar today despite the uncertainty surrounding the upcoming French Presidential elections. The euro’s rally entered the second day as the selling pressure on the US dollar keeps rising due to disappointment with the Trump trade. The currency pair had gained over 50 points at the height of its rally and was on a rising trend at the time of writing. The euro’s rally appears to be triggered by the VSTOXX index, which tracks the volatility of European … “Euro Rallies Higher Against US Dollar Despite Looming French Elections”
Pound Soars After Theresa May Shocks Markets with Election Announcement
The Great Britain pound jumped today after Britain’s Prime Minister Theresa May made a surprise announcement that general elections will happen in June. May shocked markets by announcing that a snap general election will be held on June 8. The voting was originally scheduled to happen in 2020. That was a total surprise as the Prime Minister was repeatedly saying that she does not plan early elections. … “Pound Soars After Theresa May Shocks Markets with Election Announcement”
Australian Dollar Drops Against US Dollar upon Release of RBA Minutes
The Australian dollar dropped significantly against the US dollar after the release of the minutes of Reserve Bank of Australia, which hinted at a dovish outlook. The RBA minutes indicated that the bank was worried about Australia’s weak labor market as evidenced by high unemployment rates and the increasing risks in the housing market. The AUD/USD had lost over 50 points at the time of writing as the selling pressure on the Aussie stabilised. There was subdued price action around … “Australian Dollar Drops Against US Dollar upon Release of RBA Minutes”
5 reasons why the UK elections should be pound positive
UK Prime Minister Theresa May surprised the world and announced a snap election on June 8th. With Labour’s consent, the elections will indeed be held on June 8th. May made a calculated gamble to head to the polls. She is aware of her high popularity and is likely to win. GBP/USD is already on the rise, topping 1.2665. Here … “5 reasons why the UK elections should be pound positive”