The US dollar weakened against the euro and the British pound on Monday, as investors speculated the future road of monetary policy in the United States. Comments from New York Federal Reserve President William Dudley on Friday offered a dovish position on future interest rate hikes ahead of a speech by Federal Reserve Chairwoman Janet Yellen today. Dudley, who is a member of the Federal Open Market Committee, said that the time when the Federal Reserve … “US Dollar Declines Against Euro as Anticipation Grows for Yellen Speech”
Author: admin_mm
EUR/USD Starts the Week on a Decline as French Elections Approach
The EUR/USD currency pair began the day trading under intense pressure, which did not change even with the release of the Eurozone Sentix Investor Confidence index. The weekend release of a poll conducted by Kantar Sofres on the French election indicated that the election was now a four-horse race. The currency pair lost about 20 points from its daily high at the peak of its decline and was trading in a sideways range during most … “EUR/USD Starts the Week on a Decline as French Elections Approach”
Czech Koruna Continues to Appreciate After Cap Removal
The Czech koruna continued to appreciate after the nation’s central bank had removed a cap on the currency last week. It is no surprise to see the volatility of the koruna to increase after the Czech National Bank scrapped the ceiling of CZK27 per euro even though the decision was much better communicated to markets and was far less shocking than the similar move by the Swiss National Bank. Analysts expect the currency to continue appreciation, but … “Czech Koruna Continues to Appreciate After Cap Removal”
Aussie Starts Week Soft in Risk-Off Environment
The Australian dollar started the week soft, opening below the Friday’s close, as the risk-off sentiment continued to prevail on markets, driving investors away from riskier assets. Geopolitical tensions rise all around the world: in Asia with North Korean missile tests, in Middle East with the US attack on a Syrian base, in Europe with the upcoming French elections, and in America with concerns about the ability of US President Donald Trump to deliver on his … “Aussie Starts Week Soft in Risk-Off Environment”
GBP/USD: Trading the UK Average Earnings Index
UK Average Earnings Index, released each month, is a leading indicator of consumer inflation. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 8:30 GMT. Indicator Background The Average Earnings Index measures wage growth and is closely watched by … “GBP/USD: Trading the UK Average Earnings Index”
EUR/USD at strong support – what’s next?
EUR/USD made a last-minute drop to end the first week of Q2 at critical support. What’s next? Here is their view, courtesy of eFXnews: EUR/USD: Make Or Break At 1.0590 – JP Morgan JP Morgan FX Technical Strategy Research notes that EUR/USD key-reversal down the market has extended its losses slightly but lost down-momentum as … “EUR/USD at strong support – what’s next?”
US Dollar Ends Week Strong as Markets Ignore NFP
US nonfarm payrolls should have been the major event this week, but in reality it turned out to be kind of a non-event as markets almost ignored the report, allowing the US dollar to end the week rather strong. The official employment report showed very underwhelming growth, which was a huge surprise considering that the private ADP data released beforehand demonstrated a very different picture. The dollar fell after the report … “US Dollar Ends Week Strong as Markets Ignore NFP”
EUR/USD Declines to Close the Week Much Lower Despite Poor NFP Data
The EUR/USD currency pair declined significantly as the euro weakened against the US dollar despite lower-than-expected US non-farm payroll report. The positive German trade balance figures did little to boost the weak euro as the currency pair tested new lows for the month and was on track to close below its opening price this week. The currency pair lost over 70 points at the height of its decline and has been on downward trend for the better … “EUR/USD Declines to Close the Week Much Lower Despite Poor NFP Data”
Canadian Dollar Gets Boost from Economic Indicators & Oil Prices
The Canadian dollar rallied against its major peers today thanks to solid macroeconomic data and the rally of crude oil prices. Canadian employment grew by 19,400 in March from February compared to just 5,700 predicted by analysts. The unemployment rate increased from 6.6% to 6.7%, but that was expected. The Ivey Purchasing Managers Index climbed from 55.0 in February to 61.1 in March, beating expectations by a wide margin. The trading environment was … “Canadian Dollar Gets Boost from Economic Indicators & Oil Prices”
US Dollar Unfazed by Abysmal Nonfarm Payrolls
US nonfarm payrolls released today were extremely disappointing with meager employment growth. The dollar tumbled immediately after the report, as one could expect, but the losses were very short-lived, surprisingly enough. Currently, the greenback trades rather strong. According to the report, US employers added just 98,000 jobs in March instead of 175,000 promised by forecasters. At the same time, the unemployment rate fell unexpectedly from 4.7% to 4.5% — the lowest … “US Dollar Unfazed by Abysmal Nonfarm Payrolls”