The initial reaction to a gain of less than 100K was clearly a disappointment. However, some of the details in the report are encouraging. This allowed the US dollar to bounce back. Here is a quick analysis of the key points related to the Non-Farm Payrolls report. There are many silver linings that eventually help the greenback … “NFP Analysis: The Good, the Bad and the Ugly”
Author: admin_mm
UK Economic Reports Fail to Impress, Sterling Under Pressure
The Great Britain pound dropped today as basically all reports released from the United Kingdom during the current trading session were bad and missed market expectations. The Halifax House Price Index did not change in March from February even though analysts had promised a small increase by 0.2%. Manufacturing production fell 0.1% and industrial production shrank by 0.7% in February from the previous month while markets were expecting … “UK Economic Reports Fail to Impress, Sterling Under Pressure”
5 Bitter Truths Every Trader Needs to Know About Forex
The internet today is flooded with so many sweet-mouthed marketers, ready to convince you into signing up for their forex brokerage services. In most situations, they go as far as telling you that trading the forex market with their brokerage platform will give you an edge of making more money from trading. Most times they … “5 Bitter Truths Every Trader Needs to Know About Forex”
Yen Climbs After USA Attacks Syrian Military Base
The Japanese yen climbed today as US President Donald Trump authorized military strike on the Syrian airbase. The USA claimed that the strike is a response to the chemical weapon attack that killed dozens of civilians earlier this week and for which the United States blamed Syria and its President Bashar al-Assad. That will strain US relationships with Russia and China as those countries back Assad. As it often happens, the yen gained … “Yen Climbs After USA Attacks Syrian Military Base”
USD looking for a new direction, EUR/USD stuck at triple
The US dollar is awaiting the NFP. But will it indeed move afterward? In general, what’s next for the greenback? Here is their view, courtesy of eFXnews: USD: Attractive To Use Periods Of Elevated Doubt To Add Long Exposure – BNPP BNP Paribas FX Strategy Research continues to favor adding to USD longs on weakness. BNPP notes … “USD looking for a new direction, EUR/USD stuck at triple”
The Aussie may be vulnerable, but perhaps more so on
The Australian dollar dropped on poor retail sales and later on failed to find consolation on the unexciting RBA decision. What’s next for the Aussie? Here is their view, courtesy of eFXnews: AUD: Overvaluation In ‘Jeopardy’; Staying Short On Crosses – Credit Agricole Credit Agricole CIB Research argues that while global reflation would normally be positive … “The Aussie may be vulnerable, but perhaps more so on”
Canadian Dollar Recovers from Early Losses Despite Negative Housing Data
The Canadian dollar rose against its US counterpart and the euro on Thursday, after recovering from the losses it had earlier today. The loonie appeared unaffected by fresh housing data that revealed a smaller value of building permits in February. Statistics Canada, the nationâs official statistical office, released a report that stated that building permits issued in February totaled $7.5 billion, which is 2.5% lower than Januaryâs level. … “Canadian Dollar Recovers from Early Losses Despite Negative Housing Data”
EUR/USD Declines on Dovish ECB and the Release of US Jobless Claims Data
The EUR/USD currency pair has been on a major decline during today’s session following dovish comments from Mario Draghi and the positive US jobless claims data. The release of the minutes of the European Central Bank‘s March meeting also indicated that the bank would be maintaining its forward guidance into the future. The currency pair lost close to 20 points after the release of the US jobless claims data to extend its bearish … “EUR/USD Declines on Dovish ECB and the Release of US Jobless Claims Data”
Australian Dollar Drops on Chinese Services PMI, Manages to Bounce
The Australian dollar slumped after today’s data showed that growth of China’s services sector slowed unexpectedly. Yet by now, the currency managed to rebound and is trading near the opening level currently. The Caixin China Services PMI dropped from 52.6 in February to 52.1 in March instead of rising to 53.2 as analysts. China is Australia’s biggest trading partner, therefore data from the Asian country tends to influence performance of the Aussie strongly. … “Australian Dollar Drops on Chinese Services PMI, Manages to Bounce”
Czech Koruna Soars After Central Bank Removes Cap
The Czech koruna soared today after the nation’s central bank removed the cap on the currency against the euro (CZK27 per euro). The Czech National Bank announced today: At its extraordinary monetary policy meeting today, the CNB Bank Board decided to end the CNBâs exchange rate commitment. The bank warned that it will take measures in case of excessive volatility on the currency markets: The CNB stands ready to use its … “Czech Koruna Soars After Central Bank Removes Cap”