The South African rand fell during the current trading session but has bounced versus the US dollar by now. The drop was a result of the sovereign credit rating downgrade by Standard & Poor’s. The S&P reduced South Africa’s credit grade to junk status today. The decision followed sacking of country’s Finance Minister Pravin Gordhan last Thursday. The rating downgrade is likely to erode investors’ confidence in the country’s assets and will make … “South African Rand Bounces After Intraday Drop”
Author: admin_mm
Traders Seek Safety on Tuesday, Yen Gains as Result
The market sentiment was favoring safe currencies on Tuesday, helping the Japanese yen to log gains during the current trading session. Among reasons for the investors’ poor mood were the terrorist attack in Russia and the upcoming presidential elections in France. The explosion in St. Petersburg metro killed at least 11 people, and Russian Prime Minister Dmitry Medvedev called it a “terrorist act.” Meanwhile, uncertainty associated with the outcome of the French presidential elections, which … “Traders Seek Safety on Tuesday, Yen Gains as Result”
Aussie Trades Lower After RBA Keeps Monetary Policy Without Changes
The Australian dollar was trading broadly soft today after the nation’s central bank left its monetary policy unchanged. The market sentiment that was negative to riskier currencies also played its part in the Aussie’s decline. The Reserve Bank of Australia decided to keep its main interest rate at 1.5% as the vast majority of analysts were expecting. The central bank kept the statement almost unchanged, though voiced concern about the state … “Aussie Trades Lower After RBA Keeps Monetary Policy Without Changes”
GBP/USD: Trading the UK Services PMI
UK Services PMI is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. 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 … “GBP/USD: Trading the UK Services PMI”
US Dollar Declines Against Yen on Uncertainty Surrounding Congressional Support for Trump
The US dollar declined against the Japanese yen on Monday as investors worried that President Donald Trump might not have enough support in Congress to fulfill his economic agenda. Todayâs concerns came after Democrats managed to gather enough support to block a US Senate confirmation vote for Neil Gorsuch, Trumpâs nominee for Supreme Court. The new political development added to worries that were raised when Trump and House Speaker … “US Dollar Declines Against Yen on Uncertainty Surrounding Congressional Support for Trump”
USD/CAD Declines Briefly After Release of BoC’s Business Outlook Survey
The USD/CAD currency pair today declined briefly after the Bank of Canada released the Spring 2017 results of its Business Outlook Survey, which indicated a positive economic sentiment among the business community. Despite this brief rally, the currency pair continued on an upward trend as the US dollar proved much stronger against the loonie given the weaker crude oil prices. The currency pair declined briefly after the release before resuming its … “USD/CAD Declines Briefly After Release of BoC’s Business Outlook Survey”
EUR/GBP – The Brexit pair has room to the downside
After Article 50 has officially been triggered, there is a lot of attention to euro/pound, aka “the Brexit currency pair”. Here are two opinions seeing some downside: Here is their view, courtesy of eFXnews: EUR/GBP: Overvalued; Shorts Attractive Ahead Of French Election – TD TD Research still like EUR/GBP lower on the grounds that the prospects of selling EUR/GBP … “EUR/GBP – The Brexit pair has room to the downside”
Yen Flat After Tankan Survey
The Japanese yen was mostly flat today after the release of the Tankan survey that showed improvement in both manufacturing and non-manufacturing sectors for large enterprises. The manufacturing index rose from 10 in the December quarter to 12 in the March quarter, missing analysts expectations of 14. The non-manufacturing index increased from 18 to 20, exceeding the median forecast of 19. Overall though, economists were not impressed with the data and did not consider it … “Yen Flat After Tankan Survey”
Aussie Starts Week Soft due to Macroeconomic Data
The Australian dollar has started this trading week with losses due to poor macroeconomic data, both domestic and overseas. The major perpetrator in the Aussie’s fall was the retail sales report that showed unexpected drop by 0.1% in February from January while experts had predicted an increase by 0.3%. Adding to the pressure on the currency was the Caixin China General Manufacturing PMI released on Saturday, which showed a decline from 51.7 in February … “Aussie Starts Week Soft due to Macroeconomic Data”
AUD/USD: Trading the Australian Trading Balance
Australian Trade Balance is closely linked to currency demand and is a key indicator. A reading which is higher than expected is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Tuesday at 1:30 GMT. Indicator Background Australian Trade Balance measures the difference in the value of imported and … “AUD/USD: Trading the Australian Trading Balance”