Announcement

Collapse
No announcement yet.

Forex News and Update

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Forex News and Update

    Sterling slips after data clouds UK economy outlook

    Sterling had some losses for a second consecutive day on Tuesday after a survey of Britain's construction sector showed growth cooling in June, adding to signs that the economy might be struggling to gain momentum after a slow start to the year.
    The pound, which at the start of the week was trading less than half a cent away from nine-month highs on bets the Bank of England could raise interest rates by the end of the year, dipped to a six-day low of $1.2918 after the data.
    The purchasing managers' index (PMI) survey showed activity falling to 54.8 in June, still above the 50 level that denotes growth but down from May's 18-month high of 56.0 and slightly below the median forecast in a Reuters poll of economists.


  • #2
    Grow tensions between the U.S. and N-Korea gives the yen a boost

    The Japanese Yen made some remarkable gain against the dollar. The dollar lost its footing due to growing concerns about tensions between the U.S. and North Korea. Their relationship is gotten worse than before and this led the dollar to shed 0.3% to 113.00 Yen in early trade on Wednesday, falling further from the 113.48 level it reached on Monday.

    The tension between the U.S. and North Korea is as a result of the missile test it had carried out Wednesday, which the pentagon condemned. Pentagon throws full support and promised to defend the United States and its allies.

    Meanwhile the Canadian dollar remained strong after the Central bank chief supported an interest rate hike. It traded at C$1.2934/$ shortly after reaching a 10-month high on Tuesday. There is worry that inflation might rise before the middle of 2018. Canada’s Governor Stephen Poloz has proposed policy normalization before prices skyrocket to its target.

    Comment


    • #3
      Oil prices standing tall again after ECB meeting minutes

      Oil bounced back from a heavy fall that happened on Thursday. It was in the red while markets waited to get a glimpse of the ECB meeting minutes, which would reveal the bank’s next move.

      Brent Oil traded at $48.35 per barrel, recovering 1% of what it lost yesterday. This happened in early European trading. There have also been some new developments, which has raised questions about OPEC plans to cut supply.

      The ECB meeting minutes was rather inconclusive as investors hoped to get more clarity. It would have shown whether the ECB would give a clue as to their take on the unwinding extraordinary stimulus. That was not the case as it is.

      Comment


      • #4
        Dollar retreats after soft U.S. labor market data

        The dollar lost some gains on Thursday after a round of weaker-than-expected U.S. labor market data, affirming a gradual pace for raising interest rates by the Federal Reserve.

        The greenback was already on the defensive after Wednesday's issue of the Fed's policy minutes failed to provide a clear picture of future interest rate increases. The slide extended with Thursday's poor set of U.S. economic data.
        The dollar fell on Thursday after a round of weaker-than-expected U.S. labor market data, affirming a gradual pace for raising interest rates by the Federal Reserve.

        The greenback was already on the defensive after Wednesday's issue of the Fed's policy minutes failed to provide a clear picture of future interest rate increases. The slide extended with Thursday's poor set of U.S. economic data.
        Ahead of Friday's U.S. non-farm payrolls data, the ADP National Employment Report showed private sector payrolls increased by 158,000 jobs last month, lower than the 230,000 positions created in May and below economists' expectations for a gain of 185,000.

        In a separate report, the Labor Department said initial claims for state unemployment benefits increased 4,000 to a seasonally-adjusted 248,000 for the week ended July 1. It was the third straight weekly increase in claims.

        Comment


        • #5
          U.S. Dollar reaches 7 months high with non-US farm payroll in view

          The dollar was in a good mood on Friday as it climbed to a seven week high against the Yen. The bank of japan made some positive improvement to its monetary policy, which led the Yen to give up some of its gains.

          The dollar also profited from the expectations of U.S. non-farm payroll report due around 1230GMT. Reuters stats showed that U.S employers have created 179, 000 jobs in June, more than what was created in May. Traders are still looking to know whether there will be another U.S. interest rate hike this year. Generally, investors are standing on a 60% chance of another interest rate hike this year. The green back hit 113.84 Yen, its highest since May 16 this year.

          Comment


          • #6
            Dollar remains strong after strong U.S. jobs report was released

            The dollar gained on Friday after a report showed the U.S. economy created far more jobs than expected in June and previous months, keeping the Federal Reserve on track to raise interest rates at least one more time this year.

            Following the report, the dollar rose to two-month highs against the yen, in its largest weekly percentage gain since late April. The greenback also climbed to a more than one-week peak against sterling.

            Friday's data showed U.S. non-farm payrolls rose 222,000 last month, beating economists' expectations of a 179,000 gain. Data for April and May was revised to show 47,000 more jobs created than previously reported.

            Friday's data showed U.S. non-farm payrolls rose 222,000 last month, beating economists' expectations of a 179,000 gain. Data for April and May was revised to show 47,000 more jobs created than previously reported.

            Comment


            • #7
              Dollar moving slowly; moves up by 0.1% at 114.190 Yen

              The Greenback slows down in its upward movement against a basket of currencies, following a pause in sovereign bond yields. Investors are looking forward to what Feds Chair janet Yellen will say that would give a fresh cue on policy direction.

              The Dollar rose by 0.1 % at 114.190 Yen after two months high at 114.300. Price bounced back and forth, but the dollar is advancing at a slow pace. The sovereign bond yield stopped overnight and made the U.S. Treasury Yields to also drop. Currency strategist Yukio Ishizuki, believes the sudden pause was a result of too move movement in Bond yields, and this may be a bit of a correction. The rise in Bond Yields has strengthened the dollar against the Yen recently until on Tuesday’s pause in movement.

              Comment


              • #8
                The Dollar shrinks back in fear after Trump's son releases dangerous email

                There is chaos for the dollar after President Donald Trump’s son revealed emails sent to his father by a top Russian Prosecutor involving Hilary Clinton’s dealings with Russia. The dollar fell against Major currencies soon after the emails hit the news media.
                The dollar index turned negative on the day to trade down 0.31 percent to 95.73 after trading as high as 96.205 earlier in the session. The dollar pared its gains against the yen and was down 0.09 percent to 113.93 yen.
                "The Crown prosecutor of Russia ... offered to provide the Trump campaign with some official documents and information that would incriminate Hillary and her dealings with Russia and would be very useful to your father," said the June 3, 2016, email to Donald Trump Jr. from publicist Rob Goldstone

                Comment


                • #9
                  U.S. dollar regains consciousness

                  Shortly after the dollar took a hit from Trump’s son, it regains consciousness and rose against a basket of major currencies on Wednesday. Remarks from Fed Chair Janet Yellen that the country’s economy is in good condition to absorb more interest rate hike had a very positive influence on the dollar.

                  The greenback took a reverse turn after it fell against the Euro and started near sessions high when the government bond yield in Euro area fell. Marc Chandler, head of currency strategy at Brown Brothers Harriman, believes the market did not get Yellens comments in the first place, but later made a correction. The dollar index was seen 0.09% up at 95.76.

                  Interestingly, the dollar was not strong enough to gain grounds against its Canada counterpart. The Loonie moved up to $1.2812, marking its highest against the dollar since August 2016.

                  Open an Account | FAQ | Contact Us

                  Comment


                  • #10
                    The dollar on the Defensive as it awaits Fed direction

                    The dollar trades flat against a group of currencies on Friday. Investors looking to go long remained on Edge, making way for most currencies to enjoy minor gains. There is the anticipation of the Fed U.S. inflation data later on that is to set the direction of the dollar.

                    The Greenback has stalled against the Yen on Friday as Fed Chair Janet Yellen watered down some of the monetary tightening expectations that gave strength to the dollar.
                    The dollar index also traded flat at 95.740 against a group of major currencies, but it is predicted to trade 0.25% lower at the end of this week.


                    Comment


                    • #11
                      U.S dollar hits 10 month Low; suffers from strong China data

                      Dollar index dropped down to its lowest level in 10 months on Monday. The currency was seen trading at an unusual level against a number of major currencies, especially the Yen.

                      The Australian dollar on the other hand jubilates over the release of Strong Chinese economic data and fear that the Fed would no longer raise interest rates again this year. The AUD hit a 2 year high in response to the circumstances. It is not surprising to see the Australian dollar react positively to the strong China data since both countries enjoys good trade relationship. The Aussie climbed to a 2-year high at $0.7840.

                      The world’s second largest economy seem to be doing great as its gross domestic products will likely see a rise of 6.9% increase this year. There is also strong retail sales and industrial output report. The dollar index almost touched 95.14 and it was last seen at such level since last September.

                      Last edited by Profiforex_Victory; 07-17-2017, 07:26 PM.

                      Comment


                      • #12
                        Dollar hovers around 10-month low; ECB and BoJ meeting in view

                        The dollar was last seen on Wednesday moving around a 10-month low against the likes of Yen and EUR. Investors are scared to let the currency go lower as they await the ECB and BoJ meeting to be held this week.

                        Both banks are scared of the strength of the Yen and Euro, which may prompt them to strike a dovish stance, giving the dollar a quick boost.

                        Michael Hewson, chief market analyst at CMC markets, believes any hint of dovishness may trigger a sharp rebound for the dollar. The dollar actually suffered from the Republican legislators’ failure to pass a stalled healthcare bill raised fears for the rest of the President Donald Trump’s reform agenda.
                        Meanwhile, the Euro moved 0.2 percent down to $1.1534 after hitting a 12-month high at $1.1583

                        Open Live Account | Demo Account

                        Last edited by Profiforex_Victory; 07-19-2017, 08:44 AM.

                        Comment


                        • #13
                          Dollar slumps to 2 year lows against Euro after Draghi's comment

                          The dollar fell to its lowest in nearly two years against the euro on Thursday after European Central Bank chief Mario Draghi said policymakers would discuss possible changes to its bond-buying scheme in the autumn.

                          Though Draghi said no date had been set for discussing any changes to the program and that ECB rate-setters had been unanimous in their decision not to change their guidance on monetary policy, investors suspected discussions in the autumn would lead to monetary tightening next year.

                          The dollar fell to its lowest in nearly two years against the euro on Thursday after European Central Bank chief Mario Draghi said policymakers would discuss possible changes to its bond-buying scheme in the autumn.
                          Though Draghi said no date had been set for discussing any changes to the program and that ECB rate-setters had been unanimous in their decision not to change their guidance on monetary policy, investors suspected discussions in the autumn would lead to monetary tightening next year.

                          The Euro climbed as high as $1.1632 against the greenback after Draghi spoke, putting it up about 1.02 percent on the day and marking its highest level since August 2015. The euro was last on course for its biggest daily percentage gain in more than three weeks at $1.1622.

                          Open an Account | FAQ | Contact Us

                          Comment


                          • #14
                            Gold rejoices over the dollar crisis

                            Gold was set for its biggest weekly gain in two months on Friday as a surging euro dragged down the U.S. dollar to its weakest since June 2016, making bullion cheaper for holders of other currencies. Bond yields fell after European Central Bank President Mario Draghi said on Thursday the ECB was in no rush to scale back its asset purchase program. The greenback retreated against a basket of major currencies, with the dollar index hitting a more than one-year low in afternoon dealings.

                            Central banks have "taken a more dovish tone and the dollar is working in gold's favor," said Josh Graves, a senior market strategist with RJO Futures in Chicago. Gold is highly sensitive to rising interest rates. Lower yields help gold prices by reducing the opportunity cost of holding non-yielding bullion.
                            Spot gold was up 0.87 percent at $1,255.0601 an ounce

                            Comment


                            • #15
                              Pound trades at $1.30 against the dollar

                              The Pound hovers around $1.30 on Tuesday, not able to take a leap against the weaker green back. The Brexit negotiation and pace of the UK economy growth suppresses the pair’s upward movement. The pound actually recovered from a very bad week against the Euro on Monday as investors took profit on gains for the currency.

                              The future still looks gloomy for the Sterling due to the risk that the Britain country will struggle in the coming years as companies shift operations to mainland Europe.

                              The pound inched down 0.1 percent in early deals in London to trade at $1.3016, around a cent off 10-month highs hit a week ago as the greenback weakened globally. It fell almost 0.2 percent to 89.44 pence per euro

                              Comment

                              Working...
                              X