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Canadian employment report eyed as loonie swings from high to low – Forex News Preview

Posted on August 9, 2018 at 9:45 am GMT

Canadian employment numbers for July due on Friday at 12:30 GMT could add to the recent run of strong data for the North American economy. Jobs growth is expected to slow but remain solid in July, as the country enjoys a bounce in economic momentum amid strained relations with the United States and Saudi Arabia, and ongoing efforts to renegotiate NAFTA. The Canadian dollar could be set for fresh highs against its US counterpart after reaching a near 2-month peak [..]

European Open Preview – Kiwi plummets on dovish RBNZ; US PPI and US-Japan trade meeting on the horizon

Posted on August 9, 2018 at 7:35 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Thursday, after posting some relatively small losses (-0.13%) in the previous session. Meanwhile, the kiwi collapsed overnight, falling by nearly 1.4% against the dollar, after the RBNZ pushed further back the anticipated timing of its first planned rate increase and reiterated that a rate cut remains on the table. The British pound struggled as well, touching fresh multi-month lows against its major peers as speculation [..]

US Open Preview – Sterling plunges amid worries of no Brexit deal; RBNZ rate announcement pending

Posted on August 8, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar weakened by 0.27% versus the Japanese yen on Wednesday, with dollar/yen trading near 111.00, while the US dollar index, which gauges the greenback’s strength against a basket of six major currencies, held near its opening level. Euro/dollar returned to 1.1600 (+0.03%) after reaching an intraday high of 1.1628, while euro/yen dived by 0.38%. Moving to the UK, a no-deal Brexit scenario has been growing in investors’ minds, as less than eight months remain for the UK to leave the EU, and there are still [..]

European Open Preview – Euro advances as sterling & dollar retreat; RBNZ meeting eyed

Posted on August 8, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is down by 0.13% on Wednesday, extending the pullback that started in the previous session. The euro capitalized both on the dollar’s correction and on some weakness seen in sterling. Meanwhile, the loonie plunged even in the absence of any NAFTA news. STOCKS: US markets continued their upward march on Tuesday, with the lack of any significant [..]

US Open Preview – Pound, euro up as dollar reverses lower; BoJ summary of opinions in focus

Posted on August 7, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, eased by 0.26% today, after it came close to the more than 1-year high of 95.652 on Monday. Dollar/yen retreated as well by 0.20%, while euro/dollar picked up speed, trading near 1.1600 (+0.30%). Also, pound/dollar recovered some ground (+0.18%) after falling to an 11-month low overnight on worries about a no-deal UK exit from the European Union. A Bloomberg [..]

European Open Preview – British pound suffers “Brexit blues”

Posted on August 7, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by a little more than 0.10% on Tuesday, giving back some of the gains it posted yesterday. Meanwhile, the British pound retreated across the board on Monday, as speculation intensified that the UK could exit the EU without any deal. Elsewhere, the aussie ticked up after the RBA was perceived to be a little more optimistic, on the margin, upon completion of its policy meeting earlier today. STOCKS: US [..]

US Open Preview – Sterling the worst performer; aussie weaker ahead of RBA decision

Posted on August 6, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength against a basket of six major currencies, was trading higher by around 0.25%, with euro/dollar being down by 0.20% and trading around the 1-year low of 1.1530 despite Eurozone’s Sentix investor confidence index for the month of August surprisingly improving for the second month. Dollar/yen moved higher by 0.15% above the 111.00 psychological level. Pound/dollar plummeted to an 11-month low of 1.2932 on Monday (-0.52%) as comments by [..]

European Open Preview – Yen gains support on trade tensions

Posted on August 6, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.2% higher on Monday, in the aftermath of the US jobs report on Friday, which was slightly softer than consensus expectations, but still relatively strong overall. Meanwhile, the Japanese yen, attracted some safe-haven flows on Friday, ending the day higher across the board after China unveiled a list of $60bn worth of US goods it plans to impose tariffs on. STOCKS: Wall Street closed higher on Friday, undeterred by the [..]

US Open Preview – Dollar in quiet trade ahead of Nonfarm payrolls

Posted on August 3, 2018 at 11:10 am GMT

Here are the latest developments in global markets: FOREX: Ahead of the all-important Nonfarm payrolls the dollar index, which gauges the greenback’s strength versus six major currencies hit a fresh two-week high of 95.36 early on Friday before it fell back to 95.24 (+0.08%). Dollar/yen was trading 0.05% higher on the day around 111.70, and is set to complete a green day after two consecutive negative sessions. Turning to the euro area, retail sales grew less than expected in June and July’s final services PMI readings [..]

European Open Preview – Dollar stands at 2-week highs ahead of US jobs report

Posted on August 3, 2018 at 8:10 am GMT

Here are the latest developments in global markets: FOREX: The dollar was up on the margin versus a basket of currencies on Friday and at a two-week high after rising considerably on Thursday. The outcome of the US jobs report due later today, as well as any developments on global trade may constitute the next catalysts to steer the currency in either direction. STOCKS: The Dow Jones finished Thursday’s trading marginally lower, with the S&P 500 and Nasdaq Composite edging higher by 0.5% and 1.2%. [..]

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