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Day: April 6, 2016
April 62016
EUR/USD Remains Firm After Fed Minutes
EUR/USD was falling in the first half of the current trading session but bounced in the second. The dollar made an attempt to bounce against the euro after the release of Federal Reserve’s latest policy meeting. Yet the greenback was unable to follow through with a rally, trading largely sideways. US crude oil inventories fell by 4.9 million barrels last week after rising by 2.3 million the week before. Experts had predicted an increase […]
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April 62016
UK Pound Continues Decline
UK pound continues to decline as stocks fall and as risk aversion sets in. However, even though these are issues that can weigh on sterling, there isn’t much reason for some of the recent losses. Yes, data has been lackluster, but there aren’t new data prints to warrant the most recent rout for the UK pound. Right now there is nothing that should be triggering some of the earlier […]
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April 62016
Divergence, Risk Aversion Weigh on Euro
Euro is trading mixed against its major counterparts today, falling against the dollar and the yen as risk aversion continues. Many also expect to see a revival of the divergence trade between the dollar and the euro. The 19-nation currency is higher against the pound, though, as the sterling appears on the verge of collapse. Forex traders and analysts are waiting for the release of minutes from the latest meetings of the ECB and Federal Reserve. Many expect to see signs of divergence […]
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April 62016
Yen Remains Powerhouse, Reaching Multi-Year Highs
The Japanese yen remains a powerhouse on the Forex market, continuing to rise higher and higher. The currency was trading near the highest level since October 2014 versus the US dollar and close to the strongest rate since October 2013 against the Great Britain pound. The strong currency undermines attempts of Japanese policy makers to revive the nation’s economy. Therefore, speculations persist that the Bank of Japan is going to make its monetary policy even […]
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April 62016
Australian Dollar Benefits from China’s Data
The Australian dollar traded above the opening level today after the release of positive macroeconomic data from China. As of now, the currency has trimmed its gains but remains above the opening. The Caixin China Services PMI rose from 51.2 to 52.2 in March. That is compared to the consensus analysts’ estimate of 51.4. Additionally, crude oil maintained its earlier rally, helping currencies related to raw materials. AUD/USD rose from […]
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