Day: June 7, 2016

June 7
2016

EUR/USD Trades in Range

EUR/USD was trading in a relatively narrow range during the past two trading sessions as traders continued to speculate about timing of an interest rate hike from the Federal Reserve. Yesterday’s speech of Fed chief Janet Yellen gave no clarity to the issue. The current trading week is somewhat light on economic data, meaning that the currency pair may have troubles in establishing a clear trend. Nonfarm productivity fell 0.6% in Q1 […]

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June 7
2016

RBA Decision Helps Aussie Gain Ground

The most recent decision from the Reserve Bank of Australia is helping the Aussie today. Additionally, expectations for an improved economy are helping the Down Under currency make some strides against its major counterparts. The RBA decided to stand firm on interest rates today, disappointing some Forex traders and analysts who had been hoping for further easing after last month’s interest rate cut. The RBA is keeping the cash […]

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June 7
2016

UK Pound Higher as Wild Swings Accompany Brexit Speculation

UK pound is swinging wildly today, partly due to a suspected fat-finger trade, and partly due to the speculation accompanying the possibility of a Brexit from the European Union. There is a lot of uncertainty right now, and sterling has been moving between gains and losses the last couple of days. Yesterday, the UK pound dropped dramatically against its major counterparts as a poll indicated that those in favor of a Brexit were ahead of those in favor of remaining. […]

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