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Day: June 20, 2016
June 202016
Is the Fall of the US Dollar Inevitable?
Introduction The goal of this article is to study the likelihood of the long-term US dollar depreciation vs. its major counterparts in the coming years. I presume the status of the US dollar as the global reserve currency (international currency) to be unchanged in the near future and I base my research and conclusion on the the strengths and weaknesses pertinent to the USD due to such status. Contents 1 Introduction 2 What Does the Data Tell Us? 3 What Causes Dollar to Depreciate? 4 […]
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June 202016
New Zealand Dollar Rallies Ignoring Domestic Fundamentals
Economic data released from New Zealand today was not particularly good, but it had little bearing on the nation’s currency that joined a rally of other high-beta currencies. The Westpac/McDermott Miller Consumer Confidence logged a decline from 109.6 in the March quarter to 106.0 in the June quarter. The reading above 100.0 indicates optimism, but that optimism is clearly waning. The report confirmed that, commenting on the result: Thatâs the seventh […]
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June 202016
Canadian Dollar Goes Higher with Help of Crude Oil & Brexit Outlook
The Canadian dollar rallied today with the help of rising prices for crude oil and the positive general market sentiment that was beneficial to commodity-linked currencies. The traders’ mood was positive today as prospects for the Brexit were waning. This led to a rally of riskier currencies linked to commodities and economic growth. The Canadian dollar was one of such currencies, and it also got additional help for the rally of crude oil. The rise of oil prices was […]
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June 202016
Pound Jumps More than 1% Against Dollar & Yen
The Great Britain pound continued to soar against other most-traded currencies, particularly safer ones like the US dollar and the Japanese yen, as prospects for the Brexit had waned significantly. Last week’s deadly attack on the pro-EU lawmaker caused a serious shift in the Britons’ sentiment, and now prospects for Britain leaving the European Union look slim. It is not impossible, but polls show that the “remain” votes rose to 72% as of now. This […]
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June 202016
Australian Dollar Opens Sharply Higher, Moves Further Up
The Australian dollar opened sharply higher today and is now trading above the opening level as traders felt less concerned about the possibility of the Brexit. Traders felt more inclined to purchase riskier currencies as the sentiment shifted and prospects for the Brexit waned. As for domestic fundamentals, the Reserve Bank of Australia will release minutes of its latest policy meeting on Tuesday. The RBA has refrained from cutting interest rates earlier this month, and the minutes […]
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June 202016
Better to Avoid Sterling Ahead of Britain’s Referendum
Britain’s upcoming referendum about membership in the European Union remains a hot topic in the news and speculations of market participants. Many analysts advise to stay away from the Great Britain pound ahead of the event. Moves of the sterling have been hard to predict recently as they were highly dependent on results of polls. Currently, polls show that votes for staying in the EU lead, but that may yet change. And volatility is likely to increase […]
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