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Day: September 26, 2016
September 262016
US Dollar Soft as Traders Worry About Presidential Elections
The US dollar was soft today due to uncertainty associated with the US elections and presidential debates ahead of them. The greenback managed to stay flat against the Great Britain pound and the Swiss franc. Furthermore, the US currency advanced versus the Canadian dollar. The first of the four planned presidential debates between Hilary Clinton and Donald Trump is going to happen today. Market participants are worried about the possibility of Trump gaining more […]
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September 262016
EUR/USD Extends Rally for Fourth Day
EUR/USD rose today, extending its rally for the fourth consecutive session. Uncertainty about the outcome of the presidential elections in the United States and concerns that Donald Trump may win Monday’s debate with Hillary Clinton were driving the dollar lower versus its peers. Better-than-expected data from US housing market was unable to provide support for the US currency. Meanwhile, the unexpected climb of the German business climate index contributed to the strength […]
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September 262016
Is Forex Market Random?
Are Forex charts random? Does trying to predict the market and trade currencies for profit even makes sense? Traders and curious people ask these questions and, I am sure, find a lot of contradicting answers online. The number of traders who claim getting consistent profits from the foreign exchange market is counterbalanced by a number of persons stating that the market cannot be predicted because randomly-generated charts cannot be reliably […]
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September 262016
Pound Goes Lower as Brexit Fears Return
The Great Britain pound was soft against some of the majors (though stayed flat versus the US dollar) as Brexit fears were returning to the market. News that the United Kingdom may start the process of leaving the European Union early caught many market participants off guard, triggering panic selling of the sterling. Now, analysts are talking about the so-called hard Brexit with the UK losing access to the EU single market. […]
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September 262016
Japanese Yen Higher Even as Kuroda Speaks About Easing
The Japanese yen appreciated against other most-liquid currencies today after the speech of Haruhiko Kuroda, Bank of Japan Governor, even though he was talking about a possibility of additional monetary easing. Kuroda reiterated that he is ready to ease monetary policy further if necessary, saying: There can be cases where such powerful monetary easing is needed, depending on developments in economic activity and prices as well […]
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September 262016
Future Does Not Look Bright for Canadian Dollar
There are plenty of factors that could impact the performance of the Canadian dollar this trading week. Unfortunately for the currency, most of them are negative. Letâs look at the most important of them. We will start with events in Canada itself. Stephen Poloz, Bank of Canada Governor, will speak at Western Washington University on Tuesday overnight. If his speech is relatively hawkish, then the currency will likely rise. Canadaâs […]
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