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Day: July 21, 2017
July 212017
E-Book Review: Crowds, Crashes, and the Carry Trade by Valeri Sokolovski
Today, I would like to present a review of a research paper called Crowds, Crashes, and the Carry Trade. It was published by Valeri Sokolovski, a finance scholar at the Stockholm School of Economics. It was presented by Mr. Sokolovski at the conference called Exchange Rate Models for a New Era: Major and Emerging Market Currencies organized by the City University of Hong Kong. The article is available for free download in our Forex e-books section. Crowdedness As the title of the work […]
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July 212017
Australian Dollar Sinks as Interest Rate Hike Expectations Slashed
The Australian dollar tumbled today after a central bank official damped expectations of an interest rate hike. Earlier this week, the policy minutes released by the Reserve Bank of Australia boosted the Aussie, signaling that Australian policy makers think that the neutral level for interest rates is far above the current one. That led to speculations that the central bank will hike rates in the near future. Yet RBA deputy governor […]
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July 212017
South African Rand Firm Despite Interest Rate Cut
The South African rand rallied today despite yesterday’s surprise interest rate cut from the nation’s central bank. The South African Reserve Bank reduced its main interest rate by 25 basis points to 6.75% yesterday. It was the first cut in five years and a complete surprise to market participants. Yet the rand, which was one of the strongest emerging market currencies this year, was not disturbed by the surprise announcement. […]
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July 212017
Euro Rallies Against US Dollar for Second Consecutive Day
The euro today rallied higher against the US dollar extending the gains made in a rally that was triggered by Mario Draghi‘s hawkish comments at a press conference yesterday. The euro was much stronger against a weak US dollar, which was negatively affected by the political turmoil in Washington as Donald Trump‘s administration failed to repeal Obamacare. The EUR/USD pair hit a new 52-week high today as the investors expressed confidence in the single currency as opposed […]
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July 212017
Polish Zloty Drops amid Political Turmoil
The Polish zloty dropped today amid political turmoil in Poland that led to confrontation with the European Union. Protesters massed across Poland to oppose the bill that would allow politicians to appoint supreme court judges. The EU also voiced concern over the legislation, considering it to be a move towards authoritarian rule. There were even talks about sanctions against the country, though it is unlikely to happen as some […]
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July 212017
Canadian Dollar Climbs Against US Peer Following Solid Retail Sales
The Canadian dollar moved higher against its US counterpart on Friday, following the release of solid retail sales data that reflected growing consumer demand. A fresh reading for the consumer price index also supported the loonie today after matching analyst estimates. Statistics Canada, the nationâs official statistical office, stated in a report that retail sales continued to increase for the third month in a row, gaining 0.6% to $48.9 billion in May. Sales […]
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