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Day: November 13, 2017
November 132017
US Dollar Posts Limited Gains as Week Starts
The US dollar was trading marginally higher against its major peers on Monday, though it logged more substantial gains versus the vulnerable Great Britain pound and was almost flat versus the euro. The dollar had some support from the general risk aversion as well as from the specific concerns about the political turmoil in the United Kingdom. Meanwhile, traders were waiting for the outcome of the debates about the long-awaited tax reform in the United […]
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November 132017
US Dollar Posts Limited Gains as Week Starts
The US dollar was trading marginally higher against its major peers on Monday, though it logged more substantial gains versus the vulnerable Great Britain pound and was almost flat versus the euro. The dollar had some support from the general risk aversion as well as from the specific concerns about the political turmoil in the United Kingdom. Meanwhile, traders were waiting for the outcome of the debates about the long-awaited tax reform in the United […]
Read more
November 132017
GBP/CAD to Fall After Descending Triangle Formation
The rate consolidation that took form a descending triangle on the weekly chart of GBP/CAD reflects the broad weakness of the Great Britain pound, which is also seen in the EUR/GBP ascending triangle posted here yesterday. The downtrend in GBP/CAD lasts since 2015 and is forming a strong horizontal support since October last year. Traders taking this setup should be wary of its correlation with the one in EUR/GBP. The chart pattern is […]
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November 132017
Australian Dollar Creeps Down During Monday’s Quiet Trading
The Australian dollar was moving gradually down during the Monday’s uneventful trading session. The Aussie has started a longer-term decline back on September 21. While the currency was attempting to move sideways by the end of October, it has entered a shorter-term downtrend on November 3. Analysts theorized that the currency’s weakness was a result of sluggish inflation, which did not pick up despite solid economic growth. And while the Reserve Bank […]
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November 132017
Australian Dollar Creeps Down During Monday’s Quiet Trading
The Australian dollar was moving gradually down during the Monday’s uneventful trading session. The Aussie has started a longer-term decline back on September 21. While the currency was attempting to move sideways by the end of October, it has entered a shorter-term downtrend on November 3. Analysts theorized that the currency’s weakness was a result of sluggish inflation, which did not pick up despite solid economic growth. And while the Reserve Bank […]
Read more
November 132017
EUR/USD Flat on Uneventful Monday
With no important news, EUR/USD was trading mostly in a range. Both the dollar and the euro had their own factors that were limiting their chances to rally. The greenback suffered from uncertainty about the tax reform bill, while the currency of the eurozone was hurt by speculations that the European Central Bank is not in a hurry to remove monetary stimulus. Treasury budget turned from a surplus of $8.0 billion in September to a deficit […]
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November 132017
Pound Slides as Theresa May Faces Fresh Challenges to Leadership
The Great Britain pound fell today, losing 100 pips against the US dollar intraday. The sterling’s performance against other majors was no better. The main reason for the drop was political turmoil in Britain. UK Prime Minister Theresa May faced a fresh challenge to her leadership as 40 Parliament members of her Conservative party agreed to sign a letter of no confidence to May. That was just eight members short […]
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November 132017
Pound Slides as Theresa May Faces Fresh Challenges to Leadership
The Great Britain pound fell today, losing 100 pips against the US dollar intraday. The sterling’s performance against other majors was no better. The main reason for the drop was political turmoil in Britain. UK Prime Minister Theresa May faced a fresh challenge to her leadership as 40 Parliament members of her Conservative party agreed to sign a letter of no confidence to May. That was just eight members short […]
Read more