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Day: January 2, 2018
January 22018
CAD Gains on USD, Trims Losses vs. Other Rivals
The Canadian dollar rallied versus its US counterpart thanks to the broad-based weakness of the US currency. The loonie fell versus its other most-traded rivals, but has trimmed losses by the end of the Tuesday’s trading session. One of the reasons for the currency’s rally was the strong performance of crude oil, Canada’s most important export commodity. Although prices for crude have retreated from the day’s highs by Tuesday’s close, intraday they reached the highest […]
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January 22018
Monetizing My 2018 Forex and Gold Forecast
As the tradition goes, I do not just post my yearly forecast — I act on it and open the binary option trades that end up in-the-money if the forecast turns out accurate. To do it, I use the Ends Between subtype of the Ends In/Out binary option type at Binary.com (one of the few brokers that allow custom expiration period of 1 year). I have opened seven trades this year: EUR/USD, GBP/USD, USD/JPY, USD/CAD, […]
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January 22018
US Dollar Starts 2018 with Extreme Weakness
The US dollar started 2018 extremely week, extending the trend from 2017 and falling against all of its major rivals. Traders continued to doubt that the Federal Reserve will be able to fulfill its plans of three interest rate hikes this year. Coupled with expectations of tighter monetary policy from central banks of other developed nations, that means the dollar is losing its major supporting factor — […]
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January 22018
GBP Gains on USD, Falls vs. Other Rivals After Manufacturing PMI
The Great Britain pound gained on the US dollar but fell versus other most-traded currencies after the release of Britain’s manufacturing PMI. The seasonally adjusted IHS Markit/CIPS Manufacturing Purchasing Managers’ Index fell to 56.3 in December from 58.2 in November, far below the forecast level of 58.0. Still, it was far above the neutral 50.0 level that separates expansion from contraction, and the average reading in the last quarter of 2017 was […]
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January 22018
EUR/USD Rallies to 4-Month Highs on First Trading Day of 2018
The EUR/USD currency pair today rallied to new 4-month highs as the positive investor sentiment towards the single currency was carried over from 2017. The euro’s rally was also boosted by the in-line Eurozone PMI data released by Markit Economics early in the European session. The EUR/USD currency pair today rallied by over 70 points from a daily low of 1.2006 hit in the Asian session to a high of 1.2080 in the mid-European session. The currency pair […]
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January 22018
AUD/USD Gains After Caixin China Manufacturing PMI
The Australian dollar rallied on the first trading day of 2018 thanks to positive economic data from China. But while the currency managed to hold onto gains versus its US counterpart, the Aussie retreated against other rivals. The Caixin China General Manufacturing PMI rose from 50.8 in November to 51.1 in December. That was a noticeably better reading than 50.7 predicted by analysts. China is Australia’s biggest trading partner, […]
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