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Day: May 10, 2018
May 102018
US Dollar Retreats as Inflation Misses Expectations
The US dollar fell against its most-traded rivals (with the exception of the extremely weak Great Britain pound) after US inflation missed expectations. The Bureau of Labor Statistics reported that the Consumer Price Index rose 0.2% in April on a seasonally adjusted basis following the 0.1% decline in March. It was a slower rate of growth than 0.3% predicted by experts. The core CPI rose 0.1%, also missing expectations — 0.2%. Analysts […]
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May 102018
British Pound Drops Against US Dollar on BoE Rate Decision
The British pound today dropped significantly against the US dollar after the Bank of England left its monetary policy unchanged to the disappointment of many investors. The GBP/USD currency pair had initially rallied higher in the early European session despite the release of weak UK trade balance data in anticipation of the BoE rate decision. The GBP/USD currency pair today dropped from a high of 1.3618 to a low of 1.3459 following the BoE decision. The currency pair […]
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May 102018
Italian Stocks Fall, Bond Yields Rise as Political Worries Increase
Italy talking points: – In Italy, the anti-establishment 5-Star movement and the anti-immigrant League now seem likely to form the next government. – That has sent 10-year Italian government bond yields to their highest for seven weeks and knocked Italian stock prices lower. Check out the IG Client Sentiment data to help you trade profitably. […]
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May 102018
GBPUSD Weaker After Bank of England Neutral Hold
GBPUSD Analysis and News GBP falls following the Bank of England’s 7-2 neutral hold; Inflation and GDP forecasts lowered Market Pricing for an August Rate Hike Falls to 42% from 62% prior to announcement For a more in-depth analysis on Sterling, check out the Q2 Forecast for GBP/USD GBP Bulls Left Disappointed GBP Bulls left […]
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May 102018
GBP Traders Eye BoE’s Super Thursday Releases | Webinar
GBP Talking Points Check out our new Trading Forecasts: They’re free and have been updated for the second quarter of 2018 Bank of England and the Rate Hike Dilemma BoE governor Mark Carney turned mildly-dovish a couple of weeks ago, pulling the rug under the feet of a strong GBP complex. With the first look […]
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May 102018
Inflation Overshoot in April Unlikely to Deter Fed’s Path
Talking Points: – Headline CPIrose by 2.5% YoY in April, in line with expectations, from 2.4% in March – Core inflation remained above 2% at 2.1% in April though slightly lower than the 2.2% expectation – Fed’s Bostic mentioned yesterday the inflation is likely to overshoot for “awhile,” he was spot on with today’s data […]
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May 102018
US AM Digest: USD Gains Come to a Halt as CPI disappoints
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA +0.2%, Nasdaq 100 +0.3%, S&P 500 +0.3% Major Headlines NZD slides as RBNZ signals that rates could go up or down BoE delivers neutral hold, lowers inflation and GDP forecasts […]
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May 102018
EUR/USD Halts Decline After US CPI Misses Expectations
EUR/USD rose for the first time after four consecutive sessions of losses as the US Consumer Price Index rose less than was expected. Other macroeconomic indicators released in the United States over today’s trading session beat expectation, but that hardly affected the rally. CPI rose 0.2% in April, failing to meet the consensus forecast of a 0.3% growth. The index fell 0.1% in March. (Event A on the chart.) Initial jobless claims were […]
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May 102018
Japanese Yen Recovers After Intraday Losses
The Japanese yen fell during the Thursday trading session but has managed to trim its losses against some rivals and erase them outright versus other by now. The Bank of Japan released the Summary of Opinions at the Monetary Policy Meeting in April. It showed that the central bank thinks it is too early to discuss policy normalization until the bank is close to achieving its 2% inflation target. The BoJ reported […]
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May 102018
Malaysian Ringgit Falls After Election
The Malaysian ringgit fell against the US dollar today after the surprise outcome of the country’s general election. In the surprise outcome, Mahathir Mohamad won the Prime Minister seat from the incumbent Prime Minister Najib Razak as the opposition Pakatan Harapan coalition came as a victor in the election. It was historic event for the country, being the first time for the ruling Barisan Nasional alliance to lose power. Markets reacted negatively to the news as the change of power means […]
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