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Day: May 11, 2018
May 112018
US Dollar Declines on Friday, Heads to End Week Flat
The US dollar extended yesterday’s decline today, heading to end the week flat versus most of its major rivals. The dollar remained extremely soft following the Thursday’s worse-than-expected inflation data. Today’s reports were decent for the most part as both import and export prices were rising, while the consumer sentiment remained unchanged despite forecasts of a decline. The Survey of Consumer Sentiment by the University of Michigan provided interesting insights into consumer expectations: […]
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May 112018
Cryptocurrency Market’s Heavy Losses; Ripple (XRP) Price Slump
Cryptocurrency & Ripple News and Talking Points – Cryptocurrency market a sea of red as sellers take control. – Ripple slides through support with ease. Cryptocurrency Market Hit by a Wave of Selling A warning that future sales to the cryptocurrency mining community from GPU giant Nvidia has seemingly sparked a heavy sell-off in the […]
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May 112018
AUDNZD to Find Support From Diverging RBA and RBNZ Stance
AUD & NZD Analysis and News RBNZ Sees lower for longer interest rates, RBA remains adamant of a hike AUDNZD primed for further lift amid diverging monetary policy See how retail traders are positioning in AUD and NZD as well as other major FX pairs on an intraday basis using the DailyFX speculative positioning data […]
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May 112018
Canadian Dollar Drops Against US Dollar on Disappointing Jobs Report
The Canadian dollar today registered a significant loss against its American counterpart following the release of Canada’s April employment report in the early North American session. The loonie was stronger against the greenback in the Asian to mid-European sessions backed by the weakening US dollar following yesterday’s mixed US CPI report. The USD/CAD currency pair today rallied from a low of 1.2726 to a high of 1.2795 after the disappointing Canadian jobs report. The currency pair […]
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May 112018
EUR/USD Extends Rally Caused by CPI Miss
EUR/USD extended yesterday’s rally caused by the miss of the inflation data. Today’s data in the United States was a bit mixed, but mostly decent. Yet that did not prevent the currency pair from rising, erasing its losses over the week. Both import and export prices rose in April. Import prices increased by 0.3%, missing the average forecast of a 0.5% increase. On top of that, the March reading was revised from no […]
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May 112018
Australian Dollar Mixed After Poor Housing Data
The housing report released in Australia today was very poor and missed already pessimistic expectations. Yet the Australian dollar was mixed, falling against some rivals, but managing to etch gains versus others. The Australian Bureau of Statistics reported that the seasonally adjusted number of home loans dropped by 2.2% in March following the 0.2% fall in February. Analysts had predicted a bit smaller drop by 1.9%. AUD/USD was up from […]
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May 112018
NZ Dollar Fails to Rally on Positive Manufacturing PMI
The New Zealand dollar attempted to rally today on the back of the very good manufacturing report, but failed, and is now trading lower against most rivals with the exception of the very soft US dollar. The seasonally adjusted Performance of Manufacturing Index reported by Business NZ climbed to 58.9 in April from 53.1 in March. That was the highest level since January 2016. At the same time, food prices rose just 0.1% last […]
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May 112018
Asian Stocks Mostly Gain After US Inflation Miss, ECB Draghi Eyed
ASIAN STOCKS TALKING POINTS: Most Asian stocks rose Friday on a day short of local economic cues Weaker US inflation seems to have reassured investors that the pace of rate hikes won’t accelerate The US Dollar edged back from its recent highs What’s the #1 mistake that all traders make? Most Asian stock markets traded […]
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May 112018
EURUSD Remains Fragile as Italian Risk Continues to Rise
EURUSD News and Talking Points – A Five Star Movement/Northern League tie-up will ring alarm bells in Brussels. – USD pauses before the next move higher. The DailyFX Q2 Trading Forecasts for all major currencies, commodities and indices, are now available to download to help you make more informed trading decisions. EURUSD Likely to Come […]
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May 112018
Asia AM Digest: PHP, SGD Await HK GDP. USD Uptrend Holds Post CPI
Current Market Developments – US Dollar Still in Uptrend Post CPI After the US Dollar accelerated its decline as local core inflation missed expectations, it rose as sentiment picked up. The S&P 500 rallied and finished the day 0.94% higher, probably due to the CPI miss reducing the potential for tightening credit conditions. However, the […]
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