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Day: May 16, 2018
May 162018
EUR/USD Hits New 2018 Lows Despite Positive Eurozone CPI Data
The EUR/USD currency pair today hit fresh 2018 lows in the mid-European session despite the release of mostly positive Eurozone CPI data. The currency pair had a muted reaction to the European Central Bank President Mario Draghi’s speech in Frankfurt today, but headed lower triggered by the stronger US dollar. The EUR/USD currency pair today lost over 90 points to decline from a high of 1.1854 to a low of 1.1763. The currency pair maintained […]
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May 162018
Political Risk in Italy Returns to Haunt EUR, BTPs and Italian Stocks
EUR talking points: – So far, Euro traders have paid little attention to Italian politics. However, looking ahead, a modest risk premium will likely have to be priced in. – Italian government bonds and Italian stocks will also likely suffer. Check out the IG Client Sentiment data to help you trade profitably. And for a […]
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May 162018
JPY Looking Attractive on Rising Risks Posed by North Korea and Italy
JPY Analysis and Talking Points The Japanese Yen is likely to find support from rising political tensions EURJPY attractive on the downside as YTD lows come into focus See our Q2 JPY forecast to learn what will drive the currency through the quarter. Geopolitical Risks Keep JPY Elevated Whether its trade wars between China and […]
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May 162018
Cryptocurrencies – Prices Edge Lower, Ranges Forming | Webinar
Cryptocurrency News and Talking Points – Little heavyweight news to drive any of the tokens. – Trading ranges may be being formed. IG Client Sentimentshows how clients are currently positioned in a wide range of cryptocurrencies and how positioning has changed over the last week. Cryptocurrency Market Heads South – is Support Close? It seems […]
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May 162018
US AM Digest: EUR Underperforms on Italian Political Concerns
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA -0.1%, Nasdaq 100 (unch), S&P 500 -0.1% Major Headlines Italian Assets underperform over Italian political concerns Geopolitical tensions rise as North Korea abruptly cancels South Korean summit EUR: Investors have […]
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May 162018
EUR/USD Sinks as US 10-Year Treasury Yield Soars
The US dollar was extremely strong, prompting EUR/USD to tank, as the benchmark 10-year Treasury yield climbed above 3%. Adding to the strength of the currency were economic releases in the United States. Most of them were good with the exception of retail sales that missed expectations, though just a little bit. Retail sales rose 0.3% in April, missing the analysts’ average estimate of a 0.4% increase slightly. The March increase received a positive revision from […]
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May 162018
EUR/USD Falls on European Politics
EUR/USD dropped today on speculations that the Italian populist coalition may seek government debt forgiveness from the European Central Bank, though officials denied such allegations. As for US macroeconomic releases, the data was mixed, but no indicator was really bad. Housing starts were at the seasonally adjusted annual rate of 1.29 million in April, down from 1.34 million in March and missing the analysts’ average estimate of 1.32 million. […]
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May 162018
Australian Dollar Firm in Face of Disappointing Reports
The Australian dollar was firm today despite underwhelming domestic macroeconomic reports released over the current trading session. The Westpac-Melbourne Institute Consumer Sentiment Index for Australia declined 0.6% in May, the same as in April. The Australian Bureau of Statistics reported that the Wage Price Index rose 0.5% in the first quarter of this year from the previous three months, matching the increase in the fourth quarter of the last year. Analysts were counting on a somewhat faster […]
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May 162018
Japanese Economy Halts Growth, Yen Doesn’t Care
Japan’s economy surprised economists, unexpectedly halting growth last quarter. Yet that did not bother the Japanese yen, which rose against its major rivals today. Japan’s Cabinet Office reported that gross domestic product fell 0.2% in the first quarter of this year from the previous three months. Analysts had predicted no growth. At the same time, the annual GDP deflator rose 0.5%, beating forecasts […]
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May 162018
EUR/USD Sinks as US 10-Year Treasury Yield Soars
The US dollar was extremely strong, prompting EUR/USD to tank, as the benchmark 10-year Treasury yield climbed above 3%. Adding to the strength of the currency were economic releases in the United States. Most of the were good with the exception of retail sales that missed expectations, though just a little bit. Retail sales rose 0.3% in April, missing the analysts’ average estimate of a 0.4% increase slightly. The March increase received a positive revision from […]
Read more