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Day: May 23, 2018
May 232018
EUR/USD Remains Subdued After FOMC Minutes
EUR/USD was falling during the Wednesday’s trading session. While the currency pair attempted to rebound after policy minutes released by the Federal Open Market Committee, it did not go far. Market analysts considered the minutes actually supportive to the dollar, basically confirming a June interest rate hike. Flash Markit manufacturing PMI was at 56.6 in May, little changed from 56.5 in April and matching forecasts. Flash Markit services […]
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May 232018
Eurozone Consumer Confidence Hit by Trade-Wars and Italian Political Risk
Talking Points: Consumer confidence disappoints with a reading of 0.2 versus 0.3 in April Italian government uncertainty and the ongoing trade-talks with the US continue to trouble the EU The Euro relinquished significant ground to the Dollar through the past session Learn the number one mistake traders make when trading. Download our Traits of Successful […]
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May 232018
British Pound Hits New Lows on Lackluster UK Inflation Data
The British pound was on a downtrend against the US dollar from the start of today’s session largely boosted by a risk-off sentiment in the markets. The downtrend was further accelerated by the release of the UK Consumer Price Index data for April, which missed expectations, dragging the pound much lower. The GBP/USD currency pair today lost over 135 points to decline from a high of 1.3442 to a low of 1.3305. The currency pair’s decline was initially caused by the risk […]
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May 232018
EUR/USD Remains Subdued After FOMC Minutes
EUR/USD was falling during the Wednesday’s trading session. While the currency pair attempted to rebound after policy minutes released by the Federal Open Market Committee, it did not go far. Market analysts considered the minutes actually supportive to the dollar, basically confirming a June interest rate hike. Flash Markit manufacturing PMI was at 56.6 in May, little changed from 56.5 in April and matching forecasts. Flash Markit services […]
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May 232018
GBPUSD Hits A Five-Month Low on UK Inflation Miss
– Lower consumer prices push back potential UK rate hikes. – GBP hits a five-month low against the USD: next up the FOMC. The IG Client Sentiment Report shows that traders are just over 70% long GBPUSD – a bearish contrarian signal – although current changes give us a mixed trading bias. GBP Continues to […]
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May 232018
Slump in Turkish Lira Continues, USDTRY Nears Five Level
TRY talking points: – USDTRY has hit a record high and further gains towards the 5.0 mark now seem likely. – That has helped weaken emerging market currencies more generally. Check out the IG Client Sentiment data to help you trade profitably. Turkish Lira in freefall The Turkish Lira remains under severe pressure Wednesday, with […]
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May 232018
Cryptocurrencies – The Bears are Growling | Webinar
Cryptocurrency News and Talking Points – $50 billion wiped off in the last three days. – A range of cryptos are eyeing 2018 lows. IG Client Sentimentshows how clients are currently positioned in a wide range of cryptocurrencies and how positioning has changed over the last week, and retail remain heavily long despite recent price […]
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May 232018
US AM Digest: GBPUSD Posts Fresh 2018 Low as Inflation Eases
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA -0.7%, Nasdaq 100 -0.9%, S&P 500 -0.6% Major Headlines UK Inflation falls below expectations at 2.4% (Exp. 2.5%) Eurozone and German PMI miss estimates signaling moderating growth Trump expresses doubts […]
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May 232018
Euro Drops to New YTD Lows on Disappointing Eurozone PMIs
The euro today hit new 2018 lows against the US dollar following the release of disappointing advance PMI data from across the Eurozone. Some of the PMIs released by IHS Markit included the Markit/BME Germany Manufacturing PMI, which missed expectations by a significant margin. The EUR/USD currency pair today lost over 88 points to decline from a high of 1.1788 to a 6-month low of 1.1699. The currency pair was on a downtrend from the Asian session, […]
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May 232018
Turkish Lira Crashes to Record Low
The Turkish lira crashed today, sinking 5% to the record low before recovering a bit. The currency still trades far below the opening level. Analysts attributed the crash to concerns about the direction of monetary policy under President Tayyip Erdogan. While some specialists speculated that Turkey’s central bank may raise interest rates to prevent depreciation of the currency, others said that the bank is not independent enough to do so […]
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