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Day: May 30, 2018
May 302018
US Trade Balance Surprises in April Even as Trade Wars Progress
Talking Points: US advance goods trade balance was -$68.2 billion versus -$71.0 billion forecasted The metric will be of heightened importance as trade wars progress Dollar reaction to the data print was muted by distraction from an Italian-led risk rebound Learn the number one mistake traders make when trading. Download our Traits of Successful Traders […]
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May 302018
Canadian Dollar Rallies Higher on BoC Interest Rate Decision
The Canadian dollar today rallied against its US counterpart driving the USD/CAD currency pair to new lows after the Bank of Canada announced its interest rate decision. The loonie’s rally was further boosted by disappointing releases from the US docket such as the weak quarterly GDP data. The USD/CAD currency pair today crashed from a high of 1.3039 to a low of 1.2839 losing about 200 points after the BoC statement. The currency […]
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May 302018
EURUSD Likely Lower on US Beige Book, NFPs
EURUSD News and Talking Points – US data is likely to dominate EURUSD for the rest of the week. – Italian and Spanish politics still firmly in-play. The DailyFX Q2 Trading Forecasts for all major currencies, commodities and indices, are now availableto download to help you make more informed trading decisions. EURUSD Sell-off Stalls but […]
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May 302018
Preview: Bank of Canada Interest Rate Seen on Hold Amid Rising NAFTA Concerns
CAD Analysis and Talking Points BoC likely to keeps rates unchanged amid rising global uncertainty, most notably from NAFTA Focus on accompanying statement which will dictate CAD price action. See our Q2 CAD forecast to learn what will drive the currency through the quarter. The Bank of Canada will publish its latest interest rate decision […]
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May 302018
Cryptocurrency Price Analysis: Trading Ranges | Webinar
Cryptocurrency News and Talking Points – A lack of news flow leaves technical levels holding sway. – Bitcoin’s trading range continues to tighten – Will it hold? 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 Bouncing Back from […]
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May 302018
US AM Digest: Euro Sees Relief Rally, USD Slips on Subdued GDP and ADP Figures
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 0.5%, S&P 500 0.6% Major Headlines German Inflation rises to 2.2% due to higher oil prices US Q1 GDP and ADP Employment Change missed expectations Italy look […]
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May 302018
EUR/USD Recovers As Political Concerns Ease
EUR/USD was falling at the start of the Wednesday’s trading session, but managed to halt the decline, and is now rallying. The reason for the rally was the fact that fears associated with the political turmoil in Italy waned. Instead, there were hopes for a new government that will not be biased against the euro. Meanwhile, macroeconomic reports released in the United States over the trading session missed forecasts, adding to the upward momentum of the currency pair. […]
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May 302018
EUR/USD Recovers As Political Concerns Ease
EUR/USD was falling at the start of the Wednesday’s trading session, but managed to halt the decline, and is now rallying. The reason for the rally was the fact that fears associated with the political turmoil in Italy waned. Instead, there were hopes for a new government that will not be biased against the euro. Meanwhile, macroeconomic reports released in the United States over the trading session missed forecasts, adding to the upward momentum of the currency pair. […]
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May 302018
Euro Rallies Higher on Upbeat German Retail Sales Data
The euro today rallied higher against the US dollar following the release of upbeat German retail sales data in the early European session. However, the euro was still weighed down by the political uncertainty in Italy and the high Italian 2-year bond yields, which rose above 2.5%. The EUR/USD currency pair rallied from a low of 1.1518 to a high of 1.1620 following the upbeat German data. The currency pair began rallying higher in the late Asian […]
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May 302018
Swiss Franc Tries to Hold Ground, Weighed by Poor Macroeconomic Data
The Swiss franc was trying to hold its ground today and managed to do so against some of its rivals. It was made complicated by lackluster domestic macroeconomic data and the improving market sentiment. The KOF Economic Barometer fell from 103.3 in April (negatively revised from 105.3) to exactly 100.0 in May instead of rising to 104.6 as analysts had promised. That was the lowest reading since December 2015. The report commented […]
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