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Day: May 31, 2018
May 312018
EUR/USD Volatile amid Geopolitical Uncertainty
EUR/USD was rather volatile today, attempting to rally intraday but trading near opening level now, as traders were digesting news about political turmoil in Europe and reports that the United States will implement the postponed tariffs on goods from its closest allies as the exemption from the duties will expire tonight. Most US macroeconomic reports released over the trading session were good, with the exception of pending home […]
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May 312018
EURUSD Unfazed by Rising Inflation Amid Uncertainty Over Italian and Spanish Politics
Euro Analysis and Talking Points EURUSD saw a muted reaction following the release of the better than expected Eurozone CPI report. Focus remains on Italian and Spanish Politics For a more in-depth analysis on the EUR, check out the Q2 Forecast for EUR Eurozone Inflation boosted by higher energy prices Euro-Area consumer price inflation rose […]
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May 312018
Further EURUSD Losses Likely to be Limited as Political Concerns Fade
EURUSD analysis and talking points: – EURUSD has been hit hard by political turmoil in Italy and Spain, as well as possible US tariffs on EU steel and aluminum. – However, after the initial adjustment lower, a period of relative stability is likely as markets tend to settle after an initial strong move downwards. Check […]
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May 312018
USD Gains Moderate as Rate Expectations Decline, Eyes on PCE and NFP
USD Analysis and Talking Points USD Slips as the Prospect of 4 2018 Rate Hikes Decline US Data Remains Key for Monetary Policy Outlook, While Concerns Rise Over Trade Wars For a more in-depth analysis on the USD, check out the Q2 Forecast for USD USD Slips as the Prospect of 4 2018 Rate Hikes […]
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May 312018
US AM Digest: CAD Gains Fade on Soft GDP, Trade Concerns Rise as US Look to Impose Tariffs
US Market Snapshot via IG: DJIA 0.03%, Nasdaq 100 0.17%, S&P 500 0.05% Major Headlines Eurozone Inflation surges to 1.9% (Exp. 1.6%) on higher energy prices US PCE Holds at FOMC’s 2% target US Set to Impose Tariffs on EU, Canada and Mexico EUR: Another morning of Euro buying as Italy’s League and 5 Star […]
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May 312018
Gold Price Grapples with Down Trend; Eyes US Jobs, Wages Data
Gold Price News and Analysis – Gold stuck on the down trend as political jitters calm. – Friday’s US data calendar, including non-farm payrolls, may spark a move. The new DailyFX Q2 Gold Forecast is now available to help traders navigate the market. The latest IG Retail Sentiment Indicatorshows that traders are 79.4% net-long of […]
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May 312018
US Dollar Stable as Trump Administration Greenlights Tariffs
Talking Points: – The Trump administration has decided that trade negotiations have proven fruitless and will go ahead with imposing tariffs on imported aluminum and steel from Canada, Mexico, and the EU. – The imposition of tariffs will begin June 1; NAFTA negotiations are ongoing and exemptions for key trade partners could still be made […]
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May 312018
Pound Shows Weakness Despite Supportive Domestic Data
The Great Britain pound attempted to rally today but failed. Currently, the sterling trades at the opening level against some rivals and fell far below it versus others. Thursday’s macroeconomic data was generally positive, but that did not help the currency. The GfK UK Consumer Confidence improved from -9 in April to -7 in May, beating analysts’ expectations. The Nationwide House Price Index was the only outright negative […]
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May 312018
Dollar Soft as USA Prepares to Implement Tariffs on Allies
The US dollar was rather soft today, falling against its most-traded rivals, though it has managed to pare losses versus some of its peers by now. The major topic for today was expiration of the tariff exemption for the closest US allies. Back in March, US President Donald Trump announced tariffs on steel and aluminum imports but made an exemption for the key trading partners, including Canada, Mexico, and the European Union. The exemption […]
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May 312018
Canadian Dollar Drops Against US Dollar on Weak Canadian GDP Data
The Canadian dollar today crashed to new lows against the US dollar following the release of disappointing Canadian Q1 GDP data in the early American session. The loonie’s fall triggered a rally in the USD/CAD currency pair as investors dumped the commodity-linked loonie in favor of the greenback. The USD/CAD currency pair today rallied from a low of 1.2815 to a high of 1.2984 following the Canadian and US releases. The currency pair was on a downtrend from the start of today’s session to the mid-European […]
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