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Day: June 6, 2018
June 62018
EUR/USD Rallies After Hawkish Comments from ECB Officials
EUR/USD rallied today after European Central Bank chief economist Peter Praet said that the next week’s policy meeting will be a “judgment” call for the quantitative easing program. Some experts interpreted the words as a sign that the ECB will decide next week the date of a QE end sometime later this year. That allowed the currency pair to gain despite positive US economic data. Nonfarm productivity rose […]
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June 62018
Japanese Yen Down on Disappointing Data, ECB Speculations
The Japanese yen posted losses against its major rivals during the Wednesday’s trading session, dragged down by poor domestic macroeconomic data and the positive market sentiment. Japan’s Ministry of Health, Labour and Welfare reported that average cash earnings rose 0.8% in April from a year ago. That was a noticeably slower rate of growth than 1.4% predicted by analysts. Looking forward, traders wait for Friday’s GDP report. Economists […]
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June 62018
FTSE 100 Struggles to Break Higher; GBP Fortified by Data
FTSE 100 and GBP News and Talking Points – A new FTSE 100 high may prove difficult in the near-term. – Sterling continues to build a base, aided by better-than-expected data prints. The IG Client Sentiment Report shows that traders are just 35% long of the FTSE 100. We typically take a contrarian view to […]
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June 62018
Trade Conflict at G7 Summit May Rub Salt Into USD Wounds
USD analysis and talking points: – The G7 summit that begins in Canada on Friday is certain to be dominated by fears of a trade war. – That could weaken the US Dollar further after its declines over the past few sessions. Check out the IG Client Sentiment data to help you trade profitably. And […]
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June 62018
EURUSD Rises as the ECB Look to Debate QE Exit
EURUSD Analysis and Talking Points Euro finds support as ECB look set to discuss QE exit at next week’s monetary policy meeting Short covering could see further gains for EURUSD in run up to June 14th See our Q2 EUR forecast to learn what will drive the currency through the quarter. ECB Taper Talk Supports […]
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June 62018
Cryptocurrencies: Trading Ranges Holding; Google Searches Slump | Webinar
Cryptocurrency News and Talking Points – Google trend searches for a range of cryptocurrencies have fallen off a cliff. – Charts show support levels holding sway and prices drifting higher. 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 […]
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June 62018
US AM Digest: EUR up on ECB Taper Talk, AUD Lifted by Firm GDP
US Market Snapshot via IG: DJIA 0.5%, Nasdaq 100 0.3%, S&P 500 0.3% Major Headlines ECB Governors confirm that the ECB will discuss QE exit next week Australian Q1 GDP beats expectations (3.1% vs. Exp. 2.8%) US and Canadian Trade Deficit narrows. AUD: The Australian Dollar is on the front foot this morning following a […]
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June 62018
EUR/USD Rallies After Hawkish Comments from ECB Officials
EUR/USD rallied today after European Central Bank chief economist Peter Praet said that the next week’s policy meeting will be a “judgment” call for the quantitative easing program. Some experts interpreted the words as a sign that the ECB will decide next week the date of a QE end sometime later this year. That allowed the currency pair to gain despite positive US economic data. Nonfarm productivity rose […]
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June 62018
Accelerating Inflation Unable to Boost Swiss Franc
The Swiss franc was extremely weak today despite the better-than-expected inflation data released in Switzerland over the current trading session. The Swiss Federal Statistics Office reported that the Consumer Price Index rose 0.4% in May from the previous month, accelerating from April’s 0.2% and beating the median forecast of 0.3%. Year-on-year, the index was up 1.0%. Some analysts said that the market sentiment was positive overnight, and that may […]
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June 62018
Euro Rallies Higher As ECB Considers Ending Its QE Program
The euro today rallied higher against the US dollar after it was confirmed that the European Central Bank was considering ending its massive quantitative easing program. The news confirmed a report that was circulating on Tuesday about the possibility of such action by the ECB. The EUR/USD currency pair today rallied by over 65 points from a low of 1.1712 to a high of 1.1780 after the ECB news broke. The currency pair’s rally […]
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