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Day: October 29, 2018
October 292018
Pound Trades Sideways on BoE Credit Data Ahead of Budget Speech
The British pound today traded in a tight range against the US dollar on the latest BoE credit data even as investors await the autumn UK budget speech later today. The pound’s slight rally was supported by the improved risk sentiment among investors, which supported the cable and prevented it from falling further. The GBP/USD currency pair today traded between a high of 1.2853 and a low of 1.2805 and was stable for most of the session. The currency […]
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October 292018
Canadian Dollar Weakens As BOC Rate Hike Buzz Fades
The Canadian dollar is trading slightly lower on Monday as the buzz from the Bank of Canada (BOC)âs recent increase to interest rates has ostensibly faded. Investors will comb through various reports and forecasts pertaining to the national economy in both the short- and long-term until important data is published. It did not help with energy prices tumbling to start the trading week. Last week, the central bank raised rates by 25 […]
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October 292018
Euro Mixed After Announcement from Angela Merkel
The euro was mixed today after German Chancellor Angela Merkel announced that she will not seek re-election as her party’s leader. Markets were not particularly pleased with the announcement. Merkel announced that she will not run for the seat of the chief of her Christian Democratic Union or for any other political office for that matter. This decision was likely a result of the poor performance of the governing coalition in the regional […]
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