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Day: June 26, 2019
June 262019
Mexican Peso Gains on US Dollar Ahead of Central Bank’s Meeting
The Mexican peso gained on the US dollar today ahead of tomorrow’s monetary policy meeting of Mexico’s central bank. The Bank of Mexico will announce its monetary policy decision tomorrow. Analysts expect it to keep the benchmark interest rate unchanged at 8.25%. That means focus will be on whether the bank’s statement remains as hawkish as before. USD/MXN dropped from 19.2267 to 19.1232 as of 21:44 GMT today. If you have any questions, […]
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June 262019
US Dollar Mixed Under Influence of Various Fundamentals
The US dollar was mixed today, falling versus commodity currencies, but staying flat or gaining versus majors. There were plenty of various fundamentals that were affecting the greenback. Yesterday, Federal Reserve officials made comments, which suggested that the Fed does not plan to ease its monetary policy aggressively. St. Louis Federal Reserve Bank President James Bullard dismissed the idea of a 50 basis point […]
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June 262019
Canadian Dollar Strengthens on Wholesale Data, Energy Prices
The Canadian dollar is strengthening midweek as wholesalers recorded their fastest two-month gain in about four years and crude oil prices continued their bullish ways. The loonieâs gains were capped on the accelerating diplomatic and economic fallout between Canada and China. According to Statistics Canada, wholesale sales climbed 1.7% in April, up from 1.4% in March. This represents the fifth consecutive month of gains and is the best monthly increase in three […]
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June 262019
Euro Trades Sideways as US Fed Dashes Rate Cut Expectations
The euro today traded mostly sideways with a bearish tilt as markets digested the less dovish message issued by Jerome Powell the US Fed Chairman during his speech yesterday. The EUR/USD currency pair traded in a tight range amid a lack of any major macro releases from the European docket. The EUR/USD currency pair today traded in a range marked by a low of 1.1346 and a high of 1.1382 and was near these highs at the time of writing. […]
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June 262019
Franc Vulnerable Due to Escalating Conflict Between Switzerland & EU
The Swiss franc was generally weak today (though managed to gain on the Japanese yen) as the conflict between the European Union and Switzerland intensified. The conflict between the EU and Switzerland escalated as Switzerland is planning to ban Swiss shares from EU exchanges. That is retaliation to EU’s threat to end its stock market equivalence to Switzerland. And the reason for all that mess is the agreement that should provide Switzerland access to EU’s single […]
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June 262019
NZ Dollar Rallies After RBNZ Talks About Interest Rate Cut
The New Zealand dollar dropped initially after the Reserve Bank of New Zealand made a monetary policy announcement today, hinting at possibility of an interest rate cut in the future. But the currency rebounded almost immediately and is trading now far above the opening level. The RBNZ left its main interest rate unchanged at 1.5% today, as was widely expected. But the central bank signaled in the statement that it may yet cut […]
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June 262019
AUD/USD Hits a Turning Point at 0.6858
The Australian dollar versus the US dollar currency pair looked as if it was determined to pierce the 0.6858 major support, but it changed course instead. The question is now whether or not this confirmation was decisive for the medium-term evolution. Long-term perspective Beginning with the confirmation as a support of 0.7055 on October 8, 2018, the bearish movement was stalled. After a first failed attempt to break the support area of 0.7055 and 0.7013 […]
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June 262019
EUR/USD Moves Sideways on Wednesday
EUR/USD was moving sideways today amid somewhat directionless trading. On one hand, the market sentiment was lifted by comments from Treasury Secretary Steven Mnuchin that suggested the United States and China are close to reaching a trade deal. On the other, the dollar got boost from comments of Fed officials yesterday. St. Louis Federal Reserve Bank President James Bullard dismissed the idea of a 50 basis point interest rate […]
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