Dollar Ends Week with Gains, Supported by Yellen

Normal 0 false false false EN-US X-NONE X-NONE ...

Read More

Yen Suffers from Fischer’s Comments

Riskier currencies reacted negatively to the comments that Fed Vice Chairman Stanley Fischer made on Sunday, but safer ones, like the Japanese yen, were also not immune to the impact. As many other currencies, the yen opened sharply lower against the US dollar, though also versus other most-traded rivals. The tightening stance of the Federal Reserve is in sharp contrast to the easing...

Read More

Week Ends with Losses for US Dollar as Policy Outlook Mixed

The US dollar continued to be driven mostly by monetary policy outlook during the past trading week. Unfortunately for the currency, the outlook was not particularly supportive, though it has changed a bit by the weekend. The dollar was rather soft for the most part of the week as most market participants remained skeptical about chances for the Federal Reserve...

Read More

Canadian Dollar Little Changed After Thursday’s Rally

The Canadian dollar was little changed at the start of the Friday’s trading session after rallying against the US dollar and the Japanese yen on Thursday. The rally was caused by the rise of crude oil prices. The Canadian currency continues to follow moves of crude oil. Fortunately for the loonie, oil prices were moving up on Thursday, lifting the currency along with the them. Crude was rising on speculations about possible output cap by major...

Read More

Dollar Still Feels Weight of FOMC Minutes

The US dollar continued to feel pressure from yesterday’s FOMC policy minutes today, falling against other major currencies. Thus, EUR/USD continued to move higher. While the rally of the currency pairwas very limited yesterday, it is rather strong today. Positive economic indicators released from the United States on Thursday failed to support the greenback. Philadelphia Fed manufacturing index rose...

Read More

Aussie Dollar Drops After Bond Sale, Euro at Risk on German GDP

The Australian Dollar underperformed in overnight trade, falling after the results of a 7-year government bond auction crossed the wires. The bid-to-cover ratio registered at 2.39 and the average yield posted at 1.71 percent, down from 3.00 and 1.73 percent recorded the last time analogous paper was sold in late July. The results point to reduced demand and weaker rate expectations, which may imply bets on further RBA easing...

Read More

Gold Prices Attempt Recovery, Crude Oil Eyes EIA Inventory Data

Gold prices maintained a consolidative tone after plunging on Friday in the wake of a better-than-expected US jobs report. The metal is attempting to launch a recovery overnight, finding support in broad-based US Dollar weakness – but a lull in top-tier event risk to offer tangible support for follow-through raises questions about the move’s near-term sustainability. Crude oil prices failed to maintain near-term follow-through...

Read More

US Dollar Under Fire, NZ Dollar Extends Gains into RBNZ Meeting

The US Dollar faced selling pressure in overnight trade as US bonds advanced, pushing rates lower and undermining yield support for the benchmark currency. Fixed income demand appeared to stem from haven demand, with rising bond prices mirroring a drop in S&P 500 futures. Tellingly, the anti-risk Japanese Yenoutperformed among the G10 FX majors. The British Pound corrected higher having slumped following dovish...

Read More

British Pound Unmoved on Best BRC Retail Sales Data in 6 Months

The British Pound showed a reserved response against its major counterparts after British Retail Consortium Sales crossed the wires. The data was released less than one week after a highly anticipated Bank of England rate decision. In this monetary policy announcement, the central bank appears to have downplayed the threat of a near term recession due to their newly enacted accommodative measures. In July, BRC sales increased 1.1 percent (YoY) versus -0.7 percent expected and -0.5 percent in June. Meanwhile, total sales improved 1.9...

Read More

Crude Oil Prices Eyeing API Inventory Data After OPEC-Linked Jump

Crude oil prices rebounded to a two-week high after OPEC President Mohammed Al Sada said the cartel will hold an informal meeting in Algiers next month. The comments fueled hopes for output-side relief after the WTI contract fell to a four-month low last week. Gold prices are in digestion mode after Friday’s sharp decline – the largest in three months – following a dramatically better-than-expected US jobs report. The outcome bolstered Fed...

Read More