Forex News

Greenback Up on Strong Housing, Low Jobless Claim Data

  Higher than expected inflation rate in January and Q4 GDP growth of 2.9% (versus estimates of 1.8%) strengthened the Singapore dollar against the Greenback in mid-February. Lack of sufficient hawkishness at the US Fed also acted as a catalyst

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Pound Weakens as EU Prioritises Exit Bill Negotiations

  Considering the weak lending data announced by the Bank of England and soft retail spending in December, we had recommended taking a short position at 142.50 levels in the GBPJPY pair on February 1st, with a target price of

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Greenback Strengthens on Strong Building Permit Data

  Soft wage growth, marginally higher-than-anticipated unemployment rate, and decline in the UoM (University of Michigan) consumer sentiment reading (preliminary) weakened the US dollar against the Russian Ruble in early February. The USDRUB pair’s downtrend was also aided by a

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Yen Signals Weakness on Soft Preliminary GDP Growth

  The news of an increase in support for the anti-EU leader Marine Le Pen in the latest French election survey heightened concerns of political uncertainty in the EU. This encouraged speculators to go short in the Euro dollar, while

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Aussie Signals Downtrend on Poor Retail Home Loan Data

  After recording a low of 85.17 on February 7th, the AUDJPY pair made a sharp bullish reversal to hit 87.12 on Friday. The main reason for the Aussie to strengthen was the increase in the price of iron ore

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Political Uncertainty Keeps the Euro Dollar Weak

  Lower-than-anticipated wage growth coupled with marginally higher-than-expected unemployment rate triggered a US dollar selloff earlier this week. One of the currencies which strengthened against the Greenback is the Euro dollar. Better than anticipated Producer Price Index (PPI) reading in

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Pound Signals Downtrend on BoE’s Soft Lending Data

  Higher inflation coupled with Theresa May’s inspiring speech in the UK Parliament ensured a rally in the Pound for the past two weeks. The Pound was also strengthened by a temporary weakness in the Greenback, triggered by a lack

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Soft Crude Price and High Inflation Rate Turns Ruble Weak

  The crude oil production cut agreement between OPEC and other oil producing countries, including Russia, strengthened the Ruble against the Greenback. The Ruble was one of those few currencies, which were able to resist the “Trump” rally that pushed

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Hint of Rate Cut by BOC Keeps Canadian Dollar Weak

  The weakness seen in the price of crude oil pushed the Canadian dollar lower against the Greenback and other major currencies. On the other hand, the Greenback continued to lose ground against the Japanese Yen following a two month

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Euro Signals Uptrend on Signs of Economic Recovery in EU

  The Euro was pushed lower against its rivals when Mario Draghi, the President of the ECB, announced an extension to the quantitative easing program in December 2016. One of the currencies which immediately strengthened following the announcement was the

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