Forex News

Greenback Strengthens on Narrowed Current Account Deficit

  Support for a rate hike by the ECB council member Ewald Nowotny and victory of pro-EU candidate Mark Rutte in the Dutch election propelled the Euro against the Greenback, last week. The failure of Trump to repeal Obamacare also

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Strong Inflation, Retail Sales Keep the Pound Bullish

  The Pound has gained a lot of ground against most of the major currencies in the past three months. However, unlike the forecast of pessimists, there is no let down in the momentum. There are two main factors which

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UK-US Yield Spread Recovery Signals Uptrend in Pound

  A tough stand taken by the EU against the UK, in the Brexit issue, resulted in Pound’s decline against the major currencies in early March. Lower than anticipated manufacturing and services PMI in the UK and overwhelmingly positive building

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ECB Member’s Support for Rate Hike Keeps Euro Strong

  On the basis of encouraging inflation and PPI data from the European Union, we had forecasted the possibility of a strong Euro dollar rally on March 6th. Additionally, we had also suggested taking a long position in the EURUSD

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Aussie Turns Weak on Gloomy Iron Ore Price Forecast

  The uptrend in the price of coking coal and better than anticipated job additions turned the Aussie bullish against the Canadian dollar, which is under pressure from the sharp drop in the price of crude oil. The Reserve Bank

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Pound Signals Uptrend on Rise in GDP Growth Forecast

  A dip in the business investment and manufacturing PMI caused the Pound to spiral downwards last week. On the contrary, strong manufacturing PMI enabled the Swiss Franc to strengthen against the Pound and other rival currencies. The rising support

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Pound Weakens on Five Month Low Service PMI Data

  On the basis of poor retail sales in the UK and the increasing demand for safe haven assets, on February 22nd, we had recommended going short in the GBPJPY pair at 142.20, with a profit target of 139.20. To

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Lead for Macron, Strong PPI Data Turns Euro Bullish

  The surprisingly hawkish stance of the New York Federal Reserve President William Dudley and San Francisco Fed president John Williams pushed the US dollar into a higher orbit against its arch rival – the Euro – on Wednesday last

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Tourism Boom Keeps Kiwi Dollar Strong

  Earlier this month, the New Zealand dollar fell sharply against its rivals when the Reserve Bank of New Zealand kept the interest rate steady at 1.75% and stated that the monetary policy would remain accommodative for the foreseen period.

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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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