Tag Archives: currency update

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Forex- Weak Euro Bolsters U.S. Dollar

Investing.com – The dollar rose against a basket of currencies on Wed because the monetary unit fell from a 3 year high.

The U.S. dollar index, that measures the greenback’s strength against a trade-weighted basket of six major currencies, up 0.19% to 90.40 as of 11:35 AM ET (16:35 GMT) when plumbing a 3 year low of eighty nine.98 nightlong. it had been bolstered by a lower monetary unit.

EUR/USD was down zero.21% to 1.2235 when rising as high as one.2323 nightlong, that was the strongest level since Gregorian calendar month 2014.

The monetary unit rose amid expectations that the eu financial institution can begin to unwind its huge financial input program this year.

The monetary unit declined when policymaker Ewald Nowotny that the euro’s recent strength against the U.S. dollar is “not useful,” reflective unease among officers over the currency’s robust gains.

The dollar has been pressured lower by the read that the world economic recovery can outdo U.S. growth and prompt alternative major central banks, together with the ECB to start unreeling loose financial policy at a quicker pace.

Against the yen the dollar was higher, with USD/JPY rising zero.32% to 110.81, actuation far from the four-month low of a hundred and ten.18 reached nightlong.

Elsewhere, sterling gained zero.25%, with GBP/USD at one.3828. The Australian and New Sjaelland bucks were conjointly up against the buck, with AUD/USD up zero.23% to 0.7978 and NZD/USD increasing zero.26% to 0.7287.

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Demand For USD Remains High

Last week, the USA dollar rose against the key currencies. Support was provided by optimistic economic reports and growth within the US Government bonds yield. Prospects for tax overhaul additionally support the demand for USA currency. The senate approved a draft allow 2018, which is able to enable Republicans to hold out reform while not the support of Democrats. At the instant, the likelihood of skyrocketing the vary of the Fed’s key rate in Dec 2017 exceeds ninetieth.
On Friday, the {canadian dollar|Canadian dollar|dollar} weakened sharply against the USA dollar. the expansion of USD/CAD quotations exceeded a hundred and fifty points. this can be owing to the discharge of weak economic reports. In Sep, the patron indicant was zero.2%, that is a smaller amount than the forecasted worth of zero.3%. In August, retail sales in North American country declined by zero.3%. specialists expected the expansion rate of zero.5%.
On Sunday, parliamentary elections came about in Japan. The Prime Minister Shinzo Abe’s ruling coalition with confidence won elections. Japan can adhere to stimulating the financial policy.
Prices of “black gold” still show positive dynamics. Support is provided by a discount in drilling activity within the us. At the instant, futures for the WTI rock oil square measure being listed on top of $52 per barrel.
Market Indicators
On Friday, the key USA stock indexes once more updated historical highs. SPY (SPDR S&P five hundred ETF (NYSE:SPY)) closed at $257.11 (+0.52%).
At the instant, the U.S. 10-Year government bonds yield is testing native highs. The indicator is at the amount of two.38-2.39%.
Today, the news background is very calm:
– The index of business orders within the GB at 13:00 (GMT+3:00);
– the amount of wholesale sales in North American country at 15:30 (GMT+3:00).
Demand For USD Remains High

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Forex – Dollar Little Changed Vs. Rivals in Quiet Trade

The greenback was very little modified close to 10-week highs against alternative major counterparts in quiet trade on Monday, as hopes for a December rate hike by the central bank still Lententide support to the dollar, whereas political science considerations weighed.
Trading volumes were expected to stay skinny with U.S. markets closed for legal holiday.
The dollar remained supported because the wage information from Friday’s U.S. jobs report was seen as doubtless boosting inflation.
The U.S. economy lost thirty three,000 jobs in Sept, the DoL reportable, ending seven straight years of job growth. however the decline was driven by slower hiring as a result of the consequences of Hurricanes Irma and scientist.
The per centum fell to four.2%, all-time low since two001 and average hourly earnings rose 2.9% from a year earlier.
The transaction in wage inflation bolstered expectations that the central bank can hike interest rates in December.
The yen control steady, with USD/JPY at 112.63, whereas USD/CHF slipped zero.20% to trade at zero.9778.
Safe-haven demand gently strengthed following reports North Korea is getting ready to check a long-range missile that it’s believed might reach the west price of the U.S.
Elsewhere, EUR/USD was very little modified at one.1740, simply off Friday’s seven-week trough of one.1668 amid sustained political tensions in European nation.
Hundreds of thousands of protesters gathered in Catalonia’s capital city over the weekend to protest against the native independence movement.
GBP/USD gained zero.47% to trade at one.3128, propulsion aloof from Friday’s four-week low of one.3027 sooner than a fifth spherical of Brexit talks between the united kingdom and also the EU in Bruxelles in the week.
The talks are going down amid growing considerations over a attainable leadership battle within the United Kingdom of Great Britain and Northern Ireland following threats by a former Conservative Party chairman claiming the support of thirty lawmakers to topple British Prime Minister missioner might.
The Australian and New island bucks were lower, with AUD/USD down zero.17% to 0.7753 and with NZD/USD shedding zero.18% to 0.7076.
Meanwhile, USD/CAD edged up zero.08% to 1.2539, shortly from Friday’s one-month peak of one.2599.
The U.S. greenback index, that measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at ninety three.56 by 05:25 a.m. ET (09:25 GMT), still near Friday’s 10-week highs of ninety four.10.

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Forex – USD/CAD Rises as Global Fears Continue to Ease

The U.S. greenback rose against its Canadian counterpart on Tuesday, as sentiment on the dollar improved when cyclone Irma looked as if it would have caused less injury than expected and within the absence of any new provocations from D.P.R.K..
USD/CAD gained zero.30% to trade at one.2150 by 09:30 a.m. ET (13:30 GMT), however was stilll at intervals shut distance of Friday’s 28-month low of one.2059.
Market participants had braced for added provocations from D.P.R.K. on September nine, because the State celebrated its innovation day. however capital of North Korea marked the day of remembrance while not more missile or nuclear tests.
In response to North Korea’s sixth nuclear take a look at, the U.N. SC voted nemine contradicente on Mon to improve sanctions on the solid ground. Its textile exports ar currently prohibited and fuel provides to capital of North Korea ar capped.
It was the ninth sanctions resolution nemine contradicente adopted by the protection Council since 2006 over North Korea’s missile and nuclear programs.
On the opposite hand, cyclone Irma continuing to hammer the South East of the U.S. on Tuesday, however it had been losing strength and was downgraded to a tropical storm.
About 7.3 million homes and businesses were while not power in American state, Georgia, South geographic region and Alabama, in step with state officers and utilities on Mon.
The commodity-related Canadian dollar found some support but, as oil costs bounced back prior to coming reports on U.S. stockpiles due later Tuesday and on Wed.
The loonie was lower against the monetary unit, with EUR/CAD adding zero.19% to 1.4506.

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Forex – USD/CAD bounces off 1-1/2 lows after U.S., Canadian data

The U.S. dollar edged higher against its Canadian counterpart on Th, bouncing off a quite one-week trough when the discharge of sturdy U.S. data, whereas lower oil costs and a unsatisfying economic report from North American nation weighed on the native currency.

USD/CAD hit one.2647 throughout early U.S. trade, the session high; the try later consolidated at one.2636, adding 0.14%.
The try was seemingly to seek out support at one.2553, the low of August four and resistance at one.2771, Wednesday’s high.
The buck strong when the U.S. Department of Labor rumored on Th that the amount of individuals UN agency filed for state help within the U.S. last week fell quite expected.
A separate report showed that producing activity within the city region declined but expected this month.
On a less positive note, the FRS aforementioned that industrial production exaggerated by zero.2% from the previous month, below expectations for a zero.3% rise
The dollar had weakened when the minutes of the Fed’s July policy meeting discharged on weekday showed that members of the financial organisation stay divided over the necessity to lift interest rates any this year, citing low inflation.
Markets were additionally restive when U.S. President Donald Trump disbanded 2 high-profile business informative councils, sparking considerations over the administration’s ability to implement his economic reforms.

The move came when many chief executives quit in protest over his remarks blaming weekend violence in Virginia not solely on white nationalists however additionally on anti-racism activists UN agency opposed them.
In Canada, information showed that producing sales born one.8% in June, compared to expectations for a decline of one.0%.
Manufacturing sales exaggerated by one.3% in May, whose figure was revised from a antecedently calculable one.1% gain.
The commodity-related dollar was additionally stricken by a visit fossil oil costs, that were hovering at a quite three-week trough amid considerations over rising U.S. production.
The loonie was higher against the monetary unit, with EUR/CAD declining zero.34% to 1.4799.

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Forex – USD/CAD pares gains amid higher oil prices

The U.S. dollar pared gains against its Canadian counterpart on weekday, as higher oil costs season support to Canadian dollar, although trading volumes were expected to be thin with Canadian markets closed for Canada Day and ahead of Independence Day in the U.S. on Tuesday.
USD/CAD pulled back from 1.2995, the pair’s highest since Friday, to hit 1.2978 during early U.S. trade, still up 0.13%.
The pair was likely to find support at 1.2945, Friday’s low and a ten-month trough and resistance at 1.3014, Friday’s high.
The commodity-related Canadian dollar benefited from a continued rise in oil prices on Monday, after data last week pointed to a decline in U.S. output.
Meanwhile, sentiment on the greenback remained vulnerable amid growing expectations for tighter monetary policy from major central banks.
In comments last week the heads of the European Central Bank, the Bank of England and the Bank of Canada adopted a more hawkish view on monetary policy, indicating that they were getting ready to join the Federal Reserve in policy tightening.
Hawkish signals from foreign central banks contrasted with doubts over whether the Fed will be able to hike rates again this year given a recent batch of weak U.S. economic knowledge and growing skepticism that the Trump administration can be in a position to deliver on its pro-growth agenda.
The loonie was higher against the monetary unit, with EUR/CAD declining zero.47% to 1.4741.

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USD/CAD moves higher in early trade

The U.S. dollar affected higher gains against its Canadian counterpart on Wed, as investors expected the discharge of U.S. housing sector knowledge later within the day, though a rebound in oil costs Lent some support to the commodity-heavy Canadian currency.

USD/CAD hit one.3304 throughout early U.S. trade; the combine afterward consolidated at one.3298, up 0.23%.
The combine was seemingly to search out support at one.3204, Tuesday’s low and resistance at one.3326, the high of Gregorian calendar month thirteen.
The U.S. dollar found some support following hawkish remarks created on Monday by ny Fed president William Dudley, United Nations agency strengthened expectations for the Fed to stay raising interest rates.
However, Chicago Fed president Charles Evans did deliver a additional peaceful outlook when the market shut on Monday, suggesting that it’s going to be worthy for the U.S. financial organization to attend till year-end to make a decision whether or not to boost rates once more.
Meanwhile, the dollar benefited from a rebound in oil costs on Wed, prior to the weekly report on U.S. crude oil inventories.
The loonie was lower against the monetary unit, with EUR/CAD rising zero.27% to 1.4811.

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Usd/inr: Latest News on Usd/inr, Usd/inr Updates

USD-INR commercialism vary for the day is sixty four.50- 64.80/dollar, says Mohan Shenoi of Kotak Mahindra Bank.

The Indian monetary unit slipped within the early trade on Th. it’s opened lower by eight paise at sixty four.66 per greenback versus sixty four.58 Wednesday.

Mohan Shenoi of Kotak Mahindra Bank aforementioned, “Rupee is vary sure, consolidating once sharp gains in March. USD-INR commercialism vary for the day is sixty four.50- 64.80/dollar.”

The greenback rose, on a daily basis once dropping to a 3-week low, however gave up some gains once a report from the FRS steered the outlook for the United States of America economy is not as rosy because it was earlier within the year.

The pound stirred lower on reversing a number of its gains from earlier within the week, as nun could wins approval to carry associate early election on June eight.

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