Tag: Currency

Upbeat Powell sends gold to 16-month low

Gold has steadied in the Wednesday session after posting sharp losses on Tuesday. In North American trade, the spot price for one ounce of gold is $1226.78, down 0.08% on the day. On the release front, U.S housing numbers were softer than expected. Building Permits dropped to 1.27 million, shy of the estimate of 1.33 million. […]

GBP/USD – British pound slips to 10-month low as CPI misses mark

The British pound continues to lose ground and has dropped perilously close to the symbolic 1.30 line. In Wednesday’s North American session, the pair is trading at 1.3044, down 0.53% on the day. On the release front, British CPI remained steady at 2.4%, missing the estimate of 2.6%. U.S housing numbers were softer than expected. […]

USD/CAD – Canadian dollar dips, investors eye US housing numbers

The Canadian dollar continues to have a quiet week. In the Wednesday session, USD/CAD is trading at 1.3238, up 0.37% on the day. In economic news, there are no Canadian events. In the U.S, markets are expecting mixed construction numbers – Building Permits are expected to climb to 1.33 million, while Housing Starts are forecast to […]

DAX climbs to 4-week high as Eurozone CPI rises to 2 percent

The DAX index has posted considerable gains in the Wednesday session. Currently, the DAX is at 12,750 up 0.71% on the day. On the release front, there are no major German or eurozone events. A milestone was reached on Thursday, as Eurozone Final CPI reached the 2.0% threshold in the June release. On an annualized […]

EUR/USD – Euro dips to 2-week low, Eurozone CPI hits 2 percent

EUR/USD is lower in the Wednesday session, following the downward trend which was seen on Tuesday. Currently, the pair is trading at 1.1619, down 0.37% on the day. The pair is currently at its lowest level since July 2. On the release front, Eurozone Final CPI edged up to 2.0%, matching the estimate. Final Core […]

USD/JPY advances to six month high post-testimony

Economy faces years of strong jobs growth in a low inflation environment The dollar continued to push higher in Asian trading, building on gains made in the previous session after Fed Chairman Powell’s described the US economy as in a good place during his semi-annual testimony before the Senate Banking Committee. He said he sees […]

Dollar Stronger on Safe Haven Flows OANDA Market Beat Podcast

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes. Subscription available on iTunes https://goo.gl/TZEWRW and GooglePlay https://goo.gl/cRBk39. Tune in every Tuesday and don’t miss a beat as we cover the hottest trends impacting the markets in the week […]

Gold slips to 13-month low, Powell testimony next

Gold has posted sharp losses in the Tuesday session. In North American trade, the spot price for one ounce of gold is $1231.77, down 0.20% on the day. On the release front, Industrial Production rebounded in June with a gain of 0.6%, after a decline of 0.1% in May. Later in the day, the U.S […]

USD/CAD – Canadian dollar trading sideways ahead of key manufacturing report

The Canadian dollar continues to have a quiet week. In the Tuesday session, USD/CAD is trading at 1.3145, up 0.07% on the day. In economic news, Canada releases Manufacturing Sales, coming off a weak reading of -1.3% in May. In the U.S, there are no major events. Federal Reserve Chair Jerome Powell testifies before the Senate […]

Monday blues or Dog days of summer

Monday blues or Dog days of summer Whether a case of the Monday blues, the Dog Days of summer setting in or a combination of both, markets struggled for direction despite upbeat US economic data while quarterly earnings have failed to inspire investors. And we might chalk it up to a typical summer afternoon NY […]