Tag: Currency

Mario Draghi , the master of the dark art of central bank communiqué

Mario Draghi, the master of the dark art of central bank  communiqué After last week’s dramatic price action dubbed “the biggest week of the year” we have another potpourri of events to side-track from the World Cup games this week. There’s more than enough risk events to keep things exciting with a plethora of central […]

Dollar Higher After Fed Hike and Dovish ECB

The US dollar gained against all major pairs this week. A hawkish Fed and a dovish European Central Bank (ECB) gave the edge to the American currency. Donald Trump scored diplomacy points in Singapore by meeting with North Korean leader Kim. Trade war fears were once again at the forefront as the Trump administration announced […]

USD/CAD – Canadian dollar slides to 1-year low as Trump Prepares China Tariffs

The Canadian dollar continues to lose ground in the Friday session, after strong gains on Thursday. Currently, USD/CAD is trading at 1.3129, up 0.18% on the day. Earlier in the day, the Canadian currency dropped to its lowest level since June 2017. On the release front, Canadian Manufacturing Sales is expected to fall to 0.6%. […]

European stock markets soar as ECB dampens hopes of rate hike

The DAX index has steadied on Friday, after posting sharp gains on Thursday. Currently, the DAX is at 13,104, down 0.04% on the day. On the release front, German WPI posted a strong gain of 0.8%, well above the estimate of 0.3%. In the eurozone, Final CPI rose to 1.9% and Final Flash CPI climbed to […]

DAX Dips as Investors Eye ECB Rate Annoucement

The DAX index has posted losses in the Thursday session. Currently, the DAX is at 12,849, down 0.32% since the close on  Wednesday. On the release front, German Final CPI climbed 0.5%, a 3-month high. This reading matched the forecast. Later in the day, the ECB winds up its policy meeting and will release a rate […]

EUR/USD – Euro Edges Higher Ahead of ECB Meeting

EUR/USD has posted slight gains in the Thursday session. Currently, the pair is trading at 1.1827, up 0.29% on the day. On the release front, German Final CPI climbed 0.5%, a 3-month high. This reading matched the forecast. Later in the day, the ECB winds up its policy meeting and will release a rate statement. […]

Hawkish Fed Boosts US Dollar But Tariffs Bring Currency Down to Earth

The US dollar is lower against major pairs after the U.S. Federal Reserve raised the benchmark Fed funds rate by 25 basis points on Wednesday. The move was heavily anticipated by the market, but the strong pace of the US economy could mean more rate hikes. The latest projections from the US central bank now […]

Gold Steady as Federal Reserve in Focus

Gold has posted small gains in the Wednesday session. In North American trade, the spot price for one ounce of gold is $1297.73, up 0.13% on the day. On the release front, the Federal Reserve is expected to raise interest rates to a range between 1.75% and 2.00%. On the inflation front, there was positive […]

GBP/USD – British pound steady as CPI matches forecast

The British pound continues to have an uneventful week. In Wednesday’s North American trade, GBP/USD is trading at 1.3378, up 0.04% on the day. On the release front, British CPI remained pegged at 2.4% for a second straight month and matched the forecast. Another key inflation indicator, PPI Input, jumped 2.8%, crushing the estimate of […]

Trump Blames OPEC for High Oil Prices

U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran. Trump sparked the latest back-and-forth when he renewed his attack on OPEC in […]