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Tag: Currency

GBP/USD – British pound higher despite higher UK deficit

The British pound has steadied on Friday, after posting losses for most of the week. In the North American session, the pair is trading at 1.3067, up 0.42% on the day. On the release front, Britain’s debt widened to GBP 4.5 billion, higher than the estimate of GBP 3.6 billion. There are no U.S indicators on […]

USD/CAD – Canadian dollar steadies ahead of key consumer data

The Canadian dollar has posted slight gains in the Friday session. Currently, USD/CAD is trading at 1.3240, down 0.22% on the day. On the release front, the focus is on consumer indicators. CPI is expected to remain pegged at 0.1%, while retail sales are expected at 0.6%, which would be the first gain in 2018. […]

DAX trading sideways as investors look for cues

The DAX index is almost unchanged in the Friday session. Currently, the DAX is at 12,679, down 0.06% on the day. On the release front, German PPI dipped to 0.3%, matching the estimate. The eurozone current account surplus dropped sharply to 22.4 billion. This was well short of the forecast of 27.2 billion and the […]

EUR/USD – Euro trading sideways as German inflation matches forecast

EUR/USD almost unchanged in the Friday session. Currently, the pair is trading at 1.1645, up 0.05% on the day. On the release front, German PPI dipped to 0.3%, matching the estimate. The eurozone current account surplus dropped sharply to 22.4 billion. This was well short of the forecast of 27.2 billion and the lowest surplus […]

Yuan’s fall extends to a fourth straight day

PBOC weakens yuan by most in two years at daily fix China’s central bank weakened the yuan by the biggest single daily devaluation since June 2016. While the direction of spot USD/CNH could in some way be attributed to the rampant US dollar, there is some conjecture in the market that the devaluation is part […]

Gold slide resumes as jobless claims slide

Gold has resumed its losing ways in the Thursday session, after showing little change on Wednesday. In North American trade, the spot price for one ounce of gold is $1217.53, down 0.83% on the day. On the release front, manufacturing and employment data were better than expected. The Philly Fed Manufacturing Index climbed to 25.7, easily […]

USD/CAD – Canadian dollar slides on soft employment report

The Canadian dollar has posted considerable losses in the Thursday session. Currently, USD/CAD is trading at 1.3266, up 0.73% on the day. On the release front, Canadian ADP Nonfarm Employment Change plunged, posting a reading of -10.5 thousand. This was the first decline of 2018. In the U.S, manufacturing and employment data were better than expected. […]

DAX takes pause from recent gains

The DAX index has posted losses in the Thursday session. Currently, the DAX is at 12,715 down 0.39% on the day. Still, the DAX is in green territory this week, with gains of 1.4 percent. On the release front, there are no major German or eurozone events. On Friday, German PPI is expected to dip […]

EUR/USD – Euro dips below 1.16,

EUR/USD is lower in the Thursday session, following the downward trend which has marked much of the week. Currently, the pair is trading at 1.1602, down 0.31% on the day. On the release front, there or no eurozone or German indicators. In the U.S, unemployment claims is expected to rise to 220 thousand. The Philly Fed […]

Aussie soars on stellar jobs data

Jobs added in June beat estimates by a mile The Australian economy added a massive 50.9k jobs in June, well above economists’ forecasts of a 17.0k increase and the biggest monthly gain since November. Adding to the positive headline, the vast majority of the jobs were in the full-time category at 41.2K, while just 9.7k […]