The possibility is in the air that Britain could abandon the GBP (Great Britain Pound) and switch to the Euro, the currency adopted by Ireland and most of Western Europe (with the exclusion of Denmark, Sweden, Switzerland and Norway). However, there is much opposition...
created by Can Tran | 1 year ago | updated 1 year ago 544 views | 3 recommendations | 5 comments
The morning after: US dollar's slaughter yesterday from worse than expected US consumer confidence and Chicago PMI
still lingers in the air of the forex market. There is hardly any
movement at all in the market during today's Asian session, with most
traders feeling exhausted...
UK house prices continue to rise despite Aug rate hike by the Bank of England (BOE). UK Nationwide House Prices has increased above expectations,
coming out at +0.7% m/m (+0.6% expected) and +8.0% y/y (+7.9%
expected), even though it was merely half the monthly increase seen...
Japan's core Consumer Price Index (CPI) rose 0.25 y/y in Sep, less than
market's expectation of a 0.3% y/y gain (headline 0.6% y/y rise was
within expectation) while the core-core CPI fell 0.5% y/y in...
created by gracecheng | 3 years ago | updated 3 years ago 572 views | 0 recommendations | 0 comments
Japan's Finance Minister Omi visited Mitsubishi UFJ Financial Group
to discuss foreign exchange rates with the bank's dealers. He said
"currency movements should reflect fundamentals", but declined to
comment on specific currency levels. He also said the purpose of his
visit...
created by gracecheng | 3 years ago | updated 3 years ago 394 views | 0 recommendations | 0 comments
If you have stayed away from your trading desk last night, and returned
this Asian morning, you would not have noticed anything different on
the currency charts. The market hardly moved overnight, and it has been
a rather lifeless US session, after USD made all of its gains...
Surprise, surprise. Just when I thought the market was going for a
slumber today, it geared up for unexpected action instead. Today the US
dollar rallied broadly and sharply against the other currencies.
EUR/USD and GBP/USD suffered the biggest decline since more than a...
t's been a Cablelicious week for GBP/USD, having rallied around 340
pips, compared to the measly 150-pip rally by EUR/USD over the past
week. That has coincided with a 68% increase of GBP longs and a slight decrease of Euro longs in the futures market as of last Tuesday. Yen...
Are traders back to hoping for US rate hikes by the Fed again, barely
after they have been speculating about possible rate cuts? Not too long
ago (weeks ago), no rate cut = good for USD. Seems like US bulls are
getting more greedy this time round. They want rate hikes,...
No surprises from BOJ's Governor Fukui's words
today when he said that the BOJ "will support sustainable growth under
price stability by conducting appropriate monetary policy while
carefully checking economic and price conditions." He said the economy
is expanding gradually...
I think the USD bullish sentiment has returned with a vengeance.
Even though US consumer prices fell last month (decreased 0.5% in
September, the biggest drop since November 2005) on the back of a steep
slide in energy prices, the underlying inflation rate accelerated to its...
The US producer price index (PPI) for finished goods fell by 1.3% in September, the largest since prices fell 1.4% in April 2003, and versus an expected 0.7% decline. TICS came in at a record US$116.8 billion,
almost doubling the consensus estimate, but that did not grab...
True enough, Cable (GBP/USD) made a strong comeback on positive housing data,
and on M&A (merger & acquisitions) news that a Qatar-led group
could be in the lead to buy Thames Water after putting in a bid worth
about GBP 8 billion. The deadline for bids imposed by...
UK Rightmove house prices survey shows that asking prices surged 2%
month-over-month, bringing the annual rate to 11.5%, and pushing prices
to a record high of GBP218,954, beating the previous record of
GBP217,580 in July. That marked the fastest pace of annual UK house price...
US bulls are happily and deliriously riding on NFP (non-farm
payrolls)'s âonce-in-a-lifetimeâ big fat upward revision of employment
figures for the 12 months that ended in March 2006, which will
translate to an average of 236,000 jobs a month, or a whopping...