Signs of economic recovery strengthens Singapore dollar
Since mid-November the Singapore dollar remains weak against the Greenback. The primary reason for the weakness is the 0.2% drop in the consumer prices and the poor preliminary GDP growth estimate of 0.6%. The Singapore economy derives a major portion
Read MoreNew Zealand dollar turns bullish on rise in dairy prices
The announcement of production cut by the OPEC cartel, which pumps out nearly 1/3rd of global crude supply, enabled the price of crude oil to hit a 16-month high of $55.33 per barrel. This further strengthened the Canadian dollar against
Read MoreUpcoming Italy Referendum Turns The Euro Weaker
The victory of Trump bolstered the Greenback against other major currencies in an unexpected manner. Not surprisingly, the Euro dollar was one of the main losers. The Euro lost more than 600 pips and touched a low of 1.0518 against
Read MoreCanadian dollar turns weak as crude fails to cross $50
The Canadian dollar turned weak during the period ranging from mid-October to mid-November. There were two reasons for the weakness. Obviously, the first reason is the Canada’s economic contraction in the second-quarter. The second reason is the call for the
Read MoreAussie weakens on decline in iron ore price
Based on the rally in the price of iron ore and coking coal, on October 13, we had advised currency traders to open long position in the AUD/JPY pair at 78.20, with an order to book profit at 79.80. The
Read MoreLooming renegotiation of NAFTA turns Loonie weaker
The considerable increase in the Forex market volatility, brought about by the surprising victory of Donald Trump in the US election, is not expected to subside sooner. In fact, many analysts believe that the chaos has started only now as
Read MoreCanadian dollar turns weak on rate cut speculation
The 0.4% q-o-q contraction of the Canadian economy in the second-quarter ended June, the rise in the unemployment rate to 7% and lower than the anticipated inflation rate of 1.1% y-o-y in August had little negative effect on the Canadian
Read MoreEuro remains weak on lackluster economic growth
The outcome of the Brexit referendum hardly allowed any kind of recovery in the Euro dollar, so far, against any of its rivals, including the New Zealand dollar. The decline in the New Zealand’s Q2 unemployment rate to 5.1% and
Read MoreAussie turns weak on forecast of fall in commodity prices
On September 15, we had reported that the AUD/USD is on the verge of a breakout on the upside and a long position can be created near 0.7430 with a 200 pip profit target. We had also recommended investing in
Read MoreFirm iron ore and coal prices keep the Aussie bullish
On September 23, we had suggested currency traders to take a long position in the AUD/JPY pair near 76.70, with a target of 78.20. For binary traders, we had recommended the purchase of a one touch call option. The target
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