Pound looks cheap following strong service sector PMI
A series of positive economic data in the past one week has done little to propel the Pound against the Euro, Greenback, and other commodity based currencies such as the New Zealand dollar. The Pound has now become the prime
Read MoreRise in dairy products price turn Kiwi dollar bullish
The Australian dollar and the New Zealand dollar usually exhibit high volatility during periods of uncertainty in the global economy. The antipodean currencies tend to move in the same manner against other currencies. Following the rate cut by the Reserve
Read MoreEuro to strengthen on high ‘real’ rates in the Euro Zone
The EUR/CAD pair was trading between 1.43 and 1.4600 for the past four months. Unemployment issues, low inflation, and negative impact of the UK’s decision to exit the EU are the core problems faced by the Euro zone. In the
Read MoreAussie to gain on rising demand for coal and natural gas
Last week, lower-than-anticipated second-quarter economic expansion of Australia resulted in a decline of the AUD/USD currency pair by 200 pips. Australia recorded a GDP growth of 0.5% in the quarter ended June 2016, against the analysts’ expectation of 0.6% growth.
Read MoreLower than anticipated Q2 GDP growth turns Aussie weak
On August 15, we suggested taking a long position in the AUD/MXN pair at 13.90. For the suggested trade, we had given a target price of 14.10. We also advised binary traders to purchase a one touch call option. In
Read MoreCanadian dollar to rise on better than expected GDP growth
The wildfire in the Alberta region of Canada and the subsequent news of its negative impact on the export revenues kept the Canadian dollar weak for the most of August. Similarly, the uncertainty in the US Fed rate hike and
Read MoreNew Zealand dollar to decline on widened trade deficit
The uncertainty in the Fed rate hike and higher than expected unemployment rate of 4.9% in July kept the Greenback lower against several currencies, including the New Zealand dollar, for most of August. However, the widening of trade deficit, rate
Read MoreRuble to strengthen on decline in Unemployment rate
Lower than expected unemployment claims in the US enabled the Greenback to rise sharply against the Russian Ruble in the second week of July. From a low of 61.85, the USD/RUB pair rose to a high of 67.289 in a
Read MoreRecord high trade deficit keeps the Canadian dollar weak
The decline in the price of crude oil and the unimpressive stimulus measures announced by the BoJ enabled the CAD/JPY pair to decline from a high of 82.49 to 76.40 in a matter of one month. However, there recent developments
Read MoreUpbeat construction PMI data turns Pound bullish
The unwinding of short positions continues to keep the Pound firm against the major currencies, including the Swiss Franc. The Swiss National Bank’s policy of keeping the Franc weak, in order to fight deflation and boost exports, has also aided
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