Ringgit to strengthen on forecasted 4.2% YoY GDP growth
The stellar non-farm employment change, better than expected core retails sales, a decline in the unemployment claims, higher than expected flash manufacturing PMI, and Brexit related uncertainty enabled the US dollar to have an exceptional bullish run against most of
Read MorePound signals reversal on rise in core CPI
On June 17th , we had recommended taking a long position in the GBPPLN currency pair at 5.50 with a target of 5.70. In a matter of one week, the GBP/PLN pair hit a high of 5.7460, before falling sharply
Read MoreLoonie turns bullish as crude oil consolidates around $50
Almost a week before the announcement of the Brexit referendum results, the CAD/JPY hit a 4-year low of 76.12. However, it has recovered marginally since then. There is no need for an extensive research to understand that the actions of
Read MoreNew Zealand dollar to fall on low inflation concerns
The outcome of two surveys indicating a lead for the ‘Remain’ campaign triggered a rally not only in the Pound but also in other risky assets such as the Aussie and the Kiwi dollar. The past three days saw the
Read MoreZloty weakens on Polish Minister’s conservative statement
The last few days saw the Pound consolidating against the Polish Zloty. That looks contrasting in the sense that Pound is on a downhill against almost all other major currencies. From a low of 5.4881, the GBPPLN currency pair touched
Read MoreEuro to decline on Brexit fears
Last Friday, a series of positive economic data propelled the Euro against most of the currencies, including the Mexican Peso. Furthermore, the weakness in the US dollar, which shares an inverse correlation with the Euro, indirectly contributed to the strength
Read MoreUS dollar to decline on possible delay in Fed rate hike
The speculation of a Fed rate hike resulted in an uptrend in the USDZAR pair, which hit a high of 15.9818 on May 19th . The impeachment proceedings against the South African President, Jacob Zuma, also aided the rise of
Read MorePound to strengthen further on BoE’s rate hike hint
As the market started unwinding a portion of the Brexit premium, the Pound galloped against all the major currencies and re-conquered a portion of the lost territory. The GBPCHF is one such pair which saw a huge uptrend in the
Read MoreUS dollar remains weak on soft payrolls data
For the past two months, the EURUSD pair exhibited a range bound movement between 1.0585 and 1.1450. A week before, the currency made another attempt to cross above the upper band. However, selling pressure pushed the currency pair once again
Read MoreJapan Issue Warnings Due Yen Surge Against The Dollar
Japanese Finance Minister Taro Aso has once again expressed concern over the strengthening of the yen against the US dollar, after the yen jumped to an 18-month high earlier this week. The yen has been steadily rising, reaching 106.76 against
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