Forex NewsCohn Resignation to affect USDCAD Pair?
Will Gary Cohn’s resignation impact the USDCAD rate? Recent news that has caused shockwaves in financial circles is the sudden resignation of US National Economic Council director Gary Cohn. This has led many to fear that the trade tariffs President Donald Trump has been planning are back on the cards. Cohn had been an opponent of […]UBS See London As Financial Centre Post-Brexit
The giant Swiss investment bank UBS has gone on record saying London should still be Europe’s financial core after Brexit, and it will do its utmost to keep as many staff as it can in the city. The comments came from UBS’s investment banking head Andrea Orcel at the World Economic Forum in Davos, where […]BoC flips dovish, USDCAD pops higher
To say that today’s speech by BoC governer Poloz was bearish wouldn’t do the market reaction justice. The USDCAD, which has been ripping to the downside recently on a hawkish Bank of Canada and rising oil, reversed hard today on the revelation that the BoC is now going to move ahead with caution. FX traders […]Is It Time To Buy The US Dollar?
The dollar has seen nothing but red this year, is it time to buy the US dollar? The Year of the Bulls Turned Sour. Every man and their dog was long the dollar going into 2017. The story was clear: we had a weak Euro-zone, weak Canada, weak Japan, and a strong USA with a […]Central Bank Speeches & Low Liquidity Pop EUR/USD Stops.
Janet Yellen and Mario Draghi both gave speeches on Friday in Jackson Hole. Neither said much about monetary policy, the strength of the Euro or Dollar, and future outlooks. Looking the action on Friday you’d have thought otherwise. If you were watching the action on Friday, you’d have seen that the EUR/USD and gold were […]Tomorrow’s NFP Could Be The Catalyst For A US Dollar Rebound.
The US Dollar as seen nothing but red so far in 2017, but tomorrow’s NFP numbers could provide some support to the struggling greenback. Non-Farm Payrolls is arguably the most important of all the US economic indicators. While you may debate the relevance of certain figures, there’s no doubt that both traders and the Fed […]The EUR/USD Breaks 1.16 As Traders Continue Pricing In The End Of QE.
The Euro rallied as high as 1.1650 today, reaching its highest level in over a year, after the ECB left rates on hold and traders called Draghi’s bluff on QE and tapering in 2017. Despite his best attempts, Draghi’s dovish tone failed to keep a lid on the Euro, however September looks increasingly unlikely as […]Draghi Finally Says The Words EUR/USD Traders Have Been Waiting For
On Tuesday, ECB President Mario Draghi remarked that the ECB was ready to begin looking at phasing out its stimulus measures. The Euro responded accordingly, rallying around 200 pips as traders took this as the long confirmation they have been patiently waiting for. It hasn’t been all smooth sailing though. On Wednesday morning the ECB attempted to […]