Forex
Greenback turns weak on rise in jobless claims
The US dollar rallied against the Mexican Peso last week, mainly on expectations of announcement of sweeping changes that could be brought about in the US tax system. The steep decline in the price of crude oil also favored the
Read MoreEurosceptic candidates gain lead in French polls
As crude oil nudged downwards to $50 per barrel, the Canadian dollar began to falter last week. The dairy trade dispute between the US and Canada also weakened the Canadian dollar. On the other hand, a 0.8% m-o-m rise in
Read MorePound to decline as UK embraces snap election
Considering the rising inflation scenario and the hawkish sounding statement from the Bank of England, on March 20th , we had recommended going long in the Pound near 1.2340. Simultaneously, we had suggested investing in a call option offered by
Read MoreForecast of current account surplus turns Aussie stronger
A decline in the retail sales in February coupled with a poor outlook for iron ore and coking coal weakened the Australian dollar against the Canadian dollar. The AUD/CAD pair’s decline was also fuelled by a crude oil rally and
Read MoreGreenback turns weak on soft non-manufacturing PMI data
On March 27th, considering the issues faced by the South African industry and possibility of a credit downgrade, we had suggested going long in the USD/ZAR pair at 12.42. To option traders, we had advised an investment in a high
Read MoreQ4 economic contraction, budget deficit keeps Rand weak
Disappointment over less hawkish tone of the US Fed kept the Greenback in a downtrend against its rivals for the past two weeks. One of the currencies which gained in a notable manner is the South African Rand. From a
Read MorePound turns bullish on BoE’s less dovish stance
When a currency is driven by political sentiment than fundamental data, then it becomes quite easy to spot the trend. The possibility of a demand for second referendum by Nicola Ferguson Sturgeon, leader of the Scottish National Party, and EU’s
Read MoreCanadian dollar signals uptrend on strong jobs additions
Considering the strong rise in the Euro zone PMI and poor retail sales in Canada, on February 24th, we had suggested a long position in the EUR/CAD pair at 1.3860, with a target of 1.3980. To binary traders we had
Read MoreYen signals downtrend on decline in Balance of payments
Decline in the price of crude oil and uncertainty surrounding the French election ensured the decline of the CAD/JPY pair to a low of 84.16 in the last day of February 2017. Trump’s call for a quick renegotiation of the
Read MoreScottish independence referendum fears weighs on Pound
A decline in new home sales and core durable goods orders on a month-over-month basis in January weakened the US dollar against the major currencies such as the Pound. The unexpected increase in the Confederation of British Industry’s Industrial (CBI)
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