Between our Fed holding the line on rate hikes and Mario Draghi insinuating the QE will end for the Euro zone later this year, the U.S. Dollar has been slammed more than it should and European currencies soared to heights they should not have.
Foreign Exchange Market (Forex): Trading the United States dollar on the short side has been a winning trade in 2017, but some technical analysts argue the greenback's weakness is now substantially overdone.
Foreign Exchange Market (Forex): The dollar hit a four-month high against the yen and global equity markets edged up on Tuesday as investors awaited testimony by Federal Reserve Chair Janet Yellen this week and any signs of tighter United States monetary policy.
Foreign Exchange Market (Forex): The dollar traded above breakeven against a basket of global currencies on Wednesday, despite United States factory orders in May undershooting expectations ahead of the release of the minutes from the Federal Reserve's June meeting.
Foreign Exchange Market (Forex): The euro rose on Thursday alongside sterling and bond yields as a slew of hawkish comments from central banks signaled the era of ultra-loose monetary policy is ready to sunset across the Atlantic.
Foreign Exchange Market (Forex): The dollar climbed to two-week highs against other major currencies on Thursday, as a string of upbeat United States data and the Federal Reserve's decision to raise interest rates continued to support.
Foreign Exchange Market (Forex): The euro was lower against the dollar on Thursday after the European Central Bank downgraded its inflation forecast for the next three years, but also tweaked its guidance on rates, dropping a pledge to cut rates again if needed. EUR/USD was trading at 1.1219 by 09.17 AM ET, off 0.32% for the day after initially touching lows of 1.1196.
Foreign Exchange Market (Forex): The dollars pushed higher against other major currencies on Thursday, helped by the release of upbeat United States jobs data and as investors were now eyeing Friday's highly anticipated nonfarm payrolls report. EUR/USD slid 0.34% to 1.1205.
Foreign Exchange Market (Forex): The dollar traded flat on Wednesday, as investors opted for caution, despite hawkish comments from Philadelphia Federal Reserve head, Patrick Harker, ahead of the release of the Fed's minutes to its May meeting.
Foreign Exchange Market (Forex): Early indicators on Sunday showed the euro topping $1.10 for the first time since the United States election results, according to data from trading platform Electronic Broking Services (EBS), on reports of polls showing Emmanuel Macron on course to win the French presidential election.
Foreign Exchange Market (Forex): Dollar Rebounds as Treasury Yields Pop. The United States Dollar Index rose by 0.26% to 99.76 today as the greenback advanced against all of the majors on the rise in Treasury yields.
Foreign Exchange Market (Forex): The United States Dollar Index added 0.07% to 100.78 today as the greenback rallied against all of the large developed-economy currencies except for the Canadian dollar.
Foreign Exchange Market (Forex): Dollar Reverses Early Gains. The United States Dollar Index is up just 0.03% to 100.57 today as the greenback rallies against the Japanese yen and Swiss franc amidst a resurgence in global risk appetites.
Foreign Exchange Market (Forex): Mario Draghi eventually got around to throwing hawks a bone in his news conference Thursday, emphasizing that policy makers no longer felt a "sense of urgency" about the need to communicate a willingness to take additional steps to fend off the threat of deflation.
Market action here was exactly as anticipated with the Dollar falling to almost exact support before roaring higher and non Dollar currencies running up to almost exact resistance areas before tanking to mini support areas.
Foreign Exchange Market (Forex): The dollar turned lower other major currencies on Thursday, weighed by the release of downbeat United States jobless claims data and as the minutes of the Federal Reserve's most recent policy meeting failed to deliver a clear message on the pace of future rate hikes. EUR/USD edged up 0.16% to 1.0573, off the previous session's six-week low of 1.0492.
Foreign Exchange Market (Forex): In Australia, employment grew by 13.5K workers in January, exceeding expectations but slowing from December's 16.3K growth. The unemployment rate unexpectedly fell to 5.7% from 5.8%.