Home / Stock Market News / Daily Currencies Ratings (page 2)

Daily Currencies Ratings

Euro inches higher ahead of ECB decision on bond buying

The euro edged higher on Thursday before an expected reduction in the pace of the European Central Bank’s bond buying, while the dollar held to recent gains as concerns about the global economy sent traders into currencies deemed safer. The euro rose 0.1% to $1.1825 following a three-day retreat from Friday’s two-month high of $1.1909. The dollar index was marginally lower at 92.644, after three consecutive days of rises. The ECB holds a policy meeting on Thursday at which it is expected to announce a trimming of the pace of ...

Read More »

EUR and ECB Crib Sheet: Hawkish expectations may be unwarranted

ECB may fail to meet hawkish market expectations The market has recently turned more doubtful about the ability of the ECB to retain an ultra-dovish stance and keep postponing the tapering discussion, especially after another rise in the eurozone’s inflation and some hawkish members voicing their concerns about excessive monetary stimulus. In FX, such developments provided the first idiosyncratic push to the EUR, after a long period where EUR/USD was, by and large, a mirror of the dollar’s dynamics. We suspect that, in order to continue reaping all the benefits ...

Read More »

Dollar tracks U.S. yields higher, hits one-week top ahead of ECB

The dollar rose to a one-week peak against peers on Wednesday, buoyed by higher Treasury yields and a weaker euro a day ahead of a European Central Bank policy decision. The dollar index =USD, which measures the currency against six rivals, traded 0.1% higher at 92.628 after earlier touching 92.655, a level not hit since Sept. 1. The euro EUR=EBS also traded 0.1% lower at $1.1831 after hitting $1.1828, its lowest since Sept. 1. Helped by higher U.S. yields, the greenback also hit a 3-1/2 week high of 110.45 yen ...

Read More »

Dollar finds footing as traders look to ECB

The dollar found support on Tuesday as investors awaited a European Central Bank meeting and U.S. data to gauge the policy outlook, while the Aussie blipped briefly higher after the Reserve Bank of Australia stuck with its tapering plans. The greenback held the euro EUR= below $1.19 at $1.1872, was steady on the yen JPY= at 109.79 per dollar and drifted a little firmer on the Australian and New Zealand dollars at the end of the Asia session. The dollar index =USD sat at 92.200. The Reserve Bank of Australia ...

Read More »

China state banks bought dollars on Friday to drag yuan lower

China’s major state-owned banks were seen buying U.S. dollars in the onshore spot market late on Friday, pushing the yuan lower, three sources with direct knowledge of the matter said. The onshore spot yuan strengthened on Friday after disappointing U.S. jobs data pushed the dollar lower. The move by the state banks was seen as an effort to rein in rapid yuan appreciation, with one source saying the aim was to ensure the currency closed on the weaker side of the 6.45 per dollar level. One of the sources said ...

Read More »

Dollar shakes off jobs report blues in big central bank week

The U.S. dollar on Monday clawed back some of the losses sustained after last week’s poor U.S. jobs report, helped by firmer U.S. Treasury yields in a big week for major central banks. The dollar index =USD, which measures the currency against six rivals, edged 0.1% higher to 92.23, after dipping to 91.941 for the first time since Aug. 4 on Friday, when a closely watched U.S. labour report showed the world’s largest economy created the fewest jobs in seven months in August. But the weak jobs report did not ...

Read More »

Dollar hits one-month lows before payrolls test

The dollar sank to its lowest in almost a month against major rivals on Friday, ahead of a crucial U.S. jobs report that could spur the Federal Reserve to an earlier tapering of stimulus. The dollar index, which measures the greenback against six peers, was little changed at 92.227 after earlier touching 92.151 for the first time since Aug. 5. The euro was also mostly flat at $1.1876, after hitting the highest since Aug. 4 at $1.1884, supported by regional inflation at a decade high and hawkish rhetoric from European ...

Read More »

Sterling driven higher by dollar weakness, still stuck below $1.38

Sterling edged higher on Thursday, driven by dollar weakness after disappointing U.S. labour data, while traders waited for the fuller jobs report on Friday to give new momentum to currency markets. So far this week, the pound has been propelled by moves in other currencies, in the absence of UK-specific data releases or Bank of England speakers. The dollar was close to its weakest in nearly one month, after U.S. ADP payroll numbers were lower than expected. Currency markets were generally quiet in the Asian session, as investors waited for ...

Read More »

Yuan investors might be seeing upside of China crackdown

Curiously, FX traders seem to be lining up to sell USD/CNH, despite recent China data misses and intensifying state intervention in key economic sectors . The obvious signs of slowing growth might, counterintuitively, be fuelling their convictions. Dismal data validates analysts’ calls for further monetary easing by the People’s Bank of China – increasingly a consensus view . The broadening scrutiny by Chinese regulators into various industries, as part of President Xi Jinping’s push for “common prosperity”, has not fazed yuan bulls; paradoxically giving them more confidence that stimulus is ...

Read More »

FX Daily: Steadying EUR/USD gives risk room to rally

USD: Taking a back seat After much focus last week on the Jackson Hole speech and what it means for Fed tapering, attention has turned more to Europe this week. Below we discuss what ECB commentary may mean for EUR/USD short term. For the dollar itself, we still favour a benign environment. Here, even a strong nonfarm payrolls figure on Friday (look out for ADP jobs data today expected at +638k) does not mean the dollar has to rally hard. Yes, it can cement views that the Fed may announce ...

Read More »

Euro settles near one-month high after inflation jolt

The euro consolidated gains below a near one-month high on Wednesday as a higher-than-expected inflation reading pumped up bond yields, forcing investors to cover their bearish bets on the single currency. Data on Tuesday showed euro zone inflation increased to 3% year-on-year in August, the highest in a decade, above the European Central Bank’s 2% target and a 2.7% forecast in a Reuters poll. The reading sent yields on German benchmark debt to their highest levels since late July. GVD/EUR The jump in bond yields forced traders to halt their ...

Read More »

FX Positioning: USD longs rose again before Jackson Hole

USD shorts rapidly evaporated in the summer CFTC positioning data to 24 August shows how the dollar moved into a net-long position (+6% of open interest vs G10), after most of the short positions were trimmed on the back of worsening global risk sentiment and rising expectations about the Federal Reserve’s policy normalisation over the summer. The table below provides a snapshot of G10 positioning three days before Fed Chair Powell’s speech at Jackson Hole on 27 August. All currencies except for the Swiss franc had either a neutral or ...

Read More »

Dollar weakness pushes sterling to two-week high

The pound rose to its highest in two weeks on Tuesday, extending gains against the dollar which weakened after U.S. Federal Reserve Chair Jerome Powell did not signal a timeline for a policy shift. At the highly-anticipated Jackson Hole economic conference on Friday, Powell offered no indication about when the central bank planned to cut its asset purchases beyond saying it could be “this year”. The comments knocked the U.S. dollar and pushed up the pound. Sterling extended these gains on Tuesday as the dollar fell further. At 0738 GMT, ...

Read More »

Most Asian equities, currencies firm as Fed taper fears wane

Most Asian emerging stock markets gained on Monday, led by Indonesia, India and Singapore, as U.S. Federal Reserve chief Jerome Powell’s remarks at the Jackson Hole Symposium calmed fears over the tapering timetable. Among currencies in the region, South Korea’s won and the Malaysian ringgit led the rise while the Indian rupee also logged strong gains, as the dollar nursed losses after Powell laid out on Friday a slower-than-expected path to rate hikes. The won KRW=KFTC rose as much as 0.6%, while the ringgit MYR= touched a near two-month high. ...

Read More »

Dollar awaits Powell’s Jackson Hole speech

The dollar steadied on Friday as investors awaited a highly anticipated speech by Federal Reserve Chair Jerome Powell, with analysts now doubting the central bank’s boss will hint when he may start to trim asset purchases. The market was focused this week on what signals the U.S. central bank could send at its annual Jackson Hole conference, which kicked off on Thursday in virtual format, with the main event being Powell’s speech on Friday. The event has been often used by Fed bosses in the past to provide guidance on ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping