Currency Outlook News - FX Trading

Sat 23 Sep 2017
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Currency Outlook News

Latest 10 news items tagged Currency Outlook

Aussie dollar and euro drop ahead of China growth report24 Oct at 9 AM 2012

Lower than expected earnings reports from the US have pushed the Australian dollar and the euro to one-week lows against the dollar. Risk aversion has also been fuelled ahead of a report to be released by HSBC on the state of China’s manufacturing sector. However, any signs that the slowdown in China has stabilised could lead to the markets bouncing back. The euro pulled back slightly from a low of $1.2952 to trade at $1.2985 which is still higher than $1.2804 hit earlier in the month. BNP Paribas analyst, Bricklin Dwyer, said low...

Euro down as Spain denies bailout is definitely on the cards3 Oct at 2 PM 2012

Recent support given to the euro because of expectations that this weekend would see Spain holding its hands out for a bailout package from Europe has slipped slightly following comments by the country’s prime minister that a request was not necessarily imminent. However investors are remaining cautious and seem to be waiting for something decisive. They are also waiting for an announcement by Moody’s later in the month as to whether Spain will be allowed to hold onto its investment grade credit rating. Although the euro is now at...

Euro rises for second consecutive day14 Aug at 4 PM 2012

The euro enjoyed a second successive day of growth on Tuesday, boosted by positive growth data from France and Germany. However, these temporary gains could be short lived as the wider euro bloc remains in a worrying slowdown. Germany released data which showed gross domestic profit had risen by 0.3 per cent over the second quarter, while France unexpectedly avoided contracting in the same period. The outlook for the region as a whole is not as positive, with analysts predicting a 0.2 per cent contraction in Q2, on the back of a...

USD/JPY down on fading ECB hopes and growth fears11 Aug at 9 AM 2012

The US dollar lost ground on the Japanese yen on Friday, with renewed global growth worries and fading optimism over whether the European Central Bank would inject fresh stimulus to support struggling euro zone countries. USD/JPY fell to a daily low of 78.40 in European trading, but subsequently recovered to hit 78.42, 0.18 per cent down on the day. The pair was expected to see support at the 6 August low of 78.14 and resistance at Thursday’s high of 78.79. Market sentiment felt the heat from fading hopes that the ECB will act to...

Euro vulnerable as weak PMI data darkens outlook26 Jul at 9 AM 2012

The euro lost ground on the dollar yesterday after weak economic data from Germany fuelled concerns over slowing growth in the continent’s largest economy, and seemed set to extend losses on increasing concerns that Spain may require a full bailout. Figures from Germany’s purchasing managers’ index (PMI) arrived a day after the Moody’s ratings agency changed its outlook to negative for Germany, Luxembourg and the Netherlands, warning that the top-rated countries in Europe may have to offer more support to indebted states like...

Dollar on offensive against riskier assets22 Jun at 9 AM 2012

The dollar stayed close to a one-week high versus a basket of major currencies today, supported by the worlds’ major banks being downgraded by Moody’s while traders hold tight ahead of the European leaders’ meeting later on Friday. The greenback staged its biggest rally for over three months overnight after key business activity surveys from the eurozone, the US and China hit the outlook for the global economy. Traders favoured the dollar, having sold it prior to this week’s Federal Reserve meeting as they hedged bets against a...

Dollar resilient following Fed stimulus21 Jun at 11 AM 2012

The dollar stayed above a one-month low versus a basket of key currencies on Thursday having not been impacted by the Federal Reserve’s decision to launch further monetary stimulus in a bid to boost the flagging economy. According to traders, dollar bears were prevented from rampaging by the fact that the Fed did not begin a more aggressive programme of purchasing bonds outright, or QE3, something that some market experts had expected. The central bank injected $267bn into its ‘Operation Twist’, meaning it will offload the...

Euro up on dollar for third consecutive day14 Jun at 4 PM 2012

The euro climbed against the dollar for the third consecutive day today as investors continued to take large bearish positions in the lead-up to Sunday’s much-anticipated elections in Greece, but as borrowing costs in pain and Italy still at sky-high levels the single currency’s gains are said to be tenuous. While investors tried to cover bets put on the currency losing value, the outlook for the euro remains negative, particularly after benchmark 10-year government bond yields in Spain reached a euro lifetime high of over seven...

Aussie rallies following strong jobs data7 Jun at 12 PM 2012

The euro held onto gains after a strong rally versus the dollar on Wednesday after the ECB decided against cutting interest rates and made no changes to the growth outlook. Rates remained at one per cent although the ECB said that it was ready to act if necessary but within its mandate’s scope. However, the bank refused to commit, saying it was the governments’ responsibility to manage fiscal shortcomings. After hitting a high in US trading of 1.2584, the EUR/USD opened Asian trading at 1.2580 cooling on profit taking to...

Euro recovers after ECB chief dampens easing hopes4 May at 9 AM 2012

The euro rose against the yen on Thursday and recovered from two-week lows, trading almost flat against the US dollar after Mario Draghi, the European Central Bank chief, gave a more positive assessment of the economy in the eurozone than anticipated, reducing expectations for another wave of monetary easing, reports Reuters. However, the euro’s gains could be short-lived, with elections in Greece and France to be held at the weekend. Draghi said that he expected the eurozone economy to recover in 2012, although he admitted that the...