Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
The New Zealand dollar crashed versus its peers during the Sydney-Asian session as the central bank, the RBNZ, issued a monetary policy containing dovish forward guidance, suggesting that interest rate cuts were likely in the short to medium term, as opposed to its previous commitment to raise the rate. RBNZ Governor Adrian Orr declared: “Given […]
USD rose versus the majority of its peers during the latter part of the London-European trading session and the New York session. This rise came despite, or perhaps as a consequence, of the poor housing and consumer confidence data published during the day’s sessions, which saw permits and housing starts miss the forecasts, whilst the
At 1:00am U.K. time, on Wednesday 26th March, the central bank for New Zealand, the RBNZ, will announce its decision regarding the country’s interest rate. Referred to as the “official cash rate”, the current rate is 1.75% and the widely held consensus, after Bloomberg and Reuters have polled their panel of economists over recent days,
The equity markets in China fell during Tuesday’s overnight/morning Asian session, as global growth fears continued to stalk Chinese markets. The Shanghai Composite index fell by -1.51% and the CSI by -1.13%. Chinese investors could be trading ahead of the curve, by regarding the lack of definitive progress in relation to the tariff talks as
The U.K. pound traded in tight ranges versus its peers during Monday’s trading sessions, as analysts and FX traders struggled to make sense of the latest Brexit developments in U.K. parliament. At 10:00pm on Monday evening, MPs voted on another arcane parliamentary process; what’s termed “indicative votes” to establish what type of withdrawal agreement exit
On Thursday evening at an E.U. summit, the leaders of the E.U. 27 finally took control of the Brexit process, by declaring the revised exit dates for the U.K. The March 29th deadline has been moved; if the U.K. parliament can’t agree to the withdrawal agreement, then it exits by April 11th, under a no
The next chapter of the Brexit debacle was reached on Thursday, as the U.K. prime minister May scuttled off to Brussels, in an attempt to negotiate an extension, to the March 29th leave date. She wanted June 30th, the Council appears unwilling to grant such an extension, given it would indirectly compel the U.K. to
By Thursday morning, the U.S. dollar had stabilised its Wednesday evening sell off, caused by the FOMC interest rate hold announcement and the dovish monetary policy statement, broadcast by Jerome Powell after the announcement. Mr. Powell hinted that the “normalisation” process; to take the key interest rate up to circa 3.5% by the end of
The FOMC rate setting meeting ended with the key interest rate being kept at 2.5%. However, the greenback crashed versus the majority of its peers on Wednesday evening, after the Fed chair and leader of the FOMC, delivered such a reactionary dovish policy statement, that investors and FX traders were taken by surprise. Jerome Powell
On Thursday March 21st, at 12:00pm U.K. time, the U.K. central bank the Bank of England, will announce its latest decision concerning the U.K. economy’s base rate. Currently at 0.75% the widely held consensus is that the Governor of the Bank of England, Mark Carney, will announce that the rate will remain unchanged at 0.75%,
