Pound turns weak after BoE dashes hopes of rate hikes
The Bank of England, as anticipated, raised the benchmark interest rate by 25 basis points to 0.50% on Thursday. However, the market reacted negatively to the rate hike. In general, a rate hike makes the currency of a country more
Read MoreEuro up on fundamentally attractive valuations
In our October 26 report, we had forecast a downtrend in the EUR/USD pair. Further, we had also mentioned our plan to go short in the currency pair near 1.1820, with a target level of 1.1560. Our desire to invest
Read MoreGreenback up on Senate approval of budget blueprint
Last week, the US Senate approved the budget plan that gives way for tax cuts. Notably, the US Republican Senator Rand Paul gave his support for the proposed tax reform bill. The dollar index (DXY), which tracks the US dollar
Read MoreRuble strengthens on improvement in Russian economy
The deadlock in Brexit talks and the ECB president Mario Draghi’s dovish stance on tapering of monetary stimulus has kept the Euro weak since August. On the contrary, the range bound movement of crude oil, between $45 and $50 per
Read MoreIron ore price rout keeps the Aussie bearish
Two weeks ago many brokers predicted a downtrend forecast in the AUD/JPY pair. Furthermore, many stated that a short position may be opened near 89.40 in the currency market, with an aim to book profit near 87.80. Additionally, brokers proceeded
Read MoreGoPro turns weak as Google launches AI based camera
On the basis of an upward revision of fiscal 2017 third-quarter outlook, on September 13th , there was a predicted rally in the stock of wearable action camera manufacturer GoPro Inc (NASDAQ: GPRO). There was a desire to purchase a
Read MoreKiwi down on fall in dairy prices, political uncertainty
An unexpected widening of trade deficit in August, slowing housing market, a decline in the price of crude oil and Bank of Canada’s cautionary approach towards a rate hike has turned the Canadian dollar weak against its G10 rivals in
Read MoreUS dollar down on concerns over US tax reform plan
In our September 21st report, we had forecast the GBP/USD pair to decline from the level of 1.3510. Furthermore, we had also mentioned that we may go short in the currency pair and simultaneously purchase a put option to gain
Read MoreEuro strengthens on strong German employment data
The improvement in the Euro zone economy over the past few months has strengthened the Euro considerably against the G10 currencies. Surprisingly, the Euro did not give much of a ground even to the Yen, a safe haven currency, when
Read MoreUS tax reform plan turns Greenback bullish
The Kiwi dollar fell sharply on Monday after none of the parties got a majority in the general election conducted on Saturday. The ruling National Party got 58 seats, while the Labour, under the new popular leader Jacinda Ardern, won
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