Aussie to strengthen on rally in Iron ore, coking coal
In our March 17th article, we had predicted the Australian dollar to decline against the Greenback, on the basis of poor job additions in February. We had also pointed out that the US dollar would strengthen on Fed’s affirmation to
Read MoreCanadian dollar strengthens on hawkish statement from BoC
Lower than anticipated unemployment claims in the US and sharp decline in the price of crude oil fuelled a rally in the USD/CAD pair in the past week. The pair, which hit a high of 1.3470 yesterday, is trying to
Read MoreKiwi strengthens on rise in price of whole milk powder
New Zealand saw a trade deficit of about $18 million in February due to a decline in the price and export volumes of dairy products. The market had expected a surplus of $127 million. The trade deficit weakened the Kiwi
Read MorePound UP on May’s conciliatory speech in UK Parliament
At the beginning of this year, many analysts and speculators were betting on the Euro to trade at par with the US dollar. However, the Euro defied such expectations and rallied against the Greenback and other major currencies. The marginal
Read MoreRising support for Macron in French election boosts Euro
The unexpected support for ECB rate hikes from Ewald Nowotny, Austrian representative on the ECB’s council, and victory of pro-EU Prime Minister Mark Rutte in the Dutch election propelled the Euro against the New Zealand dollar for the past two
Read MoreAussie signals downtrend on rise in unemployment rate
On the basis of a decline in the private capital expenditure and record high inventories of iron ore at the Chinese ports, on February 27th , we had cautioned traders about the possibility of an Aussie sell off. In this
Read MoreSharp decline in German factory orders turn Euro weaker
On the basis of a high debt to GDP ratio of China and probable defeat of Marine Le Pen in the second round of the French election, we had recommended going long in the EUR/AUD pair at 1.3680, with a
Read MoreAussies weakens on decline in private capital expenditure
Lower than anticipated flash manufacturing PMI in February and less hawkish stance of the Fed turned the US dollar weak against the Aussie. The two and a half year high price of iron ore also aided the Aussie to gain
Read MoreAussie Down on concerns over high debt-GDP ratio of China
Political uncertainty in Europe due to the upcoming elections in France, steep rise in the price of iron ore, and positive employment change data announced by the Australian Bureau of Statistics pushed the EUR/AUD pair to a low of 1.3731
Read MoreYellen’s optimistic view of US economy boosts Greenback
The US dollar fell broadly against all the major currencies, including the Swiss Franc, in January. The Greenback was hammered because of two main reasons: Trump’s remark about the strength of the US dollar, and lack of details on infrastructure
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