- U. of Michigan Confidence to Improve for Second Consecutive Month. - Print of 84.5 Would Mark the Highest Reading Since July. Trading the News: U. of Michigan Confidence A second straight rise in the U. of Michigan Confidence survey may spur a further decline in the EUR/USD as the ongoing improvement in the world’s largest economy puts increased pressure on the Federal Reserve to normalize monetary policy sooner rather than later. What’s Expected: ...
USD/CAD little changed in rangebound trade The U.S. dollar was almost unchanged against the Canadian dollar on Wednesday, as trade remained subdued without any significant economic data to give investors a clear direction. USD/CAD was last trading at 1.0902 and was moving in a range of 1.0894 to 1.0922. The pair was likely to find support at 1.0875 and resistance at 1.0925, Tuesday's high. The pair showed little reaction after data released earlier ...
EUR/USD – Euro Weakens As German Economic Sentiment Slips EUR/USD has softened on Tuesday, as the pair has finally broken out from its rangebound trading. In the European session, the pair has dipped close to the 1.37 line. The euro has reacted negatively to a dismal German ZEW Economic Sentiment, as the key indicator dropped to a 16-month low. Eurozone Economic Sentiment followed suit with a soft reading in April. In the US, today’s highlights are Core Retail Sales and Retail Sales. ...
Big banks extend dominance of forex league table The biggest banks have reinforced their dominance of the $5.3tn a day foreign exchange market in the past year, according to a closely watched industry survey. The combined market share of the top five banks in currency dealing has risen to 60.6 per cent from last year’s 57.4 per cent in Euromoney’s annual poll. It is the first time the combined share of the top five has risen above 60 per cent since 2009. The ...
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