Within the past several hours, a story that will no doubt mushroom over the coming days has developed. We have, it seems, the makings of another gulf crisis.
Early this morning, four Arab nations, led by Saudi Arabia, have announced that they have severed diplomatic ties with Qatar and are acting to close all access to the country.
According to reports, the governments of Saudi Arabia, Egypt, Bahrain and the United Arab Emirates will halt all air and sea travel to and from Qatar. View article >
There is good news for those in the US, Europe, Japan, Singapore, the UK, New Zealand, Taiwan, India, Mexico and just about anywhere at all, and that news is: that the Australian dollar is offering itself up for sale, in a buy 1 get all special.
If you’ve always dreamt of cuddling that koala, buying that Melbourne property or making payment for a lifetime supply of kangaroo wrestling gloves, now is the time to do it, the time to buy it, and the time to send that money. View article >
A rebound in US non-farm payrolls data surprisingly saw the US dollar fall yesterday against all of the other majors, with the exception of the Japanese yen.
Yesterday’s headline reading for April of +211k new jobs stood in stark contrast to March’s number of only +75k (revised lower from +98k). March’s figure had missed market expectations wildly (+174k had been expected) and had been accompanied by a tick down in average hourly earnings. View article >
Japan’s National Core CPI – an inflation reading that strips out volatile food prices – has risen on an annualized basis for the third consecutive month.
For the year ending March-17, core CPI grew 0.2%, matching February’s figure and improving on January’s 0.1%.
Although the rate of growth appears slight, it is a welcome development for central bankers in Japan, who have been battling deflation in the country for the best part of twenty-years. View article >
The team at BMI Research – part of the Fitch group of companies – are maintaining their “slightly bullish” short-term view on the Taiwan dollar, mainly on technical grounds.
Over a longer-term, analysts at the firm are also positive on the Taiwanese currency, believing in a “gradual appreciation”, based upon a solid fiscal outlook in Taiwan and what they see as an undervalued currency generally. View article >
The US dollar has put the brakes on this weeks decline and has opened in New York with gains across the G10 spectrum. Most of those gains were at the expense of the commodity currency bloc and the Japanese yen.
In Asia, Sterling failed to extend gains made after the British Prime Minister called a “snap” election. Instead GBPUSD traded sideways inside a 1.2809-1.2859 band. View article >
The ‘Greenback’ was bolstered by the Chair of the Federal Reserve, Janet Yellen, who made hawkish indications that the Fed would raising interest rates soon as she warned against keeping rates low for too long. While markets have been predicting it for a while, Yellen’s comments make is almost certain that the Fed will hike rates in December. View article >
The ‘Loonie’ was weakened by falling oil prices as the possibility of OPEC reaching an agreement to curb crude production began to be questioned by markets once again.
However CAD may recover some of its losses later today if the Canadian consumer price index rises as expected, with investors currently predicting that it will jump from 1.3% to 1.5% in October. View article >
The United States Dollar is today even against the Euro, down -0.16% against the Canadian Dollar, up 0.25% against the Australian Dollar, even against the British Pound Sterling, down -0.75% against the Mexican Peso, up 0.22% against the Japanese Yen, down -0.1% against the Indian Rupee and up 0.74% against the Philippine Peso
Read on for the 1-week and 3-month USD cross rates, charts and trends. View article >
The Canadian Dollar is today up 0.3% against the United States Dollar, up 0.2% against the Euro, down -0.91% against the Mexican Peso, even against the Indian Rupee, up 0.54% against the Australian Dollar, up 0.08% against the British Pound Sterling and up 0.67% against the Philippine Peso
Read on for the 1-week and 3-month CAD cross rates, charts and trends. View article >
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