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BER Currency News articles keep you up-to-date on events from around the world that affect the currency markets. The focus is on the news and trends for major currency pairs and the latest market predictions to ensure BER users are always in the know.

US Dollar Firmer-Durable Goods Data Due

Categories: AUD, CAD, CHF, EUR, GBP, Markets, News, USD
The US dollar started the New York sessions with modest gains compared to Friday’s close.  That wasn’t the case in Asia where several markets were closed for holidays. USDJPY inched higher to start the day and then accelerated in Europe, rising from a low of 111.15 to 111.70. A rise in Asia equity indices an US Treasury yields encouraged the move. View article >

Euro Tumbles as Italy Bails out Two More Banks

Categories: AUD, CAD, EUR, GBP, Markets, News, NZD, USD

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) rose against the majority of its peers at the start of this week’s trading session following news that Theresa May was close to finalising a deal with the DUP to support a minority government. Markets are hopeful that the deal will help to stabilise May’s minority government and strengthen her position in the ongoing Brexit negotiations. View article >

Philippine Peso Jumps on Profit Taking and Reduction in US Rate Expectations

The Philippine peso jumped against the US dollar on Friday, forming a strong reversal signal away from the 50.50 level which has kept the USD/PHP exchange rate contained since February. USD/PHP had opened at 50.38 on the week’s final day but fell in each of the Asia, Europe and US sessions to end the week at 50.10. In producing a reversal candle which opened virtually on its highs and closed on its lows, the USD/PHP rate should now have sufficient downward momentum to move back towards the lower boundary of its current trading range. View article >

Sterling Set for Significant Fall, Says Experienced Investment Advisor

In an interview with CNBC journalists on Thursday, Beat Wittmann of Porta Advisors – a man with more than 30 years of investment experience, including time spent at UBS, Credit Suisse and Julius Baer – expressed his belief that the British pound is set for further significant falls over the coming year as a result of an “erosion of consumer and investment confidence” in the UK, caused in large part by political, economic and overall Brexit-related uncertainty. View article >

Greenback Slips in Quiet Trade

Categories: AUD, CAD, CHF, EUR, GBP, Markets, News, NZD, USD
The US dollar is starting the New York session with tiny losses across the board in an uneventful overnight session. AUDUSD and NZDUSD inched higher, supported by a bit of a bounce in oil prices. NZDUSD is still receiving help from RBNZ’s non-doveish stance. Nevertheless, NZDUSD is still lower than it was on Monday in Asia. AUDUSD is well below Monday’s level as well. View article >

Sterling Strengthens as May Discusses Expat Rights at EU Summit

Categories: AUD, CAD, EUR, GBP, Markets, News, NZD, USD

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) rallied against the majority of its peers this morning following an EU summit dinner yesterday evening. After the dinner May outlined her plans to allow 3m EU citizens to remain living in the UK after Brexit, with German Chancellor Angela Merkel calling her plans a ‘good start’. Expat rights remain a major hurdle in the UK’s Brexit negotiations, but with the positive reaction to May’s ‘fair and serious’ offer the PM’s plans are likely to bolster confidence that the ongoing talks will progress smoothly. View article >

Australian Dollar Outlook: Citi Prediction for Lower Iron Ore Prices Suggests Long-Term Decline in Currency’s Value

To the glee of those holding Australian currency or AUD denominated assets, in recent weeks the Australian dollar has reversed its second-quarter trend. Having fallen almost 5.5% between late March and mid-May, largely because of a tumble in the price of Australia’s largest export, iron ore, the AUD/USD exchange rate has spent much of the last month rallying. In fact, as of writing a little before 5am GMT on Friday, with the exchange rate for AUD/USD at 0.755, the pair has clawed back roughly half of the aforementioned loss. View article >

Twitchy Traders Tracking Crude

Categories: AUD, CAD, CHF, EUR, GBP, Markets, News, NZD, USD
It has not been a stellar week for top tier economic data in Europe or the US. Traders are left scouring headlines and charts for something to justify their trades. They found it in oil, “Texas tea,” black gold”. However, they didn’t load up the truck and move to Beverley; Hills that is; swimming pools movie stars. Instead, the bought Japanese yen, gold and USDCAD. View article >

Hawkish Haldane Sows Division in BoE, Bank to Hike Rates by End of the Year?

Categories: AUD, CAD, EUR, GBP, Markets, News, NZD, USD

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) rallied against most of its peer’s midday on Wednesday as Bank of England chief economist Andy Haldane revealed he was close to voting for a rate hike in last week’s monetary policy committee meeting. While Sterling’s rally was short lived against some of the majors, the news excited investors as the usually dovish Haldane suggested that interest rate would likely need to rise by the end of the year if inflation continued accelerating at its current pace. View article >

Hong Kong Authorities Post Warning on “Dangerous Situation” in Housing Market and RBNZ Keep Cool on Interest Rates

“We have to warn our people about the dangerous situation of the property market,” said Hong Kong’s Financial Secretary, Paul Chan, today. In an interview with Bloomberg’s Haslinda Amin, Chan expressed concern about a potential housing market correction in Hong Kong, which is currently the world’s most expensive city for property. In 2016, Hong Kong stood atop Knight Frank’s Prime International Residential Index with USD 1 million buying a home averaging just 20.6 square metres. View article >
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