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The Malaysian ringgit has been one of Asia’s worst performing currencies for some time. Between May-2013 and September-2015 the exchange rate for MYR/USD declined from highs at 0.338 to 0.223 – a 34% fall in the currency’s value. Markets gave the ringgit some respite between October-15 and April-16, a period in which the ringgit clawed... View article >
FX markets woke up in Europe after a sleepy Asia session, their slumber disturbed by a deluge of data from the Eurozone. EURUSD inched lower in Asia, falling from 1.0884 to 1.0857 where it found itself when Europe opened. Mixed to better than expected German data including a 2.3% rise in Retail Sales for March... View article >
Sterling GBP/USD 1 Week Chart The Pound (GBP) trended higher against the other majors overnight on Thursday as investors reacted poorly to news from the European and US markets. Sterling was also strengthened this morning as the Bank of America revised its forecast for the Pound this year, suggesting GBP/USD will hold at around $1.25.... 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... View article >
USDCAD had a wild and woolly overnight session and that was thanks to President Trump and his administration’s trade policy communication. On Wednesday, USDCAD was climbing due the new US softwood lumber countervailing duties, the threat to the dairy industry, falling oil prices, a doveish Bank of Canada and M&A flows. The nail in the... View article >
Sterling GBP/USD 1 Week Chart The Pound (GBP) pushed higher against the majority of its peers this morning as investors flocked to Sterling after the disappointing release of Donald Trump’s long awaited tax reforms. Meanwhile the Pound continued to be strengthened by the upcoming general election as markets predict that a larger majority for the... View article >
What a difference a week can make! The nagging doubts starting late March when the Euro was seen as the riskiest currency on the planet until after Sunday’s French election, now the Euro is suddenly everyone’s favorite and perhaps people are starting to consider how much more they will need to budget to send their... 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... View article >