Currency Markets Volatile on Energy, China Debt and Inflation
Property debt crisis in China, central bank bond policy and the energy crisis are combining for a volatile October - it is ever thus!
Next Crises: China Property plus European Energy shake Currency Markets
Fears Chinese mega developer Evergrande’s collapse will spark a contagion event and the ongoing European gas crisis has hit confidence.
Rupee loses recent gains – Aussie dollar comeback
The FX markets turns risk-off after less new jobs were added in the US last month than expected.
Oil drop hits loonie and peso – FX Volatility returns
Volatility returned to the currency markets last week with the Australian and New Zealand Dollar falling the hardest against the Greenback (both down 1W -3.0%).
RBNZ seen to be the first to hike rates – Boosts Kiwi dollar
Speculation abounds on whether the RBNZ will be the first to hike rates, this helped the NZD to rise to 1 year highs versus the Aussie dollar.
USD boosted by unexpectedly strong job creation in July
Last week’s big event was the strong US Non-Farms Payrolls report for July.
Pound bounces back – Aussie at Lows on Pandemic lockdowns
The British Pound GBP was a mover and shaker last week, hitting HIGHS against both the USD (30-DAY), EUR (90-DAY) and other major FX.
Pound weak on Uncertain Way Out from Lockdown – CAD and USD strong
The way out from the UK’s experiment of lifting most lockdown measures is far from certain.
NZ and Canada central banks shift outlooks
Currency markets move when both the Reserve Bank of New Zealand and the Bank of Canada shift on their bond buying plans and interest rate outlooks.
Aussie volatile on Delta outbreak – Greenback weaker
The growth outlook for the Australian economic became pessimistic when more lockdowns were announced due to rising COVID-19 cases in Sydney.
Jobs Report – US dollar Buy Rumour Sell Fact
US Non-Farm Payrolls report was a mixed result - the Unemployment Rate moved higher but Wages slipped.
USD to CAD Forecasts
Canadian dollar has gone from best performers of 2021 to one of worst. Although it has recovered somewhat, against the greenback, since its mid-year lows.
Fed inflation divisions pulls back US dollar
Fed Officials mixed opinions following last week’s hawkish bent reduces markets perception of sooner rate rises.
US Fed growth forecasts upsets currency markets
Last week the US Federal Reserve moved its growth forecasts higher and brought forward the timing of its interest rate hikes to 2023.
European Central Bank casts no fresh clues
Review of Currency Market trends and news from last week.
US jobs shock on Friday hits USD; Positive for AUD, CAD, EUR, GBP
Friday was a volatile day in currency markets after a much weaker than expected US jobs report was released.
USD regains ground after April drop
In May the US dollar has regained some of the ground it lost last month when it had its longest stretch without gains against a basket of peers in nine months.
Bank of Canada Exchange Rates
The Bank of Canada sets interest rates to attempt to keep inflation low and stable and influence the value of the Canadian dollar to help the economy.
FX tailwinds shift from USD to AUD and EUR
Softening US Treasury yields surprised the markets last week, shifting tailwinds away from the US dollar towards risk-on currencies.
FX Markets Volatile on Post-Covid USD Forecasts
The strong US stock markets and higher yields from treasury bonds may be the catalyst for strong swings for currencies versus the USD.
CAD to INR Forecasts
In 2021 forecasts and predictions for the CAD/INR exchange rate are driven by the energy crisis and lingering effects of the Coronavirus pandemic rather than any fundamentals or relative sentiment towards the Canadian and Indian economies.
CAD to GBP Forecasts
In 2021 forecasts and predictions for the CAD/GBP exchange rate have been driven almost entirely by the Coronavirus pandemic rather than any fundamentals or relative sentiment towards the Canadian and British economies.
CAD to EUR Forecasts 2021
In 2021 forecasts and predictions for the CAD/EUR exchange rate are driven by the improved oil price and relative recovery from Coronavirus pandemic rather than any fundamentals or relative sentiment towards the Canadian and Eurozone economies.
Canadian dollar CAD Forecasts for 2021
Forecasts for the Canadian dollar change all the time, affected by news events and relative sentiment towards the Canadian economy.
Markets Volatile after US Election & Vaccine news
The recent period has been volatile for currency markets tossed about by US election uncertainty, stimulus spending doubts and both good and bad news from the COVID-19 frontline.
US Dollar could jump 3 percent vs Euro on Trump win; Parisians flee lockdown
The Euro is slumping as France and Germany resume national lockdowns to combat surging second-wave Covid cases.
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Coronavirus panic drives US dollar strength
Currency rates were extremely volatile last week as the coronavirus situation worsened day by day with various countries implementing ever-tougher measures to stop the spread of the disease.
Coronavirus unnerves currency markets
The strong start to the year for "risk-on" currencies is already a distant memory.
New Year Optimism Retreats on US/Iran Tension
The threat of a proxy war between the US and Iran in Iraq has pared back some of the recent gains of "risk-on" currencies.
Canadian Dollar in the Spotlight After Surging to 16-Week High
Lifted by oil, economic data and the Fed, the Canadian dollar has soared against the US dollar to a 16-week high and has reached even more impressive milestones against the pound, euro and Australian dollar.
Booming Commodities Can’t Save Australian Dollar
The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.
Canadian Dollar Shockingly Undervalued, Analysts Say
The Canadian dollar might be worth considerably more towards the end of this year based on research by Scotiabank analysts who describe the currency as being “egregiously” undervalued.
Dollar Turbocharged by Economic Data; At Long-Term High Versus Euro, Franc and Krona
A turbocharged US dollar is likely to be “stronger for longer” after reaching long-term highs against a host of major currencies, including the euro, Swiss franc and Swedish krona.
Canadian Dollar to Lose a Further 5 Percent, Will Soon Buy Only US$0.71 (TD Securities)
Prospects for the Canadian dollar have turned “considerably to the downside” and the currency is likely to lose 5 percent of its value this year, TD Securities has said.
Canadian Dollar Still Friendless After GDP; Fair Value Much Lower
After a friendless Friday, the Canadian dollar has continued to lose value at the start of the new week. Now worth C$1.332 per USD, the loonie is at a 12-day low, but it has far further to fall if CIBC’s fair value estimation of C$1.4 is anything to go by.
Euro Struggles on Increased Recession Risk; Rand Outlook Worsens After Central Bank Changes Tune on Interest Rates
The euro is under siege following disappointing data and news this week that Germany barely escaped a recession in 2018. The ECB will now wait longer before raising interest rates, analysts say; however, EUR/USD will still end the year higher. In South Africa, a prediction by the country’s central bank that interest rates will be raised only once before 2021 put an end to the rand’s great start to the year.
Australian Dollar, Canadian Dollar to Outperform; Yuan at 5-Month High
The Australian dollar has rallied strongly following last Thursday’s “flash crash” and, like the Canadian dollar, is expected to outperform its peers in the near term. Investors remain willing to take on risk but the US dollar remains soft. In Asia, the yuan is expected to weaken beyond ¥7 within the next 6 months.
USD Nears Peak; Oil Rebound to Send CAD Higher, INR to Record Low
For the US dollar, analysts are predicting significant weakness in 2019. In contrast, the Canadian dollar will likely strengthen amid an energy market rebound, but under the same conditions the Indian rupee will slide to a record low. Cryptocurrencies, meanwhile, are trading higher but fail to inspire confidence.
Undervalued Australian Dollar Higher in 2019 (CIBC); Franc, Yen at Multi-Month Highs on Haven Demand
There’s been no letup over Christmas for the Australian dollar, which continues to threaten the 70-US cents handle. The Aussie may appreciate as high as 78 cents in 2019, an expert has said. Meanwhile, safety-driven inflows have forced the franc and yen much higher, but oil prices continue to weigh heavily on the Canadian dollar.
US Dollar Posts Worst Day in 7 Weeks After Fed Cuts Interest Rate Forecasts
The US dollar was sold heavily on Thursday in the aftermath of midweek announcements by the Federal Reserve. Though the Fed raised US interest rates by 25 basis points, as widely expected, it lowered its expectations for rate hikes in 2019, to the disappointment of dollar investors.
Australian Dollar Lacks Inspiration Following RBA Minutes, Looks Cheap Versus CAD, JPY
The Australian dollar continues to stagnate in the aftermath of Monday's RBA meeting minutes and ahead of this week’s meeting of the US Federal Reserve. Barring surprises, the Aussie is likely to remain well supported against the British pound, Canadian dollar and Japanese yen.
Canadian Dollar the Star After Canada Adds 94k Jobs; Expect Bitcoin at $1,500
The Canadian dollar made widespread gains on Friday after Canada announced its largest increase in employment in 6 years. Meanwhile, the Australian dollar fell for a fifth day and cryptocurrencies continue downwards. In the absence of more robust earnings growth, traders shouldn’t expect much from the US dollar, CIBC has said.
Canadian Dollar at Cheapest in 18 Months; Buy It Now Ahead of 2019 Rebound
The Canadian dollar fell sharply following Wednesday’s meeting of the Bank of Canada, at which the Bank appeared to imply that interest rates would rise at a slower pace than previously expected. The loonie will, though, see a great deal of support in 2019, experts have said.
Petro-Currencies Struggle Amid Oil Market Plunge
Undoubtedly, the speed at which the oil market has reversed has shocked foreign exchange traders as much as it has those in the commodities space. Currencies from economies that depend on oil exports can only do so much amid what is now an energy market rout. With Tuesday bringing a twelfth consecutive day of losses for oil, the Canadian dollar, Norwegian krone, Malaysian ringgit and Mexican peso all fell to multi-month lows.
AUD, NZD Lead the Pack; No Imminent Recovery for CAD (SocGen)
The Australian and New Zealand dollar currencies were way out in front this week on the list of top performing FX majors. The Canadian dollar, meanwhile, continues to suffer from what is now a technical bear market in crude oil. Sterling is again under Brexit-related pressure amid reports of potential UK ministerial resignations.
GBP, AUD, NZD Jump as UK-EU Reach Deal on Financial Services
The mood was buoyant in foreign exchange markets on Thursday following news that the UK has achieved a deal with the EU on financial services that would give London’s banks continued access to European markets post-Brexit. Together with the pound, currencies that benefit from the switch to “risk on,” like the Australian dollar and New […]
Canadian Dollar Gets Interest Rate Boost; Rand Dips on Budget Disappointment
The Canadian dollar received a significant boost on Wednesday after the Bank of Canada said it would “need to raise [interest rates] to a neutral stance to achieve the inflation target.” As widely expected, the BoC also hiked its benchmark rate by 25 basis points to 1.75 percent. The Canadian dollar strengthened by nearly a […]
Canadian Dollar’s Near-Vertical Rally Continues as US-Canada Reach Trade Deal
What started last week as a data and OPEC-driven rally has become something of a rout, with the Canadian dollar battering other currencies again on Monday following news that Canada and the United States, together with Mexico, have finally agreed a trade deal.
Australian Dollar Set for Double-Digit Rally; Will Be Worth 82 US Cents Next Year! (UBS)
UBS has added themselves to a growing list of experts predicting a broad recovery in the Australian dollar. Against the US dollar, the bank is offering a consensus-busting Aussie forecast of $0.82 for 2019 year-end, indicating a 14 percent rise from current levels.
Australian Dollar Has Best Week in 9 Months; Sterling Has a Shocker
A gain last week of 1.9 percent marked the Australian dollar’s best weekly performance versus the US dollar since December. The Aussie rebound continued with a touch of the $0.73 handle on Friday. Australia’s currency had been worth less than $0.71 just 10 days earlier. It settled for the week at $0.7285. Further to gains […]
Ruble Heading Higher After Surprise Rate Hike; Canadian Dollar Upside Limited, Warns MUFG
The Russian ruble climbed to a nine-day high on Friday after the Russian central bank surprised markets with a 25-basis-point increase in interest rates. In other news, MUFG are reminding traders not to expect too much from the Canadian dollar upon a US-Canada trade deal, which draws closer.
AUD, CAD and NZD Continue to Fall
A better-than-expected print for Australian GDP growth was unable to prevent further Australian dollar weakness on Wednesday. After a short-lived jump on the 0.9 percent second-quarter reading (0.7 percent growth expected), the Aussie fell early in the European session to a two-year low of 71.45 US cents. In the hours following GDP, it also lost […]
Frightening FX Losses in Argentina; SNB Might Intervene to Weaken Franc
The currency situation in Argentina is becoming desperate. In a single three-hour period on Thursday, the Argentine peso shed 19 percent of its value as it slid to 41.47 to the dollar. The peso had already lost 45 percent since January. With the peso’s spiral downwards, default risk in Argentina moves ever higher, resulting in […]
Loonie Makes Most of US-Mexico Trade Deal but Will Struggle from Here, Says TD
The past 24 hours in markets have been dominated by news that the US and Mexico have reached a preliminary trade deal. The Mexican peso initially gained as reports came in but now trades at pre-announcement levels. The Canadian dollar gained handsomely but is set to struggle from hereon in according to Toronto-Dominion Bank.
Stunning Inflation Print Makes CAD’s Day; MXN Firms on Trade Agreement Hopes
The Canadian dollar gained across the board on Friday on the back of stunning inflation data that smashed market expectations. Meanwhile, the Mexican peso continues to be this year’s best performing currency; it firmed again on Friday on rumours that Washington would soon agree to a compromise on Mexican farm exports.
Canadian Dollar at Multi-Month Highs; NZD/CAD Sinks to Lowest Since December
Entering the second trading week of August, the Canadian dollar remains at or near multi-month highs against many of the world's major currencies. The "loonie" has been well supported since the end of June following a hawkish repricing of Canadian interest rate expectations.
FX Markets Subdued Despite Trump-EU Deal to Avoid a Trade War
Trade tensions were eased on Wednesday after the US announced it had agreed to work towards zero tariffs on “non-auto industrial goods” with the European Union. Unlike equity markets, which rallied strongly on the news, FX markets were little changed on Thursday morning.
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USD/CAD to Trade at 1.35 on Interest Rate Surprise
The Canadian dollar will weaken to 1.35 to the US dollar should the Bank of Canada surprise investors on Wednesday by keeping interest rates on hold, says the latest research report from BNP Paribas.
Travelex Canada Exchange Rates – BER Review
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Will It Be a Sweet or Sour June for the US Dollar?
June has, for the past decade, been a month in which the US dollar comes unstuck. Per the Dollar Index (DXY), the dollar has lost value in eight of the past ten Junes, and in one of the two profitable years, holders of dollars would have had to suffer a 3 percent intra-month drawdown to […]
Trump Slaps Tariffs on Allies but Calm Prevails Ahead of US Jobs Data
The big news for investors on Thursday was Washington’s confirmation that steel and aluminium products reaching the US from Europe, Canada and Mexico – all important allies – would be subject to trade tariffs. Foreign leaders raged against the decision and announced plans for immediate retaliation. On Tuesday, Washington had already announced tariffs on $50 […]
Canadian Dollar Jumps on Hawkish BoC; USD/CAD to Reach 1.18, Says Goldman Sachs
The Canadian dollar jumped on Wednesday following a surprisingly hawkish statement from the Bank of Canada. USD/CAD, which had been trading at levels above 1.3, fell sharply in the two hours following the BoC’s monthly meeting to 1.2835, at which it still trades at the time of this report (17:00 Singapore, GMT +8). The Canadian […]
Sterling to Remain Steady but Bitcoin, Canadian Dollar Face Difficult Times Ahead
Little has been felt in foreign exchange markets from the UK’s recent political entanglement with Russia, which escalated last week with a tit-for-tat expulsion of diplomats. The pound gained last week against both the dollar and euro and will remain steady for the foreseeable future, according to the collective opinion of FX analysts surveyed by […]
Thai Baht Spurred On by Tourism; Rallies to 4-Year High Versus Dollar
Fuelled by an improvement in risk appetite and a pick-up in the number of foreign visitors to Thailand, the baht climbed on Wednesday to a four-year high of 31.1 per dollar. In doing so, the baht solidified its position as Asia’s best performing currency of the year. Volatility in the baht had dried up in recent […]
Canadian Dollar at 2-Year Low Versus Euro as Washington Imposes Steel, Aluminium Tariffs
The Canadian dollar is on course for its worst weekly performance in more than a year as traders reassess their exposure to the currency in response to new US trade tariffs, slower economic growth and a softer oil price. At the end of the Asian business week and with much of Friday’s European session already […]
BER-News: Bitcoin below $US10K mark (again)
Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week. Last week: majors all down Aussie dollar (AUD) was down last week, retreating from US0.80 cents, on Australia’s disappointing rise in private sector wages, their massive contraction […]
BER-News: Cryptos hung onto recent gains.
Last week’s much-improved US inflation data had the desired effect on US rate expectations which have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. Ordinarily, such a revision to expectations would fuel a transfer of hot money into US dollars, yet dollar traders continue to chart their own […]
FX Calm Amid Broader Market Carnage; Dollar, Yen and Bitcoin Benefit
During a week which saw global equity markets suffer their largest losses in two years and broader market volatility pick up, foreign exchange markets were surprisingly calm. A flight to safety benefitted the US dollar, which finished higher against a basket of currencies for the second consecutive week; and the Japanese yen, which at one […]
Bitcoin at $8,000 as Regulators and Facebook Strangle Optimism
Bitcoin’s tumble continued on Friday, with the cryptocurrency falling at one stage by fifteen percent to just $7,960 – sixty percent lower than December’s high just shy of $20,000 ($19,891). An afternoon rebound saw bitcoin end the day close to $8,600 but that did little to improve sentiment in the face of scrutiny from regulators […]
Dollar Doldrums: USD Suffers Worst Day in 10-Months Despite Pick-Up in Core Inflation
The U.S. Dollar Index (DXY) suffered its worst one-day decline in ten months on Friday in spite of an unexpected acceleration in the rate of core inflation and what appeared to be an upward revision to U.S. interest rate expectations. After the Bureau of Labor Statistics announced that U.S. consumer prices, excluding food and energy, […]
CAD Steals Headlines from Dollar on Dramatic Employment Boost; Asia-Pac Currencies Make Sweeping Gains
The U.S. dollar was upstaged by its Canadian counterpart on Friday following the release of some spectacular Canadian employment data. Statistics Canada said on Friday that the nation’s unemployment rate fell in December to just 5.7% – the lowest rate in forty years – and that Canadian businesses added 78,600 new jobs. Ahead of the […]
Canadian Dollar, Australian Dollar at 10-Week Highs on Commodities Strength; Rand and Ringgit Impress
The Canadian dollar climbed on Friday to its highest level in ten weeks on the back of an impressive end-of-year rally in the prices of oil, copper and gold. Other commodities-sensitive currencies like the Australian dollar, South African rand and Malaysian ringgit, among others, were also well supported. As WTI crude oil reached a two-and-a-half-year […]
Korean Won at 7-Week High, Canadian Dollar Suffers and ECB to Announce Plans for QE
The South Korean won climbed to a seven-week high against the dollar on Wednesday (a USD/KRW low) of 1123.3 after third-quarter GDP data showed South Korea’s economy growing at its fastest pace in seven years. Third-quarter growth of 1.4% was well above the median estimate of 1.0% and an improvement on second-quarter expansion of 0.6%. […]
Citi Bank Goes Against the Grain; Predicts Bank of Canada Rate Hike on Wednesday
As reported on Friday, the Canadian dollar ended last week with its largest one-day drop against the US dollar since January following disappointing economic data. The data signalled to markets that the Bank of Canada would hold steady on interest rates – currently at 1.0% – at its meeting on Wednesday, and the probability implied […]
Canadian Dollar Falls Hard After Grim Sales Data Dents Rate Hike Expectations
The Canadian dollar weakened on Friday by the most in nine months against the US dollar after indicators of inflation and consumer activity in Canada fell below market expectations. The “loonie” fell as investors adjusted their portfolios to reflect a lower probability of the Bank of Canada raising interest rates at its October 25th meeting. […]
Mexican Peso and Canadian Dollar Jump After NAFTA Trade Talks Extended
On Tuesday, the Mexican peso had its best day since June and the Canadian dollar rallied after news broke that NAFTA negotiations between the US, Mexico and Canada would be extended into 2018. The peso and “loonie” initially weakened on reports that Mexico and Canada would refuse to yield to US demands and that negotiations […]
A Higher Australian Dollar Poses No Problems for Exporters, Says Treasurer
Australian Treasurer Scott Morrison expressed no discomfort with the current valuation of the Australian dollar this weekend. In an interview with Bloomberg TV, Morrison said that Australian exporters had adapted to a currency that was now 9.3% higher against the US dollar ($0.7873) and nearly 4% higher against the Chinese yuan (¥ 5.1954) than it […]
US Jobs Report Best Ignored as Hurricanes Wreak Havoc on Economic Data; Dollar Flip-Flops
Wow. What a confusing jobs report. The most important economic data release of the month caused flip-flopping in the US dollar on Friday as a decline in US jobs was offset by solid readings for earnings growth and unemployment. The US Bureau of Labor Statistics said on Friday that non-farm payrolls fell by 33,000 in […]
ABM Amro Has “Strong Conviction” on Future Dollar Weakness; Predicts 12 percent Rise in AUD and NZD
New forecasts from Dutch bank ABN Amro see continued weakness in the US dollar heading into and throughout 2018. “We have a strong conviction that the US dollar has entered a multi-year downtrend,” said ABN’s Georgette Boele. The dollar will be hardest hit against “growth sensitive and commodity currencies,” according to the bank, which include […]
Sterling Soars, Yen the Casualty at the End of Eventful Week
The British pound rose on Friday to its highest level against the dollar since the UK’s historic ‘Brexit’ vote in June of last year. By lunchtime in London, the pound was buying $1.3616, capping a brilliant fortnight in which it has risen from rates close to $1.29. On minor profit taking, the currency settled back […]
Asian Currencies Plunge Against CAD After Bank of Canada’s Surprise Rate Hike
To the surprise of many, the Bank of Canada raised interest rates on Wednesday to 1.0%, from 0.75%, which sent currencies in the Asia-Pacific region tumbling against the Canadian dollar. The Bank of Canada had been expected to raise the cost of borrowing again this year, following a quarter-point hike in July, but most analysts […]
Canadian Dollar the Star as US Data Fails to Deliver
A pick-up in the US manufacturing sector wasn’t enough to offset a weak employment report on Friday and to prevent the US dollar from sliding to a 26-month low against the Canadian dollar. CAD/USD rallied ahead of the release of the US Labor Department’s August data on expectations of a soft report. It then jumped […]
CAD, AUD, NOK, BRL End the Week Strong After Oil Jumps on Further Bullish News
A near-$2 rise in the price of oil supported the so-called ‘commodities currencies’ on Friday, many of which gained close to a percent against the US dollar and made respectable gains against the euro and Japanese yen. Oil’s 3.9% rise to $48.74 per barrel (NYMEX crude futures, September delivery) followed news that US and Canadian […]
Drama in Asia as the Yuan Spikes to 10-Month High Amid Speculation of a Wider Trading Band
Tuesday’s Asian session was stirred by a surprise surge in the Chinese yuan. Starting around 9:30am in Beijing, the yuan began rallying strongly against the dollar, with offshore rates declining (the yuan strengthening) to 6.7024 by 1pm, from rates earlier in the session around 6.73. Onshore yuan easily broke the 6.7 level and as of writing […]
Dollar Has Best Day Since January After Solid Jobs Report
The US dollar ended the week on a high, posting its best day in more than six months following Friday’s solid US employment data. The US Dollar Index (DXY) surged from levels in the high 92s to the high 93s after the US Bureau of Labor Statistics said that non-farm payrolls had risen by 209,000 […]
Canadian Economy Is Red Hot, Further Rate Hikes Likely to Boost CAD
In stark contrast to the US dollar, which continues to suffer, the Canadian dollar is offering investors nothing but hope at present. The Canadian dollar was the best performing FX major in June and with only one trading day left of the month looks certain to take that crown again in July. Despite taking a […]
New Zealand Dollar Hits 1-Month Low Versus EUR and GBP, 3-Month Low Versus CAD
The New Zealand dollar continued yesterday to retrace its broad May-June uptrend, falling to a one-month low against the British pound and euro, and to a three-month low against the Canadian dollar. NZD/GBP, NZD/EUR and NZD/CAD fell to 0.5583, 0.6293 and 0.9305 respectively. Although the kiwi has fallen across the board in recent weeks, it […]
Canadian Dollar Surges as Central Banker Hints at Rate Hike and Hong Kong Dollar Hits 16-Month Low
Very early this morning in Asia, Bank of Canada (BOC) Council member Carolyn Wilkins lit a fire under the Canadian dollar with her remarks to an audience at the Asper School of Business in Winnipeg, in which she hinted at a possible rate hike by the BOC. Wilkins said that “as growth continues…the Governing Council […]
New Zealand Dollar Strength Continues, Reaches 7-Month High vs. Canadian Dollar
The New Zealand dollar was the best performing of the FX majors in May. By the month’s end, the currency had gained 2.9% against the US dollar, beating a resurgent euro, which gained 2.6%, into first place. The rapid appreciation of New Zealand’s currency, which has been attributed by Citi Bank to improving trade, strength […]
Gulf Crisis Begins and RBA in Focus
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 […]
US Dollar Index Falls to 7-Month Low on Poor Jobs Data
The US dollar fell across the board yesterday and the Dollar Index (USDX/DXY) fell to 96.67 – its lowest in nearly seven months – following a highly disappointing US jobs report. For traders, the monthly report, which includes numbers for US non-farm payrolls, average hourly earnings growth, as well as the unemployment and participation rates, […]
New Zealand Dollar Is Best Performer in May but Big Bank Predicts Lower Value Ahead
Of the FX majors, the New Zealand dollar has been the best performer in May. At the end of yesterday’s New York session, with NZD/USD at 0.754, the pair is up 2.9% since May 1st. By comparison, the kiwi’s closest cousin, the Australian dollar, is down 0.5% against the US dollar. The New Zealand dollar […]
Dollar Battered and Fed Rate Hike in Doubt as Trump Jolts Markets
The likelihood of a US rate hike in June is falling fast, as is the US dollar. Just one week ago, the implied probability of the Federal Reserve hiking US interest rates at next month’s meeting – a probability derived from prices in Fed funds futures contracts – stood near 85%. As of Monday, that probability had […]
Commodities Support AUD, NZD, INR and Thai Baht Boosted by Better Than Expected GDP
The price of WTI crude oil rose by almost a dollar yesterday to $48.79 – it’s sixth daily gain in the past seven – and prices in the futures market for 62% iron ore held above $60 per metric ton, both of which gave a boost to commodities currencies. Oil rallied after energy ministers from […]
Dollar Falls Despite Positive Jobs Data and Crumbling Commodities Still Taking Their Toll
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 […]
Fed and Economic Data Add to a Terrible Day for Australian Dollar
Yesterday on BestExchangeRates.com, we suggested that now might be the time to change your Australian dollars into Canadian dollars, having seen the Aussie’s buying power reach 6-month highs on Tuesday. Those words now seem prophetic, given what we saw yesterday in Australian dollar exchange rates. The Australian dollar tumbled across the board yesterday, including against […]
AUD/CAD at Six-Month Highs, Is It Time to Get Some Loonie?
Among the FX majors, the Australian dollar and Canadian dollar are considered the most important ‘commodity currencies’, which is to say that the fortunes of each are heavily influenced by changes in the price of commodities or by their respective nation’s ability to sell them. Canada is the world’s sixth-largest oil producer, with oil making […]
Three in a Row for Japanese CPI Growth and Trump Pantomime Continues
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 […]
A Big Increase in the Yen Is Coming, Says Analyst at Investment Bank
The probability of a significant appreciation of the Japanese yen in the coming weeks has increased substantially, at least according to Georgette Boele, coordinator of FX strategy at Dutch banking group ABN Amro. In the bank’s latest update on markets, Boele points to factors such as the Federal Reserve’s plans for significant balance sheet reduction […]
World First’s selection of 11 global events for sports lovers in 2016
A new year brings a wealth of sporting delights around the world, from Euro 2016 to the Invictus Games. Here at World First, we help people transfer money around the world. Some of the people we help in 2016 might be out in the US for the Ryder Cup golf, and enjoy it so much […]
World First’s list of 101 things to do around the world in 2016
Want to do something different in 2016? We’ve scoured the world for the biggest, messiest, noisiest, most iconic and, frankly, the weirdest events around the world to compile the ultimate list of 101 things to do around the world in 2016. From sport to music, festivals to the weird and wonderful, we’ve got you covered. […]
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