Forex and the Economy

USD/CAD – Canadian Dollar Inches Higher, Investors Search for Cues

The Canadian dollar has ticked lower in the Friday session. Currently, USD/CAD is trading at 1.2715, up 0.05% on the day. On the release front, there are no major indicators. Canada releases Corporate Profits, and the US will publish manufacturing and services PMIs. Janet Yellen is winding up her t ...

USD Lower Again as Week Drifts to a Close

Quiet Post-Thanksgiving Session Expected US investors return briefly from the Thanksgiving bank holiday on Friday, although the session is likely to be very quiet given the early market close and the lack of events on the calendar. In the past, this has been a very quiet day and I don’t expect th ...

EUR/USD – Euro Ticks Higher as German Business Confidence Beats Expectations

The euro has posted slight gains in the Friday session. Currently, EUR/USD is trading at 1.1866, up 0.13% on the day. On the release front, German Ifo Business Climate improved to 117.5, above the estimate of 116.6 points. There are no major events in the US. The German economy continues to perfor ...

Despite easing today the Yuan is on a roll

SHANGHAI, Nov 24 (Reuters) – China’s yuan weakened against the U.S. dollar on Friday, with strong corporate demand supporting the greenback but the Chinese currency is on course for its best week in more than a month. Prior to market opening, the People’s Bank of China (PBOC) set the official ...

Ringgit Consolidates into the weekend

KUALA LUMPUR, Nov 24 — At 9am, the local unit was traded at 4.1180/1210 against the greenback from yesterday’s close of 4.1050/1100.  OANDA Head of Trading Asia-Pacific Stephen Innes told Bernama that the ringgit was on the upside, the past few days, but opened easier against the US dollar ...

Ringgit appeal

Currency traders are pricing in a rate hike by Bank Negara Malaysia (BNM) as early as January next year, and the current wind behind the ringgit could see it strengthening further against the greenback. The local unit closed at a fresh year-high of RM4.11 against the US dollar yesterday, bolstered ...

USD limps out of Thanksgiving Holiday ” Wobble Wooble”

USD limps out of Thanksgiving Holiday ” Wobble Wobble.” As to be expected the overnight session was very quiet as is typical with most US Traders off to celebrate Thanksgiving.However, if you were long EURUSD, there was much to be thankful as the single currency continued to gather steam and ee ...

Gold Has Been on A Tear All Year - Rory Hall

November 23, 2017 The way gold has been moving the past few weeks, it’s easy to overlook the 11% growth it is enjoying during 2017. As we move towards year end , we see gold has been flat while suffering attack after attack from the banking cabal. The charts over the past ten trading day have t ...

Gold Quiet as US Markets Closed for Thanksgiving

Gold is showing little movement in the Thursday session. In North American trading, the spot price for an ounce of gold is $1291.23, down 0.08% on the day. U.S markets are closed for the Thanksgiving holiday, and there are no U.S events on the calendar. Federal Reserve policymakers remain upbeat ab ...

GBP/USD – Pound Rises to 5-Week High as GDP Improves

The British pound moved higher earlier in the Thursday session, but has given up these gains. In North American trade, GBP/USD is trading at 1.3304, down 0.14% on the day. On the release front, it is a busy day in the UK. British Second Estimate GDP edged up to 0.4%, matching the estimate. Prelim ...