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The US Dollar (USD) weakened last week, but the Euro US Dollar (EUR/USD) exchange rate still ended up falling throughout...
21/03/2021

The US Dollar (USD) weakened last week, but the Euro US Dollar (EUR/USD) exchange rate still ended up falling throughout the week. Investors remain hesitant to buy the Euro (EUR) due to concerns over the Eurozone’s coronavirus outlook.

After opening last week at the level of 1.1953, EUR/USD spent most of last week trending lower.

In the middle of the week, EUR/USD briefly rebounded and touched on a weekly high of 1.1986. However, the key level of 1.20 remains beyond EUR/USD’s reach, and the pair trended lower in the region of 1.1886 before markets closed for the week.

Throughout the coming week, Eurozone confidence data and US growth rate data could drive movement in the Euro to US Dollar exchange rate.

As the Bank of Japan (BoJ) made moves to reduce its monetary stimulus programme the Pound to Japanese Yen (GBP/JPY) exch...
21/03/2021

As the Bank of Japan (BoJ) made moves to reduce its monetary stimulus programme the Pound to Japanese Yen (GBP/JPY) exchange rate was left on the back foot.

The central bank’s announcement that it would allow greater fluctuation in bond yields, moving towards a more ‘sustainable’ stimulus policy, the appeal of the Japanese Yen (JPY) improved.

While this move does not represent a massive shift in policy the move away from the BoJ’s more aggressive stimulus approach gave investors greater cause for confidence.

Even though the UK GfK consumer confidence index bettered forecasts, jumping from -23 to -16 in March, this was not enough to shore up demand for Pound Sterling (GBP), meanwhile.

TOKYO (Reuters) - The U.S. dollar gave up early gains on Friday as Treasury yields dipped from near 14-month highs, whil...
21/03/2021

TOKYO (Reuters) - The U.S. dollar gave up early gains on Friday as Treasury yields dipped from near 14-month highs, while investors digested the Federal Reserve's pushback against expectations of any early interest-rate hikes.

The dollar index was down about 0.1% at 91.689 after rising as much as 0.2% in early Asian trading.

The euro gained versus the dollar after posting its worst day in two weeks on Thursday. The British pound rose 0.1% to $1.3951.

The Federal Open Market Committee (FOMC) pledged this week to press on with aggressive monetary stimulus, saying a near-term spike in inflation would prove temporary amid projections for the strongest U.S economic growth in nearly 40 years.

The benchmark U.S. 10-year yield climbed to a more-than-one-year peak of 1.754% overnight before easing to 1.6821%.

Inflation was back in focus this morning. In February, core consumer prices fell by 0.4%, year-on-year, which was in lin...
19/03/2021

Inflation was back in focus this morning. In February, core consumer prices fell by 0.4%, year-on-year, which was in line with forecasts.

In January, core consumer prices had fallen by 0.6%, year-on-year.

Consumer prices also fell by 0.4%, year-on-year, in February. In January, consumer prices had fallen by 0.6%.

Th Japanese Yen moved from ¥108.914 to ¥108.9440 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.18% to ¥109.09 against the U.S Dollar.

The dollar inched down on Friday morning in Asia but was boosted by rising Treasury yields and a fall in global shares. ...
19/03/2021

The dollar inched down on Friday morning in Asia but was boosted by rising Treasury yields and a fall in global shares. Investors also continue to contemplate the U.S. Federal Reserve’s deflection of early interest-rate hike expectations.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.01 at 91.862 by 11:59 AM ET (3:59 AM GMT).

The USD/JPY pair inched up 0.01% to 108.89.

The AUD/USD pair edged down 0.18% to 0.7742 and the NZD/USD pair inched up 0.01% to 0.7166.

The USD/CNY pair edged up 0.13% to 6.5136 and the GBP/USD pair inched down 0.03% to 1.3916.

The benchmark U.S. 10-year yield climbed to a more than one-year peak of 1.754% during the previous session before dropping to 1.715%. The Fed handed down its policy decision on Wednesday and pledged to carry on with aggressive monetary stimulus.

“After some navel-gazing,” bond investors “concluded that the Fed is not [posing] any challenges or discomfort for longer-dated UST yields to keep pushing higher,” National Australia Bank (OTC:NABZY) senior FX strategist Rodrigo Catril said in a note.

Pound (GBP) traders are awaiting tomorrow’s release of the latest GfK gauge of consumer morale in March.If this improves...
19/03/2021

Pound (GBP) traders are awaiting tomorrow’s release of the latest GfK gauge of consumer morale in March.

If this improves, however, we could see the Pound Euro (GBP/EUR) exchange rate head higher as the outlook for the UK’s economy improves.

Euro (EUR) traders will be eyeing tomorrow’s release of Germany’s PPI figure for February.

Any improvement in the outlook for the Eurozone’s powerhouse economy would drive-up the EUR/GBP exchange rate.

The dollar pushed higher in early European trading Thursday, helped by rising U.S. Treasury yields even after the Federa...
18/03/2021

The dollar pushed higher in early European trading Thursday, helped by rising U.S. Treasury yields even after the Federal Reserve reiterated that it was in no hurry to raise interest rates while predicting strong growth in the world’s largest economy.

At 3:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.2% at 91.602, climbing from the low of 91.295 seen earlier in the session.

USD/JPY was up 0.3% at 109.18, near the nine-month high hit earlier this week, as the Bank of Japan starts its two-day policy meeting, ending on Friday. A Nikkei report earlier Thursday said the BOJ is expected to slightly widen an implicit band at which it allows long-term interest rates to move around its 0% target.

EUR/USD fell 0.2% to 1.1957, but not far removed from its one-week high of 1.1989, while the risk-sensitive AUD/USD climbed 0.2% to 0.7812.

TOKYO (Reuters) - The U.S. dollar was on the defensive on Thursday after the Federal Reserve signalled it was in no hurr...
18/03/2021

TOKYO (Reuters) - The U.S. dollar was on the defensive on Thursday after the Federal Reserve signalled it was in no hurry to raise interest rates through all of 2023 even as it saw a swift recovery in the world's largest economy.

The dollar's index against six major currencies stood at 91.488. It had hit a two-week low of 91.340 after remarks from Fed Chair Jerome Powell dampened speculation the stronger economic outlook could propel the central bank to wind back its stimulus.

The euro eased to $1.19655, but was hovering close to its one-week high of $1.19900 after rallying 0.6% on Wednesday.

The dollar was up on Thursday morning in Asia, with the U.S. Federal Reserve saying it was in no rush to raise interest ...
18/03/2021

The dollar was up on Thursday morning in Asia, with the U.S. Federal Reserve saying it was in no rush to raise interest rates through all of 2023 even after predicting a V-shaped recovery in the U.S. economy.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.10% to 91.483 by 9:42 PM ET (1:42 AM GMT) but was at its lowest level in two weeks.

The USD/JPY pair was up 0.24% to 109.09.

The AUD/USD pair lost 0.37% to 0.7823 and the NZD/USD pair inched up 0.07% to 0.7245. New Zealand’s GDP posted a surprise contraction of 1% quarter-on-quarter during the fourth quarter of 2020 earlier in the day.

TOKYO (Reuters) - The U.S. dollar held gains against major currencies on Wednesday as investors looked to the U.S. Feder...
17/03/2021

TOKYO (Reuters) - The U.S. dollar held gains against major currencies on Wednesday as investors looked to the U.S. Federal Reserve's policy meeting for indications it could start rate hikes earlier or let bond yields rise further.

Against the yen, the greenback firmed 0.1% to 109.085 yen, hovering near nine-month highs hit this week. The euro was flat versus the dollar after declining in the past three sessions.

With Fed policymakers expected to forecast the fastest U.S. economic growth in decades in the wake of COVID-19 vaccinations and $1.9 trillion in new stimulus, market participants will be focused on cues that the central bank could start raising interest rates in 2023, earlier than it had said.

"It is likely that the FOMC's economic forecasts will acknowledge the improved growth picture this year, but will continue to show a long road toward conditions consistent with maximum employment that would put sustained pressure on inflation," Morgan Stanley (NYSE:MS) strategist Matthew Hornbach said.

The dollar was up on Wednesday morning in Asia, with other major currencies holding tight ranges ahead of the U.S. Feder...
17/03/2021

The dollar was up on Wednesday morning in Asia, with other major currencies holding tight ranges ahead of the U.S. Federal Reserve’s policy decision later in the day.

The U.S. Dollar that tracks the greenback against a basket of other currencies inched up 0.03% to 91.903 by 12:59 AM ET (4:59 AM GMT). The index has risen for the past three sessions, boosted by U.S. bond yields that are climbing as expectations of a strong economic recovery grow.

The USD/JPY pair edged up 0.13% to 109.12.

The dollar maintained a strong tone in early European trading Wednesday, as traders looked forward to the conclusion of ...
17/03/2021

The dollar maintained a strong tone in early European trading Wednesday, as traders looked forward to the conclusion of the two-day Federal Reserve meeting for guidance on future monetary policies.

At 3:15 AM ET (0815 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 91.925, having risen for three straight sessions on support mainly from elevated U.S. bond yields.

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