Ripple leads the way with a 15% gain The chart doesn’t paint the prettiest near-term picture but a massive gain is a massive gain and that’s exactly what Ripple and some other cryptos had today. Ripple led the way with a 15% gain, up to 0.34 cents. It’s up 38% from the mid-week low. Ripple announced
S&P Global Ratings has recently announced that it lowered Turkey’s sovereign rating to B+ from BB- while maintaining the outlook at stable. Below are key takeaways, via Reuters, from the publication. S&P says Turkey long-term foreign currency rating lowered to ‘b+’ on implications of extreme lira volatility; outlook stable. S&P says substantial weakening of lira has
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Senior Analyst at Commerzbank Axel Rudolph sees the recovery in the pair could extend to the 1.1508/10 area. Key Quotes “EUR/USD’s bounce off the November 2016 high at 1.1300 has further to run and targets the May and June lows at 1.1508/10”. “Should a drop and daily chart close below the 1.1300/1.1296 November 2016 and
The Aussie saw a mild recovery yesterday, but Dollar support remains high. Little of note for the AUD is on the calendar to close out the week, though talking points from central bankers will be coming later. The AUD/USD caught a brief relief rally on Thursday, lifting into 0.7285 and clawing back much of the
Analysts at TD Securities point out that Australia’s July employment report was a mixed bag as headline jobs at -3.9k briefly disappointed, but part-time -23k offset a decent pop in full-time +19k. Key Quotes “The small decline in the part-rate to 65.5% (from 65.7%) cushioned the bottom line, hence a lower 5.3% unemployment rate.” “The
Trading the News: Australia Employment Change Australia’s Employment report may curb the recent decline in AUD/USD as the economy is anticipated to add another 15.0K jobs in July. Another positive outcome may spark a bullish reaction in the Australian dollar as it boosts the outlook for growth and inflation, and the Reserve Bank of Australia
Analysts at TD Securities explained that conditions appear deeply oversold in EUR/USD and we expect a broad 1.13/1.1450 range to be respected. Key Quotes: “We continue to think that EUR/crosses like EUR/CHF and EUR/JPY will provide important directional cues given they are one of the few remaining reserve current account surplus currencies.” “We are mindful of
The pair tests fresh daily lows in the 110.90/80 band. The down move in spot echoes the fall in US-10 year yields. US Retail Sales expanded more than expected in July. After reaching fresh multi-day tops in the 111.45/40 band in early trade, USD/JPY has now retreated to the area of daily lows around 110.90.
Institue of International Finance’s chief economist recently crossed the news wires saying the emerging market capital flows following Turkish lira drop were indicative of a potential for contagion, as reported by Reuters. Key quotes Obstacles for IMF program for Turkey are quite high as it would require higher interest rates, credit tightening. Meanwhile, according to Turkish officials,