FOREX-Dollar falls against major currencies after Fed rate hike
NEW YORK, Dec 16 The U.S. dollar fell against a basket of major currencies in the wake of the Federal Reserve’s first benchmark interest rate hike in nearly a decade, erasing gains made immediately after the decision. The U.S. central bank’s policy-setting … Continue reading at reuters.com
FOREX-Dollar gains after Fed hikes rates for first time since 2006
NEW YORK, Dec 16 (Reuters) – The U.S. dollar rose modestly against a basket of major currencies on Wednesday after the Federal Reserve hiked benchmark interest rates for the first time in nearly a decade in a widely anticipated move. The U.S. central bank … Continue reading at finance.yahoo.com
Forex technical analysis: The technical roadmap for the EURUSD through the FOMC decision
The EURUSD has been trading in a narrow trading range today – trading above and below the 200 hour MA (green line in the chart below) in the process.The housing data just out is good news with starts and building permits up and higher than expectations. Continue reading at nasdaq.com
Forex – Dollar steady as markets count down to Fed decision
Investing.com – Investing.com – The dollar was steady close to one-week highs against a basket of other major currencies on Wednesday as markets counted down to an expected interest rate increase by the Federal Reserve later in the day. The U.S. dollar … Continue reading at moneycontrol.com
WorldWideMarkets hires experienced Forex executive Amro Zakaria as President of the Middle East & Africa
WorldWideMarkets Online Trading, Ltd, a UK FCA regulated Forex and CFD broker has announced that Amro Zakaria joined the firm as President of the Middle East & Africa (MEA). Mr. Zakaria has been in the financial industry in the MEA region since 2002 when … Continue reading at leaprate.com
Forex Trading - 3 Proven Strategies You Can Start Using Today
Due to many requests from Forex Useful members and rather than p…
You already know that the majority of retail traders lose money.
What you might NOT know, is that this is an inevitable outcome …
The Forex Daily Trading System is the culmination of over twelve years trading by a professional Forex Trader. Nothing is held bac…
Forex Market: USD/CAD daily trading outlook
Yesterday's trade saw USD/CAD within the range of 1.3669-1.3767. The pair closed at 1.3729, shedding 0.03% on a daily basis and extending the loss from Monday. The loonie has depreciated 3.06% against the greenback so far during the current month. Continue reading at binarytribune.com
INR to USD forex rates day: Rupee gains 4 paise against dollar in early trade
Mumbai, Dec 16: The rupee rose by 4 paise at 66.88 against the US dollar in early trade today at the Interbank Foreign Exchange on continued selling of the American currency by exporters and banks. Besides selling of the US currency by exporters and … Continue reading at india.com
Forex restriction cripples import community
THE June 23, 2015 foreign exchange restriction slammed on 41 imported items by the Central Bank of Nigeria (CBN) may have eventually consumed several business concerns as predicted by some economic experts. The casualties, mostly import-ers and Customs … Continue reading at sunnewsonline.com
Forex impact minimal on TNB
The impact of the volatility in the foreign exchange (forex) market on Tenaga Nasional Bhd's (TNB) bottomline is neutral, said chief financial officer Fazlur Rahman Zainuddin. TNB registered a RM819.3 million forex translation loss for the year ended Aug … Continue reading at therakyatpost.com
* (Recast with comments and updated prices; changes byline, dateline, previous LONDON)
* Most expect Fed will drop “patient” from statement
* Sterling sinks after BoE minutes, decline in wage growth
* Swedish central bank cuts rates, crown pressured
* Focus on any Fed comments on dollar, rate projections
By Gertrude Chavez-Dreyfuss
NEW YORK, March 18 – The dollar slid against most major currencies on Wednesday as investors continued to pare back over-extended greenback positions ahead of a key U.S. Federal Reserve statement later in the day following the Fed’s two-day policy meeting.
Market participants are anticipating the Fed will likely drop the word “patient” from its statement with respect to raising interest rates, which could pave the way for a rate increase in June or September this year.
“The key risk for the dollar is that either the Fed remains patient, replaces that term with equally cautious language or highlights the potentially negative impact of a strong dollar on the economic recovery,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.
“Any statement by the Fed that effectively pushes out the timeline for an eventual rate hike in the U.S. would likely send the dollar broadly lower.”
Sterling, meanwhile, fell as the latest Bank of England minutes showed the UK central bank was in no rush to normalize rates. The pound was last at .4671 against the dollar, down 0.5 percent.
In midmorning trading, the dollar was down 0.2 percent against the yen at 121.16 yen. It was also 0.7 percent lower versus the Swiss franc at 0.9993 franc, and was weaker against the euro, which last traded up 0.1 percent at .0605.
Despite expectations that the U.S. central bank will signal a rate increase later this year, the market was wary.
“Although the U.S. economy has been doing considerably better than the rest of the G7 universe, the most recent data has shown deceleration,” said Boris Schlossberg, managing director of FX strategy at BK Asset Management in New York.
“That, coupled with the dollar’s extraordinary strength over the past few months, may give Fed pause with respect to tightening.”
Meanwhile, the Swedish crown plunged against the euro and dollar on Wednesday after Sweden’s central bank cut domestic interest rates to -0.25 percent and launched a new round of quantitative easing to prop up a struggling economy.
The euro rose to its highest since late February against the Swedish crown. It was last up 1.6 percent at 9.3534. The dollar, meanwhile, soared to its strongest level against the crown in six years, trading up 1.6 percent at 8.8194 .