
Allianz Chief Economic Advisor Mohamed El-Erian says bitcoin's price volatility makes it seem more like a commodity than a currency.
via CoinDesk
Jerome (Jay) Powell has been nominated by President Donald Trump as Fed Chair and will replace current Fed Chair Janet Yellen in February 2018. The official announcement came after a reality show style nomination process. This was fully priced in and there is no real reaction in the US dollar. Around five candidates were considered, [...]
The post Jay Powell officially nominated to Fed Chair by Trump appeared first on Forex Crunch.
The crisis is far from over. Ex-vice president Oriol Junqueras and almost all his colleagues were sent to prison without a bail option. Ousted Catalan president Carles Puigdemont and other ex-ministers are in Belgium and did not appear before the courts in Madrid. Santi Vila, who resigned one day before the declaration of independence and [...]
The post Catalonia: Almost all ousted ministers sent to jail appeared first on Forex Crunch.
The Bank of England is set to raise interest rates for the first time since 2007, moving from 0.25% to 0.50%, undoing the post-Brexit rate cut of August 2016. The big question is: will they continue hiking in 2018? Or is it only a one-off? GBP/USD advanced nicely early in the week and in our [...]
The post BOE set to raise rates – live coverage appeared first on Forex Crunch.
Markit’s construction managers’ purchasing index for October was expected to remain unchanged at 48.1 points, below the 50-point threshold that separates expansion from contraction. Yesterday’s manufacturing PMI beat expectations with 56.3. The most important release is for the services sector, which will be out tomorrow. Nevertheless, there is a bigger event on the docket today. GBP/USD [...]
The post UK construction PMI jumps to 50.8 – GBP/USD recovers appeared first on Forex Crunch.
The Australian dollar suffered from a poor inflation read and dropped to the lowest in three months. Yet from this abyss at 0.7620, the pair bounced from the line of support and topped 0.77. The high so far has been 0.7726. The Australian dollar has been propelled higher by better data. Australia reported a trade [...]
The post AUD/USD rises in range on positive trade balance, building approvals appeared first on Forex Crunch.