The dollar lost some of its yesterdayâs gains on Thursday as trading volumes were lower ahead of the US thanksgiving holiday. The US currency jumped on Wednesday as a series of data releases in the worldâs biggest economy showed a stable and steady growth. Investorsâ confidence towards the future of the dollar grew after durable goods orders increased by 4.8% in October, which is a bigger increase than expectations. Sentiments were further lifted by positive initial jobless … “US Dollar Retreats on Thinning Trading Ahead of Thanksgiving”
Month: November 2016
Australian Dollar Follows Iron Ore to Upside
The Australian dollar traded higher against its major rivals during the Thursday’s trading session even though the general market sentiment was negative to risky currencies. Analysts explained the amazing performance of the Australian currency by the rally of iron ore prices. Iron ore climbed to the highest level in almost three years, rising as much as 8% in just two days. Considering that iron ore is Australia’s biggest export commodity, that … “Australian Dollar Follows Iron Ore to Upside”
Rand Lower vs. Dollar After South African Central Bank Policy Meeting
The South African rand dropped against the US dollar today following the nation’s decision to keep its repurchase rate unchanged. The South African Reserve Bank maintained its key interest rate at 7% at today’s policy meeting. The bank said in the statement that the unexpected outcome of the US presidential elections and Britain’s decision to leave the European Union create uncertainty for markets, especially emerging ones. As for the rand, according to the central bank the main factors … “Rand Lower vs. Dollar After South African Central Bank Policy Meeting”
GBP/USD: Trading the British Second Estimate GDP
British Second Estimate GDP, one of the most important economic releases, is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the pound. Here are all the details, and 5 … “GBP/USD: Trading the British Second Estimate GDP”
FOMC Minutes confirm December hike – 3 opinions
After Yellen’s recent testimony, there were few doubts that the Fed is set to raise rates in December. Also, recent data was looking good. And now, the FOMC minutes also confirm the upcoming rise of interest rates. Here are three opinions: Here is their view, courtesy of eFXnews: Nov FOMC Minutes: Fed On Track To … “FOMC Minutes confirm December hike – 3 opinions”
US Dollar Climbs on Strong Durable Goods Data and Expected Rate Hike
The dollar appreciated on Wednesday as the US currency resumed its powerful uptrend. The greenbackâs gains followed the release of a report by the Department of Commerce, which showed an increase in durable goods orders that is bigger than estimated. The report said that orders for durable goods, such as appliances, made in the USA rose by 4.8% in October from 0.4% in September, compared to an estimated 3.3% increase. The increase was attributed in a big part to higher demand for commercial … “US Dollar Climbs on Strong Durable Goods Data and Expected Rate Hike”
British Pound Moves Higher on UK’s Fiscal Stimulus Plans
The British pound enjoyed a positive push on Wednesday following the UKâs Autumn Statement. Chancellor Philip Hammond gave the statement earlier today, during which he spoke about increasing productivity to create better living standards for workers. Hammond announced new spending plans that are aimed at the productivity problem in the United Kingdom. In the statement, increased spending on infrastructure and innovation was prioritized. An additional fiscal stimulus to the UKâs roads and railways will … “British Pound Moves Higher on UK’s Fiscal Stimulus Plans”
EUR/USD: Trading the German Ifo Business Climate
German Ifo Business Climate is a monthly composite index of about 7,000 businesses, which are surveyed about current business conditions and their expectations concerning economic performance over the next six months. A reading which is higher than the estimate is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. … “EUR/USD: Trading the German Ifo Business Climate”
Dollar Returns to Gains as Traders Expect Accelerated Rate Hikes
The dollar did not stay down for long, as the US currency already went higher on Tuesday. A surge in US existing home sales during October boosted tradersâ expectations that the Federal Reserve might decide multiple interest rate increases in 2017 following a predicted rate hike in December. After a small selloff on Monday, which was caused by tradersâ reevaluation of the dollarâs recent gains, the US currency returned to climb again on Tuesday. … “Dollar Returns to Gains as Traders Expect Accelerated Rate Hikes”
British Pound Reverses Yesterday’s Gains Ahead of Hammond’s Statement
The British pound came under pressure on Tuesday as currency traders had an increased demand for shelter assets to reduce their exposure to sudden movements in the poundâs exchange rate. The pound is expected to move violently ahead of the UKâs Autumn Statement that will be given tomorrow by Chancellor Philip Hammond. Investors will be keeping a close eye on the statement, which is expected to give more hints on the governmentâs spending plan following … “British Pound Reverses Yesterday’s Gains Ahead of Hammond’s Statement”