US Crude Oil Inventories measures the change in the number of barrels held in inventory. The report is published each week. A reading which is higher than the market forecast is bullish for USD/CAD. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Thursday at 16:00 GMT. Indicator Background As Canada is … “USD/CAD – Trading the US Crude Oil Inventories”
Month: December 2016
EUR/USD: Trading the US CB Consumer Confidence
US CB Consumer Confidence is based on a monthly survey of about 5,000 U.S. households regarding their opinion of the economy. Traders should pay close attention to its release, which always has a strong impact on market prices. A higher reading than the market forecast is bullish for the dollar. Here are all the details, and … “EUR/USD: Trading the US CB Consumer Confidence”
Dollar Soft Ahead of Holiday, Ekes Out Gains vs. Some Rivals
The US dollar paused its rally ahead of the holiday season as traders were booking profits and preparing for the new year. With that said, there were currencies that managed to fare even worse than the greenback. While the week was quiet for the most part, its first half was market by the terrorist attacks in Turkey and Germany, which sent the dollar higher. Yet the currency lost its steam by the weekend due to profit-taking. … “Dollar Soft Ahead of Holiday, Ekes Out Gains vs. Some Rivals”
US Dollar Declines as Currency Traders Collect Profits
The US dollar moved marginally lower against its major peers on Friday, the last day of trading before the Christmas holiday season. A preference of collecting profits from the greenback’s rapid rise was shared by most traders amid thinning trading volumes today. The US currency was boosted to its highest level in 14 years by investors’ anticipation for higher interest rates due to increased fiscal spending under the administration of President-elect Donald … “US Dollar Declines as Currency Traders Collect Profits”
Japanese Yen Gains on Rivals amid Light Trading
The Japanese yen was strong against its most-traded rivals during the quiet Friday trading, though light volumes ensured that the currency’s moves were not significant. While many markets close early today due to the upcoming Christmas, Japanese markets were closed for the entire session. The reason for that is observance of the Emperor’s Birthday in Japan. Despite holidays, next week will bring quite a few economic reports from … “Japanese Yen Gains on Rivals amid Light Trading”
Great Britain Pound Remains low Despite Release of Positive Economic data
There was minimal upward movement in the Great Britain pound despite positive economic data released today by the Office for National Statistics indicating that the UK economy was experiencing positive growth. The pound rose briefly against other currencies such as the euro and the US dollar before retracing its gains. The data released regarding the UK’s consumer trends, economic well-being, and quarterly national accounts served to push the Great Britain pound slightly … “Great Britain Pound Remains low Despite Release of Positive Economic data”
Canadian Dollar Drops for Third Straight Day
The Canadian dollar dropped today, falling for the third consecutive day against its major peers, after Canada’s economy demonstrated unexpected contraction in October. Canada’s gross domestic product fell 0.3% in October after rising 0.4% in September. Experts had predicted an increase by 0.1%. The report explained the contraction by “widespread decreases in manufacturing output and lower oil and gas extraction.” Today’s data followed yesterday’s inflation report that showed surprise … “Canadian Dollar Drops for Third Straight Day”
Swiss Franc Mixed amid Slow Holiday Trading
The Swiss franc was mixed today, rising against the Great Britain pound, falling versus the euro, and staying mostly flat against the US dollar (though the Swiss currency has moved lower versus the greenback just now). The Swissie, as well as most other currencies, did not move far due to slow trading ahead of the holiday. The KOF Economic Barometer stayed at 102.2 in December, the same as the previous month’s reading. That was … “Swiss Franc Mixed amid Slow Holiday Trading”
Euro Gains for Third Day on US Dollar
The euro rose today, gaining for the third straight consecutive session on the US dollar, amid the news that Italy decided to rescue its third-largest bank. Italian cabinet approved a bailout for Monte dei Paschi di Siena, fearing that its downfall may spillover on the rest of the banking sector. As for today’s economic data, the GfK Consumer Climate for Germany showed a reading of 9.9 for January, little changed from the December’s figure of 9.8. France’s … “Euro Gains for Third Day on US Dollar”
US Dollar Edges Lower Against Major Peers Following Rapid Gains
The US dollar on Thursday gave up some of the gains it achieved after the Federal Reserveâs decision to raise interest rates, as the currency struggled to keep moving higher ahead of the Christmas holiday. The greenback moved lower against most of its major peers today. The US currency found support in new data releases in the United States, which limited its decline today. The US Bureau of Economic Analysis published a report containing a revised … “US Dollar Edges Lower Against Major Peers Following Rapid Gains”