The Canadian dollar rose against its US counterpart on Thursday, as traders anticipate the release of the Canadian consumer price index data tomorrow. Another release from the US Federal Reserve on Wednesday contained no strong signals for an interest rate hike in March, which left the greenback unsupported today. Statistics Canada is due to release the Canadian CPI data for January on Friday. Another data release from the statistical office showed that … “Canadian Dollar Rises Against US Peer Ahead of Consumer Price Index Data”
Month: February 2017
US Dollar Plummets After Steven Mnuchin Interview and Jobless Claims Data
The US dollar today plummeted to new lows today after the US Treasury Secretary Steven Mnuchin failed to clarify the details of Donald Trump’s ‘phenomenal tax’ plan during an interview. The greenback was also affected negatively by the higher-than-expected initial jobless claims data for last week. The US dollar weakened against its main competitors such as the euro and the Japanese yen retracing most of the gains made during previous sessions. The US Dollar … “US Dollar Plummets After Steven Mnuchin Interview and Jobless Claims Data”
Aussie Bounces After Intraday Drop
The Australian dollar dipped intraday, but the losses were short-lived, and the currency has climbed above the opening level by now. Other commodity currencies, like the Canadian and New Zealand dollar, demonstrated the similar performance during the Thursday’s trading session. The Australian currency dropped initially as private capital expenditure showed a drop by 2.1% in the December quarter from the previous three months (seasonally adjusted). While the drop was not as big as the one in the September … “Aussie Bounces After Intraday Drop”
Pound Gains on Dollar & Euro After Retail Sales Data
The Great Britain pound rose against the US dollar and the euro today thanks to improving retail sales, though analysts were not entirely optimistic. The Confederation of British Industry released a retail sales survey that showed a reading of +9% for February, up from -8% in January. Furthermore, the reading was above the analysts’ median estimate of +5%. Yet not the entire report was positive as Ben Jones, principal economist at the CBI, voiced … “Pound Gains on Dollar & Euro After Retail Sales Data”
FOMC Minutes and the next rate hike – 3 opinions
The FOMC meeting minutes were relatively upbeat, seeing the glass half full regarding the economy, but the dollar failed to rally. When will we see the next hike? Here are three opinions: Here is their view, courtesy of eFXnews: FOMC Minutes: We Still See 2 Hikes In June And December – Danske As expected, we did not … “FOMC Minutes and the next rate hike – 3 opinions”
Canadian Dollar Falls, Trims Losses After Fed Minutes
The Canadian dollar fell on Wednesday due to the drop of crude oil prices and unfavorable domestic macroeconomic data. The currency managed to trim its losses after the release of policy minutes from the Federal Reserve. Crude oil fell during the Wednesday’s trading session and, as it often happens, the Canadian currency followed movement of the commodity. Retail sales decreased 0.5% in December following the 0.3% increase in November. That was an unpleasant surprise to economists … “Canadian Dollar Falls, Trims Losses After Fed Minutes”
British Pound Drops Against US Dollar Despite Positive Revision for UK GDP
The British pound dropped against its US counterpart on Wednesday, even as the gross domestic product growth in the United Kingdom during the last quarter of 2016 was revised higher. Demand for the US dollar was higher today following the release of the minutes of the Federal Reserveâs latest policy meeting, which signaled that interest rates could be raised soon. In the United Kingdom, the Office for National Statistics released its second estimate of the gross … “British Pound Drops Against US Dollar Despite Positive Revision for UK GDP”
USD/CAD: Higher N-Term, Before Lower: Where To Target? –
The Canadian dollar has many forces moving it around. What’s next? Here is their view, courtesy of eFXnews: The Canadian economy’s close dependence on the US and oil industries means the ‘loonie’ has been highly vulnerable to political events regarding Trump’s presidency and OPEC’s oil supply freeze. Our call for a near-term stronger USD should … “USD/CAD: Higher N-Term, Before Lower: Where To Target? –”
US Dollar Rallies, Later Retreats, as Markets Await Release of FOMC Minutes
The US dollar rallied against its main peers today as markets await the release of minutes of the Federal Open Market Committee scheduled for later today. The US dollar gained significantly against its main peers for the fourth consecutive session even as the National Association of Realtors reported higher than expected figures for January home sales. The US dollar rallied to new highs as tracked by the US Dollar Index, which hit a high of 101.72, … “US Dollar Rallies, Later Retreats, as Markets Await Release of FOMC Minutes”
Euro Off Session Lows as Political Fears Subside
The euro rebounded from daily lows, trimming losses against some currencies and rallying versus others, as concerns about the outcome of the French presidential elections eased. Macroeconomic data released from the eurozone today was good, adding to the strength of the shared 19-nation currency. Centrist politician Francois Bayrou announced that he is not going to run for the presidential office and will support independent candidate Emmanuel Macron instead. Analysts said … “Euro Off Session Lows as Political Fears Subside”