The Canadian dollar moved slightly lower on Wednesday against the US dollar and the euro. The Canadian currency erased most of its earlier losses following strong manufacturing sales data in Canada. Statistics Canada released its report for manufacturing sales in December 2016, which said that sales improved more than expected for the second month in a row. Increased sales of petroleum products and transportation equipment led sector gains. Canadaâs manufacturing sales … “Canadian Dollar Erases Earlier Losses Against US Peer Following Manufacturing Data”
Month: February 2017
US Dollar Rallies Briefly Boosted by Higher CPI and Retail Sales, Later Retraces Gains
The US dollar rallied briefly against its main forex counterparts as CPI and retail sales data released today beat expectations. Data released by the US Bureau of Labor Statistics indicated that the consumer price index for January was higher than expected by 0.1%. The US dollar briefly gained ground against its main competitors such as the euro and the Japanese yen before retracing most of its gains later. The US dollar … “US Dollar Rallies Briefly Boosted by Higher CPI and Retail Sales, Later Retraces Gains”
EUR: Cash Ready To Buy Risk; EUR To Weaken Further
EUR/USD has been moving down on political risk from Europe as well as a strengthening US dollar following Yellen as well as the upbeat retail sales and CPI. What’s next? Here is their view, courtesy of eFXnews: As the VIX is approaching the lows again,and with iron ore prices bursting 10% higher over recent days, we … “EUR: Cash Ready To Buy Risk; EUR To Weaken Further”
Australian Dollar Gains, Lifted by Positive Data
The Australian dollar gained today, reaching new multi-year highs against a number of currencies, as economic reports released from Australia during the current trading session were relatively good. The Westpac Melbourne Institute Index of Consumer Sentiment logged a solid gain of 2.3% in February from the preceding month. The report was not entirely positive, though, as Westpac’s Senior Economist, Matthew Hassan, commented: Despite another modest lift this month … “Australian Dollar Gains, Lifted by Positive Data”
Great Britain Pound Posts Losses as Wage Growth Misses Expectations
The Great Britain pound fell today, dropping for the second consecutive day against the US dollar and the euro, as wage growth disappointed economists. Other parts of the employment report were not bad though. According to the report from the Office for National Statistics, average weekly earnings rose 2.6% in the period from October from December compared to the same period a year ago. The consensus forecasts had promised the same 2.8% rate of growth as in the previous … “Great Britain Pound Posts Losses as Wage Growth Misses Expectations”
Bullish on the US dollar – two opinions
The US dollar continues its recovery, enjoying the boost it got from Yellen. Two banks are bullish on the US dollar. They discuss the reasons and the currencies to be bullish against: Here is their view, courtesy of eFXnews: USD: Fundamentals Firmly Favor Dollar Up; We Stay Firmly Bulls – Goldman Sachs A natural tendency is … “Bullish on the US dollar – two opinions”
AUD/USD: Trading the Australian Employment Change
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian Employment Change”
Fed Yellen’s Testimony: No Surprise But Market More ‘Open
Fed Chair Janet Yellen was quite upbeat about the economy and the path of rate hikes. What does it mean? Here is their view, courtesy of eFXnews: Yellen’s testimony comes after a meeting at which the FOMC chose to stand pat, so her attempt to walk down the middle of the road should come as no surprise. There’s … “Fed Yellen’s Testimony: No Surprise But Market More ‘Open”
Euro Goes Down as Economic Data Fails to Meet Expectations
The euro fell against the US dollar today as virtually all economic reports released from the eurozone over the trading session failed to meet market expectations. The shared 19-nation currency also fell against the Swiss franc but fared better versus the Great Britain pound and the Japanese yen. Eurozone seasonally adjusted gross domestic product rose 0.4% in the fourth quarter of 2016 while experts were anticipating the same 0.5% rate … “Euro Goes Down as Economic Data Fails to Meet Expectations”
British Pound Declines as UK Inflation Disappoints Expectations
The British pound fell against the US dollar and the euro on Monday, after fresh data for inflation in the United Kingdom showed that it remained below estimates. The British Office for National Statistics released its report for UK consumer price inflation in January, which stated that consumer prices rose by 1.8% in the twelve months to January. The inflation index rose from a reading of 1.6% in the twelve months ending December 2016, but still … “British Pound Declines as UK Inflation Disappoints Expectations”