The US dollar deflated after the US consumer sentiment monitored by the Reuters/Michigan index was released at a record low missing forecasts by a large margin. The figures reported by the same index also indicated that consumer expectations were below consensus. The US dollar index, which tracks the greenback’s performance, declined from a daily high of 101.01 to a low of 100.67 at the time of writing. The US dollar also weakened against its major currency counterparts … “US Dollar Deflates After Release of Negative Consumer Sentiment Report”
Month: February 2017
Gains of Britain’s Pound After Economic Releases Short-Lived
The Great Britain pound dropped today, falling against the US dollar for the second consecutive day, even though basically all economic reports released from the United Kingdom over the trading session were better than expectations. The currency had jumped immediately after the releases but retreated later and is trading below the opening level against the US dollar right now. UK manufacturing production climbed 2.1% and industrial production … “Gains of Britain’s Pound After Economic Releases Short-Lived”
China’s Amazing Trade Data Boosts Australian Dollar
The Australian dollar rose against its rivals today thanks to the surprisingly good trade report released from China, Australia’s biggest trading partner. Economic data from Australia itself was not so good, but it did not affect the currency enough to drive it down. China’s trade surplus rose to the highest level in a year in January, beating analysts’ expectations. Exports rose by 7.9% while imports jumped … “China’s Amazing Trade Data Boosts Australian Dollar”
USD: President Trump And The Dollar; We Stay Firmly USD
The US dollar is not excited from Trump’s first weeks in office despite some hopes from tax changes. Nevertheless, the team at Goldman Sachs remains bullish on the greenback: Here is their view, courtesy of eFXnews: Markets are worrying over the “true” intentions of the new administration. Concern that President Trump is mercantilist and may … “USD: President Trump And The Dollar; We Stay Firmly USD”
Canadian Dollar Rises Against US Dollar Ahead of Labor Market Data
The Canadian dollar had small gains against its US counterpart on Thursday, one day before the release of employment data and unemployment numbers in Canada. The US dollar was weaker today after the number of jobless claims missed estimates. A report released by the US Department of Labor said that the week ended February 4 saw 234,000 applications for unemployment benefits. This was 12,000 claims less than the previous week and missed … “Canadian Dollar Rises Against US Dollar Ahead of Labor Market Data”
EUR/USD Remains Bearish Backed by Political Uncertainties
The EUR/USD currency pair exhibited a bearish trend today given the uncertain political environment in Europe and a weaker US dollar. The currency pair changed insignificantly after the US Department of Labor reported that the number of jobless claims had massively declined and beat expectations. The currency pair started the day’s session on a bearish trend before recovering briefly and later resuming its decline during the early North American session. The currency pair has been on a downward … “EUR/USD Remains Bearish Backed by Political Uncertainties”
EUR/USD : Trading the UoM Consumer Sentiment
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and is bullish for the US dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 15:00 GMT. … “EUR/USD : Trading the UoM Consumer Sentiment”
Fractured EMU facing threat from populism: how will EUR
Reading the data One of the main challenges that the European Monetary Union faces is that the area is far too diverse for the ECB to be able to run optimal monetary conditions. Conditions which might be too loose for the core economies might be too tight for those at the core. This dynamic often … “Fractured EMU facing threat from populism: how will EUR”
AUD/USD: Pending Bullish Signal On A Weekly Close Above
The RBA did not rock the boat and the Aussie held its ground. What’s next? Here is their view, courtesy of eFXnews: Trend: Price broke down from its broad 2016 triangle in Q4 2016 and challenged the bottom of the nine-month range and our downside target at 0.7150/00 in December. The response to nine-month lows at … “AUD/USD: Pending Bullish Signal On A Weekly Close Above”
Canadian Dollar Climbs to Reverse Yesterdayâs Direction Ahead of Housing Starts Data
The Canadian dollar rose against the US dollar to post small gains on Wednesday, as the Canadian currency reversed its direction after the release of Canadian housing starts data. The Canadian dollar has been under pressure from President Donald Trumpâs protectionist approach in the past days. President Trump, who has been in position for just a few weeks, raised investorsâ concerns after announcing that he intends to fulfill his promise … “Canadian Dollar Climbs to Reverse Yesterdayâs Direction Ahead of Housing Starts Data”