The USD/CAD today declined significantly after the release of Canadian GDP data by Statistics Canada, which exceeded market expectations. The decline was short-lived as the US dollar rallied higher after the release of the University of Michigan’s confidence and expectations data for March. At the height of it decline, the currency pair lost over 50 points as the Canadian dollar rallied against the greenback. The currecy pair was on a choppy trade today as it declined, then rallied higher, … “USD/CAD Declines After Release of Canada’s GDP Data”
Month: March 2017
US Dollar Steadies on Dovish Comments from Federal Reserve Official
The US dollar was little changed against the euro on Friday, as dovish comments from an official in the Federal Reserve prevented the greenback from moving higher. Economic data in the United States today lacked enough strength to support the US currency as it declined against the British pound and the Japanese yen. New York Federal Reserve President William Dudley said today that the US central bank has enough space to move gradually … “US Dollar Steadies on Dovish Comments from Federal Reserve Official”
US Dollar Rises Against Major Peers on Strong GDP Data
The US dollar rose against the euro and the Japanese yen, among other major peers on Thursday, after a report that said that gross domestic product in the United States grew more than expected. Disappointing data releases in the Eurozone weighed on the euro today, which gave way for the US dollar to score more gains. The US Bureau of Economic Analysis released a report on growth domestic product in the fourth quarter of 2016 at 12:30 GMT … “US Dollar Rises Against Major Peers on Strong GDP Data”
EUR/USD Declines After the Release of Disappointing German CPI Data
The EUR/USD currency pair today declined after the release of disappointing German CPI data by the Federal Statistical Office amid dovish comments from the European Central Bank. The currency pair’s decline was also triggered by the positive US GDP data released today, which exceeded market expectations. The currency pair lost over 50 points at the height of its decline, as the US dollar gained against the euro. The currency pair’s decline was triggered by the release … “EUR/USD Declines After the Release of Disappointing German CPI Data”
EUR/USD: What’s next after the ECB talk?
The European Central Bank clarified its hawkish tilt and basically told us there was no hawkish tilt whatsoever. This weighs on the euro. What’s next? Here are two opinions: Here is their view, courtesy of eFXnews: EUR: What’s The Risk Of A N-Term Positioning Squeeze? – SocGen Societe Generale FX Strategy Research notes the risk of EUR positioning … “EUR/USD: What’s next after the ECB talk?”
USD/CAD – Trading the Canadian GDP
Canadian GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Thursday at 12:30 … “USD/CAD – Trading the Canadian GDP”
South African Rand Bounces, Jumping More Than 1% vs. Dollar
The South African rand erased yesterday’s losses today, jumping more than 1% against the US dollar. The currency dropped yesterday amid speculations that President Jacob Zuma is going to sack markets-favored Finance Minister Pravin Gordhan. Yet today, the rand bounced after the South African Communist Party formally objected to such plans, increasing uncertainty in the situation. It looks like political struggles are going to drive … “South African Rand Bounces, Jumping More Than 1% vs. Dollar”
Sterling Halts Decline, Gains on Euro
The Great Britain pound halted yesterday’s drop today and was even able to gain on the euro (and recently rose versus other currencies). The decline followed the formal initiation of the Brexit process. Yesterday, Britainâs Prime Minister Theresa May signed a letter that formally initiated the Britain’s exit from the European Union. She spoke to Parliament, arguing that pessimistic forecasts for the nation’s economy have not proved true: There were … “Sterling Halts Decline, Gains on Euro”
Euro Retreats as Outlook for ECB Monetary Policy Becomes More Dovish
The euro became weaker against the US dollar and the British pound on Wednesday, following a report that raised expectations of a more dovish stance from the European Central Bank. In a statement that followed the European Central Bankâs latest policy meeting that was concluded on March 9, the central bank appeared to signal a hawkish position from its monetary policy. ECB President Mario Draghi chose a less dovish tone in a press conference … “Euro Retreats as Outlook for ECB Monetary Policy Becomes More Dovish”
US Dollar Rallies Following the Release of Positive Pending Home Sales Data
The US dollar today rallied against its main peers following the release of positive pending home sales data, which beat expectations. The US dollar rallied higher despite the poor performance of the bond market as US bond yields and the Dow Jones Industrial Average fell to record lows during today’s session. The greenback’s rally was reflected in the US Dollar Index, which opened the day’s session at 99.70 and was trading at 100.08 at the time … “US Dollar Rallies Following the Release of Positive Pending Home Sales Data”