The Great Britain pound fell against its rivals during today’s session after growth of Britain’s services sector slowed more than analysts had anticipated to the slowest pace since September 2016. The seasonally adjusted Markit/CIPS UK Services PMI dropped from 54.5 in January to 53.3 in February. While the index was still far above the neutral 50.0 reading that separates expansion and contraction, the actual value was nowhere … “Pound Retreats as Growth of Services Sectors Slows Beyond Expectations”
Month: March 2017
Yen Mixed After Set of Economic Reports from Japan
Economic data released from Japan over the current trading session was not particularly good. That did not prevent the Japanese yen from standing its ground against some currencies (like the US dollar and the Great Britain pound), even though it fell against others (like the euro and the Swiss franc). Japan’s national core Consumer Price Index rose 0.1% in January from a year ago, nowhere … “Yen Mixed After Set of Economic Reports from Japan”
Is the Fed aware of great NFP numbers?
The dollar surged this week on unusually hawkish comments from the doves at the Federal Reserve. The central bank took back the baton of market influence by laying heavy hints about a March rate hike. Bill Dudley, No. 3 at the Fed, has previously shown his dovish side but now he said there is a “compelling case” … “Is the Fed aware of great NFP numbers?”
Euro’s Performance Isn’t Stellar Despite Supportive Fundamentals
The euro fell against the US dollar and the Great Britain pound on Thursday despite seemingly positive macroeconomic data. The euro performed better against various other currencies, including the Japanese yen. Eurozone annual inflation was at 2.0% in February while experts had expected it to stay 1.8%, the same as in January. This means that inflation reached the central bank’s target. Other economic reports released over the Thursday’s session were … “Euro’s Performance Isn’t Stellar Despite Supportive Fundamentals”
USD/CAD Deflates Briefly from Bullish Trend After Release of Canadian GDP Data
The USD/CAD currency pair deflated from its bullish trend after the release of GDP figures for December by Statistics Canada earlier today. However, this was a temporary move given the prevailing positive market sentiment towards the US dollar as investors price-in the possibility of a Fed rate hike in March. The currency pair had gained close to 40 points as at the time of writing and the slight deflation was hardly traceable as it was eclipsed by the currency … “USD/CAD Deflates Briefly from Bullish Trend After Release of Canadian GDP Data”
US Dollar Climbs on Expectations of an Interest Rate Hike by Federal Reserve in March
The US dollar climbed against the euro and the British pound, as the market expected a higher probability of an interest rate hike by the Federal Reserve later this month. The stronger expectation comes after a number of officials from the central bank affirmed that economic growth is strong and healthy. Federal Reserveâs Board of Governors Member Lael Brainard said yesterday that both global and US economies are improving, which signals that raising … “US Dollar Climbs on Expectations of an Interest Rate Hike by Federal Reserve in March”
USD: We Now Expect The Fed To Hike In March – ABN AMRO
The odds for a rate hike from the Federal Reserve have risen significantly after Dudley’s speech. The team at ABN AMRO joins the March train: Here is their view, courtesy of eFXnews: We now expect the Fed to hike rates this month. The sharp year-to-date improvement in US business surveys signals the possibility of accelerating US growth … “USD: We Now Expect The Fed To Hike In March – ABN AMRO”
USD/CHF Rises as Swiss GDP Misses Forecasts
The Swiss franc fell against the US dollar today as Switzerland’s gross domestic product missed economists’ expectations. Against other most-traded counterparts, the currency was either flat or higher. Swiss GDP rose just 0.1% in the fourth quarter of 2016, the same as in the previous three months. Analysts had promised growth by about 0.5%. Retails sales dropped 1.4% in January from a year ago, though the drop was not as big as experts … “USD/CHF Rises as Swiss GDP Misses Forecasts”
Pound Flat as Britain’s Economic Data Mixed
The Great Britain pound was basically flat against its major peers today as reports painted a mixed picture of Britain’s economy, giving the currency no clear direction. The sterling fell for four consecutive sessions before today. The Markit/CIPS UK Construction PMI ticked up from 52.2 to 52.5 in February while analysts had expected the index to stay unchanged. The Markit/CIPS UK Manufacturing PMI, on the other hand, slipped from 55.7 … “Pound Flat as Britain’s Economic Data Mixed”
Currency of the week: EUR/USD: Cautiously optimistic as politics
The world’s most popular currency pair may have too manny moving parts and this triggers very tight range trading. This will probably not last too long. French opinion polls ECB expectations are key for Europe, while Trump and the Fed move the dollar. We focus on what to watch out for, with a cautiously optimistic … “Currency of the week: EUR/USD: Cautiously optimistic as politics”