The US dollar declined against most of its main peers on Friday, which drove an index that tracks the greenbackâs strength to its lowest level since November 9 earlier today before partly erasing some of its losses. The US currency was weaker today following a report on gross domestic product growth in the United States, which revealed data that fell short of expectations. The US Bureau of Economic Analysis released … “US Dollar Weakens Versus a Basket of Major Counterparts on Disappointing GDP Growth”
Month: April 2017
USD/CAD Rallies Briefly After Release of Flat Canadian GDP Data
The USD/CAD currency pair today declined slightly from multi-month highs that had been registered earlier after the release of Canadian GDP data by Statistics Canada. The currency pair had rallied higher briefly after the announcement of both the Canadian and US GDP data before retracing some of its daily gains. The currency pair rallied to hit a new daily high after the announcement of the Canadian and US GDP data, which were simultaneously … “USD/CAD Rallies Briefly After Release of Flat Canadian GDP Data”
EUR/USD Rallies Higher on Positive Eurozone CPI Data
The EUR/USD currency pair rallied to new highs today after the release of positive CPI data from the Eurozone. The euro gained significantly against the US dollar as the Eurozone inflation figures for the month of April released by Eurostat exceeded expectations. The currency pair gained over 70 points at the height of its rally as investors bought the pair due to the better economic outlook signaled by the CPI data. The CPI data from the Eurozone for April came in at 1.9% … “EUR/USD Rallies Higher on Positive Eurozone CPI Data”
Japanese Yen Soft Following Economic Data & BoJ Meeting
The Japanese yen fell during the current trading session following the barrage of economic reports in Japan today and yesterday’s policy meeting of the Bank of Japan. Plenty of reports were released from Japan today. Among them were Japan’s core Consumer Price Index, which rose 0.2% in March from the previous year (in line with expectations), and Tokyo core CPI, which fell 0.1% in April from a year ago (less than … “Japanese Yen Soft Following Economic Data & BoJ Meeting”
GBP/USD Rises to Highest Since September, Ignoring Data
The Great Britain pound gained today, reaching the highest level since September, despite underwhelming economic data released from the United Kingdom today. UK gross domestic rose 0.3% in the first quarter of this year, missing the analysts’ estimate of 0.4%. It was the slowest growth rate in a year. Released earlier, UK GfK consumer confidence slipped to -7 in April from March’s -6. GBP/USD rallied from 1.2902 to 1.2946 … “GBP/USD Rises to Highest Since September, Ignoring Data”
US Dollar Remains Little Changed Against Main Peers on Mixed Economic Data
The US dollar strengthened against the euro and fell against the British pound, the Canadian dollar, and the Japanese yen on Thursday. The greenback struggled for direction following a number of economic releases in the United States that revealed mixed data today, which raised uncertainty about the stability of the economic recovery. The first release came from the US Census Bureau at 12:30 GMT, and said that new orders for durable goods manufactured in the United States increased $1.6 … “US Dollar Remains Little Changed Against Main Peers on Mixed Economic Data”
EUR: ECB Nudging Towards A Policy Shift In September –
Mario Draghi did some spectacular jiujitsu by starting the presser with an upbeat assessment but then cooling things down. Yet beyond the moves on EUR/USD, what can we expect from the ECB? Here is their view, courtesy of eFXnews: SEB Research comments on today’s ECB meeting noticing that the central bank maintained its steady hand and left all … “EUR: ECB Nudging Towards A Policy Shift In September –”
EUR/USD Dips Drastically as ECB Maintains Interest Rates and QE Program
The EUR/USD currency pair today declined significantly during Mario Draghi‘s speech as the European Central Bank maintained interest rates at the same level. The currency pair dipped as the US dollar strengthened against the single currency due to higher US bond yields. The currency pair lost about 80 points as Mario Draghi, the ECB President, delivered his speech and largely outlined a dovish outlook. The currency pair spiked to a new daily high … “EUR/USD Dips Drastically as ECB Maintains Interest Rates and QE Program”
EUR/USD: Trading the US Advance GDP
US Advance GDP is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity, and publication of Advance GDP could have a significant impact on the movement of EUR/USD. A reading which is better than the market forecast is bullish for the dollar. Here … “EUR/USD: Trading the US Advance GDP”
ECB Preview: seeing the glass half full? 3 scenarios
The European Central Bank is not expected to change its policy at the April 2017 meeting. Nevertheless, the ECB always moves markets and this event will not be different. The key is the tone in Mario Draghi’s press conference. And the main yet unspoken driver of optimism is the result in the first round of the … “ECB Preview: seeing the glass half full? 3 scenarios”