The Euro today gained slightly against the US dollar after the release of weak US consumer price index report for the month of March. The Euro was stronger than the greenback during today’s session despite the subdued trading activity as most markets were closed due to the Easter holiday season. The EUR/USD currency pair gained at least 0.12% from its opening price at the height of its rise, but had retraced some of its … “Euro Gains Slightly Against the US Dollar on Weak US CPI Data”
Month: April 2017
US Dollar Edges Lower amid Thin Trading and Disappointing Retail Sales
The US dollar weakened against most of its major peers on Friday, as investors felt disappointed following the release of two economic reports that were expected to reveal stronger data. Trading was thin today as markets in the United States, Canada, the United Kingdom and Australia closed for the Good Friday holiday. The US Bureau of Labor Statistics released a new reading for its consumer price index at 12:30 GMT. The index had a 0.3% decline … “US Dollar Edges Lower amid Thin Trading and Disappointing Retail Sales”
South Korean Goes Down as Geopolitical Tensions Continue to Mount
The South Korean won dropped today, joining many other Asian currency in a decline, as mounting geopolitical tensions continued to spoil the investors’ mood. Rumors circulate that North Korea may be preparing yet another nuclear test, and that does not bode well for other Asian countries, its southern counterpart in particular. Yesterday, the United States dropped a bomb in Afghanistan, the biggest non-nuclear one they have ever used. … “South Korean Goes Down as Geopolitical Tensions Continue to Mount”
Britain’s Pound Steady During Holiday Trading
The Great Britain pound was little changed during the slow holiday trading after falling against the dollar and rising versus the euro yesterday. This week’s macroeconomic data was relatively helpful to the currency, with consumer price inflation being stable above the central bank’s target and wage inflation also being steady. The fact that markets focused on other regions of the world and troubles their also helped the sterling, diverting the traders’ … “Britain’s Pound Steady During Holiday Trading”
US Dollar Partly Recovers After Plummeting on Negative Comments from Trump
The US dollar rose against the euro and the British pound on Thursday, to erase some of the losses it had yesterday following remarks by President Donald Trump that the greenback is too strong. Trump had added that he believes the Federal Reserve should keep interest rates low, with the aim of avoiding further gains in the US dollar. The presidentâs remarks, which he made during an interview with The Wall Street Journal, … “US Dollar Partly Recovers After Plummeting on Negative Comments from Trump”
Australian Dollar Rallies Against US Dollar on Strong Employment Data
The Australian dollar today rallied higher against the US dollar to lift the AUD/USD currency pair to new heights after the release of positive employment data for March. The Australian dollar’s rally lasted throughout the European session and only abated after the opening of the American session as the US dollar rallied higher. The AUD/USD currency pair rallied to new daily highs as it extended a rally that began yesterday as the markets anticipated positive Australian employment … “Australian Dollar Rallies Against US Dollar on Strong Employment Data”
Canadian Dollar Strengthens Against US Dollar on BoC Interest Rate Announcement
The Canadian dollar today strengthened against the US dollar even as the Bank of Canada announced that its interest rates will remain unchanged. Although the bank maintained interest rates, it highlighted the fact that the Canadian economy could achieve sustainable growth into the future. The USD/CAD currency pair today hit new session lows as the currency pair lost about 100 points at the height of its decline, but had retraced … “Canadian Dollar Strengthens Against US Dollar on BoC Interest Rate Announcement”
Sterling Flat as Employment Data Doesn’t Help in Establishing Trend
The Great Britain pound traded basically flat today after the release of employment data. The report was mixed, giving the currency no help in finding a direction to move. Average weekly earnings rose 2.3% in the three months to February from the same period a year ago, the same as in the previous reporting period, while forecaster had predicted slowdown of wage inflation to 2.1%. The unemployment rate was steady at 4.7% — the lowest since August 1975. … “Sterling Flat as Employment Data Doesn’t Help in Establishing Trend”
Aussie Posts Small Losses After Data from Australia & China
The Australian dollar fell after the release of economic reports from Australia and China, but the losses were rather limited despite the nervous sentiment among investors due to rising geopolitical risks. China’s official Consumer Price Index rose 0.9% in March, year-on-year, more than in the previous month (0.8%) but less than analysts had predicted (1.1%). The Producer Price Index was up 7.6% in March, year-on-year, less than … “Aussie Posts Small Losses After Data from Australia & China”
Canadian Dollar Gains Against Most Peers Ahead of BoC Interest Rate Decision
The Canadian dollar traded marginally lower against the US dollar and other major peers on Tuesday, as crude oil prices continued to head higher due to growing concerns that global supply might be disrupted. The loonie was lower today as traders anticipated a monetary policy decision from the Bank of Canada tomorrow. Prices of crude oil gained about 10% in the past two weeks, as supply disruptions drove the value of crude higher. … “Canadian Dollar Gains Against Most Peers Ahead of BoC Interest Rate Decision”