The euro moved higher against the US dollar on Monday to begin the week on a positive note, following the release of surprisingly positive retail sales in Germany and higher than expected core inflation rate in the euro area. The shared currency had moderate gains against the British pound today, supported by a report that revealed a lower unemployment rate than forecasted last month. Annual inflation rate within the euro area remained unchanged in July … “Euro Gains as Unemployment Rate and Core Inflation Beat Estimates”
Month: July 2017
Czech Koruna Falls as Experts Scale Back Rate Hike Expectations
The Czech koruna fell today as analysts scaled back expectations for an interest rate hike from the nation’s central bank. The Czech National Bank will conduct a policy meeting on Thursday. Previously, some experts were predicting the first interest rate hike from the bank in almost a decade. Yet now, forecasters believe that the bank may delay monetary tightening. USD/CZK rose 0.22% to 22.2336 as of 13:01 GMT today. If you have … “Czech Koruna Falls as Experts Scale Back Rate Hike Expectations”
Polish Zloty Slips After Inflation Data
The Polish zloty slipped against the US dollar today as analysts speculated that the central bank will not turn hawkish despite rising inflation. The political turmoil was not helping the currency either. Polish inflation rose 1.7% in June from the same month a year ago, a bit faster than 1.6% predicted by economists. Month-on-month, consumer prices fell 0.2%. The data did not look good enough for the National Bank … “Polish Zloty Slips After Inflation Data”
Dollar’s Bearish Trend Persists amid Negative Fundamentals
The US dollar was among the weakest currencies during the past trading week due to a range of bearish factors that made the greenback unappealing to investors. The Federal Reserve issued a dovish policy statement that made experts think that the Fed will push back the next interest rate hike. Growth of US gross domestic product in the second quarter of this year disappointed market participants even though it was not … “Dollar’s Bearish Trend Persists amid Negative Fundamentals”
US Dollar Weakens Against Euro as GDP Data Disappoints
The US dollar declined against the euro on Friday, following a report that showed that the rate of economic growth in the United States failed to impress investors. The greenback fell harder against its Canadian counterpart as gross domestic product of the United Statesâ northern neighbor grew faster than expected. In its first estimate for gross domestic product in the second quarter of 2017, The US Bureau of Economic Analysis stated that the US economy grew … “US Dollar Weakens Against Euro as GDP Data Disappoints”
Canadian Dollar Rallies Against US Dollar on Positive GDP Data
The Canadian dollar today rallied against its US counterpart after the release of positive Canadian GDP growth data for the month of May by Statistics Canada. The US Bureau of Economic Analysis also released the US GDP growth estimate for the second quarter, which disappointed, causing the US dollar to weaken against the Canadian dollar. The USD/CAD currency pair lost over 100 points at the height of its decline as the US dollar retraced all its … “Canadian Dollar Rallies Against US Dollar on Positive GDP Data”
Czech Koruna Gains on Monetary Policy Outlook
The Czech koruna (sometimes also called the Czech crown) gained against the US dollar today amid expectations of monetary tightening from the nation’s central bank. The Czech National Bank will conduct a policy meeting next week (on August 3). Some analysts expect no changes to the existing monetary policy, while others predict an interest rate hike. Forecasts for a hike range from by 5 basis points to 25 basis points. … “Czech Koruna Gains on Monetary Policy Outlook”
Euro Rallies Against US Dollar on Positive German CPI Data
The euro today rallied higher against the US dollar after the release of positive German CPI data by the Federal Statistical Office, which beat expectations. The euro later rallied higher against the weaker US dollar after the release of weak US GDP data for the second quarter by the Bureau of Economic Analysis. The EUR/USD currency pair gained over 70 points as the height of its rally as investors bought the euro and sold the greenback. The euro rallied … “Euro Rallies Against US Dollar on Positive German CPI Data”
Russian Ruble Falls a Bit After Bank of Russia Policy Announcement
The Russian ruble fell a bit against the US dollar today after the Russian central bank kept its monetary policy unchanged but signaled that it may cut interest rates in the future. The Bank of Russia kept its main interest rate at 9%. Some of analysts expected such decision, while other expected a cut. The central bank signaled that it may indeed cut rates later: The Bank of Russia … “Russian Ruble Falls a Bit After Bank of Russia Policy Announcement”
GBP/USD: Balance Of Risks Into BoE Aug Meeting; Where To
After falling on Carney’s dovishness and rising on his newly found hawkishness, the pound will face Carney once again, this time at the “Super Thursday” meeting on August 3rd. What can we expect? Here is their view, courtesy of eFXnews: CIBC FX Strategy Research notes that the August 3rd BoE policy meeting will again manifest divergent … “GBP/USD: Balance Of Risks Into BoE Aug Meeting; Where To”