The US dollar attempted to rally during the Thursday’s trading session but failed to keep its gains and is trading below the opening level right now. It managed to fall even against the vulnerable euro. US economic data was mixed today. While most indicators were stable, the housing report was disappointing, showing a surprise drop of pending home sales. During an interview today, Treasury Secretary Steven Mnuchin … “US Dollar Attempts to Rally, Fails to Keep Momentum”
Month: August 2017
USD/CAD Declines Drastically on US and Canada Data
The USD/CAD currency pair today suffered a major decline after the release of both US and Canadian macro data during the North American session. Some of the macro data released by both countries include Canada’s GDP data released by Statistics Canada and the US initial jobless claims report. The currency pair came under intense selling pressure during the early North American session and lost over 120 points at the height of its decline. … “USD/CAD Declines Drastically on US and Canada Data”
CAD: Where To Target USD/CAD N-Term As It’s Starting To
USD/CAD made another attempt at the lows but recovered quite swiftly. What’s next? Here is the view from TD: Here is their view, courtesy of eFXnews: D FX Strategy Research argues that the broad trend in the USD will set the tone in USD/CAD as the pair is undergoing a good recovery this week. “Based on a … “CAD: Where To Target USD/CAD N-Term As It’s Starting To”
EUR/USD Sinks to New Lows Despite Positive Eurozone Data
The EUR/USD currency pair today declined to new lows despite the release of positive Eurozone data such as the German unemployment change data. The release of positive US macro data including the positive core personal consumption expenditure data also contributed to the pair’s decline. The currency pair lost over 80 points at the height of its decline, to mark the third consecutive session where the pair has posted losses. The EUR/USD’s decline was triggered … “EUR/USD Sinks to New Lows Despite Positive Eurozone Data”
NZ Dollar Fails to Hold Ground After Business Confidence Worsens
The New Zealand dollar fell today, declining for the second consecutive day versus the US dollar and the Japanese yen. The currency was attempting to hold its ground at the beginning of the trading session but resumed the downward movement after the report showed a drop of the business confidence. The ANZ business confidence slipped from 19.4 in July to 18.3 in August. Yet the report was not particularly pessimistic, saying: Weâre seeing healthy readings for confidence, activity … “NZ Dollar Fails to Hold Ground After Business Confidence Worsens”
Chinese Yuan Slips, Heads for Best Month Since 2005
The Chinese yuan slipped against the US dollar today after mixed macroeconomic data. Yet the currency was still on track for the best month in more than a decade. The Peopleâs Bank of China set its official yuan midpoint to 6.6010 per dollar, 0.14% firmer than the previous day’s fixing of 6.6102. The currency has gained about 0.8% against the dollar so far this week and around 2% over the month, heading … “Chinese Yuan Slips, Heads for Best Month Since 2005”
GBP: Negative Brexit Sentiment Weights But Not Much Further
Brexit talks are into their third round. While the UK offered some concessions, the EU does not see enough progress. What does this mean for the pound? The team at BTMU analyzes: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research argues that while the negative Brexit sentiment could put a downside pressure on GBP over … “GBP: Negative Brexit Sentiment Weights But Not Much Further”
US Dollar Climbs against Major Counterparts on Strong Economic Growth
The US dollar climbed against most of its major peers on Wednesday, as investors became more optimistic in the wake of strong economic data. Fresh reports showing firm economic growth in the second quarter and solid job gains this month sent an index that tracks the greenback to the highest level since Friday. The Bureau of Economic Analysis stated in a report that was released this afternoon that its second estimate for gross domestic … “US Dollar Climbs against Major Counterparts on Strong Economic Growth”
EUR/USD Posts Major Decline on Positive US GDP Data
The EUR/USD currency pair today recorded a major decline after the release of positive US GDP data early in the North American session. The decline, which started early in today’s session, had been halted briefly after the release of positive German CPI data in the mid-European session. The currency pair lost over 90 points at the height of its decline, extending a downward slide that begun yesterday. The EUR/USD pair came under intense … “EUR/USD Posts Major Decline on Positive US GDP Data”
NZD/USD Drops, Other NZD-Crosses Stable
The New Zealand dollar fell against its US counterpart today but held steady versus other majors. Comments for the central bank’s chief and domestic macroeconomic data were detrimental to the currency. During today’s speech, Graeme Wheeler, Governor of the Reserve Bank of New Zealand, complained about the strength of the New Zealand dollar, saying: The appreciating exchange rate made it more difficult for our exporters to compete on global markets (if … “NZD/USD Drops, Other NZD-Crosses Stable”