The US dollar today weakened against its main trading partner, the euro, despite positive consumer confidence data as tracked by the University of Michigan. The US dollar was depressed against the euro largely due to the uncertainty emanating from the White House as due to President Donald Trump‘s recent comments. The US Dollar Index, which tracks the performance of the US dollar against a basket of its peers, hit new daily lows below 93.40 … “US Dollar Weakens Against Euro Despite Positive Consumer Confidence Data”
Month: August 2017
Quiet Times for Markets Tend to End With Big Drops
Could today be such a day? I have been monitoring the US indices for quite some time now. I am in no way trying to pick a top, but sometimes it is just great to share your observations. Correct me if I am wrong, but US indices look exhausted. I have been recently looking at … “Quiet Times for Markets Tend to End With Big Drops”
US Dollar Gives up Early Gains as Political Woes Remain in Play
The US dollar rose against the euro and other major currencies on Thursday, even after giving up some of the gains it made earlier today. A smaller drop than expected in manufacturing activity in Philadelphia and a low number of jobless claims supported the greenback. However, rippling effects from the Federal Reserveâs meeting minutes and political developments in the United States limited the greenbackâs gains today. An index that tracks manufacturing conditions in the Philadelphia region … “US Dollar Gives up Early Gains as Political Woes Remain in Play”
Euro Declines Against US Dollar on Dovish ECB Minutes
The euro today declined against the US dollar after the release of the European Central Bank‘s minutes of their monetary policy meeting, which outlined a dovish stance. The US dollar was stronger against the euro due to the high buying interest in the greenback as tracked by the US Dollar Index, which hit new highs in today’s session. The EUR/USD currency pair lost over 100 points at the height of its decline as investors reacted to the dovish ECB … “Euro Declines Against US Dollar on Dovish ECB Minutes”
FOMC minutes – a rate hike still coming in December?
The FOMC meeting minutes hurt the US dollar, which is back to the back foot. But what does it mean for the next moves of the Fed? Here are two views: Here is their view, courtesy of eFXnews: USD: FOMC Minutes: Still Confident Of One More Fed Hike Before Year-End – SEB SEB Research comments on … “FOMC minutes – a rate hike still coming in December?”
British Pound Declines Against US Dollar Despite Positive Jobs Data
The British pound today rallied higher briefly against the US dollar after the release of positive UK labour market report, but later declined retracing most of its gains. The weak US housing data barely had an impact on the GBP/USD currency pair, which was weighed down by the Bank of England‘s dovish stand. The GBP/USD currency pair declined by over 60 points from the height of its brief rally after the positive … “British Pound Declines Against US Dollar Despite Positive Jobs Data”
On that CAD/Crude correlation – update
It has been a quiet period for Crude Oil. I have just spotted a possible reversal pattern at the major support level above 47.00. It seems like there is a small rejection candle. The candle formed just above the support level, which gives further reassurance. One potential scenario that I will be looking at is … “On that CAD/Crude correlation – update”
US Dollar Rallies Higher Against Peers on Positive Advance Retail Sales
The US dollar today rallied higher against its main peers including the British pound and the Japanese yen after the release of positive US advance retail sales data. The greenback’s rally was also supported by the positive New York Empire State Manufacturing Index, which also exceeded expectations. The US dollar’s rally, as tracked by the US Dollar Index was impressive as the index hit a session high of 94.10, which was last … “US Dollar Rallies Higher Against Peers on Positive Advance Retail Sales”
British Pound Declines as UK Inflation Data Misses Estimates
The British pound declined against most of its major peers on Tuesday following the release of two reports that revealed that inflation in the United Kingdom remained dormant in July. The British currency weakened further against the greenback as strong US retail sales numbers surprised investors. The official index for tracking changes in consumer prices of goods and services in the United Kingdom dropped 0.1% between June and July, according to todayâs release. The drop disappointed … “British Pound Declines as UK Inflation Data Misses Estimates”
EUR/USD Hits New Daily Lows Despite Strong German GDP Data
The EUR/USD currency pair today hit new session lows despite the release of strong German GDP data by the Federal Statistical Office. The currency pair was under intense selling pressure for the second consecutive session given the strong US dollar. The currency pair lost about 70 points at the height of it decline after the release of the German GDP data, but had since retraced come of its losses. The EUR/USD currency pair … “EUR/USD Hits New Daily Lows Despite Strong German GDP Data”