With reported wind speeds of up to 130 mph and over nine trillion gallons of water falling in torrential rains on the coast alone, the destruction rendered by Hurricane Harvey will surely go down as one of the largest and most devastating hurricanes in US history. Initially, the world has watched in horror as pictures … “The Economic Toll of Hurricane Harvey”
Month: September 2017
Can EUR/USD reach even higher ground? – 3 opinions
Mario Draghi did his best to talk down the euro, complaining about the exchange rate. This did not succeed, to say the least. What’s next? Here are three opinions: Here is their view, courtesy of eFXnews: EUR/USD: Market Won’t ‘Overdo’ EUR Rise Post-ECB; Where To Target? – NAB NAB Research comments on today’s ECB September policy … “Can EUR/USD reach even higher ground? – 3 opinions”
USD/CAD Rallies Higher Despite Positive Canadian Employment Data
The USD/CAD currency pair today rallied higher despite the release of positive Canadian employment data by Statistics Canada. The pair’s upward momentum is likely to have been caused by the fact that the loonie had exhausted all its previous momentum after the Bank of Canada rate hike earlier this week. The USD/CAD pair rallied by over 100 points from its session lows signalling that the pair had hit a support … “USD/CAD Rallies Higher Despite Positive Canadian Employment Data”
GBP/USD Rallies to New Monthly Highs on Positive UK Data
The GBP/USD currency pair today rallied to new highs after the release of positive UK industrial production data by the Office for National Statistics early in the European session. The selling tone around the US dollar also contributed to the currency pair’s rally even as the US Dollar Index hit yearly lows earlier today. The GBP/USD pair today hit new monthly highs last witnessed on August 4th as it rallied by over 120 points … “GBP/USD Rallies to New Monthly Highs on Positive UK Data”
Aussie Gains on Greenback, Falls vs. Other Rivals
The Australian dollar gained versus its US counterpart, touching the highest level since May 2015, on the back of the US dollar’s weakness. The Aussie gained on the euro as well, but lost its gains versus the Japanese yen. Number of home loans in Australia rose 2.9% in July from June on a seasonally adjusted basis, far exceeding the forecast increase 1.0%. The trade balance surplus reported by China, Australia’s biggest trading partner, narrowed … “Aussie Gains on Greenback, Falls vs. Other Rivals”
Yen Gains Despite Disappointing Growth of Japan’s Economy
The Japanese yen gained on its major rivals (though not on the Great Britain pound) today despite mixed domestic economic indicators. The likely reason for the currency’s good performance was the market sentiment that favored safer currencies. Growth of Japan’s gross domestic product in the second quarter of this year was finalized at 0.6%. It was slower than the median forecast of 0.7% and the preliminary estimate of 1.0% but faster than the 0.3% … “Yen Gains Despite Disappointing Growth of Japan’s Economy”
Aussie Gains on Greenback, Dragged Down vs. Other Rivals by Economic Data
The Australian dollar joined the broad based rally against its US rival. Against other currencies, the Aussie declined as basically all domestic macroeconomic reports released over the Thursday’s session were poor. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index registered a reading of 55.3 in August, down from 60.5 in the previous month. Australia’s seasonally adjusted retail sales showed no change in July, … “Aussie Gains on Greenback, Dragged Down vs. Other Rivals by Economic Data”
Pound Gains on Vulnerable Dollar, Falls Against Other Rivals
The GBP/USD currency pair (also know as the Cable) rallied today on the back of the US dollar’s weakness. The Great Britain pound fell against other currencies, though. In fact, there were speculations that the sterling may reach parity with the euro. Today’s comments from European Central Bank President Mario Draghi sent the US dollar lower against other currencies, helping the Cable to gain. Yet the situation does not look … “Pound Gains on Vulnerable Dollar, Falls Against Other Rivals”
Canadian Dollar Consolidates Gains Made Against US Dollar
The Canadian dollar today consolidated gains made against its US counterpart yesterday after the BoC rate hike decision. The USD/CAD pair tested new lows after the release of disappointing US jobless claims data and weak Canadian building permits data early in the North American session. The USD/CAD pair lost over 110 points at the height of its decline as the loonie gained steadily against the greenback throughout today’s session. The Canadian … “Canadian Dollar Consolidates Gains Made Against US Dollar”
US Dollar Loses Ground Against Euro Following ECB Decision
The US dollar fell against the euro on Thursday following the latest monetary policy decision from the European Central Bank, which maintained interest rates unchanged. The greenback further weakened in the wake of lackluster economic data in the United States. Following its latest meeting, The European Central Bank said in a press release earlier today that the Governing Council decided to keep interest rates at 0% in a move that was widely expected by analysts. … “US Dollar Loses Ground Against Euro Following ECB Decision”