The US dollar rose against other major currencies on Monday following the release of manufacturing activity data that exceeded analyst estimates. Expectations of higher interest rates in the short term led an index that tracks the strength of the greenback touched its highest level in about one and half months. The Institute for Supply Management stated in a report that was published today that the manufacturing purchasing managersâ index had a reading of 60.8 in September. … “US Dollar Rises as Manufacturing Data Exceeds Expectations”
Month: October 2017
British Pound Declines Against US Dollar on Weak PMI Data
The British pound today weakened against the US dollar after the release of weak UK manufacturing PMI data early in the European session. Several releases from the US docket such as the ISM Manufacturing Index in the early North American session also drove the British pound lower against the greenback. The GBP/USD currency pair was on a downtrend for most of today’s session losing about 130 points at the height of its steady decline. The currency pair’s … “British Pound Declines Against US Dollar on Weak PMI Data”
Tankan Survey Mixed, Japanese Yen Falls vs. Dollar
The Japanese yen fell against the US dollar but rose against other major rivals today after the important Japanese indicator, Tankan survey, showed somewhat mixed results. According to the survey, the index of business conditions for major manufacturers increased from 17 in the June quarter to 22 in the September quarter, exceeding market expectations. But the non-manufacturing index remained unchanged at 23, whereas experts were anticipating an increase, albeit a small one. … “Tankan Survey Mixed, Japanese Yen Falls vs. Dollar”
Euro Stable After Catalan Independence Referendum
Political crisis in Spain led to worries among investors and drove prices for European assets down. Yet the euro was showing muted reaction to the news so far. Catalonia held a referendum about independence from the rest of Spain, which resulted in an overwhelming yes vote. The Spanish government called the referendum illegal and initiated a harsh crackdown on the Catalan separatists. For now, the euro was either flat or just slightly down against its rivals. … “Euro Stable After Catalan Independence Referendum”
Trading off the Phoenix Economy
Like life, countries, and economies go through different periods, sometimes difficult sometimes strong. There are times when the world is knocking at your door, desperate for that commodity or service that your country exports. Most countries can point to a time when this was the case. History will show that India exported spices, China – … “Trading off the Phoenix Economy”