The US dollar was vulnerable on Thursday as tumultuous US politics overshadowed positive macroeconomic data released in the United States over the trading session. Economic reports released on Thursday were rather good. In particular, core PCE inflation, the indicator closely watched by the Federal Reserve, was stable at 1.4% in October on an annual basis. That led to speculations that the Fed will be more hawkish with its monetary policy going forward. … “US Dollar Threatened by Uncertainty Associated with US Politics”
Month: November 2017
Australian Dollar Mixed Despite Supportive Macroeconomic Data
The Australian dollar was mixed during Thursday’s trading despite supportive macroeconomic data, both domestic and released in the nation’s biggest trading partner, China. Australian private capital expenditure rose 1.0% in the September quarter from the previous three months on a seasonally adjusted basis, in line with expectations. Building approvals rose 0.9% in October from September, seasonally adjusted, whereas analysts had predicted a drop by the same amount. Private sector … “Australian Dollar Mixed Despite Supportive Macroeconomic Data”
NZ Dollar Drops with Falling Business Confidence
The New Zealand dollar fell after the disappointing print of the nation’s business confidence, which a pessimistic outlook in all sectors of the economy. The ANZ Business Confidence dropped from -10.1 in October to -39.3 in November. The report commented on the reading: Uncertainty around changing Government policy, a softer housing market, and difficulty getting credit are likely culprits. Now, traders wait for the trade data due for release at 21:45 GMT today. NZD/USD dropped … “NZ Dollar Drops with Falling Business Confidence”
Swiss Franc Mixed After Economic Data
The Swiss franc was mixed today, rising against some currencies, falling against others, and staying flat versus the US dollar. That was not surprising, considering that Switzerland’s economic data released over the trading session was mixed as well. Swiss gross domestic product rose 0.6% in the third quarter of this year, in line with expectations and accelerating from the second quarter’s revised 0.4% rate of growth. The KOF … “Swiss Franc Mixed After Economic Data”
Euro Rallies to New Highs Against US Dollar on PCE Data
The EUR/USD currency pair today rallied to new highs after the release of US Personal Consumption Expenditure report in the early American session. The currency pair had been trending downwards after the release of the Eurozone Consumer Price Index, which was below expectations. The EUR/USD currency pair rallied by over 100 points from its daily low of 1.1809 to hit a high of 1.1912 and was on an uptrend at the time of writing. The currency pair hit … “Euro Rallies to New Highs Against US Dollar on PCE Data”
USD/CAD: Targeting 1.33 in Q1 2017 – good reasons to sell the loonie
Yesterday we published a view of the next moves in the C$, pointing to the downside. Here is another opinion, also supporting the downtrend in CAD, or uptrend in USD/CAD: Here is their view, courtesy of eFXnews: CIBC FX Strategy Research discusses USD/CAD outlook and notes that while talk of a BoC December rate hike … “USD/CAD: Targeting 1.33 in Q1 2017 – good reasons to sell the loonie”
British Pound Rises to Highest Level in Two Months on Strong Housing Market
The British pound rose to the highest level against the US dollar in more than two months on Thursday, as home prices rose more than expected in the United Kingdom. The British currency also touched its best level against the euro in a month following disappointing inflation data in the European Union. The Nationwide Building Society released a report earlier today that stated that the house price index rose 0.1% on a monthly basis in November … “British Pound Rises to Highest Level in Two Months on Strong Housing Market”
GBP/USD could reach 1.36-1.37 by year end – two opinions
The pound advanced on hopes for a Brexit breakthrough. Here are two opinions that represent the targets that this optimism entails for the pound. We still have our doubts. The EU is very tough on the UK and the Irish issue also looms large. Here is their view, courtesy of eFXnews: GBP/USD: Breakthrough In Brexit … “GBP/USD could reach 1.36-1.37 by year end – two opinions”
Euro Drops Further Against US Dollar on US GDP Report
The euro today dropped to new lows against the US dollar after the release of positive US GDP data for Q3 2017 in the early American session. The EUR/USD currency pair was on a downtrend after the release of German CPI data in the mid-European session among other Eurozone releases. The EUR/USD currency pair declined by over 65 points from its daily high of 1.1883 to hit a low of 1.1816 before retracing some of its losses. … “Euro Drops Further Against US Dollar on US GDP Report”
Sterling Reverses Losses on Report About Breakthrough in Brexit Talks
The Great Britain pound rose sharply today, reversing earlier losses, after the report that Britain and the European Union have reached a major breakthrough in the Brexit negotiations. The sterling has been vulnerable today, but that changed after the report from the Telegraph that Britain and the EU made an outline deal about the Brexit bill. It looks like the sides achieved an agreement about the amount of money Britain needs to pay for leaving … “Sterling Reverses Losses on Report About Breakthrough in Brexit Talks”