The Canadian dollar today declined against its US counterpart after the release of weak Canadian retail sales data in the early American session. The Canadian dollar was slightly stronger against the US dollar earlier in today’s session as the USD/CAD currency pair extended yesterday’s decline following the dovish FOMC minutes. The USD/CAD currency pair opened today’s session on a downtrend where it hit a low of 1.2675 before the release of the retail sales. … “Canadian Dollar Declines Against US Dollar on Weak Retail Sales”
Month: November 2017
GBP/USD Tumbles to New Lows on UK GDP Data
The GBP/USD currency pair lost all its early gains and tumbled to new session lows after the release of UK GDP growth estimates, which were in line with expectations. The currency pair was on track to retrace some of the gains made during the previous session as the pair had rallied on weak US data. The GBP/USD currency pair lost over 50 points to hit a daily low of 1.3284 after the release of the GDP data. … “GBP/USD Tumbles to New Lows on UK GDP Data”
ETH/USD trading in a narrowing triangle – where will it break to?
Should we look to higher lows or lower highs? The price of Etherium is trading in a narrowing wedge or triangle. The peak price of $446 was recorded in early June. From there, the pair dropped all the way to $140 in mid-July. Both lines are the extremes of the triangle and from there we … “ETH/USD trading in a narrowing triangle – where will it break to?”
NZ Dollar Recovers After Disappointing Retail Sales
The New Zealand dollar rose during Thursday’s quiet trading. The currency weakened following the release of disappointing retail sales data, but quickly recovered. New Zealand retail sales rose just 0.2% in the September quarter from the previous three months versus the forecast increase of 0.4% and the previous quarter’s growth of 1.8%. The core components of the indicator rose by 0.5%, compared to the predicted increase of 0.9% and the gain by 1.9% registered in the previous reporting period. … “NZ Dollar Recovers After Disappointing Retail Sales”
US Dollar Loses Ground Against Euro as Orders of Durable Goods Miss Estimates
The US dollar retreated against the euro on Wednesday to its lowest level in two days following a data release that revealed lower than expected demand for durable goods in October. Investors are now anticipating the minutes of the Federal Open Market Committeeâs latest monetary policy meeting, which is due to be published later today. The US Census Bureau published its monthly report on manufacturersâ shipments and orders earlier today. … “US Dollar Loses Ground Against Euro as Orders of Durable Goods Miss Estimates”
British Pound Rallies Against US Dollar on Weak US Data
The British pound today rallied to new highs against the US dollar after the release of disappointing US durable goods orders. The pound had hit daily lows after the Chancellor of the Exchequer, Philip Hammond released the government’s Autumn Budget 2017. The GBP/USD currency pair gained over 60 points from its daily low hit after the release of Autumn budget, to trade at daily highs above 1.3270 boosted by the release of the weak … “British Pound Rallies Against US Dollar on Weak US Data”
Australian Dollar Soft Despite Positive Reports
The Australian dollar fell today despite positive macroeconomic data. Minutes of a monetary policy meeting released by the Reserve Bank of Australia yesterday were somewhat dovish, adding to the pressure on the currency. The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index rose from â0.02% in September to +0.44% in October. Construction work done climbed by 15.7% in September from the previous three months instead of falling by 2.1% as was predicted. The RBA released … “Australian Dollar Soft Despite Positive Reports”
Yellen worried about inflation – will the dollar fall?
Fed Chair Janet Yellen may be on her way out, but she still has her say and her words may also reflect the thoughts of her successor Jerome Powell. Speaking in New York, Yellen said that inflation may NOT be transitory. This is yet another gradual change in her approach. Earlier in the year, she did … “Yellen worried about inflation – will the dollar fall?”
GBP/USD Retraces Earlier Gains as the US Dollar Index Surges
The GBP/USD currency pair today retraced some of its earlier gains made during the European session in the North American session as the US Dollar Index rallied higher. The currency pair had rallied higher during the mid-European session after the release of UK CBI trends data, which beat expectations. The GBP/USD currency pair rallied to a daily high of 1.3267 early in the European session before trending lower to hit a daily low of 1.3209, … “GBP/USD Retraces Earlier Gains as the US Dollar Index Surges”
US Dollar Moves Marginally Higher as Home Sales Improve More Than Expected in October
The US dollar moved marginally higher against the euro on Tuesday following the release of better than expected data for the housing market in the United States. However, investorsâ anticipation for a speech that Federal Reserve Chairwoman Janet Yellen is scheduled to give tomorrow has kept the greenbackâs gains dormant today. The number of previously owned homes that were sold in the United States beat estimates in October as the housing market overcame disruptions caused … “US Dollar Moves Marginally Higher as Home Sales Improve More Than Expected in October”