The international crude oil prices continued to post solid gains over the past two months. Price of WTI crude oil reached $57.87 a barrel after crude oil prices broke past the technical resistance barrier of 57.25 – 51.80 just last month. The gains in oil prices came amid a mix of both fundamental and political … “Saudi Arabia rattles oil markets head of OPEC meetings”
Month: November 2017
Euro Rallies Against US Dollar on Positive German GDP Data
The euro today rallied higher against the US dollar after the release of German GDP data by the Federal Statistical Office. Other releases from the Eurozone including the higher consumer prices in Germany served to boost the euro against the greenback. The EUR/USD currency pair rallied by over 45 points to hit a high of 1.1710 after the German releases. The release of the German GDP data for the third quarter of 2017 was the main trigger for the euro’s rally. The Q3 … “Euro Rallies Against US Dollar on Positive German GDP Data”
US Dollar Posts Limited Gains as Week Starts
The US dollar was trading marginally higher against its major peers on Monday, though it logged more substantial gains versus the vulnerable Great Britain pound and was almost flat versus the euro. The dollar had some support from the general risk aversion as well as from the specific concerns about the political turmoil in the United Kingdom. Meanwhile, traders were waiting for the outcome of the debates about the long-awaited tax reform in the United … “US Dollar Posts Limited Gains as Week Starts”
Australian Dollar Creeps Down During Monday’s Quiet Trading
The Australian dollar was moving gradually down during the Monday’s uneventful trading session. The Aussie has started a longer-term decline back on September 21. While the currency was attempting to move sideways by the end of October, it has entered a shorter-term downtrend on November 3. Analysts theorized that the currency’s weakness was a result of sluggish inflation, which did not pick up despite solid economic growth. And while the Reserve Bank … “Australian Dollar Creeps Down During Monday’s Quiet Trading”
EUR/USD: stabilization and a rise? Two opinions
EUR/USD is trading at the 1.16 handle. Has it stabilized in this region? Will it move up from these levels? Here are two opinions about the current state of affairs in the pair. Here is their view, courtesy of eFXnews: EUR/USD: Signs Of Stabilization; Above 1.15 Diminish Risk Of Deeper Pullback – BTMU BTMU FX … “EUR/USD: stabilization and a rise? Two opinions”
Pound Slides as Theresa May Faces Fresh Challenges to Leadership
The Great Britain pound fell today, losing 100 pips against the US dollar intraday. The sterling’s performance against other majors was no better. The main reason for the drop was political turmoil in Britain. UK Prime Minister Theresa May faced a fresh challenge to her leadership as 40 Parliament members of her Conservative party agreed to sign a letter of no confidence to May. That was just eight members short … “Pound Slides as Theresa May Faces Fresh Challenges to Leadership”
The Emergence of Ethereum – Its Technology, Blockchain and Brokers
Cryptocurrencies, or “digital coins”, enable the instant transfer of money by means of electronic networks. These currencies may be used for the purchase of physical commodities, but they are also increasingly used for transactions across the Internet. There are many cryptocurrencies available on the market, with two of the most renowned hitting the headlines on … “The Emergence of Ethereum – Its Technology, Blockchain and Brokers”
The Emergence of Ethereum – Its Technology, Blockchain and Brokers
Cryptocurrencies, or “digital coins”, enable the instant transfer of money by means of electronic networks. These currencies may be used for the purchase of physical commodities, but they are also increasingly used for transactions across the Internet. There are many cryptocurrencies available on the market, with two of the most renowned hitting the headlines on … “The Emergence of Ethereum – Its Technology, Blockchain and Brokers”
Dollar Ends Uneventful Week Soft
The US dollar ended the uneventful week somewhat soft, falling against its major rivals. With absence of major economic releases, markets focused on the US tax bills. Investors were hoping that tax cuts promised by President Donald Trump will bolster the US economy. Yet the bill presented by the Senate was different compared to the one proposed by the House of Representatives, offering to delay corporate tax cuts by a year. That cast … “Dollar Ends Uneventful Week Soft”
EUR/USD Rallies Briefly on Weak Consumer Sentiment Data
The euro today rallied briefly against the US dollar after the release of weak consumer sentiment data by the University of Michigan. This was the second rally by the single currency today as the euro had rallied against the US dollar earlier in the European session, but had given up most of its gains. The EUR/USD currency pair rallied by over 50 points from its daily lows to hit a high of 1.1680, but quickly retraced … “EUR/USD Rallies Briefly on Weak Consumer Sentiment Data”