The last trading week of the year was not good for the US dollar as the currency was falling against all of its rivals during holiday’s quiet trading, dropping more than 1% against most of them. As to be expected, there were no major events during the week. With no important new factors to drive the market, analysts were discussing the old news, like the US tax reform and the Federal Reserve’s plans … “Dollar Ends Last Trading Week of 2017 on Weak Footing”
Month: December 2017
Euro Rallies Higher Against US Dollar on Last 2017 Trading Day
The euro today rallied higher against the US dollar mainly boosted by weak US Treasury yields, which contributed significantly to the greenback’s overall weakness. The release of the German CPI data for December could have also contributed to the single currency’s rally despite recording a slight decline. The EUR/USD currency pair rallied by over 70 points from its daily low of 1.1936 reached during the Asian session to hit a high of 1.2011 in the American … “Euro Rallies Higher Against US Dollar on Last 2017 Trading Day”
USD/CAD Declines to Trade near 2-Month Lows on Soft US Data
The USD/CAD currency pair today declined to trade near 2-month lows after the release of weak US advance goods trade balance data in the North American session. If the pair does not recoup its current losses, today would mark the seventh straight session in which the pair closes with a loss. The USD/CAD currency pair lost over 70 points to decline from a daily high of 1.2653 to a low of 1.2577 in the early … “USD/CAD Declines to Trade near 2-Month Lows on Soft US Data”
Euro Hits New Highs Against US Dollar on Weak US Trade Data
The euro today hit new highs against the US dollar after the release of soft US advance goods trade balance data among other releases. The EUR/USD currency pair today reversed a dip that occurred during the mid-European session boosted by falling US Treasury yields. The EUR/USD currency pair today rallied by over 50 points from a low of 1.1895 in the Asian session to a high of 1.1950 in the American session. The euro today … “Euro Hits New Highs Against US Dollar on Weak US Trade Data”
Aussie Pauses Rally, Bulls Unafraid
The Australian dollar fell today, but market analysts argued that it looks more like profit-taking after the strong rally than a trend-change. In fact, the Aussie continued to rise against its US counterpart, logging the sixth consecutive daily gain. Some economists theorized that the Australian dollar suffered as the surging US Treasury bond yields made investors take profit from higher-yielding currencies. It is not surprising … “Aussie Pauses Rally, Bulls Unafraid”
USD/JPY Drops on Japanese Data, BoJ Summary of Opinions
The Japanese yen gained on the very soft US dollar today thanks to better-than-expected macroeconomic data released in Japan over the trading session and signs that some policy makers want to end the era of ultra-loose monetary policy. The currency showed mixed performance versus other most-traded peers. The Bank of Japan released the Summary of Opinions at the monetary policy meeting that happened last week. It showed that some of the central bank’s members … “USD/JPY Drops on Japanese Data, BoJ Summary of Opinions”
USD/CAD Falls to 3-Week Lows on Oil Price Rally
The USD/CAD currency pair today fell to new 3-week lows as the Canadian dollar rallied against its US counterpart boosted by a rally in global oil prices. The release of US consumer confidence index for December also contributed to the currency pair’s decline as it did not meet expectations. The USD/CAD currency pair fell by about 70 points from a daily high of 1.2695 hit during the Asian session to a low of 1.2625 in the early American … “USD/CAD Falls to 3-Week Lows on Oil Price Rally”
Ethereum price: ETH/USD sliding but holds onto support – buying opportunity?
ETH/USD is trading around $740, well within a well-defined trading range when looking at regular lines of support and resistance and also looking at the uptrend channel. The lines are currently converging at a critical spot. If this line holds, there may be a buying opportunity, at least from a technical perspective. Ethereum suffered from the … “Ethereum price: ETH/USD sliding but holds onto support – buying opportunity?”
Japanese Yen Weak Despite Housing Data
The Japanese yen was soft today against its most-traded rivals, with the exception of the safe haven currencies, even as macroeconomic data released during the current trading session in Japan was better than expected. According to the official data, the number of housing starts in Japan fell by 0.4% in November from a year ago. That was a far better reading than a drop by 2.5% predicted by analysts and the 4.8% slump registered in October. But … “Japanese Yen Weak Despite Housing Data”
Euro Rallies Against US Dollar on Positive Investor Sentiment
The euro today rallied higher against the US dollar boosted by positive investor sentiment towards the single currency. The lack of any significant data from the Eurozone economic docket means that the single currency’s rally was not triggered by any fundamental drivers. The EUR/USD currency pair today rallied by about 45 points from a daily low of 1.1854 to hit a high of 1.1899, but could not overcome the crucial 1.1900 resistance … “Euro Rallies Against US Dollar on Positive Investor Sentiment”