The euro today rallied higher against the US dollar amid a raft of macro releases from both the Eurozone and the US dockets. The single currency was boosted by the release of German December employment change data, which was better than expected. The EUR/USD currency pair today gained over 70 points from a low of 1.2399 to hit a high of 1.2473. The currency pair was on an uptrend from the Asian session as investors ditched the greenback … “Euro Rallies Higher Against US Dollar on Upbeat Eurozone CPI”
Month: January 2018
Australian Dollar Bounces After Losses Caused by Disappointing Data
The Australian dollar slumped at the start of the current trading session, driven down by disappointing domestic macroeconomic reports, but managed to bounce by now. The Australian Consumer Price Index rose 0.6% in the December quarter from the previous three months, the same as in the September quarter but below the analysts’ projection of 0.7%. The trimmed mean CPI increased by 0.4%, also demonstrating the similar rate of growth to that of the previous quarter but missing expectations of a 0.5% increase. … “Australian Dollar Bounces After Losses Caused by Disappointing Data”
NZ Dollar Strong Despite Mixed Data from China
The New Zealand dollar was extremely strong today, jumping more than 1% against such most-traded currencies as the US dollar and the Japanese yen, despite mixed economic reports from New Zealand’s biggest trading partner — China. The China Federation of Logistics and Purchasing reported that the manufacturing Purchasing Managers’ Index slipped from 51.6 to 51.3 in January. Meanwhile, the non-manufacturing PMI gained from 55.0 to 55.3. Earlier this week, … “NZ Dollar Strong Despite Mixed Data from China”
Japanese Yen Rallies After Stocks Sell-Off, Struggles to Keep Gains
The Japanese yen rallied today but struggled to keep gains, losing them against some rivals outright. The possible reason for the rally was a massive sell-off of global stocks. As for macroeconomic indicators released in Japan over the course of the trading session, they were mixed. Stocks all over the world were in retreat today, like the Dow Jones Industrial Average that has lost more than 300 points during the Tuesday’s session. … “Japanese Yen Rallies After Stocks Sell-Off, Struggles to Keep Gains”
Euro Bounces with Help from Positive GDP Figures
The euro was down intraday during the Tuesday’s session but bounced later, getting support from positive GDP figure released from the eurozone. Not all European macroeconomic indicators were good, though. French gross domestic product increased by 0.6% in the fourth quarter of 2017, a bit more than analysts had predicted — 0.5%. Spanish GDP rose by 0.7%, in line with expectations and somewhat slower than the 0.8% rate … “Euro Bounces with Help from Positive GDP Figures”
US Dollar Plummets As Anticipation Builds Up for Interest Rate Decision
The US dollar plummeted against the euro to reach its lowest level in four days as traders held their positions while they wait to see the outcome of the Federal Open Market Committee‘s meeting. The greenback also weakened versus the British pound today following a strong reading for UK consumer credit in December, which overshadowed worries about the future of the Brexit negotiations. The Federal Open Market Committee is scheduled to end its latest … “US Dollar Plummets As Anticipation Builds Up for Interest Rate Decision”
GBP/USD Rallies Higher on UK Credit Data and US Dollar Weakness
The GBP/USD currency pair today rallied to new highs buoyed by US dollar weakness due to a decline in US Treasury yields and positive UK credit data. The currency pair was on a donwtrend from the Asian session to the early European session as investors reacted to political uncertainty in the UK. The GBP/USD currency pair gained 170 points from a low of 1.3980 in the early European session to hit a high of 1.4150 in the early American session. The pound opened … “GBP/USD Rallies Higher on UK Credit Data and US Dollar Weakness”
NZ Dollar Behaves Similar to Aussie, Ignoring New Zealand Trade Balance
The New Zealand dollar fell earlier today but has bounced by now, behaving similar to its Australian counterpart. The trade balance report released close to the end of the previous trading session provided a positive surprise, but it had a negligible impact on the currency. The New Zealand trade balance logged a surplus of NZ$640 million in December after posting a deficit of NZ$1,233 million in the previous month. The actual figure was far better than … “NZ Dollar Behaves Similar to Aussie, Ignoring New Zealand Trade Balance”
Aussie Falls Despite Improving Business Confidence, Trims Losses Later
The Australian dollar slipped intraday despite the improving business confidence but has trimmed its losses by now, erasing them against the US dollar outright. The National Australia Bank reported that the business confidence index increased from +7 to +11 in December, reaching the highest level since July 2017. The report said that the rise was “perhaps driven by a stronger global economic backdrop.” The business conditions index was unchanged … “Aussie Falls Despite Improving Business Confidence, Trims Losses Later”
Is EUR/USD heading to 1.27? Two models point that way
EUR/USD topped 1.25 in a turbulent week before falling back to the 1.24 handle. Mnuchin, Draghi, and Trump all moved the world’s most popular currency pair. What do the technical levels say? Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD: Path Of Least Resistance Remains A Higher EUR; S/T Models Point … “Is EUR/USD heading to 1.27? Two models point that way”