The predictions on 2017 have now come to an end. For every great prediction that the experts can hang their hat on, there are about five that they got wrong. Now that the New Year has started and the excitement of the holiday season is well and truly out of our system, we risk getting … “Our Predictions of the Financial World in 2018”
Month: January 2018
Euro Declines Against US Dollar on Positive US Inflation Data
The euro today posted a significant decline against the US dollar after the release of US inflation data as measured by the Personal Consumption Expenditures. The euro was on a downtrend against the greenback from the Asian session due to the positive investor sentiment towards the US dollar. The EUR/USD currency pair declined by over 80 points from its opening high of 1.2432 to hit a low of 1.2346 at the time of writing. The currency pair opened today’s session on a downtrend … “Euro Declines Against US Dollar on Positive US Inflation Data”
Greenback Tries to Regain Ground on Monday, AUD/USD Goes Lower
The Australian dollar slipped versus its US counterpart today as the greenback was trying to regain ground. The Aussie was mostly little changed against other most-traded peers, though gained on the Swiss franc. The US currency was trying to recoup following last week’s losses, thus driving its rivals down. Most market analysts believed, though, that the currency remained rather vulnerable. Indeed, today’s drop of AUD/USD looked … “Greenback Tries to Regain Ground on Monday, AUD/USD Goes Lower”
Dollar Remains Extremely Vulnerable, Falls vs. Major Rivals Over Week
The theme of a weak US dollar continued to dominate the Forex market this week as the currency remained vulnerable due to a range of factors. The week started positively for the greenback as the US government reopened after a shutdown. Yet that did not last long, and the currency slumped after US Treasury Secretary Steven Mnuchin suggested that a weak dollar would be beneficial to the US economy. President Donald Trump tried to soothe the reaction to the comments, … “Dollar Remains Extremely Vulnerable, Falls vs. Major Rivals Over Week”
Canadian Dollar Firm Despite Falling CPI
The Canadian dollar rose against some of its major peers today, including the US dollar and the euro, though not all of them, falling versus the Japanese yen. The currency was relatively firm despite the bigger-than-expected drop of consumer prices. The Consumer Price Index fell 0.4% in December from the previous month (not adjusted for seasonal variations) after rising 0.3% in November. Economists had counted on a smaller 0.3% decrease. The core components … “Canadian Dollar Firm Despite Falling CPI”
US Dollar Weakens Against Euro As Q4 Economic Growth Disappoint Estimates
The US dollar weakened against the euro on Friday in the wake of a disappointing reading for gross domestic product growth in the fourth quarter of 2017. The greenback failed to find support despite a positive upturn in durable goods orders and a strong overall economic performance in 2017. The US Bureau of Economic Analysis released a report on economic growth in the fourth quarter of 2017 today. The report revealed that gross domestic product grew by 2.6% in the final quarter of the last year, … “US Dollar Weakens Against Euro As Q4 Economic Growth Disappoint Estimates”
Pound Rallies Against US Dollar on Upbeat UK GDP Data
The British pound today rallied higher against the US dollar after the release of UK preliminary GDP data for the fourth quarter of 2017. The GDP report indicated that the UK economy grew at an accelerated pace beating expectations, which triggered the rally. The GBP/USD currency pair gained over 135 points from its opening low of 1.4146 to hit a high of 1.4285. The currency pair begun its recovery from yesterday’s losses in the Asian … “Pound Rallies Against US Dollar on Upbeat UK GDP Data”
Japanese Yen Mixed After Release of Inflation Data
The Japanese yen rose against the US dollar but fell versus other most-traded currencies today after the release of inflation data. Japan’s core Consumer Price Index was up 0.9% in December from a year ago, the same as in November and in line with market expectations. The Tokyo core CPI rose 0.7% in January, while experts had expected the same 0.8% as in December. Bank of Japan Governor Haruhiko Kuroda will speak … “Japanese Yen Mixed After Release of Inflation Data”
Euro Rallies Higher Against US Dollar on Mario Draghi Speech
The euro today rallied to new 3-year highs against the US dollar after the European Central Bank left interest rates unchanged. The single currency initially headed lower after the ECB rate decision, but rallied to new highs after Mario Draghi‘s speech at the ECB’s press conference in Frankfurt. The EUR/USD currency pair today gained over 140 points from its opening low of 1.2385 to hit a high of 1.2536 after … “Euro Rallies Higher Against US Dollar on Mario Draghi Speech”
NZ Dollar Attempts to Bounce After Slump Caused by Inflation Report
The New Zealand dollar gained versus its most-traded peers today following the decline caused by the nation’s inflation print that missed market expectations. The New Zealand Consumer Price Index rose just 0.1% in the December quarter from the previous three months following the 0.5% increase in the September quarter. That is compared to the average forecast of a 0.4% increase. The report was released at the end of the previous session, though, causing a collapse of the currency … “NZ Dollar Attempts to Bounce After Slump Caused by Inflation Report”