The EUR/USD currency pair today traded lower following the release of the German GfK consumer confidence survey retracing all the gains made in the Asian session. The currency pair posted more losses after the release of the US Q4 GDP data in the early American session and was on track to book a second consecutive losing session. The EUR/USD currency traded in a 56-point range between a high of 1.2242 and a low of 1.2186. The currency pair rallied higher during … “EUR/USD Declines on Eurozone Releases and US GDP Report”
Month: February 2018
NZ Dollar Drops Despite Improving Business Confidence
The New Zealand dollar declined today. The currency fell even as the business confidence improved, though remained in the negative territory. The ANZ business confidence index rose from -37.8 in January to -19.0 in February. That means that a net 19% of businesses are pessimistic about the year ahead. The report stated: We may not have a lot of altitude just yet, but weâre off the end of the ski jump and no longer heading … “NZ Dollar Drops Despite Improving Business Confidence”
British Pound Slumps to New Lows on Tough EU Brexit Stance
The British pound today dropped to new lows against the US dollar after the European Union released a tough draft Brexit withdrawal agreement. The UK Prime Minister rejected the deal saying that no UK leader would ever sign such a one-sided deal with the EU triggering a massive sell-off in the cable. The GBP/USD currency pair lost over 100 points to decline from a high of 1.3917 to a low of 1.3807 in the mid-European session. … “British Pound Slumps to New Lows on Tough EU Brexit Stance”
Euro Drops to New Lows on Weak German Inflation Report
The euro today dropped to new lows against the US dollar after the release of weak German preliminary CPI data in the mid-European session. Several disappointing releases from the US docket in the early American session could not reverse the euro’s decline against the greenback. The EUR/USD currency pair lost over 100 points from a daily high of 1.2346 to trade at a low of 1.2242 at the time of writing. The currency pair’s massive decline was triggered … “Euro Drops to New Lows on Weak German Inflation Report”
Hungarian Forint Drops After Central Banks Stays Put
The Hungarian forint fell today after Hungary’s central bank left all of its interest rates unchanged and promised to keep monetary policy accommodative for a long period of time. The Magyar Nemzeti Bank left its main interest rate at 0.9%, keeping other rates unchanged as well. The bank said in its statement: In the Councilâs assessment, maintaining the loose monetary conditions for an extended period are necessary to achieve the inflation target in a sustainable manner. … “Hungarian Forint Drops After Central Banks Stays Put”
NZ Dollar Drops After Trade Balance Turns to Deficit
The New Zealand dollar fell today following the release of New Zealand’s trade data overnight even though the report was better than forecasts. The New Zealand trade balance showed a deficit of NZ$566 million in January after logging a surplus of NZ$596 million in December. The actual gap was nowhere near the forecast shortage of NZ$2,710 million. On the other hand, it was the biggest January deficit since 2007. NZD/USD dropped from … “NZ Dollar Drops After Trade Balance Turns to Deficit”
Great Britain Pound Retreats After Prior Rally
The Bank of England retreated today following the rebound of the US dollar. Earlier, the sterling rallied against some of its rivals thanks to comments from various UK policy makers and politicians. One of the comments was the signal from Bank of England Deputy Governor Dave Ramsden that interest rates may be raised relatively soon. He said in an interview on Saturday: I see the case for rates rising somewhat sooner rather than somewhat … “Great Britain Pound Retreats After Prior Rally”
Euro Declines Despite Positive German GDP and Eurozone CPI
The euro today declined against the US dollar despite the release of positive German Q4 GDP report, and also ignored the release of positive Eurozone inflation data. The euro extended its decline from the Asian session into the European session following the greenback’s recovery, which started during yesterday’s American session. The EUR/USD currency pair was lost over 50 points to decline from an opening high of 1.2332 to a low of 1.2279 before … “Euro Declines Despite Positive German GDP and Eurozone CPI”
Japanese Yen Third Strongest Currency on Friday
The Japanese yen was generally strong today, rising against the euro and various other most-traded peers, but was unable to beat the US dollar and the Great Britain pound. Japan’s economic data released today was mixed. The core Consumer Price Index rose 0.9% in January from a year ago, the same as in the previous month, while experts had expected a bit smaller increase by 0.8%. The Services Producer Price Index rose … “Japanese Yen Third Strongest Currency on Friday”
Positive Retail Sales Data Doesn’t Help NZD Overcome Weakness
Commodity currencies were generally weak today. That translated to the New Zealand dollar even though domestic macroeconomic data was very good. Retail sales increased by 1.7% in the December quarter after increasing 0.3% in the previous three months. Analysts had predicted a smaller increase by 1.4%. The report allowed the kiwi to pause decline for a short while, but ultimately currency resumes its drop. NZD/USD dropped from 0.7337 to 0.7293 … “Positive Retail Sales Data Doesn’t Help NZD Overcome Weakness”