The EUR/USD currency pair today traded sideways in a tight range following the release of positive German employment change data in the early European session. The release of the weak German Consumer Price Index data in the mid-European session also had a subdued impact on the single currency. The EUR/USD currency pair traded mostly in a range between a high of 1.2335 and a low of 1.2292 and was rejected multiple times from both support and resistance levels. The positive German … “EUR/USD Trades Sideways on Mixed German and US Data”
Month: March 2018
Pound Declines Against US Dollar on UK GDP and Current Account Data
The British pound today declined against the US dollar after the release of the UK Q4 GDP data and the country’s current account data, which were published in the early European session. The current account deficit boosted the pair slightly by coming in lower than expected, while the GDP data did not provided the added boost to the currency pair as expected. The GBP/USD currency pair today lost over 60 points to decline from a high … “Pound Declines Against US Dollar on UK GDP and Current Account Data”
Japanese Yen Gains on Rivals After Retail Sales Data
The Japanese yen gained on its most-traded rivals today. The rally followed the retail sales report, though it did not start immediately after the release of the data. Japan’s Ministry of Economy, Trade and Industry reported that retail sales increased 1.6% in February from a year ago. That was faster than the 1.5% growth in January but slower than 1.7% predicted by economists. Month-over-month, the sales were up 0.4%. USD/JPY … “Japanese Yen Gains on Rivals After Retail Sales Data”
NZ Dollar Even as Building Consents Climb to Multi-Year Record
The New Zealand dollar fell today despite positive domestic macroeconomic data released during the current trading session. Stats NZ reported that the number of building consents rose 5.7% in February from a year ago on a seasonally adjusted basis. The number of consents for new townhouses, flats, and units reached a 23-year high. The indicator showed no change in the prior month. NZD/USD slipped from 0.7211 to 0.7191 as of 10:16 GMT today. EUR/NZD … “NZ Dollar Even as Building Consents Climb to Multi-Year Record”
AUD/NZD: Betting On 1.04-1.11 L/Term Range To Hold A Profitable Strategy? – NAB
The Australian dollar has been suffering against the greenback of late. But what about its trade against the New Zealand dollar? Here is their view, courtesy of eFXnews: NAB Research discusses AUD/NZD medium-term outlook and expects its 1.04-1.11 long-term range to hold in the medium-to-long term. “Since 2014, the cross has traded within a 1.04-1.11 range … “AUD/NZD: Betting On 1.04-1.11 L/Term Range To Hold A Profitable Strategy? – NAB”
EUR/USD Declines on Positive Revision of US Q4 GDP Data
The EUR/USD currency pair today declined to new lows after an upward revision of the US Q4 GDP data by the Bureau of Economic Analysis. The pair’s decline started in the late Asian session as the greenback gained ground against the euro despite the positive German GfK consumer confidence print for March. The EUR/USD currency pair lost over 80 points to decline from a high of 1.2421 in the Asian session to a low of 1.2335 in the early American session. The pair’s … “EUR/USD Declines on Positive Revision of US Q4 GDP Data”
NZ Dollar Mixed After Consumer Confidence Release
The New Zealand dollar was mixed today after the release of the consumer confidence report. The ANZ Business Confidence slipped from -19.0 in February to -20.0 in March. The report was not entirely negative, though, saying: Belying the headline measures somewhat, all key activity indicators improved further, albeit while remaining well off their cycle highs. Furthermore, the report added: Our composite growth indicator, which combines … “NZ Dollar Mixed After Consumer Confidence Release”
Euro Declines on Dovish ECB Comments amid US Dollar Rebound
The euro today declined significantly against the US dollar following dovish comments from a member of the European Central Bank‘s Governing Council. The euro’s decline was further accelerated by the greenback’s recovery following a significant decline in Monday’s trading session. The EUR/USD currency pair had lost over 80 points to decline from a high of 1.2477 to trade at a low of 1.2391 at the time of writing. The dovish comments from ECB Governing Council member Erkki … “Euro Declines on Dovish ECB Comments amid US Dollar Rebound”
Japanese Yen Falls as Market Sentiment Improves, Pares Losses Later
The Japanese yen fell against its rivals intraday as the market sentiment was improving. While the currency retained its losses versus the US dollar, the yen has managed to erase the drop against most other peers by now. As for Japan’s macroeconomic data, it was somewhat mixed today. The Bank of Japan core Consumer Price Index rose 0.8% in February from a year ago, the same as in January, while analysts had expected … “Japanese Yen Falls as Market Sentiment Improves, Pares Losses Later”
Pound Jumps on Interest Rate Hike Outlook
The Great Britain pound rallied today on the outlook for an interest rate hike from the Bank of England in May. Negative domestic macroeconomic data did not hurt the currency much. Traders were counting on a May hike as Britain’s economy was working on all cylinders, as was proven by last week’s employment report. Yet some analysts argued that with the hike priced in the currency needs another supporting factor to maintain its rally. … “Pound Jumps on Interest Rate Hike Outlook”