The British pound today declined against the US dollar following the release of weak UK retail sales data for January. The pound further weakened against the greenback after the release of better than expected US housing data in the early American session. The GBP/USD currency pair today declined by over 130 points from a high of 1.4145 to trade at a low of 1.4008 at the time of writing. The pound rallied higher during the Asian session, but entered … “Pound Declines on Weak UK Retail Sales and US Housing Data”
Author: admin_mm
Australian Dollar Gains Despite RBA Governor Keeping Neutral Stance
The Australian dollar gained on its most-traded peers today even after Philip Lowe, Reserve Bank of Australia Governor, signaled that he sees no reason for hiking interest rates in the near future. Lowe predicted that the next move in interest rates will likely be hike, not cut: It is more likely that the next move in interest rates here will be up rather than … “Australian Dollar Gains Despite RBA Governor Keeping Neutral Stance”
NZ Dollar Halts Rally After Manufacturing Data, Resumes Rise Later
The New Zealand dollar started a rally by the end of the previous trading session and extended it today. While the kiwi had halted the advance after the release of the manufacturing data, the currency has resumed its upward movement afterwards. The seasonally adjusted BusinessNZ Performance of Manufacturing Index rose from 51.1 in December to 55.6 in January. While the report looked good at first glance, BusinessNZ’s executive director for manufacturing Catherine Beard said that it … “NZ Dollar Halts Rally After Manufacturing Data, Resumes Rise Later”
EUR/USD Trades Sideways on ECB Speeches and Mixed US Data
The EUR/USD currency pair today traded sideways by rallying higher in the late Asian session and early European session before heading lower. The currency pair declined despite speeches from European Central Bank members, but later rallied higher on mixed US data. The EUR/USD currency pair rallied to a high of 1.2510 in the early European session before declining to a low of 1.2461 in the mid-European session. The currency pair rallied higher in the late Asian … “EUR/USD Trades Sideways on ECB Speeches and Mixed US Data”
US Dollar Rallies Briefly Against Peers on Upbeat US Inflation Data
The US dollar today rallied briefly against a basket of its peers as tracked by the US Dollar Index, after the release of strong US inflation data. The greenback’s rally was negatively affected by the weak retail sales data for December released early in the American session. The US Dollar Index, which measures the greenback’s strength against its peers, hit a high of 90.12 shortly after the release of US inflation report, but later retraced … “US Dollar Rallies Briefly Against Peers on Upbeat US Inflation Data”
Euro Declines Against US Dollar on Mixed Eurozone GDP Data
The euro today declined against the US dollar despite the release of mostly positive GDP data from across the euro area. The single currency had rallied higher during the Asian session, but retraced all its gains starting in the late Asian session up to the early European session. The EUR/USD currency pair lost over 50 points to decline from a high of 1.2392 in the Asian session to a low of 1.2340 at the time of writing. The currency … “Euro Declines Against US Dollar on Mixed Eurozone GDP Data”
Japanese Yen Retains Strength Despite Slowing Economic Growth
The Japanese yen retained its strength against the vast majority of its most-traded peers even though macroeconomic data released over the Wednesday’s session in Japan was not that good. Japan’s gross domestic product rose 0.1% in the December quarter from the previous three months, missing expectations of a 0.2% growth and slowing from the previous quarter’s revised growth of 0.6%. The GDP Deflator was unchanged, year-over-year, in line with expectations … “Japanese Yen Retains Strength Despite Slowing Economic Growth”
AUD/USD Loses Gains After Intraday Rally
The Australian dollar gained on its US counterpart intraday but has lost most of its gains by now. Against other currencies, the Aussie was mixed today. The Westpac Melbourne Institute Index of Consumer Sentiment fell by 2.3% in February from January. The index was up by 1.8% in the preceding month. The report explained the worsening sentiment by the fact that the survey was taken during the previous week, marked by significant volatility on global share … “AUD/USD Loses Gains After Intraday Rally”
Dollar Soft Ahead of Inflation Data Released on Wednesday
The US dollar retreated versus its most-traded peers today as market participants were waiting for Wednesday’s important economic reports from the United States, including inflation data. Information about growth of consumer prices can affect the pace of monetary tightening by the Federal Reserve. Analysts predicted that tomorrow’s data will show an increase of the Consumer Price Index by 0.3% in January, up from 0.1% in December. Yet the core CPI is … “Dollar Soft Ahead of Inflation Data Released on Wednesday”
Japanese Yen Logs Sharp Gains on Tuesday
The Japanese yen logged sharp gains against basically all of most-traded currencies during the Tuesday’s trading session. Analysts speculated that Bank of Japan Governor Haruhiko Kuroda will be appointed for a second term, though Japanese Prime Minister Shinzo Abe did not confirm that yet. While Kuroda ushered an era of extremely loose monetary policy, markets were counting on monetary tightening in the relatively near future even … “Japanese Yen Logs Sharp Gains on Tuesday”