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”
Author: admin_mm
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”
ECB Preview: A buy opportunity on Draghi trying to down the euro?
The European Central Bank convenes for its first decision in 2018. The new year already saw the halving of the bond-buying volume to 30 billion euros from 60 billion beforehand. The program is set to run through September, and the big question is: will it end in September? Here is a preview of the big event … “ECB Preview: A buy opportunity on Draghi trying to down the euro?”
USD Slumps as Mnuchin Talks About Benefits of Weaker Currency
The US dollar slumped against all other major currencies today following the remarks from US Treasury Secretary Steven Mnuchin, who talked about benefits of weaker currency. Mnuchin said in Davos today: Obviously a weaker dollar is good for us as it relates to trade and opportunities. Many analysts pointed out that such comments oppose the policy of strong currency that the United States had for years, even … “USD Slumps as Mnuchin Talks About Benefits of Weaker Currency”
GBP/USD Rallies to New Highs on Positive UK Jobs Report
The GBP/USD currency pair today rallied to new highs above the 1.4100 level last witnessed before the historic Brexit vote. The pound rallied higher against the greenback buoyed by the positive UK labour market report released early in the European session. The GBP/USD currency pair gained over 180 points to rally from a low of 1.4001 to a high of 1.4190 at the time of writing. The British pound rallied higher in the early European session boosted by the positive … “GBP/USD Rallies to New Highs on Positive UK Jobs Report”
South African Rand Reaches 12 per Dollar for First Time Since 2015
Today, the South African rand reached the 12 per dollar level for the first time since May 2015. That happened thanks to the growing optimism about the future of the country’s economy as well as due to the general risk-positive market sentiment. Investors and economists have started to look more favorably on South Africa after Cyril Ramaphosa won the election for the leadership of the ruling African National Congress in December, hoping that he will win presidency … “South African Rand Reaches 12 per Dollar for First Time Since 2015”
Euro Rallies to 3-Year Highs Against US Dollar on Mixed Eurozone PMIs
The euro today rallied to 3-year highs against the US dollar after the release of upbeat flash PMIs from different Eurozone countries by Markit Economics. The manufacturing activity across the Eurozone slowed down in January as measured by the PMI, while the composite and services PMIs registered new all-time highs. The EUR/USD currency pair today rallied by over 60 points from a low of 1.2291 to hit a high of 1.2356 in the early European session. The release of the upbeat … “Euro Rallies to 3-Year Highs Against US Dollar on Mixed Eurozone PMIs”
Japanese Yen Gains as Manufacturing Accelerates
The Japanese yen managed to rise against a range of its most-traded peers, including the US dollar and the euro, despite mixed macroeconomic data released in Japan over the trading session. Japan’s trade balance surplus shrank from ¥0.29 trillion in November to ¥0.09 trillion in December. Economists had promised a much smaller decrease to ¥0.27 trillion. Meanwhile, the Nikkei Flash Japan Manufacturing Purchasing Managers’ Index showed an increase from 54.0 in December … “Japanese Yen Gains as Manufacturing Accelerates”