The Canadian dollar rallied against its most-traded peers today (with the exception of the rather strong euro) as Statistics Canada released a very positive macroeconomic report. The rally of crude oil also contributed the currency’s gains. According to the report from Statistics Canada, the Industrial Product Price Index increased 1.4% in November and the Raw Materials Price Index rose 5.5%. Both indices beat expectations, and both benefited from higher prices from … “Canadian Dollar Gets Support from Economic Data & Crude Oil”
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British Pound Gains Against US Dollar on Positive UK and US Data
The British pound today gained ground against the US dollar amid a raft of positive UK macro releases such as the Markit/CIPS UK Services PMI. Positive releases from the US docket in the early American session could not derail the pound’s rally against the US dollar. The GBP/USD currency pair gained over 55 points from a low of 1.3504 to hit a high of 1.3560 during the mid-European session. The release of the Markit/CIPS UK Services … “British Pound Gains Against US Dollar on Positive UK and US Data”
Accelerating Expansion of Japanese Manufacturing Fails to Boost Yen
The Japanese yen fell against its most-traded peers during the current trading session despite the solid manufacturing report, which showed that the expansion of the sector was the fastest in several years. The headline Nikkei Japan Manufacturing Purchasing Managers’ Index edged up from 53.6 in November to 54.0 in December according to the final estimate. While the reading was a bit lower than the preliminary reading and the consensus forecast of 54.2, it was still … “Accelerating Expansion of Japanese Manufacturing Fails to Boost Yen”
Australian Dollar Mixed Despite Support from Economic Data
The Australian dollar was mixed on Thursday despite very positive macroeconomic data, both from Australia and abroad. News from China was especially good as the services sector was expanding with the fastest pace in several years. The Caixin China General Services PMI jumped from 51.9 in November to 53.9 in December, while economists had expected it to stay about the same. It was the highest level since August 2014. … “Australian Dollar Mixed Despite Support from Economic Data”
EUR/USD Makes Subdued Recovery on Positive Eurozone PMIs
The EUR/USD currency pair today made a subdued recovery during the early European session after the release of positive Eurozone PMI data. The final December PMIs released by Markit Economics were the main trigger behind the currency pair’s soft rally. The EUR/USD currency pair today gained over 50 points from a daily low of 1.2003 hit during the Asian session to a high of 1.2056 reached during the early European session. The single … “EUR/USD Makes Subdued Recovery on Positive Eurozone PMIs”
EUR/USD: How high can it go and will the ECB react?
EUR/USD is holding onto 1.20 despite attempts for a recovery from the US dollar. What’s next for the common currency? At some point, we could see the ECB expressing its discontent. Here is their view, courtesy of eFXnews: EUR/USD: ‘Embrace The Strong EUR’ In 2018 Ahead Of Next Major Catalyst – ING ING FX Strategy … “EUR/USD: How high can it go and will the ECB react?”
Swiss Franc Falls vs. Dollar & Euro Following Manufacturing PMI
The Swiss franc fell against the US dollar and the euro today despite the better-than-expected manufacturing report released in Switzerland during the trading session. The manufacturing Purchasing Managers’ Index reported by Procure was at 65.2 in December, little changed from the November’s level of 65.1. That is instead of falling to 64.6 as analysts had predicted. Yet it did not help the Swissie, which fell against most of its major peers. USD/CHF rallied … “Swiss Franc Falls vs. Dollar & Euro Following Manufacturing PMI”
British Pound Falls as Construction Activity Declines in December
The British pound fell against most of its major peers on Wednesday following a fresh release that showed a drop in activity within the construction sector in the last month of 2017. The British currency further weakened against the US dollar as traders anticipated the minutes of the last Federal Open Market Committeeâs meeting. The Chartered Institute of Purchasing and Supply, which releases a monthly report on construction activity in the United Kingdom, said today that the sector saw … “British Pound Falls as Construction Activity Declines in December”
Euro Trades Lower Against US Dollar Ahead of FOMC Minutes
The euro today traded lower against the US dollar amid a broad-based greenback recovery for most of today’s session. The single currency was largely unaffected by the positive German employment data released by the Federal Statistical Office. The EUR/USD currency pair lost over 50 points from today’s high of 1.2065 to hit a low of 1.2010 during the mid-European session. Several factors contributed to the euro’s decline, chief among them being the positive sentiment … “Euro Trades Lower Against US Dollar Ahead of FOMC Minutes”
GBP/USD: Staying Structurally Bullish Targeting A Break Above 1.40 – BTMU
GBP/USD had a positive end to 2017, but that was mainly thanks to the weakness of the British pound. Can Sterling find its own footing and rise to higher ground? The team at BTMU is quite bullish. Here is their view, courtesy of eFXnews: BTMU FX Strategy Research discusses GBP outlook and maintains a structural bullish … “GBP/USD: Staying Structurally Bullish Targeting A Break Above 1.40 – BTMU”