The US dollar erased earlier losses against the euro on Wednesday, even as lower than expected data for consumer spending on core retail items weighed on the US currency. The greenback received additional pressure from a big drop in manufacturing activity in New York. The US Census Bureau released a report earlier today on retail and food services sales, which showed a 0.2% increase to $486.6 billion in October on a seasonally adjusted basis. The increase followed … “US Dollar Erases Earlier Losses Against Euro Despite Weak Consumer Spending”
Author: admin_mm
USD: Stalled; Most Of Good News On US Tax Cuts Look Already Incorporated – Barclays
The US dollar is on the back foot due to some safe-haven flows. But what about the main driver of the greenback? The team at Barclays examines the tax cuts issues. Here is their view, courtesy of eFXnews: Barclays Capital FX Strategy Research discusses the USD near-term outlook, noticing that its momentum has stalled after … “USD: Stalled; Most Of Good News On US Tax Cuts Look Already Incorporated – Barclays”
Japanese Yen Gains Even as Economic Growth Slows
The Japanese yen gained today even as the country’s economic growth missed expectations. Some analysts argued, though, that the data was not entirely bad, and this may explain the currency’s gains. Japan’s gross domestic product rose 0.3% in the third quarter of this year. That was a slower growth than the predicted 0.4% and the previous quarter’s 0.6%. Yet experts pointed out that was the seventh consecutive quarterly growth … “Japanese Yen Gains Even as Economic Growth Slows”
Australian Dollar Falls as Wage Growth Stagnates
The Australian dollar fell today against its major rivals, though it has trimmed losses against some of them by now. The main reason was underwhelming wage inflation, though the falling consumer confidence was not helping the currency either. The Wage Price Index rose 0.5% in the September quarter from the previous three months. While it was the same rate of growth as in the June quarter, the increase was below the forecast … “Australian Dollar Falls as Wage Growth Stagnates”
British Pound Declines Against US Dollar on UK Labour Report
The British pound today briefly rallied higher against the US dollar after the release of the UK employment data by the Office for National Statistics, which beat expectations. However, the rally was short-lived as the GBP/USD currency pair retraced all its gains within the same hour as markets reviewed the labor report. The GBP/USD rallied to hit a high of 1.3213 after the release of the UK labor report, but immediately declined by over 75 points to trade … “British Pound Declines Against US Dollar on UK Labour Report”
US Dollar Declines Against Major Peers Despite Upbeat Inflation Data
The US dollar fell against a basket of its major peers on Tuesday, despite an economic report that showed stronger inflation than expected last month. The greenback further weakened against the euro as the German economy displayed solid growth in the third quarter of 2017, which supported the shared currency. The US Bureau of Labor Statistics released a report earlier today that revealed higher prices at factories than what analysts forecasted. The producer … “US Dollar Declines Against Major Peers Despite Upbeat Inflation Data”
Yen Flat-to-Lower After Kuroda’s Speech
The Japanese yen was stable against such currencies as the US dollar and the Great Britain pound today, but fell against such European majors like the euro and the Swiss franc. Bank of Japan Governor Haruhiko Kuroda was speaking at the University of Zurich yesterday. He defended the extremely accommodative monetary policy applied by the BoJ, saying that it helped to move closer to the bank’s target of 2% inflation. Therefore, he signaled that … “Yen Flat-to-Lower After Kuroda’s Speech”
Australian Dollar Lifted by Domestic Data
The Australian dollar stabilized after yesterday’s sell-off, edging a little higher versus the US dollar and the Japanese yen, though continuing to fall against the euro for the fourth straight day. It looks like traders paid more attention to the positive domestic data than to the reports from China, Australia’s biggest trading partner. The Monthly Business Survey performed by National Australia Bank showed that the business conditions index improved materially from … “Australian Dollar Lifted by Domestic Data”
GBP/USD Tumbles to New Lows on Soft UK CPI Data
The GBP/USD currency pair today tumbled to new lows after the release of soft UK CPI data by the Office for National Statistics early in the European session. Today’s decline extends the pound’s drop for the second consecutive session this weak after yesterday’s massive drop occasioned by news of a leadership crisis in the UK. The GBP/USD currency pair lost over 50 points from its daily highs to hit a low of 1.3073 at the height of its decline. … “GBP/USD Tumbles to New Lows on Soft UK CPI Data”
Saudi Arabia rattles oil markets head of OPEC meetings
The international crude oil prices continued to post solid gains over the past two months. Price of WTI crude oil reached $57.87 a barrel after crude oil prices broke past the technical resistance barrier of 57.25 – 51.80 just last month. The gains in oil prices came amid a mix of both fundamental and political … “Saudi Arabia rattles oil markets head of OPEC meetings”