The euro today declined against the US dollar after the release of the European Central Bank‘s minutes of their monetary policy meeting, which outlined a dovish stance. The US dollar was stronger against the euro due to the high buying interest in the greenback as tracked by the US Dollar Index, which hit new highs in today’s session. The EUR/USD currency pair lost over 100 points at the height of its decline as investors reacted to the dovish ECB … “Euro Declines Against US Dollar on Dovish ECB Minutes”
Author: admin_mm
FOMC minutes – a rate hike still coming in December?
The FOMC meeting minutes hurt the US dollar, which is back to the back foot. But what does it mean for the next moves of the Fed? Here are two views: Here is their view, courtesy of eFXnews: USD: FOMC Minutes: Still Confident Of One More Fed Hike Before Year-End – SEB SEB Research comments on … “FOMC minutes – a rate hike still coming in December?”
British Pound Declines Against US Dollar Despite Positive Jobs Data
The British pound today rallied higher briefly against the US dollar after the release of positive UK labour market report, but later declined retracing most of its gains. The weak US housing data barely had an impact on the GBP/USD currency pair, which was weighed down by the Bank of England‘s dovish stand. The GBP/USD currency pair declined by over 60 points from the height of its brief rally after the positive … “British Pound Declines Against US Dollar Despite Positive Jobs Data”
On that CAD/Crude correlation – update
It has been a quiet period for Crude Oil. I have just spotted a possible reversal pattern at the major support level above 47.00. It seems like there is a small rejection candle. The candle formed just above the support level, which gives further reassurance. One potential scenario that I will be looking at is … “On that CAD/Crude correlation – update”
US Dollar Rallies Higher Against Peers on Positive Advance Retail Sales
The US dollar today rallied higher against its main peers including the British pound and the Japanese yen after the release of positive US advance retail sales data. The greenback’s rally was also supported by the positive New York Empire State Manufacturing Index, which also exceeded expectations. The US dollar’s rally, as tracked by the US Dollar Index was impressive as the index hit a session high of 94.10, which was last … “US Dollar Rallies Higher Against Peers on Positive Advance Retail Sales”
British Pound Declines as UK Inflation Data Misses Estimates
The British pound declined against most of its major peers on Tuesday following the release of two reports that revealed that inflation in the United Kingdom remained dormant in July. The British currency weakened further against the greenback as strong US retail sales numbers surprised investors. The official index for tracking changes in consumer prices of goods and services in the United Kingdom dropped 0.1% between June and July, according to todayâs release. The drop disappointed … “British Pound Declines as UK Inflation Data Misses Estimates”
EUR/USD Hits New Daily Lows Despite Strong German GDP Data
The EUR/USD currency pair today hit new session lows despite the release of strong German GDP data by the Federal Statistical Office. The currency pair was under intense selling pressure for the second consecutive session given the strong US dollar. The currency pair lost about 70 points at the height of it decline after the release of the German GDP data, but had since retraced come of its losses. The EUR/USD currency pair … “EUR/USD Hits New Daily Lows Despite Strong German GDP Data”
USD: US July CPI Missed A Bit; Overall USD Negative
US data is back to hurting the US dollar. For EUR/USD, the correction seems to be over. What’s next? Here is their view, courtesy of eFXnews: CIBC Research comments on today’s US July CPI data Inflation data noticing that it missed a bit to the low side of consensus, with 0.1% gains in both headline and core … “USD: US July CPI Missed A Bit; Overall USD Negative”
US Dollar Weakens Against Euro as Inflation Data Misses Estimates
The US dollar declined against the euro on Friday to touch its weakest level in 3 days, as fresh data for inflation rate in the United States disappointed investors. Weak economic releases in recent weeks lowered expectations that the Federal Reserve might raise interest rates before the end of the year, which weighed on the greenback. The US Bureau of Labor Statistics said that the consumer price index increased 0.1% between June and July on a seasonally … “US Dollar Weakens Against Euro as Inflation Data Misses Estimates”
USD/CAD Tests New Lows After Release of Weak US CPI Data
The USD/CAD currency pair today tested new lows after the release of weak CPI data by the US Bureau of Labor Statistics. The weak crude oil prices in the global market could not allow the currency pair to drop much lower as the Canadian dollar is closely linked to global oil prices. The USD/CAD currency paid declined by about 100 points after the release of the US CPI data, but had since retraced some … “USD/CAD Tests New Lows After Release of Weak US CPI Data”