The EUR/USD curreny pair rallied higher today after the release of the Eurozone core CPI data by Eurostat, which met market expectations. The currency pair hit a new six-month high during the American session as the US dollar weakened against the euro. The currency pair rallied to a new high of 1.1155 and was on an upward trend at the time of writing. The pair is on track to close the day’s session on a high, which is an extension of a rally that started … “Euro Rallies Higher Against US Dollar on Positive Eurozone CPI Data”
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Canadian Dollar Ignores Positive Fundamentals amid Risk Aversion
The Canadian dollar fell today even though macroeconomic data released in Canada was good and crude oil continued to rally. The likely reasons for the underwhelming performance was risk aversion that took a firm grip on markets. Canada’s manufacturing sales were up 1.0% in March, reaching a record. The report said that the rise was “reflecting higher sales in the transportation equipment and food industries.” The increase followed the drop by 0.6% in February. Previously, … “Canadian Dollar Ignores Positive Fundamentals amid Risk Aversion”
Japanese Yen Advances Against US Dollar on Lower Appetite for Risk
The Japanese yen advanced against the US dollar on Wednesday after traders became anxious about recent political developments in the United States. The Japanese currency, which is viewed as a safe haven asset, ended two days of little movement as controversies surrounding US President Donald Trump were stoked by recent reports on his ties with Russia. For the past 8 days, the Trump administration has been busy putting out the political … “Japanese Yen Advances Against US Dollar on Lower Appetite for Risk”
Politics Continue to Damage Appeal of US Dollar
The US dollar continued to fall today as controversies surrounding US President Donald Trump made the currency unappealing to investors, making it erase all gains caused by optimism about Trump’s presidency and his planned fiscal reforms back when he was elected. The greenback was especially vulnerable against safe haven currencies like the Swiss franc and the Japanese yen. Markets continued to be riled by accusations of Trump leaking sensitive … “Politics Continue to Damage Appeal of US Dollar”
Sterling Reacts Positively to Employment Data
The Great Britain pound reacted positively to UK employment data released today, which showed accelerating wage inflation and a surprise drop of the unemployment rate. It allowed the currency to halt the four-day losing streak versus the euro and the Swiss franc. According to the report from the Office for National Statistics, average weekly earnings rose 2.4% in the three-month period through March from a year ago after rising 2.3% in the previous reporting period. The unemployment … “Sterling Reacts Positively to Employment Data”
Aussie Drops for Fourth Day vs. Euro & Franc
The Australian dollar fell today. It was the fourth drop in a row against such currencies as the euro and the Swiss franc, but the first decline in six sessions versus the US dollar. One of the possible reasons for drop was unimpressive economic data released in Australia today. The Westpac-Melbourne Institute Consumer Sentiment Index dropped 1.1% in May after falling 0.7% in April. The Wage Price Index fared better, rising 0.5% in the March quarter … “Aussie Drops for Fourth Day vs. Euro & Franc”
EUR/USD at 1.11 – can it continue higher?
The weakness of the US dollar helps EUR/USD reach higher and higher levels. Can it further extend the gains? Here are three opinions: Here is their view, courtesy of eFXnews: EUR/USD: Make Or Break Into Pivotal Resistance At 1.1097 – JP Morgan JP Morgan FX Technical Strategy Research notes that EUR/USD positive bias remains intact after … “EUR/USD at 1.11 – can it continue higher?”
Japanese Yen Rallies Against US Dollar on Weak US Housing Starts Data
The USD/JPY currency pair rallied higher during the European session, reversing the gains made by the Japanese yen after a speech by Bank of Japan Governor, Haruhiko Kuroda. However, the pair erased most of its gains during the American session after the release of weak US housing starts data. The currency pair rallied higher during the European session to hit a high of 113.72 at 11:00 GMT. However, the pair reversed its gains and sunk to new … “Japanese Yen Rallies Against US Dollar on Weak US Housing Starts Data”
Trump Worries Hit Dollar Yet Again
The US dollar was trading broadly lower today after US President Donald Trump appeared in the center of yet another scandal. Mixed macroeconomic indicators were of little help to the besieged currency. Some US officials claimed that Trump leaked sensitive intelligence data to Russia. The President defended his actions, saying he has an “absolute right” to share information that may help to fight terrorism. Yet coupled with … “Trump Worries Hit Dollar Yet Again”
Euro Surges on Economic Data & Merkel’s Victory
The euro surged today against its major peers after the release of relatively positive macroeconomic data from the eurozone. Subsiding fears about Europe’s political issues were also helping the currency. Eurozone gross domestic product rose 0.5% in the first quarter of this year, the same as in the previous three months and withing expectations. The ZEW Indicator of Economic Sentiment for Germany went up from 19.5 to 20.6 in May. While it was … “Euro Surges on Economic Data & Merkel’s Victory”