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Day: July 29, 2014
July 292014
Positive Economic Data Does Not Support Sterling
Macroeconomic data from Great Britain was positive today, but this did not help the pound. The currency was flat against some of its major counterparts, including the euro and the Japanese yen, and dropped versus the US dollar. The number of mortgage approvals rose from 62,007 in May to 67,196 in June. It was higher than the median forecast of 63,000. The data suggests that the housing market continues to expand even though […]
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July 292014
Hawkish Fed Sends Dollar Higher Against Counterparts
US dollar is higher today, at one point reaching a new eight-month high against the euro. Thanks to the perception that the Federal Reserve is becoming hawkish, the greenback is gaining ground as Forex traders expect tighter monetary policy. The Federal Open Market Committee is in the midst of a two-day meeting, and many expect that tomorrow Janet Yellen will announce another $10 billion cut to its bond buying program. […]
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July 292014
EUR/USD Drops on Consumer Confidence & Fed Outlook
US consumer confidence improved this month, and this allowed the dollar to gain on the euro and ignore other recent poor data. The Federal Reserve started its two-day policy meeting today and will announce its decision tomorrow. Market participants expect the Fed to continue stimulus reduction and are also pricing in an interest rate hike in a relatively near future, meaning that the monetary policy outlook is also supporting for the US currency. […]
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