Day: August 21, 2014

August 21
2014

UK Retail Sales Make Life Harder for Sterling Bulls

The Great Britain pound fell a bit today after retail sales missed forecasts, reinvigorating concerns about Britain’s economic growth. The losses were limited though, and the sterling managed to gain ground as the monetary policy outlook supported the currency. UK retail sales were up just 0.1 percent in July, while analysts promised 0.4 percent growth. The data made the sterling extend yesterday’s drop against the dollar. While Britain’s […]

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August 21
2014

Aussie Recovers After Big Drop

The Australian dollar dipped today after manufacturing data from China disappointed traders. Yet for whatever reason the currency was able to erase the big drop and trades near the opening level right now. The HSBC Flash China Manufacturing Purchasing Managers’ Index dropped from 51.7 in July to 50.3 in August — the lowest level in three months. While the index remained in an expansionary territory, it is dangerously close to the neutral 50.0 level […]

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August 21
2014

Dollar Halts Rally Despite Supportive Data

Today’s economic reports from the United States were good across the board, making it surprising that the dollar was unable to maintain its rally against the euro. Perhaps traders thought that the rally was excessive or perhaps they decided to take profit ahead of the Janet Yellen’s speech in Jackson Hole, Wyoming, tomorrow. Seasonally adjusted initial jobless claims were at 298k last week, below the predicted 302k and the previous […]

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