Day: September 3, 2015

September 3
2015

Services Sector Data Weighs on UK Pound

The latest data from the services sector is weighing on the UK pound, sending it lower against the dollar and the yen. While the pound is gaining against the euro, it is struggling in other areas as concerns about economic cooling impact performance. The latest data from Markit/CIPS shows that the Purchasing Managers’ Index (PMI) for August dropped to 55.6 from the July reading of 57.4. While it is true that anything […]

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September 3
2015

Dollar Regains Upper Hand on Expectations of Better News

It’s been a choppy few days for the world markets, but things seem to be smoothing out for now. The US dollar, after a few down days, is once again regaining the upper hand. Forex traders are focusing on expectations of better news out of the United States. Greenback is gaining against its European counterparts and the dollar index is higher today as Forex traders improve their expectations about what’s […]

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September 3
2015

Australian Dollar Continues to Struggle

The Australian dollar continued to struggle today, potentially extending the long-term downtrend. Mixed domestic data did little to help the Aussie. Seasonally adjusted retail sales demonstrated an unexpected drop in July, adding to the downside pressure on the Australian currency. As for the positive part of today’s data, the trade balance deficit shrank unexpectedly last month (also on a seasonally adjusted basis). Yesterday, the Aussie attempted to rally and was successful, ending the session with gains. AUD/USD […]

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September 3
2015

Mario Draghi Sends EUR/USD into Sharp Decline

EUR/USD dropped sharply today after comments of Mario Draghi, President of the European Central Bank. (Event A on the chart.) He lowered economic forecasts, particularly the important inflation one, and suggested that additional quantitative easing is possible. Meanwhile, economic data released from the United States for the most part was better than expected, adding further pressure on the currency pair. Trade balance deficit shrank to $41.9 billion in July down […]

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