Day: February 17, 2016

February 17
2016

US Economic Data Surprises to the Upside

US dollar is heading higher today, thanks in large part to the fact that a number of US data economic prints surprised to the upside. With the US economy continuing to show signs of recovery, many hope to see the Federal Reserve take more steps to tighten policy, which could mean more strength. Even though housing starts missed expectations this month, there are plenty of other economic data releases […]

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February 17
2016

Australian Dollar Finds Support in Rising Oil Prices

The improvement of the risk sentiment allowed the Australian dollar to bounce even though domestic macroeconomic fundamentals were not particularly supportive to the currency. The rally of crude oil prices translated into good performance of commodity-geared currencies, including the Aussie. News from Australia itself was not good the leading index continued to weaken. Westpac’s Chief Economist Bill Evans commented: The Index has now been growing below trend for the last nine […]

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February 17
2016

Japanese Yen Fails to Rally as Crude Oil Prices Bounce

The Japanese yen attempted to rally today on the back of the weaker Chinese yuan and falling oil prices, which hurt risk appetite. Yet Japan’s currency retreated after crude bounced, easing investors’ worries. The People’s Bank of China set the reference rate for the yuan lower today, reigniting fears about hard landing of the world’s second biggest economy. Meanwhile, disappointment about the deal between Saudi Arabia and Russia hurt oil prices, […]

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