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Day: February 24, 2016
February 242016
Dollar Fails to Rally due to Poor Economic Data from USA
The US dollar was rising against other currencies during the Wednesday’s trading session but was hurt by weak macroeconomic data released from the United States. As a result, the greenback traded flat against some most-traded currencies and fell versus others. The US currency still outperformed the Great Britain pound due to the Brexit fears. Unlike the previous trading session, when US economic reports were mixed, Wednesday’s data was […]
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February 242016
EUR/USD Avoids Another Session of Losses, For Now
EUR/USD was falling today, threatening to log yet another session of losses. But the currency pair has erased its losses, at least for now, after a string of poor economic reports came out from the United States. Seasonally adjusted flash Markit services PMI dropped sharply from 53.2 in January to 49.8 in February even though forecasters had promised a small increase. The move below the neutral 50.0 level indicates […]
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February 242016
Brexit Polls Weigh on the UK Pound
UK pound is lower today, thanks in large part to concerns over the fact that there is uncertainty over what will happen when citizens vote in a referendum on European Union membership. The date for the referendum on remaining in the European Union has been set for June 23, 2016. There are concerns that a Brexit could really happen. An opinion poll from ICM found that 42% of respondents wish to remain […]
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February 242016
Mexico’s Slowing Growth Makes Peso Less Attractive
The Mexican peso fell against the US dollar today as Mexico’s economy disappointed economists, growing slower than analysts had anticipated. Mexico’s economic growth slowed to 0.5% in the fourth quarter of the previous year down from 0.8% in the third quarter, below analysts’ expectations. One of the reasons for the stagnating growth was the decline of oil prices and weakness of the US manufacturing sector that was limiting demand for Mexican exports. The falling currency may […]
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