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Day: February 26, 2016
February 262016
EUR/USD Ends Consolidation Period with Move Down
Today, EUR/USD has ended its short consolidation period with a sharp move down. The currency pair was hurt by weak inflation data released from countries of the eurozone and fell apart completely after the release of US economic indicators, basically all of which were very good. Of a particular note was the upward revision of gross domestic product. US GDP grew 1.0% in Q4 2015 after expanding 2.0% in Q3 […]
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February 262016
Greenback Heads Higher After GDP Reading
US dollar is gaining ground against its major counterparts today after the release of the latest GDP data. An improving US economy is boosting the possibility of a rate hike later this year. After the Federal Reserve raised rates slightly in December, many analysts thought that there wouldn’t be another rate hike for quite some time. Unrest and other problems led to concerns about the economy. However, data […]
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February 262016
Pound Fails to Rally, Trades Close to Opening
The Great Britain pound has attempted to rally during the current trading session but failed and is trading near the opening level as of now. The sterling was attempting to extend yesterday’s rally but was unsuccessful. Fears of Britain leaving the European Union continue to haunt the market, undermining any attempts of Britain’s currency to rally, and the sudden drop of the consumer confidence was not helping the matters. It looks like the pound is going […]
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February 262016
Inflation Data Doesn’t Prevent Yen from Rising
Inflation data released from Japan during the Friday’s trading session was mixed, but this did not prevent the Japanese yen from rising against the US dollar and the euro. Japan’s core Consumer Price Index was unchanged in January while experts had predicted a drop by 0.2%. Tokyo core CPI, on the other hand, edged down 0.1% while analysts had promised it to stay unchanged. The mixed data […]
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