Day: April 28, 2016

April 28
2016

US GDP Misses Expectations, EUR/USD Extends Upward Move

Today’s economic data released from the United States was not particularly good. First quarter’s growth of the US economy was slower than economists had anticipated. The number of unemployment claims grew last week. As a result, EUR/USD was able to extend its upward move for the fourth straight session. US GDP rose 0.5% in Q1 2015 according to the advance (first) estimate. The reading failed to meet the consensus market expectations […]

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April 28
2016

Greenback Drops on GDP Data

Yesterday’s Federal Reserve announcement and the recent GDP data are putting a damper on the US dollar today. Greenback is heading lower as Forex traders mull the implications of a slowing economy. US dollar is lower today, thanks in part to concerns about a slowing economy. While the economy is still growing, it is doing so at a slower pace. Yesterday, Janet Yellen issued the Fed’s most recent policy announcement and indicated that policymakers […]

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April 28
2016

Japanese Yen Jumps as BOJ Stays the Course

Japanese yen is gaining ground against its major counterparts after the Bank of Japan surprised markets by keeping its benchmark rate the same, and staying the course on the current stimulus package. Many analysts and Forex traders had expected the Bank of Japan to loosen monetary policy and increase stimulus, considering the challenges that have been plaguing the Japanese economy. However, when BOJ Governor Haruhiko Kuroda announced the central bank’s decision, […]

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