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Day: May 2, 2016
May 22016
Rally of EUR/USD Looks Unstoppable
EUR/USD was rising every single session of the previous trading week, and it looks like the currency pair is not going to stop the rally this week as well. US economic data added fuel to the upward movement as all indicators released today were below expectations. Markit manufacturing PMI fell from 51.5 to 50.8 in April according to the final estimate, which was unchanged from the flash one. That is […]
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May 22016
Euro Hits the $1.15 Level Against the Dollar
Euro continues to show strength, even though many analysts thought it would be much lower by now. Much of the current strength is likely coming from the fact that the United States probably won’t raise interest rates in the near future. For the first time since August 2015, the euro hit the $1.15 level against the US dollar. Right now, the 19-nation currency has slipped back below that level, […]
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May 22016
Australian Dollar Gains vs. Major Peers
The Australian dollar gained against its most liquid peers after mixed economic data released from Australia on Monday. Now, traders wait for manufacturing data from China and the policy decision of the Reserve Bank of Australia due to release tomorrow. The Australian Industry Group Australian Performance of Manufacturing Index plunged by 4.9 points to 53.4 points in April, remaining above the neutral 50.0 level. The Melbourne Institute Monthly Inflation Gauge increased […]
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May 22016
Yen Backs Off from Multi-Year Highs
The Japanese yen backed off today following the last week’s strong rally but not before touching the highest level in a year and a half against the US dollar and the strongest rate in three years versus the euro. The yen rallied strongly in the second half of the last week after the Bank of Japan had stood pat, refraining from adding monetary stimulus. It is not a surprise to see a correction after such a strong jump. […]
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