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Day: May 11, 2016
May 112016
EUR/USD Bounces for First Time in Six Sessions
EUR/USD rose during Wednesday’s quiet trade. With no major news, market analysts argued for the reasons for the rally. Some were saying that it was a sign that traders do not expect an interest rate hike from the Federal Reserve, while others speculated that it was just a result of profit-taking after the six-day streak of gains for the dollar. US crude oil inventories dropped by 3.4 million barrels […]
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May 112016
Greenback Pulls Back on Profit Taking, Fed
US dollar is giving back some of its recent gains today, heading lower as Forex traders step up their profit taking, and as speculation that the Federal Reserve will stay away from further rate hikes the rest of the year increases. Greenback had seen some gains earlier this week, but now it is lower against its major counterparts. US dollar has largely given […]
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May 112016
UK Production Misses Expectations, Sterling Suffers
The Great Britain pound was soft today as Britain’s manufacturing and industrial production failed to meet analysts’ expectations. While production rose in March after falling in February, its growth trailed forecasts. Manufacturing rose by just 0.1% instead of the predicted 0.4%. Industrial production grew 0.3% compared to the consensus forecast of 0.7%. GBP/USD was little changed at 1.4434 as of 13:31 GMT today after falling from the opening of 1.4440 to 1.4394 intraday. […]
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May 112016
Australian Dollar Mixed After Economic Data
The Australian dollar gained on its US counterpart but fell against the Japanese yen after the release of mixed economic data from Australia. The Westpac Melbourne Institute Index of Consumer Sentiment jumped by 8.5% in May after falling 4% in the previous month. The number of home loans fell by 0.9% in March from February, but the drop was smaller than analysts had forecast (1.4%). The Australian dollar was moving erratically today, […]
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