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Day: May 13, 2016
May 132016
EUR/USD Dips as US Retail Sales Rise Far Above Expectations
EUR/USD dived today after the release of US economic data. While not all the reports were good, those that were turned out to be much better than expectations. Most notably, retail sales showed the biggest growth in two years. PPI rose 0.2% in April (seasonally adjusted) after falling 0.1% in March. The increase predicted by analysts was a bit bigger — 0.3%. (Event A on the chart.) Retail sales adjusted […]
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May 132016
US Dollar Gains After Retail Sales Data
US dollar is heading higher on the latest retail sales data numbers. With data beating expectations, the greenback is gaining against its major counterparts. In April, retail sales increased by 1.3 per cent. This represents the biggest jump in a year, and beat expectations of a 1.0 per cent gain. The news is helping the US stock futures pare some of their earlier losses, as well as boosting the performance of the US dollar […]
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May 132016
Australian Dollar Weaker amid Interest Rate Cut Speculations
The Australian dollar was soft today amid speculations that the Reserve Bank of Australia is going to perform additional interest rate cuts in the near future. The RBA has surprised markets by a sudden interest rate cut last week, and some analysts say that it may do so again. Concerns about cooling economic growth in China can be one of the reasons for the central bank to ease its monetary policy […]
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May 132016
Euro Under Pressure After Release of Eurozone Data
The euro fell today even after German economic growth exceeded analysts’ estimate. The problem was the Germany’s deflation was above expectations as well, and on top of that eurozone’s economic growth received a downward revision. Germany’s gross domestic product rose 0.7% in the first quarter of 2016, a tad faster than the consensus forecast (0.6%). But Germany’s Consumer Price Index fell 0.4% in April from March whereas experts had […]
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