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Day: May 17, 2016
May 172016
Positive US Data Fails to Boost US Dollar
Most of the US macroeconomic indicators released today were good but they failed to bolster the US dollar. As a result, EUR/USD was trading sideways. Housing starts and building permits rose in April. Housing starts were at the seasonally adjusted annual rate of 1.17 million, up from 1.10 million in March and compared to the median forecast of 1.12 million. Building permits were at the seasonally adjusted rate of 1.12 million, in line with expectations […]
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May 172016
Weak Inflation Data Doesn’t Stop Pound
UK pound is heading higher today, in spite of weaker than expected inflation data. Sterling is higher against most of its counterparts. Some of the gains are the result of the popularity of a Brexit from the European Union falling a little bit. However, there are enough weaknesses right now that the sterling’s gains might be short-lived. Sterling is heading higher as the faction favoring remaining a part of the European Union pulls […]
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May 172016
Greenback Mostly Higher on Possibility of Fed Action
US dollar is mostly higher today, gaining ground against many of its counterparts as better than expected data prompts hopes of action from the Federal Reserve. Greenback is down against the pound, but gaining against other counterparts. The latest readings for advanced retail sales, as well as the University of Michigan Confidence Index, are helping the US dollar today. Expectations that the Federal Reserve may act to raise interest […]
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