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Day: May 26, 2016
May 262016
Euro Rises During Thursday’s Trading, Still Heads to Weekly Loss
The euro rose today, extending its rally against the US dollar for the second day. Nevertheless, the currency was heading to a weekly loss against most of its major peers. There was just one report released from the eurozone during the Thursday’s session — Italy’s retail sales. And while the indicator was disappointing (the sales dropped 0.6% in March from February while experts had predicted an increase), it was not considered […]
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May 262016
Japanese Yen Feels Strong
The Japanese yen rallied today as traders were cautious due to the prospects for monetary tightening from the Federal Reserve but not willing to buy the US dollar. Fed members continued to talk about the possibility of an interest rate hike soon, perhaps even in June. Yet this did not make traders buy the dollar. It looks like they were purchasing the yen instead. The danger remains for the yen that the Bank of Japan […]
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May 262016
Greenback Trades Lower as Dollar Index Falls
There’s a decent amount of downward pressure on the greenback right now, and the dollar index is falling. Greenback is trading lower against its major counterparts and is mostly lower against other currencies today. With oil prices and gold prices heading higher, there is downward pressure on the greenback today. US dollar is down against the euro and yen, and is losing ground to commodity currencies. Profit taking has […]
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May 262016
Australian Dollar Bounces After Falling Intraday
The Australian dollar was down intraday but has bounced as of now even though Australia’s macroeconomic data was rather detrimental to the currency. Australia’s private capital expenditure dropped 5.2% in the March quarter of 2016 versus the forecast decline by 3.2%. The Australian currency demonstrated a surprising reaction to the news, starting a rally. The possible reason for the admirable performance was the rise of crude oil prices that have reached the $50 level. AUD/USD advanced […]
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May 262016
Canadian Dollar Gains as Oil Tops $50 a Barrel
Canadian dollar is higher against its major counterparts today as oil prices gain ground. Also helping the loonie is the upbeat economic forecast from the Bank of Canada. There seems to be a lot of loonie-positive news, and that is fueling demand in Forex trading. Oil prices have finally moved above the psychologically important $50 a barrel mark. Prices have been flirting with that level for weeks, and now […]
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May 262016
Pound Falls vs. Rivals, Remains Steady vs. Dollar
The Great Britain pound fell against some of its major rivals, including the euro, but was steady against the US dollar during the current trading session. Economic data released from the United Kingdom today was not particularly supportive to the currency. UK gross domestic product grew by 0.4% in the first quarter of this year according the second estimate, unrevised from the preliminary reading. But other reports were much […]
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