Day: June 9, 2016

June 9
2016

EUR/USD Turns Sharply Lower

EUR/USD was moving down during the current trading session and extended the decline after US unemployment claims had shown an unexpected drop. The currency pair was also under pressure from the threat of the Brexit. Mario Draghi, President of the European Central Bank, mentioned in his speech today that “uncertainty over the institutional stability of the euro area also matters for monetary policy, since it too can slow down the transmission […]

Read more
June 9
2016

Improved UK Trade Deficit Doesn’t Help Sterling Much

Even though the UK trade deficit improved for April, sterling isn’t seeing a huge improvement against some of its major counterparts. While the UK pound is gaining ground against the euro, it is faltering against the dollar and the yen. Right now, everything is about the upcoming EU membership referendum and economic data is getting lost in the shuffle. Right now, there is a lot of focus on economic data. The UK […]

Read more
June 9
2016

Euro Drops on Warnings of Long-Term Economic Damage

Euro is dropping today, losing ground against most of its major counterparts as ECB President Mario Draghi warns that recent years might have taken a long-term toll on the economic condition of the 19-nation currency bloc. Even though the latest economic news out of Germany is encouraging, the euro is struggling today in Forex trading. ECB President Mario Draghi shared remarks at the Brussels Economic Forum, expressing concerns […]

Read more
June 9
2016

Poor Market Sentiment Attracts Traders to Japanese Yen

The Japanese yen gained today, rising to the multi-year high against the euro, as the market sentiment was not favorable to risky assets, driving investors to the safety of Japan’s currency instead. Yesterday, the World Bank slashed its forecast for global growth in 2016 from 2.9% to 2.4%. Meanwhile, the threat of the Brexit continues to worry market participants. And on top of that, today’s data from China revealed unexpected slowdown of inflation in the world’s second biggest economy. […]

Read more
June 9
2016

China’s Economic Data Mixed, Aussie Trades Lower

The Australian dollar fell against the US dollar and the Japanese yen today after the release of mixed economic data from China, Australia’s biggest trading partner. China’s inflation fell unexpectedly in May as the Consumer Price Index rose just 2% according to the National Bureau of Statistics of China while economists had expected the same 2.3% rate of growth as in April. On the bright side, the Producer Price Index fell 2.8% instead of the predicted 3.1%. […]

Read more
June 9
2016

Canadian Dollar Heads for Fifth Day of Gains vs. US Dollar

The Canadian dollar climbed against its US counterpart for the fourth day in a row on Wednesday and continued to move up during Thursday’s early trading. The currency was little changed against such majors like the euro and the Japanese yen. The main reason for the loonie’s rally against the greenback was US employment data released on Friday. The report was abysmal, basically erasing any chances for an interest rate hike during next week’s meeting […]

Read more