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Day: July 1, 2016
July 12016
EUR/USD Rises a Little
EUR/USD rose today, but the gains were limited. US economic data released during the current session was mixed, with manufacturing reports being good while construction spending being surprisingly poor. Interestingly enough, the currency pair trimmed gains after the poor report, not the good ones. Markit manufacturing PMI rose to 51.3 in June from 50.7 in May according to the final estimate. The actual reading was not […]
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July 12016
Mexican Peso Drops Following Interest Rate Hike
The Mexican peso trades below the opening level as of now even though the nation’s central bank made a bigger interest rate hike than experts had predicted. The Bank of Mexico raised its main interest rate by 50 basis points. Most analysts were counting on an increase by just 25 points. The hike followed the peso’s drop to record lows after the Brexit. USD/MXN was up 0.64% to 18.3982 as of 17:30 GMT today. […]
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July 12016
Brazil’s Central Bank Intervenes to Weaken Real
The Brazilian real dropped today after the central bank intervened on currency markets to curb the excessive appreciation of the real. The Brazilian currency has demonstrated the biggest monthly rally in 13 years during June. The Central Bank of Brazil reacted by selling $500 million in reverse swaps. Experts say that it doesn’t look like the bank targets some specific exchange rate but rather tries to reduce exposure to foreign exchange markets […]
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