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Day: August 4, 2016
August 42016
EUR/USD Falls After BoE Meeting, Bounces Later
EUR/USD was falling today and accelerated its decline after the Bank of England had announced a massive stimulus package. (Event A on the chart.) Yet the currency pair has reversed its movement later and is now trading not far from the opening level. Initial jobless claims rose a bit from 266k to 269k last week. Analysts had anticipated them to stay little changed at 265k. (Event B on the chart.) Factory […]
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August 42016
Australian Dollar Higher Despite Lackluster Retail Sales
The Australian dollar moved higher during today’s trading session even though Australia’s retail sales missed analysts’ estimates. Retail sales rose by just 0.1% in June from May on a seasonally adjusted basis. Market participants were counting on at least 0.3% growth. The Aussie was rising despite the disappointing report but halted its rally after the Bank of England had announced its stimulus package. Nevertheless, the currency is […]
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August 42016
Pound Down as BoE Steps in with Expanded Stimulus
The Great Britain pound dropped today after the Bank of England cut its interest rates, expanded its stimulus program, and lowered the growth forecast. The BoE made a big announcement of additional stimulus package today: At its meeting ending 3 August 2016, the MPC voted for a package of measures designed to provide additional support to growth and to achieve a sustainable return of inflation to the target. This package comprises: a 25 basis point […]
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