Day: August 10, 2016

August 10
2016

EUR/USD Pushes Higher

EUR/USD continued to rally as the post-NFP rally of the dollar was fading. Absence of important macroeconomic data from the United States was not helpful to the greenback either. Saying that, Friday is going to be reach on reports from the USA with most noteworthy being the PPI, retail sales, and the consumer sentiment. Crude oil inventories increased by 1.1 million barrels last week after rising 1.4 million the week before while […]

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August 10
2016

US Dollar Drops as Fed Rate Hike Slips Further Into the Future

US dollar is heading lower against most of its major counterparts today as the latest data reduces that chances that the Federal Reserve will raise rates in the near future. Global stocks are higher and commodities are gaining, and these are factors weighing on the greenback. The latest economic data relating to productivity has disappointed economists and analysts. There are indications that this could mean more weakness ahead […]

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August 10
2016

Euro Gets Some Breathing Room

Euro is getting some breathing room today, thanks in part to better news out of Germany. The latest trade surplus numbers are helpful, but long-term there are still issues that are likely to contribute to euro weakness. The German trade surplus data is helping the euro in Forex trading today. On top of that, renewed commitments to Spain and Portugal are helping. There were concerns that those conuntries […]

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August 10
2016

New Zealand Dollar Firm Ahead of Policy Meeting

The Reserve Bank of New Zealand prepares for a monetary policy meeting where it is likely to cut interest rates. Yet the New Zealand dollar looks unfazed by the prospects for monetary easing, staging a strong rally during the Wednesday’s trading session. The RBNZ will announce its decision as of 21:00 GMT today. The general consensus is that the central bank will cut its main interest rate by 25 basis points to 2%. […]

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August 10
2016

Australian Dollar Continues Climb Higher

The Australian dollar extended its rally today, rising against the euro for the seventh consecutive trading session. It is hard to explain the resilience of the currency considering that fundamentals were not particularly supportive for the Aussie. Australian home loans rose at the rate of 1.2% in June from May, two times slower than economists had anticipated. On the positive note, the Westpac Melbourne Institute Index of Consumer Sentiment advanced 2.0% in August from […]

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