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Day: August 23, 2016
August 232016
EUR/USD Loses Gains Made Earlier During Session
EUR/USD was rising during the current session, getting help from a bunch of solid PMI figures released from the eurozone. Yet the currency pair has reversed its upside movement as of 12:00 GMT and was moving down ever since. Weak manufacturing data from the United States did little to stop the decline. Markit manufacturing PMI fell from 52.9 in July to 52.1 in August, according to the flash estimate, failing to reach […]
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August 232016
Dollar Mixed as Traders Wait for Yellen & Jackson Hole Symposium
The US dollar was mixed today, rising against the euro (after the falling earlier), falling versus the Great Britain pound, and staying almost flat against the Japanese yen. The greenback also demonstrated mixed performance against commodity currencies. Traders’ attention is focused on the Jackson Hole symposium scheduled for the end of the week. Fed Chairwoman Janet Yellen will speak ahead of the meeting on Friday, and that is perhaps even more important […]
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August 232016
Pound Firm During Tuesday’s Trading
The Great Britain pound was relatively firm during the Tuesday’s trading session. Analysts offer various explanations for the currency’s good performance. Some experts speculated that short sellers were taking profits after the huge slump that followed the Brexit announcement. Other specialists said that the recent string of positive macroeconomic indicators suggested that Britain’s economy remains resilient, discouraging market participants from excessive bearishness on the UK […]
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August 232016
Euro Mixed After Release of PMIs
The euro rose against the US dollar but fell versus the relatively strong Great Britain pound following the release of Purchasing Managers’ Indexes from the eurozone. Markit Economics released a bunch of PMIs today (for France, Germany, and the whole eurozone). Most of them were decent, staying above the neutral 50.0 level. The only disappointment was France’s manufacturing indicator that fell instead of rising as analysts had predicted and stayed below 50.0, […]
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August 232016
NZD Hard Pressed to Keep Gains Caused by Wheeler’s Comments
The New Zealand dollar rallied during early hours of the Tuesday’s trading session as Graeme Wheeler, Reserve Bank of New Zealand Governor, signaled that the central bank is not in a hurry to continue interest rate cuts. Yet the currency had troubles keeping its gains. Wheeler was delivering a speech titled “Monetary policy challenges in turbulent times,” during which he said: We do not believe that the outlook […]
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