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Day: August 24, 2016
August 242016
EUR/USD Goes Down, Ignoring Economic Data
US economic data released during the Wednesday’s session was disappointing with existing home sales falling more than was expected. Meanwhile, German GDP growth in the second quarter of 2016 was at 0.4% according the revised estimate, unchanged from the preliminary one, while experts had anticipated a downward revision to 0.3%. Yet all that did not prevent EUR/USD from tumbling today and reaching the lowest level in a week. […]
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August 242016
Turkish Lira Bounces After Earlier Drop
The Turkish lira rose a bit today after falling earlier on the news that Turkey launched a military strike in Syria against Islamic State militants. Turkey launched a military operation across its borders, aimed at driving off Islamic State militants as well as Syrian Kurds allied with Turkish separatists. Syria did not welcome the news, describing the action as a breach of its sovereignty. Yesterday, Turkey’s central bank cut its […]
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August 242016
South African Rand Tumbles Over Political Turmoil
The South African rand fell today as political turmoil in the country made the currency not particularly attractive to investors. South African Finance Minister Pravin Gordhan was summoned to police due to investigation into an alleged spy in the tax service. There are rumors that the actual reason for that was the conflict between the Prime Minister and President Jacob Zuma and Gordhan may even be arrested. The member of the opposition Democratic Alliance said […]
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