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Day: August 31, 2016
August 312016
EUR/USD Little Changed After Mixed US Data
EUR/USD was trading mostly sideways today. US economic reports did not help the currency pair to find direction as solid employment and the strong housing market contrasted with the worse-than-expected Chicago Business Barometer. ADP employment rose by 177k in August, a bit more than analysts had expected (174k) but less than the July’s revised increase of 194k (179k before the revision). (Event A on the chart.) Chicago PMI fell to 51.5 […]
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August 312016
Housing Market Helps UK Pound Today
A rebounding housing market is helping the UK pound today. Sterling is higher against some of its major counterparts, even though the long-term expectations are for a downside, due to continued Brexit concerns. Even though there are still concerns about the UK economy, things are looking a little better right now. The latest economic data comes in the form of a Nationwide House Price report for the month of August, showing that […]
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August 312016
New Zealand Dollar Rises Despite Falling Business Confidence
The New Zealand dollar rose against its major rivals during the current trading session even though the business confidence eased during this month. The ANZ Business confidence eased from 16.0 to 15.5 in August. Nevertheless, the tone of the report was rather upbeat: Business confidence and firmsâ own activity expectations were broadly unchanged in August, but stronger after adjusting for seasonality. Furthermore, the report said: The economy is […]
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August 312016
Hungarian Forint Declines with Foreign Investment
The Hungarian forint dropped against the US dollar today as investors were reluctant to bring money into the nation’s economy. According to Reuters, the volume of investments in Hungary tumbled 20.3% in the second quarter of this year from a year ago. Analysts gave hope, saying that inflows may resume next year. Despite the drop, the forint stayed near the highest level in almost six months. USD/HUF was up 0.31% to 278.76 as of 11:20 […]
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