Day: September 6, 2016

September 6
2016

US Dollar Drops on Fading Rate Hike Expectations

Once again, the US dollar’s performance is being tied to rate hike speculation. With concerns about what the ISM non-manufacturing composite will show, the greenback is heading lower as rate hike expectations fade. The dollar index is dropping as traders and analysts re-think speculation about when to expect the Federal Reserve to take action again. The latest ISM data is out, and it looks as though the index fell to 51.4 […]

Read more
September 6
2016

Swiss Franc Soft Despite Supportive Economic Data

The Swiss franc traded flat-to-lower during today’s session even though Switzerland’s economic growth accelerated while deflation slowed. Swiss gross domestic product rose 0.6% in the second quarter of this year, exceeding analysts’ expectations. The Consumer Price Index fell 0.1% in August after declining 0.4% the month before. The Swiss National Bank will conduct a policy meeting next week. USD/CHF traded near its opening level […]

Read more
September 6
2016

Aussie Climbs After RBA Keeps Rates Stable

The Australian dollar climbed during the current trading session as the Reserve Bank of Australia refrained from cutting interest rates further during today’s policy meeting. The RBA kept its main interest rate at 1.5% as analysts had widely expected. The central bank’s statement was basically the same as the previous one and maintained a neutral stance. In other news, Australia’s current account deficit widened a bit in the June quarter compared to the previous three months […]

Read more