Day: September 22, 2016

September 22
2016

EUR/USD Extends Rally After Wednesday’s Policy Announcement from Fed

EUR/USD extended its yesterday’s rally that was caused by the passiveness of the Federal Reserve. Today’s data was not helpful to the US dollar either as both housing data and the leading indicators missed expectations. Only unemployment claims were better than forecasts. Initial jobless claims fell from 260k to 252k last week while analysts had expected them to stay almost unchanged at 261k. (Event A on the chart.) Existing home […]

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September 22
2016

South African Rand Steady After Central Bank Maintains Policy Stable

The South African rand was almost flat against the US dollar after the South African Reserve Bank kept its monetary policy intact but signaled that the monetary tightening cycle may come to an end soon. The bank’s Monetary Policy Committee decided to keep the main interest rate at 7%. The central bank updated its forecast, reducing the inflation projections to target 3%-6% range and boosting the outlook for economic growth. Governor […]

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September 22
2016

NZ Dollar Lower as RBNZ Continues to Talk About Stimulus

The New Zealand dollar declined against the US dollar and the euro today after the nation’s central bank left monetary policy unchanged but maintained its easing bias. The Reserve Bank of New Zealand kept its main interest rate at 2% at today’s policy meeting. Nevertheless, the central bank was dovish in its statement and continued complain about the strength of the currency: The high exchange rate continues to place pressure on the export and import-competing […]

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