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Day: November 16, 2016
November 162016
Dollar’s Post-Election Rally Continues
EUR/USD dropped on Wednesday, falling to the lowest level since the big jump on December 3 (a day that followed the mass shooting in the United States), as the dollar’s post-election rally continued. The dollar gained on the euro even though basically all of Wednesday’s economic reports released from the United States missed market expectations. PPI showed no change in October while analysts had predicted the same 0.3% rate of growth as in September. (Event A on the chart.) […]
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November 162016
US Dollar Surges to Its Highest Level Since 2003 on Trump’s Fiscal Policy
The dollar rose to its strongest level since 2003 against the euro and a basket of major currencies on Wednesday. The US currencyâs surge that lasted for six days in a row drew strength from speculations that President-elect Donald Trump might increase fiscal spending. Investors expect that US inflation will get a strong push from the administration of Trump, which is set to introduce new tax cuts and increase fiscal spending […]
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November 162016
US Dollar Surges to Its Highest Level Since 2003 on Trump’s Fiscal Policy
The dollar rose to its strongest level since 2003 against the euro and a basket of major currencies on Wednesday. The US currencyâs surge that lasted for six days in a row drew strength from speculations that President-elect Donald Trump might increase fiscal spending. Investors expect that US inflation will get a strong push from the administration of Trump, which is set to introduce new tax cuts and increase fiscal spending […]
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November 162016
Pound Doesn’t Move Far After Confusing Employment Data
The Great Britain pound traded in a narrow range today, not moving far from the opening level, as mixed employment data did not give a reason for the currency to go either up or down. According to the report released today, average weekly earnings rose 2.3% in three months through September from the same period a year ago, matching forecasts and the same as in the previous reporting period. The unemployment rate slipped unexpectedly from 4.9% […]
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November 162016
Pound Doesn’t Move Far After Confusing Employment Data
The Great Britain pound traded in a narrow range today, not moving far from the opening level, as mixed employment data did not give a reason for the currency to go either up or down. According to the report released today, average weekly earnings rose 2.3% in three months through September from the same period a year ago, matching forecasts and the same as in the previous reporting period. The unemployment rate slipped unexpectedly from 4.9% […]
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November 162016
Australian Dollar Sinks Despite Decent Economic Reports
The Australian dollar sank against its major peers today. It is hard to say why the currency was so weak considering that economic data released from Australia on Wednesday was not that bad. The Westpac-Melbourne Institute Leading Index showed slower growth in October than in September, but it still was not bad, and Westpac’s Chief Economist Bill Evans commented: The October reading is the third […]
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November 162016
Australian Dollar Sinks Despite Decent Economic Reports
The Australian dollar sank against its major peers today. It is hard to say why the currency was so weak considering that economic data released from Australia on Wednesday was not that bad. The Westpac-Melbourne Institute Leading Index showed slower growth in October than in September, but it still was not bad, and Westpac’s Chief Economist Bill Evans commented: The October reading is the third […]
Read more