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Day: November 17, 2016
November 172016
EUR/USD Fails to Rally Again
EUR/USD fell today, making it a ninth session of losses in a row, after an unsuccessful attempt to rally earlier. While economic data from the United States was mixed, markets preferred to focus on the good parts. Both housing starts and building permits rose in October. Housing starts were at the seasonally adjusted annual rate of 1.32 million, compared to the predicted 1.16 million and the previous month’s reading of 1.05 million. Building permits were […]
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November 172016
US Dollar Steadies as Fed Chair Janet Yellen Supports Raising Interest Rates
The US dollar recovered all of the losses it made earlier on Thursday following the testimony of Federal Reserve Chair Janet Yellen in front of Congress, in which she said that increasing interest rates soon is appropriate and should place the US economy on the right track. Yellen spoke to Congressâs Joint Economic Committee at 15:00 GMT today. In her remarks she said that the moderate growth seen in the worldâs largest economy should […]
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November 172016
US Dollar Steadies as Fed Chair Janet Yellen Supports Raising Interest Rates
The US dollar recovered all of the losses it made earlier on Thursday following the testimony of Federal Reserve Chair Janet Yellen in front of Congress, in which she said that increasing interest rates soon is appropriate and should place the US economy on the right track. Yellen spoke to Congressâs Joint Economic Committee at 15:00 GMT today. In her remarks she said that the moderate growth seen in the worldâs largest economy should […]
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November 172016
British Pound Loses Gains as Brexit Overshadows Impressive Retail Sales Growth
The British pound appreciated on Thursday against the US dollar following the release of retail sales data, which showed the strongest growth in 14 years. However, the UK currency was unable to maintain its gains as uncertainty about the nationâs future as a member in the European Union overshadowed the positive data. A report issued by the Office for National Statistics earlier today said that retail sales volumes rose by 1.9% in October from September, which is […]
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November 172016
British Pound Loses Gains as Brexit Overshadows Impressive Retail Sales Growth
The British pound appreciated on Thursday against the US dollar following the release of retail sales data, which showed the strongest growth in 14 years. However, the UK currency was unable to maintain its gains as uncertainty about the nationâs future as a member in the European Union overshadowed the positive data. A report issued by the Office for National Statistics earlier today said that retail sales volumes rose by 1.9% in October from September, which is […]
Read more