Day: November 22, 2016

November 22
2016

Dollar Returns to Gains as Traders Expect Accelerated Rate Hikes

The dollar did not stay down for long, as the US currency already went higher on Tuesday. A surge in US existing home sales during October boosted traders’ expectations that the Federal Reserve might decide multiple interest rate increases in 2017 following a predicted rate hike in December. After a small selloff on Monday, which was caused by traders’ reevaluation of the dollar’s recent gains, the US currency returned to climb again on Tuesday. […]

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November 22
2016

Dollar Returns to Gains as Traders Expect Accelerated Rate Hikes

The dollar did not stay down for long, as the US currency already went higher on Tuesday. A surge in US existing home sales during October boosted traders’ expectations that the Federal Reserve might decide multiple interest rate increases in 2017 following a predicted rate hike in December. After a small selloff on Monday, which was caused by traders’ reevaluation of the dollar’s recent gains, the US currency returned to climb again on Tuesday. […]

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November 22
2016

Positive US Data Prevents EUR/USD from Rising Further

EUR/USD halted its long decline and rose on Monday but was unable to extend the rise on Tuesday. The currency pair lost its upward momentum as economic data released from the United States over the trading session was good and exceeded analysts’ expectations, providing support to the dollar. Richmond Fed manufacturing index posted a reading of 4 in November after logging a reading of -4 in October. Experts had predicted a smaller increase to 1. […]

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November 22
2016

British Pound Reverses Yesterday’s Gains Ahead of Hammond’s Statement

The British pound came under pressure on Tuesday as currency traders had an increased demand for shelter assets to reduce their exposure to sudden movements in the pound’s exchange rate. The pound is expected to move violently ahead of the UK’s Autumn Statement that will be given tomorrow by Chancellor Philip Hammond. Investors will be keeping a close eye on the statement, which is expected to give more hints on the government’s spending plan following […]

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November 22
2016

British Pound Reverses Yesterday’s Gains Ahead of Hammond’s Statement

The British pound came under pressure on Tuesday as currency traders had an increased demand for shelter assets to reduce their exposure to sudden movements in the pound’s exchange rate. The pound is expected to move violently ahead of the UK’s Autumn Statement that will be given tomorrow by Chancellor Philip Hammond. Investors will be keeping a close eye on the statement, which is expected to give more hints on the government’s spending plan following […]

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