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Day: November 23, 2016
November 232016
EUR/USD Declines as Dollar Supported by Fundamentals
The US dollar continued to strengthen against the euro today as the greenback received some support from improving macroeconomic indicators. Durable goods orders added 4.8% in October following 0.4% increase in September (revised positively from 0.1% loss). Market analysts pointed at 1.7% increase for October. (Event A on the chart.) Initial jobless claims rose from 233k to 251k last week, in line with the median forecast of 250k. (Event A on the chart.) Markit […]
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November 232016
US Dollar Climbs on Strong Durable Goods Data and Expected Rate Hike
The dollar appreciated on Wednesday as the US currency resumed its powerful uptrend. The greenbackâs gains followed the release of a report by the Department of Commerce, which showed an increase in durable goods orders that is bigger than estimated. The report said that orders for durable goods, such as appliances, made in the USA rose by 4.8% in October from 0.4% in September, compared to an estimated 3.3% increase. The increase was attributed in a big part to higher demand for commercial […]
Read more
November 232016
US Dollar Climbs on Strong Durable Goods Data and Expected Rate Hike
The dollar appreciated on Wednesday as the US currency resumed its powerful uptrend. The greenbackâs gains followed the release of a report by the Department of Commerce, which showed an increase in durable goods orders that is bigger than estimated. The report said that orders for durable goods, such as appliances, made in the USA rose by 4.8% in October from 0.4% in September, compared to an estimated 3.3% increase. The increase was attributed in a big part to higher demand for commercial […]
Read more
November 232016
British Pound Moves Higher on UK’s Fiscal Stimulus Plans
The British pound enjoyed a positive push on Wednesday following the UKâs Autumn Statement. Chancellor Philip Hammond gave the statement earlier today, during which he spoke about increasing productivity to create better living standards for workers. Hammond announced new spending plans that are aimed at the productivity problem in the United Kingdom. In the statement, increased spending on infrastructure and innovation was prioritized. An additional fiscal stimulus to the UKâs roads and railways will […]
Read more
November 232016
British Pound Moves Higher on UK’s Fiscal Stimulus Plans
The British pound enjoyed a positive push on Wednesday following the UKâs Autumn Statement. Chancellor Philip Hammond gave the statement earlier today, during which he spoke about increasing productivity to create better living standards for workers. Hammond announced new spending plans that are aimed at the productivity problem in the United Kingdom. In the statement, increased spending on infrastructure and innovation was prioritized. An additional fiscal stimulus to the UKâs roads and railways will […]
Read more