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Day: November 25, 2016
November 252016
EUR/USD Rebounds on Black Friday
EUR/USD was rising today, though it has retreated from its highs by now. Most analysts believe that fundamentals remain strongly supportive to the dollar, and the currency’s retreat today was just a result of traders booking profits during the shortened trading week. Preliminary wholesale inventories fell 0.4% in October, the reading that was nowhere near the forecast increase of 0.3%. The inventories were up 0.2% in September. (Event A on the chart.) […]
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November 252016
US Dollar Falls as Traders Anticipate Exchange Rate Correction
The dollar dropped against all of its major peers today as traders collected profits from the US currencyâs strong rally that began once Donald Trump became the latest US President-elect. Trading volumes were thin on Friday after the Thanksgiving holiday in the United States. The dollar touched its strongest level in 14 years earlier this week on increased investorsâ confidence that Trumpâs administration will boost fiscal spending […]
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November 252016
US Dollar Falls as Traders Anticipate Exchange Rate Correction
The dollar dropped against all of its major peers today as traders collected profits from the US currencyâs strong rally that began once Donald Trump became the latest US President-elect. Trading volumes were thin on Friday after the Thanksgiving holiday in the United States. The dollar touched its strongest level in 14 years earlier this week on increased investorsâ confidence that Trumpâs administration will boost fiscal spending […]
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November 252016
Yen Mixed as Deflation Persists
The Japanese yen was mixed today, falling against some currencies and rising versus others (though still touching multi-month lows intraday). Fundamentals were not supportive for the currency as economic data showed that deflation persists despite efforts of policy makers. Japan’s core Consumer Price Index fell 0.4% in October, matching forecasts but with a bit slower pace than in September (0.5%). The Tokyo core CPI also […]
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November 252016
Yen Mixed as Deflation Persists
The Japanese yen was mixed today, falling against some currencies and rising versus others (though still touching multi-month lows intraday). Fundamentals were not supportive for the currency as economic data showed that deflation persists despite efforts of policy makers. Japan’s core Consumer Price Index fell 0.4% in October, matching forecasts but with a bit slower pace than in September (0.5%). The Tokyo core CPI also […]
Read more
November 252016
Positive Data Doesn’t Prevent Fall of Britain’s Pound
The Great Britain pound traded lower against other major currencies (with the exception of the US dollar) during today’s trading session despite solid macroeconomic data released from the United Kingdom on Friday. The second estimate of Britain’s gross domestic product showed growth by 0.5% between the second quarter and the third quarter of 2016, unrevised from the first estimate and in line with expectations. The Index of Services was up 0.8% in the third quarter […]
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November 252016
Positive Data Doesn’t Prevent Fall of Britain’s Pound
The Great Britain pound traded lower against other major currencies (with the exception of the US dollar) during today’s trading session despite solid macroeconomic data released from the United Kingdom on Friday. The second estimate of Britain’s gross domestic product showed growth by 0.5% between the second quarter and the third quarter of 2016, unrevised from the first estimate and in line with expectations. The Index of Services was up 0.8% in the third quarter […]
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