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Day: December 23, 2016
December 232016
US Dollar Declines as Currency Traders Collect Profits
The US dollar moved marginally lower against its major peers on Friday, the last day of trading before the Christmas holiday season. A preference of collecting profits from the greenback’s rapid rise was shared by most traders amid thinning trading volumes today. The US currency was boosted to its highest level in 14 years by investors’ anticipation for higher interest rates due to increased fiscal spending under the administration of President-elect Donald […]
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December 232016
US Dollar Declines as Currency Traders Collect Profits
The US dollar moved marginally lower against its major peers on Friday, the last day of trading before the Christmas holiday season. A preference of collecting profits from the greenback’s rapid rise was shared by most traders amid thinning trading volumes today. The US currency was boosted to its highest level in 14 years by investors’ anticipation for higher interest rates due to increased fiscal spending under the administration of President-elect Donald […]
Read more
December 232016
Japanese Yen Gains on Rivals amid Light Trading
The Japanese yen was strong against its most-traded rivals during the quiet Friday trading, though light volumes ensured that the currency’s moves were not significant. While many markets close early today due to the upcoming Christmas, Japanese markets were closed for the entire session. The reason for that is observance of the Emperor’s Birthday in Japan. Despite holidays, next week will bring quite a few economic reports from […]
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December 232016
Japanese Yen Gains on Rivals amid Light Trading
The Japanese yen was strong against its most-traded rivals during the quiet Friday trading, though light volumes ensured that the currency’s moves were not significant. While many markets close early today due to the upcoming Christmas, Japanese markets were closed for the entire session. The reason for that is observance of the Emperor’s Birthday in Japan. Despite holidays, next week will bring quite a few economic reports from […]
Read more
December 232016
EUR/USD Moves Little Higher During Quiet Christmas Trading
EUR/USD rose a little today, extending its rally for the third straight day. The gains were small, though, as volumes were low during quiet trading ahead of Christmas. While the dollar paused its rally for now, analysts believe that it was just a sign of end-year profit taking and the currency should resume its upward movement at the start of the next year. Today’s session was light on economic news from the United […]
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December 232016
Great Britain Pound Remains low Despite Release of Positive Economic data
There was minimal upward movement in the Great Britain pound despite positive economic data released today by the Office for National Statistics indicating that the UK economy was experiencing positive growth. The pound rose briefly against other currencies such as the euro and the US dollar before retracing its gains. The data released regarding the UK’s consumer trends, economic well-being, and quarterly national accounts served to push the Great Britain pound slightly […]
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December 232016
Great Britain Pound Remains low Despite Release of Positive Economic data
There was minimal upward movement in the Great Britain pound despite positive economic data released today by the Office for National Statistics indicating that the UK economy was experiencing positive growth. The pound rose briefly against other currencies such as the euro and the US dollar before retracing its gains. The data released regarding the UK’s consumer trends, economic well-being, and quarterly national accounts served to push the Great Britain pound slightly […]
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December 232016
Canadian Dollar Drops for Third Straight Day
The Canadian dollar dropped today, falling for the third consecutive day against its major peers, after Canada’s economy demonstrated unexpected contraction in October. Canada’s gross domestic product fell 0.3% in October after rising 0.4% in September. Experts had predicted an increase by 0.1%. The report explained the contraction by “widespread decreases in manufacturing output and lower oil and gas extraction.” Today’s data followed yesterday’s inflation report that showed surprise […]
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December 232016
Canadian Dollar Drops for Third Straight Day
The Canadian dollar dropped today, falling for the third consecutive day against its major peers, after Canada’s economy demonstrated unexpected contraction in October. Canada’s gross domestic product fell 0.3% in October after rising 0.4% in September. Experts had predicted an increase by 0.1%. The report explained the contraction by “widespread decreases in manufacturing output and lower oil and gas extraction.” Today’s data followed yesterday’s inflation report that showed surprise […]
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December 232016
Swiss Franc Mixed amid Slow Holiday Trading
The Swiss franc was mixed today, rising against the Great Britain pound, falling versus the euro, and staying mostly flat against the US dollar (though the Swiss currency has moved lower versus the greenback just now). The Swissie, as well as most other currencies, did not move far due to slow trading ahead of the holiday. The KOF Economic Barometer stayed at 102.2 in December, the same as the previous month’s reading. That was […]
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