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Day: January 18, 2017
January 182017
EUR/USD Backs Off After Strong Move Up
EUR/USD went down today after yesterday’s move up. The currency pair rushed especially fast to the downside after Janet Yellen, Federal Reserve Chair, said during today’s speech that policy makers should not wait too long before raising interest rates further. (Event C on the chart.) Positive macroeconomic data released from the United States also put pressure on the currency pair. CPI rose 0.3% […]
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January 182017
Canadian Dollar Weakens as the BoC Maintains Interest Rates
The Canadian dollar weakened against major currencies after the Bank of Canada announced that it would be maintaining its benchmark interest rate at 0.5%. The announcement triggered a rally among the loonie’s major competitors as the currency lost most of the gains it had made against other currencies this year. The Canadian dollar suffered major losses against other currencies such as the US dollar, the Japanese yen and the British pound. The loonie’s […]
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January 182017
Canadian Dollar Weakens as the BoC Maintains Interest Rates
The Canadian dollar weakened against major currencies after the Bank of Canada announced that it would be maintaining its benchmark interest rate at 0.5%. The announcement triggered a rally among the loonie’s major competitors as the currency lost most of the gains it had made against other currencies this year. The Canadian dollar suffered major losses against other currencies such as the US dollar, the Japanese yen and the British pound. The loonie’s […]
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January 182017
US Dollar Edges Higher as CPI Data Reveals Stronger Inflation
The US dollar had a small recovery on Wednesday from its losses yesterday. The greenback attempted, with limited success, to find upward momentum, a day after President-elect Donald Trump said the US currency is too strong. Tradersâ demand for the dollar was marginally higher following the release of a report by the release of a report on the consumer price inflation at 13:30 GMT today. The report said that the consumer price indexâs reading in December was […]
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January 182017
US Dollar Edges Higher as CPI Data Reveals Stronger Inflation
The US dollar had a small recovery on Wednesday from its losses yesterday. The greenback attempted, with limited success, to find upward momentum, a day after President-elect Donald Trump said the US currency is too strong. Tradersâ demand for the dollar was marginally higher following the release of a report by the release of a report on the consumer price inflation at 13:30 GMT today. The report said that the consumer price indexâs reading in December was […]
Read more
January 182017
Real Falls vs. Dollar, Brazil’s Officials Unconcerned
The Brazilian real fell against the US dollar today, but Brazil’s officials were not concerned by the dollar’s strength, thinking that there are plenty supportive fundamentals for the Brazilian currency. Finance Minister Henrique Meirelles said at the press conference in Davos that high commodity prices and prospects for economic recovery should support the real. The currency has already gained 1% this year. A strong currency should reduce inflation, and that […]
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January 182017
Real Falls vs. Dollar, Brazil’s Officials Unconcerned
The Brazilian real fell against the US dollar today, but Brazil’s officials were not concerned by the dollar’s strength, thinking that there are plenty supportive fundamentals for the Brazilian currency. Finance Minister Henrique Meirelles said at the press conference in Davos that high commodity prices and prospects for economic recovery should support the real. The currency has already gained 1% this year. A strong currency should reduce inflation, and that […]
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January 182017
Britain’s Pound Unable Maintain Tuesday’s Rally
The Great Britain pound was unable to maintain the Tuesday’s rally today despite better-than-expected employment data released from the United Kingdom on Wednesday. Average weekly earnings rose 2.8% through September to November from the same period a year ago. The number of unemployment claims fell by 1,100 in December from November. Yet the positive report did not help the sterling, which apparently spent all its upward momentum during yesterday’s […]
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January 182017
Britain’s Pound Unable Maintain Tuesday’s Rally
The Great Britain pound was unable to maintain the Tuesday’s rally today despite better-than-expected employment data released from the United Kingdom on Wednesday. Average weekly earnings rose 2.8% through September to November from the same period a year ago. The number of unemployment claims fell by 1,100 in December from November. Yet the positive report did not help the sterling, which apparently spent all its upward momentum during yesterday’s […]
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