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Day: January 31, 2017
January 312017
Canadian Dollar Doesn’t Pay Heed to Supportive Fundamentals
The Canadian dollar gained on its weak US counterpart during Tuesday’s trading but was unable to beat such strong currencies as the euro and the Japanese yen despite supportive fundamentals. Canada’s gross domestic product rose 0.4% in November, exceeding the analysts’ median projection of 0.3%. What is more, the previous month’s change was revised from -0.3% to -0.2%. The Raw Materials Price Index increased 6.5% in December, far surpassing […]
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January 312017
Canadian Dollar Doesn’t Pay Heed to Supportive Fundamentals
The Canadian dollar gained on its weak US counterpart during Tuesday’s trading but was unable to beat such strong currencies as the euro and the Japanese yen despite supportive fundamentals. Canada’s gross domestic product rose 0.4% in November, exceeding the analysts’ median projection of 0.3%. What is more, the previous month’s change was revised from -0.3% to -0.2%. The Raw Materials Price Index increased 6.5% in December, far surpassing […]
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January 312017
Euro Soars After Comments from Trump Trade Advisor
The euro gained today on its major counterparts today, soaring 1% against the US dollar, after comments from Peter Navarro, head of US President’s new National Trade Council. Navarro claimed that Germany uses the “grossly undervalued” euro to take advantage over the United States and other countries. German Chancellor Angela Merkel denied the accusations, saying that the government cannot influence the currency and stating: Germany is a country […]
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January 312017
Euro Soars After Comments from Trump Trade Advisor
The euro gained today on its major counterparts today, soaring 1% against the US dollar, after comments from Peter Navarro, head of US President’s new National Trade Council. Navarro claimed that Germany uses the “grossly undervalued” euro to take advantage over the United States and other countries. German Chancellor Angela Merkel denied the accusations, saying that the government cannot influence the currency and stating: Germany is a country […]
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January 312017
CHF Retreats vs. EUR After Trading Near Highest Since Brexit Vote
The Swiss franc gained on the US dollar during the current trading session. The Swissie fell against the euro, but its daily high was near the highest level since the Brexit announcement. The recent gains of the franc against the euro led to speculations that the Swiss National Bank, which was previously aggressively intervening on markets to bring the exchange rate down, is content with letting the Swiss currency to appreciate. Analysts point out […]
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January 312017
CHF Retreats vs. EUR After Trading Near Highest Since Brexit Vote
The Swiss franc gained on the US dollar during the current trading session. The Swissie fell against the euro, but its daily high was near the highest level since the Brexit announcement. The recent gains of the franc against the euro led to speculations that the Swiss National Bank, which was previously aggressively intervening on markets to bring the exchange rate down, is content with letting the Swiss currency to appreciate. Analysts point out […]
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January 312017
EUR/USD Jumps After Remarks About Euro’s Weakness
EUR/USD rallied strongly today after remarks from Peter Navarro, the head of Donald Trumpâs new National Trade Council, who claimed that Germany uses the weakness of the euro as an advantage against its main trading partners. Economic data was beneficial to the currency pair as well. Eurozone inflation beat expectations (event A on the chart), while the US consumer confidence and the Chicago PMI trailed forecasts. S&P/Case-Shiller home price index rose […]
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January 312017
Turkish Lira Weakens amid Complicated Environment
The Turkish lira fell against the US dollar today as complicated environment makes it hard for the central bank to support the currency. On one hand, the falling currency and accelerating inflation prompt the Central Bank of Republic of Turkey to tighten its monetary policy. On the other hand, the central bank remains under pressure from the government to keep interest rates low to bolster economic growth. The bank resorted to raising various rates without touching its […]
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January 312017
Turkish Lira Weakens amid Complicated Environment
The Turkish lira fell against the US dollar today as complicated environment makes it hard for the central bank to support the currency. On one hand, the falling currency and accelerating inflation prompt the Central Bank of Republic of Turkey to tighten its monetary policy. On the other hand, the central bank remains under pressure from the government to keep interest rates low to bolster economic growth. The bank resorted to raising various rates without touching its […]
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January 312017
British Pound Drops Ahead of Parliament’s Debate of Article 50
The British pound declined against the euro, US dollar, and other major peers on Tuesday, as Parliament prepared to begin discussing the governmentâs triggering of Article 50. The debate, which decides the future of the United Kingdom departure of the European Union, is keeping investors away from the British currency. The UK government is pushing for its Article 50 bill to be approved by Parliament as soon as possible, as Prime Minister Theresa May attempts to start the Brexit […]
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