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Day: February 22, 2017
February 222017
British Pound Drops Against US Dollar Despite Positive Revision for UK GDP
The British pound dropped against its US counterpart on Wednesday, even as the gross domestic product growth in the United Kingdom during the last quarter of 2016 was revised higher. Demand for the US dollar was higher today following the release of the minutes of the Federal Reserveâs latest policy meeting, which signaled that interest rates could be raised soon. In the United Kingdom, the Office for National Statistics released its second estimate of the gross […]
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February 222017
British Pound Drops Against US Dollar Despite Positive Revision for UK GDP
The British pound dropped against its US counterpart on Wednesday, even as the gross domestic product growth in the United Kingdom during the last quarter of 2016 was revised higher. Demand for the US dollar was higher today following the release of the minutes of the Federal Reserveâs latest policy meeting, which signaled that interest rates could be raised soon. In the United Kingdom, the Office for National Statistics released its second estimate of the gross […]
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February 222017
EUR/USD Accelerates Bounce After FOMC Minutes
EUR/USD fell intraday during the Wednesday’s trading session but bounced later due to subsiding concerns about the outcome of the French presidential elections and positive macroeconomic data from the eurozone. The Federal Open Market Committee released hawkish minutes of its January-February policy meeting, yet the currency pair reacted to that in a surprise manner, accelerating its rally rather than slowing. Existing home sales rose to the seasonally adjusted annual rate […]
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February 222017
US Dollar Rallies, Later Retreats, as Markets Await Release of FOMC Minutes
The US dollar rallied against its main peers today as markets await the release of minutes of the Federal Open Market Committee scheduled for later today. The US dollar gained significantly against its main peers for the fourth consecutive session even as the National Association of Realtors reported higher than expected figures for January home sales. The US dollar rallied to new highs as tracked by the US Dollar Index, which hit a high of 101.72, […]
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February 222017
US Dollar Rallies, Later Retreats, as Markets Await Release of FOMC Minutes
The US dollar rallied against its main peers today as markets await the release of minutes of the Federal Open Market Committee scheduled for later today. The US dollar gained significantly against its main peers for the fourth consecutive session even as the National Association of Realtors reported higher than expected figures for January home sales. The US dollar rallied to new highs as tracked by the US Dollar Index, which hit a high of 101.72, […]
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February 222017
Euro Off Session Lows as Political Fears Subside
The euro rebounded from daily lows, trimming losses against some currencies and rallying versus others, as concerns about the outcome of the French presidential elections eased. Macroeconomic data released from the eurozone today was good, adding to the strength of the shared 19-nation currency. Centrist politician Francois Bayrou announced that he is not going to run for the presidential office and will support independent candidate Emmanuel Macron instead. Analysts said […]
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February 222017
Euro Off Session Lows as Political Fears Subside
The euro rebounded from daily lows, trimming losses against some currencies and rallying versus others, as concerns about the outcome of the French presidential elections eased. Macroeconomic data released from the eurozone today was good, adding to the strength of the shared 19-nation currency. Centrist politician Francois Bayrou announced that he is not going to run for the presidential office and will support independent candidate Emmanuel Macron instead. Analysts said […]
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February 222017
Japanese Yen Gains as Kuroda Says No More Interest Rate Cuts
The Japanese yen rose today, reaching the highest level since November 29 against the euro, after Bank of Japan Governor Haruhiko Kuroda signaled that he does not plan cutting interest rates deeper into the negative territory. Kuroda said on Wednesday: There is not much likelihood that we will further lower the negative rate. The decision to implement negative rates was heavily criticized for having limited […]
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February 222017
Japanese Yen Gains as Kuroda Says No More Interest Rate Cuts
The Japanese yen rose today, reaching the highest level since November 29 against the euro, after Bank of Japan Governor Haruhiko Kuroda signaled that he does not plan cutting interest rates deeper into the negative territory. Kuroda said on Wednesday: There is not much likelihood that we will further lower the negative rate. The decision to implement negative rates was heavily criticized for having limited […]
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February 222017
Aussie Reaches Multi-Year Highs, Ignoring Economic Data
Macroeconomic data released from Australia today was mixed, but that did not prevent the Australian dollar from rising and even reaching multi-year highs against such currencies like the euro and the Swiss franc. The Westpac-Melbourne Institute Leading Index fell from 1.36% in December to 1.30% in January. Construction work done fell 0.3% in the December quarter from the previous three months while markets had expected an increase. The Wage […]
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