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Day: February 24, 2017
February 242017
EUR/USD Fails to Rally on Disappointing US Housing Data
EUR/USD rallied today but has lost all its gains by now. The currency pair attempted to rally after the US new home sales missed expectations, but the rally was extremely short-lived. New home sales were at the seasonally adjusted annual rate of 555k in January. The reading was higher than the previous month’s 535k but lower than the average forecast of 575k. Michigan Sentiment Index slipped from 98.5 […]
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February 242017
Canadian Dollar Edges Higher Against US Counterpart on Strong Inflation Data
The Canadian dollar moved higher against its US counterpart on Friday, following fresh data that revealed that Canadaâs inflation improved to a healthier level. However, the loonieâs gains against the greenback were limited as new home sales improved in the United States, which supported the US dollar. Statistics Canada, the nationâs office for statistical releases, said today that the consumer price index rose 2.1% in January from a year earlier, […]
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February 242017
Canadian Dollar Edges Higher Against US Counterpart on Strong Inflation Data
The Canadian dollar moved higher against its US counterpart on Friday, following fresh data that revealed that Canadaâs inflation improved to a healthier level. However, the loonieâs gains against the greenback were limited as new home sales improved in the United States, which supported the US dollar. Statistics Canada, the nationâs office for statistical releases, said today that the consumer price index rose 2.1% in January from a year earlier, […]
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February 242017
US Dollar Rallies Briefly After Release of Home Sales Data, Later Retraces Gains
The US dollar rallied briefly against its main competitors after the release of new homes sales data for the month of January as reported by the Census Bureau. The greenback’s brief rally was also supported by the release of a positive consumer confidence index report for February as tracked by the University of Michigan. The US Dollar Index, which tracks the greenback’s performance, hit a daily high of 101.09 after the two announcements. However, the index retraced most of its daily gains to trade […]
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February 242017
US Dollar Rallies Briefly After Release of Home Sales Data, Later Retraces Gains
The US dollar rallied briefly against its main competitors after the release of new homes sales data for the month of January as reported by the Census Bureau. The greenback’s brief rally was also supported by the release of a positive consumer confidence index report for February as tracked by the University of Michigan. The US Dollar Index, which tracks the greenback’s performance, hit a daily high of 101.09 after the two announcements. However, the index retraced most of its daily gains to trade […]
Read more
February 242017
Pound Heads to Weekly Gains Despite Falling on Friday
The Great Britain pound fell today but remained on track to weekly gains as political uncertainties in the United States and the European Union drew traders’ attention away from the Brexit. Analysts said that traders focused on European elections and news from the United States, meaning that the Brexit has lesser impact on the currency market now than it had before. Yet they also argued that Britain’s exit from the EU […]
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February 242017
Pound Heads to Weekly Gains Despite Falling on Friday
The Great Britain pound fell today but remained on track to weekly gains as political uncertainties in the United States and the European Union drew traders’ attention away from the Brexit. Analysts said that traders focused on European elections and news from the United States, meaning that the Brexit has lesser impact on the currency market now than it had before. Yet they also argued that Britain’s exit from the EU […]
Read more