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Day: February 28, 2017
February 282017
Canadian Dollar Retreats on Weak US GDP, Despite Positive Manufacturing Prices Data
The Canadian dollar fell against most of its major peers on Tuesday, following a report that revealed that gross domestic product in the United States, Canadaâs biggest trade partner, was weaker than expected. Another report in Canada, which showed healthy inflation in the manufacturing sector, failed to push the loonie into the positive territory. The US Bureau of Economic Analysis released a report containing its second estimate for gross domestic product […]
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February 282017
Canadian Dollar Retreats on Weak US GDP, Despite Positive Manufacturing Prices Data
The Canadian dollar fell against most of its major peers on Tuesday, following a report that revealed that gross domestic product in the United States, Canadaâs biggest trade partner, was weaker than expected. Another report in Canada, which showed healthy inflation in the manufacturing sector, failed to push the loonie into the positive territory. The US Bureau of Economic Analysis released a report containing its second estimate for gross domestic product […]
Read more
February 282017
Amazing US Macroeconomic Data Doesn’t Prevent Rally of EUR/USD
EUR/USD rallied today despite a set of amazing macroeconomic indicators (with the exception of gross domestic product) that was released from the United States during the trading session. In fact, the currency pair surged after the surprise increases of the Richmond manufacturing index and the Conference Board consumer confidence. Market analysts explained the dollar’s weakness by uncertainty ahead of the speech US President Donald Trump is going to deliver to the Congress. Traders were concerned […]
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February 282017
AUD/USD Trades in a Range Ahead of Australia’s GDP Announcement
The AUD/USD currency pair was trading within a range for the better part of today’s session even as markets await the release of GDP data for the last quarter of 2016 early tomorrow morning. The Aussie failed to capitalize on a weaker US dollar even as markets await Donald Trump‘s speech before congress scheduled for later today. The AUD/USD was trading in a range between 0.7662 and 0.7695. The currency pair was unable to break above the upper resistance level […]
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February 282017
AUD/USD Trades in a Range Ahead of Australia’s GDP Announcement
The AUD/USD currency pair was trading within a range for the better part of today’s session even as markets await the release of GDP data for the last quarter of 2016 early tomorrow morning. The Aussie failed to capitalize on a weaker US dollar even as markets await Donald Trump‘s speech before congress scheduled for later today. The AUD/USD was trading in a range between 0.7662 and 0.7695. The currency pair was unable to break above the upper resistance level […]
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February 282017
Britain’s Sterling Soft During Tuesday’s Choppy Trading
The Great Britain pound was vulnerable during Tuesday’s choppy trading, dragged down by concerns about the future of Britain after it leaves the European Union. The currency dropped against such rivals as the US dollar, the euro, and the Japanese yen. Today, trading was a bit slower than usual as traders were waiting for the speech of US President Donald Trump that he is going to deliver during the Wednesday’s Asian trading session. […]
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February 282017
Britain’s Sterling Soft During Tuesday’s Choppy Trading
The Great Britain pound was vulnerable during Tuesday’s choppy trading, dragged down by concerns about the future of Britain after it leaves the European Union. The currency dropped against such rivals as the US dollar, the euro, and the Japanese yen. Today, trading was a bit slower than usual as traders were waiting for the speech of US President Donald Trump that he is going to deliver during the Wednesday’s Asian trading session. […]
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February 282017
US Dollar Drops Against Euro on Concerns Towards Trump Speech
The US dollar weakened against the euro and other major peers on Tuesday, but managed to limit its losses as an index that tracks consumer confidence improved in February. The greenbackâs decline followed nervous anticipation for Donald Trumpâs address to Congress, in which the president expected to reveal more details on his tax reform plans. Investors are concerned that Trumpâs speech might disappoint the market by having a strong protectionist tone that focuses […]
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February 282017
US Dollar Drops Against Euro on Concerns Towards Trump Speech
The US dollar weakened against the euro and other major peers on Tuesday, but managed to limit its losses as an index that tracks consumer confidence improved in February. The greenbackâs decline followed nervous anticipation for Donald Trumpâs address to Congress, in which the president expected to reveal more details on his tax reform plans. Investors are concerned that Trumpâs speech might disappoint the market by having a strong protectionist tone that focuses […]
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February 282017
NZD Flat vs. USD, Lower vs. EUR & JPY amid Unfavorable Fundamentals
The New Zealand dollar was almost flat against its US counterpart but fell against such currencies as the euro and the Japanese yen amid underwhelming domestic macroeconomic data and the unfavorable general market sentiment. The New Zealand trade balance logged a deficit of NZ$285 million in January — a sharp increase from the previous month’s gap of NZ$36 million. The ANZ Business Confidence slid from 21.7 in January to 16.6 in February. The main contributor […]
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