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Day: March 1, 2017
March 12017
Dollar Gains on Euro After Trump’s Speech, Retreats Later
The dollar gained on the euro on Wednesday after the speech of US President Donald Trump that he delivered to the Congress overnight. Yet the greenback backed off later, losing almost all of its gains by now. US economic data was unable to provide support to the greenback as today’s indicators were rather mixed. Personal income and spending rose in January. Income increased 0.4% after rising 0.3% in December. Spending was up 0.2% […]
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March 12017
USD/CAD Rallies on Positive US ISM Manufacturing Data and BoC Announcement
The USD/CAD currency pair rallied higher today after the Bank of Canada today announced that it would be maintaining interest rates at the same level. The currency pair’s rally was also largely triggered by the greenback’s solid performance after the release of the US ISM Manufacturing PMI data, which beat expectations. The currency pair had gained over 50 points from its daily low prior to the two announcements, which […]
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March 12017
USD/CAD Rallies on Positive US ISM Manufacturing Data and BoC Announcement
The USD/CAD currency pair rallied higher today after the Bank of Canada today announced that it would be maintaining interest rates at the same level. The currency pair’s rally was also largely triggered by the greenback’s solid performance after the release of the US ISM Manufacturing PMI data, which beat expectations. The currency pair had gained over 50 points from its daily low prior to the two announcements, which […]
Read more
March 12017
US Dollar Jumps Against All Major Peers Following Trump Address to Congress
The US dollar surged against a basket of its major peers on Wednesday, after Donald Trump spoke in Congress earlier today about a number of anticipated issues, including US tax reform, foreign trade, and deregulation. The highly awaited speech lowered investorsâ concerns, as the US president said that he supports free trade as long as it remains fair. He also added that a tax reform is being developed by his […]
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March 12017
US Dollar Jumps Against All Major Peers Following Trump Address to Congress
The US dollar surged against a basket of its major peers on Wednesday, after Donald Trump spoke in Congress earlier today about a number of anticipated issues, including US tax reform, foreign trade, and deregulation. The highly awaited speech lowered investorsâ concerns, as the US president said that he supports free trade as long as it remains fair. He also added that a tax reform is being developed by his […]
Read more
March 12017
Economic Data from Australia & China Helps Aussie
The Australian dollar rallied against other currencies during the current trading session with the help of good macroeconomic reports from Australia and its biggest trading partner, China. The exception was the US dollar, against which the Aussie rallied initially but retreated to trade close to the opening level later. Australia’s gross domestic product rose 1.1% (seasonally adjusted) in the December quarter of 2016 from the previous three months. It was […]
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March 12017
Economic Data from Australia & China Helps Aussie
The Australian dollar rallied against other currencies during the current trading session with the help of good macroeconomic reports from Australia and its biggest trading partner, China. The exception was the US dollar, against which the Aussie rallied initially but retreated to trade close to the opening level later. Australia’s gross domestic product rose 1.1% (seasonally adjusted) in the December quarter of 2016 from the previous three months. It was […]
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March 12017
Market Sentiment Turns Positive After Trump’s Speech, Yen Takes Hit
The Japanese yen fell against its most-traded rivals during the Wednesday’s trading session as the market sentiment was positive following the first speech of US President Donald Trump to the Congress. Truth be told, Trump’s speech lacked details about his plans for bolstering the US economy, exactly as market participants had feared. Yet apparently his uncharacteristically calm and reasonable language as well as absence of any outrageous statements were enough […]
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March 12017
Market Sentiment Turns Positive After Trump’s Speech, Yen Takes Hit
The Japanese yen fell against its most-traded rivals during the Wednesday’s trading session as the market sentiment was positive following the first speech of US President Donald Trump to the Congress. Truth be told, Trump’s speech lacked details about his plans for bolstering the US economy, exactly as market participants had feared. Yet apparently his uncharacteristically calm and reasonable language as well as absence of any outrageous statements were enough […]
Read more