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Day: March 2, 2017
March 22017
Euro’s Performance Isn’t Stellar Despite Supportive Fundamentals
The euro fell against the US dollar and the Great Britain pound on Thursday despite seemingly positive macroeconomic data. The euro performed better against various other currencies, including the Japanese yen. Eurozone annual inflation was at 2.0% in February while experts had expected it to stay 1.8%, the same as in January. This means that inflation reached the central bank’s target. Other economic reports released over the Thursday’s session were […]
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March 22017
Biggest Forex Scam Pt. XII (Emad Echadi and Michel Geurkink)
Forex traders and professional investors in general would be well aware of the numerous currency trading related scams that are being unearthed every year. While the underlying principle behind a Forex scam is always the same â to prey on greed â the modus operandi changes according to the circumstances. In the recent years, the CFTC is actively engaged in bringing the perpetrators of Ponzi schemes to justice. However, the scammers always fly below the radar […]
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March 22017
USD/CAD Deflates Briefly from Bullish Trend After Release of Canadian GDP Data
The USD/CAD currency pair deflated from its bullish trend after the release of GDP figures for December by Statistics Canada earlier today. However, this was a temporary move given the prevailing positive market sentiment towards the US dollar as investors price-in the possibility of a Fed rate hike in March. The currency pair had gained close to 40 points as at the time of writing and the slight deflation was hardly traceable as it was eclipsed by the currency […]
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March 22017
USD/CAD Deflates Briefly from Bullish Trend After Release of Canadian GDP Data
The USD/CAD currency pair deflated from its bullish trend after the release of GDP figures for December by Statistics Canada earlier today. However, this was a temporary move given the prevailing positive market sentiment towards the US dollar as investors price-in the possibility of a Fed rate hike in March. The currency pair had gained close to 40 points as at the time of writing and the slight deflation was hardly traceable as it was eclipsed by the currency […]
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March 22017
US Dollar Climbs on Expectations of an Interest Rate Hike by Federal Reserve in March
The US dollar climbed against the euro and the British pound, as the market expected a higher probability of an interest rate hike by the Federal Reserve later this month. The stronger expectation comes after a number of officials from the central bank affirmed that economic growth is strong and healthy. Federal Reserveâs Board of Governors Member Lael Brainard said yesterday that both global and US economies are improving, which signals that raising […]
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March 22017
US Dollar Climbs on Expectations of an Interest Rate Hike by Federal Reserve in March
The US dollar climbed against the euro and the British pound, as the market expected a higher probability of an interest rate hike by the Federal Reserve later this month. The stronger expectation comes after a number of officials from the central bank affirmed that economic growth is strong and healthy. Federal Reserveâs Board of Governors Member Lael Brainard said yesterday that both global and US economies are improving, which signals that raising […]
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March 22017
USD/CHF Rises as Swiss GDP Misses Forecasts
The Swiss franc fell against the US dollar today as Switzerland’s gross domestic product missed economists’ expectations. Against other most-traded counterparts, the currency was either flat or higher. Swiss GDP rose just 0.1% in the fourth quarter of 2016, the same as in the previous three months. Analysts had promised growth by about 0.5%. Retails sales dropped 1.4% in January from a year ago, though the drop was not as big as experts […]
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March 22017
USD/CHF Rises as Swiss GDP Misses Forecasts
The Swiss franc fell against the US dollar today as Switzerland’s gross domestic product missed economists’ expectations. Against other most-traded counterparts, the currency was either flat or higher. Swiss GDP rose just 0.1% in the fourth quarter of 2016, the same as in the previous three months. Analysts had promised growth by about 0.5%. Retails sales dropped 1.4% in January from a year ago, though the drop was not as big as experts […]
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March 22017
Pound Flat as Britain’s Economic Data Mixed
The Great Britain pound was basically flat against its major peers today as reports painted a mixed picture of Britain’s economy, giving the currency no clear direction. The sterling fell for four consecutive sessions before today. The Markit/CIPS UK Construction PMI ticked up from 52.2 to 52.5 in February while analysts had expected the index to stay unchanged. The Markit/CIPS UK Manufacturing PMI, on the other hand, slipped from 55.7 […]
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March 22017
Pound Flat as Britain’s Economic Data Mixed
The Great Britain pound was basically flat against its major peers today as reports painted a mixed picture of Britain’s economy, giving the currency no clear direction. The sterling fell for four consecutive sessions before today. The Markit/CIPS UK Construction PMI ticked up from 52.2 to 52.5 in February while analysts had expected the index to stay unchanged. The Markit/CIPS UK Manufacturing PMI, on the other hand, slipped from 55.7 […]
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