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Day: March 3, 2017
March 32017
EUR/USD Bounces, Erasing Weekly Loss
EUR/USD bounced today, heading to close flat over the week. During the week, the currency pair reached the lowest level since January 11. The rally of the currency could be explained by profit-taking by dollar bulls (and euro bears) ahead of today’s speech of Federal Reserve head Janet Yellen, which may support the outlook for an interest rate hike from the Fed in March. Markit services PMI dropped from the Januaryâs 14-month high of 55.6 […]
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March 32017
EUR/USD Retreats from Daily High After Release of US ISM Data
The EUR/USD currency pair retreated from its bullish run during the European session after the release of the US ISM Non-Manufacturing PMI data, which beat expectations. The currency pair rallied during the European session as the results of an election poll released by polling agency Odoxa indicated that Emmanuel Macron was leading the presidential race in France followed by Marine Le Pen. At the height of its rally, the EUR/USD had gained close to 70 points […]
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March 32017
Pound Retreats as Growth of Services Sectors Slows Beyond Expectations
The Great Britain pound fell against its rivals during today’s session after growth of Britain’s services sector slowed more than analysts had anticipated to the slowest pace since September 2016. The seasonally adjusted Markit/CIPS UK Services PMI dropped from 54.5 in January to 53.3 in February. While the index was still far above the neutral 50.0 reading that separates expansion and contraction, the actual value was nowhere […]
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March 32017
Yen Mixed After Set of Economic Reports from Japan
Economic data released from Japan over the current trading session was not particularly good. That did not prevent the Japanese yen from standing its ground against some currencies (like the US dollar and the Great Britain pound), even though it fell against others (like the euro and the Swiss franc). Japan’s national core Consumer Price Index rose 0.1% in January from a year ago, nowhere […]
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