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Day: March 7, 2017
March 72017
Disappointing US Data Doesn’t Help EUR/USD
Macroeconomic data released from the United States today failed to meet market expectations, but it hardly affected EUR/USD, which fell despite the intraday attempt to bounce. The most likely reasons for the drop were: anticipation of an interest rate hike from the Federal Reserve next week, expectations of decent nonfarm payrolls this week, and renewed concerns about the outcome of the French presidential elections. Trade balance deficit widened to $48.5 billion […]
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March 72017
Canadian Dollar Trades near Lowest Level in Two Months After Trade Data
The Canadian dollar retreated against its US counterpart and other major peers on Tuesday, despite a report that revealed a stronger trade surplus in Canada than expected. The US dollar has been strongly supported this week by higher odds of an interest rate hike from the Federal Reserve. Statistics Canada, the central statistical office of the country, released its report for the international trade balance, which said that Canadian trade surplus […]
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March 72017
Brexit Fears & Poor Macroeconomic Data Drive Pound Down
The Great Britain pound fell today, trading near the lowest level since January 17 versus the US dollar, driven down by Brexit fears and poor macroeconomic reports. British Retail Consortium reported that like-for-like retail sales fell 0.4% in February from a year ago. The Halifax House Price Index was up just 0.1% last month from the previous month versus the 0.4% increase predicted by analysts. Meanwhile, […]
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March 72017
Australian Dollar Welcomes RBA Decision to Stay Pat
The Reserve Bank of Australia maintained its cash rate unchanged during the monetary policy meeting on Tuesday. The Australian dollar reacted positively to the news. Currently, the Aussie trades off the day’s highs but still above the opening level. The RBA left its main interest rate at 1.5%. Such decision was widely anticipated by market participants, providing no surprises. The policy statement had few changes compared to the previous ones, remaining […]
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