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Day: March 17, 2017
March 172017
EUR/USD Pauses Rally After Two Days of Gains
EUR/USD fell today after two days of gains even though today’s economic data from the United States was mixed, and other fundamentals also did not provide a reason for the rally to stop. Yet the euro was weak across the board during the Friday’s session, most likely because traders considered the rally excessive and decided to take profits. Industrial production was unchanged in February instead of rising 0.3% as analysts had […]
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March 172017
US Dollar Trades near Lowest Level in More Than a Month
An index that tracks the strength of the US dollar traded on Friday near its lowest level since February 6, even as the greenback recovered some of its losses against the euro and the Canadian dollar today. Investors paid little attention to mixed data in the United States today, as anticipation built up for a meeting between the finance ministers of the Group of Twenty. The meeting, which started today, is closely watched by the market in search for hints of the positions […]
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March 172017
US Dollar Trades near Lowest Level in More Than a Month
An index that tracks the strength of the US dollar traded on Friday near its lowest level since February 6, even as the greenback recovered some of its losses against the euro and the Canadian dollar today. Investors paid little attention to mixed data in the United States today, as anticipation built up for a meeting between the finance ministers of the Group of Twenty. The meeting, which started today, is closely watched by the market in search for hints of the positions […]
Read more
March 172017
USD/JPY Declines After Release of US Consumer Confidence data
The USD/JPY currency pair today declined significantly after the release of the University of Michigan preliminary consumer confidence index, which indicated that the headline index had beat expectations. Despite the strong data from the US, the US dollar continued to perform poorly against the Japanese yen for the better part of the day. The US Dollar demonstrated mixed results against most of its main peers such as the British pound and the euro, yet it was […]
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March 172017
USD/JPY Declines After Release of US Consumer Confidence data
The USD/JPY currency pair today declined significantly after the release of the University of Michigan preliminary consumer confidence index, which indicated that the headline index had beat expectations. Despite the strong data from the US, the US dollar continued to perform poorly against the Japanese yen for the better part of the day. The US Dollar demonstrated mixed results against most of its main peers such as the British pound and the euro, yet it was […]
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March 172017
Sterling Tries to Hold onto Gains Caused by BoE Statement
The Great Britain pound was mixed during Friday’s trading session, but mostly held onto yesterday’s gains caused by the unexpectedly hawkish policy statement released by the Bank of England. Yesterday’s policy statement was surprisingly hawkish, and there was even one dissenter who voted for raising interest rates immediately at the March meeting. It might seem strange for policy makers to consider monetary tightening after domestic economic data […]
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March 172017
Sterling Tries to Hold onto Gains Caused by BoE Statement
The Great Britain pound was mixed during Friday’s trading session, but mostly held onto yesterday’s gains caused by the unexpectedly hawkish policy statement released by the Bank of England. Yesterday’s policy statement was surprisingly hawkish, and there was even one dissenter who voted for raising interest rates immediately at the March meeting. It might seem strange for policy makers to consider monetary tightening after domestic economic data […]
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March 172017
New Zealand Dollar Rallies Following Manufacturing Report
The New Zealand dollar climbed today thanks to the positive manufacturing report released overnight and the supportive general market sentiment. The BusinessNZ Performance of Manufacturing Index rose from 52.2 to 55.2 in February. The increase followed January’s dip, which was likely caused by seasonal factors. The New Zealand currency gained after the report, getting support also from the traders’ risk-positive mood caused the surprisingly dovish policy statement from the Federal Reserve. […]
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March 172017
New Zealand Dollar Rallies Following Manufacturing Report
The New Zealand dollar climbed today thanks to the positive manufacturing report released overnight and the supportive general market sentiment. The BusinessNZ Performance of Manufacturing Index rose from 52.2 to 55.2 in February. The increase followed January’s dip, which was likely caused by seasonal factors. The New Zealand currency gained after the report, getting support also from the traders’ risk-positive mood caused the surprisingly dovish policy statement from the Federal Reserve. […]
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