Day: March 22, 2017

March 22
2017

EUR/USD Bounces After US Existing Home Sales Miss Expectations

EUR/USD was down intraday but has bounced to trade above the opening level as of now. One of reasons for that were US existing home sales that failed to meet market expectations. The US currency was also under pressure from concerns that US President Donald Trump may not have enough power to fulfill his election promises of tax cuts and infrastructure spending. Existing home sales dropped […]

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March 22
2017

EUR/USD Rallies After Release of the Eurozone’s Current Account Balance

The EUR/USD currency pair rallied briefly earlier today after the release of the Eurozone’s current account balance, which recorded a minimal surplus, by the European Central Bank. The euro was stronger even as the US dollar came under renewed selling pressure during the early North American session. The currency pair gained at least 50 points at the peak of its rally before retracing some of its gains to trade much lower at the time of writing. […]

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March 22
2017

EUR/USD Rallies After Release of the Eurozone’s Current Account Balance

The EUR/USD currency pair rallied briefly earlier today after the release of the Eurozone’s current account balance, which recorded a minimal surplus, by the European Central Bank. The euro was stronger even as the US dollar came under renewed selling pressure during the early North American session. The currency pair gained at least 50 points at the peak of its rally before retracing some of its gains to trade much lower at the time of writing. […]

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March 22
2017

US Dollar Weakens as Doubts Grow Against Trump Tax and Spending Plans

The US dollar weakened on Wednesday against the euro and the British pound, and touched its lowest level against the Japanese yen in four months. Doubts grew between investors toward the promises of President Donald Trump to cut corporate taxes and raise infrastructure spending, which have weighed on the greenback. The US dollar had touched its highest level against the euro since 2002 in December 2016, in a rally that stemmed from Trump’s victory […]

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March 22
2017

US Dollar Weakens as Doubts Grow Against Trump Tax and Spending Plans

The US dollar weakened on Wednesday against the euro and the British pound, and touched its lowest level against the Japanese yen in four months. Doubts grew between investors toward the promises of President Donald Trump to cut corporate taxes and raise infrastructure spending, which have weighed on the greenback. The US dollar had touched its highest level against the euro since 2002 in December 2016, in a rally that stemmed from Trump’s victory […]

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March 22
2017

AUD/JPY at Lowest Since January

The Australian dollar dropped during the current trading session, reaching the lowest level in more than two months against the Japanese yen. Both domestic and overseas fundamentals contributed to the drop of the currency. The Westpac-Melbourne Institute Leading Index fell in February, though the growth momentum remained above trend. Prices for iron ore, Australia’s major export commodity, dropped this week, hurting the Aussie. The market sentiment was also an unfavorable factor for the Australian […]

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March 22
2017

AUD/JPY at Lowest Since January

The Australian dollar dropped during the current trading session, reaching the lowest level in more than two months against the Japanese yen. Both domestic and overseas fundamentals contributed to the drop of the currency. The Westpac-Melbourne Institute Leading Index fell in February, though the growth momentum remained above trend. Prices for iron ore, Australia’s major export commodity, dropped this week, hurting the Aussie. The market sentiment was also an unfavorable factor for the Australian […]

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March 22
2017

Yen Climbs vs. Dollar to Highest in Four Months

The Japanese yen rallied today, reaching the highest level since November against the US dollar. The currency got boost from both domestic fundamentals and the cautious general market sentiment. Japan’s seasonally adjusted trade surplus climbed from ¥0.20 trillion in January to ¥0.68 trillion in February, exceeding analysts’ forecasts. The seasonally adjusted index for all industries activity rose 0.1% in January, in line with expectations. The Bank of Japan released minutes […]

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March 22
2017

Yen Climbs vs. Dollar to Highest in Four Months

The Japanese yen rallied today, reaching the highest level since November against the US dollar. The currency got boost from both domestic fundamentals and the cautious general market sentiment. Japan’s seasonally adjusted trade surplus climbed from ¥0.20 trillion in January to ¥0.68 trillion in February, exceeding analysts’ forecasts. The seasonally adjusted index for all industries activity rose 0.1% in January, in line with expectations. The Bank of Japan released minutes […]

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