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Day: March 29, 2017
March 292017
Euro Retreats as Outlook for ECB Monetary Policy Becomes More Dovish
The euro became weaker against the US dollar and the British pound on Wednesday, following a report that raised expectations of a more dovish stance from the European Central Bank. In a statement that followed the European Central Bankâs latest policy meeting that was concluded on March 9, the central bank appeared to signal a hawkish position from its monetary policy. ECB President Mario Draghi chose a less dovish tone in a press conference […]
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March 292017
Euro Retreats as Outlook for ECB Monetary Policy Becomes More Dovish
The euro became weaker against the US dollar and the British pound on Wednesday, following a report that raised expectations of a more dovish stance from the European Central Bank. In a statement that followed the European Central Bankâs latest policy meeting that was concluded on March 9, the central bank appeared to signal a hawkish position from its monetary policy. ECB President Mario Draghi chose a less dovish tone in a press conference […]
Read more
March 292017
EUR/USD Moves Lower as US Pending Home Sales Jump
EUR/USD extended its drop for a second day today as the US economy continued to show signs of robust growth. This time it was a housing market that helped the dollar, showing an unexpectedly big jump of pending home sales. Pending home sales jumped 5.5% in February from January, demonstrating an increase that was more than two times bigger than the forecast growth of 2.3%. The sales were down 2.8% […]
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March 292017
US Dollar Rallies Following the Release of Positive Pending Home Sales Data
The US dollar today rallied against its main peers following the release of positive pending home sales data, which beat expectations. The US dollar rallied higher despite the poor performance of the bond market as US bond yields and the Dow Jones Industrial Average fell to record lows during today’s session. The greenback’s rally was reflected in the US Dollar Index, which opened the day’s session at 99.70 and was trading at 100.08 at the time […]
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March 292017
US Dollar Rallies Following the Release of Positive Pending Home Sales Data
The US dollar today rallied against its main peers following the release of positive pending home sales data, which beat expectations. The US dollar rallied higher despite the poor performance of the bond market as US bond yields and the Dow Jones Industrial Average fell to record lows during today’s session. The greenback’s rally was reflected in the US Dollar Index, which opened the day’s session at 99.70 and was trading at 100.08 at the time […]
Read more
March 292017
Rand Falls as Markets Expect Gordhan to Leave Office
The South African Rand dropped today amid speculations that Finance Minister Pravin Gordhan will leave his office. There are speculations that President Jacob Zuma is going to fire Gordhan. It was not a secret that the President and the Finance Minister were in conflict. Markets liked Gordhan, considering him an emblem of stability, therefore prospects for the minister leaving his post made investors nervous. USD/ZAR rose […]
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March 292017
Rand Falls as Markets Expect Gordhan to Leave Office
The South African Rand dropped today amid speculations that Finance Minister Pravin Gordhan will leave his office. There are speculations that President Jacob Zuma is going to fire Gordhan. It was not a secret that the President and the Finance Minister were in conflict. Markets liked Gordhan, considering him an emblem of stability, therefore prospects for the minister leaving his post made investors nervous. USD/ZAR rose […]
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March 292017
Sterling Soft as Markets Prepare for Brexit
Markets wait for formal initiation of the Brexit process on Wednesday. The Great Britain pound fell during the current trading session due to uncertainty associated with the Brexit, but has trimmed its losses as of now. Britain’s Prime Minister Theresa May has signed a letter that officially triggers Article 50, initiating the process of the United Kingdom’s exit from the European Union. The paperwork will be delivered to European Council President Donald […]
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March 292017
Sterling Soft as Markets Prepare for Brexit
Markets wait for formal initiation of the Brexit process on Wednesday. The Great Britain pound fell during the current trading session due to uncertainty associated with the Brexit, but has trimmed its losses as of now. Britain’s Prime Minister Theresa May has signed a letter that officially triggers Article 50, initiating the process of the United Kingdom’s exit from the European Union. The paperwork will be delivered to European Council President Donald […]
Read more