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Day: April 18, 2017
April 182017
US Dollar Drops Against Euro as Housing Data Disappoints
The US dollar weakened against the euro and the British pound among other major currencies on Tuesday, as geopolitical developments around the globe continued to weigh on the US currency. Economic data in the United States failed to support the greenback today, as a new housing report painted a mixed picture of the real estate market. Global geopolitical factors continued to be out of favor for the greenback today. The dollar plummeted against the British pound following a surprising call for a general […]
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April 182017
EUR/USD Rallies as US Economic Data Misses Expectations
EUR/USD rallied today as US macroeconomic reports failed to meet expectations. Not all of them were bad, but that did not prevent the currency pair from rising. Housing starts were at the seasonally adjusted annual rate of 1.22 million in March. That is below the medium forecast of 1.25 million and the previous month’s rate of 1.30 million. Building permits were at the seasonally adjusted annual rate of 1.26 million, close […]
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April 182017
Euro Rallies Higher Against US Dollar Despite Looming French Elections
The euro rallied higher against the US dollar today despite the uncertainty surrounding the upcoming French Presidential elections. The euro’s rally entered the second day as the selling pressure on the US dollar keeps rising due to disappointment with the Trump trade. The currency pair had gained over 50 points at the height of its rally and was on a rising trend at the time of writing. The euro’s rally appears to be triggered by the VSTOXX index, which tracks the volatility of European […]
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April 182017
Pound Soars After Theresa May Shocks Markets with Election Announcement
The Great Britain pound jumped today after Britain’s Prime Minister Theresa May made a surprise announcement that general elections will happen in June. May shocked markets by announcing that a snap general election will be held on June 8. The voting was originally scheduled to happen in 2020. That was a total surprise as the Prime Minister was repeatedly saying that she does not plan early elections. […]
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April 182017
Australian Dollar Drops Against US Dollar upon Release of RBA Minutes
The Australian dollar dropped significantly against the US dollar after the release of the minutes of Reserve Bank of Australia, which hinted at a dovish outlook. The RBA minutes indicated that the bank was worried about Australia’s weak labor market as evidenced by high unemployment rates and the increasing risks in the housing market. The AUD/USD had lost over 50 points at the time of writing as the selling pressure on the Aussie stabilised. There was subdued price action around […]
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April 182017
Australian Dollar Drops Against US Dollar upon Release of RBA Minutes
The Australian dollar dropped significantly against the US dollar after the release of the minutes of Reserve Bank of Australia, which hinted at a dovish outlook. The RBA minutes indicated that the bank was worried about Australia’s weak labor market as evidenced by high unemployment rates and the increasing risks in the housing market. The AUD/USD had lost over 50 points at the time of writing as the selling pressure on the Aussie stabilised. There was subdued price action around […]
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