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Day: May 11, 2017
May 112017
EUR/USD Again Fails to Rally
EUR/USD attempted to rally today but was unable to keep gains, similar to its performance during the previous trading session. This time, though, the reason for the decline was clearer. The currency pair dropped as US macroeconomic indicators were unexpectedly good, increasing the appeal of the US dollar to investors. PPI rose 0.5% in April. That was a better reading than a 0.2% increase predicted by analysts, let alone the 0.1% drop registered […]
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May 112017
Euro Weakens Against US Dollar on Upbeat US Data
The EUR/USD currency pair today hit new session lows as the single currency weakened against the greenback on positive US data. The euro weakened against the US dollar upon the release of positive producer price index data by the Bureau of Labor Statistics, and the release of positive initial jobless claims data, and initial jobless claims data released by the Department of Labor. The currency pair lost over 50 points from its daily high and is on track to close […]
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May 112017
Euro Weakens Against US Dollar on Upbeat US Data
The EUR/USD currency pair today hit new session lows as the single currency weakened against the greenback on positive US data. The euro weakened against the US dollar upon the release of positive producer price index data by the Bureau of Labor Statistics, and the release of positive initial jobless claims data, and initial jobless claims data released by the Department of Labor. The currency pair lost over 50 points from its daily high and is on track to close […]
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May 112017
US Dollar Touches Highest Level in 3 Weeks Against Euro Before Giving up Gains
The US dollar advanced to the strongest level in 3 weeks against the euro on Thursday as traders felt more confident about the outlook of the US economic growth. Data released earlier today painted a positive image of the economy, which improved expectations of an interest rate hike from the Federal Reserve in June. The US Bureau of Labor Statistics released a report at 12:30 GMT today, which said that the producer price index rose by a seasonally adjusted […]
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May 112017
US Dollar Touches Highest Level in 3 Weeks Against Euro Before Giving up Gains
The US dollar advanced to the strongest level in 3 weeks against the euro on Thursday as traders felt more confident about the outlook of the US economic growth. Data released earlier today painted a positive image of the economy, which improved expectations of an interest rate hike from the Federal Reserve in June. The US Bureau of Labor Statistics released a report at 12:30 GMT today, which said that the producer price index rose by a seasonally adjusted […]
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May 112017
Loonie Weakens After Moody’s Downgrades Canada’s Banks
The Canadian dollar traded lower against its major counterparts today as the credit rating downgrade of six Canadian banks by Moody’s Investors Service damaged the attractiveness of the currency to investors. Moody’s reduced ratings of such banks as Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, and Royal Bank of Canada. The rating agency cited following reasons for its decision: Today’s downgrade of the Canadian banks […]
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May 112017
Loonie Weakens After Moody’s Downgrades Canada’s Banks
The Canadian dollar traded lower against its major counterparts today as the credit rating downgrade of six Canadian banks by Moody’s Investors Service damaged the attractiveness of the currency to investors. Moody’s reduced ratings of such banks as Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, and Royal Bank of Canada. The rating agency cited following reasons for its decision: Today’s downgrade of the Canadian banks […]
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May 112017
New Zealand Dollar Tumbles After RBNZ Policy Meeting
The New Zealand dollar slumped today, tumbling more than 1% against its most-traded peers, after the monetary policy statement released by the central bank turned out to be not so hawkish as market participants had expected. The Reserve Bank of New Zealand left its main interest rate at 1.75% today, in line with expectations. The statement, while not necessarily dovish, was not as optimistic as economists had anticipated. […]
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May 112017
New Zealand Dollar Tumbles After RBNZ Policy Meeting
The New Zealand dollar slumped today, tumbling more than 1% against its most-traded peers, after the monetary policy statement released by the central bank turned out to be not so hawkish as market participants had expected. The Reserve Bank of New Zealand left its main interest rate at 1.75% today, in line with expectations. The statement, while not necessarily dovish, was not as optimistic as economists had anticipated. […]
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May 112017
Great Britain Pound Weak Ahead of BoE Meeting
The Great Britain pound traded lower ahead of Bank of England policy meeting that will occur later today. The reason for the currency’s drop was the streak of rather weak macroeconomic indicators. UK industrial production fell 0.5% in March from February, a bit more than analysts had predicted (0.4%). Manufacturing production declined 0.6%, also more than was forecast (0.2%). Construction output was also down in March, […]
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