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Day: May 16, 2017
May 162017
EUR/USD at Highest Since November
EUR/USD rallied today, jumping to the highest level since November. There were plenty of reasons for the rally. Allegations of US President Donald Trump revealing intelligence secrets to Russia caused worries and hurt the appeal of the dollar. US housing data failed to meet expectations, damaging the currency further. Meanwhile, both economic and political news from eurozone were favorable to the euro. EUR/USD halted its rally, though, after US industrial production […]
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May 162017
Japanese Yen Rallies Against US Dollar on Weak US Housing Starts Data
The USD/JPY currency pair rallied higher during the European session, reversing the gains made by the Japanese yen after a speech by Bank of Japan Governor, Haruhiko Kuroda. However, the pair erased most of its gains during the American session after the release of weak US housing starts data. The currency pair rallied higher during the European session to hit a high of 113.72 at 11:00 GMT. However, the pair reversed its gains and sunk to new […]
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May 162017
Japanese Yen Rallies Against US Dollar on Weak US Housing Starts Data
The USD/JPY currency pair rallied higher during the European session, reversing the gains made by the Japanese yen after a speech by Bank of Japan Governor, Haruhiko Kuroda. However, the pair erased most of its gains during the American session after the release of weak US housing starts data. The currency pair rallied higher during the European session to hit a high of 113.72 at 11:00 GMT. However, the pair reversed its gains and sunk to new […]
Read more
May 162017
Trump Worries Hit Dollar Yet Again
The US dollar was trading broadly lower today after US President Donald Trump appeared in the center of yet another scandal. Mixed macroeconomic indicators were of little help to the besieged currency. Some US officials claimed that Trump leaked sensitive intelligence data to Russia. The President defended his actions, saying he has an “absolute right” to share information that may help to fight terrorism. Yet coupled with […]
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May 162017
Trump Worries Hit Dollar Yet Again
The US dollar was trading broadly lower today after US President Donald Trump appeared in the center of yet another scandal. Mixed macroeconomic indicators were of little help to the besieged currency. Some US officials claimed that Trump leaked sensitive intelligence data to Russia. The President defended his actions, saying he has an “absolute right” to share information that may help to fight terrorism. Yet coupled with […]
Read more
May 162017
Euro Surges on Economic Data & Merkel’s Victory
The euro surged today against its major peers after the release of relatively positive macroeconomic data from the eurozone. Subsiding fears about Europe’s political issues were also helping the currency. Eurozone gross domestic product rose 0.5% in the first quarter of this year, the same as in the previous three months and withing expectations. The ZEW Indicator of Economic Sentiment for Germany went up from 19.5 to 20.6 in May. While it was […]
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May 162017
Euro Surges on Economic Data & Merkel’s Victory
The euro surged today against its major peers after the release of relatively positive macroeconomic data from the eurozone. Subsiding fears about Europe’s political issues were also helping the currency. Eurozone gross domestic product rose 0.5% in the first quarter of this year, the same as in the previous three months and withing expectations. The ZEW Indicator of Economic Sentiment for Germany went up from 19.5 to 20.6 in May. While it was […]
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May 162017
Aussie Down After RBA Minutes & Oil Prices Rise
The Reserve Bank of Australia released minutes of its May policy meeting today, though they did not reveal anything particularly new. With no major news to drive the Australian dollar, the currency was moving down. The RBA said in the notes: The Board continued to judge that developments in the labour and housing markets warranted careful monitoring. With uncertainties surrounding those two important sectors, the central bank had no […]
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May 162017
Aussie Down After RBA Minutes & Oil Prices Rise
The Reserve Bank of Australia released minutes of its May policy meeting today, though they did not reveal anything particularly new. With no major news to drive the Australian dollar, the currency was moving down. The RBA said in the notes: The Board continued to judge that developments in the labour and housing markets warranted careful monitoring. With uncertainties surrounding those two important sectors, the central bank had no […]
Read more
May 162017
Great Britain Pound Fails to Capitalize on Positive UK Data
Macroeconomic reports released from the United Kingdom today were almost universally good, including the most important of them — the Consumer Price Index. The Great Britain pound attempted to rally against the US dollar on the back of the good data but failed to maintain the upward momentum. The sterling did not even attempt to rise against such currencies as the euro and the Swiss franc. The CPI rose 2.7% in April, year-on-year, beating the analysts’ median estimate […]
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