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Day: June 7, 2017
June 72017
EUR/USD Attempts to Bounce After Drop on ECB Rumor
EUR/USD dropped today due to the rumor that the European Central Bank will lower its inflation forecast at the next policy meeting. The ECB will meet tomorrow, and markets were hoping for a hawkish policy statement after the gathering. Yet if the rumor proves true, the central bank will likely maintain its dovish stance. The currency has bounced by now and is attempting to reverse the decline on the back of the disappointing US consumer credit […]
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June 72017
Pound Logs Gains Ahead of Thursday’s Election
The Great Britain pound rose today even as markets remained cautious ahead of tomorrow’s general election, which may have a tremendous impact on the currency, and not necessarily a positive one. Opinion polls remained divided over the outcome of the voting. While some polls were promising a strong (though narrowing) lead of the ruling Conservative party, others showed that neither the Tories, nor the Labour party will get a majority, resulting in a hung […]
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June 72017
Pound Logs Gains Ahead of Thursday’s Election
The Great Britain pound rose today even as markets remained cautious ahead of tomorrow’s general election, which may have a tremendous impact on the currency, and not necessarily a positive one. Opinion polls remained divided over the outcome of the voting. While some polls were promising a strong (though narrowing) lead of the ruling Conservative party, others showed that neither the Tories, nor the Labour party will get a majority, resulting in a hung […]
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June 72017
US Dollar Drops Against Japanese Yen as Caution Spreads Between Traders
The US dollar traded near its lowest level against the Japanese yen in more than seven weeks on Wednesday as a cautionary mood took over the market. Traders are anticipating a vote in the United Kingdom, a monetary policy decision from the European Central Bank, and a testimony connected to Donald Trumpâs ties with Russia. Polling stations across the United Kingdom will begin receiving voters tomorrowâs morning for a snap general election that […]
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June 72017
US Dollar Drops Against Japanese Yen as Caution Spreads Between Traders
The US dollar traded near its lowest level against the Japanese yen in more than seven weeks on Wednesday as a cautionary mood took over the market. Traders are anticipating a vote in the United Kingdom, a monetary policy decision from the European Central Bank, and a testimony connected to Donald Trumpâs ties with Russia. Polling stations across the United Kingdom will begin receiving voters tomorrowâs morning for a snap general election that […]
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June 72017
EUR/USD Trades Lower on Rumors Regarding the ECB’s Inflation Forecast
The EUR/USD currency pair today retreated from its daily highs based on rumors that the European Central Bank would downgrade its inflation forecast at tomorrow’s meeting. The currency pair had risen to a new daily high earlier in the day’s session despite the soft German data released by the Federal Statistical Office, but quickly retraced most of its gains due to the rumor. The currency pair lost over 70 points at the height […]
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June 72017
EUR/USD Trades Lower on Rumors Regarding the ECB’s Inflation Forecast
The EUR/USD currency pair today retreated from its daily highs based on rumors that the European Central Bank would downgrade its inflation forecast at tomorrow’s meeting. The currency pair had risen to a new daily high earlier in the day’s session despite the soft German data released by the Federal Statistical Office, but quickly retraced most of its gains due to the rumor. The currency pair lost over 70 points at the height […]
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June 72017
Japanese Yen Extends Rally as Traders Brace for Super Thursday
There will be several important events tomorrow, prompting market participants to call the day Super Thursday. With no way to know the outcome of those events, traders preferred to buy safe assets. That allowed the Japanese yen to extend yesterday’s rally, though the currency was rising with slower pace. Tomorrow, markets will see three key events: the testimony of former FBI chief James Comey, the general election […]
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June 72017
Japanese Yen Extends Rally as Traders Brace for Super Thursday
There will be several important events tomorrow, prompting market participants to call the day Super Thursday. With no way to know the outcome of those events, traders preferred to buy safe assets. That allowed the Japanese yen to extend yesterday’s rally, though the currency was rising with slower pace. Tomorrow, markets will see three key events: the testimony of former FBI chief James Comey, the general election […]
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June 72017
Australian Dollar Gets Help from GDP & Construction Reports
The Australian dollar gained today, rising for the fourth consecutive session against the US dollar and the euro, as reports about economic growth and the construction sector were beneficial to the currency. Australia’s gross domestic product rose 0.3% in the March quarter from the previous three months on a seasonally adjusted basis. While it was a noticeable slowdown from the previous quarter’s 1.1% growth, the actual figure was better than predicted 0.2%. The Australian Industry […]
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