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Day: June 9, 2017
June 92017
British Pound Holds Losses as Mixed Data Adds to Disappointing Election Results
The British pound remained weak on Friday as the currency held to most of the losses it had yesterday. Todayâs data, which was largely mixed, made the British pound incapable of finding support in economic releases at a time when politicians in the United Kingdom failed to reach unity. A snap general election was held in the United Kingdom on Thursday following a call by Prime Minister Theresa May last April, which was supported by 522 to 13 […]
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June 92017
British Pound Holds Losses as Mixed Data Adds to Disappointing Election Results
The British pound remained weak on Friday as the currency held to most of the losses it had yesterday. Todayâs data, which was largely mixed, made the British pound incapable of finding support in economic releases at a time when politicians in the United Kingdom failed to reach unity. A snap general election was held in the United Kingdom on Thursday following a call by Prime Minister Theresa May last April, which was supported by 522 to 13 […]
Read more
June 92017
EUR/USD Maintains Decline on Friday After Thursday’s Testimony of James Comey
EUR/USD dropped today, extending yesterday’s decline. The currency pair fell on Thursday after the long-awaited testimony of former FBI chief James Comey to the Senate did not bring any significant revelations, causing the US dollar to gain on other currencies. Yesterday’s policy announcement from the European Central Bank also caused a drop of the euro versus the dollar. As for economic data from the United States, the previous and the current trading sessions was very […]
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June 92017
Canadian Dollar Rallies Against US Dollar on Positive Jobs Report
The Canadian dollar today gained significantly against the US dollar after the release of Canada’s labor market report by Statistics Canada, which exceeded expectations. The loonie rallied against the greenback despite the fact that the greenback was performing quite well as tracked by the US Dollar Index. The USD/CAD currency pair plunged to new session lows losing over 90 points in a span of two hours after the release of the jobs report. The Canadian dollar […]
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June 92017
Canadian Dollar Rallies Against US Dollar on Positive Jobs Report
The Canadian dollar today gained significantly against the US dollar after the release of Canada’s labor market report by Statistics Canada, which exceeded expectations. The loonie rallied against the greenback despite the fact that the greenback was performing quite well as tracked by the US Dollar Index. The USD/CAD currency pair plunged to new session lows losing over 90 points in a span of two hours after the release of the jobs report. The Canadian dollar […]
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June 92017
Euro Loses Ground Against the US Dollar on Dovish ECB and UK Election Results
The euro today lost significant ground against the US dollar to test new lows for the third day in a row after yesterday’s dovish outlook from the European Central Bank. The currency pair’s decline was also caused by the stronger US dollar after yesterday’s UK general election, which resulted in a hung parliament, as no party won a majority. The currency pair lost about 40 points from its peak during today’s […]
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June 92017
Euro Loses Ground Against the US Dollar on Dovish ECB and UK Election Results
The euro today lost significant ground against the US dollar to test new lows for the third day in a row after yesterday’s dovish outlook from the European Central Bank. The currency pair’s decline was also caused by the stronger US dollar after yesterday’s UK general election, which resulted in a hung parliament, as no party won a majority. The currency pair lost about 40 points from its peak during today’s […]
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June 92017
Great Britain Pound Posts Heavy Losses as Hung Parliament Becomes Reality
The Great Britain pound experienced heavy losses during the Asian trading session on Friday after Britain’s snap election resulted in the worst possible outcome — a hung parliament. UK Prime Minister Theresa May announced a snap election in a bid to consolidate the power and strengthen her positions in Brexit negotiations with the European Union. That looked a reasonable move at first as initially polls were showing a tremendous support for May’s Conservative party. Yet […]
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June 92017
Great Britain Pound Posts Heavy Losses as Hung Parliament Becomes Reality
The Great Britain pound experienced heavy losses during the Asian trading session on Friday after Britain’s snap election resulted in the worst possible outcome — a hung parliament. UK Prime Minister Theresa May announced a snap election in a bid to consolidate the power and strengthen her positions in Brexit negotiations with the European Union. That looked a reasonable move at first as initially polls were showing a tremendous support for May’s Conservative party. Yet […]
Read more