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Day: June 14, 2017
June 142017
EUR/USD Halts Rally After FOMC Interest Rate Hike
EUR/USD rallied today as data about inflation and retail sales came out unexpectedly bad. The Federal Open Market Committee raised the main interest rate and predicted one more hike in 2017, staying in line with the previous forecasts. Considering that many market participants were expecting FOMC to revise the projected dot path down, the announcement looked very bullish to the dollar. The EUR/USD currency pair halted the rally after the news, […]
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June 142017
US Dollar Plunges as Retail Sales and Inflation Data Signals Economic Weakness
The US dollar plunged against the euro, the British pound, and other major currencies on Wednesday, following a stream of lackluster data that signaled a weaker economy than analysts expected. Disappointing inflation and retail sales numbers today reduced optimism between traders ahead of manufacturing and housing data later this week. Todayâs data came hours before the Federal Open Market Committee releases its latest monetary policy decision. The committee […]
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June 142017
US Dollar Plunges as Retail Sales and Inflation Data Signals Economic Weakness
The US dollar plunged against the euro, the British pound, and other major currencies on Wednesday, following a stream of lackluster data that signaled a weaker economy than analysts expected. Disappointing inflation and retail sales numbers today reduced optimism between traders ahead of manufacturing and housing data later this week. Todayâs data came hours before the Federal Open Market Committee releases its latest monetary policy decision. The committee […]
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June 142017
British Pound Rallies Against US Dollar on Weak US Inflation Data
The GBP/USD currency pair rallied higher today during the North American session after the release of weak US Consumer Price Index data for the month of May. The currency pair started the European session on a downward trend after the release of weak UK average weekly earnings data, but quickly rallied higher after the release of the disappointing US data. The currency pair gained over 80 points at the height of its rally to post new […]
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June 142017
British Pound Rallies Against US Dollar on Weak US Inflation Data
The GBP/USD currency pair rallied higher today during the North American session after the release of weak US Consumer Price Index data for the month of May. The currency pair started the European session on a downward trend after the release of weak UK average weekly earnings data, but quickly rallied higher after the release of the disappointing US data. The currency pair gained over 80 points at the height of its rally to post new […]
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June 142017
NZ Dollar Gains Despite Surging Current Account Deficit
The New Zealand dollar gained today, ignoring the surging current account deficit. That means that the currency was driven by outside factors. New Zealand’s current account posted a deficit of NZ$2.84 billion in the March quarter of this year, an increase by NZ$1.14 billion from the previous three months. It was the biggest deficit since the financial crisis in 2008. Yet the New Zealand dollar ignored negative domestic data, most likely […]
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June 142017
NZ Dollar Gains Despite Surging Current Account Deficit
The New Zealand dollar gained today, ignoring the surging current account deficit. That means that the currency was driven by outside factors. New Zealand’s current account posted a deficit of NZ$2.84 billion in the March quarter of this year, an increase by NZ$1.14 billion from the previous three months. It was the biggest deficit since the financial crisis in 2008. Yet the New Zealand dollar ignored negative domestic data, most likely […]
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June 142017
Aussie Ignores Negative Domestic Data with Help from China’s Reports
The Australian dollar rallied today despite unfavorable domestic macroeconomic data. A possible reason for the rally was economic data released in China, which was rather good. The Westpac Melbourne Institute Index of Consumer Sentiment fell 1.8% in June in May. Meanwhile, the National Bureau of Statistics of China reported that industrial production expanded 6.5% in May from the previous year, the same as in the preceding month and slightly above the median forecast of 6.4%. Other […]
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June 142017
Aussie Ignores Negative Domestic Data with Help from China’s Reports
The Australian dollar rallied today despite unfavorable domestic macroeconomic data. A possible reason for the rally was economic data released in China, which was rather good. The Westpac Melbourne Institute Index of Consumer Sentiment fell 1.8% in June in May. Meanwhile, the National Bureau of Statistics of China reported that industrial production expanded 6.5% in May from the previous year, the same as in the preceding month and slightly above the median forecast of 6.4%. Other […]
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