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Day: June 21, 2017
June 212017
EUR/USD Rallies Despite Positive US Housing Data
US housing data released today was very good, surprising market participants. It followed yesterday’s better-than-expected current account balance. Yet all the good reports did not prevent the dollar falling against the euro. The drop was marginal, though, and the EUR/USD currency pair was still trading lower on the week. Existing home sales rose to the seasonally adjusted annual rate of 5.62 million in May from the downwardly revised […]
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June 212017
US Dollar Trades Within Tight Range Versus Euro Despite Strong Housing Data
The US dollar traded within a tight range against the euro on Wednesday following strong gains earlier this week that were stoked by an improved outlook for higher interest rates in the United States. The greenback edged slightly lower against the shared currency today to erase a gain that followed the release of solid existing home sales this afternoon. A report released by the National Association of Realtors at 14:00 GMT today revealed that existing […]
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June 212017
British Pound Rallies Against US Dollar After Queen Elizabeth’s Speech
The GBP/USD currency pair rallied higher today after Queen Elizabeth‘s speech at the Mansion House during the opening of the UK parliament. The currency pair was also boosted by comments from the Bank of England‘s Chief Economist, Andrew Haldane, who outlined a hawkish view regarding future rate hikes. The currency pair gained over 110 points after the Queen’s and Haldane’s comments, which reversed the selling pressure that had engulfed the cable […]
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