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Day: June 23, 2017
June 232017
EUR/USD Rallies After Markit PMIs Miss Expectations
EUR/USD rallied today after Markit released indicators for US manufacturing and services, which showed an unexpected drop. Better-than-expected housing data did not affect the currency pair much. Markit released a flash report for manufacturing and services in June, and both indicators missed expectations. Manufacturing PMI fell from 52.7 to 52.1, whereas experts predicted an increase to 53.1. Services PMI declined from 53.6 to 53.0 instead of rising to 53.9 as was […]
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June 232017
Pound Rises on Interest Rate Hike Speculations
The Great Britain pound rose today as hawkish comments from policy makers led to speculations about interest rate hikes from the Bank of England in the foreseeable future. Kristin Forbes, voting BoE member who will leave the Monetary Policy Committee at the end of this month, said in yesterday’s speech: The âlift-offâ of UK interest rates should not be delayed any longer. The day before, BoE Chief Economist […]
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June 232017
Pound Rises on Interest Rate Hike Speculations
The Great Britain pound rose today as hawkish comments from policy makers led to speculations about interest rate hikes from the Bank of England in the foreseeable future. Kristin Forbes, voting BoE member who will leave the Monetary Policy Committee at the end of this month, said in yesterday’s speech: The âlift-offâ of UK interest rates should not be delayed any longer. The day before, BoE Chief Economist […]
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June 232017
US Dollar Flounders as PMI Readings Fall Short of Estimate
The US dollar tumbled against major rivals on Friday following the release of lackluster manufacturing activity data and weak new home sales. Tradersâ appetite for the greenback was also affected by anticipation for speeches of Federal Reserve officials today and US inflation data next week. A fresh reading for the IHS Markit manufacturing purchasing managersâ index revealed a drop to 52.1 in June from 52.7 in May, which missed analyst estimates of a reading at 53.0. […]
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June 232017
US Dollar Flounders as PMI Readings Fall Short of Estimate
The US dollar tumbled against major rivals on Friday following the release of lackluster manufacturing activity data and weak new home sales. Tradersâ appetite for the greenback was also affected by anticipation for speeches of Federal Reserve officials today and US inflation data next week. A fresh reading for the IHS Markit manufacturing purchasing managersâ index revealed a drop to 52.1 in June from 52.7 in May, which missed analyst estimates of a reading at 53.0. […]
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June 232017
Canadian Dollar Weakens Against US Counterpart on Weak Inflation Data
The Canadian dollar today weakened against the US dollar after the release of disappointing Canadian inflation data by Statistics Canada. The Consumer Price Index report for the month of May disappointed both on a monthly basis and also on an annualized basis. The USD/CAD currency pair rallied by close to 100 points from its daily low after the release of the inflation report to hit a daily high of 1.3307. The currency pair has since retraced some of its gains. […]
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June 232017
Canadian Dollar Weakens Against US Counterpart on Weak Inflation Data
The Canadian dollar today weakened against the US dollar after the release of disappointing Canadian inflation data by Statistics Canada. The Consumer Price Index report for the month of May disappointed both on a monthly basis and also on an annualized basis. The USD/CAD currency pair rallied by close to 100 points from its daily low after the release of the inflation report to hit a daily high of 1.3307. The currency pair has since retraced some of its gains. […]
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June 232017
Euro Stable After Release of European PMIs
The euro was stable today after the release of Purchasing Managers’ Indexes from Markit Economics. Markit released manufacturing and services PMIs for Germany, France, and the whole eurozone today. For the most part, the manufacturing indexes beat expectations, while the services indexes trailed expectations. It is important to note that all indicators were above the neutral 50.0 level, indicating an expansion. EUR/USD rose from 1.1151 to 1.1166 as of 10:51 GMT today, […]
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June 232017
Euro Stable After Release of European PMIs
The euro was stable today after the release of Purchasing Managers’ Indexes from Markit Economics. Markit released manufacturing and services PMIs for Germany, France, and the whole eurozone today. For the most part, the manufacturing indexes beat expectations, while the services indexes trailed expectations. It is important to note that all indicators were above the neutral 50.0 level, indicating an expansion. EUR/USD rose from 1.1151 to 1.1166 as of 10:51 GMT today, […]
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June 232017
Yen Little Changed After Manufacturing Misses Expectations
The Japanese yen was little changed today after a report from Markit showed that growth of Japan’s manufacturing sector slowed unexpectedly this month. Flash Nikkei Flash Japan Manufacturing PMI fell from 53.1 in May to 52.0 in June. Economists predicted an increase to 53.4. Markit said in the report: Slower growth was signalled in June, with both orders and output rising at the weakest rates […]
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