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Day: June 27, 2017
June 272017
US Dollar Plummets Against Euro to Lowest Level Since August Despite Positive Data
The US dollar plummeted against the euro to the lowest level since August 2016, despite a strong reading for consumer confidence that was published earlier today. Tradersâ appetite for the greenback deteriorated in the wake of a speech by European Central Bank President Mario Draghi, which raised confidence in the euro zoneâs economic recovery and supported the shared currency. Consumer confidence improved in June, according to a fresh report released by the Conference Board at 14:00 GMT today. […]
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June 272017
US Dollar Plummets Against Euro to Lowest Level Since August Despite Positive Data
The US dollar plummeted against the euro to the lowest level since August 2016, despite a strong reading for consumer confidence that was published earlier today. Tradersâ appetite for the greenback deteriorated in the wake of a speech by European Central Bank President Mario Draghi, which raised confidence in the euro zoneâs economic recovery and supported the shared currency. Consumer confidence improved in June, according to a fresh report released by the Conference Board at 14:00 GMT today. […]
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June 272017
EUR/USD Surges After Speech of ECB President
EUR/USD surged today after the speech of Mario Draghi, President of the European Central Bank. (Event A on the chart.) Markets considered his comments to be hawkish, that is why the currency pair reacted positively. Good US macroeconomic indicators halted the rally, but EUR/USD was still hanging near the day’s highs. S&P/Case-Shiller home price index rose 5.7% in April, year-on-year, while experts had predicted the same 5.9% increase […]
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June 272017
Canadian Dollar Mixed During Tuesday’s Trading
The Canadian dollar was mixed today, rising versus the US dollar and the Japanese yen, but falling against the euro and the Swiss franc. The loonie got some support from the rising crude oil prices. Futures for crude gained more than 1% in New York as traders were waiting for US supply reports. Looking ahead, there will be a couple of events that can potentially be important for the Canadian currency. Stephen […]
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June 272017
Canadian Dollar Mixed During Tuesday’s Trading
The Canadian dollar was mixed today, rising versus the US dollar and the Japanese yen, but falling against the euro and the Swiss franc. The loonie got some support from the rising crude oil prices. Futures for crude gained more than 1% in New York as traders were waiting for US supply reports. Looking ahead, there will be a couple of events that can potentially be important for the Canadian currency. Stephen […]
Read more
June 272017
Euro Surges in Wake of Draghi Comments on Inflation and Growth Sustainability
The euro surged against the US dollar and the British pound following comments from European Central Bank President Mario Draghi earlier today. Draghiâs remarks reflected a bullish assessment of the recovery in the European Union and revealed confidence in the road ahead for the monetary policy of the region. Speaking at the European Central Bank Forum on Central Banking, which was held in Sintra, Portugal, Draghi said that monetary stimulus needs to be maintained until sustainable […]
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June 272017
Euro Surges in Wake of Draghi Comments on Inflation and Growth Sustainability
The euro surged against the US dollar and the British pound following comments from European Central Bank President Mario Draghi earlier today. Draghiâs remarks reflected a bullish assessment of the recovery in the European Union and revealed confidence in the road ahead for the monetary policy of the region. Speaking at the European Central Bank Forum on Central Banking, which was held in Sintra, Portugal, Draghi said that monetary stimulus needs to be maintained until sustainable […]
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June 272017
British Pound Rallies Higher Against US Dollar on BoE’s Carney Speech
The British pound today rallied higher against the US dollar even after the Bank of England Governor Mark Carney took a slightly dovish tone in his speech. The US dollar was largely weaker against its main peers, which also fueled the rally amid lackluster data reported from the US docket. The currency pair gained about 50 points at the height of its rally as the cable traded in positive territory for the fifth […]
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June 272017
British Pound Rallies Higher Against US Dollar on BoE’s Carney Speech
The British pound today rallied higher against the US dollar even after the Bank of England Governor Mark Carney took a slightly dovish tone in his speech. The US dollar was largely weaker against its main peers, which also fueled the rally amid lackluster data reported from the US docket. The currency pair gained about 50 points at the height of its rally as the cable traded in positive territory for the fifth […]
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June 272017
NZ Dollar Rallies on Trade Data, Loses Gains Later
The New Zealand dollar rallied today following the release of trade data. By now, the currency has almost lost all of its gains and erased them completely against the euro. The New Zealand trade surplus fell to NZ$103 million in May from NZ$536 million in April. Yet the report was not altogether bad as both exports and imports actually rose last month. In fact, exports increased to the highest level since March 2014. […]
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