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Day: June 29, 2017
June 292017
US Dollar Extends Decline Against Major Currencies Despite Positive GDP Data
The US dollar extended a drop against the euro on Thursday, despite data that revealed the US economy was stronger than previously estimated in the first quarter of 2017. An index that tracks the strength of the greenback against other main counterparts touched its weakest level today since October 2016 as the US currency continued to tumble lower. According to a fresh report from the Bureau of Economic Analysis, higher consumer spending and stronger exports […]
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June 292017
US Dollar Extends Decline Against Major Currencies Despite Positive GDP Data
The US dollar extended a drop against the euro on Thursday, despite data that revealed the US economy was stronger than previously estimated in the first quarter of 2017. An index that tracks the strength of the greenback against other main counterparts touched its weakest level today since October 2016 as the US currency continued to tumble lower. According to a fresh report from the Bureau of Economic Analysis, higher consumer spending and stronger exports […]
Read more
June 292017
EUR/USD Rallies Undeterred by Positive Revision to US GDP
EUR/USD gained today, rising for the third consecutive day, undeterred by the positive revision to the first quarter’s US gross domestic product. US GDP rose 1.4% in Q1 2017 while experts predicted the growth to be the same as in the preliminary reading — 1.2%. GDP increased 2.1% in Q4 2017. (Event A on the chart.) Initial jobless claims were at the seasonally adjusted rate of 244k last week. That is compared to the previous week’s revised level […]
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June 292017
Yen Trims Initial Losses on Thursday
The Japanese yen fell against its major peers during the Thursday’s trading session but managed to trim its losses by now and even erased them completely versus the US dollar. Bank of Japan board member Yutaka Harada signaled today that the central bank may reduce buying of exchange-traded funds if inflation reaches the bank’s target of 2%: The BOJ is buying ETFs to stimulate the economy and achieve its 2 […]
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June 292017
Yen Trims Initial Losses on Thursday
The Japanese yen fell against its major peers during the Thursday’s trading session but managed to trim its losses by now and even erased them completely versus the US dollar. Bank of Japan board member Yutaka Harada signaled today that the central bank may reduce buying of exchange-traded funds if inflation reaches the bank’s target of 2%: The BOJ is buying ETFs to stimulate the economy and achieve its 2 […]
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June 292017
CAD Touches Highest Since February vs. USD
The Canadian dollar gained against its US counterpart today, reaching the highest level since February. The currency trimmed its gains by now, though, and fell versus other most-traded peers. Stephen Poloz, Bank of Canada Governor, made hawkish remarks yesterday, leading to speculations that the BoC is going to hike interest rates later this year. It looks like central banks around the world are changing there […]
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June 292017
CAD Touches Highest Since February vs. USD
The Canadian dollar gained against its US counterpart today, reaching the highest level since February. The currency trimmed its gains by now, though, and fell versus other most-traded peers. Stephen Poloz, Bank of Canada Governor, made hawkish remarks yesterday, leading to speculations that the BoC is going to hike interest rates later this year. It looks like central banks around the world are changing there […]
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June 292017
GBP/USD Maintains Gains Despite Positive US GDP Data
The GBP/USD currency pair today maintained the gains made during the early European session despite the release of positive US GDP data mid-European session. The currency pair had rallied to a new yearly top during the early European section before dovish comments from Bank of England Chief Economist Andrew Haldane caused the cable to briefly decline. The currency pair gained over 60 points at the height of its rally to hit a yearly […]
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June 292017
GBP/USD Maintains Gains Despite Positive US GDP Data
The GBP/USD currency pair today maintained the gains made during the early European session despite the release of positive US GDP data mid-European session. The currency pair had rallied to a new yearly top during the early European section before dovish comments from Bank of England Chief Economist Andrew Haldane caused the cable to briefly decline. The currency pair gained over 60 points at the height of its rally to hit a yearly […]
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June 292017
Euro Declines Against US Dollar Despite Positive German CPI Data
The euro today declined against the US dollar despite the release of positive German CPI data as the US dollar rallied higher. The EUR/USD currency pair decline was further exacerbated by the release of positive US GDP data mid-European session. The currency pair lost over 20 points at the height of its decline, but had retraced some of its losses at the time of writing. The EUR/USD pair rallied higher during the Asian session to hit […]
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