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Day: July 5, 2017
July 52017
EUR/USD Flat Despite Volatility Caused by FOMC Minutes
EUR/USD demonstrated volatility after the Federal Open Market Committee released minutes of its latest policy meeting. Yet despite the volatile moves, the currency pair was trading almost flat as of now. The notes showed that FOMC members were in favor of gradual reduction of monetary accommodation, but they gave no hints about timing of additional interest rate hikes. Factory orders fell 0.8% in May, more than in the previous […]
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July 52017
British Pound Weakens Against US Dollar on Disappointing PMI Data
The Bristish pound today declined against the US Dollar after the release of weak Markit/CIPS UK services PMI data. The GBP/USD currency pair declined for the third consecutive session losing over a cent from Friday’s tops amid renewed US dollar strength since the start of the week. The cable lost over 50 points at the height of its decline as investors bought the US dollar and sold the British pound. The UK Services PMI report […]
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July 52017
British Pound Weakens Against US Dollar on Disappointing PMI Data
The Bristish pound today declined against the US Dollar after the release of weak Markit/CIPS UK services PMI data. The GBP/USD currency pair declined for the third consecutive session losing over a cent from Friday’s tops amid renewed US dollar strength since the start of the week. The cable lost over 50 points at the height of its decline as investors bought the US dollar and sold the British pound. The UK Services PMI report […]
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July 52017
Dollar Steady as Markets Wait for FOMC Minutes
The US dollar was steady against its major rivals today as traders were waiting for the Federal Open Market Committee to release minutes of its latest policy meeting. The FOMC will release minutes of its June meeting as of 18:00 GMT today. Market participants hoped that the notes will give some clues as to whether the Committee is going to hike interest rates again this year. Currently, CME FedWatch shows […]
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July 52017
Dollar Steady as Markets Wait for FOMC Minutes
The US dollar was steady against its major rivals today as traders were waiting for the Federal Open Market Committee to release minutes of its latest policy meeting. The FOMC will release minutes of its June meeting as of 18:00 GMT today. Market participants hoped that the notes will give some clues as to whether the Committee is going to hike interest rates again this year. Currently, CME FedWatch shows […]
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July 52017
Eruo Declines Against US Dollar on Comments from ECB’s Coeure
The euro today declined further against the US dollar for the fourth consecutive session after dovish comments from the European Central Bank‘s Coeure. The EUR/USD currency pair was on a downward trend despite the release of positive Markit Eurozone Services PMI data, which did not increase the attractiveness of the single currency. The currency pair lost over 50 points from its daily high at the height of its decline as the US dollar strengthened […]
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July 52017
Eruo Declines Against US Dollar on Comments from ECB’s Coeure
The euro today declined further against the US dollar for the fourth consecutive session after dovish comments from the European Central Bank‘s Coeure. The EUR/USD currency pair was on a downward trend despite the release of positive Markit Eurozone Services PMI data, which did not increase the attractiveness of the single currency. The currency pair lost over 50 points from its daily high at the height of its decline as the US dollar strengthened […]
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July 52017
Australian Dollar Gains Even as China’s Services PMI Disappoints
The Australian dollar rallied today despite unfavorable services data for China, Australia’s biggest trading partner. By now, the Aussie has lost its gains versus the US dollar but continued to trade above the opening level versus other most-traded rivals. The seasonally adjusted Caixin China General Services Business Activity Index slumped to 51.6 in June from 52.8 in May. It marked the slowest expansion of the sector in more than a year. […]
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July 52017
Australian Dollar Gains Even as China’s Services PMI Disappoints
The Australian dollar rallied today despite unfavorable services data for China, Australia’s biggest trading partner. By now, the Aussie has lost its gains versus the US dollar but continued to trade above the opening level versus other most-traded rivals. The seasonally adjusted Caixin China General Services Business Activity Index slumped to 51.6 in June from 52.8 in May. It marked the slowest expansion of the sector in more than a year. […]
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July 52017
Yen Retreats as Risk Aversion Caused by North Korea Subsides
The Japanese yen retreated versus its major peers after yesterday’s rally caused by a North Korean missile test. The United States confirmed that the North Korean missile was indeed intercontinental. Moreover, the it can carry a nuclear warhead. The USA and South Korea conducted an emergency missile drill in a response. Yet the yen did not react to the news, and analysts speculated that markets got used to North Korean missile tests, […]
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