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Day: July 11, 2017
July 112017
Euro Climbs on Boosted Confidence in Future Outlook for Euro Area
The euro moved higher against the US dollar and the British pound on Tuesday, as tradersâ confidence in the future of the euro zone improved following a speech by Angela Merkel. The greenback, on the other hand, suffered from a political scandal that involved Donald Trump Jr. Speaking at a business conference in Bavaria, Germany, German Chancellor Angela Merkel said that the European Union stands more united than ever, despite the ongoing Brexit talks. Merkel hinted […]
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July 112017
Euro Climbs on Boosted Confidence in Future Outlook for Euro Area
The euro moved higher against the US dollar and the British pound on Tuesday, as tradersâ confidence in the future of the euro zone improved following a speech by Angela Merkel. The greenback, on the other hand, suffered from a political scandal that involved Donald Trump Jr. Speaking at a business conference in Bavaria, Germany, German Chancellor Angela Merkel said that the European Union stands more united than ever, despite the ongoing Brexit talks. Merkel hinted […]
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July 112017
EUR/USD Moves Higher During Quiet Trading
EUR/USD went up today. Trading was quiet, with few economic releases. But those that came out favored the euro over the dollar, pushing the currency pair higher. Traders wait for tomorrow’s testimony of Federal Reserve Chair Janet Yellen. Wholesale inventories rose 0.4% in May from April, exceeding analysts’ estimates that showed a 0.3% growth. The stockpiles were down 0.5% in the previous reporting period. (Event […]
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July 112017
US Dollar Falls on Political Scandal & Doubts About Interest Rate Hike
The US dollar fell against such rivals as the euro and the Japanese yen today due to another political scandal in the United States. Another reason for the drop were comments from a Federal Reserve official that damped interest rate hike expectations. US President Donald Trump appeared in the center of yet another scandal, though this time not by his own fault. Leaked emails showed that his son, Donald Trump […]
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July 112017
US Dollar Falls on Political Scandal & Doubts About Interest Rate Hike
The US dollar fell against such rivals as the euro and the Japanese yen today due to another political scandal in the United States. Another reason for the drop were comments from a Federal Reserve official that damped interest rate hike expectations. US President Donald Trump appeared in the center of yet another scandal, though this time not by his own fault. Leaked emails showed that his son, Donald Trump […]
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July 112017
USD/CAD Rallies Higher Despite Positive Canadian Housing Starts Data
The Canadian dollar today weakened against the US dollar despite the release of positive Canadian housing starts data by the Canada Mortgage and Housing Corporation. The loonie tried to rally against the greenback after the release, but the greenback rallied higher after the release of the US JOLTS job openings report. The USD/CAD currency pair gained over 40 points at the height of its rally as the pair recovered from 10-month lows set during Friday’s session. […]
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July 112017
USD/CAD Rallies Higher Despite Positive Canadian Housing Starts Data
The Canadian dollar today weakened against the US dollar despite the release of positive Canadian housing starts data by the Canada Mortgage and Housing Corporation. The loonie tried to rally against the greenback after the release, but the greenback rallied higher after the release of the US JOLTS job openings report. The USD/CAD currency pair gained over 40 points at the height of its rally as the pair recovered from 10-month lows set during Friday’s session. […]
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July 112017
Aussie Trims Gains After Rallying on Strong Business Confidence
The Australian dollar rose today on the back of the strong business confidence, though the currency has trimmed its gains by now. The NAB business confidence rose from 8 in May to 9 in June. The report said: Business conditions hit another multiyear high, with most industries performing well. Meanwhile, home loans rose 1.0% from April to May on a seasonally adjusting basis. The reading was better than the drop by 1.9% […]
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July 112017
Aussie Trims Gains After Rallying on Strong Business Confidence
The Australian dollar rose today on the back of the strong business confidence, though the currency has trimmed its gains by now. The NAB business confidence rose from 8 in May to 9 in June. The report said: Business conditions hit another multiyear high, with most industries performing well. Meanwhile, home loans rose 1.0% from April to May on a seasonally adjusting basis. The reading was better than the drop by 1.9% […]
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July 112017
NZ Dollar Down After Underwhelming Electronic Card Spending
The New Zealand dropped after the release of disappointing electronic card spending data. Stats NZ reported that New Zealand’s total electronic card spending rose just 0.1% in June from the previous month. Moreover, spending in the retail industries was flat. The data was especially disappointing as economists had expected a boost to the spending from the British and Irish Lions tour to New Zealand. Electronic card spending is considered to be […]
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