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Day: July 12, 2017
July 122017
US Dollar Weakens After Janet Yellen Testifies
The US dollar fell versus its major peers (though not against the extremely weak euro) after Federal Reserve Chairwoman Janet Yellen testified before the House Financial Services Committee today. Yellen delivered a prepared testimony on the Semiannual Monetary Policy Report. While some analysts thought that her tone was neutral, most considered the testimony to be dovish. She mentioned an increase of interest rates, but only […]
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July 122017
US Dollar Weakens After Janet Yellen Testifies
The US dollar fell versus its major peers (though not against the extremely weak euro) after Federal Reserve Chairwoman Janet Yellen testified before the House Financial Services Committee today. Yellen delivered a prepared testimony on the Semiannual Monetary Policy Report. While some analysts thought that her tone was neutral, most considered the testimony to be dovish. She mentioned an increase of interest rates, but only […]
Read more
July 122017
Canadian Dollar Rallies Against US Dollar After BoC Rate Hike
The Canadian dollar today rallied higher against the US dollar after the Bank of Canada hiked its overnight lending rate by 25 bps meeting market consensus. The weaker US dollar also contributed to the USD/CAD pair’s decline as markets reacted negatively to Janet Yellen‘s testimony before Congress. The USD/CAD currency pair lost over 130 points in a span of two hours after the BoC rate hike announcement. The Bank of Canada announced […]
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July 122017
Canadian Dollar Rallies Against US Dollar After BoC Rate Hike
The Canadian dollar today rallied higher against the US dollar after the Bank of Canada hiked its overnight lending rate by 25 bps meeting market consensus. The weaker US dollar also contributed to the USD/CAD pair’s decline as markets reacted negatively to Janet Yellen‘s testimony before Congress. The USD/CAD currency pair lost over 130 points in a span of two hours after the BoC rate hike announcement. The Bank of Canada announced […]
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July 122017
Pound Higher After UK Employment Report
The Great Britain pound rallied today following the release of an employment report that was positive for the most part. In particular, the unemployment rate fell to the lowest level in 42 years. Office for National Statistics released a report that showed an unexpected drop of the unemployment rate from 4.6% to 4.5% in the three-month period from March to May, reaching the level not seen since 1975. But average weekly earnings rose just 1.8% in the same […]
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July 122017
Pound Higher After UK Employment Report
The Great Britain pound rallied today following the release of an employment report that was positive for the most part. In particular, the unemployment rate fell to the lowest level in 42 years. Office for National Statistics released a report that showed an unexpected drop of the unemployment rate from 4.6% to 4.5% in the three-month period from March to May, reaching the level not seen since 1975. But average weekly earnings rose just 1.8% in the same […]
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July 122017
Australian Dollar Rallies as Consumer Sentiment Improves
The Australian dollar rallied today as the consumer sentiment improved, though it still was not particularly great. The Westpac-Melbourne Institute Index of Consumer Sentiment rose 0.4% in July from in June. It was the first increase after three months of declines. Still, the report was not that great, saying: This is the eighth consecutive month where the Index has printed below 100 indicating that pessimists continue […]
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July 122017
Australian Dollar Rallies as Consumer Sentiment Improves
The Australian dollar rallied today as the consumer sentiment improved, though it still was not particularly great. The Westpac-Melbourne Institute Index of Consumer Sentiment rose 0.4% in July from in June. It was the first increase after three months of declines. Still, the report was not that great, saying: This is the eighth consecutive month where the Index has printed below 100 indicating that pessimists continue […]
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