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Day: July 14, 2017
July 142017
GBP/USD Touches Highest Since September
The Great Britain pound rallied to the highest level since September against the US dollar during the Friday’s trading session. The currency also logged solid gains against other most-traded rivals. While the sterling’s rally versus the dollar could be explained by the poor US economic reports, the gains against other currencies mean that the pound had its own supportive fundamentals. Analysts believe that the major positive factor for Britain’s […]
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July 142017
EUR/USD Reverses Losses After Soft Economic Data from USA
EUR/USD gained today, reversing yesterday’s losses, as almost all economic reports released from the United States during the current trading session were bad. In particular, inflation, closely watched by the Federal Reserve, missed expectations. CPI was unchanged in June while economists were counting on at least 0.1% increase. The index was down 0.1% in May. (Event A on the chart.) Retail sales declined 0.2% in June even though analysts also […]
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July 142017
US Dollar Tumbles as CPI and Retail Sales Data Disappoint
The US dollar today weakened against its main peers as key macro data released from the US docket disappointed. The US retail sales data, the CPI and the University of Michigan consumer sentiment index all missed their respective market consensus figures, which put the greenback under renewed selling pressure. The US Dollar Index, which tracks the greenback’s performance was trading below its opening price of 95.80 and was […]
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July 142017
EUR/USD Stays Put Despite ECB QE Tapering Rumors
The EUR/USD currency pair today remained unchanged despite market rumors that the European Central Bank President, Mario Draghi, would include QE tapering in his Jackson Hole meeting next month. Janet Yellen‘s dovish comments during her two-day Humphrey-Hawkins testimony before Congress had a negative impact on the US dollar, which has been largely weaker against the euro in today’s session. The EUR/USD pair has been […]
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July 142017
Japanese Yen Mixed vs. Majors, Soft vs. High-Yielding Currencies
The Japanese yen was mixed against major rivals today, trading flat against the US dollar and the euro, falling versus the Great Britain pound, and rising against the Swiss franc. The yen was soft against higher-yielding currencies of emerging markets. Dovish comments from Federal Reserve Chairperson Janet Yellen led to speculations that the Fed will be slow with its monetary tightening. That encouraged investors to seek higher-yield, […]
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July 142017
Chinese Yuan Stable During Friday’s Calm Trading
The Chinese yuan was flat versus the US dollar during the Friday’s calm trading session as traders were waiting for economic releases from the United States. Asian currencies received a boost from the dovish comments of Federal Reserve Chairwoman Janet Yellen. Adding to the investors’ optimism, Fitch Ratings affirmed China’s credit rating at A+ with stable outlook. Now, market participants wait for macroeconomic reports from the USA, inflation data […]
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