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Day: July 26, 2017
July 262017
USD/CAD Drops to Two-Year Low After Fed Statement
The Canadian dollar gained to the highest level in two years versus its US counterpart today after the Federal Reserve released a relatively dovish policy statement. The loonie also rallied against the weak Swiss franc but dropped versus the euro and Japanese yen. The Federal Reserve concluded its two-day meeting on Wednesday, releasing a statement that was considered dovish by markets. That led to a drop of the US dollar against other currencies, […]
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July 262017
USD/CAD Drops to Two-Year Low After Fed Statement
The Canadian dollar gained to the highest level in two years versus its US counterpart today after the Federal Reserve released a relatively dovish policy statement. The loonie also rallied against the weak Swiss franc but dropped versus the euro and Japanese yen. The Federal Reserve concluded its two-day meeting on Wednesday, releasing a statement that was considered dovish by markets. That led to a drop of the US dollar against other currencies, […]
Read more
July 262017
EUR/USD Jumps to Highest Since 2015 After FOMC
EUR/USD rallied today, jumping to the highest level since January 2015, after the Federal Open Market Committee concluded its two-day meeting. The Committee did not deliver any big surprise, and market participants felt that the policy statement was not hawkish enough for the dollar to reverse its bearish momentum. New home sales were at the seasonally adjusted annual rate of 610k in June, below the median forecast of 615k. The May […]
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July 262017
Swiss Franc Drops as Traders Seek Assets with Higher Yield
The Swiss franc dropped today as the market sentiment was not favorable to currencies considered to be a safe haven. Analysts explained the drop of the Swissie by the risk-on market mentality as traders were hoarding assets such as stocks and commodities. Meanwhile, the UBS consumption indicator printed 1.38 in June, up from the downwardly revised May figure of 1.32. Despite the increase, the report said that the indicator is “pointing to subdued growth in Swiss private consumption […]
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July 262017
Swiss Franc Drops as Traders Seek Assets with Higher Yield
The Swiss franc dropped today as the market sentiment was not favorable to currencies considered to be a safe haven. Analysts explained the drop of the Swissie by the risk-on market mentality as traders were hoarding assets such as stocks and commodities. Meanwhile, the UBS consumption indicator printed 1.38 in June, up from the downwardly revised May figure of 1.32. Despite the increase, the report said that the indicator is “pointing to subdued growth in Swiss private consumption […]
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July 262017
US Dollar Climbs Against Euro Ahead of Fed Meeting
The US dollar edged higher against the euro on Wednesday, ahead of the latest statement from the Federal Open Market Committee, which is expected to contain a decision to keep rates unchanged. Traders appear to have ignored a disappointing number for new home sales in June in anticipation for remarks from the monetary policy committee relating to interest rates in the near future. In a joint release, the US Census Bureau and the US Department of Housing and Urban Development said […]
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July 262017
British Pound Rallies Against US Dollar on Positive GDP Data
The British pound today rallied higher against the US dollar after the release of preliminary UK GDP data for the second quarter, which met expectations. The British pound initially dropped after the GDP announcement before gaining traction and rallying higher against the US dollar after British finance minister Philip Hammond‘s comments on Brexit. The GBP/USD currency pair gained over 60 points at the height of its rally from a daily low […]
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July 262017
NZ Dollar Rallies with Help from Widening Trade Surplus
The New Zealand dollar rallied today, boosted by a better-than-expected trade balance. Dovish comments of a central bank official had limited impact on the currency. New Zealand’s trade surplus was at NZ$242 million in June, up from NZ$74 million in the previous month. The actual value was above the consensus forecast of NZ$147 million. John McDermott, Reserve Bank of New Zealand Assistant Governor, said in today’s speech: Over time, the neutral interest […]
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July 262017
Australian Dollar Weakens on Inflation, Comments from RBA Chief
The Australian dollar fell today as inflation missed forecasts and the central bank’s chief made dovish comments. While the currency has rebounded from the day’s lows as of now, currently it is still trading below the opening level. Australia’s Consumer Price Index rose 0.2% in the June quarter from the previous three months (not seasonally adjusted). It was a slower growth than 0.4% predicted by experts and 0.5% registered in the March […]
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