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Day: August 1, 2017
August 12017
EUR/USD Retreats, Stays Close to Multi-Year Highs
EUR/USD was gradually moving down today and logged a sharp drop just recently. Yet the currency pair remained near the multi-year highs, and so far the decline looks like just consolidation ahead of Friday’s employment data. As for today’s data in the United States, macroeconomic indicators were largely within expectations, construction spending being a notable exception with its unexpected drop. Personal income was unchanged in June, meaning that […]
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August 12017
Euro Slips Against Major Peers as Lackluster Business Activity Outweighs Robust Economic Growth
The euro slipped against the British pound and the US dollar on Tuesday, as a number of disappointing readings for business activity within the euro zone lead the shared currency lower. The euroâs losses were partly offset in the wake of a report that showed robust economic growth in the European Union during the previous quarter. IHS Markit, a research firm that releases readings for business conditions based on monthly surveys, said in two separate reports today that […]
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August 12017
Euro Slips Against Major Peers as Lackluster Business Activity Outweighs Robust Economic Growth
The euro slipped against the British pound and the US dollar on Tuesday, as a number of disappointing readings for business activity within the euro zone lead the shared currency lower. The euroâs losses were partly offset in the wake of a report that showed robust economic growth in the European Union during the previous quarter. IHS Markit, a research firm that releases readings for business conditions based on monthly surveys, said in two separate reports today that […]
Read more
August 12017
US Dollar Remains Weak Despite the Release of Mixed US Data
The US dollar today remained weak against its main peers such as the British pound and the euro during the European session. The release of the positive core personal consumption expenditure and the US ISM employment data boosted the greenback slightly during the North American session. The US Dollar Index, which tracks the greenback’s performance against its main peers, was trading above its opening price of 92.89 at the time of writing. This indicates […]
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August 12017
US Dollar Remains Weak Despite the Release of Mixed US Data
The US dollar today remained weak against its main peers such as the British pound and the euro during the European session. The release of the positive core personal consumption expenditure and the US ISM employment data boosted the greenback slightly during the North American session. The US Dollar Index, which tracks the greenback’s performance against its main peers, was trading above its opening price of 92.89 at the time of writing. This indicates […]
Read more
August 12017
Chinese Yuan Strengthens as Manufacturing Growth Accelerates
The Chinese yuan edged higher against the US dollar after a private report showed that expansions of the nation’s manufacturing sector accelerated last month. The Caixin China General Manufacturing PMI rose from 50.4 in June to 51.1 in July. It showed the fastest pace of growth in four months. Released yesterday, the official manufacturing Purchasing Managers’ Index slipped from 51.7 in June to 51.4 in July. USD/CNY slid 0.1% to 6.72 as of 11:49 […]
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August 12017
Chinese Yuan Strengthens as Manufacturing Growth Accelerates
The Chinese yuan edged higher against the US dollar after a private report showed that expansions of the nation’s manufacturing sector accelerated last month. The Caixin China General Manufacturing PMI rose from 50.4 in June to 51.1 in July. It showed the fastest pace of growth in four months. Released yesterday, the official manufacturing Purchasing Managers’ Index slipped from 51.7 in June to 51.4 in July. USD/CNY slid 0.1% to 6.72 as of 11:49 […]
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August 12017
Australian Dollar Fails to Bounce After RBA Meeting
The Australian dollar went down today after rising at the start of the trading session. The currency attempted to rebound after the central bank’s policy meeting, but the bounce was extremely short-lived. The Reserve Bank of Australia kept its key interest rate at 1.5% at today’s meeting as was widely expected. The central bank was not particularly concerned about slowing inflation, saying: Inflation is expected to pick up gradually as the economy strengthens. […]
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August 12017
Australian Dollar Fails to Bounce After RBA Meeting
The Australian dollar went down today after rising at the start of the trading session. The currency attempted to rebound after the central bank’s policy meeting, but the bounce was extremely short-lived. The Reserve Bank of Australia kept its key interest rate at 1.5% at today’s meeting as was widely expected. The central bank was not particularly concerned about slowing inflation, saying: Inflation is expected to pick up gradually as the economy strengthens. […]
Read more