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Day: August 10, 2017
August 102017
Poor US Fundamentals Drive USD Down, Lower Deficit Does Not Help
The trading was mostly negative for the greenback today. EUR/USD rally continued after worse-than-expected macroeconomic reports have been released in the United States during the most active part of the trading session. Budget deficit data released later during the day did not affect the currency pair much. Initial jobless claims were at 244k last week compared to 241k recorded a week earlier and 240k median forecast. (Event A on the chart.) US […]
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August 102017
EUR/USD Rallies Briefly Post US Jobless Claims and PPI Data
The EUR/USD currency pair today rallied higher briefly after the release of negative US weekly jobless claims data by the US Department of Labor. The currency pair’s rally was also due to US dollar weakness precipitated by the disappointing US producer price index data, which was also released today, but fell short of expectations. The EUR/USD currency pair rallied by over 40 points from its daily low after […]
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August 102017
EUR/USD Rallies Briefly Post US Jobless Claims and PPI Data
The EUR/USD currency pair today rallied higher briefly after the release of negative US weekly jobless claims data by the US Department of Labor. The currency pair’s rally was also due to US dollar weakness precipitated by the disappointing US producer price index data, which was also released today, but fell short of expectations. The EUR/USD currency pair rallied by over 40 points from its daily low after […]
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August 102017
British Pound Rallies Slightly Against US Dollar on Mixed UK Data
The British pound today rallied slightly higher against the US dollar after the release of mixed macro data from the UK docket. The release of positive industrial production data by the Office for National Statistics boosted the British pound even as the construction output and trade balance figures missed expectations. The GBP/USD pair opened the day’s session trading downwards, but the release of macro data from the UK docket allowed the pair to rally higher by over […]
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August 102017
British Pound Rallies Slightly Against US Dollar on Mixed UK Data
The British pound today rallied slightly higher against the US dollar after the release of mixed macro data from the UK docket. The release of positive industrial production data by the Office for National Statistics boosted the British pound even as the construction output and trade balance figures missed expectations. The GBP/USD pair opened the day’s session trading downwards, but the release of macro data from the UK docket allowed the pair to rally higher by over […]
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