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Day: August 30, 2017
August 302017
EUR/USD Declines After Amazing US Data
The dollar rallied versus the euro today after two major economic reports released in the United States turned out to be surprisingly good. Meanwhile, US stockpiles of crude oil continued to shrink even as Hurricane Harvey caused many refineries to halt, limiting consumption of US oil. ADP employment climbed by 237k in August, outpacing the previous month’s growth of 201k (revised up from 178k). The median forecast promised an increase by just […]
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August 302017
US Dollar Climbs against Major Counterparts on Strong Economic Growth
The US dollar climbed against most of its major peers on Wednesday, as investors became more optimistic in the wake of strong economic data. Fresh reports showing firm economic growth in the second quarter and solid job gains this month sent an index that tracks the greenback to the highest level since Friday. The Bureau of Economic Analysis stated in a report that was released this afternoon that its second estimate for gross domestic […]
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August 302017
US Dollar Climbs against Major Counterparts on Strong Economic Growth
The US dollar climbed against most of its major peers on Wednesday, as investors became more optimistic in the wake of strong economic data. Fresh reports showing firm economic growth in the second quarter and solid job gains this month sent an index that tracks the greenback to the highest level since Friday. The Bureau of Economic Analysis stated in a report that was released this afternoon that its second estimate for gross domestic […]
Read more
August 302017
EUR/USD Posts Major Decline on Positive US GDP Data
The EUR/USD currency pair today recorded a major decline after the release of positive US GDP data early in the North American session. The decline, which started early in today’s session, had been halted briefly after the release of positive German CPI data in the mid-European session. The currency pair lost over 90 points at the height of its decline, extending a downward slide that begun yesterday. The EUR/USD pair came under intense […]
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August 302017
EUR/USD Posts Major Decline on Positive US GDP Data
The EUR/USD currency pair today recorded a major decline after the release of positive US GDP data early in the North American session. The decline, which started early in today’s session, had been halted briefly after the release of positive German CPI data in the mid-European session. The currency pair lost over 90 points at the height of its decline, extending a downward slide that begun yesterday. The EUR/USD pair came under intense […]
Read more
August 302017
NZD/USD Drops, Other NZD-Crosses Stable
The New Zealand dollar fell against its US counterpart today but held steady versus other majors. Comments for the central bank’s chief and domestic macroeconomic data were detrimental to the currency. During today’s speech, Graeme Wheeler, Governor of the Reserve Bank of New Zealand, complained about the strength of the New Zealand dollar, saying: The appreciating exchange rate made it more difficult for our exporters to compete on global markets (if […]
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August 302017
NZD/USD Drops, Other NZD-Crosses Stable
The New Zealand dollar fell against its US counterpart today but held steady versus other majors. Comments for the central bank’s chief and domestic macroeconomic data were detrimental to the currency. During today’s speech, Graeme Wheeler, Governor of the Reserve Bank of New Zealand, complained about the strength of the New Zealand dollar, saying: The appreciating exchange rate made it more difficult for our exporters to compete on global markets (if […]
Read more
August 302017
USD/CHF Rises Because of Economic Data, Improving Sentiment
The Swiss franc fell against the US dollar today due to positive macroeconomic data from the United States and the improving market sentiment. Switzerland’s own economic indicators were not helping the currency either. While markets were rattled at the beginning of the week by a missile launch from North Korea, fears subsided as the situation did not escalate, at least for now. As for Swiss macroeconomic data, the UBS consumption indicator rose from 1.30 to 1.38 […]
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August 302017
USD/CHF Rises Because of Economic Data, Improving Sentiment
The Swiss franc fell against the US dollar today due to positive macroeconomic data from the United States and the improving market sentiment. Switzerland’s own economic indicators were not helping the currency either. While markets were rattled at the beginning of the week by a missile launch from North Korea, fears subsided as the situation did not escalate, at least for now. As for Swiss macroeconomic data, the UBS consumption indicator rose from 1.30 to 1.38 […]
Read more