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Day: September 5, 2017
September 52017
Swiss Franc Vulnerable Without Help from Risk Aversion
The Swiss franc was weak today as risk aversion on the market has petered out, making traders less interested in safety provided by the currency. Switzerland’s macroeconomic reports were not supportive to the currency either. Swiss gross domestic product rose 0.3% in the second quarter of this year. While it was an acceleration from the previous quarter’s negatively revised increase of 0.1% (0.3% before the revision), the actual growth failed to reach the 0.5% […]
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September 52017
Swiss Franc Vulnerable Without Help from Risk Aversion
The Swiss franc was weak today as risk aversion on the market has petered out, making traders less interested in safety provided by the currency. Switzerland’s macroeconomic reports were not supportive to the currency either. Swiss gross domestic product rose 0.3% in the second quarter of this year. While it was an acceleration from the previous quarter’s negatively revised increase of 0.1% (0.3% before the revision), the actual growth failed to reach the 0.5% […]
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September 52017
British Pound Rallies Against US Dollar Despite Weak UK PMI Data
The British pound today rallied to new highs against the US dollar despite the release of weak Markit/CIPS UK services PMI data. The cable rallied much higher after the release of disappointing US durable goods orders early in the North American session. The currency pair rallied by over 100 points from its daily lows to hit a new monthly high of 1.3033 crossing the 1.3000 psychological barrier. The British pound’s initial rally […]
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September 52017
British Pound Rallies Against US Dollar Despite Weak UK PMI Data
The British pound today rallied to new highs against the US dollar despite the release of weak Markit/CIPS UK services PMI data. The cable rallied much higher after the release of disappointing US durable goods orders early in the North American session. The currency pair rallied by over 100 points from its daily lows to hit a new monthly high of 1.3033 crossing the 1.3000 psychological barrier. The British pound’s initial rally […]
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September 52017
Australian Dollar Wins in Battle Against Adverse Fundamentals
The Australian dollar rallied today despite the passive stance of the nation’s central bank and adverse domestic macroeconomic data. The possible reasons for the rally were the positive report from China, Australia’s biggest trading partner, and the improving market sentiment. The Reserve Bank of Australia kept its main interest rate unchanged at 1.5% at today’s meeting. Such decision was widely expected, and analysts believe that the RBA will keep interest rates at the current […]
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September 52017
Australian Dollar Wins in Battle Against Adverse Fundamentals
The Australian dollar rallied today despite the passive stance of the nation’s central bank and adverse domestic macroeconomic data. The possible reasons for the rally were the positive report from China, Australia’s biggest trading partner, and the improving market sentiment. The Reserve Bank of Australia kept its main interest rate unchanged at 1.5% at today’s meeting. Such decision was widely expected, and analysts believe that the RBA will keep interest rates at the current […]
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September 52017
Rand Gains as South African Economy Exits Recession
The South African rand gained against the US dollar today as the country’s economy exited its second recession in almost a decade. South African gross domestic product rose 2.5% in the second quarter of this year on an annual basis after falling 0.6% in the previous three months. The surge of agricultural output by 34% from the previous quarter most likely played a large part in the improvement of the economy. Yet analysts were worried that the economic […]
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September 52017
Rand Gains as South African Economy Exits Recession
The South African rand gained against the US dollar today as the country’s economy exited its second recession in almost a decade. South African gross domestic product rose 2.5% in the second quarter of this year on an annual basis after falling 0.6% in the previous three months. The surge of agricultural output by 34% from the previous quarter most likely played a large part in the improvement of the economy. Yet analysts were worried that the economic […]
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September 52017
EUR/USD Trades Sideways on North Korean and Eurozone News
The EUR/USD currency pair today rallied higher after North Korea declared that it will continue its self defense measures in retaliation to the USA. The pair recovered from a brief decline that had been triggered by the release of disappointing Markit Eurozone services PMI early in the European session. The currency pair was trading in a 40 point range after opening today’s session trending downwards, but it took an upward […]
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September 52017
EUR/USD Trades Sideways on North Korean and Eurozone News
The EUR/USD currency pair today rallied higher after North Korea declared that it will continue its self defense measures in retaliation to the USA. The pair recovered from a brief decline that had been triggered by the release of disappointing Markit Eurozone services PMI early in the European session. The currency pair was trading in a 40 point range after opening today’s session trending downwards, but it took an upward […]
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