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Day: September 12, 2017
September 122017
Canadian Dollar Drops Despite Favorable Trading Environment
The Canadian dollar fell versus its US counterpart today as a range of factors were supporting the greenback. The losses against other majors were harder to explain considering that the trading environment looked favorable to the loonie. One of the reasons for the US dollar’s strength was the fact that tensions between the United States and North Korea did not escalate further. Yet the same factor should have been supportive to the Canadian dollar as well […]
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September 122017
Canadian Dollar Drops Despite Favorable Trading Environment
The Canadian dollar fell versus its US counterpart today as a range of factors were supporting the greenback. The losses against other majors were harder to explain considering that the trading environment looked favorable to the loonie. One of the reasons for the US dollar’s strength was the fact that tensions between the United States and North Korea did not escalate further. Yet the same factor should have been supportive to the Canadian dollar as well […]
Read more
September 122017
Euro Gains on Rivals as Traders Anticipate QE Tapering from ECB
The euro rallied today as speculators continued to anticipate quantitative easing tapering from the European Central Bank. While the shared 19-nation currency was unable to beat the very strong Great Britain pound, it gained on other most-traded peers, especially safe haven currencies. ECB President Mario Draghi attempted to talk down the euro at last week’s press conference, which followed the decision to keep monetary policy unchanged. Yet market […]
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September 122017
Euro Gains on Rivals as Traders Anticipate QE Tapering from ECB
The euro rallied today as speculators continued to anticipate quantitative easing tapering from the European Central Bank. While the shared 19-nation currency was unable to beat the very strong Great Britain pound, it gained on other most-traded peers, especially safe haven currencies. ECB President Mario Draghi attempted to talk down the euro at last week’s press conference, which followed the decision to keep monetary policy unchanged. Yet market […]
Read more
September 122017
US Dollar Rises Against Major Peers as Businesses Look for More Employees
The US dollar rose against the euro and the Japanese yen on Tuesday as employers in the United States looked for more workers than expected in July. However, the greenback was weaker against the British pound as strong inflation data in the United Kingdom supported the cable. US job openings hit a new record as companies continued to have strong demand for new jobs, despite the lowest unemployment rate in years. The Department of Labor reported today that job […]
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September 122017
US Dollar Rises Against Major Peers as Businesses Look for More Employees
The US dollar rose against the euro and the Japanese yen on Tuesday as employers in the United States looked for more workers than expected in July. However, the greenback was weaker against the British pound as strong inflation data in the United Kingdom supported the cable. US job openings hit a new record as companies continued to have strong demand for new jobs, despite the lowest unemployment rate in years. The Department of Labor reported today that job […]
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September 122017
British Pound Rallies Against US Dollar on Positive UK Inflation Data
The British pound today rallied to new yearly highs against the US dollar after the release of headline UK inflation data, which beat expectations, early in the European session. The stronger US dollar, as tracked by the US Dollar Index, could not derail the pound’s strong rally even as US treasury yields rallied higher. The GBP/USD currency pair rallied by over 120 points from its daily lows at the height of its rally, […]
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September 122017
British Pound Rallies Against US Dollar on Positive UK Inflation Data
The British pound today rallied to new yearly highs against the US dollar after the release of headline UK inflation data, which beat expectations, early in the European session. The stronger US dollar, as tracked by the US Dollar Index, could not derail the pound’s strong rally even as US treasury yields rallied higher. The GBP/USD currency pair rallied by over 120 points from its daily lows at the height of its rally, […]
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September 122017
Aussie Holds Ground Even as Business Confidence Deteriorates
The Australian dollar was little changed today even as the business confidence of Australian firms deteriorated. Moreover, the Aussie gained on currencies perceived to be safe, like the Japanese yen and the Swiss franc. National Australia Bank reported that the business confidence index dropped 12 in July to 5 in August, falling below the long-run average. As for factors considered to be the most important for the drop, the report explained: For those indicating deterioration in confidence, the biggest concerns […]
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September 122017
Aussie Holds Ground Even as Business Confidence Deteriorates
The Australian dollar was little changed today even as the business confidence of Australian firms deteriorated. Moreover, the Aussie gained on currencies perceived to be safe, like the Japanese yen and the Swiss franc. National Australia Bank reported that the business confidence index dropped 12 in July to 5 in August, falling below the long-run average. As for factors considered to be the most important for the drop, the report explained: For those indicating deterioration in confidence, the biggest concerns […]
Read more