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Day: September 14, 2017
September 142017
EUR/USD Shrugs Off Pressure from Positive US CPI
EUR/USD fell today after the release of the US Consumer Price Index, which exceeded market expectations. Yet the currency pair quickly recovered and is now trading above the opening level. CPI rose 0.4% in August, exceeding the previous month’s growth of 0.1% and exceeding the forecast of 0.3%. (Event A on the chart.) Initial jobless claims dropped from 298k to 284k last week, surprising analysts who had anticipated an increase to 303k. (Event […]
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September 142017
USD/CAD Spikes to New Highs on US CPI Data Then Quickly Erases Gains
The USD/CAD currency pair today spiked briefly to new highs after the release of positive US CPI data, but quickly erased most of its gains to continue trading sideways. The release of Canada’s new housing price index might have contributed to the pullback despite being lower than the previous figure. The USD/CAD currency pair spiked to hit a daily high of 1.2239 before retracing most of its gains to trade below the 1.2200 […]
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September 142017
USD/CAD Spikes to New Highs on US CPI Data Then Quickly Erases Gains
The USD/CAD currency pair today spiked briefly to new highs after the release of positive US CPI data, but quickly erased most of its gains to continue trading sideways. The release of Canada’s new housing price index might have contributed to the pullback despite being lower than the previous figure. The USD/CAD currency pair spiked to hit a daily high of 1.2239 before retracing most of its gains to trade below the 1.2200 […]
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September 142017
British Pound Jumps as Policymakers Signal Interest Rate Hike
The British pound jumped against its major counterparts on Thursday after UK policymakers hinted that interest rates may be raised relatively soon. The Bank of Englandâs Monetary Policy Committee stated that UK interest rates were maintained at 0.25% after concluding its latest policy meeting. Members of the committee voted 7–2 for the decision, which was widely expected by analysts. The central bankâs quantitative easing program was […]
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September 142017
British Pound Jumps as Policymakers Signal Interest Rate Hike
The British pound jumped against its major counterparts on Thursday after UK policymakers hinted that interest rates may be raised relatively soon. The Bank of Englandâs Monetary Policy Committee stated that UK interest rates were maintained at 0.25% after concluding its latest policy meeting. Members of the committee voted 7–2 for the decision, which was widely expected by analysts. The central bankâs quantitative easing program was […]
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September 142017
US Dollar Gains Against Euro on Positive US CPI Data
The US dollar today gained slightly against the euro after the release of better than expected US CPI data in the American session. The empty European docket could not provide enough impetus to the single currency, which offered resistance and recovered after its initial decline. The EUR/USD currency pair was trading in a 40 point range for most of today’s session as euro refused to cede ground to the US dollar, but the CPI data […]
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September 142017
US Dollar Gains Against Euro on Positive US CPI Data
The US dollar today gained slightly against the euro after the release of better than expected US CPI data in the American session. The empty European docket could not provide enough impetus to the single currency, which offered resistance and recovered after its initial decline. The EUR/USD currency pair was trading in a 40 point range for most of today’s session as euro refused to cede ground to the US dollar, but the CPI data […]
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September 142017
New Zealand Dollar Stable, Ignores China’s Lackluster Data
The New Zealand dollar was stable today even as China’s macroeconomic data was disappointing, dragging Asian stocks down. China is the biggest trading partner of New Zealand, therefore economic performance of the Asian nation often strongly affects the South Pacific currency. The National Bureau of Statistics of China reported that industrial production rose 6.0% in August from a year ago, less than the forecast of 6.6% and the previous month’s growth […]
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September 142017
New Zealand Dollar Stable, Ignores China’s Lackluster Data
The New Zealand dollar was stable today even as China’s macroeconomic data was disappointing, dragging Asian stocks down. China is the biggest trading partner of New Zealand, therefore economic performance of the Asian nation often strongly affects the South Pacific currency. The National Bureau of Statistics of China reported that industrial production rose 6.0% in August from a year ago, less than the forecast of 6.6% and the previous month’s growth […]
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September 142017
Australian Employment Growth Beats Forecast by More Than Twice
The Australian dollar rallied today after extremely positive domestic employment data that showed growth of jobs market that was far bigger than was forecast. The Australian Bureau of Statistics reported that Australian employers added 54,200 jobs in August (adjusted for seasonal variations), more than double expectations of 17,500. What is especially important, the bulk of the increase consisted of full-time jobs. The unemployment rate remained stable at 5.6%. […]
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