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Day: September 28, 2017
September 282017
Canadian Dollar Recovers After Wednesday’s Steep Decline
The Canadian dollar recovered today following yesterday’s steep decline, though the currency was still heading to weekly losses against most of its majors. Yesterday, Bank of Canada Governor Stephen Poloz delivered a speech about future monetary policy. He sounded rather cautious, and analysts considered the cautiousness to be a sign that the central bank is not going to continue raising interest rates in the foreseeable future. That strongly hurt […]
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September 282017
Canadian Dollar Recovers After Wednesday’s Steep Decline
The Canadian dollar recovered today following yesterday’s steep decline, though the currency was still heading to weekly losses against most of its majors. Yesterday, Bank of Canada Governor Stephen Poloz delivered a speech about future monetary policy. He sounded rather cautious, and analysts considered the cautiousness to be a sign that the central bank is not going to continue raising interest rates in the foreseeable future. That strongly hurt […]
Read more
September 282017
EUR/USD Rises Despite Upward Revision to US GDP
US gross domestic product received an upward revision to its reading for the second quarter of this year. But that did not prevent EUR/USD from halting its decline today. GDP rose 3.1% in Q2 2017 according to the final estimate after increasing 1.2% in Q1. The actual reading was a bit better than the average forecast and the previous estimate of 3.0%. (Event A on the chart.) Initial jobless claims were at the seasonally adjusted […]
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September 282017
Australian Dollar Extends Decline Ahead of Next Week’s RBA Meeting
The Australian dollar extended its decline today, falling for the third consecutive day against the euro and for the fourth versus the US dollar and the Swiss franc. The Aussie started a rally at the beginning of June, but it looks like the upward momentum has petered out. Analysts speculated that one of the probable reasons for that was the slump of prices for iron ore. The commodity is the biggest source of export revenue for Australia, therefore the falling prices have […]
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September 282017
Australian Dollar Extends Decline Ahead of Next Week’s RBA Meeting
The Australian dollar extended its decline today, falling for the third consecutive day against the euro and for the fourth versus the US dollar and the Swiss franc. The Aussie started a rally at the beginning of June, but it looks like the upward momentum has petered out. Analysts speculated that one of the probable reasons for that was the slump of prices for iron ore. The commodity is the biggest source of export revenue for Australia, therefore the falling prices have […]
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September 282017
British Pound Mixed Against Main Counterparts Following Mark Carney Comments
The British pound weakened against the euro on Thursday, even after positive comments from Bank of England Governor Mark Carney. Meanwhile, the UK currency rose against the US dollar following a confirmation that progress was achieved in the Brexit negotiations. Speaking at an event that celebrated the twentieth anniversary of the independence of the Bank of England, Carney said that the central bank is not omnipotent. He added that, while policymakers can work […]
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September 282017
British Pound Mixed Against Main Counterparts Following Mark Carney Comments
The British pound weakened against the euro on Thursday, even after positive comments from Bank of England Governor Mark Carney. Meanwhile, the UK currency rose against the US dollar following a confirmation that progress was achieved in the Brexit negotiations. Speaking at an event that celebrated the twentieth anniversary of the independence of the Bank of England, Carney said that the central bank is not omnipotent. He added that, while policymakers can work […]
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September 282017
EUR/USD Rallies to New Highs Ignoring Strong US GDP Data
The EUR/USD currency pair today rallied to new highs ignoring the robust US GDP data released mid-European session, which led to a brief decline. The currency pair rallied higher in the late Asian session and the early European session after the release of positive Eurozone data. The currency rallied by over 70 points from its daily low hit during the Asian session with a minor decline that occurred after the US releases, […]
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September 282017
EUR/USD Rallies to New Highs Ignoring Strong US GDP Data
The EUR/USD currency pair today rallied to new highs ignoring the robust US GDP data released mid-European session, which led to a brief decline. The currency pair rallied higher in the late Asian session and the early European session after the release of positive Eurozone data. The currency rallied by over 70 points from its daily low hit during the Asian session with a minor decline that occurred after the US releases, […]
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September 282017
Japanese Yen Stable After Announcement of Snap Election
The Japanese yen was stable today despite the announcement of a snap election in October. According to reports, Prime Minister Shinzo Abe dissolved the parliament, announcing a snap election on October 22. He hopes to capitalize on rising approval rating, caused by his response to the North Korean threat. But the Party of Hope, newly created by Tokyo Governor Yuriko Koike, can pose serious challenge for Abe’s plans for securing power. USD/JPY traded at 112.72 […]
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