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Day: October 10, 2017
October 102017
Dollar Goes Lower, Waits for Economic Data
The US dollar fell against its most-traded peers during the Tuesday’s trading session as dollar bulls struggled to find a new catalysts for a rally. Economic data released over the rest of the week may provide such catalysts if it turns out good. The greenback moved lower versus the euro amid speculations about quantitative easing tapering from the European Central Bank. The political crisis in Spain had limited impact on the shared European […]
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October 102017
Dollar Goes Lower, Waits for Economic Data
The US dollar fell against its most-traded peers during the Tuesday’s trading session as dollar bulls struggled to find a new catalysts for a rally. Economic data released over the rest of the week may provide such catalysts if it turns out good. The greenback moved lower versus the euro amid speculations about quantitative easing tapering from the European Central Bank. The political crisis in Spain had limited impact on the shared European […]
Read more
October 102017
Japanese Yen Gains vs. US Dollar, Falls vs. Other Majors
The Japanese yen rose against the US dollar today but fell against other major rivals. The drop followed last week’s substantial gains. Bank of Japan Governor Haruhiko Kuroda reiterated during today’s speech that the central bank is going to maintain monetary stimulus till inflation reaches the 2% goal. Kuroda had a fairly optimistic outlook for Japan’s economy, despite stagnating consumer price growth, saying: Japanâs […]
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October 102017
Japanese Yen Gains vs. US Dollar, Falls vs. Other Majors
The Japanese yen rose against the US dollar today but fell against other major rivals. The drop followed last week’s substantial gains. Bank of Japan Governor Haruhiko Kuroda reiterated during today’s speech that the central bank is going to maintain monetary stimulus till inflation reaches the 2% goal. Kuroda had a fairly optimistic outlook for Japan’s economy, despite stagnating consumer price growth, saying: Japanâs […]
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October 102017
Canadian Dollar Rallies Against US Dollar on Positive Housing Data
The Canadian dollar today rallied against its US counterpart after the release of positive housing data by Statistics Canada. The rebound in global crude oil prices triggered the USD/CAD’s downward spiral at the start of today’s session even as OPEC and non-OPEC countries consider extending production cuts. The USD/CAD currency pair lost about 70 points at the height of its decline to hit new three-day lows below the crucial 1.2500 support level. The commodity-linked […]
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October 102017
Canadian Dollar Rallies Against US Dollar on Positive Housing Data
The Canadian dollar today rallied against its US counterpart after the release of positive housing data by Statistics Canada. The rebound in global crude oil prices triggered the USD/CAD’s downward spiral at the start of today’s session even as OPEC and non-OPEC countries consider extending production cuts. The USD/CAD currency pair lost about 70 points at the height of its decline to hit new three-day lows below the crucial 1.2500 support level. The commodity-linked […]
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October 102017
EUR/USD Retreats from Weekly Highs on Catalan Uncertainties
The EUR/USD currency pair today retreated from daily highs hit in the early European session due to uncertainties relating to the Catalan independence movement. The currency pair had rallied to weekly highs in the early European session following a broad-based selling of the US dollar and positive German trade balance data. The EUR/USD currency pair rallied to weekly highs above the critical 1.1800 levels, before retracing some of its gains as investors waited for news […]
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October 102017
EUR/USD Retreats from Weekly Highs on Catalan Uncertainties
The EUR/USD currency pair today retreated from daily highs hit in the early European session due to uncertainties relating to the Catalan independence movement. The currency pair had rallied to weekly highs in the early European session following a broad-based selling of the US dollar and positive German trade balance data. The EUR/USD currency pair rallied to weekly highs above the critical 1.1800 levels, before retracing some of its gains as investors waited for news […]
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October 102017
Pound Rallies Despite Conflicting Economic Reports
The Great Britain pound gained today as the outlook for monetary tightening continued to support the currency despite today’s mixed macroeconomic data. Manufacturing production rose 0.4% in August, while industrial production increased by 0.2%. Experts had predicted a rise by 0.2% for both indicators. Meanwhile, the trade balance widened by £6.2 billion to £13.2 billion instead of falling as forecasters had promised. Still, market participants did not think that it will […]
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October 102017
Pound Rallies Despite Conflicting Economic Reports
The Great Britain pound gained today as the outlook for monetary tightening continued to support the currency despite today’s mixed macroeconomic data. Manufacturing production rose 0.4% in August, while industrial production increased by 0.2%. Experts had predicted a rise by 0.2% for both indicators. Meanwhile, the trade balance widened by £6.2 billion to £13.2 billion instead of falling as forecasters had promised. Still, market participants did not think that it will […]
Read more