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Day: October 18, 2017
October 182017
EUR/USD Bounces from Daily Low, Logs Small Gain
EUR/USD was falling during the first half of the Wednesday’s trading session, but reversed its movement later and settled with a gain, albeit a small one. The worse-than-expected housing data released in the United States during the session probably contributed to the bounce of the currency pair. Housing starts were at the seasonally adjusted annual rate of 1.13 million in September, while analysts had expected the same 1.18 million rate as in August. Building permits were […]
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October 182017
Australian Dollar Mixed After Confusing Economic Data
The Australian dollar was mixed today following confusing macroeconomic data. The currency gained on such rivals as the Japanese yen and the Swiss franc, but fell versus the euro and was flat against the US dollar. The Westpac/Melbourne Institute Leading Index rose 0.1% in September from the previous month after falling by 0.1% in August. But the six month annualized growth rate, which suggests the likely pace of economic activity relative to trend three […]
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October 182017
Australian Dollar Mixed After Confusing Economic Data
The Australian dollar was mixed today following confusing macroeconomic data. The currency gained on such rivals as the Japanese yen and the Swiss franc, but fell versus the euro and was flat against the US dollar. The Westpac/Melbourne Institute Leading Index rose 0.1% in September from the previous month after falling by 0.1% in August. But the six month annualized growth rate, which suggests the likely pace of economic activity relative to trend three […]
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October 182017
Euro Recovers Against US Dollar on Weak Housing Data
The euro today recovered the ground it had lost against the US dollar during the early European session after the release of disappointing US housing data. The euro was largely weaker against the US dollar for most of the European session despite an early morning speech by Mario Draghi, the President of the European Central Bank. The EUR/USD currency pair recovered most of the ground it had lost earlier in the session when it was trading […]
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October 182017
Euro Recovers Against US Dollar on Weak Housing Data
The euro today recovered the ground it had lost against the US dollar during the early European session after the release of disappointing US housing data. The euro was largely weaker against the US dollar for most of the European session despite an early morning speech by Mario Draghi, the President of the European Central Bank. The EUR/USD currency pair recovered most of the ground it had lost earlier in the session when it was trading […]
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October 182017
Canadian Dollar Rallies on Back of Supportive Fundamentals
The Canadian dollar rallied today amid positive macroeconomic data, a rally of prices for crude oil, and hopes that the trade agreement with the United States can still be preserved. Canada’s manufacturing sales rose 1.6% in August. That was an unexpectedly good reading considering that the sales dropped 2.6% in July and experts were expecting another drop in August, though just a minor one by 0.1%. US inventories of crude shrank […]
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October 182017
Canadian Dollar Rallies on Back of Supportive Fundamentals
The Canadian dollar rallied today amid positive macroeconomic data, a rally of prices for crude oil, and hopes that the trade agreement with the United States can still be preserved. Canada’s manufacturing sales rose 1.6% in August. That was an unexpectedly good reading considering that the sales dropped 2.6% in July and experts were expecting another drop in August, though just a minor one by 0.1%. US inventories of crude shrank […]
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October 182017
British Pound Declines Against Major Peers on Lackluster Labor Data
The British pound declined against most other major currencies on Wednesday as the latest labor market figures painted a mixed picture of unemployment and wage growth. Lower expectations of an interest rate hike followed todayâs figures, which further weighed on the British currency. A fresh report from the UK Office for National Statistics showed that the unemployment rate was at 4.3% in August, which matched expectations. 52,000 people went out of unemployment in the three […]
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October 182017
British Pound Declines Against Major Peers on Lackluster Labor Data
The British pound declined against most other major currencies on Wednesday as the latest labor market figures painted a mixed picture of unemployment and wage growth. Lower expectations of an interest rate hike followed todayâs figures, which further weighed on the British currency. A fresh report from the UK Office for National Statistics showed that the unemployment rate was at 4.3% in August, which matched expectations. 52,000 people went out of unemployment in the three […]
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