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Day: October 19, 2017
October 192017
EUR/USD Rallies Despite Political Turmoil in Spain
EUR/USD rallied today, demonstrating strength that was surprising considering that political turmoil in Spain persisted. Meanwhile, two of the three important economic reports released in the United States today were good, while the leading indicators demonstrated a surprising drop, being the only negative release. Initial jobless claims fell from 244k to 222k last week, while forecasters had anticipated a much smaller drop to 240k. (Event A on the chart.) […]
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October 192017
Japanese Yen Mixed During Thursday’s Trading
The Japanese yen rallied against such most-traded rivals as the US dollar and the Great Britain pound during the current trading session. At the same time, it was unable to gain on the European currencies like the euro and Swiss franc, which is surprising considering the political turmoil in Europe, specifically in Spain. As for Japan itself, the economic reports released on Thursday missed expectations. The All Industry Activity Index rose 0.1% in August from the previous month, […]
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October 192017
Japanese Yen Mixed During Thursday’s Trading
The Japanese yen rallied against such most-traded rivals as the US dollar and the Great Britain pound during the current trading session. At the same time, it was unable to gain on the European currencies like the euro and Swiss franc, which is surprising considering the political turmoil in Europe, specifically in Spain. As for Japan itself, the economic reports released on Thursday missed expectations. The All Industry Activity Index rose 0.1% in August from the previous month, […]
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October 192017
NZD/USD Tumbles Almost 2% as New Zealand Coalition Government Forms
The New Zealand dollar tumbled almost 2% against its US peer and more than 2% against such currencies as the euro and the Japanese yen. The reason was the slump was the news that the leftist Labour Party joined with the populist right-wing New Zealand First party to form a coalition government. There were several reasons for why markets reacted in a such negative fashion to the news. Firstly, markets do not like […]
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October 192017
NZD/USD Tumbles Almost 2% as New Zealand Coalition Government Forms
The New Zealand dollar tumbled almost 2% against its US peer and more than 2% against such currencies as the euro and the Japanese yen. The reason was the slump was the news that the leftist Labour Party joined with the populist right-wing New Zealand First party to form a coalition government. There were several reasons for why markets reacted in a such negative fashion to the news. Firstly, markets do not like […]
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October 192017
British Pound Plummets for Second Consecutive Day on Weak Retail Sales
The British pound fell against most of its peers for the second day in a row on Thursday, following the release of lower than expected retail sales data in the United Kingdom. The weak consumer demand continued a trend of disappointing economic releases over the past few days, as inflation rose while wage growth lagged behind. The UK Office for National Statistics said in a report that was published this morning that retail sales within […]
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October 192017
British Pound Plummets for Second Consecutive Day on Weak Retail Sales
The British pound fell against most of its peers for the second day in a row on Thursday, following the release of lower than expected retail sales data in the United Kingdom. The weak consumer demand continued a trend of disappointing economic releases over the past few days, as inflation rose while wage growth lagged behind. The UK Office for National Statistics said in a report that was published this morning that retail sales within […]
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October 192017
EUR/USD Rallies as Spanish Government Tightens Grip on Catalonia
The EUR/USD currency pair rallied to new highs today despite the announcement by the Spanish government that it would invoke Article 155 suspending Catalonia’s autonomy. The currency pair rallied higher in the early North American session ignoring the release of positive US unemployment data by the Department of Labor. The EUR/USD currency pair rallied by over 80 points from its daily low of 1.1767 established early in the European session. Given today’s empty […]
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October 192017
EUR/USD Rallies as Spanish Government Tightens Grip on Catalonia
The EUR/USD currency pair rallied to new highs today despite the announcement by the Spanish government that it would invoke Article 155 suspending Catalonia’s autonomy. The currency pair rallied higher in the early North American session ignoring the release of positive US unemployment data by the Department of Labor. The EUR/USD currency pair rallied by over 80 points from its daily low of 1.1767 established early in the European session. Given today’s empty […]
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October 192017
AUD Gains on USD, Falls vs. Other Major Despite Supportive Data
The Australian dollar rallied against its US counterpart but fell against other most-traded rivals during the current trading session. That is despite the strong domestic employment data and decent macroeconomic reports released from China, Australia’s biggest trading partner. Australia’s employment rose by 19,800 in September from the previous month, seasonally adjusted, exceeding the median forecast of an increase by 14,100. Furthermore, the unemployment rate unexpectedly ticked down […]
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