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Day: October 20, 2017
October 202017
US Dollar Jumps on Hopes for Tax Cuts as Senate Passes Budget Blueprint
The US dollar jumped today, registering the biggest daily gain in a month, due to the hopes for the tax reform promised by US President Donald Trump. US Senate approved a budget draft for the 2018 fiscal year with a simple majority. That should allowed Republicans to pursue tax cuts without support from Democrats. That, and also the outlook for an interest rate hike from the Federal Reserve, made the dollar a very appealing currency to traders. […]
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October 202017
US Dollar Jumps on Hopes for Tax Cuts as Senate Passes Budget Blueprint
The US dollar jumped today, registering the biggest daily gain in a month, due to the hopes for the tax reform promised by US President Donald Trump. US Senate approved a budget draft for the 2018 fiscal year with a simple majority. That should allowed Republicans to pursue tax cuts without support from Democrats. That, and also the outlook for an interest rate hike from the Federal Reserve, made the dollar a very appealing currency to traders. […]
Read more
October 202017
Euro Mixed amid Clashing Fundamentals
The euro was mixed today, falling against the US dollar and the Great Britain pound, while rising versus the Japanese yen and the Swiss franc. The currency was supported by positive macroeconomic data and the outlook for an asset-purchase reduction, while dragged down by Europe’s political issues like the Brexit and separatism in Catalonia. It is expected that Spanish Prime Minister Mariano Rajoy may take direct control over Catalonia, invoking Article 155. […]
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October 202017
Euro Mixed amid Clashing Fundamentals
The euro was mixed today, falling against the US dollar and the Great Britain pound, while rising versus the Japanese yen and the Swiss franc. The currency was supported by positive macroeconomic data and the outlook for an asset-purchase reduction, while dragged down by Europe’s political issues like the Brexit and separatism in Catalonia. It is expected that Spanish Prime Minister Mariano Rajoy may take direct control over Catalonia, invoking Article 155. […]
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October 202017
EUR/USD Drops After Senate Passes Budget Draft
EUR/USD dropped today as US Senate approved a budget blueprint that should pave the way for tax cuts promised by US President Donald Trump in his election campaign. Positive macroeconomic data released in the United States over the Friday’s session also dragged the currency pair down. Existing home sales rose to the seasonally adjusted annual rate of 5.39 million in September from 5.35 million in August. That is instead of falling […]
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October 202017
British Pound Rallies Higher Against US Dollar on PM May Speech
The British pound today rallied higher against the US dollar after a speech by British Prime Minister, Theresa May, where she called for collaboration between the EU and the UK on Brexit negotiations. PM May made her comments at an informal meeting with leaders of the European Council even as she remarked that the current Brexit talks had been challenging. The GBP/USD currency pair rallied by over 90 points from its daily […]
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October 202017
British Pound Rallies Higher Against US Dollar on PM May Speech
The British pound today rallied higher against the US dollar after a speech by British Prime Minister, Theresa May, where she called for collaboration between the EU and the UK on Brexit negotiations. PM May made her comments at an informal meeting with leaders of the European Council even as she remarked that the current Brexit talks had been challenging. The GBP/USD currency pair rallied by over 90 points from its daily […]
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October 202017
South Africa Crashes on Ramaphosa Speculation
While the political turmoil in Spain took the spotlight in the news, other countries around the world were not immune to their share of problems in politics. South Africa was one of such countries, and that sent the South African Rand crashing down against the US dollar. Rumors were circulating that Deputy President Cyril Ramaphosa may be another victim of the cabinet reshuffle by President Jacob Zuma. That was just days […]
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October 202017
South Africa Crashes on Ramaphosa Speculation
While the political turmoil in Spain took the spotlight in the news, other countries around the world were not immune to their share of problems in politics. South Africa was one of such countries, and that sent the South African Rand crashing down against the US dollar. Rumors were circulating that Deputy President Cyril Ramaphosa may be another victim of the cabinet reshuffle by President Jacob Zuma. That was just days […]
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October 202017
Canadian Dollar Falls Sharply After Disappointing Macroeconomic Reports
The Canadian dollar fell sharply today after the release of macroeconomic reports, which turned out to be worse than analysts had anticipated. The drop of crude oil prices were also unfavorable to the currency. The Consumer Price Index rose 0.2% in September from August, missing the analysts’ average estimate of a 0.3% increase. Retail sales dropped 0.3% in August after increasing 0.4% in July. That was a complete surprise to economists who […]
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