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Day: October 25, 2017
October 252017
UK GDP Surprises to Upside, Pound Climbs
The Great Britain pound climbed today following the report that showed that Britain’s economy grew last quarter faster than economists had expected, solidifying the case for an interest rate hike. UK gross domestic product rose 0.4% in the September quarter from the previous month according to the first, preliminary, estimate. It was a positive surprise as experts had predicted the same 0.3% rate of growth as in the June quarter. The positive data […]
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October 252017
UK GDP Surprises to Upside, Pound Climbs
The Great Britain pound climbed today following the report that showed that Britain’s economy grew last quarter faster than economists had expected, solidifying the case for an interest rate hike. UK gross domestic product rose 0.4% in the September quarter from the previous month according to the first, preliminary, estimate. It was a positive surprise as experts had predicted the same 0.3% rate of growth as in the June quarter. The positive data […]
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October 252017
Australian Dollar Sinks 1% After Inflation Misses Expectations
The Australian dollar sank today, losing about 1% of its value, after inflation data came out disappointing, eliminating hopes for an interest rate hike from the central bank. The headline inflation index rose 0.6% in the September quarter from the previous three months (without seasonal adjustments), missing expectations of 0.8% growth, though accelerating from the 0.2% rate of increase in the June quarter. Underline inflation rose 0.4% (adjusted for seasonal […]
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October 252017
Australian Dollar Sinks 1% After Inflation Misses Expectations
The Australian dollar sank today, losing about 1% of its value, after inflation data came out disappointing, eliminating hopes for an interest rate hike from the central bank. The headline inflation index rose 0.6% in the September quarter from the previous three months (without seasonal adjustments), missing expectations of 0.8% growth, though accelerating from the 0.2% rate of increase in the June quarter. Underline inflation rose 0.4% (adjusted for seasonal […]
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October 252017
Positive US Data Doesn’t Prevent Rally of EUR/USD
EUR/USD rallied today even though macroeconomic reports released in the United States today were good. Some analysts explained the rally by profit-taking after the dollar has strengthened recently. Overall, fundamentals still look good for the US currency, though tomorrow’s meeting of the European Central Bank may boost the euro further up against the greenback. Durable goods orders increased 2.2% in September, almost two times the forecast increase of 1.0%. […]
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October 252017
Canadian Dollar Weakens Against US Dollar on BoC Rate Decision
The Canadian dollar today weakened against its US counterpart after the Bank of Canada announced that it would maintain interest rates at the current levels. The release of the US new home sales data, which exceeded market expectations also contributed to the USD/CAD currency pair’s rally. The USD/CAD currency pair rallied by over 150 points from its daily low of 1.2633 hit just before the announcement to trade at highs around […]
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October 252017
Canadian Dollar Weakens Against US Dollar on BoC Rate Decision
The Canadian dollar today weakened against its US counterpart after the Bank of Canada announced that it would maintain interest rates at the current levels. The release of the US new home sales data, which exceeded market expectations also contributed to the USD/CAD currency pair’s rally. The USD/CAD currency pair rallied by over 150 points from its daily low of 1.2633 hit just before the announcement to trade at highs around […]
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October 252017
EUR/USD Rallies Higher on Record German Business Climate Index
The EUR/USD currency pair today rallied higher after the release of an extremely high German IFO business climate index for the month of October. The currency pair’s rally was limited by the markets’ anticipation of the decision by the European Central Bank regarding the tapering of its quantitative easing program. The currency pair rallied by over 45 points to hit new highs around 1.1800, despite a slight pullback after the release of US data. The euro rallied higher […]
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October 252017
EUR/USD Rallies Higher on Record German Business Climate Index
The EUR/USD currency pair today rallied higher after the release of an extremely high German IFO business climate index for the month of October. The currency pair’s rally was limited by the markets’ anticipation of the decision by the European Central Bank regarding the tapering of its quantitative easing program. The currency pair rallied by over 45 points to hit new highs around 1.1800, despite a slight pullback after the release of US data. The euro rallied higher […]
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