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Day: October 26, 2017
October 262017
Pound Falls as Optimism Caused by Strong GDP Growth Fades
The Great Britain pound fell against its major rivals (though not against the extremely weak euro) as optimism caused by yesterday’s better-than-expected economic data was replaced by caution ahead of the central bank’s meeting. Yesterday, a report of Britain’s gross domestic product revealed that UK economic growth in the last quarter was bigger than analysts had anticipated. That made market participants confident that the Bank of England will […]
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October 262017
Pound Falls as Optimism Caused by Strong GDP Growth Fades
The Great Britain pound fell against its major rivals (though not against the extremely weak euro) as optimism caused by yesterday’s better-than-expected economic data was replaced by caution ahead of the central bank’s meeting. Yesterday, a report of Britain’s gross domestic product revealed that UK economic growth in the last quarter was bigger than analysts had anticipated. That made market participants confident that the Bank of England will […]
Read more
October 262017
EUR/USD Sinks More Than 1% After ECB Meeting
EUR/USD has started a decline at about 5:30 GMT today and accelerated the move down after the European Central Bank meeting. (Event A on the chart.) The ECB cut the size of its monthly asset purchases from â¬60 billion to â¬30 billion starting in January, but extended the asset purchase program, which should have ended this year, till September 2018. While such decision was withing expectations, markets still considered […]
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October 262017
Euro Crashes Against US Dollar as ECB Slashes QE Program by Half
The euro today crashed against the US dollar after the European Central Bank announced that it would cut its quantitative easing program by half to â¬30 billion in 2018. The ECB also left interest rates at their current levels with Mario Draghi, the ECB President, expressing concern over a number of financial issues facing the Eurozone including low inflation rates. The EUR/USD currency pair went into a downward spiral […]
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October 262017
Euro Crashes Against US Dollar as ECB Slashes QE Program by Half
The euro today crashed against the US dollar after the European Central Bank announced that it would cut its quantitative easing program by half to â¬30 billion in 2018. The ECB also left interest rates at their current levels with Mario Draghi, the ECB President, expressing concern over a number of financial issues facing the Eurozone including low inflation rates. The EUR/USD currency pair went into a downward spiral […]
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October 262017
NZ Dollar Falls as Trade Deficit Refuses to Shrink
The New Zealand dollar fell today as the nation’s trade balance deficit was almost unchanged last month even though economists had promised it to shrink. The New Zealand trade balance posted a deficit of $1.1 billion in September, about the same as the August revised reading. The medium forecast had promised the gap to decrease to $0.9 billion. Today’s drop of the New Zealand dollar was the third consecutive daily fall versus the US […]
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October 262017
NZ Dollar Falls as Trade Deficit Refuses to Shrink
The New Zealand dollar fell today as the nation’s trade balance deficit was almost unchanged last month even though economists had promised it to shrink. The New Zealand trade balance posted a deficit of $1.1 billion in September, about the same as the August revised reading. The medium forecast had promised the gap to decrease to $0.9 billion. Today’s drop of the New Zealand dollar was the third consecutive daily fall versus the US […]
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October 262017
Swedish Krona Falls as Riksbank Doesn’t Plan Raising Interest Rates
The Swedish krona fell today as the nation’s central bank showed no signs of planning to raise interest rates in the near future. That is despite strong economic growth that pushed inflation close to the bank’s target of 2%. The Riksbank left its main interest rate unchanged at -0.5% as was widely expected. Talking about its plans for the future, the central bank stated that it “is expecting, as before, not to raise […]
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October 262017
Swedish Krona Falls as Riksbank Doesn’t Plan Raising Interest Rates
The Swedish krona fell today as the nation’s central bank showed no signs of planning to raise interest rates in the near future. That is despite strong economic growth that pushed inflation close to the bank’s target of 2%. The Riksbank left its main interest rate unchanged at -0.5% as was widely expected. Talking about its plans for the future, the central bank stated that it “is expecting, as before, not to raise […]
Read more