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Day: October 31, 2017
October 312017
EUR/USD Flat as US Politics Diminish Impact of Good Economic Reports
EUR/USD traded almost flat on Tuesday as the Federal Open Market Committee started its two-day policy meeting. Economic reports released in the United States over the day were universally good, but that did not result in a rally of the dollar versus the euro. One of possible reasons for that were political tensions in the United States. Another one was concerns that the most likely candidate for the Federal Reserve Chair post Jerome […]
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October 312017
US Dollar Struggles to Rise Against Euro Despite Strong Consumer Confidence
The US dollar traded within a tight range against the euro on Tuesday despite a strong reading for consumer confidence in the United States. The greenback struggled to move higher today as mixed data in the eurozone gave enough support for the shared currency to hold its ground. The Conference Board released a fresh report on consumer confidence in October, which showed that the consumer confidence index rose to 125.9 this month from 120.6 in September. Analysts had […]
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October 312017
US Dollar Struggles to Rise Against Euro Despite Strong Consumer Confidence
The US dollar traded within a tight range against the euro on Tuesday despite a strong reading for consumer confidence in the United States. The greenback struggled to move higher today as mixed data in the eurozone gave enough support for the shared currency to hold its ground. The Conference Board released a fresh report on consumer confidence in October, which showed that the consumer confidence index rose to 125.9 this month from 120.6 in September. Analysts had […]
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October 312017
Canadian Dollar Declines Against US Dollar on Weak GDP Data
The Canadian dollar today declined against its US counterpart after the release of Canada’s GDP data for August causing the USD/CAD currency pair to hit new highs. Other releases from the US docket such as the consumer confidence index for October, which beat expectations, served to boost the US dollar against its Canadian peer. The USD/CAD currency pair rallied by over 90 points from its daily lows to hit a high […]
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October 312017
Canadian Dollar Declines Against US Dollar on Weak GDP Data
The Canadian dollar today declined against its US counterpart after the release of Canada’s GDP data for August causing the USD/CAD currency pair to hit new highs. Other releases from the US docket such as the consumer confidence index for October, which beat expectations, served to boost the US dollar against its Canadian peer. The USD/CAD currency pair rallied by over 90 points from its daily lows to hit a high […]
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October 312017
EUR/USD Pair Trades Sideways on Conflicting Eurozone Data
The EUR/USD currency pair today traded sideways even as markets reacted to conflicting reports from the Eurozone regarding GDP growth and inflation levels. The release of the Eurozone GDP growth data for the third quarter boosted the pair as it beat expectations, while the Eurozone CPI data disappointed as it was lower than expected. The EUR/USD currency pair today traded in a 25-point range as the pair could not make a major break either higher […]
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October 312017
EUR/USD Pair Trades Sideways on Conflicting Eurozone Data
The EUR/USD currency pair today traded sideways even as markets reacted to conflicting reports from the Eurozone regarding GDP growth and inflation levels. The release of the Eurozone GDP growth data for the third quarter boosted the pair as it beat expectations, while the Eurozone CPI data disappointed as it was lower than expected. The EUR/USD currency pair today traded in a 25-point range as the pair could not make a major break either higher […]
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October 312017
Japanese Yen Weakens as Bank of Japan Maintains Stimulus Easing Stance
The Japanese yen weakened against other major currencies on Tuesday as the Bank of Japan kept its interest rates unchanged and maintained its position on stimulus easing. The nationâs central bank also updated its outlook for inflation in 2017 and 2018, while keeping the 2019 forecast without a change. Following its latest monetary policy meeting, the bank of Japan decided to keep the short term interest rate at minus 0.10%. Investors widely expected […]
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October 312017
Japanese Yen Weakens as Bank of Japan Maintains Stimulus Easing Stance
The Japanese yen weakened against other major currencies on Tuesday as the Bank of Japan kept its interest rates unchanged and maintained its position on stimulus easing. The nationâs central bank also updated its outlook for inflation in 2017 and 2018, while keeping the 2019 forecast without a change. Following its latest monetary policy meeting, the bank of Japan decided to keep the short term interest rate at minus 0.10%. Investors widely expected […]
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October 312017
Russian Ruble Falls Along with Crude Oil
The Russian ruble fell today, following the drop of crude oil — Russia’s main export. December contract for Brent crude, a global benchmark for oil prices, fell by 0.39% to $60.66 per barrel on the Intercontinental Exchange today. Meanwhile, the tax payment period at the end of the month has come to an end, leaving the ruble without support from exporters converting their profits into the local currency. On top of that, it is expected that Russian […]
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