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Day: November 15, 2017
November 152017
US Dollar Erases Earlier Losses Against Euro Despite Weak Consumer Spending
The US dollar erased earlier losses against the euro on Wednesday, even as lower than expected data for consumer spending on core retail items weighed on the US currency. The greenback received additional pressure from a big drop in manufacturing activity in New York. The US Census Bureau released a report earlier today on retail and food services sales, which showed a 0.2% increase to $486.6 billion in October on a seasonally adjusted basis. The increase followed […]
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November 152017
Japanese Yen Gains Even as Economic Growth Slows
The Japanese yen gained today even as the country’s economic growth missed expectations. Some analysts argued, though, that the data was not entirely bad, and this may explain the currency’s gains. Japan’s gross domestic product rose 0.3% in the third quarter of this year. That was a slower growth than the predicted 0.4% and the previous quarter’s 0.6%. Yet experts pointed out that was the seventh consecutive quarterly growth […]
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November 152017
Australian Dollar Falls as Wage Growth Stagnates
The Australian dollar fell today against its major rivals, though it has trimmed losses against some of them by now. The main reason was underwhelming wage inflation, though the falling consumer confidence was not helping the currency either. The Wage Price Index rose 0.5% in the September quarter from the previous three months. While it was the same rate of growth as in the June quarter, the increase was below the forecast […]
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November 152017
British Pound Declines Against US Dollar on UK Labour Report
The British pound today briefly rallied higher against the US dollar after the release of the UK employment data by the Office for National Statistics, which beat expectations. However, the rally was short-lived as the GBP/USD currency pair retraced all its gains within the same hour as markets reviewed the labor report. The GBP/USD rallied to hit a high of 1.3213 after the release of the UK labor report, but immediately declined by over 75 points to trade […]
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