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Day: November 22, 2017
November 222017
EUR/USD Rallies After Mixed Data, FOMC Minutes
EUR/USD rallied following the release of US durable goods orders today and continued to move up ever since. Not all reports in the United States were bad, but that did not prevent the currency pair from rallying. FOMC minutes did little to stop the rally despite mentioning another interest rate hike in the near future. Initial jobless claims dropped to 239k last week from the previous week’s revised […]
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November 222017
US Dollar Loses Ground Against Euro as Orders of Durable Goods Miss Estimates
The US dollar retreated against the euro on Wednesday to its lowest level in two days following a data release that revealed lower than expected demand for durable goods in October. Investors are now anticipating the minutes of the Federal Open Market Committeeâs latest monetary policy meeting, which is due to be published later today. The US Census Bureau published its monthly report on manufacturersâ shipments and orders earlier today. […]
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November 222017
British Pound Rallies Against US Dollar on Weak US Data
The British pound today rallied to new highs against the US dollar after the release of disappointing US durable goods orders. The pound had hit daily lows after the Chancellor of the Exchequer, Philip Hammond released the government’s Autumn Budget 2017. The GBP/USD currency pair gained over 60 points from its daily low hit after the release of Autumn budget, to trade at daily highs above 1.3270 boosted by the release of the weak […]
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November 222017
Australian Dollar Soft Despite Positive Reports
The Australian dollar fell today despite positive macroeconomic data. Minutes of a monetary policy meeting released by the Reserve Bank of Australia yesterday were somewhat dovish, adding to the pressure on the currency. The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index rose from â0.02% in September to +0.44% in October. Construction work done climbed by 15.7% in September from the previous three months instead of falling by 2.1% as was predicted. The RBA released […]
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