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Day: November 23, 2017
November 232017
Dollar Stabilizes After Wednesday’s Sell-Off
The US dollar stabilized after yesterday’s sell-off caused by mixed macroeconomic reports and minutes of the October-November policy meeting of the Federal Open Market Committee. FOMC members voiced concern about sluggish inflation but had mixed view on how that should affect monetary policy. Some argued that it warrants more gradual monetary tightening: A number of these participants were worried that a decline in longer-term inflation expectations would […]
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November 232017
Euro Lifted by Positive Data During Thursday’s Trading
The euro rallied today thanks to the very positive macroeconomic reports released during the current trading session. The accounts of the monetary policy meeting released by the European Central Bank had no material impact on the markets, though they contained some interesting information. Almost all PMI reports for the euro-area released by IHS Markit today were better than expected, be it for Germany, France, or the whole eurozone. The only exception was the French […]
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November 232017
Canadian Dollar Declines Against US Dollar on Weak Retail Sales
The Canadian dollar today declined against its US counterpart after the release of weak Canadian retail sales data in the early American session. The Canadian dollar was slightly stronger against the US dollar earlier in today’s session as the USD/CAD currency pair extended yesterday’s decline following the dovish FOMC minutes. The USD/CAD currency pair opened today’s session on a downtrend where it hit a low of 1.2675 before the release of the retail sales. […]
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November 232017
GBP/USD Tumbles to New Lows on UK GDP Data
The GBP/USD currency pair lost all its early gains and tumbled to new session lows after the release of UK GDP growth estimates, which were in line with expectations. The currency pair was on track to retrace some of the gains made during the previous session as the pair had rallied on weak US data. The GBP/USD currency pair lost over 50 points to hit a daily low of 1.3284 after the release of the GDP data. […]
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November 232017
NZ Dollar Recovers After Disappointing Retail Sales
The New Zealand dollar rose during Thursday’s quiet trading. The currency weakened following the release of disappointing retail sales data, but quickly recovered. New Zealand retail sales rose just 0.2% in the September quarter from the previous three months versus the forecast increase of 0.4% and the previous quarter’s growth of 1.8%. The core components of the indicator rose by 0.5%, compared to the predicted increase of 0.9% and the gain by 1.9% registered in the previous reporting period. […]
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