Day: November 24, 2017

November 24
2017

Euro Rallies to New Highs Against US Dollar on German IFO

The euro today rallied to new 6-week highs against the US dollar after the release of the German IFO business climate data for November. The euro seemed to ignore the ongoing political woes facing Angela Merkel in Germany even as the three-way coalition talks fell apart. The EUR/USD currency pair rallied by about 40 points from its daily low of 1.1835 to hit a high of 1.1875 after the release of the German IFO data. The release of the German […]

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November 24
2017

Accelerating Growth of Manufacturing Doesn’t Help Japanese Yen

The Japanese yen fell today even though Japan’s manufacturing sector was expanding with an accelerating pace this month. The Nikkei Flash Japan Manufacturing PMI climbed from 52.8 in October to 53.8 in November. That is instead of falling to 52.6 as was predicted by analysts. The index stood at the strongest level since March 2014. USD/JPY ticked up from 111.20 to 111.35 as of 8:30 GMT today, touching the high of 111.55 intraday. […]

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November 24
2017

NZ Dollar Falls as Trade Deficit Narrows Less Than Expected

The New Zealand dollar was soft today as the nation’s trade deficit narrowed last month but still came out above expectations. The New Zealand trade balance posted a deficit of NZ$871 million in October. While it was lower than the NZ$1,156 million figure in September, the actual value was above the forecast NZ$750 million. The growth of exports was led by milk powder, butter, and cheese, while the major component in the increase […]

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