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Day: November 27, 2017
November 272017
Canadian Dollar Drops, Following Crude Oil
The Canadian dollar fell on Monday, following the sharp decline of North American crude oil. The week ahead have several important events in store for the currency, especially on Friday. The loonie dropped as North American crude oil lost more than 1% of its value on Friday. One of the reasons for the drop was news about reopening of the Keystone Pipeline, which brings crude from Canadian oilfields to US refineries. Oil is the major export […]
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November 272017
Dollar Erases Earlier Losses on Monday, Unable to Outperform Yen
The US dollar started the week soft, falling against basically all its major peers. But the greenback managed to turn the momentum up following the release of a very positive housing report. Now, the US currency trades either higher, or at least flat versus most of rivals, though the Japanese yen was a major exception. With plenty of events ahead during the week, investors were reluctant to purchase the dollar. Yet the US housing […]
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November 272017
EUR/USD Erases Gains After US New Home Sales Data
EUR/USD attempted to rally today but erased gains following the release of a US new home sales report. The data showed that the sales climbed to the highest level in a decade. This week should be much more eventful than the previous one, which was light on news due to the Thanksgiving holiday in the United States. This week, on the other hand, will have plenty of events that should be important to the US dollar. […]
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November 272017
South African Rand Jumps More Than 2%
The South African rand jumped more than 2% versus the US dollar today after plunging 2% on Friday. The rand reached the highest level in a month and demonstrated the biggest jump in more than eight months. The moves of the currency was a reaction to decisions of rating agencies. The rand slumped on Friday after Standard & Poor’s downgraded South Africa’s sovereign credit rating to junk: The long-term local currency sovereign credit rating was […]
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