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Day: November 28, 2017
November 282017
Sterling Reverses Losses on Report About Breakthrough in Brexit Talks
The Great Britain pound rose sharply today, reversing earlier losses, after the report that Britain and the European Union have reached a major breakthrough in the Brexit negotiations. The sterling has been vulnerable today, but that changed after the report from the Telegraph that Britain and the EU made an outline deal about the Brexit bill. It looks like the sides achieved an agreement about the amount of money Britain needs to pay for leaving […]
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November 282017
EUR/USD Extends Decline as US Data Surprises Positively
EUR/USD fell today, extending yesterday’s decline. All of reports released in the United States today were good and exceeded market expectations. Now, traders wait for the revised estimate of US gross domestic product in the third quarter of 2017 due for release tomorrow. Experts anticipate an upward revision of growth from 3.0% to 3.3%. S&P/Case-Shiller home price index rose 6.2% in September, above the analysts’ projection of 6.0% and the previous month’s increase of 5.8%. […]
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November 282017
US Dollar Firm, Supported by Economic Data
The US dollar was generally firm today following the release of positive macroeconomic indicators in the United States. The testimony of Fed Chair nominee Jerome Powell did little to disrupt markets, and it is expected that he will continue the policy of incumbent Chair Janet Yellen. Virtually all of Tuesday’s US reports were good, beating market expectations. House prices rose faster than anticipated, the manufacturing index demonstrated a surprising […]
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November 282017
USD/CAD Rallies Higher on BoC’s Financial System Review
The USD/CAD currency pair today rallied higher after the release of the Bank of Canadaâs Financial System Review. The currency pair was on an uptrend for most of today’s session mainly boosted by the negative sentiment around global oil prices given that the Canadian dollar is a commodity-linked currency. The USD/CAD currency pair rallied higher by over 70 points from its daily low to hit a high of 1.2824 in the American session. The release of the Canadian industrial […]
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November 282017
Euro Rallies Briefly Against US Dollar on Disappointing US Data
The euro today rallied higher briefly against the US dollar after the release of disappointing US advance goods trade balance in the early American session. The pair was on a downtrend for most of the European session despite the release of the OECD Economic Outlook report in the early European session. The EUR/USD currency pair rallied higher after the release of the US data to hit a high of 1.1900, which is a lower resistance level than its daily high […]
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November 282017
Pound Remains Pressed by Brexit Worries
The Great Britain pound declined today, continuing to be dragged down by worries about the Brexit. Today’s news looked positive for the sterling as British banks passed the stress test performed by the Bank of England. But BoE Governor Mark Carney warned that the situation may deteriorate in case of a messy Brexit: The combination of a disorderly Brexit, a severe global recession and stressed misconduct costs could result in more severe conditions than in the stress test. […]
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November 282017
Japanese Yen Stable During Quiet Tuesday Trading
The Japanese yen was mostly stable during quiet Tuesday trading following decent monthly performance. Traders were waiting for news that could determine the direction for the currency. The yen has rallied more than 2% against the US dollar during this month so far and gained on most other major currencies as well. The main drivers for the rally were decent Japanese economic data and speculations that the Bank of Japan may […]
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