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Day: November 30, 2017
November 302017
US Dollar Threatened by Uncertainty Associated with US Politics
The US dollar was vulnerable on Thursday as tumultuous US politics overshadowed positive macroeconomic data released in the United States over the trading session. Economic reports released on Thursday were rather good. In particular, core PCE inflation, the indicator closely watched by the Federal Reserve, was stable at 1.4% in October on an annual basis. That led to speculations that the Fed will be more hawkish with its monetary policy going forward. […]
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November 302017
Australian Dollar Mixed Despite Supportive Macroeconomic Data
The Australian dollar was mixed during Thursday’s trading despite supportive macroeconomic data, both domestic and released in the nation’s biggest trading partner, China. Australian private capital expenditure rose 1.0% in the September quarter from the previous three months on a seasonally adjusted basis, in line with expectations. Building approvals rose 0.9% in October from September, seasonally adjusted, whereas analysts had predicted a drop by the same amount. Private sector […]
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November 302017
NZ Dollar Drops with Falling Business Confidence
The New Zealand dollar fell after the disappointing print of the nation’s business confidence, which a pessimistic outlook in all sectors of the economy. The ANZ Business Confidence dropped from -10.1 in October to -39.3 in November. The report commented on the reading: Uncertainty around changing Government policy, a softer housing market, and difficulty getting credit are likely culprits. Now, traders wait for the trade data due for release at 21:45 GMT today. NZD/USD dropped […]
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November 302017
EUR/USD Jumps Despite Positive US Data
EUR/USD jumped today even though all macroeconomic reports released in the United States over the trading session were either good, or at least better than expectations. Nevertheless, the dollar was weak across the board. Analysts attributed that to tumultuous US politics, like the heated debates about the tax reforms or the news about replacement of the Secretary of State. Initial jobless claims were at the seasonally adjusted level of 238k last week, a bit […]
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November 302017
Swiss Franc Mixed After Economic Data
The Swiss franc was mixed today, rising against some currencies, falling against others, and staying flat versus the US dollar. That was not surprising, considering that Switzerland’s economic data released over the trading session was mixed as well. Swiss gross domestic product rose 0.6% in the third quarter of this year, in line with expectations and accelerating from the second quarter’s revised 0.4% rate of growth. The KOF […]
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November 302017
Euro Rallies to New Highs Against US Dollar on PCE Data
The EUR/USD currency pair today rallied to new highs after the release of US Personal Consumption Expenditure report in the early American session. The currency pair had been trending downwards after the release of the Eurozone Consumer Price Index, which was below expectations. The EUR/USD currency pair rallied by over 100 points from its daily low of 1.1809 to hit a high of 1.1912 and was on an uptrend at the time of writing. The currency pair hit […]
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November 302017
British Pound Rises to Highest Level in Two Months on Strong Housing Market
The British pound rose to the highest level against the US dollar in more than two months on Thursday, as home prices rose more than expected in the United Kingdom. The British currency also touched its best level against the euro in a month following disappointing inflation data in the European Union. The Nationwide Building Society released a report earlier today that stated that the house price index rose 0.1% on a monthly basis in November […]
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