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Day: December 6, 2017
December 62017
EUR/USD Continues Move Down as Traders Wait for Tax Overhaul
EUR/USD continued its move down today as traders were waiting for US politicians to proceed with the tax reform. Analysts also said that the rally was a result of US companies wanting to repatriate cash parked overseas before the year-end. As for US economic data, the ADP employment report came within expectations, and traders wait for Friday’s nonfarm payrolls. ADP employment rose by 190k in November, in line with market expectations. The indicator […]
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December 62017
USD/CAD Rallies Higher on BoC Rate Decision
The USD/CAD rallied higher by over 100 points after the Bank of Canada released its monetary statement leaving interest rates unchanged at 1.00%. The US dollar rallied against the commodity-linked loonie even as global oil prices traded at daily lows. The USD/CAD currency pair rallied by over 130 points from a daily low of 1.2649 to hit a high of 1.2787 after the BoC statement and was on an uptrend at the time of writing. The currency pair had […]
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December 62017
EUR/USD Slumps to New Lows on Mixed Eurozone and ADP Data
The EUR/USD currency pair today slumped to new lows from daily highs set in the late Asian session, despite a raft of positive data from the Eurozone. The release of upbeat German factory orders for the month of October in the early European session could not lift the single currency. The EUR/USD currency pair declined from its daily high set in the Asian session of 1.1848 to hit a low of 1.1800 and was on a downtrend at the time of writing. The currency […]
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December 62017
Pound Slides as Concerns About Brexit Negotiations Grow
The Great Britain pound slumped today amid concerns about obstacles in the Brexit negotiations between the United Kingdom and the European Union. The sterling was vulnerable after talks between British Prime Minister Theresa May and European Commission President Jean-Claude Juncker fell apart yesterday, though some analysts explained today’s drop also by profit-taking after the recent rally. While investors generally count on at least some form of a deal, Brexit […]
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December 62017
Australian GDP Misses Expectations, Aussie Moves Lower
The Australian dropped during the current trading session as Australia’s economic growth missed expectations. Gross domestic product rose 0.6% in the September quarter of 2017 from the previous three months on a seasonally adjusted basis. The increase was a bit below the median forecast of 0.7% and the previous quarter’s revised growth of 0.9%. With that said, the reading was still rather solid, making losses of the Australian dollar limited against most currencies. AUD/USD […]
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