Day: December 12, 2017

December 12
2017

EUR/USD Drops as Traders Wait for FOMC, PPI Shows Stable Growth

EUR/USD dropped today as US producer inflation remained stable. Now, traders focus on the meeting of the Federal Open Market Committee. The FOMC started the two-day gathering today and will announce its decision tomorrow. It is widely expected that the Committee will raise interest rates further. PPI rose 0.4% in November, seasonally adjusted, in line with expectations and the same as in October. (Event A on the chart.) Treasury budget deficit widened from […]

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December 12
2017

NZ Dollar Extends Rally Fueled by RBNZ Governor Appointment

The New Zealand dollar extended yesterday’s rally today, rising for the third day in a row, as investors welcomed the news about the appointment of a new governor of the Reserve Bank of New Zealand. Yesterday, Finance Minister Grant Robertson appointed New Zealand Superannuation Fund chief Adrian Orr as a new RBNZ governor. Orr will take the post on March 27. Economists are a bit worried that the central bank will have limited capacity […]

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December 12
2017

Australian Dollar Continues Move up, Shrugging off Negative Data

The Australian dollar managed to maintain yesterday’s gains and even accelerated its move to the upside today even though macroeconomic reports released in Australia during the current trading session were rather disappointing. The Australian Bureau of Statistics reported that the House Price Index fell 0.2% in the September quarter from the previous three months, while analysts had expected an increase by 0.6%. The business confidence reported by National Australia Bank fell from […]

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