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Day: December 14, 2017
December 142017
EUR/USD Jumps After FOMC, Core CPI Miss
EUR/USD rallied on Wednesday and remained elevated on Thursday due to news from the United States. Headline US inflation was within expectations, but the core figure missed forecasts. The Federal Open Market Committee hiked the benchmark interest rate as was expected, but there were two dissenters. And markets doubt that the FOMC will be able to perform three more hikes next year despite its projections. CPI rose […]
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December 142017
EUR/USD Drops After Release of Solid US Economic Reports
EUR/USD dropped today as almost all reports released in the United States over the trading session were good. The signs that the voting for the final version of the US tax reform bill may happen as soon as the next week also drove the currency pair down. Retail sales rose 0.8% in November, exceeding the median forecast of 0.3%. The previous month’s increase was revised from 0.2% to 0.5%. (Event A on the chart.) Import and export prices […]
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December 142017
USD/CAD Struggles to Rally Higher Despite Positive US Data
The USD/CAD currency pair today retraced some of its earlier gains despite the release of positive US advance retail sales data. The currency pair remained in a slight uptrend boosted by a sharp decline in global crude oil prices as tracked by the West Texas Intermediate. The USD/CAD currency pair retreated from its daily high of 1.2866 set during the European session to an intraday low of 1.2814, and struggled to rally higher in the early American session. […]
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December 142017
Pound Rallies on UK Retail Sales and Declines on BoE Decision
The British pound today rallied higher against the US dollar after the release of upbeat UK retail sales data for the month of November. The pound declined significantly from its daily highs after the Bank of England kept interest rates at their current levels as was expected. The GBP/USD currency pair rallied higher in the early European session to hit a daily high of 1.3466, but later declined after the BoE rate decision to an intraday […]
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December 142017
Euro Maintains Gains Against US Dollar as Manufacturing Activity Grows in December
The euro maintained its gains against the US dollar on Thursday following a series of data releases that revealed strong activity in the manufacturing sector throughout the European Union. However, the shared currency failed to remain strong against the British pound, which was supported by solid growth in UK retail sales last month. IHS Markit, a financial research firm that releases monthly readings for manufacturing activity in major economies, stated earlier […]
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December 142017
Yuan Gains on Dollar After China Releases Set of Solid Economic Indicators
The Chinese yuan gained in the US dollar today following the release of positive macroeconomic data in China. The National Bureau of Statistics of China reported that industrial production grew by 6.1%, fixed asset investment rose by 7.2%, and retail sales increased by 10.2% in November on year-on-year basis. All indicators were within expectations. The data suggested that the Chinese economy retains solid growth. USD/CNY fell by 0.16% to 6.6087 as of 12:00 GMT today. If you […]
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December 142017
Australian Dollar Boosted by Amazing Jobs Data
The Australian dollar gained on its most-traded rivals today after the surprisingly good employment report boosted the currency. Australian employment climbed by 61,600 in November, more than three times the forecast increase of 18,100. It was the biggest gain since October 2015. The increase was mainly a result of growth in full-time jobs. What is more the participation rose from 65.2% to 65.6% — the highest level in more than 6 years. The unemployment […]
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