Day: December 15, 2017

December 15
2017

EUR/USD Declines as Tax Reform Overshadows Economic Data

EUR/USD attempted to rally today but failed and dropped, even though almost all economic reports released in the United States were worse than expected. The possible reason for the drop were the signs that the Republicans were close to passing the US tax reform bill. NY Empire State Index fell from 19.4 in November to 18.0 in December. Analysts had promised a smaller decrease to 18.8. (Event A on the chart.) Industrial production rose […]

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December 15
2017

NZ Dollar Resumes Rally After Drop on Thursday

The New Zealand dollar fell on Thursday after four consecutive days of gains but resumed the rally on Friday thanks to the positive report released overnight. Business NZ released its Performance of Manufacturing Index as of 21:30 on Thursday. The index showed an increase from 57.3 to 57.7 in November. The reading above 50.0 indicates an expansion of the sector, and the index stayed above that level since October 2012. NZD/USD advanced from 0.6981 to 0.7006 as of 15:59 […]

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December 15
2017

Japanese Yen Trades Higher After Tankan Survey

The Japanese yen gained today following the release of the Tankan survey. The currency has trimmed gains against some of its rivals by now, but maintained the upward momentum against others. The Business Condition for larger manufacturers rose from 22 in the September quarter of 2017 to 25 in the December quarter, above the median forecast of 24. What is more, that level was the highest in 11 years. Meanwhile, the non-manufacturing index for large enterprises missed […]

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December 15
2017

GBP/USD Trades Sideways on Brexit Jitters and US Data

The GBP/USD currency pair today traded in a sideways range during the early European session given the empty UK economic docket. Much of the currency pair’s movement was in reaction to news concerning Brexit negotiations and yesterday’s US macro data. The GBP/USD currency pair was trading in a tight 36-point range establishing support at 1.3412 and a high at 1.3448 below the crucial 1.3450 resistance level. The currency pair spent the early part of the European session […]

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