Day: December 19, 2017

December 19
2017

EUR/USD Rallies, Ignoring Data from United States & Eurozone

EUR/USD rallied today. That was a surprise, considering that the economic data in the eurozone was disappointing, while all the US indicators released over the trading session were better than expected. Analysts explained such performance by doubts that the planned US tax reform will be helpful to the US economy in the long run. Both housing starts and building permits were at the seasonally adjusted annual rate of 1.30 million in November. […]

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December 19
2017

GBP/USD Tumbles to New Lows on Positive US Housing Data

The GBP/USD currency pair today tumbled to new session lows after the release of positive US housing starts data for November. The currency pair was on a downtrend for most of the European session given the empty UK economic docket. The GBP/USD currency pair today declined by over 70 points from a daily high of 1.3403 to hit a low of 1.3330 after the US housing data release. The British pound was on a downtrend against the US dollar […]

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December 19
2017

Aussie Rises After RBA Minutes, Struggles to Maintain Gains

The Reserve Bank released minutes of its latest policy meeting today. The notes had both good and bad things to mention. It appears that markets paid more attention to the good part as the Australian dollar rose against most of its major peers, with the exception of the euro. With that said, the Aussie struggled to maintain gains. The RBA expressed a positive outlook for employment, inflation, and household debt. It said that wage […]

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December 19
2017

German Business Climate Index Misses Expectations, Euro Unfazed

The euro rose against other most-traded currencies today. That was surprising, considering that economic data released in the eurozone today, namely the German business climate, missed expectations. The Ifo Business Climate Index slid to 117.2 in December, seasonally adjusted, from the record high level of 117.6 in November, whereas analysts had expected it to stay unchanged. The data was mixed as the index for the current conditions actually improved, and it is […]

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