Day: January 3, 2018

January 3
2018

EUR/USD Slips as US Economic Data Supports Greenback

EUR/USD fell today as economic reports released in the United States in the course of the trading session beat market expectations. FOMC policy minutes had no big revelations, but the currency pair slid after they were released nonetheless. ISM manufacturing PMI climbed from 58.2 in November to 59.7 in December, while analysts had expected the index stay little changed. (Event A on the chart.) Construction spending rose 0.8% in November from […]

Read more
January 3
2018

Swiss Franc Falls vs. Dollar & Euro Following Manufacturing PMI

The Swiss franc fell against the US dollar and the euro today despite the better-than-expected manufacturing report released in Switzerland during the trading session. The manufacturing Purchasing Managers’ Index reported by Procure was at 65.2 in December, little changed from the November’s level of 65.1. That is instead of falling to 64.6 as analysts had predicted. Yet it did not help the Swissie, which fell against most of its major peers. USD/CHF rallied […]

Read more
January 3
2018

British Pound Falls as Construction Activity Declines in December

The British pound fell against most of its major peers on Wednesday following a fresh release that showed a drop in activity within the construction sector in the last month of 2017. The British currency further weakened against the US dollar as traders anticipated the minutes of the last Federal Open Market Committee’s meeting. The Chartered Institute of Purchasing and Supply, which releases a monthly report on construction activity in the United Kingdom, said today that the sector saw […]

Read more
January 3
2018

Euro Trades Lower Against US Dollar Ahead of FOMC Minutes

The euro today traded lower against the US dollar amid a broad-based greenback recovery for most of today’s session. The single currency was largely unaffected by the positive German employment data released by the Federal Statistical Office. The EUR/USD currency pair lost over 50 points from today’s high of 1.2065 to hit a low of 1.2010 during the mid-European session. Several factors contributed to the euro’s decline, chief among them being the positive sentiment […]

Read more