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Day: January 11, 2018
January 112018
EUR/USD Rallies on ECB Meeting Account and Poor US Data
The euro rallied versus the US dollar immediately after the December ECB meeting accounts have been made public (event A on the chart). The account turned out to be more hawkish compared to what the market participants had expected. The currency pair then continued to grow following the poor macroeconomic data from the USA. Producer price index (PPI) fell by 0.1% in December instead of rising by 0.2% in accordance with the median forecast. November […]
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January 112018
Euro Rallies Higher on ECB Minutes and Weak US Data
The euro today rallied to new highs against the US dollar after the European Central Bank released the minutes of its last meeting. The single currency rallied much higher during the early North American session after the release of weak US macro data. The EUR/USD currency pair gained over 100 points to rally from a low of 1.1928 hit in the early European session to reach a high of 1.2060 in the early American session. The release […]
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January 112018
US Dollar Retreats as Economic Data Reveals Signs of Lagging Inflation
The US dollar declined against the euro on Thursday following economic data in the United States that showed a small drop in prices at factory gates, which is an important indicator of inflation. The greenback also retreated against the British pound, despite the lack of positive releases in the United Kingdom today. US producer prices dropped for the first time in about one and a half years in December, according to a fresh report from the Bureau of Labor Statistics. The producer […]
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