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Day: January 26, 2018
January 262018
EUR/USD Resumes Rally After Losing Thursday’s Gains
EUR/USD resumed its upward movement today after losing its gains yesterday. The currency pair retreated after US President Donald Trump said that he wants stronger dollar. Today, EUR/USD rebounded, though is struggling to keep gains right now. Advance estimate for US GDP showed growth by 2.6% in Q4 2017. That was below the average forecast of a 3.0% increase and the 3.2% growth registered in Q3. […]
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January 262018
Canadian Dollar Firm Despite Falling CPI
The Canadian dollar rose against some of its major peers today, including the US dollar and the euro, though not all of them, falling versus the Japanese yen. The currency was relatively firm despite the bigger-than-expected drop of consumer prices. The Consumer Price Index fell 0.4% in December from the previous month (not adjusted for seasonal variations) after rising 0.3% in November. Economists had counted on a smaller 0.3% decrease. The core components […]
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January 262018
US Dollar Weakens Against Euro As Q4 Economic Growth Disappoint Estimates
The US dollar weakened against the euro on Friday in the wake of a disappointing reading for gross domestic product growth in the fourth quarter of 2017. The greenback failed to find support despite a positive upturn in durable goods orders and a strong overall economic performance in 2017. The US Bureau of Economic Analysis released a report on economic growth in the fourth quarter of 2017 today. The report revealed that gross domestic product grew by 2.6% in the final quarter of the last year, […]
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January 262018
Pound Rallies Against US Dollar on Upbeat UK GDP Data
The British pound today rallied higher against the US dollar after the release of UK preliminary GDP data for the fourth quarter of 2017. The GDP report indicated that the UK economy grew at an accelerated pace beating expectations, which triggered the rally. The GBP/USD currency pair gained over 135 points from its opening low of 1.4146 to hit a high of 1.4285. The currency pair begun its recovery from yesterday’s losses in the Asian […]
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January 262018
Japanese Yen Mixed After Release of Inflation Data
The Japanese yen rose against the US dollar but fell versus other most-traded currencies today after the release of inflation data. Japan’s core Consumer Price Index was up 0.9% in December from a year ago, the same as in November and in line with market expectations. The Tokyo core CPI rose 0.7% in January, while experts had expected the same 0.8% as in December. Bank of Japan Governor Haruhiko Kuroda will speak […]
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