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Day: February 7, 2018
February 72018
Loonie Follows Crude Oil in Decline, Ignoring Increase in Building Permits
The Canadian dollar fell against its most-traded peers today (though not against the surprisingly soft euro) even after a report revealed that Canadian building permits climbed by more than two times the forecast amount in December. The likely reason for the drop was the decline of crude oil prices. Statistics Canada reported that the number of building permits climbed by 4.8% in December compared to 2.1% predicted by analysts. The increase followed the drop […]
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February 72018
EUR/USD Declines Despite German Coalition Deal
EUR/USD declined today even as German Chancellor Angela Merkel managed to secure a deal to form a coalition government. The dollar was extremely strong today even though there not many fundamental reasons for that. US crude oil inventories rose by 1.9 million barrels last week and were in the middle of the average range for this time of year. That is compared to the average forecast of 3.2 million and the previous week’s gain by 6.8 […]
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February 72018
Great Britain Pound Vulnerable Ahead of BoE Meeting on Thursday
The Great Britain pound was soft on Wednesday as traders were nervous ahead of the Bank of England policy meeting on Thursday. The currency fell against such rivals as the US dollar and the Japanese yen but managed to gain on its European peers, including the euro and the Swiss franc. The BoE will announce its decision at 12:00 GMT tomorrow. Experts predict no changes to the existing monetary policy, meaning that the main interest rate will […]
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February 72018
Euro Drops Against US Dollar Despite German Coalition Deal
The euro today dropped significantly against the US dollar despite Angela Merkel‘s CDU party reaching a coalition deal with the social democrats in the early European session. The euro’s initial decline was largely triggered by weak German industrial production data released earlier today. The EUR/USD currency pair lost over 70 points to drop from a daily high of 1.2406 to a low of 1.2324 at the time of writing. The currency pair’s initial decline […]
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February 72018
Australian Dollar Falls Despite Faster Growth of Construction Sector
Growth of the Australian construction industry accelerated last month, but that provided little support to the Australian dollar, which fell against its major rivals during the Wednesday’s trading session. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index climbed from 52.8 to 53.3 in January. The report signaled that the construction industry was experiencing growth for 12 months in a row. Yet the data released overnight […]
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February 72018
NZ Dollar Gets Boost from Employment Data, Struggles to Keep Gains
The New Zealand dollar climbed at the start of the current trading session following the release of surprisingly good employment data at the end of the previous session. But the currency has trimmed its gains against some rivals and lost them against others by now. The number of employed people in New Zealand increased by 0.5% in the December quarter from the previous three months. While the rate of growth slowed considerably from 2.2% the September quarter, it was […]
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