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Day: February 8, 2018
February 82018
USD/MXN Rises a Little After Mexican Central Bank Raises Key Rate
The Mexican peso slipped a bit against the US dollar during the American trading session after Mexico’s central bank raised its overnight interbank funding rate. The Banco de Mexico lifted its key interest rate by 25 basis points to 7.5%. Such move was widely expected by experts. The central bank increased borrowing costs as a measure to combat rising consumer prices after annual inflation climbed to 6.77% in December — […]
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February 82018
Canadian Dollar Soft Ahead of Friday’s Employment Report
The Canadian dollar fell against basically all of its most-traded counterparts following the release of mixed macroeconomic data earlier today. Additionally, some market analysts explained the currency’s weakness by traders being cautious ahead of tomorrow’s jobs data. The Canada Mortgage and Housing Corporation reported that the number of housing starts was at 216,210 in January, almost unchanged from the figure of 216,275 registered in December. Meanwhile, Statistics Canada revealed that the New […]
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February 82018
Pound Rallies Against US Dollar on Hawkish BoE Rate Hold
The British pound today rallied to new highs against the US dollar after the Bank of England held interest rates at the same level. The pound’s rally was largely influenced by the hawkish stance taken by the BoE as it stated that interest rates should rise at a faster rate this year than was previously expected. The GBP/USD currency pair gained over 200 pips to rally from a low of 1.3848 to a high of 1.4067, crossing […]
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February 82018
Aussie Weakens After Starting Session Strong
The Australian dollar started the current trading session strong but eased down since then, trimming gains against some rivals and losing them completely against others. The business confidence index reported by the National Australia Bank fell from +8 to +6 in the December quarter. The trade balance surplus of China, Australia’s biggest trading partner, narrowed sharply in January. It is not necessarily a bad sign for the Australian economy as that […]
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February 82018
NZ Dollar Soft After RBNZ Meeting, Tries to Crawl Back
The New Zealand dollar started the current trading session soft following the monetary policy meeting of the Reserve Bank of New Zealand at the end of the previous session. But the currency managed to trim losses against some rivals by now and erase them outright against others. The RBNZ left its main interest rate at 1.75% as was widely expected. Yet the markets considered the central bank’s policy statement to be rather dovish as it concluded […]
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