Day: February 13, 2018

February 13
2018

Dollar Soft Ahead of Inflation Data Released on Wednesday

The US dollar retreated versus its most-traded peers today as market participants were waiting for Wednesday’s important economic reports from the United States, including inflation data. Information about growth of consumer prices can affect the pace of monetary tightening by the Federal Reserve. Analysts predicted that tomorrow’s data will show an increase of the Consumer Price Index by 0.3% in January, up from 0.1% in December. Yet the core CPI is […]

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February 13
2018

Japanese Yen Logs Sharp Gains on Tuesday

The Japanese yen logged sharp gains against basically all of most-traded currencies during the Tuesday’s trading session. Analysts speculated that Bank of Japan Governor Haruhiko Kuroda will be appointed for a second term, though Japanese Prime Minister Shinzo Abe did not confirm that yet. While Kuroda ushered an era of extremely loose monetary policy, markets were counting on monetary tightening in the relatively near future even […]

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February 13
2018

GBP/USD Rallies Higher on UK Inflation Data, Later Declines

The GBP/USD currency pair today rallied higher after the release of UK inflation data for January as measured by the consumer price index. The currency pair later declined as the US dollar gained strength across the board, but did not give back all its gains. The GBP/USD currency pair gained over 90 points from an initial low of 1.3831 to hit a high of 1.3925, then later declined to an intra-day low of 1.3851. The currency […]

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February 13
2018

Rand Gains on News About Possible End to President Zuma’s Rule

The South African rand gained on the US dollar today after news broke out that President Jacob Zuma, who was in power since 2009, may lose his post. Zuma has lost leadership of the ruling African National Congress party back in December. Now, there are rumors that the ANC asked Zuma to resign or face a vote of confidence in the parliament. Analysts believe that he will very likely […]

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February 13
2018

Australian Dollar Steady vs. US Dollar, Tumbles vs. Euro & Yen

The Australian dollar held steady against its US counterpart but dropped against the euro and crashed versus the Japanese yen today. Today’s macroeconomic data in Australia was positive, but comments from central bank’s officials were not that good for the currency. National Australia Bank business confidence index rose from +10 to +12 in January, touching the highest level since April. Experts had anticipated it to stay […]

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