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Day: February 16, 2018
February 162018
EUR/USD Retreats from Three-Year High
EUR/USD retreated from the highest level in three years. While positive US macroeconomic data released over the Friday’s session added to the downside momentum of the currency pair, most analysts believed that the reason for today’s decline was profit-taking ahead of Monday’s holiday in the United States. That means that the decline is likely to be short-lived. Both housing starts and building permits rose in January. Housing starts were at the seasonally adjusted […]
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February 162018
Pound Declines on Weak UK Retail Sales and US Housing Data
The British pound today declined against the US dollar following the release of weak UK retail sales data for January. The pound further weakened against the greenback after the release of better than expected US housing data in the early American session. The GBP/USD currency pair today declined by over 130 points from a high of 1.4145 to trade at a low of 1.4008 at the time of writing. The pound rallied higher during the Asian session, but entered […]
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February 162018
Australian Dollar Gains Despite RBA Governor Keeping Neutral Stance
The Australian dollar gained on its most-traded peers today even after Philip Lowe, Reserve Bank of Australia Governor, signaled that he sees no reason for hiking interest rates in the near future. Lowe predicted that the next move in interest rates will likely be hike, not cut: It is more likely that the next move in interest rates here will be up rather than […]
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February 162018
NZ Dollar Halts Rally After Manufacturing Data, Resumes Rise Later
The New Zealand dollar started a rally by the end of the previous trading session and extended it today. While the kiwi had halted the advance after the release of the manufacturing data, the currency has resumed its upward movement afterwards. The seasonally adjusted BusinessNZ Performance of Manufacturing Index rose from 51.1 in December to 55.6 in January. While the report looked good at first glance, BusinessNZ’s executive director for manufacturing Catherine Beard said that it […]
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