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Day: February 20, 2018
February 202018
Loonie Extends Decline After Underwhelming Wholesale Sales
The Canadian dollar attempted to rise in the Tuesday session but failed and backed off. The currency extended its decline following the release of underwhelming wholesale sales data. Canadian wholesale sales fell 0.5% in December, the first decline in three months. Analysts had predicted an increase by 0.4%. The previous month’s gain was revised from 0.7% down to 0.3%. USD/CAD jumped from 1.2558 to 1.2642 as of 22:22 GMT today. EUR/CAD opened at 1.5579 […]
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February 202018
US Dollar Extends Rebound Ahead of FOMC Minutes
The US dollar extended its bounce after last week’s sell-off, rising today against most of its major rivals, though not the Great Britain pound. With no economic releases in the United States today, market analysts had to look elsewhere for explanation of the dollar’s rally. Many of them suggested that it was a safe haven buying as rising US Treasury yields after the Tuesday’s auction were threatening the stock […]
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February 202018
Euro Trades Lower Ignoring Mixed German ZEW Survey Data
The euro today was on a downtrend against the US dollar ignoring the release of mixed German ZEW survey data early in the European session. The single currency also did not respond to the release of positive German producer price index earlier in today’s session and continued to lose ground against the US dollar. The EUR/USD currency pair lost about 90 points to decline from an opening high of 1.2410 to hit a low of 1.2320. The euro was […]
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February 202018
NZ Dollar Gains on Rivals, Fails to Hold Ground vs. US Dollar
The New Zealand dollar behaved similarly to its Australian counterpart, rising at the start of today’s session, slumping afterwards, but recovering later. As a result, the kiwi maintained gains versus some of its rivals, though was unable to hold ground against the US dollar. The New Zealand output Producer Price Index rose 1.0% in the December quarter, while the input PPI increased by 0.9%. That is compared to the growth by 1.0% and 1.1% during […]
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February 202018
RBA Keeps Keeps Neutral Stance, Aussie Retreats from Daily High
The Australian dollar was rising at the start of the current trading session and continued to move higher for a short while after the release of policy minutes by the Reserve Bank of Australia. The currency slumped shortly afterwards, only to resume its rally later. Yet by now, the Aussie has come off the day’s highs, trimming its gains versus some currencies and losing them outright against the US dollar. As was expected, the RBA maintained its neutral […]
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