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Day: February 27, 2018
February 272018
EUR/USD Drops After Powell’s Testimony, Positive US Data
EUR/USD dropped today following the testimony of the new Federal Reserve Chairman — Jerome Powell. He signaled that the Federal Reserve will proceed with monetary tightening, though he did not mention more aggressive pace of tightening. As for US economic data, it was mixed. Nevertheless, the currency pair accelerated its decline after the release of positive indicators, namely the consumer confidence and the Richmond Fed manufacturing index. Durable goods […]
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February 272018
Euro Drops to New Lows on Weak German Inflation Report
The euro today dropped to new lows against the US dollar after the release of weak German preliminary CPI data in the mid-European session. Several disappointing releases from the US docket in the early American session could not reverse the euro’s decline against the greenback. The EUR/USD currency pair lost over 100 points from a daily high of 1.2346 to trade at a low of 1.2242 at the time of writing. The currency pair’s massive decline was triggered […]
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February 272018
Hungarian Forint Drops After Central Banks Stays Put
The Hungarian forint fell today after Hungary’s central bank left all of its interest rates unchanged and promised to keep monetary policy accommodative for a long period of time. The Magyar Nemzeti Bank left its main interest rate at 0.9%, keeping other rates unchanged as well. The bank said in its statement: In the Councilâs assessment, maintaining the loose monetary conditions for an extended period are necessary to achieve the inflation target in a sustainable manner. […]
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February 272018
NZ Dollar Drops After Trade Balance Turns to Deficit
The New Zealand dollar fell today following the release of New Zealand’s trade data overnight even though the report was better than forecasts. The New Zealand trade balance showed a deficit of NZ$566 million in January after logging a surplus of NZ$596 million in December. The actual gap was nowhere near the forecast shortage of NZ$2,710 million. On the other hand, it was the biggest January deficit since 2007. NZD/USD dropped from […]
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