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Day: February 28, 2018
February 282018
EUR/USD Extends Decline Despite Poor US Data
EUR/USD extended yesterday’s decline as markets welcomed the testimony of the new Federal Reserve chief Jerome Powell. The currency pair fell even as today’s macroeconomic data in the United States was not that hot, though the decline was limited and the pair is trying to rebound right now. US GDP rose by 2.5% in Q4 2017 according to the preliminary (second) estimate, slowing from the growth of 3.2% in Q3. The actual reading was in line […]
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February 282018
EUR/USD Declines on Eurozone Releases and US GDP Report
The EUR/USD currency pair today traded lower following the release of the German GfK consumer confidence survey retracing all the gains made in the Asian session. The currency pair posted more losses after the release of the US Q4 GDP data in the early American session and was on track to book a second consecutive losing session. The EUR/USD currency traded in a 56-point range between a high of 1.2242 and a low of 1.2186. The currency pair rallied higher during […]
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February 282018
NZ Dollar Drops Despite Improving Business Confidence
The New Zealand dollar declined today. The currency fell even as the business confidence improved, though remained in the negative territory. The ANZ business confidence index rose from -37.8 in January to -19.0 in February. That means that a net 19% of businesses are pessimistic about the year ahead. The report stated: We may not have a lot of altitude just yet, but weâre off the end of the ski jump and no longer heading […]
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February 282018
British Pound Slumps to New Lows on Tough EU Brexit Stance
The British pound today dropped to new lows against the US dollar after the European Union released a tough draft Brexit withdrawal agreement. The UK Prime Minister rejected the deal saying that no UK leader would ever sign such a one-sided deal with the EU triggering a massive sell-off in the cable. The GBP/USD currency pair lost over 100 points to decline from a high of 1.3917 to a low of 1.3807 in the mid-European session. […]
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