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Day: March 1, 2018
March 12018
US Dollar Weakens on US Trade Tariffs & Jerome Powell Testimony
The US dollar was moving up during the Thursday trading session but has lost its gains against basically all of its most-traded peers. There were two likely reasons for that: the announcement of US import tariffs and disappointment in the second testimony of the new Federal Reserve leader Jerome Powell. US President Donald Trump announced that the United States are going to impose duties of 25% on steel and 10% aluminum, […]
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March 12018
Swiss Franc Bounces on Risk Aversion, Unable to Beat EUR & JPY
The Swiss franc was falling today following the release of domestic macroeconomic data. The currency managed to reverse losses later thanks to risk aversion caused by announcement of import tariffs by the United States. The Swissie could not overcome the euro and the Japanese yen, though. Swiss gross domestic product rose 0.6% in the fourth quarter of the last year, meeting expectations. Retail sales dropped 1.4% in January from a year ago. That is compared […]
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March 12018
NZ Dollar Rallies vs. US Dollar in Thursday’s Trading
The New Zealand rose against its US peer today. While domestic macroeconomic data was good, it had little impact on the New Zealand currency, and the likely reason for its rally versus the greenback was the weakness of the US currency itself. The overseas merchandise trade index rose 0.8% in the December quarter from the previous three months, reaching the record high. The actual growth was faster than 0.5% predicted by analysts […]
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March 12018
Australian Dollar Extends Decline After Thursday’s Mixed Data
The Australian dollar extended decline today for the third consecutive session versus its US counterpart and for the fourth session against the euro and the Japanese yen. Economic data released in Australia on Thursday was mixed, while China’s manufacturing report was neutral. The Australian Industry Group Australian Performance of Manufacturing Index decreased from 58.7 to 57.5 in February, signaling about further expansion but at a slightly slower pace. Private capital expenditure fell […]
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March 12018
EUR/USD Bounces from Daily Lows After Powell’s Second Testimony
EUR/USD was moving down earlier today but bounced later and is now trading above the opening level. There were plenty of economic releases in the United States during the current trading session, but most of them were either within or better than expectations, with just a couple of missteps. That means the economic data is unlikely to be a source of the rebound. Whether the currency pair bounced sharply due to the disappointment […]
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March 12018
Euro Declines on Markit Eurozone PMI Data, Later Rebounds
The euro today traded lower against the US dollar after the release of mixed Markit PMI data from across the euro area in the early European session. The euro also headed lower shortly after the release of US personal consumption expenditure report in the early American session. The EUR/USD currency pair today traded in a tight range marked by a high of 1.2213 and a low of 1.2162, but had broken higher at the time of writing. The weak Markit […]
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