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Day: March 5, 2018
March 52018
Australian Dollar Gains After Volatile Session
The Australian dollar was rather volatile today. The currency rallied after somewhat mixed domestic macroeconomic data, fell following the release of a services sector report from China, but has recovered by now. The Australian Industry Group Australian Performance of Services Index, released overnight, showed a drop from 54.9 to 54.0 in February. The Melbourne Institute Inflation Gauge slipped 0.1% in February, month-on-month. The number of building approvals jumped by 17.1% in January […]
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March 52018
Euro Mixed After European Elections, Disappointing Economic Reports
The euro fell against the US dollar intraday but has managed to recover by now. Against other majors the shared 19-nation currency was mixed, rising against the safe currencies, like the Japanese yen, but falling versus the Great Britain pound. The major driver for the currency were European election on the weekend. Angela Merkel secured her fourth term as German Chancellor after the Social Democrats voted for a coalition deal with Merkel’s […]
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March 52018
Will FOMC Raise Interest Rate in March 2018?
Despite what you might think of Jerome Powell’s inclination to follow Janet Yellen’s steps, the question of whether the selected path of the monetary policy tightening will remain the same remains open at least until we see the first statement released under the new governance. Contents 1 Sentiment 2 Data 2.1 Core PCE 2.2 Unemployment 2.3 GDP 2.4 Balance sheet normalization 3 Speeches 4 Important releases […]
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March 52018
EUR/USD Recovers from Intraday Drop
EUR/USD dropped today but has almost recovered by now as the dollar remained under pressure from concerns about the planned US tariffs on steel and aluminum imports. The recovery paused for a short while following the release of decent reports about the US services sector but resumed fairly quickly. Markit services PMI climbed from 53.3 in January to 55.9 in February according to the final estimate. It was unrevised from the preliminary reading […]
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