EUR/USD traded in a range for the most part of the current trading session but jumped after the release of the US inflation report. While the CPI data was in line with expectations, analysts argued that it did not provide incentive for the Federal Reserve to hike interest rates with faster pace. And that disappointed those dollar bulls who were betting on more aggressive monetary tightening from the Fed. CPI rose 0.2% […]
Read moreThe EUR/USD currency pair today rallied to new highs after President Trump fired Rex Tillerson as Secretary of State and nominated Mike Pompeo the CIA Director as his replacement. The pair was on an uptrend from the early European session after the European Central Bank‘s Governing Council member, Philip Lane hit the wires stating that the bank was not worried about the euro’s current level. The EUR/USD currency pair gained over […]
Read moreThe Japanese yen slumped against basically all most-traded currencies today. At the present time, it is hard to say whether it is because of the poor macroeconomic data or the political scandal. The Producer Price Index rose 2.5% in February from a year ago, matching expectations but slowing from the previous month’s 2.7% growth. The Indices of Tertiary Industry Activity fell 0.6% in January from December, missing the average forecast of a 0.2% […]
Read moreThe Australian dollar dropped today against its most-traded rivals, though not against the extremely weak Japanese yen, even as Australia’ business conditions index reached a record high. Yet by now, it looks like the currency managed to pare its losses. The National Australia Bank reported that the business conditions index climbed from +18 to +21 in February, reaching a record high. At the same time, the business confidence index declined […]
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