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Day: March 15, 2018
March 152018
Canadian Dollar Fails to Find Support from Positive Fundamentals
The Canadian dollar dropped against its most-traded rivals today. That was puzzling considering that the employment report released during the trading session was good and crude oil prices rose. Automatic Data Processing reported that non-farm employment in Canada increased by 32,676 in February from January. Looking closer at the details about specific sectors, the biggest increase was registered in education and healthcare, while manufacturing showed the biggest decrease. […]
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March 152018
EUR/USD Drops on US Data, Fed Policy Outlook
EUR/USD dropped for the second day today, basically erasing gains caused by the previous two-day rally. One of the reasons for the drop was good US data. Another one was the fact that traders considered an interest rate hike from the Federal Reserve next week almost guaranteed. NY Empire State Index jumped from 13.1 to 22.5 in March, far above the projected figure of 14.9. (Event A on the chart.) Philadelphia Fed manufacturing […]
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March 152018
Dollar Receives Support from Fed Policy Outlook & Economic Data
The US dollar gained against the basket of major currencies today (though fell versus the Japanese yen) amid speculations that the Federal Reserve is going to raise interest rates next week. Positive macroeconomic data also provided support to the US currency. With the unexpectedly big jump of the Empire State Manufacturing Index, the increase of both import and export prices, and the drop of jobless claims, the vast majority of Thursday’s economic reports were […]
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March 152018
Norwegian Krone Gains as Norges Bank Hints at Interest Rate Hike
The Norwegian krone rallied today after the nation’s central bank kept its monetary policy without change but hinted at a possibility of an interest rate hike in the near future. The Norges Bank maintained its key interest rate at 0.5%, making no surprise. Unlike the Swiss franc, though, Norway’s currency reacted positively to the monetary policy announcement. The likely reason for that was the fact that the Norwegian central bank hinted at possibility […]
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March 152018
Swiss Franc Drops as SNB Keeps Monetary Stimulus
The Swiss franc slipped today after the nation’s central bank kept monetary policy unchanged and showed not intention to tighten its unconventional accommodative policy. The Swiss National Bank kept its interest rates unchanged in the negative territory, in line with market expectations. The central bank continued to complain about the strength of the franc, saying that “the Swiss franc remains highly valued.” As a result, the SNB pledged to continue intervening in the currency markets […]
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