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Day: March 16, 2018
March 162018
EUR/USD Declines for Third Day as Markets Prepare for Fed Hike
EUR/USD fell for the third day in a row despite turmoil in the US government. The dollar got some support from today’s macroeconomic reports, which were good for the most part, with the exception of the housing data. But the most important reason for the greenback’s rally was anticipation of an interest rate hike from the Federal Reserve next week. Housing starts and building permits fell in February. Housing starts were at the seasonally adjusted annual rate […]
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March 162018
USD/CAD Rallies Higher on Mixed US Releases
The USD/CAD currency pair today rallied slightly higher as the Canadian dollar weakened against its US counterpart following mixed US macro releases. The loonie was largely weaker against the greenback despite slightly positive crude oil prices, which usually boost the currency. The USD/CAD currency pair today rallied slightly higher from a low of 1.3043 to a high of 1.3098, but was unable to break above the crucial 1.3100 psychological […]
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March 162018
EUR/USD Declines Despite Weak US Housing Data
The EUR/USD currency pair declined significantly after the release of weak US housing data. The currency pair ignored the disappointing US housing report as investor sentiment towards the pair shifted in favor of the greenback leading to the pair’s decline. The EUR/USD currency pair lost over 50 points to decline from a high of 1.2336 to a low of 1.2280 at the time of writing. The currency pair was on an uptrend from the beginning of today’s session as the euro recovered from yesterday’s […]
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March 162018
NZ Dollar Driven Down by Economic Data, Risk Aversion
The New Zealand dollar dropped today, joining other commodity-geared currencies in decline, driven down by domestic macroeconomic data as well as the general risk-averse market sentiment. The seasonally adjusted BusinessNZ Performance of Manufacturing Index fell from 54.4 to 53.4 in February. Still, the index was above the neutral 50.0 level, indicating that the sector continued to expand. Nevertheless, the report was not beneficial to the currency, which also suffered from the negative market […]
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March 162018
Australian Dollar Declines amid Trade War Concerns
The Australian dollar fell along with other commodity currencies today amid concerns about the planned tariffs in the United States that may hamper global growth. Most economists believe that protectionism is detrimental to economy. Therefore, the prospect for trade wars led to concerns among investors, which make them less willing to purchase riskier currencies linked to raw materials. But the Aussie was especially vulnerable as it looks […]
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