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Day: March 21, 2018
March 212018
EUR/USD Climbs After FOMC Keeps Dot Plot Unchanged
EUR/USD jumped today following the policy announcement by the Federal Open Market Committee. While the FOMC raised interest rates, as was widely expected, it retained its dot plot, meaning no fourth hike is projected for 2018. This was certainly a disappointment for dollar bulls, therefore the greenback retreated against its rivals after the announcement. US current account deficit increased to $128.2 billion in Q4 2017 from $101.5 […]
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March 212018
GBP/USD Rallies Higher on Positive UK Labour Market Report
The GBP/USD currency pair today rallied to new highs following the release of the UK labour market report for March. The report indicated that wages for workers in the UK had improved greatly, which shifted investor sentiment towards the pound, and triggered the pair’s rally. The GBP/USD currency pair today gained over 75 points to rally from an early low of 1.4000 to a high of 1.4079. The release of the UK labour market report by the Office for National Statistics […]
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March 212018
Positive Economic Data Fails to Support New Zealand Dollar
The New Zealand dollar fell against other major currencies and, similarly to its Australian counterpart, ignored domestic macroeconomic data, which was extremely good. Credit card spending rose 7.0% in February year-on-year and 0.7% month-over-month. The number of visitors arrived in New Zealand increased by 7% last month compared to the same period a year ago and by 2% from the previous month, showing a healthy state of the tourism sector, which is […]
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March 212018
Australian Dollar Falls Even as Leading Index Improves
The Australian dollar erased its intraday gains versus the US dollar and fell against other most-traded currencies today even as Australia’s leading indicators were improving. The Westpac-Melbourne Institute Leading Economic Index in Australia rose 0.3% in February from the previous month. The indicator was down 0.2% in January — the sharpest decline since December 2015. Yet today’s positive report failed to help the Aussie, perhaps because traders were nervous […]
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