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Day: March 22, 2018
March 222018
US Dollar Recovers After Sell-Off Caused by Fed Announcement
Today, the US dollar was recovering after yesterday’s sell-off caused by the policy announcement from the Federal Reserve. Initially, the greenback extended its decline during the current trading session but managed to reverse movement and is now trading above the opening level against almost all most-traded currencies, with the exception of the Japanese yen. As was expected, the Fed announced an interest rate hike by a quarter point to target the range of 1.5%-1.75% on Wednesday. […]
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March 222018
EUR/USD Fails to Maintain FOMC-Infused Rally
EUR/USD attempted to extend yesterday’s FOMC-infused rally today but failed. The possible reason for that were manufacturing and services reports for the eurozone released by Markit during the current trading session. Meanwhile, today’s US data was good for the most part. Initial jobless claims rose from 226k to 229k last week, whereas analysts had expected them to be little changed. (Event A on the chart.) Markit manufacturing PMI rose from […]
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March 222018
Pound Spikes Higher on BoE Rate Decision, Declines on Brexit Worries
The British pound today declined against the US dollar after the Bank of England left its monetary policy intact including the bank rate and the asset purchase program. The pound initially spiked higher following the BoE announcement, but quickly headed lower as investor sentiment towards the pound shifted on Brexit worries. The GBP/USD currency pair lost over 140 points to decline from a high of 1.4220 to trade at a low of 1.4075 at the time of writing. […]
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March 222018
AUD Doesn’t Join Rally vs. USD, Dragged Down by Employment Data
The Australian dollar was the only major currency that did not rise against the US dollar today. The reason for that was underwhelming employment data in Australia. The Australian Bureau of Statistics reported that employment grew by 17,500 jobs in February from January, seasonally adjusted, failing to meet market expectations of a 19,800 increase. What is more, the previous month’s increase was revised from 16,000 to 12,500. And on top of that, the unemployment […]
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March 222018
NZ Dollar Mixed, Pays Little Heed to RBNZ Policy Announcement
The New Zealand dollar was mixed today, rising against some currencies and falling versus others. The kiwi paid little attention to the policy announcement from the Reserve Bank of New Zealand, trading sideways following the decision. The RBNZ left its main interest rate at 1.75%, as was widely expected. The central bank made a pessimistic prediction about inflation in the policy statement: CPI inflation is expected to weaken further in the near term […]
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March 222018
EUR/USD Declines Sharply on Weak Eurozone Markit PMIs
The EUR/USD currency pair today declined sharply following the release of weak Eurozone Flash PMIs by IHS Markit in the early European session. The pair’s decline was triggered by disappointing PMI reports such as the Markit Germany Composite PMI, which came in below expectations. The EUR/USD currency pair lost over 80 points to decline from a high of 1.2390 to a low of 1.2307 at the time of writing. The currency pair opened today’s session on an uptrend following […]
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