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Day: March 29, 2018
March 292018
EUR/USD Slows Rally Ahead of Holiday
EUR/USD slowed its rally today as market were preparing for the Good Friday. Many US markets will be close for the holiday and trading volumes will be light. As for today’s US economic data, it was mostly decent with the exception of Chicago PMI. Personal income rose 0.4% and personal spending rose 0.2% in February. Both registered the same rate of growth as in January and both matched analysts’ expectations. Core PCE […]
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March 292018
EUR/USD Trades Sideways on Mixed German and US Data
The EUR/USD currency pair today traded sideways in a tight range following the release of positive German employment change data in the early European session. The release of the weak German Consumer Price Index data in the mid-European session also had a subdued impact on the single currency. The EUR/USD currency pair traded mostly in a range between a high of 1.2335 and a low of 1.2292 and was rejected multiple times from both support and resistance levels. The positive German […]
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March 292018
Pound Declines Against US Dollar on UK GDP and Current Account Data
The British pound today declined against the US dollar after the release of the UK Q4 GDP data and the country’s current account data, which were published in the early European session. The current account deficit boosted the pair slightly by coming in lower than expected, while the GDP data did not provided the added boost to the currency pair as expected. The GBP/USD currency pair today lost over 60 points to decline from a high […]
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March 292018
Japanese Yen Gains on Rivals After Retail Sales Data
The Japanese yen gained on its most-traded rivals today. The rally followed the retail sales report, though it did not start immediately after the release of the data. Japan’s Ministry of Economy, Trade and Industry reported that retail sales increased 1.6% in February from a year ago. That was faster than the 1.5% growth in January but slower than 1.7% predicted by economists. Month-over-month, the sales were up 0.4%. USD/JPY […]
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March 292018
NZ Dollar Drops Even as Building Consents Climb to Multi-Year Record
The New Zealand dollar fell today despite positive domestic macroeconomic data released during the current trading session. Stats NZ reported that the number of building consents rose 5.7% in February from a year ago on a seasonally adjusted basis. The number of consents for new townhouses, flats, and units reached a 23-year high. The indicator showed no change in the prior month. NZD/USD slipped from 0.7211 to 0.7191 as of 10:16 GMT today. EUR/NZD […]
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