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Day: April 11, 2018
April 112018
EUR/USD Stays Above Opening After Hawkish FOMC Minutes
EUR/USD was gradually rising today but dipped after the Federal Open Market Committee released minutes of its March meeting, which were considered to be rather hawkish by market participants. Yet the currency pair has managed to recover a bit by now and is currently trading above the opening level. US CPI decreased by 0.1% in March on a seasonally adjusted basis, whereas experts had anticipated no change. The index was […]
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April 112018
Dollar Mixed After FOMC Policy Minutes
The US dollar was mixed following today’s release of policy minutes by the Federal Open Market Committee. The currency fell against some rivals, while gained on others (primarily the riskier ones linked to the commodity market). Markets considered the minutes of the March policy meeting, during which the Federal Reserve raised interest rates, to be largely hawkish. With that said, Fed members discussed ramifications of potential trade wars: A number of participants […]
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April 112018
Euro Rallies Against US Dollar on Draghi Speech and US CPI Data
The euro today rallied slightly higher against the US dollar following the ECB President, Mario Draghi‘s speech at an event in Frankfurt. The euro kept rising after the release of the US Consumer Price Index data despite the core inflation print being in line with expectations. The EUR/USD currency pair today gained over 40 points to rally from a low of 1.2352 to trade at a high of 1.2396 at the time of writing. The currency pair was on an uptrend […]
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April 112018
Australian Dollar Falls After Poor Reports from Australia & China
The Australian dollar fell against other major currencies today due to poor macroeconomic data in Australia as well as its biggest trading partner — China. The Westpac-Melbourne Institute Consumer Sentiment Index for Australia fell 0.6% in April after rising 0.2% in March. China’s Consumer Price Index rose 2.1% in March, year-on-year, slowing from the 2.9% inflation in February and missing the average forecast of a 2.6% increase. Meanwhile, the Producer Price Index rose […]
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April 112018
Japanese Yen Firm Despite Mixed Data, Positive Market Sentiment
The Japanese yen rallied against its most-traded rivals today despite mixed domestic macroeconomic data and the positive general market sentiment. The Producer Price Index rose 2.1% in March from the same month a year ago, matching expectations. Core machinery orders made by the private sector in February increased by 2.1% compared to January — a far better reading than a drop by 2.6% predicted by experts. Bank lending increased by 2.0% in March, year-on-year, […]
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April 112018
British Pound Drops Slightly on Mixed UK Economic Releases
The British pound today dropped slightly against the US dollar following a deluge of mixed releases from the UK docket including the crucial manufacturing production data. The GBP/USD’s decline was further accelerated by profit taking as most traders closed their trades following the currency pair’s massive rally, which started on Friday last week. The GBP/USD currency pair declined from a high of 1.4223 in the early European session to a trade at a low of 1.4181 […]
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