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Day: April 27, 2018
April 272018
EUR/USD Bounces as Markets Ignore US GDP
EUR/USD was falling today following yesterday’s steep sell-off. While the currency pair attempted to recover, it ended Thursday’s session lower. During the current session, the EUR/USD pair had extended the decline intraday, but has managed to bounce by now. The pair benefited from the fact that markets had muted reaction to the better-than-expected US gross domestic product print. US GDP grew 2.3% in Q1 2018. While the growth […]
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April 272018
Pound Plunges as Economic Growth Slows Beyond Expectations
The Great Britain pound took a beating today as the vast majority of macroeconomic reports released over the Friday’s trading session were very disappointing. Markets primarily focused on the slowing economic growth, though other indicators were not impressive either. Britain’s gross domestic product rose just 0.1% in the first quarter of 2018 from the previous three months, slowing from the 0.4% rate of growth demonstrated in the fourth quarter of 2017. Economists […]
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April 272018
GBPUSD to Extend Losses After Huge UK GDP Miss
GBPUSD talking points: – The UK economy grew by just 0.1% quarter/quarter in the first three months of 2018, well below the 0.3% predicted. Year/year it expanded by a miserly 1.2% rather than the 1.4% forecast. – That has made a Bank of England rate increase in May far less likely, GBP has dropped in […]
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April 272018
Traders Unamused by Bullish US GDP Print; DXY Remains Stagnant
Talking Points: – The advance estimates for US Gross domestic product came in at 2.3% for 1Q beating the estimated 2.0% – Tax cuts boosted disposable incomes as well as savings, similarly personal consumption also increased – Chances of a rate hike in June stand at 93% – See the DailyFX Economic Calendar for upcoming […]
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April 272018
US AM Digest: GBPUSD Plummets as Weak GDP Takes Off May Rate Rise
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA -0.03%, NASDAQ 100 +1.6%, S&P 500 +0.3% GBP: Post-Brexit highs seem a thing of the past with GBPUSD now off 600pips from 1.4377. The nail is well and truly in […]
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April 272018
EUR/USD Declines on Weak Eurozone Releases and Upbeat US GDP, Later Rebounds
The EUR/USD currency pair today fell to new multi-month lows after the release of disappointing French GDP data among other macro releases from the euro block. The pair’s decline was further accelerated by the release of upbeat Q1 GDP data from the USA. The EUR/USD currency pair lost over 60 points to decline from an initial high of 1.2116 to a low of 1.2053, but later rebounded. The currency pair’s decline started in the late […]
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April 272018
EUR/USD Bounces as Markets Ignore US GDP
EUR/USD was falling today following yesterday’s steep sell-off. While the currency pair attempted to recover, it ended Thursday’s session lower. During the current session, the EUR/USD pair had extended the decline intraday, but has managed to bounce by now. The pair benefited from the fact that markets had muted reaction to the better-than-expected US gross domestic product print. US GDP grew 2.3% in Q1 2018. While the growth […]
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April 272018
Japanese Yen Rallies Undisturbed by Detrimental Fundamentals
The Japanese yen was little changed against the US dollar but gained on other major rivals today. That was a surprising performance as fundamentals did not look supportive to the currency. The Bank of Japan left interest rates and the size of Japanese government bonds purchases unchanged at today’s meeting, as was widely expected. There was one dissenter who voted for increasing monetary easing. The central bank also released its economic […]
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April 272018
New Zealand Dollar Holds Ground Despite Unexpected Trade Deficit
The New Zealand dollar was little change against some currencies and gained against others today even though the nation’s trade balance demonstrated an unexpected deficit last month. Statistics New Zealand reported that the trade balance turned from a surplus of NZ$172 million in February to a deficit of NZ$86 million in March. That was a total surprise to economists, who were expecting a substantial increase of the surplus to NZ$270 million. It was […]
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April 272018
Asian Stocks Gain On Wall St, Korea Hopes. US GDP Data Up Next
Talking Points: Asian stocks rose broadly Wall St. gave them a head start, hopes for peace on the Korean peninsular helped further The Bank of Japan left its policy settings alone Find out what the #1 mistake that traders make is, so you never have to join them in it. Asian stocks were higher across […]
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