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Day: May 2, 2018
May 22018
EUR/USD Volatile After FOMC Announcement
EUR/USD was very volatile after the release of a policy statement by the Federal Open Market Committee. The currency pair leaped after the release but immediately started to back off and went below the opening level after some time. Market analysts thought that the FOMC made some dovish changes to the statement, and that was the reason for the initial jump. Yet it looked like the outlook for monetary policy did not change substantially […]
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May 22018
US Dollar Drops as FOMC Turns Hawkish on Inflation, Dovish on Growth
Talking Points: – FOMC holds benchmark interest rate in range of 1.50-1.75%, as was expected by markets. – Fed funds price in a 100% chance of a 25-bps rate hike in June, but odds for September and December stay in same territory post-release as they did pre-release. – US Dollar produces mixed reaction, eventually trading […]
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May 22018
Pound Loses Gains Caused by Surprisingly Good Construction PMI
The Great Britain pound was lifted intraday by a surprisingly good report about the construction sector. By now, though, the currency has trimmed its gains, losing them outright against some rivals, like the US dollar and the Japanese yen. The seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managersâ Index climbed to 52.5 in April from the March’s 20-month low of 47.0. The actual value was not only above the neutral 50.0 […]
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May 22018
EUR/USD Drops on Renewed US Dollar Demand Ahead of FOMC Decision
The euro today dropped to new lows against the US dollar following a resurgent demand for the greenback ahead of the FOMC interest rate decision. The EUR/USD currency pair broke down from its initial sideways trading range in the early American session as the greenback rallied higher. The EUR/USD currency pair lost over 75 points to decline from a high of 1.2032 to a low of 1.1951 breaching the crucial 1.2000 psychological level. The currency pair was […]
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May 22018
Euro Sees Muted Response to Slowing Euro-Area Growth; Eyes on Inflation
EUR Analysis and Talking Points EURUSD was unfazed by the slowing of Euro-Area GDP given that growth remains robust Focus will be on tomorrows inflation figures, which continues to remain subdued Eurozone GDP Slows at the Beginning of 2018 The Euro-Zone economy expanded by 2.5% Y/Y in the first quarter of 2018, a slight moderation […]
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May 22018
Brexit Concerns Add to GBP Weakness Ahead of UK/EU Talks
GBPUSD talking points: – As the UK markets reacted to weak economic data, sending GBP sharply lower, Brexit seemed to have receded as a market-moving factor. – However, that now seems to be changing, with Brexit concerns re-emerging as an issue and likely to keep the currency under downward pressure. Check out the IG Client […]
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May 22018
US AM Digest: DXY Gains Stall as Investors Focus on FOMC Meeting
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA -0.1%, Nasdaq 100 +0.3%, S&P 500 -0.1% Major Headlines Chinese Caixin Manufacturing PMI beat expectations at 51.1 NZ Q1 Employment Change grew 0.6%, Unemployment Rate fell to 4.4% Eurozone GDP […]
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May 22018
EUR/USD Volatile After FOMC Announcement
EUR/USD was very volatile after the release of a policy statement by the Federal Open Market Committee. The currency pair leaped after the release but immediately started to back off and went below the opening level after some time. Market analysts thought that the FOMC made some dovish changes to the statement, and that was the reason for the initial jump. Yet it looked like the outlook for monetary policy did not change substantially […]
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May 22018
NZD Moves Higher After Initial Violent Reaction to Employment Data
The New Zealand dollar rose against major currencies today following the release of a decent employment report. While the currency reacted wildly to the release, jumping initially and slumping back down almost immediately, the kiwi largely moving up afterwards. The Statistics New Zealand reported that the unemployment rate fell from 4.5% in the December quarter of 2017 to 4.4% in the March quarter of 2018, in line with expectations. Employment grew by 0.6% after increasing […]
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May 22018
AUD Hangs Above Opening, Getting Boost from China’s Manufacturing
The Australian dollar was rising today, getting boost from a decent macroeconomic report about China’s manufacturing sector. While the currency has retreated from its daily highs by now, it is still trading above the opening level. The Caixin China General Manufacturing PMI was at 51.1 in April, rising marginally from the reading of 51.0 registered in March. The actual value was close to the figure of 50.9 predicted by analysts. Despite […]
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