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Day: June 5, 2018
June 52018
EUR/USD Rallies Higher on Mixed Eurozone Data, Later Declines
The EUR/USD currency pair today rallied higher in the early European session following the release of mixed PMI data from across the Eurozone by IHS Markit. The currency pair’s initial rally was further boosted by the weaker US dollar as tracked by the US Dollar Index whose recovery had stalled in the early European session. The EUR/USD pair today rallied briefly from a low of 1.1682 to a high of 1.1717, but later headed lower as the US […]
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June 52018
British Pound Rallies Higher on Upbeat UK Services PMI Data
The British pound today rallied higher after the release of the UK Services PMI for May by IHS Markit, which beat expectations by a significant margin. The positive PMI data served to raise expectations of a rate hike by the Bank of England in the near future as the country’s GDP growth rebounds in the current quarter. The GBP/USD currency pair today rallied from a low of 1.3301 to a high of 1.3393 gaining over 90 points after the PMI release. The currency pair […]
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June 52018
Australian Dollar Lower After RBA, Macroeconomic Data
The Australian dollar retreated against its most-traded peers today after the monetary policy meeting of the Reserve Bank of Australia. Mixed macroeconomic data did not provide support to the currency. The RBA left its main interest rate at 1.5%, surprising no one with such a decision. The statement remained largely unchanged, giving no hints at plans for monetary tightening in the foreseeable future. The Australian Bureau of Statistics reported that the current account […]
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June 52018
Asia AM Digest: Sentiment Up. AUD May Fall on Status Quo RBA
Current Developments – Sentiment Recovers, USD Last Minute Recovery Despite threats from China to call off trade deals with the US, sentiment rebounded on Monday as stocks rose. Investors appeared to have welcomed continued global economic growth prospects following the beat in last week’s US jobs report. However, most of the gains were realized via […]
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June 52018
EUR/USD Slips After US Services Data
EUR/USD fell today, changing its direction for the third day in a row. Some market analysts predicted that the currency pair will be trading in a range in a near future as the most important fundamentals, like geopolitical risks and monetary policy, are already priced in. Meanwhile, both reports about the US service sector released today beat expectations, driving the EUR/USD pair further down, though currently it is attempting […]
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