Day: July 17, 2018

July 17
2018

EUR/USD Declines Ignoring Mixed US Reports

The euro was falling against the US dollar during the bigger part of both the European and the American trading sessions. It ignored the US fundamentals but came to a halt after 16:00 GMT, entering a consolidation phase. Industrial production and capacity utilization both increased in May. Industrial production added 0.6% after declining by 0.5% in April (revised from a 0.1% drop). The indicator was expected to add 0.5% in May. Capacity utilization went […]

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July 17
2018

Euro Edges Lower on Jerome Powell Testimony, Rallying US Dollar

The euro slumped on Tuesday during Federal Reserve Chair Jerome Powell’s semi-annual testimony on Capitol Hill. As Powell told the US Senate Banking Committee that continued, gradual increases to interest rates will be the desired monetary policy moving forward, the euro fell against the US dollar, adding to its steep year-to-date losses. Powell, who will be speaking before the House Financial Services Committee on Wednesday, delivered an upbeat […]

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July 17
2018

Euro Edges Lower on Jerome Powell Testimony, Rallying US Dollar

The euro slumped on Tuesday during Federal Reserve Chair Jerome Powell’s semi-annual testimony on Capitol Hill. As Powell told the US Senate Banking Committee that continued, gradual increases to interest rates will be the desired monetary policy moving forward, the euro fell against the US dollar, adding to its steep year-to-date losses. Powell, who will be speaking before the House Financial Services Committee on Wednesday, delivered an upbeat […]

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July 17
2018

British Pound Crashes as PM May Faces Rebellion in Parliament

The British pound today rallied slightly higher in the early European session following the release of positive UK jobs data. The pound later witnessed a massive drop following Brexit headlines indicating that some Tory MPs were planning to sabotage PM May’s Brexit negotiating plan. The GBP/USD currency pair today crashed from a high of 1.3269 to a low of 1.3146 as investors reacted to the Brexit jitters. The publication of the UK labour market report […]

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July 17
2018

British Pound Crashes as PM May Faces Rebellion in Parliament

The British pound today rallied slightly higher in the early European session following the release of positive UK jobs data. The pound later witnessed a massive drop following Brexit headlines indicating that some Tory MPs were planning to sabotage PM May’s Brexit negotiating plan. The GBP/USD currency pair today crashed from a high of 1.3269 to a low of 1.3146 as investors reacted to the Brexit jitters. The publication of the UK labour market report […]

Read more
July 17
2018

EUR/USD Declines Ignoring Mixed US Reports

The euro was falling against the US dollar during the bigger part of both the European and the American trading sessions. It ignored the US fundamentals but came to a halt after 16:00 GMT, entering a consolidation phase. Industrial production and capacity utilization both increased in May. Industrial production added 0.6% after declining by 0.5% in April (revised from a 0.1% drop). The indicator was expected to add 0.5% in May. Capacity utilization went […]

Read more