Day: July 19, 2018

July 19
2018

EUR/USD Soars Despite Positive US Data

EUR/USD was on the rise today during the New York trading session despite the fact that the US macroeconomic indicators came out pretty good this time. Philadelphia Fed manufacturing index rose from 19.9 to 25.7 in July, coming out better than 21.6 expected by market participants. (Event A on the chart.) Initial jobless claims declined to 207k in the week ending July 14. It was a positive surprise for USD bulls […]

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July 19
2018

Switzerland ‘Can Live With’ Franc Being Overvalued Against the Euro

The Swiss franc is overvalued compared to the euro, but the nation and its businesses “can live with” the current exchange rate, says Ueli Maurer, Switzerland’s Finance Minister. The Swiss franc, which has gained more than 5% against the euro over the last 12 months, is dipping on Thursday after his remarks. Speaking in an interview with Reuters earlier this week, Maurer said that his government would […]

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July 19
2018

Switzerland ‘Can Live With’ Franc Being Overvalued Against the Euro

The Swiss franc is overvalued compared to the euro, but the nation and its businesses “can live with” the current exchange rate, says Ueli Maurer, Switzerland’s Finance Minister. The Swiss franc, which has gained more than 5% against the euro over the last 12 months, is dipping on Thursday after his remarks. Speaking in an interview with Reuters earlier this week, Maurer said that his government would […]

Read more
July 19
2018

EUR/USD Soars Despite Positive US Data

EUR/USD was on the rise today during the New York trading session despite the fact that the US macroeconomic indicators came out pretty good this time. Philadelphia Fed manufacturing index rose from 19.9 to 25.7 in July, coming out better than 21.6 expected by market participants. (Event A on the chart.) Initial jobless claims declined to 207k in the week ending July 14. It was a positive surprise for USD bulls […]

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July 19
2018

British Pound Hits 10-Month Lows on Disappointing UK Retail Sales

The British pound today dropped to new 10-month lows following the release of disappointing UK retail sales data for June. The GBP/USD currency pair extended its losing streak for the third consecutive day even as investors ditched the pound on Brexit jitters amid recent weak economic releases. The GBP/USD currency pair today dropped from an initial high of 1.3082 to a low of 1.2974 and was on a downtrend at the time of writing. The UK retail sales data […]

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July 19
2018

British Pound Hits 10-Month Lows on Disappointing UK Retail Sales

The British pound today dropped to new 10-month lows following the release of disappointing UK retail sales data for June. The GBP/USD currency pair extended its losing streak for the third consecutive day even as investors ditched the pound on Brexit jitters amid recent weak economic releases. The GBP/USD currency pair today dropped from an initial high of 1.3082 to a low of 1.2974 and was on a downtrend at the time of writing. The UK retail sales data […]

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