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Day: July 25, 2018
July 252018
EUR/USD Consolidates Ahead of ECB Meeting
EUR/USD attempted to rally today but has retreated to the opening level by now. Traders wait for the outcome of talks between US President Donald Trump and European Commission President Jean-Claude Juncker, who will try to avoid starting trade wars, but many experts do not believe that the meeting will bring any meaningful results. Market participants also wait for tomorrow’s meeting of the European Central Bank. New home […]
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July 252018
US Dollar Posts Losses After Underwhelming Data
The US dollar was somewhat soft today, logging losses against most other major currencies. Market analysts blamed underwhelming domestic data and the threat of trade wars for the decline. The current trading session was light on economic releases from the United States, and the one that happened was disappointing. New home sales fell to 631,000 in June from the May’s negatively revised 666,000. Following the release, the Spot Dollar Index slipped […]
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July 252018
US Dollar Posts Losses After Underwhelming Data
The US dollar was somewhat soft today, logging losses against most other major currencies. Market analysts blamed underwhelming domestic data and the threat of trade wars for the decline. The current trading session was light on economic releases from the United States, and the one that happened was disappointing. New home sales fell to 631,000 in June from the May’s negatively revised 666,000. Following the release, the Spot Dollar Index slipped […]
Read more
July 252018
Chinese Yuan Weakens to 13-Month Low After Beijing Pledges Stimulus
The Chinese yuan fell to its lowest level since June 2017 after the federal government vowed to adopt a more proactive fiscal initiative, reversing a previous policy of winding down stimulus efforts and unloading debt. This comes as the US government promised it would keep a close eye on potential currency manipulation by the world’s second-largest economy. Earlier this week, Chinaâs cabinet, the State Council, indicated that it will introduce […]
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July 252018
Chinese Yuan Weakens to 13-Month Low After Beijing Pledges Stimulus
The Chinese yuan fell to its lowest level since June 2017 after the federal government vowed to adopt a more proactive fiscal initiative, reversing a previous policy of winding down stimulus efforts and unloading debt. This comes as the US government promised it would keep a close eye on potential currency manipulation by the world’s second-largest economy. Earlier this week, Chinaâs cabinet, the State Council, indicated that it will introduce […]
Read more
July 252018
Rising Crude Oil Prices Benefit Canadian Dollar
The Canadian dollar rallied today. The rally was likely a result of the rising prices for crude oil — Canada’s major export commodity, which often has a big impact on the performance of the loonie. With almost no domestic macroeconomic data to drive the Canadian currency this week, it had to look elsewhere. As it often happens, crude oil provided a direction for the loonie, this time dragging it along to the upside. Crude gained after […]
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July 252018
Rising Crude Oil Prices Benefit Canadian Dollar
The Canadian dollar rallied today. The rally was likely a result of the rising prices for crude oil — Canada’s major export commodity, which often has a big impact on the performance of the loonie. With almost no domestic macroeconomic data to drive the Canadian currency this week, it had to look elsewhere. As it often happens, crude oil provided a direction for the loonie, this time dragging it along to the upside. Crude gained after […]
Read more
July 252018
EUR/USD Consolidates Ahead of ECB Meeting
EUR/USD attempted to rally today but has retreated to the opening level by now. Traders wait for the outcome of talks between US President Donald Trump and European Commission President Jean-Claude Juncker, who will try to avoid starting trade wars, but many experts do not believe that the meeting will bring any meaningful results. Market participants also wait for tomorrow’s meeting of the European Central Bank. New home […]
Read more
July 252018
Euro Rallies Slightly on German IFO Survey Ahead of EU-US Trade Talks
The euro today rallied higher following the release of the German IFO survey in the early European session, which beat expectations slightly. The pair’s upside was largely limited by the impending trade talks between the USA and the European Union delegation in Washington scheduled for later today. The EUR/USD currency pair today traded in a tight range marked with a high of 1.1705 and a low of 1.1674. The currency pair’s slight rally was triggered by the release of the German IFO […]
Read more
July 252018
Euro Rallies Slightly on German IFO Survey Ahead of EU-US Trade Talks
The euro today rallied higher following the release of the German IFO survey in the early European session, which beat expectations slightly. The pair’s upside was largely limited by the impending trade talks between the USA and the European Union delegation in Washington scheduled for later today. The EUR/USD currency pair today traded in a tight range marked with a high of 1.1705 and a low of 1.1674. The currency pair’s slight rally was triggered by the release of the German IFO […]
Read more