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Day: July 26, 2018
July 262018
EUR/USD Volatile After ECB Meeting, Settles Lower
EUR/USD was volatile after the European Central Bank policy meeting but ultimately decided to go lower. As was expected, the ECB kept its policy unchanged. ECB President Mario Draghi reiterated the pledge to end quantitative easing at the end of this year. He also reiterated that the interest rates will remain unchanged till at least summer of the next year. (Event A on the chart.) Meanwhile, the United States and the European Union reached […]
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July 262018
US Dollar Assumes Role of Strongest Currency on Forex Market
The US dollar overtook the Japanese yen as the strongest currency on the Forex market today. Disappointing domestic macroeconomic data did not deter the greenback from rising. The Dollar Index climbed 0.44% today. Market analysts attributed the rally to the positive outcome of meeting of EU Commission President Jean-Claude Juncker with US President Donald Trump. The EU and US leaders reached an agreement to avoid trade wars and work towards a trade deal that […]
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July 262018
US Dollar Assumes Role of Strongest Currency on Forex Market
The US dollar overtook the Japanese yen as the strongest currency on the Forex market today. Disappointing domestic macroeconomic data did not deter the greenback from rising. The Dollar Index climbed 0.44% today. Market analysts attributed the rally to the positive outcome of meeting of EU Commission President Jean-Claude Juncker with US President Donald Trump. The EU and US leaders reached an agreement to avoid trade wars and work towards a trade deal that […]
Read more
July 262018
EUR/USD Volatile After ECB Meeting, Settles Lower
EUR/USD was volatile after the European Central Bank policy meeting but ultimately decided to go lower. As was expected, the ECB kept its policy unchanged. ECB President Mario Draghi reiterated the pledge to end quantitative easing at the end of this year. He also reiterated that the interest rates will remain unchanged till at least summer of the next year. (Event A on the chart.) Meanwhile, the United States and the European Union reached […]
Read more
July 262018
Euro Drops Against Peers on Draghi Speech and ECB Rate Decision
The euro today headed lower after the European Central Bank‘s interest rate decision and the press conference following the announcement. The euro gave up most of yesterday’s gains that were triggered by President Donald Trump‘s decision to remove the pre-announced tariffs on car imports from the EU. The EUR/USD currency pair today dropped from a high of 1.1743 to a low of 1.1670 after Mario Draghi’s speech. The currency pair was on a downtrend from the Asian […]
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July 262018
Euro Drops Against Peers on Draghi Speech and ECB Rate Decision
The euro today headed lower after the European Central Bank‘s interest rate decision and the press conference following the announcement. The euro gave up most of yesterday’s gains that were triggered by President Donald Trump‘s decision to remove the pre-announced tariffs on car imports from the EU. The EUR/USD currency pair today dropped from a high of 1.1743 to a low of 1.1670 after Mario Draghi’s speech. The currency pair was on a downtrend from the Asian […]
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July 262018
Canadian Dollar Jumps to Six-Week High as US Oil Inventories Decline
The Canadian dollar rallied to a six-week high on Thursday after the US government reported a bigger-than-expected decline in crude oil inventories. The loonie may also find direction in several key US economic reports, as well as President Donald Trumpâs recent meeting with European Union (EU) Commission President Jean-Claude Juncker. According to the US Energy Information Administration (EIA), US crude stockpiles fell by 6.1 million barrels for the week ending July […]
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July 262018
Canadian Dollar Jumps to Six-Week High as US Oil Inventories Decline
The Canadian dollar rallied to a six-week high on Thursday after the US government reported a bigger-than-expected decline in crude oil inventories. The loonie may also find direction in several key US economic reports, as well as President Donald Trumpâs recent meeting with European Union (EU) Commission President Jean-Claude Juncker. According to the US Energy Information Administration (EIA), US crude stockpiles fell by 6.1 million barrels for the week ending July […]
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July 262018
Interest Rate Hike Expectations Fail to Bolster Sterling
The Great Britain pound failed to log gains today despite bets on an interest rate hike from the Bank of England this month. The sterling was soft even as the market was pricing in more than 80% chance of a rate hike next Thursday. The currency actually did attempt to rally earlier but failed. Now, it is trading close to its opening level against most major rivals and below it versus […]
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July 262018
Interest Rate Hike Expectations Fail to Bolster Sterling
The Great Britain pound failed to log gains today despite bets on an interest rate hike from the Bank of England this month. The sterling was soft even as the market was pricing in more than 80% chance of a rate hike next Thursday. The currency actually did attempt to rally earlier but failed. Now, it is trading close to its opening level against most major rivals and below it versus […]
Read more