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Day: July 27, 2018
July 272018
EUR/USD Recovers, Unfazed by Solid US GDP
EUR/USD dropped during the current trading session but has bounced by now. Even the solid gross domestic product report in the United States, which showed the fastest growth of the US economy in four years, did not prevent the rally of the currency pair. US GDP rose 4.1% in Q2 2018. The increase was a bit smaller than 4.2% predicted by analysts but far bigger than 2.2% registered in Q1. (Event A on the chart.) […]
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July 272018
Canadian Dollar Soft on Friday, Heads to Weekly Gains
The Canadian dollar traded flat-to-lower against its major rivals today following the decline of crude oil prices. For the week, though, the currency was heading to strong gains. Crude oil declined on Friday as the number of US oil rigs increased. The Canadian currency often follows moves of crude as the commodity is the major component of Canada’s trade revenue. Talking about trade, concerns about trade wars between the United States and their allies […]
Read more
July 272018
Canadian Dollar Soft on Friday, Heads to Weekly Gains
The Canadian dollar traded flat-to-lower against its major rivals today following the decline of crude oil prices. For the week, though, the currency was heading to strong gains. Crude oil declined on Friday as the number of US oil rigs increased. The Canadian currency often follows moves of crude as the commodity is the major component of Canada’s trade revenue. Talking about trade, concerns about trade wars between the United States and their allies […]
Read more
July 272018
IMF Says Chinese Yuan âFairly Valuedâ As Currency Slips Further
The Chinese yuan continued its slide on Friday as the currency fell beyond its 13-month low. Despite the US government hinting that the central bank is purposely debasing the yuan, the International Monetary Fund (IMF) said it is âfairly valued.â Speaking in an interview with CNBC, James Daniel, the IMF mission chief for China, explained that the deviation in US and Chinese monetary policies have been contributing the latest decline in the yuan. […]
Read more
July 272018
IMF Says Chinese Yuan âFairly Valuedâ As Currency Slips Further
The Chinese yuan continued its slide on Friday as the currency fell beyond its 13-month low. Despite the US government hinting that the central bank is purposely debasing the yuan, the International Monetary Fund (IMF) said it is âfairly valued.â Speaking in an interview with CNBC, James Daniel, the IMF mission chief for China, explained that the deviation in US and Chinese monetary policies have been contributing the latest decline in the yuan. […]
Read more
July 272018
US Dollar Soft Despite Strong US GDP Growth
The US dollar was broadly lower against its major peers today, though the losses were very limited. The currency fell after the release of a GDP report, even though it was very good, showing that the US economy was growing with the fastest pace in four years. The Bureau of Economic Analysis reported that US gross domestic product rose 4.1% in the second quarter of this year — a sharp acceleration […]
Read more
July 272018
US Dollar Soft Despite Strong US GDP Growth
The US dollar was broadly lower against its major peers today, though the losses were very limited. The currency fell after the release of a GDP report, even though it was very good, showing that the US economy was growing with the fastest pace in four years. The Bureau of Economic Analysis reported that US gross domestic product rose 4.1% in the second quarter of this year — a sharp acceleration […]
Read more
July 272018
Euro Rallies Against US Dollar as US Q2 GDP Estimate Misses Expectations
The EUR/USD currency pair opened today’s session with a bearish outlook given the dovish outlook painted by ECB President Mario Draghi yesterday, which led to a bearish ‘outside day.’ The currency pair was on a downtrend up to the early American session when the flash US Q2 GDP report was released, which boosted the pair. The EUR/USD currency pair today dropped to a low of 1.1619 before rallying to a high of 1.1661 in the early American […]
Read more
July 272018
Euro Rallies Against US Dollar as US Q2 GDP Estimate Misses Expectations
The EUR/USD currency pair opened today’s session with a bearish outlook given the dovish outlook painted by ECB President Mario Draghi yesterday, which led to a bearish ‘outside day.’ The currency pair was on a downtrend up to the early American session when the flash US Q2 GDP report was released, which boosted the pair. The EUR/USD currency pair today dropped to a low of 1.1619 before rallying to a high of 1.1661 in the early American […]
Read more
July 272018
EUR/USD Recovers, Unfazed by Solid US GDP
EUR/USD dropped during the current trading session but has bounced by now. Even the solid gross domestic product report in the United States, which showed the fastest growth of the US economy in four years, did not prevent the rally of the currency pair. US GDP rose 4.1% in Q2 2018. The increase was a bit smaller than 4.2% predicted by analysts but far bigger than 2.2% registered in Q1. (Event A on the chart.) […]
Read more