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Day: July 30, 2018
July 302018
Canadian Dollar Gains on âAbsolutely Amazingâ NAFTA Talks, Higher Oil Prices
The Canadian dollar is rallying to start the trading week, benefiting from reported progress in North American Free Trade Agreement (NAFTA) negotiations and higher energy prices. The loonie may tumble later in the week as the US central bank completes its Federal Open Market Committee (FOMC) policy meeting that could signal a September rate hike. Speaking in an interview with Fox News, White House Council of Economic Advisers Chairman […]
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July 302018
Canadian Dollar Gains on âAbsolutely Amazingâ NAFTA Talks, Higher Oil Prices
The Canadian dollar is rallying to start the trading week, benefiting from reported progress in North American Free Trade Agreement (NAFTA) negotiations and higher energy prices. The loonie may tumble later in the week as the US central bank completes its Federal Open Market Committee (FOMC) policy meeting that could signal a September rate hike. Speaking in an interview with Fox News, White House Council of Economic Advisers Chairman […]
Read more
July 302018
Euro Rallies Higher Despite Disappointing German Inflation Data
The euro today rallied higher against the US dollar despite the release of disappointing German inflation data in the mid-European session. The EUR/USD currency pair broke out of the consolidative pattern that dominated the Asian session due to positive investor sentiment towards the single currency. The EUR/USD currency pair today rallied from an initial low of 1.1646 to a high of 1.1710 in the early American session. The currency pair’s bid tone today was largely influenced […]
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July 302018
Euro Rallies Higher Despite Disappointing German Inflation Data
The euro today rallied higher against the US dollar despite the release of disappointing German inflation data in the mid-European session. The EUR/USD currency pair broke out of the consolidative pattern that dominated the Asian session due to positive investor sentiment towards the single currency. The EUR/USD currency pair today rallied from an initial low of 1.1646 to a high of 1.1710 in the early American session. The currency pair’s bid tone today was largely influenced […]
Read more
July 302018
Japanese Yen Trades Lower After Retail Sales Beat Expectations
The Japanese yen opened slightly above the Friday’s close today but has declined by now. Japan’s retail sales beat expectations but, as it often happens, the currency had muted reaction to domestic data. Japan’s Ministry of Economy, Trade and Industry reported that retail sales climbed 1.8% in June, year-on-year. The rate of increase was slightly higher than 1.7% predicted by economists and three times faster than the 0.6% pace […]
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July 302018
Japanese Yen Trades Lower After Retail Sales Beat Expectations
The Japanese yen opened slightly above the Friday’s close today but has declined by now. Japan’s retail sales beat expectations but, as it often happens, the currency had muted reaction to domestic data. Japan’s Ministry of Economy, Trade and Industry reported that retail sales climbed 1.8% in June, year-on-year. The rate of increase was slightly higher than 1.7% predicted by economists and three times faster than the 0.6% pace […]
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July 302018
Krona Rallies As Swedish GDP Beats Expectations
The Swedish krona rose sharply today after Sweden’s economic growth surprised the market, beating expectations. Swedish GDP rose 3.3% in the second quarter of 2018, year-on-year. While it was the same rate of growth as in the first quarter, it was noticeably faster compared to the consensus forecast of a 2.6% increase. The positive data reinforced the outlook for the nation’s central bank to raise interest rates gradually throughout the year. USD/SEK dropped from 8.8290 […]
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July 302018
Krona Rallies As Swedish GDP Beats Expectations
The Swedish krona rose sharply today after Sweden’s economic growth surprised the market, beating expectations. Swedish GDP rose 3.3% in the second quarter of 2018, year-on-year. While it was the same rate of growth as in the first quarter, it was noticeably faster compared to the consensus forecast of a 2.6% increase. The positive data reinforced the outlook for the nation’s central bank to raise interest rates gradually throughout the year. USD/SEK dropped from 8.8290 […]
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