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Day: July 31, 2018
July 312018
EUR/USD Attempts to Rally on Eurozone Inflation, Retreats to Opening
EUR/USD attempted to rally today, bolstered by the better-than-expected inflation print for the eurozone, but failed and is now trading near the opening level. US reports released over the Tuesday’s session were decent, and some of them were noticeably better than expectations. Both personal income and spending rose 0.4% in June, matching expectations. That is compared to the previous month’s growth of 0.4% for income and 0.5% for spending. Core PCE inflation rose […]
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July 312018
Canadian Dollar Reverses Losses After GDP Beats Expectations
The Canadian dollar rallied today, reversing its earlier losses. The currency got a boost from Canada’s solid economic growth. Statistics Canada reported that gross domestic product rose 0.5% in May after increasing 0.1% in April. Analysts had predicted a smaller increase by 0.3%. In June, both the Industrial Product Price Index and the Raw Materials Price Index also rose 0.5%, though in this case the rate of growth significantly […]
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July 312018
Canadian Dollar Reverses Losses After GDP Beats Expectations
The Canadian dollar rallied today, reversing its earlier losses. The currency got a boost from Canada’s solid economic growth. Statistics Canada reported that gross domestic product rose 0.5% in May after increasing 0.1% in April. Analysts had predicted a smaller increase by 0.3%. In June, both the Industrial Product Price Index and the Raw Materials Price Index also rose 0.5%, though in this case the rate of growth significantly […]
Read more
July 312018
Turkish Lira Declines After Central Bank Upgrades Inflation Forecast
The Turkish lira fell today after Turkey’s central bank revised its inflation forecast up. The currency declined even as the bank signaled about possibility of an interest rate hike. The Central Bank of the Republic of Turkey released the Summary of the Monetary Policy Committee Meeting for the last week’s policy meeting. After the gathering, the bank surprised markets, refraining from increasing borrowing costs to tame accelerating inflation. In the today’s notes, the central bank revealed […]
Read more
July 312018
Turkish Lira Declines After Central Bank Upgrades Inflation Forecast
The Turkish lira fell today after Turkey’s central bank revised its inflation forecast up. The currency declined even as the bank signaled about possibility of an interest rate hike. The Central Bank of the Republic of Turkey released the Summary of the Monetary Policy Committee Meeting for the last week’s policy meeting. After the gathering, the bank surprised markets, refraining from increasing borrowing costs to tame accelerating inflation. In the today’s notes, the central bank revealed […]
Read more
July 312018
EUR/USD Attempts to Rally on Eurozone Inflation, Retreats to Opening
EUR/USD attempted to rally today, bolstered by the better-than-expected inflation print for the eurozone, but failed and is now trading near the opening level. US reports released over the Tuesday’s session were decent, and some of them were noticeably better than expectations. Both personal income and spending rose 0.4% in June, matching expectations. That is compared to the previous month’s growth of 0.4% for income and 0.5% for spending. Core PCE inflation rose […]
Read more
July 312018
Euro Rallies Higher on Mixed Eurozone Data and Weak US PCE Data
The euro today rallied higher against the US dollar from the late Asian session into the early European session following positive releases from across the Eurozone. Releases from the US docket in the early American session triggered a slight pullback in the EUR/USD currency pair. The EUR/USD currency pair today rallied from an initial low of 1.1700 to a high of 1.1745 before retracing some of its gains. The release of the German retail sales […]
Read more
July 312018
Euro Rallies Higher on Mixed Eurozone Data and Weak US PCE Data
The euro today rallied higher against the US dollar from the late Asian session into the early European session following positive releases from across the Eurozone. Releases from the US docket in the early American session triggered a slight pullback in the EUR/USD currency pair. The EUR/USD currency pair today rallied from an initial low of 1.1700 to a high of 1.1745 before retracing some of its gains. The release of the German retail sales […]
Read more
July 312018
Chinese Yuan Depreciates As Economy Weakens, Manipulation Concerns Linger
The Chinese yuan weakened against the US dollar and a basket of currencies on Tuesday. Despite some modest gains in July, the currency is still hovering around a 13-month low, leaving many traders and world leaders wondering if Beijing is manipulating the yuan. It has been several months since the US government applied hefty tariffs on tens of billions of dollars of Chinese goods. Although negotiators on both sides are optimistic they […]
Read more
July 312018
Chinese Yuan Depreciates As Economy Weakens, Manipulation Concerns Linger
The Chinese yuan weakened against the US dollar and a basket of currencies on Tuesday. Despite some modest gains in July, the currency is still hovering around a 13-month low, leaving many traders and world leaders wondering if Beijing is manipulating the yuan. It has been several months since the US government applied hefty tariffs on tens of billions of dollars of Chinese goods. Although negotiators on both sides are optimistic they […]
Read more