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Day: October 11, 2018
October 112018
Japanese Yen Jumps on Renewed Cooperation With China
The Japanese yen is posting modest gains against its US counterpart on Thursday after the Chinese government encouraged renewed economic cooperation with the worldâs third-largest economy. The yen received a slight shot in the arm on various surveys that show a boost in key sectors. This year, the US has engaged in a bitter trade dispute with China, instituting a series of tariffs worth tens of billions of dollars on Chinese goods. Washington has […]
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October 112018
Euro Rallies on Huge Drop in Global Equity Markets, Later Declines
The euro today rallied higher against the US dollar from the early European session largely due to the massive pullback in global equity markets, which favored the single currency. The EUR/USD currency pair’s rally was further boosted by President Donald Trump‘s criticism of the Fed’s monetary policy position, which also contributed to the greenback’s weakness. The EUR/USD currency pair today rallied to a high of 1.1599 almost breaching the crucial 1.1600 level before […]
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October 112018
EUR/USD Rises After CPI Miss
EUR/USD rallied today after US macroeconomic data, the Consumer Price Index in particular, missed expectations. Earlier, the currency pair was rising as US President Donald Trump criticized the Federal Reserve for raising interest rates. US CPI rose 0.1% in September. The index misses expectations as analysts had predicted the same 0.2% rate of growth as in August. (Event A on the chart.) Initial jobless claims also missed forecasts, rising from 207k […]
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