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Day: October 18, 2018
October 182018
US Dollar Gains on Fed Hikes Speculations, Positive Data
The US dollar was rather strong today, though it was unable to outperform safer currencies like the Japanese yen and the Swiss franc. The greenback was also surprisingly weak against the Australian and New Zealand dollars intraday but managed to rebound by now. One of the major reasons for the greenback’s strength was the hawkish stance of the Federal Reserve. The Fed minutes released yesterday showed that all voting members voted for the September interest […]
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October 182018
Pound Trades Sideways on Failed Brexit Talks and Weak UK Retail Sales
The British pound today traded sideways against the US dollar following the failed Brexit talks during yesterday’s meetings between EU leaders and British PM Theresa May. The pound was further weighed down by the release of the latest UK retail sales data in the early European session, which missed expectations by a significant margin. The GBP/USD currency pair today traded in a range marked by a high of 1.3131 and a low of 1.3075 and was within this […]
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October 182018
Canadian Dollar Falls on Cratering Oil Prices, Weaker Manufacturing Data
The Canadian dollar is tumbling on Thursday, thanks to crude oil prices slipping below the key $70 threshold and weak manufacturing data. The loonie had surged to a 11-day high on Wednesday before retreating against several other currencies. According to the US Energy Information Administration (EIA), domestic crude inventories climbed by 6.5 million barrels for the week ending October 12, which is higher than the market forecast of 1.88 million barrels. […]
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October 182018
Australia’s Data Doesn’t Look Amazing, Aussie Defies Fundamentals
The Australian dollar was among the strongest currencies today. That puzzled market analysts as Australia’s macroeconomic reports were not particularly favorable and the market sentiment was negative to riskier commodity-related currencies due to geopolitical tensions and prospects for additional monetary tightening from the Federal Reserve. The Australian Bureau of Statistics reported that Australian employers added 5,600 jobs in September, almost three times less than analysts had predicted — 15,200. […]
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October 182018
EUR/USD Fails to Bounce as Dollar Remains Supported by Fed
EUR/USD attempted to bounce today after yesterday’s drop but failed. The greenback remained supported by the hawkish stance of the Federal Reserve. Macroeconomic reports released in the United States on Thursday were decent, providing additional support to the US currency. Philadelphia Fed manufacturing index fell a bit from 22.9 in September to 22.2 in October. Analysts had predicted a bigger drop to 19.7. (Event A on the chart.) Initial jobless claims decreased to 210k last week […]
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