Day: November 1, 2018

November 1
2018

Japanese Yen Rallies on Industrial Strength, Rebounding Exports

The Japanese yen is strengthening against its US counterpart on Thursday after new data found that domestic industrial output is at a four-month high and exports have returned to normal growth. The yen’s gains were likely capped on slower retail sales growth. According to the Markit/Nikkei Japan Manufacturing Purchasing Managers’ Index (PMI), activity expanded at the fastest pace since June, reaching to a seasonally adjusted 52.9 in October, up from […]

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November 1
2018

Pound Rallies to New Weekly Highs on Brexit Rumors and BoE Rate Decision

The British pound today rallied to new highs against the US dollar following Brexit rumors that the British PM Theresa May had signed a deal with the EU on the financial services sector. The pound was further boosted by the Bank of England‘s monetary policy decision, which helped it rally against the greenback despite mixed US macro releases. The GBP/USD currency pair today rallied from an opening low of 1.2764 to a high […]

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November 1
2018

EUR/USD Surges After Three Days of Losses

EUR/USD surged today following three consecutive sessions of losses. Market analysts speculated that it happened because the end-of-the-month dollar buying stopped. Hopes for fiscal stimulus in China was also among reasons named by analysts for the surge of the currency pair. Whatever the reason, traders were preferring riskier currencies over safer ones, and the dollar felt it. Nonfarm productivity rose 2.2% in Q3 2018, matching forecasts exactly. The indicator […]

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