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Day: December 13, 2018
December 132018
Euro Rallies Ahead of ECB Rate Decision, Drops on Dovish Draghi Speech
The euro today rallied before the European Central Bank rate announcement, but dropped lower after the dovish comments made by the ECB President following the announcement. The pair headed lower in the American session despite the release of disappointing American macro data. The EUR/USD currency pair today dropped from a high of 1.1393 to a low of 1.1330 following the dovish Draghi comments. The currency pair was in a consolidative during the Asian session, but broke out […]
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December 132018
Japanese Yen Extends Losses As Data Misses Expectations
The Japanese yen is weakening against its US counterpart on Thursday after new data missed market forecasts. The currency is now looking to find direction on news that the federal government is aiming to allow more foreign workers to fill the labor gap in the worldâs third-largest economy. Core machinery orders climbed less than expected in October as the nation continued to recover from the massive earthquake in September. According to the latest numbers, […]
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December 132018
Franc Flat-to-Higher Despite Downgrade of SNB Inflation Forecast
The Swiss franc was relatively strong today, trading flat against some currencies while gaining versus others. That was surprising, considering that the central bank left interest rates in the negative territory and lowered inflation projections. The Swiss National Bank kept borrowing costs unchanged at today’s policy meeting, with the interest on sight deposits remaining at -0.75% and the target range for the three-month Libor staying at between â1.25% and â0.25%. The central […]
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December 132018
Australian Dollar Strongest During Thursday’s Trading
The Australian dollar was the strongest currency today. It was fighting with the Great Britain pound for the first place, and currently the Aussie is on top. Domestic macroeconomic data released over the trading session was good, with the Melbourne Institute Consumer Inflationary Expectations logging an increase from 3.6% in November to 4.0% in December. But the more important factor supporting the Australian currency was the positive general market sentiment, supported by reports […]
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December 132018
Britain’s Pound Rallies After Theresa May Survives Confidence Vote
The Great Britain pound gained today after Britain’s Prime Minister Theresa May survived the no-confidence vote of her party yesterday. While the currency has lost its gains versus the US dollar by now, it kept them against other major rivals. The Prime Minister retained leadership in her Conservative party, winning with 200 votes in her favor versus 117 votes against her, and now she is […]
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December 132018
EUR/USD Volatile due to ECB Policy Announcement
EUR/USD was extremely volatile today, rising ahead of the policy announcement from the European Central Bank, falling sharply after the release, but rebounding to almost flat by the end of the Thursday’s session. ECB President Mario Draghi announced an end to the quantitative easing program but made dovish remarks, sending the currency pair down. US macroeconomic data was mixed today, but with absence of any major releases, it had […]
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